518 Wyss Ave · Alton, IL 62002

$75,000

2 bd · 1.0 ba · 1,041 sqft · SingleFamily public records · 44 Days on market

Built 1945 6,899 sqft lot $72/sqft · 34% above area Est $56k · 34% over

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Why this score? — see what drove the C- 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 +26.5/30.0
• DSCR +9.1/10.0
• 1% rule +7.8/10.0
• Rent growth +4.6/5.0
• Livability +3.2/5.0
• Condition / age +2.5/5.0
• Schools +1.1/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome home to this spacious and comfortable casa with great location on a dead end street. Features large eat in kitchen, formal dining room, large bedrooms, enclosed front porch, two car insulated garage and fenced yard. Updates include: laminate floors, a 100 amp breaker box; the roof and windows are approximately 2 years old. Includes stove, fridge, washer and dryer. NOTES: Sqft & info from Tax Assessor’s records and/or appraisal –Buyer or Buyer’s Agent to verify

Key facts

• Newer ac unit
• Flexible layout
• Versatile bonus room

Tags

• QUIET DEAD-END STREET
• FLEXIBLE LAYOUT
• VERSATILE BONUS ROOM
• NEWER AC UNIT

Property features AI

Finance

• Other: Seller may consider concessions

Exterior

• Parking: 2 total parking spaces; 2-car garage (22 x 18)
• Utilities: Public water; Public sewer; Ameren electric; Cable available; Electricity connected; Water connected; Sewer connected
• Home design: Single-family residence; One story; Private ownership
• Construction: Vinyl siding; Architectural shingle roof; Block foundation; House structure; Built (year per public records)
• Exterior features: Chain link fencing; Panel doors; Level lot; City street frontage

Interior

• Kitchen: Electric range; Refrigerator
• Bedrooms: 2 bedrooms on the main level
• Bathrooms: 1 full bathroom (main level)
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Built-in features
• Laundry & utility: Laundry in basement

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $75k.

Deal economics

• At list price, monthly cash flow is $199 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($963 rent vs $75k).
• Recommended offer: $73k (3.0% below list) — sets the bar for market timing.
• Cap rate 9.5% vs local median 6.4% in Alton — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 64/100 on livability (#701 in IL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A; Watch: health & safety C-, crime F, amenities D-.
• Alton CUSD 11 (suburban): math 12% / reading 13% proficiency, ranked #544 of 620 in IL (top 88%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 60% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: West Elementary School (math 7% / reading 9%, grade F, #1,621 of 2,056 statewide, top 79%, 400 students, 0% FRL); Alton Middle School (math 10% / reading 11%, grade F, #580 of 665 statewide, top 88%, 1,241 students, 0% FRL); Alton High School (math 20% / reading 25%, grade F, #317 of 693 statewide, top 46%, 1,990 students, 0% FRL) — zoned schools average 0% FRL vs 60% district-wide (60 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: Rents rising fast (+8.2%/yr); 169 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 336 units permitted in Madison County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $519 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Madison County population projected at -18% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $21k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 44 days — a 3% lower offer ($73k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 8y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $52k; 44% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1945 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $72,750 (3.0% below list)

Questions for the listing agent

1. It's been on market 44 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1945 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 1.28% ✓
• Cap rate: 9.48%
• Cash-on-cash: 11.38%
• DSCR: 1.51
• GRM: 6.5

CMA / ARV

• ARV (median comp): $56,167
• List price: $75,000
• Delta: 33.53%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
602 Sheppard St	0.20mi	2/1.0	1,172 (+13%)	2mo	$30,000	$26	68
241 Arbor Dr	0.50mi	2/1.0	996 (-4%)	4mo	$92,000	$92	66
2617 Plainview Ter	0.26mi	3/1.5 (+1)	1,134 (+9%)	1mo	$120,000	$106	65
1215 Clawson St	0.45mi	2/1.0	1,125 (+8%)	4mo	$52,000	$46	62
1205 Florence St	0.45mi	2/1.0	938 (-10%)	1mo	$99,500	$106	62
206 Longfellow Ave	0.58mi	3/2.0 (+1)	1,092 (+5%)	4mo	$184,900	$169	52
3505 Coronado Dr	0.69mi	2/1.0	937 (-10%)	0mo	$120,000	$128	50
1053 Washington Ave	0.49mi	3/1.5 (+1)	918 (-12%)	2mo	$99,900	$109	49
809 Maurice St	0.50mi	2/1.0	886 (-15%)	4mo	$55,000	$62	48
1207 Milton Rd	0.69mi	2/1.5	918 (-12%)	2mo	$110,000	$120	44
1429 S Rodgers Ave	0.75mi	3/1.0 (+1)	952 (-8%)	2mo	$90,000	$95	44
3305 Fernwood Ave	0.55mi	3/1.0 (+1)	1,196 (+15%)	2mo	$109,000	$91	43

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

Projected returns pro-forma

-3.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 6.5%
• Equity multiple: 1.27×
• Total profit: $5,658
• Equity at exit: $11,183

10-year hold

• IRR: 20.1%
• Equity multiple: 3.12×
• Total profit: $44,585
• Equity at exit: $6,485

Cash invested: $21,000 (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 62002

• Home prices YoY: -33.6%
• Rents YoY: 8.2%
• Active inventory: 169
• Price-to-rent: 6.5×

Monthly cashflow live

• Estimated rent: $963 high
• Mortgage (P&I): −$393
• Tax from tax record: −$137 /mo · $1,645/yr
• Insurance: −$31
• HOA: −$0
• Vacancy / Maint / Mgmt: −$202
• Net cashflow: $199

Break-even live

Break-even rent $711

Max offer price $75,000

Occupancy floor 74%

Sensitivity live

Price	-10% $242	-5% $220	+0% $199	+5% $178	+10% $157
Rent	-10% $123	-5% $161	+0% $199	+5% $237	+10% $275
Rate	-1.0pp $237	-0.5pp $218	base $199	+0.5pp $180	+1.0pp $160

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: $18,750
• Closing costs: $2,250
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
602 Sheppard St Alton, IL	2.0	1.0	1172	$875	$0.75	22d	1	0.19mi
306 Lampert St Alton, IL	2.0	1.0	925	$1,000	$1.08	0d	1	0.41mi
2418 Sanford Ave Alton, IL	2.0	1.0	958	$875	$0.91	22d	1	0.43mi
3305 Franor St Alton, IL	2.0	1.0	1000	$549	$0.55	3d	1	0.48mi
3400 Milton Dr Alton, IL	2.0	1.5	972	$1,350	$1.39	5d	1	0.66mi
3303 Jackson St Alton, IL	2.0	1.0	1050	$1,295	$1.23	45d	1	0.93mi
504 Cherry St Alton, IL	2.0	1.0	1000	$895	$0.90	45d	1	1.33mi
140 Illinois St East Alton, IL	2.0	1.0	960	$695	$0.72	0d	1	1.35mi

Listing history 19 events

1. 2026-06-21
   days on market $75,000 Active 44 DOM
2. 2026-06-18
   days on market $75,000 Active 41 DOM
3. 2026-06-17
   days on market $75,000 Active 40 DOM
4. 2026-06-16
   days on market $75,000 Active 39 DOM
5. 2026-06-15
   days on market $75,000 Active 38 DOM
6. 2026-06-13
   days on market $75,000 Active 36 DOM
7. 2026-06-09
   days on market $75,000 Active 32 DOM
8. 2026-06-08
   days on market $75,000 Active 31 DOM
9. 2026-06-07
   days on market $75,000 Active 30 DOM
10. 2026-06-03
    days on market $75,000 Active 26 DOM
11. 2026-06-02
    days on market $75,000 Active 25 DOM
12. 2026-06-01
    days on market $75,000 Active 24 DOM
13. 2026-05-31
    days on market $75,000 Active 23 DOM
14. 2026-05-09
    listed $75,000 Active 990-char remark
15. 2018-11-14
    soldstatus $52,000
16. 2018-10-31
    soldstatus Closed 499-char remark

    Show marketing remark (499 chars)

    Welcome home to this spacious and comfortable casa with great location on a dead end street. Features large eat in kitchen, formal dining room, large bedrooms, enclosed front porch, two car insulated garage and fenced yard. Updates include: laminate floors, a 100 amp breaker box; the roof and windows are approximately 2 years old. Includes stove, fridge, washer and dryer. NOTES: Sqft & info from Tax Assessor’s records and/or appraisal –Buyer or Buyer’s Agent to verify

17. 2018-10-19
    status Pending 499-char remark

    Show marketing remark (499 chars)

    Welcome home to this spacious and comfortable casa with great location on a dead end street. Features large eat in kitchen, formal dining room, large bedrooms, enclosed front porch, two car insulated garage and fenced yard. Updates include: laminate floors, a 100 amp breaker box; the roof and windows are approximately 2 years old. Includes stove, fridge, washer and dryer. NOTES: Sqft & info from Tax Assessor’s records and/or appraisal –Buyer or Buyer’s Agent to verify

18. 2018-09-26
    listed $55,000 Active 499-char remark

    Show marketing remark (499 chars)

    Welcome home to this spacious and comfortable casa with great location on a dead end street. Features large eat in kitchen, formal dining room, large bedrooms, enclosed front porch, two car insulated garage and fenced yard. Updates include: laminate floors, a 100 amp breaker box; the roof and windows are approximately 2 years old. Includes stove, fridge, washer and dryer. NOTES: Sqft & info from Tax Assessor’s records and/or appraisal –Buyer or Buyer’s Agent to verify

19. 2016-07-26
    price $58,000

ⓘ 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: $1,645 · $137/mo
• Projected year-2 tax: $1,674 · $139/mo
• Expected delta: +$29/yr (+$2/mo · 1.8%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥106°F today · 20 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $11,555
• − Mortgage interest: −$4,201
• − Property taxes: −$1,645
• − Insurance: −$375
• − Repairs & maintenance: −$924
• − Management: −$924
• − Depreciation: −$2,182
• Taxable income: $1,304
• Est. tax owed @ 24.0%: −$313
• After-tax cash flow: $2,076/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: Alton CUSD 11
• NCES district ID: 1703600
• Math proficiency: 12% ▼ -10.00%
• Reading proficiency: 13% ▼ -10.00%
• Median HH income: $46,257
• Composite: 11.34/100
• National rank: #9710
• State rank: #544 of 620 in IL

Livability — Alton

• Score: 64/100
• State rank: #701
• US rank: #14289

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Alton, IL
• County: Madison County · 189,064 people
• City population: 29,543
• Metro: St. Louis, MO-IL
• Population (ZIP): 29,543
• Household income: $61,414
• Rent vs Own: 34.3% rent · 65.7% own
• Severe rent burden: 960.0

Population outlook (Madison County) Hauer SSP2

• Today (2025): 258,371 people
• By 2030: 251,523 · -2.7%
• By 2040: 233,640 · -9.6%
• By 2050: 213,042 · -17.5%
• By 2075: 165,255 · -36.0%
• By 2100: 123,953 · -52.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (71%)
• Race & ethnicity: White 71% Black 20% Two or more races 6% Hispanic / Latino 2% Asian 1%
• Common ancestry: Romanian 2% Lithuanian 2% Slovak 1%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Spanish 1% Other Indo-European 1%

Political lean MEDSL · Madison

• 2024 margin: R (+13.3) · D 42.5% · R 55.8% · Other 1.8%
• 2008→2024 swing: -22.5pp toward R · 2008: 9.2pp · 2024: -13.3pp
• All cycles: 2024: R+13.3 2020: R+13.2 2016: R+15.6 2012: R+1.4 2008: D+9.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -98.43%
• Current HPI: 194.7313
• Rent YoY: ▲ 8.24%
• Metro: St. Louis, MO-IL
• 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

+29.3% since first listed

6 events — show timeline

• 2026-05-09 Listed $75,000 MARIS as Distributed by MLS Grid
• 2018-11-14 Sold (Public Records) $52,000 Public Records
• 2018-10-31 Sold (MLS) — MARIS as Distributed by MLS Grid
• 2018-10-19 Pending — MARIS as Distributed by MLS Grid
• 2018-09-26 Listed $55,000 MARIS as Distributed by MLS Grid
• 2016-07-26 Price Changed $58,000 MARIS as Distributed by MLS Grid

Property tax history

+16.7%/yr

Latest (2024): $1,645 · +6.4% YoY. Source: county tax records.