723 Linden St · Alton, IL 62002

$39,900

3 bd · 1.0 ba · 1,142 sqft · SingleFamily public records · 150 Days on market

Built 1950 5,998 sqft lot $35/sqft · 40% below area Est $67k · 40% under ↓ 20% since listing

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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 +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Rent growth +4.6/5.0
• Livability +3.2/5.0
• Condition / age +2.5/5.0
• Schools +1.1/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Step back in time to a home that is ready to be brought into the 21st century!. Main floor features living room, formal dining room, eat-in kitchen, 2 beds, and 1 bath. Original doors, woodwork, and trim throughout main level, including a pocket door between the living room and the dining room, - most of it all in great condition. Main floor also features high ceilings. Upstairs has a bonus room and easy access to the attic. Large covered front sitting porch on front and huge, covered, and screened enclosed back porch. Backyard is fenced. Electrical panel in basement has been updated. Property to be sold As-Is. No appliances included.

Key facts

• Woodwork
• Formal dining room
• Original doors

Tags

• LIVING ROOM
• FORMAL DINING ROOM
• EAT-IN KITCHEN
• ORIGINAL DOORS
• WOODWORK
• TRIM

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $40k.

Deal economics

• At list price, monthly cash flow is $594 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $40k).
• Recommended offer: $35k (12.0% below list) — sets the bar for market timing.
• Cap rate 24.2% 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-, schools F, crime F.
• 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.
• Market conditions: Rents rising fast (+8.2%/yr); 169 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 43% of comp listings sitting > 30 days — soft ceiling on asking rent; 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 $276 of loan paydown is wiped out by about $1k 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 $11k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 150 days — a 12% lower offer ($35k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1950 — 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 $35,112 (12.0% below list)

Questions for the listing agent

1. It's been on market 150 days. Have you received any prior offers? Is the seller open to a 12% 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 2.76% ✓
• Cap rate: 24.17%
• Cash-on-cash: 63.83%
• DSCR: 3.84
• GRM: 3.0

CMA / ARV

• ARV (median comp): $67,035
• List price: $39,900
• Delta: -40.48%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1213 Diamond St	0.05mi	3/1.0	1,115 (-2%)	1mo	$34,900	$31	93
1127 Putnam St	0.31mi	3/1.0	1,120 (-2%)	4mo	$39,900	$36	80
1418 Fletcher St	0.40mi	3/1.0	1,110 (-3%)	1mo	$82,500	$74	76
707 Silver St	0.42mi	3/1.0	1,100 (-4%)	5mo	$77,500	$70	70
702 Union St	0.15mi	2/2.0 (-1)	1,079 (-6%)	6mo	$95,000	$88	70
616 E 8th St	0.28mi	2/1.0 (-1)	1,212 (+6%)	5mo	$22,000	$18	67
1050 Tremont St	0.59mi	3/1.0	1,134 (-1%)	8mo	$84,000	$74	64
1205 E 4th St	0.70mi	4/2.0 (+1)	1,148 (+0%)	3mo	$129,900	$113	55
617 Forest Ave	0.35mi	2/1.5 (-1)	973 (-15%)	7mo	$30,000	$31	46
1202 Rock Springs Dr	0.74mi	2/2.0 (-1)	1,190 (+4%)	6mo	$119,900	$101	45
809 Alby St	0.61mi	2/1.0 (-1)	1,305 (+14%)	8mo	$66,500	$51	36
2136 Wyckoff St	0.74mi	3/1.5	990 (-13%)	8mo	$94,000	$95	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: 68.5%
• Equity multiple: 4.33×
• Total profit: $37,219
• Equity at exit: $5,949

10-year hold

• IRR: 74.2%
• Equity multiple: 10.64×
• Total profit: $107,701
• Equity at exit: $3,450

Cash invested: $11,172 (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: 3.0×

Monthly cashflow live

• Estimated rent: $1,101 high
• Mortgage (P&I): −$209
• Tax est. 1.5%: −$50 /mo · $598/yr
• Insurance: −$17
• HOA: −$0
• Vacancy / Maint / Mgmt: −$231
• Net cashflow: $594

Break-even live

Break-even rent $349

Max offer price $39,900

Occupancy floor 41%

Sensitivity live

Price	-10% $622	-5% $608	+0% $594	+5% $580	+10% $567
Rent	-10% $507	-5% $551	+0% $594	+5% $638	+10% $681
Rate	-1.0pp $614	-0.5pp $604	base $594	+0.5pp $584	+1.0pp $573

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: $9,975
• Closing costs: $1,197
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1110 George St Alton, IL	2.0	1.0	780	$1,019	$1.31	44d	1	0.38mi
504 Cherry St Alton, IL	2.0	1.0	1000	$895	$0.90	44d	1	0.55mi
2222 Brown St Alton, IL	4.0	2.0	1025	$1,050	$1.02	8d	1	1.05mi
2016 Salu St Alton, IL	3.0	1.0	1073	$1,100	$1.03	16d	1	1.15mi
2418 Sanford Ave Alton, IL	2.0	1.0	958	$875	$0.91	21d	1	1.21mi
306 Lampert St Alton, IL	2.0	1.0	925	$1,000	$1.08	2d	1	1.32mi
3108 Alby St Alton, IL	2.0	1.0	900	$1,000	$1.11	44d	1	1.36mi

Listing history 15 events

1. 2026-06-18
   days on market $39,900 Active 150 DOM
2. 2026-06-17
   days on market $39,900 Active 149 DOM
3. 2026-06-16
   days on market $39,900 Active 148 DOM
4. 2026-06-15
   days on market $39,900 Active 147 DOM
5. 2026-06-13
   days on market $39,900 Active 145 DOM
6. 2026-06-09
   days on market $39,900 Active 141 DOM
7. 2026-06-08
   days on market $39,900 Active 140 DOM
8. 2026-06-07
   days on market $39,900 Active 139 DOM
9. 2026-06-03
   days on market $39,900 Active 135 DOM
10. 2026-06-02
    days on market $39,900 Active 134 DOM
11. 2026-06-01
    days on market $39,900 Active 133 DOM
12. 2026-05-31
    days on market $39,900 Active 132 DOM
13. 2026-03-12
    price $39,900 643-char remark

    Show marketing remark (643 chars)

    Step back in time to a home that is ready to be brought into the 21st century!. Main floor features living room, formal dining room, eat-in kitchen, 2 beds, and 1 bath. Original doors, woodwork, and trim throughout main level, including a pocket door between the living room and the dining room, - most of it all in great condition. Main floor also features high ceilings. Upstairs has a bonus room and easy access to the attic. Large covered front sitting porch on front and huge, covered, and screened enclosed back porch. Backyard is fenced. Electrical panel in basement has been updated. Property to be sold As-Is. No appliances included.

14. 2026-02-09
    price $45,000 643-char remark

    Show marketing remark (643 chars)

    Step back in time to a home that is ready to be brought into the 21st century!. Main floor features living room, formal dining room, eat-in kitchen, 2 beds, and 1 bath. Original doors, woodwork, and trim throughout main level, including a pocket door between the living room and the dining room, - most of it all in great condition. Main floor also features high ceilings. Upstairs has a bonus room and easy access to the attic. Large covered front sitting porch on front and huge, covered, and screened enclosed back porch. Backyard is fenced. Electrical panel in basement has been updated. Property to be sold As-Is. No appliances included.

15. 2026-01-19
    listed $50,000 Active 643-char remark

    Show marketing remark (643 chars)

    Step back in time to a home that is ready to be brought into the 21st century!. Main floor features living room, formal dining room, eat-in kitchen, 2 beds, and 1 bath. Original doors, woodwork, and trim throughout main level, including a pocket door between the living room and the dining room, - most of it all in great condition. Main floor also features high ceilings. Upstairs has a bonus room and easy access to the attic. Large covered front sitting porch on front and huge, covered, and screened enclosed back porch. Backyard is fenced. Electrical panel in basement has been updated. Property to be sold As-Is. No appliances included.

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

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: $13,215
• − Mortgage interest: −$2,235
• − Property taxes: −$598
• − Insurance: −$200
• − Repairs & maintenance: −$1,057
• − Management: −$1,057
• − Depreciation: −$1,161
• Taxable income: $6,907
• Est. tax owed @ 24.0%: −$1,658
• After-tax cash flow: $5,473/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

-20.2% since first listed

3 events — show timeline

• 2026-03-12 Price Changed $39,900 MARIS as Distributed by MLS Grid
• 2026-02-09 Price Changed $45,000 MARIS as Distributed by MLS Grid
• 2026-01-19 Listed $50,000 MARIS as Distributed by MLS Grid

Property tax history

+2.3%/yr

Latest (2024): $2,380 · +6.4% YoY. Source: county tax records.