2204 Amelia St · Alton, IL 62002

$19,000

2 bd · 1.0 ba · 980 sqft · SingleFamily · 5 Days on market

Built 1946 2,435 sqft lot $19/sqft · 70% below area

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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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• 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

Lots of potential to in this one!! This home offers 2 bedrooms, large living room and kitchen, a bonus room that could be used as a dining room, wrap around covered porch and a partial basement. This one is going to need some work but could be a great home for someone!! Home is being sold AS-IS. No repairs will be made and occupancy permit will not be provided. All of the personal property in home stays with the house.

Key facts

• 2,435 sq ft lot
• Built 1946
• Listed 5 days

Property features AI

Finance

• Financial info: Seller may consider concessions; Lease not considered; No second mortgage indicated

Exterior

• Utilities: Public water; Public sewer; Electric service by Ameren; Electricity connected
• Home design: Single-family residence; One story; Fixer condition; Bank owned
• Construction: Aluminum siding; Architectural shingle roof; Built (year per public records); Partial finished area above grade per public records
• Exterior features: Back yard

Interior

• Kitchen: Kitchen on the main level
• Bedrooms: 2 bedrooms on the main level
• Bathrooms: 1 full bathroom on the main level
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Living room; Bonus room; Has a partial, unfinished block basement

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $19k.

Deal economics

• At list price, monthly cash flow is $637 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $19k).
• Cap rate 46.5% 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: 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; 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 $131 of loan paydown is wiped out by about $570 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 $5k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: property tax is 3.6% of price; built in 1946 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $19,000

Questions for the listing agent

1. Built in 1946 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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. 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?
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: 5.34% ✓
• Cap rate: 46.50%
• Cash-on-cash: 143.61%
• DSCR: 7.39
• GRM: 1.6

CMA / ARV

• ARV (median comp): $63,045
• List price: $19,000
• Delta: -69.86%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2421 Main St	0.35mi	3/1.0 (+1)	990 (+1%)	16mo	$69,900	$71	64
2623 Powhattan St	0.35mi	2/1.0	876 (-11%)	10mo	$65,000	$74	58
1235 Fairway Dr	0.49mi	2/1.0	1,076 (+10%)	5mo	$60,000	$56	56
2114 Rockwell St	0.06mi	2/1.0	1,121 (+14%)	20mo	$45,000	$40	56
1915 Jersey St	0.26mi	2/1.0	1,125 (+15%)	10mo	$85,000	$76	55
2004 Clawson St	0.39mi	2/1.0	896 (-9%)	16mo	$78,000	$87	54
2329 Brown St	0.64mi	2/1.0	900 (-8%)	13mo	$110,000	$122	46
1638 Jersey St	0.43mi	3/2.0 (+1)	1,111 (+13%)	5mo	$120,000	$108	44
2213 Johnson St	0.64mi	3/1.5 (+1)	1,100 (+12%)	10mo	$59,900	$54	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: —
• Equity multiple: 9.06×
• Total profit: $42,870
• Equity at exit: $2,833

10-year hold

• IRR: —
• Equity multiple: 22.45×
• Total profit: $114,100
• Equity at exit: $1,643

Cash invested: $5,320 (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: 1.6×

Monthly cashflow live

• Estimated rent: $1,015 high
• Mortgage (P&I): −$100
• Tax from tax record: −$57 /mo · $689/yr
• Insurance: −$8
• HOA: −$0
• Vacancy / Maint / Mgmt: −$213
• Net cashflow: $637

Break-even live

Break-even rent $209

Max offer price $19,000

Occupancy floor 32%

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: $4,750
• Closing costs: $570
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2016 Salu St Alton, IL	3.0	1.0	1073	$1,100	$1.03	16d	1	0.30mi
3303 Jackson St Alton, IL	2.0	1.0	1050	$1,295	$1.23	44d	1	1.05mi
1408 Willard St Alton, IL	1.0	1.0	568	$750	$1.32	44d	1	1.06mi
2418 Sanford Ave Alton, IL	2.0	1.0	958	$875	$0.91	20d	1	1.08mi
306 Lampert St Alton, IL	2.0	1.0	925	$1,000	$1.08	2d	1	1.38mi
3305 Franor St Alton, IL	2.0	1.0	1000	$549	$0.55	2d	1	1.40mi
504 Cherry St Alton, IL	2.0	1.0	1000	$895	$0.90	44d	1	1.46mi

Listing history 2 events

1. 2026-05-12
   status Pending 422-char remark
2. 2026-05-07
   listed $19,000 Active 422-char remark

ⓘ 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: $689 · $57/mo
• Projected year-2 tax: $689 · $57/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 4/10 Moderate 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: $12,177
• − Mortgage interest: −$1,064
• − Property taxes: −$689
• − Insurance: −$95
• − Repairs & maintenance: −$974
• − Management: −$974
• − Depreciation: −$553
• Taxable income: $7,828
• Est. tax owed @ 24.0%: −$1,879
• After-tax cash flow: $5,761/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

2 events — show timeline

• 2026-05-12 Pending — MARIS as Distributed by MLS Grid
• 2026-05-07 Listed $19,000 MARIS as Distributed by MLS Grid

Property tax history

+4.0%/yr

Latest (2024): $689 · +181.1% YoY. Source: county tax records.