2533 Iowa St · Granite City, IL 62040

$62,000

2 bd · 2.0 ba · 938 sqft · SingleFamily public records · 55 Days on market

Built 1917 4,800 sqft lot $66/sqft · 23% above area Est $75k · 17% 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 +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.2/5.0
• Rent growth +2.9/5.0
• Condition / age +2.5/5.0
• Schools +0.9/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Property is available for online auction. See RealtyBid for more information.

Key facts

• 4,800 sq ft lot
• Built 1917
• Listed 55 days

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $62k.

Deal economics

• At list price, monthly cash flow is $266 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $62k).
• Recommended offer: $60k (3.0% below list) — sets the bar for market timing.
• Cap rate 11.4% vs local median 6.9% in Granite City — 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 65/100 on livability (#623 in IL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: schools F, crime F, amenities F.
• Granite City CUSD 9 (suburban): math 9% / reading 11% proficiency, ranked #570 of 620 in IL (top 92%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: Rents rising (+1.7%/yr); 194 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals at typical pace (median 16d 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 $429 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 + 1.7% rent growth), your $17k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 55 days — a 3% lower offer ($60k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 11y ago; this cycle's ask has dropped $5k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: property tax is 4.3% of price; built in 1917 — 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 $60,140 (3.0% below list)

Questions for the listing agent

1. It's been on market 55 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 1917 — 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. 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: 1.71% ✓
• Cap rate: 11.44%
• Cash-on-cash: 18.38%
• DSCR: 1.82
• GRM: 4.9

CMA / ARV

• ARV (median comp): $74,643
• List price: $62,000
• Delta: -16.94%
• 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
2311 E 25th St	0.16mi	2/2.0	896 (-4%)	2mo	$99,000	$110	84
2653 Grand Ave	0.24mi	2/1.0	954 (+2%)	1mo	$142,000	$149	81
2300 Edwards St	0.24mi	2/2.0	1,026 (+9%)	2mo	$99,900	$97	72
2900 Iowa St	0.60mi	2/1.0	936 (-0%)	1mo	$114,900	$123	67
2440 Iowa St	0.17mi	3/1.0 (+1)	1,052 (+12%)	3mo	$59,900	$57	60
2729 Ralph St	0.40mi	2/1.0	861 (-8%)	4mo	$79,900	$93	60
2306 Benton St	0.54mi	2/1.5	888 (-5%)	5mo	$107,000	$120	60
2807 Iowa St	0.45mi	2/1.0	848 (-10%)	2mo	$69,500	$82	58
2535 E 28th St	0.51mi	3/2.0 (+1)	1,013 (+8%)	2mo	$85,000	$84	56
2323 Edison Ave	0.41mi	3/1.0 (+1)	1,050 (+12%)	1mo	$99,900	$95	52
2254 Lee Ave	0.47mi	3/2.0 (+1)	1,053 (+12%)	5mo	$35,000	$33	49
2471 Center St	0.56mi	2/1.0	810 (-14%)	3mo	$80,000	$99	44

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 · 1.67% rent growth · sell at horizon

5-year hold

• IRR: 8.4%
• Equity multiple: 1.32×
• Total profit: $5,592
• Equity at exit: $9,244

10-year hold

• IRR: 16.3%
• Equity multiple: 2.24×
• Total profit: $21,505
• Equity at exit: $5,361

Cash invested: $17,360 (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 62040

• Home prices YoY: -21.8%
• Rents YoY: 1.7%
• Active inventory: 194
• Price-to-rent: 4.9×

Monthly cashflow live

• Estimated rent: $1,060 high
• Mortgage (P&I): −$325
• Tax from tax record: −$221 /mo · $2,649/yr
• Insurance: −$26
• HOA: −$0
• Vacancy / Maint / Mgmt: −$223
• Net cashflow: $266

Break-even live

Break-even rent $724

Max offer price $62,000

Occupancy floor 70%

Sensitivity live

Price	-10% $301	-5% $283	+0% $266	+5% $248	+10% $231
Rent	-10% $182	-5% $224	+0% $266	+5% $308	+10% $350
Rate	-1.0pp $297	-0.5pp $282	base $266	+0.5pp $250	+1.0pp $233

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: $15,500
• Closing costs: $1,860
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2415 Jerden Ave Granite City, IL	3.0	1.0	970	$1,400	$1.44	6d	1	0.22mi
2317 Grand Ave Granite City, IL	2.0	1.0	1124	$750	$0.67	9d	1	0.35mi
2450 Cleveland Blvd Apt A Granite City, IL	2.0	1.0	846	$825	$0.98	19d	1	0.35mi
2556 Center St Granite City, IL	3.0	1.0	874	$1,500	$1.72	16d	1	0.51mi
1215 22nd St Unit 1223 Granite City, IL	1.0	1.0	600	$550	$0.92	23d	1	0.60mi
1215 22nd St Unit 1227 Granite City, IL	1.0	1.0	600	$600	$1.00	45d	1	0.60mi
2715 Center St Unit B Granite City, IL	2.0	1.0	930	$1,275	$1.37	45d	1	0.67mi
2734 Center St Unit D Granite City, IL	1.0	1.0	680	$1,025	$1.51	14d	1	0.69mi
303 Wilson Park Ln Granite City, IL	3.0	1.0	900	$1,200	$1.33	9d	1	1.07mi
1709 Edison Ave Unit 1709 Granite City, IL	1.0	1.0	700	$800	$1.14	16d	1	1.21mi
2512 W 24th St Granite City, IL	1.0	1.0	650	$495	$0.76	25d	1	1.36mi

Listing history 15 events

1. 2026-06-07
   days on market $62,000 Active 55 DOM
2. 2026-06-05
   days on market $62,000 Active 52 DOM
3. 2026-06-03
   days on market $62,000 Active 51 DOM
4. 2026-06-02
   days on market $62,000 Active 50 DOM
5. 2026-06-01
   days on market $62,000 Active 49 DOM
6. 2026-05-31
   days on market $62,000 Active 48 DOM
7. 2026-04-13
   price $62,000 77-char remark

   Show marketing remark (77 chars)

   Property is available for online auction. See RealtyBid for more information.

8. 2026-04-13
   listed $67,320 Active 77-char remark

   Show marketing remark (77 chars)

   Property is available for online auction. See RealtyBid for more information.

9. 2026-01-19
   soldstatus Closed 310-char remark

   Show marketing remark (310 chars)

   Spacious 4-bedroom, 2-bath home offering incredible potential for customization. With ample room throughout and a functional floorplan, this property is ideal for buyers looking to create their dream space. The large back deck provides the perfect setting for morning coffee or entertaining friends and family.

10. 2025-12-10
    status Pending 310-char remark

    Show marketing remark (310 chars)

    Spacious 4-bedroom, 2-bath home offering incredible potential for customization. With ample room throughout and a functional floorplan, this property is ideal for buyers looking to create their dream space. The large back deck provides the perfect setting for morning coffee or entertaining friends and family.

11. 2025-11-19
    listed $29,500 Active 310-char remark

    Show marketing remark (310 chars)

    Spacious 4-bedroom, 2-bath home offering incredible potential for customization. With ample room throughout and a functional floorplan, this property is ideal for buyers looking to create their dream space. The large back deck provides the perfect setting for morning coffee or entertaining friends and family.

12. 2025-11-19
    historical $29,500 310-char remark

    Show marketing remark (310 chars)

    Spacious 4-bedroom, 2-bath home offering incredible potential for customization. With ample room throughout and a functional floorplan, this property is ideal for buyers looking to create their dream space. The large back deck provides the perfect setting for morning coffee or entertaining friends and family.

13. 2016-05-19
    soldstatus $60,000
14. 2016-05-16
    soldstatus
15. 2015-09-08
    listed $62,500

ⓘ 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: $2,649 · $221/mo
• Projected year-2 tax: $2,649 · $221/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 FEMA zone X · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥108°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 4 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,723
• − Mortgage interest: −$3,473
• − Property taxes: −$2,649
• − Insurance: −$310
• − Repairs & maintenance: −$1,018
• − Management: −$1,018
• − Depreciation: −$1,804
• Taxable income: $2,452
• Est. tax owed @ 24.0%: −$588
• After-tax cash flow: $2,602/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: Granite City CUSD 9
• NCES district ID: 1717280
• Math proficiency: 9% ▼ -4.00%
• Reading proficiency: 11% ▼ -7.00%
• Median HH income: $45,082
• Composite: 9.15/100
• National rank: #9864
• State rank: #570 of 620 in IL

Livability — Granite City

• Score: 65/100
• State rank: #623
• US rank: #12751

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Granite City, IL
• County: Madison County · 189,064 people
• City population: 40,404
• Metro: St. Louis, MO-IL
• Population (ZIP): 40,404
• Household income: $60,031
• Rent vs Own: 25.0% rent · 75.0% own
• Severe rent burden: 923.0

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 (76%)
• Race & ethnicity: White 76% Hispanic / Latino 9% Black 9% Two or more races 7% Asian 1%
• Hispanic origin (detail): Mexican 7%
• Common ancestry: Romanian 2% Lithuanian 2% Serbian 2%
• Foreign-born: 3% · Canada, Vietnam
• Languages at home: 93% English-only · Spanish 5%

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: ▼ -56.88%
• Current HPI: 204.4612
• Rent YoY: ▲ 1.67%
• 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

-0.8% since first listed

9 events — show timeline

• 2026-04-13 Price Changed $62,000 MARIS as Distributed by MLS Grid
• 2026-04-13 Listed $67,320 MARIS as Distributed by MLS Grid
• 2026-01-19 Sold (MLS) — MARIS as Distributed by MLS Grid
• 2025-12-10 Pending — MARIS as Distributed by MLS Grid
• 2025-11-19 Listed $29,500 MARIS as Distributed by MLS Grid
• 2025-11-19 Coming Soon $29,500 MARIS as Distributed by MLS Grid
• 2016-05-19 Sold (Public Records) $60,000 Public Records
• 2016-05-16 Sold (MLS) — MARIS as Distributed by MLS Grid
• 2015-09-08 Listed $62,500 MARIS as Distributed by MLS Grid

Property tax history

+5.5%/yr

Latest (2024): $2,649 · +1.5% YoY. Source: county tax records.