3313 Leo St · Alton, IL 62002

$119,000

2 bd · 1.0 ba · 728 sqft · SingleFamily public records · 143 Days on market

Built 1950 9,226 sqft lot $163/sqft · 57% above area Est $138k · 14% under

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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).

• ARV discount +13.7/15.0
• Cash flow +8.4/30.0
• Rent growth +4.6/5.0
• Livability +3.2/5.0
• 1% rule +2.5/10.0
• Condition / age +2.5/5.0
• DSCR +2.3/10.0
• Schools +1.1/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Great opportunity for investors or landlords! This affordable property offers strong rental potential in a convenient Alton location. Features include a functional layout and a low maintenance exterior - perfect for adding to your portfolio or starting your investment journey. With demand for rentals remaining steady, this property presents an excellent chance to generate consistent cash flow. Welcome to this charming 4 bedroom, 2 bath house offering comfortable living in a smart, efficient layout. Original wood floors, updated bathroom, fenced backyard, walk out basement and a detached garage add loads of options for storage. Whether you are a first time buyer or an investor this home offers great potential and flexibility. Conveniently located near schools, shopping and local amenities. Check out this home today!

Key facts

• Original wood floors
• Fenced backyard
• Walk out basement

Tags

• ORIGINAL WOOD FLOORS
• UPDATED BATHROOM
• FENCED BACKYARD
• WALK OUT BASEMENT
• DETACHED GARAGE

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $119k.

Deal economics

• At list price, monthly cash flow is $-106 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $100k (15.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $89k (24.8% below list).
• Recommended offer: $89k (24.8% below list) — sets the bar for 1% rule.

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; 2 comparable units currently listed for rent nearby; 336 units permitted in Madison County in 2024 (0 in 5+ unit buildings).
• This rent is only 17% of the median local income ($61k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $823 of loan paydown is wiped out by about $4k 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.

Negotiation context

• It's been on market 143 days — a 12% lower offer ($105k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 4y ago 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.
• Current owner paid $95k; 25% above their basis — modest negotiation headroom, anchor on the comps not their cost.

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 $89,469 (24.8% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 143 days. Have you received any prior offers? Is the seller open to a 25% concession, seller financing, or rate buy-down credit?
3. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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?
9. 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.
10. 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.
11. 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: 0.75% ✗
• Cap rate: 5.23%
• Cash-on-cash: -3.80%
• DSCR: 0.83
• GRM: 11.1

CMA / ARV

• ARV (median comp): $137,846
• List price: $119,000
• Delta: -13.67%
• 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
3404 Oak Dr	0.09mi	2/1.0	728 (0%)	0mo	$122,900	$169	96
510 Marsh Ave	0.51mi	2/1.0	726 (-0%)	1mo	$31,700	$44	74
2814 Grandview Ave	0.46mi	2/1.0	756 (+4%)	0mo	$69,900	$92	72
3502 Oscar Ave	0.36mi	2/1.0	672 (-8%)	2mo	$105,000	$156	69
3006 Watalee St	0.52mi	2/1.0	720 (-1%)	7mo	$35,000	$49	68
3708 Coronado Dr	0.55mi	2/1.0	755 (+4%)	6mo	$110,000	$146	64
2614 Denny Ave	0.64mi	2/1.0	750 (+3%)	2mo	$85,000	$113	63
613 Leonard St	0.64mi	1/1.0 (-1)	730 (+0%)	4mo	$48,500	$66	61
3311 Sherman St	0.71mi	2/1.0	710 (-2%)	2mo	$75,000	$106	61
3512 Wickenhauser Ave	0.48mi	2/1.0	791 (+9%)	5mo	$105,000	$133	59
3619 Thomas Ave	0.73mi	2/1.0	800 (+10%)	3mo	$94,900	$119	47
301 Main St	0.69mi	3/2.0 (+1)	802 (+10%)	6mo	$27,000	$34	37

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: -17.3%
• Equity multiple: 0.36×
• Total profit: $-21,276
• Equity at exit: $17,743

10-year hold

• IRR: -2.1%
• Equity multiple: 0.83×
• Total profit: $-5,640
• Equity at exit: $10,289

Cash invested: $33,320 (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: 11.1×

Monthly cashflow live

• Estimated rent: $895 medium
• Mortgage (P&I): −$624
• Tax from tax record: −$139 /mo · $1,666/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$188
• Net cashflow: $-106

Break-even live

Break-even rent $1,028

Max offer price $100,339

Occupancy floor —

Sensitivity live

Price	-10% $-38	-5% $-72	+0% $-106	+5% $-139	+10% $-173
Rent	-10% $-176	-5% $-141	+0% $-106	+5% $-70	+10% $-35
Rate	-1.0pp $-46	-0.5pp $-75	base $-106	+0.5pp $-136	+1.0pp $-168

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: $29,750
• Closing costs: $3,570
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1408 Willard St Alton, IL	1.0	1.0	568	$750	$1.32	45d	1	0.66mi
806 Center St East Alton, IL	1.0	1.0	620	$675	$1.09	3d	1	1.02mi

Listing history 25 events

1. 2026-06-21
   days on market $119,000 Active 143 DOM
2. 2026-06-18
   days on market $119,000 Active 140 DOM
3. 2026-06-17
   days on market $119,000 Active 139 DOM
4. 2026-06-16
   days on market $119,000 Active 138 DOM
5. 2026-06-15
   days on market $119,000 Active 137 DOM
6. 2026-06-13
   days on market $119,000 Active 135 DOM
7. 2026-06-09
   days on market $119,000 Active 131 DOM
8. 2026-06-08
   days on market $119,000 Active 130 DOM
9. 2026-06-07
   days on market $119,000 Active 129 DOM
10. 2026-06-03
    days on market $119,000 Active 125 DOM
11. 2026-06-02
    days on market $119,000 Active 124 DOM
12. 2026-06-01
    days on market $119,000 Active 123 DOM
13. 2026-05-31
    days on market $119,000 Active 122 DOM
14. 2026-01-29
    listed $119,000 Active 827-char remark

    Show marketing remark (827 chars)

    Great opportunity for investors or landlords! This affordable property offers strong rental potential in a convenient Alton location. Features include a functional layout and a low maintenance exterior - perfect for adding to your portfolio or starting your investment journey. With demand for rentals remaining steady, this property presents an excellent chance to generate consistent cash flow. Welcome to this charming 4 bedroom, 2 bath house offering comfortable living in a smart, efficient layout. Original wood floors, updated bathroom, fenced backyard, walk out basement and a detached garage add loads of options for storage. Whether you are a first time buyer or an investor this home offers great potential and flexibility. Conveniently located near schools, shopping and local amenities. Check out this home today!

15. 2022-07-21
    soldstatus $95,000
16. 2022-07-18
    status Pending 393-char remark

    Show marketing remark (393 chars)

    This is a nicely appointed 4 bedroom ( 2 on main and 2 in lower level walkout) 1 3/4 bath freshly remodeled. Updated with stainless appliances. Nicely refinished wood floors new countertops, updated kitchen and bath. Very nice lower level with room for storage and a walkout to nice shady backyard. Do not miss this opportunity. seller providing home warranty from Americas Preferred for $425.

17. 2022-07-18
    status Pending

    Show marketing remark (393 chars)

    This is a nicely appointed 4 bedroom ( 2 on main and 2 in lower level walkout) 1 3/4 bath freshly remodeled. Updated with stainless appliances. Nicely refinished wood floors new countertops, updated kitchen and bath. Very nice lower level with room for storage and a walkout to nice shady backyard. Do not miss this opportunity. seller providing home warranty from Americas Preferred for $425.

18. 2022-07-18
    soldstatus $95,000 Closed 393-char remark

    Show marketing remark (393 chars)

    This is a nicely appointed 4 bedroom ( 2 on main and 2 in lower level walkout) 1 3/4 bath freshly remodeled. Updated with stainless appliances. Nicely refinished wood floors new countertops, updated kitchen and bath. Very nice lower level with room for storage and a walkout to nice shady backyard. Do not miss this opportunity. seller providing home warranty from Americas Preferred for $425.

19. 2022-07-18
    soldstatus Closed

    Show marketing remark (393 chars)

    This is a nicely appointed 4 bedroom ( 2 on main and 2 in lower level walkout) 1 3/4 bath freshly remodeled. Updated with stainless appliances. Nicely refinished wood floors new countertops, updated kitchen and bath. Very nice lower level with room for storage and a walkout to nice shady backyard. Do not miss this opportunity. seller providing home warranty from Americas Preferred for $425.

20. 2022-06-10
    listed Contingent - Continue to Show 393-char remark

    Show marketing remark (393 chars)

    This is a nicely appointed 4 bedroom ( 2 on main and 2 in lower level walkout) 1 3/4 bath freshly remodeled. Updated with stainless appliances. Nicely refinished wood floors new countertops, updated kitchen and bath. Very nice lower level with room for storage and a walkout to nice shady backyard. Do not miss this opportunity. seller providing home warranty from Americas Preferred for $425.

21. 2022-06-10
    historical Active Under Contract

    Show marketing remark (393 chars)

    This is a nicely appointed 4 bedroom ( 2 on main and 2 in lower level walkout) 1 3/4 bath freshly remodeled. Updated with stainless appliances. Nicely refinished wood floors new countertops, updated kitchen and bath. Very nice lower level with room for storage and a walkout to nice shady backyard. Do not miss this opportunity. seller providing home warranty from Americas Preferred for $425.

22. 2022-06-01
    listed $94,000 Active
23. 2022-05-27
    historical $94,000

    Show marketing remark (393 chars)

    This is a nicely appointed 4 bedroom ( 2 on main and 2 in lower level walkout) 1 3/4 bath freshly remodeled. Updated with stainless appliances. Nicely refinished wood floors new countertops, updated kitchen and bath. Very nice lower level with room for storage and a walkout to nice shady backyard. Do not miss this opportunity. seller providing home warranty from Americas Preferred for $425.

24. 2022-05-27
    listed $94,000 393-char remark

    Show marketing remark (393 chars)

    This is a nicely appointed 4 bedroom ( 2 on main and 2 in lower level walkout) 1 3/4 bath freshly remodeled. Updated with stainless appliances. Nicely refinished wood floors new countertops, updated kitchen and bath. Very nice lower level with room for storage and a walkout to nice shady backyard. Do not miss this opportunity. seller providing home warranty from Americas Preferred for $425.

25. 2002-11-04
    soldstatus $54,500

ⓘ 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: $1,666 · $139/mo
• Projected year-2 tax: $2,184 · $182/mo
• Expected delta: +$518/yr (+$43/mo · 31.1%)

ⓘ 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 ≥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: $10,736
• − Mortgage interest: −$6,666
• − Property taxes: −$1,666
• − Insurance: −$595
• − Repairs & maintenance: −$859
• − Management: −$859
• − Depreciation: −$3,462
• Taxable loss: −$3,370
• Est. tax savings @ 24.0%: +$809
• After-tax cash flow: $-459/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

+118.3% since first listed

12 events — show timeline

• 2026-01-29 Listed $119,000 MARIS as Distributed by MLS Grid
• 2022-07-21 Sold (Public Records) $95,000 Public Records
• 2022-07-18 Pending — MRED as Distributed by MLS Grid
• 2022-07-18 Pending — MARIS as Distributed by MLS Grid
• 2022-07-18 Sold (MLS) — MARIS as Distributed by MLS Grid
• 2022-07-18 Sold (MLS) $95,000 MRED as Distributed by MLS Grid
• 2022-06-10 Listed — MRED as Distributed by MLS Grid
• 2022-06-10 Contingent — MARIS as Distributed by MLS Grid
• 2022-06-01 Listed $94,000 MARIS as Distributed by MLS Grid
• 2022-05-27 Coming Soon $94,000 MARIS as Distributed by MLS Grid
• 2022-05-27 Listed $94,000 MRED as Distributed by MLS Grid
• 2002-11-04 Sold (Public Records) $54,500 Public Records

Property tax history

+3.8%/yr

Latest (2024): $1,666 · +9.9% YoY. Source: county tax records.