124 S 7th St · East Carondelet, IL 62240

$40,000

2 bd · 1.0 ba · 1,900 sqft · SingleFamily · 87 Days on market

Built 1950 0.29 ac lot Est $59k · 32% under

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Why this score? — see what drove the A- grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.2/10.0

Listing remarks

DO NOT DISTURB TENNANT A great investment oportunity waiting for you! Fantastic opportunity for investors or savvy buyers! This 2-bedroom, 1-bath home is a true fixer-upper with endless potential. Bring your vision and creativity to trasnsform this property into a great home or income-producing investment.

Key facts

• 0.29 acre lot
• Built 1950
• Listed 87 days

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $40k.

Deal economics

• At list price, monthly cash flow is $422 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($928 rent vs $40k).
• Recommended offer: $38k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 67/100 on livability (#535 in IL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: crime F, amenities F, health & safety F.
• Dupo CUSD 196 (suburban): math 7% / reading 19% proficiency, ranked #543 of 620 in IL (top 88%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Dupo High School (math 12% / reading 12%, grade F, #511 of 693 statewide, top 75%, 267 students, 0% FRL) — zoned schools average 0% FRL vs 52% district-wide (52 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 5 active listings in the ZIP; 783 units permitted in St. Clair County in 2024 (378 in 5+ unit buildings).

Forward outlook

• In year one you build about $4k of equity ($277 loan paydown + $4k appreciation (10.0% local appreciation)).
• St. Clair County population projected at -23% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $11k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 7, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 87 days — a 6% lower offer ($38k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $8k; list at $40k implies a 400% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 2.5% of price; built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $37,600 (6.0% below list)

Questions for the listing agent

1. It's been on market 87 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
7. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
8. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
9. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
10. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 2.32% ✓
• Cap rate: 18.96%
• Cash-on-cash: 45.25%
• DSCR: 3.01
• GRM: 3.6

CMA / ARV

• ARV (on-the-fly): $58,900
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
248 S 7th St	0.40mi	3/2.0 (+1)	1,624 (-14%)	11mo	$50,000	$31	39

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 59.6%
• Equity multiple: 5.35×
• Total profit: $48,716
• Equity at exit: $36,035

10-year hold

• IRR: 53.1%
• Equity multiple: 11.93×
• Total profit: $122,380
• Equity at exit: $77,711

Cash invested: $11,200 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 43 Moderately Tenant-Leaning
• State Illinois: 43 Moderately Tenant-Leaning · D+7
• County: — inherits STATE
• City: — inherits STATE

Chicago RTLO is among the strongest tenant ordinances in the Midwest; downstate is more landlord-friendly.

Methodology + full state rankings →

ZIP-level market 62240

• Home prices YoY: 28.1%
• Active inventory: 5
• Price-to-rent: 3.6×

Monthly cashflow live

• Estimated rent: $928 medium
• Mortgage (P&I): −$210
• Tax from tax record: −$84 /mo · $1,010/yr
• Insurance: −$17
• HOA: −$0
• Vacancy / Maint / Mgmt: −$195
• Net cashflow: $422

Break-even live

Break-even rent $393

Max offer price $40,000

Occupancy floor 49%

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $10,000
• Closing costs: $1,200
• Reserves months: —
• Total cash needed: —

Listing history 3 events

1. 2026-04-17
   status Pending
2. 2026-01-19
   listed $40,000 Active
3. 2000-11-29
   soldstatus $8,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast IL · Partial reset (capped growth)

• Current annual tax: $1,010 · $84/mo
• Projected year-2 tax: $1,010 · $84/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥109°F today · 21 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 2% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $11,133
• − Mortgage interest: −$2,241
• − Property taxes: −$1,010
• − Insurance: −$200
• − Repairs & maintenance: −$891
• − Management: −$891
• − Depreciation: −$1,164
• Taxable income: $4,737
• Est. tax owed @ 24.0%: −$1,137
• After-tax cash flow: $3,931/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Dupo CUSD 196
• NCES district ID: 1712720
• Math proficiency: 7% ▼ -13.00%
• Reading proficiency: 19% ▼ -15.00%
• Median HH income: $44,220
• Composite: 11.52/100
• National rank: #9701
• State rank: #543 of 620 in IL

Livability — East Carondelet

• Score: 67/100
• State rank: #535
• US rank: #11119

Category grades

Amenities F Commute C+ Cost of living A+ Crime F Employment C Housing A+ Health & safety F User ratings A

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: East Carondelet, IL
• Population (ZIP): 1,994

Population outlook (St. Clair County) Hauer SSP2

• Today (2025): 250,366 people
• By 2030: 240,511 · -3.9%
• By 2040: 217,391 · -13.2%
• By 2050: 192,699 · -23.0%
• By 2075: 140,637 · -43.8%
• By 2100: 100,499 · -59.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (96%)
• Race & ethnicity: White 96% Black 2% Two or more races 1%
• Common ancestry: Lithuanian 3% Italian 1%

Political lean MEDSL · St. Clair

• 2024 margin: Lean D (+7.9) · D 53.0% · R 45.1% · Other 1.8%
• 2008→2024 swing: -14.6pp toward R · 2008: 22.4pp · 2024: 7.9pp
• All cycles: 2024: D+7.9 2020: D+8.7 2016: D+5.6 2012: D+14.5 2008: D+22.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 39.33%
• Current HPI: 179.31
• Rent YoY: —
• Metro: —
• State GDP YoY: ▲ 1.59%
• F500 in state: 60

Industry mix (Fortune 500 HQ in IL)

Industry	F500 HQs	Revenue
▸Insurance	4	$201B
▸Consumer Goods	4	$87B
▸Industrial Machinery	3	$64B
▸Healthcare	2	$55B
▸Retail / Pharmacy	1	$148B
▸Agriculture / Food	1	$86B

Price history

+400.0% since first listed

3 events — show timeline

• 2026-04-17 Pending — MARIS as Distributed by MLS Grid
• 2026-01-19 Listed $40,000 MARIS as Distributed by MLS Grid
• 2000-11-29 Sold (Public Records) $8,000 Public Records

Property tax history

+4.3%/yr

Latest (2024): $1,010 · +0.0% YoY. Source: county tax records.