500 Wabash Ave · Belleville, IL 62220

$134,900

3 bd · 4.0 ba · 616 sqft · SingleFamily public records · 30 Days on market

Built 1899 7,405 sqft lot

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Why this score? — see what drove the D+ 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 +16.7/30.0
• ARV discount +7.5/15.0
• DSCR +5.2/10.0
• Rent growth +5.0/5.0
• 1% rule +4.8/10.0
• Livability +3.9/5.0
• Condition / age +2.5/5.0
• Schools +2.2/10.0
• Appreciation +0.0/10.0

Listing remarks

Classic character meets modern comfort with this recently remodeled and updated 3BR/2BA home situated on a spacious corner lot just minutes from local schools and the vibrant Belleville Public Square! A welcoming front foyer opens to a beautifully restored staircase accented by classic wooden spindles, while a spacious main-level bedroom is filled with natural light streaming through oversized windows. The main hallway leads to a large family room perfect for everyday living or entertaining, with a conveniently located three-quarter bathroom featuring tiled flooring and a glass-enclosed stand-alone shower. The combined dining area and kitchen flow seamlessly together, creating an inviting s

Key facts

• Large family room
• Spacious corner lot
• Oversized windows

Tags

• SPACIOUS CORNER LOT
• WELCOMING FRONT FOYER
• BEAUTIFULLY RESTORED STAIRCASE
• OVERSIZED WINDOWS
• LARGE FAMILY ROOM
• THREE-QUARTER BATHROOM

Property features AI

Finance

• Other: Living area ~1486 (public records); Lot size ~0.17 acre (public records); Year built source: public records
• Financial info: Lease not considered

Exterior

• Parking: Detached garage and on-street parking; 2-car garage (approx. 24x20)
• Utilities: Public water; Public sewer; Electric service by Ameren; Natural gas connected; Cable not available
• Home design: Single-family residence; Two levels; Private ownership; Facing/frontage length approximately 50 feet
• Construction: Brick construction; Flat roof
• Exterior features: Deck; City lot on a corner, level terrain; Asphalt road frontage on a city street

Interior

• Kitchen: Dishwasher; Gas oven; Refrigerator
• Bedrooms: 3 bedrooms total (1 on main level, 2 on upper level)
• Bathrooms: 2 full bathrooms (1 on main level, 1 on upper level)
• Heating & cooling: Forced-air heating (Natural Gas); Central electric air conditioning
• Interior features: Dishwasher; Gas oven; Refrigerator; Full unfinished walk-up basement
• Laundry & utility: Natural gas heating (utility connections for gas)

What this means for you Summary

Snapshot

• This is a 3-bed/4.0-bath single-family listed at $135k.

Deal economics

• At list price, monthly cash flow is $83 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $132k (1.8% below list).
• Recommended offer: $132k (1.8% below list) — sets the bar for 1% rule.
• Cap rate 7.0% vs local median 5.6% in Belleville — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

Location & tenants

• Location reads 78/100 on livability (#142 in IL, #2,604 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: crime F, amenities D-.
• Belleville Twp Hsd 201 (suburban): math 21% / reading 28% proficiency, ranked #308 of 620 in IL (top 50%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Douglas Elem School (math 12% / reading 22%, grade F, #1,141 of 2,056 statewide, top 59%, 248 students, 0% FRL); Central Jr High School (math 14% / reading 27%, grade F, #410 of 665 statewide, top 62%, 366 students, 0% FRL); Belleville High School-East (math 23% / reading 30%, grade F, #241 of 693 statewide, top 35%, 2,568 students, 0% FRL).
• Market conditions: Rents rising fast (+14.5%/yr); 149 active listings in the ZIP; 783 units permitted in St. Clair County in 2024 (378 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $933 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• St. Clair County population projected at -23% 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 $38k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 30 days — a 2% lower offer ($133k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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.

Risks & watch-outs

• Watch-outs: built in 1899 — 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 $132,419 (1.8% below list)

Questions for the listing agent

1. Built in 1899 — 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. 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?
4. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.98% ✗
• Cap rate: 7.03%
• Cash-on-cash: 2.65%
• DSCR: 1.12
• GRM: 8.5

CMA / ARV

• ARV (on-the-fly): $72,688
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
140 N Virginia Ave	0.62mi	3/1.0	600 (-3%)	6mo	$142,500	$238	50
21 Rusty Wil Dr	0.39mi	2/1.0 (-1)	672 (+9%)	15mo	$52,650	$78	37
15 Rusty Wil	0.33mi	2/1.0 (-1)	672 (+9%)	20mo	$79,500	$118	35

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: 0.75×
• Total profit: $-9,515
• Equity at exit: $20,114

10-year hold

• IRR: 8.6%
• Equity multiple: 1.81×
• Total profit: $30,556
• Equity at exit: $11,664

Cash invested: $37,772 (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 62220

• Home prices YoY: -26.4%
• Rents YoY: 14.5%
• Active inventory: 149
• Price-to-rent: 8.5×

Monthly cashflow live

• Estimated rent: $1,324 medium
• Mortgage (P&I): −$707
• Tax from tax record: −$199 /mo · $2,390/yr
• Insurance: −$56
• HOA: −$0
• Vacancy / Maint / Mgmt: −$278
• Net cashflow: $83

Break-even live

Break-even rent $1,219

Max offer price $134,900

Occupancy floor 89%

Sensitivity live

Price	-10% $160	-5% $122	+0% $83	+5% $45	+10% $7
Rent	-10% $-21	-5% $31	+0% $83	+5% $136	+10% $188
Rate	-1.0pp $151	-0.5pp $118	base $83	+0.5pp $48	+1.0pp $13

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: $33,725
• Closing costs: $4,047
• Reserves months: —
• Total cash needed: —

Listing history 16 events

1. 2026-06-21
   days on market $134,900 Active 30 DOM
2. 2026-06-18
   days on market $134,900 Active 27 DOM
3. 2026-06-17
   days on market $134,900 Active 26 DOM
4. 2026-06-16
   days on market $134,900 Active 25 DOM
5. 2026-06-15
   days on market $134,900 Active 24 DOM
6. 2026-06-13
   days on market $134,900 Active 22 DOM
7. 2026-06-09
   days on market $134,900 Active 18 DOM
8. 2026-06-08
   days on market $134,900 Active 17 DOM
9. 2026-06-07
   days on market $134,900 Active 16 DOM
10. 2026-06-03
    days on market $134,900 Active 12 DOM
11. 2026-06-02
    days on market $134,900 Active 11 DOM
12. 2026-06-01
    days on market $134,900 Active 10 DOM
13. 2026-05-31
    days on market $134,900 Active 9 DOM
14. 2026-05-22
    listed $134,900 Active
15. 2026-04-24
    listed $100,000 Active
16. 2026-04-23
    historical

ⓘ 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: $2,390 · $199/mo
• Projected year-2 tax: $2,726 · $227/mo
• Expected delta: +$336/yr (+$28/mo · 14.1%)

ⓘ 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 ≥107°F today · 21 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 3 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,890
• − Mortgage interest: −$7,556
• − Property taxes: −$2,390
• − Insurance: −$674
• − Repairs & maintenance: −$1,271
• − Management: −$1,271
• − Depreciation: −$3,924
• Taxable loss: −$1,197
• Est. tax savings @ 24.0%: +$287
• After-tax cash flow: $1,287/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: Belleville Twp Hsd 201
• NCES district ID: 1705640
• Math proficiency: 21% ▼ -8.00%
• Reading proficiency: 28% ▼ -3.00%
• Median HH income: $58,064
• Composite: 22.39/100
• National rank: #8115
• State rank: #308 of 620 in IL

Livability — Belleville

• Score: 78/100
• State rank: #142
• US rank: #2604

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Belleville, IL
• County: Saint Clair County · 169,691 people
• City population: 47,407
• Metro: St. Louis, MO-IL
• Population (ZIP): 19,152
• Household income: $65,952
• Rent vs Own: 37.0% rent · 63.0% own
• Severe rent burden: 923.0

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 (67%)
• Race & ethnicity: White 67% Black 22% Two or more races 6% Hispanic / Latino 3% Asian 1%
• Common ancestry: Lithuanian 2% Slovak 2% Romanian 2%
• Foreign-born: 4% · Canada
• Languages at home: 95% English-only · Arabic 2% Spanish 1% Other Indo-European 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: ▼ -52.27%
• Current HPI: 145.9237
• Rent YoY: ▲ 14.47%
• 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

+34.9% since first listed

3 events — show timeline

• 2026-05-22 Listed $134,900 MARIS as Distributed by MLS Grid
• 2026-04-24 Listed $100,000 MARIS as Distributed by MLS Grid
• 2026-04-23 Coming Soon — MARIS as Distributed by MLS Grid

Property tax history

-0.3%/yr

Latest (2024): $2,390 · -6.3% YoY. Source: county tax records.