601 5th St · East Alton, IL 62024

$70,000

2 bd · 1.0 ba · 975 sqft · SingleFamily public records · 2 Days on market

Built 1942 3,994 sqft lot Est $95k · 26% under

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Why this score? — see what drove the B 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 +29.4/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +8.6/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.6/10.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to this well-maintained 2 bedroom, 1 bathroom home in East Alton offering comfort, convenience, and affordability all in one! Architectural roof installed in 2012 by Twin-Co with Limited Lifetime Warranty Shingles. Water heater and carpet installed in 2017-both very well maintained, vinyl windows throughout, 100 amp panel with replacement of most of all the wiring to romex with ground. Also featuring main floor laundry for added ease, this home has been well cared for and is move-in ready with city occupancy inspection almost completed, allowing for immediate possession. Enjoy off-street parking, a covered front porch, partial wooden privacy fencing, and a manageable yard perfect fo

Key facts

• 3,994 sq ft lot
• Built 1942
• Listed 2 days

Property features AI

Finance

• Financial info: Seller may consider concessions; Lease not considered

Exterior

• Utilities: Public water; Public sewer; Electricity (Ameren); Natural gas connected; Cable available; Phone available
• Home design: Single-family residence; One-level home; Private ownership; 975 above-grade living area
• Construction: Vinyl siding; Architectural shingle roof
• Exterior features: Covered front porch; Partial wood fencing; Corner, level lot; Shed(s) on the property

Interior

• Kitchen: Free-standing gas oven; Free-standing gas range
• Bedrooms: 2 bedrooms (both on the main level)
• Bathrooms: 1 full bathroom (on the main level)
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Free-standing gas oven; Free-standing gas range; Central air; Forced air heating
• Laundry & utility: Laundry on the main level

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $70k.

Deal economics

• At list price, monthly cash flow is $247 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($953 rent vs $70k).

Location & tenants

• Location reads 69/100 on livability (#418 in IL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: commute D+, crime D, amenities F.
• East Alton-Wood River Chsd 14 (suburban): math 10% / reading 20% proficiency, ranked #793 of 919 in IL (top 86%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Eastwood Elem School (math 12% / reading 17%, grade F, #1,278 of 2,056 statewide, top 65%, 408 students, 0% FRL); East Alton Middle School (math 15% / reading 19%, grade F, #460 of 665 statewide, top 72%, 191 students, 0% FRL); East Alton-Wood River High Sch (math 8% / reading 12%, grade F, #567 of 693 statewide, top 83%, 537 students, 0% FRL).
• Market conditions: 38 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals leasing fast (median 6d on market — plan ~1-2 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 $484 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 + 3.0% rent growth), your $20k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1942 — 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 $70,000

Questions for the listing agent

1. Built in 1942 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. Crime grade is D 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?
5. 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.
6. 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.
7. 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: 1.36% ✓
• Cap rate: 10.53%
• Cash-on-cash: 15.14%
• DSCR: 1.67
• GRM: 6.1

CMA / ARV

• ARV (on-the-fly): $94,575
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
645 Washington Ave	0.24mi	2/1.0	906 (-7%)	3mo	$62,500	$69	74
523 Lincoln Ave	0.12mi	3/1.0 (+1)	1,092 (+12%)	0mo	$100,000	$92	69
217 Whitelaw Ave	0.30mi	2/1.0	858 (-12%)	2mo	$85,000	$99	64
176 S Pence St	0.62mi	2/1.0	996 (+2%)	4mo	$59,500	$60	64
817 Amherst Dr	0.33mi	3/1.0 (+1)	1,066 (+9%)	2mo	$125,000	$117	62
129 Whitelaw Ave	0.38mi	3/1.0 (+1)	892 (-8%)	2mo	$130,000	$146	62
236 Church St	0.61mi	2/1.0	1,035 (+6%)	5mo	$99,900	$97	57
98 Wood River Ave	0.47mi	3/1.0 (+1)	1,036 (+6%)	7mo	$129,900	$125	57
140 Wood River Ave	0.35mi	2/1.0	1,112 (+14%)	5mo	$130,000	$117	56
615 Broadway	0.37mi	3/1.0 (+1)	1,108 (+14%)	1mo	$56,000	$51	54
321 Tower Dr	0.40mi	3/1.0 (+1)	1,100 (+13%)	5mo	$55,000	$50	51
367 Elble Ave	0.62mi	2/1.0	1,120 (+15%)	1mo	$100,000	$89	46

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 5.8%
• Equity multiple: 1.23×
• Total profit: $4,431
• Equity at exit: $10,437

10-year hold

• IRR: 15.2%
• Equity multiple: 2.24×
• Total profit: $24,247
• Equity at exit: $6,052

Cash invested: $19,600 (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 62024

• Home prices YoY: -18.8%
• Active inventory: 38
• Price-to-rent: 6.1×

Monthly cashflow live

• Estimated rent: $953 high
• Mortgage (P&I): −$367
• Tax from tax record: −$109 /mo · $1,314/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$200
• Net cashflow: $247

Break-even live

Break-even rent $640

Max offer price $70,000

Occupancy floor 69%

Sensitivity live

Price	-10% $287	-5% $267	+0% $247	+5% $227	+10% $208
Rent	-10% $172	-5% $210	+0% $247	+5% $285	+10% $323
Rate	-1.0pp $282	-0.5pp $265	base $247	+0.5pp $229	+1.0pp $211

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: $17,500
• Closing costs: $2,100
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
120 Lakeside Ave East Alton, IL	2.0	1.0	700	$850	$1.21	12d	1	0.32mi
134 Lakeside Ave East Alton, IL	2.0	1.0	800	$775	$0.97	12d	1	0.32mi
121 Cardot St East Alton, IL	3.0	1.0	937	$1,200	$1.28	23d	1	0.44mi
176 S Pence St East Alton, IL	2.0	1.0	1000	$1,100	$1.10	0d	1	0.60mi
123 Irwin St East Alton, IL	2.0	1.0	792	$1,225	$1.55	6d	1	1.01mi
140 Illinois St East Alton, IL	2.0	1.0	960	$695	$0.72	0d	1	1.05mi
806 Center St East Alton, IL	1.0	1.0	620	$675	$1.09	0d	1	1.12mi
226 E Lorena Ave Wood River, IL	1.0	1.0	615	$1,150	$1.87	4d	1	1.46mi

Listing history 3 events

1. 2026-05-23
   status Pending
2. 2026-05-21
   listed $70,000 Active
3. 2026-05-17
   historical $70,000

ⓘ 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: $1,314 · $109/mo
• Projected year-2 tax: $1,451 · $121/mo
• Expected delta: +$138/yr (+$11/mo · 10.5%)

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

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X · 22% 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: $11,437
• − Mortgage interest: −$3,921
• − Property taxes: −$1,314
• − Insurance: −$350
• − Repairs & maintenance: −$915
• − Management: −$915
• − Depreciation: −$2,036
• Taxable income: $1,986
• Est. tax owed @ 24.0%: −$477
• After-tax cash flow: $2,490/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: East Alton-Wood River Chsd 14
• NCES district ID: 1712990
• Math proficiency: 10% ▬ 0.00%
• Reading proficiency: 20% ▬ 0.00%
• Median HH income: $35,977
• Composite: 15.86/100
• National rank: #14315
• State rank: #793 of 919 in IL

Livability — East Alton

• Score: 69/100
• State rank: #418
• US rank: #8569

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: East Alton, IL
• City population: 9,465
• Population (ZIP): 9,465

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 (93%)
• Race & ethnicity: White 93% Two or more races 5% Hispanic / Latino 2% Black 1%
• Common ancestry: Lithuanian 4% Iranian 2% Italian 1%
• Foreign-born: 0%

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: ▼ -50.18%
• Current HPI: 216.1273
• 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

+0.0% since first listed

3 events — show timeline

• 2026-05-23 Pending — MARIS as Distributed by MLS Grid
• 2026-05-21 Listed $70,000 MARIS as Distributed by MLS Grid
• 2026-05-17 Coming Soon $70,000 MARIS as Distributed by MLS Grid

Property tax history

+6.0%/yr

Latest (2024): $1,314 · +5.3% YoY. Source: county tax records.