517 Belvedere Dr · Belleville, IL 62223

$119,000

3 bd · 2.0 ba · 1,176 sqft · SingleFamily public records · 25 Days on market

Built 1950 0.26 ac lot Est $160k · 26% 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 +21.7/30.0
• ARV discount +15.0/15.0
• Appreciation +9.8/10.0
• DSCR +6.9/10.0
• 1% rule +6.3/10.0
• Livability +3.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.2/10.0

Listing remarks

Discover the charm of 517 Belvedere DR , a single-family residence built in 1950 with Three Bedrooms/ One Bathroom and a laundry Room. The ranch-style exterior welcomes you, hinting at the ease of single-level living within. Step outside to a private yard, offering a serene space for relaxation or outdoor activities. Practicality meets convenience with an attached carport, providing shelter for your vehicle, and a dedicated laundry room that simplifies daily chores. Enjoy peaceful moments on the porch, a perfect spot to unwind. This property is an exceptional offering that invites you to envision your new chapter. This is a great Investment property to add to your portfolio, already produci

Key facts

• 0.26 acre lot
• Parking
• Built 1950

Property features AI

Finance

• Other: Living area reported by assessor; Lot dimensions 80 x 140; Lot size approximately 0.26 acre; No pool; No other structures
• Financial info: Lease not considered; No second mortgage indicated

Exterior

• Parking: Attached carport (1 space); Driveway; Total parking spaces: 1
• Utilities: Public water; Public sewer; Electric service by Ameren; Electricity connected; water and sewer available
• Home design: Single family residence; One level; Updated/remodeled; Private ownership; Entry/structure: Raised foundation; Facing/road frontage: County road
• Construction: Vinyl siding; Shingle roof; Raised foundation; Built information from assessor
• Exterior features: Private yard; Deck; Panel doors

Interior

• Kitchen: No appliances listed
• Bedrooms: 3 bedrooms (all on main level)
• Flooring: Carpet; Vinyl
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Display window(s); Updated/remodeled condition
• Laundry & utility: No laundry appliances listed

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $119k.

Deal economics

• At list price, monthly cash flow is $183 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $119k).
• Recommended offer: $117k (1.5% below list) — sets the bar for market timing.
• Cap rate 8.1% vs local median 5.6% in Belleville — 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 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: Belleville High School-West (math 19% / reading 26%, grade F, #317 of 693 statewide, top 46%, 2,234 students, 0% FRL).
• Market conditions: 103 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 783 units permitted in St. Clair County in 2024 (378 in 5+ unit buildings).

Forward outlook

• In year one you build about $12k of equity ($823 loan paydown + $11k appreciation (9.5% local appreciation)).
• St. Clair County population projected at -23% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (9.5% appreciation + 3.0% rent growth), your $33k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 25 days — a 2% lower offer ($117k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 3y ago; this cycle's ask has dropped $16k (12%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1950 — 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 $117,215 (1.5% below list)

Questions for the listing agent

1. Built in 1950 — 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. 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.
5. 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.
6. 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: 1.13% ✓
• Cap rate: 8.14%
• Cash-on-cash: 6.61%
• DSCR: 1.29
• GRM: 7.4

CMA / ARV

• ARV (on-the-fly): $159,936
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
100 Cascade Dr	0.29mi	3/1.0	1,164 (-1%)	1mo	$59,900	$51	80
524 Pembroke Dr	0.05mi	3/1.0	1,161 (-1%)	18mo	$100,000	$86	76
512 Pembroke Dr	0.03mi	3/2.0	1,069 (-9%)	10mo	$160,000	$150	75
217 Cascade Dr	0.23mi	2/1.0 (-1)	1,164 (-1%)	11mo	$125,000	$107	70
19 Cascade Dr	0.28mi	3/2.0	1,236 (+5%)	18mo	$184,900	$150	63
21 Richard Pl	0.43mi	3/1.0	1,104 (-6%)	4mo	$150,000	$136	62
29 Villa Dr	0.39mi	3/2.0	1,120 (-5%)	18mo	$149,000	$133	59
621 Eiler Rd	0.41mi	3/1.0	1,272 (+8%)	7mo	$176,900	$139	58
631 Monica	0.39mi	3/1.0	1,057 (-10%)	7mo	$145,999	$138	55
540 Valencia Dr	0.24mi	4/2.0 (+1)	1,050 (-11%)	13mo	$82,500	$79	55
107 Howard Dr	0.46mi	4/2.0 (+1)	1,352 (+15%)	4mo	$155,000	$115	45
8317 Old Saint Louis Rd	0.68mi	2/1.0 (-1)	1,060 (-10%)	12mo	$180,000	$170	33

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

9.5% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 28.1%
• Equity multiple: 3.18×
• Total profit: $72,496
• Equity at exit: $102,888

10-year hold

• IRR: 24.7%
• Equity multiple: 7.11×
• Total profit: $203,438
• Equity at exit: $217,445

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 62223

• Home prices YoY: 3.8%
• Active inventory: 103
• Price-to-rent: 7.4×

Monthly cashflow live

• Estimated rent: $1,349 medium
• Mortgage (P&I): −$624
• Tax from tax record: −$208 /mo · $2,500/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$283
• Net cashflow: $183

Break-even live

Break-even rent $1,116

Max offer price $119,000

Occupancy floor 81%

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
7235 Westfield Plaza Dr Belleville, IL	1.0–2.0	1.0	795	$975	$1.23	2d	1	1.32mi
920 S 74th St Belleville, IL	2.0	1.0	1300	$1,400	$1.08	12d	1	1.45mi

Listing history 25 events

1. 2026-06-18
   days on market $119,000 Active 25 DOM
2. 2026-06-17
   days on market $119,000 Active 24 DOM
3. 2026-06-16
   days on market $119,000 Active 23 DOM
4. 2026-06-15
   days on market $119,000 Active 22 DOM
5. 2026-06-13
   days on market $119,000 Active 20 DOM
6. 2026-06-09
   days on market $119,000 Active 16 DOM
7. 2026-06-08
   days on market $119,000 Active 15 DOM
8. 2026-06-07
   days on market $119,000 Active 14 DOM
9. 2026-06-03
   days on market $119,000 Active 10 DOM
10. 2026-06-02
    days on market $119,000 Active 9 DOM
11. 2026-06-01
    days on market $119,000 Active 8 DOM
12. 2026-05-31
    days on market $119,000 Active 7 DOM
13. 2026-05-22
    historical $119,000
14. 2025-09-15
    listed $134,999 Active
15. 2025-06-11
    price $149,999
16. 2025-02-10
    listed $154,900 Active
17. 2023-07-17
    soldstatus $125,000
18. 2023-07-17
    soldstatus $1,369,000
19. 2023-05-01
    soldstatus $114,667
20. 2023-04-28
    status Pending
21. 2023-04-28
    soldstatus Closed
22. 2023-04-21
    listed $89,900
23. 2023-04-21
    listed Active Under Contract
24. 2015-09-14
    soldstatus $300,000
25. 2006-09-28
    soldstatus $24,500

ⓘ 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: $2,500 · $208/mo
• Projected year-2 tax: $2,601 · $217/mo
• Expected delta: +$101/yr (+$8/mo · 4.0%)

ⓘ 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 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 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,184
• − Mortgage interest: −$6,666
• − Property taxes: −$2,500
• − Insurance: −$595
• − Repairs & maintenance: −$1,295
• − Management: −$1,295
• − Depreciation: −$3,462
• Taxable income: $372
• Est. tax owed @ 24.0%: −$89
• After-tax cash flow: $2,112/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

• County: Saint Clair County · 169,691 people
• City population: 47,407
• Metro: St. Louis, MO-IL
• Population (ZIP): 16,269
• Household income: $73,700
• Rent vs Own: 23.6% rent · 76.4% own
• Severe rent burden: 656.0

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: Majority White (62%)
• Race & ethnicity: White 62% Black 27% Two or more races 9% Hispanic / Latino 4%
• Common ancestry: Romanian 3% Lithuanian 3% Slovak 2%
• Foreign-born: 2% · Canada, Guatemala
• Languages at home: 96% English-only · Spanish 2%

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: ▲ 9.50%
• Current HPI: 259.15
• Rent YoY: —
• 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

+385.7% since first listed

13 events — show timeline

• 2026-05-22 Coming Soon $119,000 MARIS as Distributed by MLS Grid
• 2025-09-15 Listed $134,999 MARIS as Distributed by MLS Grid
• 2025-06-11 Price Changed $149,999 MARIS as Distributed by MLS Grid
• 2025-02-10 Listed $154,900 MARIS as Distributed by MLS Grid
• 2023-07-17 Sold (Public Records) $1,369,000 Public Records
• 2023-07-17 Sold (Public Records) $125,000 Public Records
• 2023-05-01 Sold (Public Records) $114,667 Public Records
• 2023-04-28 Pending — MARIS as Distributed by MLS Grid
• 2023-04-28 Sold (MLS) — MARIS as Distributed by MLS Grid
• 2023-04-21 Listed — MARIS as Distributed by MLS Grid
• 2023-04-21 Listed $89,900 MARIS as Distributed by MLS Grid
• 2015-09-14 Sold (Public Records) $300,000 Public Records
• 2006-09-28 Sold (Public Records) $24,500 Public Records

Property tax history

+3.6%/yr

Latest (2024): $2,500 · +6.9% YoY. Source: county tax records.