2428 Sunbury Ave · Granite City, IL 62040

$74,900

3 bd · 1.0 ba · 864 sqft · SingleFamily public records · 28 Days on market

Built 1960 7,440 sqft lot $87/sqft · 33% below area Est $111k · 33% under ↓ 15% since listing

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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
• Livability +3.2/5.0
• Rent growth +2.9/5.0
• Condition / age +2.5/5.0
• Schools +0.9/10.0
• Appreciation +0.0/10.0

Listing remarks

Opportunity is knocking at 2428 Sunbury in Granite City! This 3-bedroom, 1-bath home is full of potential and priced with upside in mind—estimated ARV of $130K+. Whether you're an investor or a buyer looking to build equity, this property offers a strong foundation to bring your vision to life. Situated on a well-kept street, the home features a large fenced-in backyard—perfect for pets, entertaining, or future enhancements. Inside, you'll find an eat-in kitchen, a spacious laundry room, and a layout that’s open to customization and modern updates. The property has already been professionally cleaned following tenant move-out, giving you a fresh start from day one. Major i

Key facts

• 7,440 sq ft lot
• Built 1960
• Listed 28 days

Property features AI

Finance

• Other: Ownership listed as owner by contract; Lot about 0.17 acres (approx. 62 x 120)
• Financial info: Lease not considered

Exterior

• Parking: Concrete driveway and off-street parking
• Utilities: Public water; Public sewer; Electricity connected (220 volts)
• Home design: Single-family residence (attached); One story; Property listed as fixer
• Construction: Vinyl siding; Architectural shingle roof; Combination foundation; Built area reported as 864 (above grade)
• Exterior features: Covered front porch; Back yard with some trees; Chain link fencing

Interior

• Kitchen: No kitchen appliances specified
• Bedrooms: Three bedrooms, all on the main level
• Flooring: Carpet; Wood
• Bathrooms: One full bathroom on the main level
• Heating & cooling: Forced air heating; Central air conditioning; Ceiling fans
• Interior features: Carpet and wood flooring; No built-in appliances listed
• Laundry & utility: No laundry appliances specified

🏷️ Possibly a rental listed for sale. The $74,900 price doesn't fit this home's estimated sale value (~$110,995) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $75k.

Deal economics

• At list price, monthly cash flow is $467 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $75k).
• Recommended offer: $74k (1.5% below list) — sets the bar for market timing.
• Cap rate 13.8% vs local median 7.0% in Granite City — 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 65/100 on livability (#623 in IL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: crime F, amenities F, commute F.
• Granite City CUSD 9 (suburban): math 9% / reading 11% proficiency, ranked #570 of 620 in IL (top 92%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Granite City High School (math 10% / reading 12%, grade F, #522 of 693 statewide, top 76%, 1,805 students, 0% FRL) — zoned schools average 0% FRL vs 59% district-wide (59 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: Rents rising (+1.7%/yr); 194 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $518 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 + 1.7% rent growth), your $21k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 28 days — a 2% lower offer ($74k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• 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 $73,776 (1.5% below list)

Questions for the listing agent

1. Built in 1960 — 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. 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?
4. 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?
5. 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.
6. 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.
7. 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: 1.73% ✓
• Cap rate: 13.77%
• Cash-on-cash: 26.70%
• DSCR: 2.19
• GRM: 4.8

CMA / ARV

• ARV (median comp): $110,995
• List price: $74,900
• Delta: -32.52%
• 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
2428 Sunbury Ave	0.00mi	3/1.0	864 (0%)	1mo	$74,900	$87	99
2912 Ash Ave	0.21mi	3/1.0	912 (+6%)	7mo	$115,000	$126	75
10 Watertown Cir	0.29mi	3/1.0	928 (+7%)	0mo	$109,000	$117	74
1917 Joy Ave	0.63mi	3/1.0	875 (+1%)	1mo	$118,900	$136	67
2824 Birch Ave	0.38mi	3/1.0	944 (+9%)	0mo	$105,000	$111	67
2829 Dale Ave	0.45mi	3/1.0	944 (+9%)	2mo	$129,900	$138	62
1904 Joy Ave	0.66mi	2/1.0 (-1)	875 (+1%)	0mo	$79,900	$91	62
2004 Elm Ave	0.54mi	3/1.0	944 (+9%)	2mo	$124,900	$132	58
2729 Dale Ave	0.51mi	3/1.0	944 (+9%)	5mo	$135,000	$143	57
3017 Ramona Dr	0.64mi	2/1.0 (-1)	780 (-10%)	3mo	$150,000	$192	46
3140 Aubrey Ave	0.75mi	2/1.0 (-1)	792 (-8%)	5mo	$59,900	$76	42
2822 Sunset Dr	0.53mi	2/1.0 (-1)	988 (+14%)	6mo	$80,000	$81	41

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 · 1.67% rent growth · sell at horizon

5-year hold

• IRR: 19.0%
• Equity multiple: 1.76×
• Total profit: $15,909
• Equity at exit: $11,168

10-year hold

• IRR: 26.4%
• Equity multiple: 3.17×
• Total profit: $45,452
• Equity at exit: $6,476

Cash invested: $20,972 (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 62040

• Home prices YoY: -21.8%
• Rents YoY: 1.7%
• Active inventory: 194
• Price-to-rent: 4.8×

Monthly cashflow live

• Estimated rent: $1,297 medium
• Mortgage (P&I): −$393
• Tax from tax record: −$134 /mo · $1,611/yr
• Insurance: −$31
• HOA: −$0
• Vacancy / Maint / Mgmt: −$272
• Net cashflow: $467

Break-even live

Break-even rent $707

Max offer price $74,900

Occupancy floor 59%

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: $18,725
• Closing costs: $2,247
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4404 Wabash Ave Granite City, IL	2.0	1.0	864	$1,025	$1.19	3d	1	1.44mi
2415 Jerden Ave Granite City, IL	3.0	1.0	970	$1,400	$1.44	4d	1	1.49mi

Listing history 4 events

1. 2026-05-19
   historical Active Under Contract 896-char remark
2. 2026-05-15
   price $74,900 896-char remark
3. 2026-05-08
   price $79,900 896-char remark
4. 2026-04-28
   listed $85,000 Active 896-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: $1,611 · $134/mo
• Projected year-2 tax: $1,656 · $138/mo
• Expected delta: +$44/yr (+$4/mo · 2.8%)

ⓘ 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 6/10 Major 7 d/yr ≥108°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 4 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,567
• − Mortgage interest: −$4,196
• − Property taxes: −$1,611
• − Insurance: −$374
• − Repairs & maintenance: −$1,245
• − Management: −$1,245
• − Depreciation: −$2,179
• Taxable income: $4,716
• Est. tax owed @ 24.0%: −$1,132
• After-tax cash flow: $4,467/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: Granite City CUSD 9
• NCES district ID: 1717280
• Math proficiency: 9% ▼ -4.00%
• Reading proficiency: 11% ▼ -7.00%
• Median HH income: $45,082
• Composite: 9.15/100
• National rank: #9864
• State rank: #570 of 620 in IL

Livability — Granite City

• Score: 65/100
• State rank: #623
• US rank: #12751

Category grades

Amenities F Commute F Cost of living A+ Crime F Employment C Housing A+ Health & safety C User ratings B+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Granite City, IL
• County: Madison County · 189,064 people
• City population: 40,404
• Metro: St. Louis, MO-IL
• Population (ZIP): 40,404
• Household income: $60,031
• Rent vs Own: 25.0% rent · 75.0% own
• Severe rent burden: 923.0

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 (76%)
• Race & ethnicity: White 76% Hispanic / Latino 9% Black 9% Two or more races 7% Asian 1%
• Hispanic origin (detail): Mexican 7%
• Common ancestry: Romanian 2% Lithuanian 2% Serbian 2%
• Foreign-born: 3% · Canada, Vietnam
• Languages at home: 93% English-only · Spanish 5%

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: ▼ -56.88%
• Current HPI: 204.4612
• Rent YoY: ▲ 1.67%
• 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

-14.7% since first listed

7 events — show timeline

• 2026-06-08 Sold (Public Records) $72,500 Public Records
• 2026-06-01 Sold (MLS) — MARIS as Distributed by MLS Grid
• 2026-05-26 Pending — MARIS as Distributed by MLS Grid
• 2026-05-19 Contingent — MARIS as Distributed by MLS Grid
• 2026-05-15 Price Changed $74,900 MARIS as Distributed by MLS Grid
• 2026-05-08 Price Changed $79,900 MARIS as Distributed by MLS Grid
• 2026-04-28 Listed $85,000 MARIS as Distributed by MLS Grid

Property tax history

+3.8%/yr

Latest (2024): $1,611 · +5.3% YoY. Source: county tax records.