24 S 38th St · Belleville, IL 62226

$76,000

1 bd · 3.0 ba · 896 sqft · SingleFamily public records · 2 Days on market

Built 1950 8,276 sqft lot Est $58k · 30% over

---

Why this score? — see what drove the C 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 +28.2/30.0
• DSCR +10.0/10.0
• 1% rule +7.2/10.0
• Livability +3.9/5.0
• Rent growth +3.6/5.0
• Condition / age +2.5/5.0
• Schools +2.2/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks

TONS OF POTENTIAL HERE!! CHARMING BRICK WITH OVERSIZED 2 CAR ATTACHED GARAGE. HUGE LIVING ROOM COULD OFFER DIFFERENT OPTIONS. ONE BEDROOM AND 2 BATH AT PRESENT. POSSIBLE 2ND BEDROOM IN LOWER LEVEL. 2ND BATH IN LOWER LEVEL. FULL KITCHEN IN LOWER LEVEL HAS ISLAND/PENINSULA. KITCHEN OPENS TO FAMILY ROOM WITH BRICK GAS FIREPLACE. STORAGE/LAUNDRY AREA COULD BE REVAMPED INTO SECOND BEDROOM W/ BATH. NEWER HVAC, THERMAL WINDOWS, ARCH. SHINGLE ROOF W/ NEWER GUTTERING AND GUTTER GUARDS. NEWER FRONT DOOR & STORM DOOR. CIRCUIT BREAKER PANEL IN GARAGE. HWH ONLY 6 MONTHS OLD. BEAUTIFUL WHITE VINYL FENCE ENCOMPASSES THE LARGE LEVEL BACK YARD. MANY SHADE TREES. COMFORTABLE PATIO. MASSIVE 23 X 36 DEEP

Key facts

• 8,276 sq ft lot
• 2 garage spots
• Built 1950

Property features AI

Finance

• Financial info: Lease not considered; Seller may consider concessions
• HOA & community: Senior community

Exterior

• Parking: Concrete driveway; Off-street parking and on-street parking; 2-car garage with garage door opener; Storage and workshop space in garage
• Utilities: Public water; Public sewer; Electricity (Ameren, single phase); Electricity and natural gas available and connected
• Home design: Single-family residence; Two levels; House structure; Fixer condition; Private ownership
• Construction: Brick and vinyl siding exterior; Architectural shingle roof; Raised foundation; Year built per public records
• Exterior features: Covered front porch and patio; Private yard; Rain gutters; Vinyl privacy fencing with gate; Panel and storm doors

Interior

• Kitchen: Kitchen adjoins family room and includes an island
• Bedrooms: Huge primary bedroom (main level); Total of 1 bedroom
• Flooring: Carpet; Ceramic tile; Laminate
• Bathrooms: 2 full bathrooms; Main level full bath; Lower level full bath with shower
• Heating & cooling: Natural gas heating; Central air conditioning; Ceiling fans; Gas (connected/available)
• Interior features: Ceiling fans; Eat-in kitchen; Kitchen island; Storage; Insulated windows with screens
• Laundry & utility: Laundry in basement; Gas water heater

What this means for you Summary

Snapshot

• This is a 1-bed/3.0-bath single-family listed at $76k.

Deal economics

• At list price, monthly cash flow is $241 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($931 rent vs $76k).
• Cap rate 10.1% 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: Rents rising fast (+4.6%/yr); 190 active listings in the ZIP; 15 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 783 units permitted in St. Clair County in 2024 (378 in 5+ unit buildings).
• This rent is only 16% of the median local income ($71k/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 $525 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• St. Clair County population projected at -23% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 4.6% rent growth), your $21k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.

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 $76,000

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: 1.22% ✓
• Cap rate: 10.10%
• Cash-on-cash: 13.61%
• DSCR: 1.61
• GRM: 6.8

CMA / ARV

• ARV (on-the-fly): $58,240
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
108 S 37th St	0.10mi	2/1.0 (+1)	840 (-6%)	1mo	$45,000	$54	72
14 N 41st St	0.17mi	2/1.0 (+1)	986 (+10%)	4mo	$133,000	$135	59
102 S 34th St	0.26mi	2/1.0 (+1)	806 (-10%)	3mo	$135,000	$167	56
14 N 38th St	0.12mi	2/1.0 (+1)	1,029 (+15%)	8mo	$150,000	$146	50
435 N 38th St	0.39mi	2/1.0 (+1)	997 (+11%)	1mo	$50,000	$50	49
123 Verne Ave	0.71mi	2/1.0 (+1)	868 (-3%)	4mo	$135,000	$156	45
222 N 46th St	0.62mi	1/1.0	990 (+10%)	6mo	$49,900	$50	41
624 Royal Heights Rd	0.69mi	2/1.0 (+1)	960 (+7%)	3mo	$30,000	$31	40
120 N 46th St	0.54mi	2/1.0 (+1)	1,028 (+15%)	0mo	$40,000	$39	37
2709 Sassy Ln	0.62mi	2/1.0 (+1)	1,008 (+12%)	3mo	$103,000	$102	35
652 N 39th St	0.71mi	2/1.0 (+1)	984 (+10%)	4mo	$64,000	$65	34
639 Royal Heights Rd	0.73mi	2/1.0 (+1)	1,004 (+12%)	8mo	$30,000	$30	26

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 · 4.56% rent growth · sell at horizon

5-year hold

• IRR: 5.4%
• Equity multiple: 1.21×
• Total profit: $4,540
• Equity at exit: $11,332

10-year hold

• IRR: 16.1%
• Equity multiple: 2.41×
• Total profit: $30,017
• Equity at exit: $6,571

Cash invested: $21,280 (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 62226

• Rents YoY: 4.6%
• Active inventory: 190
• Price-to-rent: 6.8×

Monthly cashflow live

• Estimated rent: $931 high
• Mortgage (P&I): −$399
• Tax from tax record: −$64 /mo · $765/yr
• Insurance: −$32
• HOA: −$0
• Vacancy / Maint / Mgmt: −$195
• Net cashflow: $241

Break-even live

Break-even rent $625

Max offer price $76,000

Occupancy floor 69%

Sensitivity live

Price	-10% $284	-5% $263	+0% $241	+5% $220	+10% $198
Rent	-10% $168	-5% $205	+0% $241	+5% $278	+10% $315
Rate	-1.0pp $280	-0.5pp $261	base $241	+0.5pp $222	+1.0pp $202

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: $19,000
• Closing costs: $2,280
• Reserves months: —
• Total cash needed: —

Rent comps 15 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
18 S 44th St Belleville, IL	1.0	1.0	550	$700	$1.27	16d	1	0.29mi
18 S 44th St Belleville, IL	1.0	1.0	550	$700	$1.27	4d	1	0.29mi
56 Friendly Dr Belleville, IL	2.0	1.0	1000	$1,550	$1.55	24d	1	0.45mi
4516 W Main St Belleville, IL	2.0	1.0	607	$850	$1.40	24d	1	0.48mi
219 Freedom Dr Unit 228-P Belleville, IL	2.0	1.0	936	$970	$1.04	24d	1	0.69mi
219 Freedom Dr Unit 232-B Belleville, IL	2.0	1.0	936	$895	$0.96	24d	1	0.69mi
219 Freedom Dr Unit G-10 Belleville, IL	1.0	1.0	612	$795	$1.30	24d	1	0.69mi
219 Freedom Dr Unit 219-U Belleville, IL	1.0	1.0	612	$730	$1.19	24d	1	0.69mi
219 Freedom Dr Unit 228-G Belleville, IL	2.0	1.0	936	$895	$0.96	5d	1	0.69mi
219 Freedom Dr Unit C-05 Belleville, IL	1.0	1.0	612	$795	$1.30	4d	1	0.69mi
219 Freedom Dr Unit 232-Q Belleville, IL	2.0	1.0	936	$895	$0.96	19d	1	0.69mi
219 Freedom Dr Unit 236-M Belleville, IL	1.0	1.0	612	$730	$1.19	4d	1	0.69mi
31 S 27th St Belleville, IL	2.0	1.0	1000	$915	$0.92	24d	1	0.70mi
1000 Royal Heights Rd Belleville, IL	2.0	1.5	1100	$1,345	$1.22	24d	1	1.05mi
54 Ben Louis Dr Belleville, IL	2.0	1.0	900	$1,145	$1.27	24d	1	1.14mi

Listing history 10 events

1. 2026-06-07
   status $76,000 Pending 2 DOM
2. 2026-06-03
   days on market $76,000 Active 2 DOM
3. 2026-06-02
   statusdays on market $76,000 Active 1 DOM
4. 2026-06-01
   days on market $76,000 Coming Soon 5 DOM
5. 2026-05-31
   days on market $76,000 Coming Soon 4 DOM
6. 2026-05-27
   historical $76,000
7. 2011-05-24
   soldstatus $80,000
8. 2002-09-24
   soldstatus $67,500
9. 1990-08-30
   soldstatus $60,000
10. 1990-08-30
    soldstatus $60,000

ⓘ 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: $765 · $64/mo
• Projected year-2 tax: $1,245 · $104/mo
• Expected delta: +$480/yr (+$40/mo · 62.8%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low 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 4/10 Moderate 3 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $11,170
• − Mortgage interest: −$4,257
• − Property taxes: −$765
• − Insurance: −$380
• − Repairs & maintenance: −$894
• − Management: −$894
• − Depreciation: −$2,211
• Taxable income: $1,770
• Est. tax owed @ 24.0%: −$425
• After-tax cash flow: $2,472/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

• Census place: Belleville, IL
• County: Saint Clair County · 169,691 people
• City population: 47,407
• Metro: St. Louis, MO-IL
• Population (ZIP): 28,255
• Household income: $70,797
• Rent vs Own: 33.0% rent · 67.0% own
• Severe rent burden: 824.0

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 (64%)
• Race & ethnicity: White 64% Black 24% Two or more races 7% Hispanic / Latino 3% Asian 2%
• Common ancestry: Romanian 4% Lithuanian 2% Slovak 2%
• Foreign-born: 4% · Canada, China
• Languages at home: 96% English-only · Chinese 1% Spanish 1%

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: ▼ -83.57%
• Current HPI: 133.9028
• Rent YoY: ▲ 4.56%
• 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

+26.7% since first listed

5 events — show timeline

• 2026-05-27 Coming Soon $76,000 MARIS as Distributed by MLS Grid
• 2011-05-24 Sold (Public Records) $80,000 Public Records
• 2002-09-24 Sold (Public Records) $67,500 Public Records
• 1990-08-30 Sold (Public Records) $60,000 Public Records
• 1990-08-30 Sold (Public Records) $60,000 Public Records

Property tax history

-6.9%/yr

Latest (2021): $765 · -1.5% YoY. Source: county tax records.