48 Gatewood Ct · Belleville, IL 62226

$124,900

2 bd · 2.0 ba · 896 sqft · SingleFamily public records · 19 Days on market

Built 1955 7,840 sqft lot Est $130k · at est.

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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 +13.6/30.0
• ARV discount +9.2/15.0
• DSCR +4.1/10.0
• Livability +3.9/5.0
• Rent growth +3.6/5.0
• 1% rule +3.2/10.0
• Condition / age +2.5/5.0
• Schools +2.2/10.0
• Appreciation +0.0/10.0

Listing remarks

Nestled on a dead-end street, this charming all-brick ranch home offers classic durability and incredible potential. The bright, inviting layout features two comfortable bedrooms and an attached one-car garage for convenient parking and storage. Downstairs, a functional basement provides a versatile blank canvas perfect for a home gym, workshop, or recreation room. Step outside to an expansive, open backyard with massive potential for gardening, entertaining, or simple relaxation. Combining privacy, structural integrity, and room to grow, this solid brick property is a rare find ready for its next owner.

Key facts

• Open backyard
• Functional basement
• 7,840 sq ft lot

Tags

• ATTACHED ONE-CAR GARAGE
• FUNCTIONAL BASEMENT
• OPEN BACKYARD

Property features AI

Exterior

• Parking: Attached garage (1 car) — approximately 21 x 11
• Utilities: Public water; Public sewer; 220 volt electric; Cable available; Electricity available; Natural gas connected; Phone available; Water available; Sewer connected
• Home design: Single-family residence; One-level
• Construction: Brick construction; Shingle roof
• Exterior features: Back yard

Interior

• Kitchen: Electric oven; Refrigerator
• Bedrooms: 2 bedrooms on the main level
• Bathrooms: 1 full bathroom (main level)
• Heating & cooling: Forced air heating (natural gas); Central air conditioning
• Interior features: Electric oven; Refrigerator; Unfinished basement
• Laundry & utility: Laundry located in the basement

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $125k.

Deal economics

• At list price, monthly cash flow is $7 ($89/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $102k (18.0% below list).
• Recommended offer: $102k (18.0% below list) — sets the bar for 1% rule.

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: Abraham Lincoln Elem School (math 9% / reading 14%, grade F, #1,457 of 2,056 statewide, top 71%, 512 students, 0% FRL); West Jr High School (math 11% / reading 22%, grade F, #482 of 665 statewide, top 73%, 422 students, 0% FRL); 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); 189 active listings in the ZIP; 20 comparable units currently listed for rent nearby; rentals at typical pace (median 24d 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 17% 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 $864 of loan paydown is wiped out by about $4k 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.

Negotiation context

• It's been on market 19 days — a 2% lower offer ($123k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1955 — 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 $102,461 (18.0% below list)

Questions for the listing agent

1. Built in 1955 — 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. 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?
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: 0.82% ✗
• Cap rate: 6.36%
• Cash-on-cash: 0.25%
• DSCR: 1.01
• GRM: 10.2

CMA / ARV

• ARV (on-the-fly): $129,920
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
8 S 51st St	0.22mi	2/1.0	940 (+5%)	6mo	$110,000	$117	73
4619 Ruth St	0.22mi	2/1.0	952 (+6%)	6mo	$130,000	$137	70
309 Southgate Dr	0.44mi	2/1.0	872 (-3%)	20mo	$155,000	$178	55
6100 N Belt W	0.48mi	3/1.0 (+1)	974 (+9%)	2mo	$169,900	$174	52
905 Brentmoor Dr	0.66mi	2/1.0	900 (+0%)	18mo	$154,900	$172	50
128 Freedom Dr	0.69mi	3/1.0 (+1)	968 (+8%)	0mo	$75,000	$77	45
110 Elizabeth Dr	0.63mi	2/1.0	944 (+5%)	16mo	$147,500	$156	44
120 N 46th St	0.66mi	2/1.0	1,028 (+15%)	0mo	$40,000	$39	40
222 N 46th St	0.64mi	1/1.0 (-1)	990 (+10%)	6mo	$49,900	$50	39
124 Chevy Chase Dr	0.68mi	2/1.0	988 (+10%)	14mo	$160,000	$162	36
105 Barrington Dr	0.62mi	2/1.0	1,008 (+12%)	19mo	$135,000	$134	30
1005 Brentmoor Dr	0.72mi	3/1.0 (+1)	1,001 (+12%)	13mo	$145,000	$145	27

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: -14.3%
• Equity multiple: 0.48×
• Total profit: $-18,157
• Equity at exit: $18,623

10-year hold

• IRR: -3.4%
• Equity multiple: 0.76×
• Total profit: $-8,375
• Equity at exit: $10,799

Cash invested: $34,972 (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 62226

• Rents YoY: 4.6%
• Active inventory: 189
• Price-to-rent: 10.2×

Monthly cashflow live

• Estimated rent: $1,025 high
• Mortgage (P&I): −$655
• Tax from tax record: −$95 /mo · $1,140/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$215
• Net cashflow: $7

Break-even live

Break-even rent $1,015

Max offer price $124,900

Occupancy floor 94%

Sensitivity live

Price	-10% $78	-5% $43	+0% $7	+5% $-28	+10% $-63
Rent	-10% $-74	-5% $-33	+0% $7	+5% $48	+10% $88
Rate	-1.0pp $70	-0.5pp $39	base $7	+0.5pp $-25	+1.0pp $-58

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: $31,225
• Closing costs: $3,747
• Reserves months: —
• Total cash needed: —

Rent comps 20 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
219 Freedom Dr Unit 238-I Belleville, IL	2.0	1.0	936	$895	$0.96	0d	1	0.42mi
219 Freedom Dr Unit 232-Q Belleville, IL	2.0	1.0	936	$895	$0.96	19d	1	0.42mi
219 Freedom Dr Unit 236-M Belleville, IL	1.0	1.0	612	$730	$1.19	4d	1	0.42mi
219 Freedom Dr Unit 219-U Belleville, IL	1.0	1.0	612	$730	$1.19	25d	1	0.42mi
219 Freedom Dr Unit 228-G Belleville, IL	2.0	1.0	936	$895	$0.96	6d	1	0.42mi
219 Freedom Dr Unit C-05 Belleville, IL	1.0	1.0	612	$795	$1.30	4d	1	0.42mi
219 Freedom Dr Unit G-10 Belleville, IL	1.0	1.0	612	$795	$1.30	25d	1	0.42mi
219 Freedom Dr Unit 232-B Belleville, IL	2.0	1.0	936	$895	$0.96	25d	1	0.42mi
219 Freedom Dr Unit 228-P Belleville, IL	2.0	1.0	936	$970	$1.04	25d	1	0.42mi
6105 W Washington St Belleville, IL	3.0	1.5	1120	$1,575	$1.41	25d	1	0.46mi
4516 W Main St Belleville, IL	2.0	1.0	607	$850	$1.40	25d	1	0.61mi
56 Friendly Dr Belleville, IL	2.0	1.0	1000	$1,550	$1.55	25d	1	0.61mi
18 S 44th St Belleville, IL	1.0	1.0	550	$700	$1.27	16d	1	0.78mi
18 S 44th St Belleville, IL	1.0	1.0	550	$700	$1.27	5d	1	0.78mi
5784 Brett Michael Ln Belleville, IL	1.0–2.0	1.0–2.0	801	$1,195	$1.49	0d	5	1.00mi
7235 Westfield Plaza Dr Belleville, IL	1.0–2.0	1.0	795	$975	$1.23	4d	1	1.04mi
654 N 39th St Belleville, IL	3.0	1.0	984	$1,400	$1.42	19d	1	1.12mi
109 N 74th St Belleville, IL	1.0	1.0	600	$972	$1.62	23d	1	1.23mi
1000 Royal Heights Rd Belleville, IL	2.0	1.5	1100	$1,345	$1.22	25d	1	1.33mi
213 Columbus Dr Belleville, IL	3.0	1.0	1040	$1,650	$1.59	25d	1	1.37mi

Listing history 8 events

1. 2026-06-09
   days on market $124,900 Active 19 DOM
2. 2026-06-08
   days on market $124,900 Active 18 DOM
3. 2026-06-07
   days on market $124,900 Active 17 DOM
4. 2026-06-03
   days on market $124,900 Active 13 DOM
5. 2026-06-02
   days on market $124,900 Active 12 DOM
6. 2026-06-01
   days on market $124,900 Active 11 DOM
7. 2026-05-31
   days on market $124,900 Active 10 DOM
8. 2026-05-21
   listed $124,900 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: $1,140 · $95/mo
• Projected year-2 tax: $1,988 · $166/mo
• Expected delta: +$848/yr (+$71/mo · 74.3%)

ⓘ 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 ≥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: $12,295
• − Mortgage interest: −$6,996
• − Property taxes: −$1,140
• − Insurance: −$624
• − Repairs & maintenance: −$984
• − Management: −$984
• − Depreciation: −$3,633
• Taxable loss: −$2,066
• Est. tax savings @ 24.0%: +$496
• After-tax cash flow: $585/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

1 event — show timeline

• 2026-05-21 Listed $124,900 MARIS as Distributed by MLS Grid

Property tax history

-1.4%/yr

Latest (2024): $1,140 · -6.3% YoY. Source: county tax records.