1220 Main St · Alton, IL 62002

$56,900

3 bd · 1.5 ba · 896 sqft · SingleFamily public records · 59 Days on market

Built 1936 8,250 sqft lot $64/sqft · 5% above area Est $81k · 30% 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
• 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

Handy? Use your skills to gain sweat equity here. Look Here! Priced to sell. Upper alton Classic! This Dutch Colonial style home with 2 car detached garage, 2 porches, new water heater, updated furnace. This home could use updates. It is in "lived in" and all components are in working order. Stone foundation and basement, nice size rooms, high ceilings, wood floors, pocket doors, 2 baths, dining room and eat in kitchen. Close to Upper Alton Business district, Alton Middle school and East Grade school, bus lines, SIU School of Dentistry. Within 10 minutes to I-255 access. Minutes from St Louis, MO or Scott Air Force Base. Sold as is. Buyer will be responsible for City Occupancy permit.

Key facts

• New water heater
• Updated furnace
• Stone foundation

Tags

• DUTCH COLONIAL STYLE HOME
• 2 CAR DETACHED GARAGE
• NEW WATER HEATER
• UPDATED FURNACE
• STONE FOUNDATION
• HIGH CEILINGS

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $57k.

Deal economics

• At list price, monthly cash flow is $433 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $57k).
• Recommended offer: $55k (3.0% below list) — sets the bar for market timing.
• Cap rate 15.4% 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; 8 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 $393 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 + 8.0% rent growth), your $16k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 59 days — a 3% lower offer ($55k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts; this cycle's ask has dropped $3k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1936 — 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 $55,193 (3.0% below list)

Questions for the listing agent

1. It's been on market 59 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 1936 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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.
7. 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.
8. 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: 1.94% ✓
• Cap rate: 15.42%
• Cash-on-cash: 32.60%
• DSCR: 2.45
• GRM: 4.3

CMA / ARV

• ARV (median comp): $81,144
• List price: $56,900
• Delta: -29.88%
• 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
1053 Washington Ave	0.16mi	3/1.5	918 (+2%)	2mo	$99,900	$109	87
1205 Florence St	0.15mi	2/1.0 (-1)	938 (+5%)	1mo	$99,500	$106	78
516 Sering Ave	0.45mi	2/1.0 (-1)	875 (-2%)	2mo	$110,000	$126	67
1521 Seminary St	0.29mi	2/1.0 (-1)	810 (-10%)	7mo	$107,500	$133	57
600 Lampert St	0.44mi	2/1.0 (-1)	824 (-8%)	3mo	$1,500	$2	57
1318 Rixon St	0.52mi	2/1.0 (-1)	929 (+4%)	9mo	$135,000	$145	55
1429 S Rodgers Ave	0.72mi	3/1.0	952 (+6%)	2mo	$90,000	$95	52
308 Allen St	0.66mi	2/1.0 (-1)	876 (-2%)	9mo	$59,900	$68	51
2116 Mills Ave	0.38mi	2/1.0 (-1)	780 (-13%)	7mo	$34,000	$44	48
301 Main St	0.58mi	3/2.0	802 (-10%)	6mo	$27,000	$34	48
2309 Judson Ave	0.56mi	2/1.0 (-1)	818 (-9%)	8mo	$14,500	$18	46
1416 Milton Rd	0.62mi	4/2.0 (+1)	1,026 (+14%)	2mo	$65,000	$63	38

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: 33.6%
• Equity multiple: 2.52×
• Total profit: $24,225
• Equity at exit: $8,484

10-year hold

• IRR: 43.3%
• Equity multiple: 6.23×
• Total profit: $83,333
• Equity at exit: $4,920

Cash invested: $15,932 (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: 4.3×

Monthly cashflow live

• Estimated rent: $1,104 high
• Mortgage (P&I): −$298
• Tax from tax record: −$117 /mo · $1,410/yr
• Insurance: −$24
• HOA: −$0
• Vacancy / Maint / Mgmt: −$232
• Net cashflow: $433

Break-even live

Break-even rent $556

Max offer price $56,900

Occupancy floor 56%

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: $14,225
• Closing costs: $1,707
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2222 Brown St Alton, IL	4.0	2.0	1025	$1,050	$1.02	7d	1	0.26mi
2418 Sanford Ave Alton, IL	2.0	1.0	958	$875	$0.91	20d	1	0.32mi
306 Lampert St Alton, IL	2.0	1.0	925	$1,000	$1.08	1d	1	0.61mi
3305 Franor St Alton, IL	2.0	1.0	1000	$549	$0.55	1d	1	0.71mi
3303 Jackson St Alton, IL	2.0	1.0	1050	$1,295	$1.23	43d	1	0.75mi
3400 Milton Dr Alton, IL	2.0	1.5	972	$1,350	$1.39	3d	1	1.06mi
2016 Salu St Alton, IL	3.0	1.0	1073	$1,100	$1.03	15d	1	1.08mi
504 Cherry St Alton, IL	2.0	1.0	1000	$895	$0.90	43d	1	1.18mi

Listing history 20 events

1. 2026-06-18
   days on market $56,900 Active 59 DOM
2. 2026-06-17
   days on market $56,900 Active 58 DOM
3. 2026-06-16
   days on market $56,900 Active 57 DOM
4. 2026-06-15
   days on market $56,900 Active 56 DOM
5. 2026-06-13
   days on market $56,900 Active 54 DOM
6. 2026-06-09
   days on market $56,900 Active 50 DOM
7. 2026-06-08
   days on market $56,900 Active 49 DOM
8. 2026-06-07
   pricedays on market $56,900 Active 48 DOM
9. 2026-06-03
   days on market $59,900 Active 44 DOM
10. 2026-06-02
    days on market $59,900 Active 43 DOM
11. 2026-06-01
    days on market $59,900 Active 42 DOM
12. 2026-05-31
    days on market $59,900 Active 41 DOM
13. 2026-05-12
    status Active 706-char remark

    Show marketing remark (706 chars)

    Handy? Use your skills to gain sweat equity here. Look Here! Priced to sell. Upper alton Classic! This Dutch Colonial style home with 2 car detached garage, 2 porches, new water heater, updated furnace. This home could use updates. It is in "lived in" and all components are in working order. Stone foundation and basement, nice size rooms, high ceilings, wood floors, pocket doors, 2 baths, dining room and eat in kitchen. Close to Upper Alton Business district, Alton Middle school and East Grade school, bus lines, SIU School of Dentistry. Within 10 minutes to I-255 access. Minutes from St Louis, MO or Scott Air Force Base. Sold as is. Buyer will be responsible for City Occupancy permit.

14. 2026-05-08
    historical Active Under Contract 706-char remark

    Show marketing remark (706 chars)

    Handy? Use your skills to gain sweat equity here. Look Here! Priced to sell. Upper alton Classic! This Dutch Colonial style home with 2 car detached garage, 2 porches, new water heater, updated furnace. This home could use updates. It is in "lived in" and all components are in working order. Stone foundation and basement, nice size rooms, high ceilings, wood floors, pocket doors, 2 baths, dining room and eat in kitchen. Close to Upper Alton Business district, Alton Middle school and East Grade school, bus lines, SIU School of Dentistry. Within 10 minutes to I-255 access. Minutes from St Louis, MO or Scott Air Force Base. Sold as is. Buyer will be responsible for City Occupancy permit.

15. 2026-04-20
    listed $59,900 Active 706-char remark

    Show marketing remark (706 chars)

    Handy? Use your skills to gain sweat equity here. Look Here! Priced to sell. Upper alton Classic! This Dutch Colonial style home with 2 car detached garage, 2 porches, new water heater, updated furnace. This home could use updates. It is in "lived in" and all components are in working order. Stone foundation and basement, nice size rooms, high ceilings, wood floors, pocket doors, 2 baths, dining room and eat in kitchen. Close to Upper Alton Business district, Alton Middle school and East Grade school, bus lines, SIU School of Dentistry. Within 10 minutes to I-255 access. Minutes from St Louis, MO or Scott Air Force Base. Sold as is. Buyer will be responsible for City Occupancy permit.

16. 2026-04-20
    historical $59,900 706-char remark

    Show marketing remark (706 chars)

    Handy? Use your skills to gain sweat equity here. Look Here! Priced to sell. Upper alton Classic! This Dutch Colonial style home with 2 car detached garage, 2 porches, new water heater, updated furnace. This home could use updates. It is in "lived in" and all components are in working order. Stone foundation and basement, nice size rooms, high ceilings, wood floors, pocket doors, 2 baths, dining room and eat in kitchen. Close to Upper Alton Business district, Alton Middle school and East Grade school, bus lines, SIU School of Dentistry. Within 10 minutes to I-255 access. Minutes from St Louis, MO or Scott Air Force Base. Sold as is. Buyer will be responsible for City Occupancy permit.

17. 2026-01-07
    price $52,900
18. 2025-10-31
    price $59,900
19. 2025-10-16
    listed $60,000 Active
20. 2025-10-13
    historical

ⓘ 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: $1,410 · $117/mo
• Projected year-2 tax: $1,410 · $117/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 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: $13,251
• − Mortgage interest: −$3,187
• − Property taxes: −$1,410
• − Insurance: −$284
• − Repairs & maintenance: −$1,060
• − Management: −$1,060
• − Depreciation: −$1,655
• Taxable income: $4,594
• Est. tax owed @ 24.0%: −$1,103
• After-tax cash flow: $4,091/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

-0.2% since first listed

8 events — show timeline

• 2026-05-12 Relisted — MARIS as Distributed by MLS Grid
• 2026-05-08 Contingent — MARIS as Distributed by MLS Grid
• 2026-04-20 Listed $59,900 MARIS as Distributed by MLS Grid
• 2026-04-20 Coming Soon $59,900 MARIS as Distributed by MLS Grid
• 2026-01-07 Price Changed $52,900 MARIS as Distributed by MLS Grid
• 2025-10-31 Price Changed $59,900 MARIS as Distributed by MLS Grid
• 2025-10-16 Listed $60,000 MARIS as Distributed by MLS Grid
• 2025-10-13 Coming Soon — MARIS as Distributed by MLS Grid

Property tax history

+1.0%/yr

Latest (2024): $1,410 · +86.4% YoY. Source: county tax records.