3212 Alby St · Alton, IL 62002

$15,000

2 bd · 1.0 ba · 1,472 sqft · SingleFamily public records · 59 Days on market

Built 1891 7,514 sqft lot $10/sqft · 87% below area

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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).

• Cash flow +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• 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

Investor Opportunity – Full Renovation Project with Strong Upside. Endless potential awaits for the right buyer ready to bring vision, resources, and expertise. This property is in need of a complete renovation and is best suited for investors, rehabbers, or experienced buyers looking for their next project. The home offers a solid footprint and lot, providing a great starting point to reimagine and add value. With the right plan, this could be a rewarding investment opportunity. Important Notes: Property is being sold as-is. Seller will make no repairs and will not provide occupancy. Interior conditions are unknown. Hold harmless agreement must be signed prior to entry. This is not a cosmetic project—come prepared with a vision and a plan. A rare opportunity for those ready to take on a full rehab and unlock the potential. If you're ready to roll up your sleeves and transform a property into something special, this could be the one.

Key facts

• 7,514 sq ft lot
• Built 1891
• Listed 59 days

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $15k.

Deal economics

• At list price, monthly cash flow is $679 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $15k).
• Recommended offer: $15k (3.0% below list) — sets the bar for market timing.
• Cap rate 60.6% 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; 3 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 $104 of loan paydown is wiped out by about $450 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 $4k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 59 days — a 3% lower offer ($15k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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.

Risks & watch-outs

• Watch-outs: property tax is 4.5% of price; built in 1891 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $14,550 (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 1891 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 6.92% ✓
• Cap rate: 60.60%
• Cash-on-cash: 193.94%
• DSCR: 9.63
• GRM: 1.2

CMA / ARV

• ARV (median comp): $115,707
• List price: $15,000
• Delta: -87.04%
• 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
36 Marietta Pl	0.06mi	2/1.5	1,423 (-3%)	12mo	$184,900	$130	79
209 Brentwood Blvd	0.19mi	2/1.0	1,362 (-8%)	4mo	$50,000	$37	76
2318 Birch	0.09mi	3/3.0 (+1)	1,385 (-6%)	3mo	$110,000	$79	71
2712 Gerson Ave	0.46mi	3/1.0 (+1)	1,512 (+3%)	3mo	$159,900	$106	67
239 W Elm St	0.56mi	2/2.0	1,428 (-3%)	1mo	$159,000	$111	64
7 Hickerson Pl	0.42mi	3/2.5 (+1)	1,454 (-1%)	8mo	$130,000	$89	61
3 E Elm St	0.25mi	2/1.5	1,672 (+14%)	6mo	$125,000	$75	58
3120 Hawthorne Blvd	0.38mi	3/1.5 (+1)	1,372 (-7%)	10mo	$140,000	$102	56
203 W Elm St	0.41mi	3/2.5 (+1)	1,445 (-2%)	16mo	$160,000	$111	53
401 Mildred St	0.73mi	3/2.0 (+1)	1,363 (-7%)	4mo	$145,000	$106	41
2825 Gerson Ave	0.62mi	3/2.0 (+1)	1,365 (-7%)	10mo	$30,000	$22	41
238 W Delmar Ave	0.59mi	3/2.0 (+1)	1,692 (+15%)	13mo	$198,900	$118	28

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: —
• Equity multiple: 12.03×
• Total profit: $46,328
• Equity at exit: $2,237

10-year hold

• IRR: —
• Equity multiple: 29.84×
• Total profit: $121,147
• Equity at exit: $1,297

Cash invested: $4,200 (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: 1.2×

Monthly cashflow live

• Estimated rent: $1,038 medium
• Mortgage (P&I): −$79
• Tax from tax record: −$57 /mo · $680/yr
• Insurance: −$6
• HOA: −$0
• Vacancy / Maint / Mgmt: −$218
• Net cashflow: $679

Break-even live

Break-even rent $179

Max offer price $15,000

Occupancy floor 30%

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: $3,750
• Closing costs: $450
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3108 Alby St Alton, IL	2.0	1.0	900	$1,000	$1.11	43d	1	0.03mi
2016 Salu St Alton, IL	3.0	1.0	1073	$1,100	$1.03	16d	1	1.26mi
1106 George St Unit 1106 Alton, IL	3.0	1.5	1750	$1,196	$0.68	3d	1	1.33mi

Listing history 14 events

1. 2026-06-18
   days on market $15,000 Active 59 DOM
2. 2026-06-17
   days on market $15,000 Active 58 DOM
3. 2026-06-16
   days on market $15,000 Active 57 DOM
4. 2026-06-15
   days on market $15,000 Active 56 DOM
5. 2026-06-13
   days on market $15,000 Active 54 DOM
6. 2026-06-09
   days on market $15,000 Active 50 DOM
7. 2026-06-08
   days on market $15,000 Active 49 DOM
8. 2026-06-07
   days on market $15,000 Active 48 DOM
9. 2026-06-03
   days on market $15,000 Active 44 DOM
10. 2026-06-02
    days on market $15,000 Active 43 DOM
11. 2026-06-01
    days on market $15,000 Active 42 DOM
12. 2026-05-31
    days on market $15,000 Active 41 DOM
13. 2026-04-20
    listed $15,000 Active 965-char remark

    Show marketing remark (965 chars)

    Investor Opportunity – Full Renovation Project with Strong Upside. Endless potential awaits for the right buyer ready to bring vision, resources, and expertise. This property is in need of a complete renovation and is best suited for investors, rehabbers, or experienced buyers looking for their next project. The home offers a solid footprint and lot, providing a great starting point to reimagine and add value. With the right plan, this could be a rewarding investment opportunity. Important Notes: Property is being sold as-is. Seller will make no repairs and will not provide occupancy. Interior conditions are unknown. Hold harmless agreement must be signed prior to entry. This is not a cosmetic project—come prepared with a vision and a plan. A rare opportunity for those ready to take on a full rehab and unlock the potential. If you're ready to roll up your sleeves and transform a property into something special, this could be the one.

14. 2025-08-07
    listed $12,500 Active

ⓘ 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: $680 · $57/mo
• Projected year-2 tax: $680 · $57/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 4/10 Moderate 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: $12,461
• − Mortgage interest: −$840
• − Property taxes: −$680
• − Insurance: −$75
• − Repairs & maintenance: −$997
• − Management: −$997
• − Depreciation: −$436
• Taxable income: $8,436
• Est. tax owed @ 24.0%: −$2,025
• After-tax cash flow: $6,121/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

+20.0% since first listed

2 events — show timeline

• 2026-04-20 Listed $15,000 MARIS as Distributed by MLS Grid
• 2025-08-07 Listed $12,500 MARIS as Distributed by MLS Grid

Property tax history

+9.2%/yr

Latest (2023): $680 · +15.9% YoY. Source: county tax records.