1000 Willard Ave · Alton, IL 62002

$62,900

2 bd · 1.0 ba · 672 sqft · SingleFamily public records · 87 Days on market

Built 1923 3,998 sqft lot $94/sqft · at area comps Est $65k · at est.

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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
• DSCR +10.0/10.0
• 1% rule +9.4/10.0
• ARV discount +8.9/15.0
• 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

2 bed, 1 bath tenant-occupied bungalow offering immediate rental income. Corner lot with a spacious side yard, side parking, updated kitchen, and full basement for added storage or expansion potential. Strong opportunity to add a stable asset to your portfolio.

Key facts

• 3,998 sq ft lot
• Built 1923
• Listed 87 days

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $63k.

Deal economics

• At list price, monthly cash flow is $257 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($905 rent vs $63k).
• Recommended offer: $59k (6.0% below list) — sets the bar for market timing.
• Cap rate 11.2% 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; 2 comparable units currently listed for rent nearby; 336 units permitted in Madison County in 2024 (0 in 5+ unit buildings).
• This rent is only 18% of the median local income ($61k/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 $435 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 $18k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 87 days — a 6% lower offer ($59k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 6y ago; this cycle's ask has dropped $7k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $6k; list at $63k implies a 868% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1923 — 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 $59,126 (6.0% below list)

Questions for the listing agent

1. It's been on market 87 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1923 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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. 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.
8. 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.
9. 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: 1.44% ✓
• Cap rate: 11.19%
• Cash-on-cash: 17.50%
• DSCR: 1.78
• GRM: 5.8

CMA / ARV

• ARV (median comp): $64,945
• List price: $62,900
• Delta: -3.15%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3006 Watalee St	0.08mi	2/1.0	720 (+7%)	7mo	$35,000	$49	78
606 Anderson St	0.29mi	2/1.0	660 (-2%)	11mo	$24,500	$37	74
2814 Grandview Ave	0.15mi	2/1.0	756 (+12%)	0mo	$69,900	$92	72
3311 Sherman St	0.40mi	2/1.0	710 (+6%)	2mo	$75,000	$106	70
3409 Badley St	0.50mi	2/1.0	672 (0%)	10mo	$92,000	$137	68
510 Marsh Ave	0.42mi	2/1.0	726 (+8%)	1mo	$31,700	$44	66
3502 Oscar Ave	0.70mi	2/1.0	672 (0%)	2mo	$105,000	$156	65
3404 Oak Dr	0.51mi	2/1.0	728 (+8%)	0mo	$122,900	$169	62
3531 Franor St	0.49mi	2/1.0	620 (-8%)	11mo	$65,000	$105	55
2614 Denny Ave	0.51mi	2/1.0	750 (+12%)	2mo	$85,000	$113	55
504 Goodfellow Ave	0.72mi	2/1.0	740 (+10%)	9mo	$58,000	$78	42
3708 Coronado Dr	0.74mi	2/1.0	755 (+12%)	6mo	$110,000	$146	40

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: 14.6%
• Equity multiple: 1.62×
• Total profit: $10,975
• Equity at exit: $9,379

10-year hold

• IRR: 27.0%
• Equity multiple: 3.98×
• Total profit: $52,503
• Equity at exit: $5,438

Cash invested: $17,612 (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: 5.8×

Monthly cashflow live

• Estimated rent: $905 medium
• Mortgage (P&I): −$330
• Tax from tax record: −$102 /mo · $1,226/yr
• Insurance: −$26
• HOA: −$0
• Vacancy / Maint / Mgmt: −$190
• Net cashflow: $257

Break-even live

Break-even rent $580

Max offer price $62,900

Occupancy floor 67%

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: $15,725
• Closing costs: $1,887
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1408 Willard St Alton, IL	1.0	1.0	568	$750	$1.32	43d	1	0.21mi
806 Center St East Alton, IL	1.0	1.0	620	$675	$1.09	1d	1	1.47mi

Listing history 22 events

1. 2026-06-18
   days on market $62,900 Active 87 DOM
2. 2026-06-17
   days on market $62,900 Active 86 DOM
3. 2026-06-16
   days on market $62,900 Active 85 DOM
4. 2026-06-15
   days on market $62,900 Active 84 DOM
5. 2026-06-13
   days on market $62,900 Active 82 DOM
6. 2026-06-09
   days on market $62,900 Active 78 DOM
7. 2026-06-08
   days on market $62,900 Active 77 DOM
8. 2026-06-07
   days on market $62,900 Active 76 DOM
9. 2026-06-03
   days on market $62,900 Active 72 DOM
10. 2026-06-02
    days on market $62,900 Active 71 DOM
11. 2026-06-01
    days on market $62,900 Active 70 DOM
12. 2026-05-31
    days on market $62,900 Active 69 DOM
13. 2026-05-01
    price $67,900 261-char remark

    Show marketing remark (261 chars)

    2 bed, 1 bath tenant-occupied bungalow offering immediate rental income. Corner lot with a spacious side yard, side parking, updated kitchen, and full basement for added storage or expansion potential. Strong opportunity to add a stable asset to your portfolio.

14. 2026-03-23
    listed $69,900 Active 261-char remark

    Show marketing remark (261 chars)

    2 bed, 1 bath tenant-occupied bungalow offering immediate rental income. Corner lot with a spacious side yard, side parking, updated kitchen, and full basement for added storage or expansion potential. Strong opportunity to add a stable asset to your portfolio.

15. 2026-03-21
    historical $69,900 261-char remark

    Show marketing remark (261 chars)

    2 bed, 1 bath tenant-occupied bungalow offering immediate rental income. Corner lot with a spacious side yard, side parking, updated kitchen, and full basement for added storage or expansion potential. Strong opportunity to add a stable asset to your portfolio.

16. 2020-05-13
    soldstatus $6,500 410-char remark

    Show marketing remark (410 chars)

    Great Potential In This Little Bungalow! Corner Lot with Large Side Yard. Parking On Side. Enter Into Living Room, 2 Nice Sized Bedrooms and Kitchen. Full Basement that Walks Out. This is a Freddie Mac Property. Seller will not complete any repairs to the subject property, either lender or buyer requested. The property is sold in AS IS condition. No Investor Offers Will Be Considered Until March 17th, 2020.

17. 2020-05-13
    soldstatus Closed

    Show marketing remark (410 chars)

    Great Potential In This Little Bungalow! Corner Lot with Large Side Yard. Parking On Side. Enter Into Living Room, 2 Nice Sized Bedrooms and Kitchen. Full Basement that Walks Out. This is a Freddie Mac Property. Seller will not complete any repairs to the subject property, either lender or buyer requested. The property is sold in AS IS condition. No Investor Offers Will Be Considered Until March 17th, 2020.

18. 2020-04-10
    status Pending
19. 2020-04-03
    price $8,900
20. 2020-02-26
    listed $10,900 Active
21. 2020-02-25
    listed $8,900 410-char remark

    Show marketing remark (410 chars)

    Great Potential In This Little Bungalow! Corner Lot with Large Side Yard. Parking On Side. Enter Into Living Room, 2 Nice Sized Bedrooms and Kitchen. Full Basement that Walks Out. This is a Freddie Mac Property. Seller will not complete any repairs to the subject property, either lender or buyer requested. The property is sold in AS IS condition. No Investor Offers Will Be Considered Until March 17th, 2020.

22. 1994-03-28
    soldstatus $17,000

ⓘ 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: $1,226 · $102/mo
• Projected year-2 tax: $1,327 · $111/mo
• Expected delta: +$101/yr (+$8/mo · 8.2%)

ⓘ 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: $10,861
• − Mortgage interest: −$3,523
• − Property taxes: −$1,226
• − Insurance: −$314
• − Repairs & maintenance: −$869
• − Management: −$869
• − Depreciation: −$1,830
• Taxable income: $2,230
• Est. tax owed @ 24.0%: −$535
• After-tax cash flow: $2,547/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

+299.4% since first listed

10 events — show timeline

• 2026-05-01 Price Changed $67,900 MARIS as Distributed by MLS Grid
• 2026-03-23 Listed $69,900 MARIS as Distributed by MLS Grid
• 2026-03-21 Coming Soon $69,900 MARIS as Distributed by MLS Grid
• 2020-05-13 Sold (MLS) $6,500 MRED as Distributed by MLS Grid
• 2020-05-13 Sold (MLS) — MARIS as Distributed by MLS Grid
• 2020-04-10 Pending — MARIS as Distributed by MLS Grid
• 2020-04-03 Price Changed $8,900 MARIS as Distributed by MLS Grid
• 2020-02-26 Listed $10,900 MARIS as Distributed by MLS Grid
• 2020-02-25 Listed $8,900 MRED as Distributed by MLS Grid
• 1994-03-28 Sold (Public Records) $17,000 Public Records

Property tax history

+10.0%/yr

Latest (2024): $1,226 · +6.4% YoY. Source: county tax records.