3034 Glenwood Ave · Alton, IL 62002

$49,900

2 bd · 1.0 ba · 672 sqft · SingleFamily public records · 42 Days on market

Built 1945 3,998 sqft lot $74/sqft · 21% below area Est $63k · 21% under

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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
• 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

Cute, cozy, and move-in ready! This 2-bedroom, 1-bath home offers an enclosed porch and is ready for its next owners.

Key facts

• Enclosed porch
• 3,998 sq ft lot
• Built 1945

Tags

• ENCLOSED PORCH

Property features AI

Finance

• Other: Living area reported as 672 (public records); Lot dimensions approximately 40 x 100
• Financial info: No investor or income/expense details listed
• HOA & community: No HOA information listed

Exterior

• Parking: No parking details listed
• Security: No security details listed
• Utilities: Public water; Public sewer; Electric service by Ameren
• Home design: Single-family residence; One story; Residential property
• Construction: Vinyl siding; Built with a full basement
• Exterior features: Front porch; Level lot

Interior

• Kitchen: Kitchen on the main level
• Bedrooms: Two bedrooms on the main level (2 total)
• Flooring: No flooring details listed
• Bathrooms: One full bathroom on the main level (1 total)
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Full basement
• Laundry & utility: No specific laundry details listed

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $50k.

Deal economics

• At list price, monthly cash flow is $350 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($905 rent vs $50k).
• Recommended offer: $48k (3.0% below list) — sets the bar for market timing.
• Cap rate 14.7% 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-, crime F, amenities D-.
• 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.
• Zoned schools: Alton High School (math 20% / reading 25%, grade F, #317 of 693 statewide, top 46%, 1,990 students, 0% FRL) — zoned schools average 0% FRL vs 60% district-wide (60 pts lower); this property's tenant base skews higher-income than the district average.
• 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $345 of loan paydown is wiped out by about $1k 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 $14k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 42 days — a 3% lower offer ($48k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 2y ago; this cycle's ask has dropped $10k (17%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $12k; list at $50k implies a 299% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1945 — 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 $48,403 (3.0% below list)

Questions for the listing agent

1. It's been on market 42 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 1945 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 1.81% ✓
• Cap rate: 14.71%
• Cash-on-cash: 30.06%
• DSCR: 2.34
• GRM: 4.6

CMA / ARV

• ARV (median comp): $62,788
• List price: $49,900
• Delta: -20.53%
• 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
3006 Watalee St	0.08mi	2/1.0	720 (+7%)	7mo	$35,000	$49	79
606 Anderson St	0.29mi	2/1.0	660 (-2%)	11mo	$24,500	$37	75
2814 Grandview Ave	0.15mi	2/1.0	756 (+12%)	0mo	$69,900	$92	72
2931 Werges Ave	0.42mi	2/1.0	675 (+0%)	11mo	$29,900	$44	70
3311 Sherman St	0.41mi	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	0.41mi	2/1.0	726 (+8%)	1mo	$31,700	$44	66
3502 Oscar Ave	0.71mi	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
2614 Denny Ave	0.51mi	2/1.0	750 (+12%)	2mo	$85,000	$113	55
504 Goodfellow Ave	0.73mi	2/1.0	740 (+10%)	9mo	$58,000	$78	42
3708 Coronado Dr	0.75mi	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: 30.4%
• Equity multiple: 2.36×
• Total profit: $19,018
• Equity at exit: $7,440

10-year hold

• IRR: 40.4%
• Equity multiple: 5.81×
• Total profit: $67,145
• Equity at exit: $4,314

Cash invested: $13,972 (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 62002

• Home prices YoY: -33.6%
• Rents YoY: 8.2%
• Active inventory: 169
• Price-to-rent: 4.6×

Monthly cashflow live

• Estimated rent: $905 medium
• Mortgage (P&I): −$262
• Tax from tax record: −$83 /mo · $990/yr
• Insurance: −$21
• HOA: −$0
• Vacancy / Maint / Mgmt: −$190
• Net cashflow: $350

Break-even live

Break-even rent $462

Max offer price $49,900

Occupancy floor 56%

Sensitivity live

Price	-10% $378	-5% $364	+0% $350	+5% $336	+10% $322
Rent	-10% $279	-5% $314	+0% $350	+5% $386	+10% $422
Rate	-1.0pp $375	-0.5pp $363	base $350	+0.5pp $337	+1.0pp $324

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: $12,475
• Closing costs: $1,497
• 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	44d	1	0.21mi
806 Center St East Alton, IL	1.0	1.0	620	$675	$1.09	2d	1	1.47mi

Listing history 24 events

1. 2026-06-18
   days on market $49,900 Active 42 DOM
2. 2026-06-17
   days on market $49,900 Active 41 DOM
3. 2026-06-16
   days on market $49,900 Active 40 DOM
4. 2026-06-15
   days on market $49,900 Active 39 DOM
5. 2026-06-13
   pricedays on market $49,900 Active 37 DOM
6. 2026-06-09
   days on market $54,900 Active 33 DOM
7. 2026-06-08
   days on market $54,900 Active 32 DOM
8. 2026-06-07
   days on market $54,900 Active 31 DOM
9. 2026-06-03
   days on market $54,900 Active 27 DOM
10. 2026-06-02
    days on market $54,900 Active 26 DOM
11. 2026-06-01
    days on market $54,900 Active 25 DOM
12. 2026-05-31
    days on market $54,900 Active 24 DOM
13. 2026-05-07
    listed $59,900 Active 117-char remark
14. 2026-04-09
    listed $65,000 Active
15. 2026-01-30
    price $65,000
16. 2026-01-12
    listed $75,000 Active
17. 2026-01-10
    historical
18. 2024-03-05
    soldstatus Closed
19. 2024-02-25
    status Active
20. 2024-02-25
    price $21,500
21. 2024-02-13
    status Pending
22. 2024-02-06
    listed $22,000 Active
23. 2004-10-06
    soldstatus $12,500
24. 1999-09-21
    soldstatus $160,000

ⓘ 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: $990 · $83/mo
• Projected year-2 tax: $1,061 · $88/mo
• Expected delta: +$71/yr (+$6/mo · 7.2%)

ⓘ 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: −$2,795
• − Property taxes: −$990
• − Insurance: −$250
• − Repairs & maintenance: −$869
• − Management: −$869
• − Depreciation: −$1,452
• Taxable income: $3,637
• Est. tax owed @ 24.0%: −$873
• After-tax cash flow: $3,328/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

-68.8% since first listed

14 events — show timeline

• 2026-06-11 Price Changed $49,900 MARIS as Distributed by MLS Grid
• 2026-05-28 Price Changed $54,900 MARIS as Distributed by MLS Grid
• 2026-05-07 Listed $59,900 MARIS as Distributed by MLS Grid
• 2026-04-09 Listed $65,000 MARIS as Distributed by MLS Grid
• 2026-01-30 Price Changed $65,000 MARIS as Distributed by MLS Grid
• 2026-01-12 Listed $75,000 MARIS as Distributed by MLS Grid
• 2026-01-10 Coming Soon — MARIS as Distributed by MLS Grid
• 2024-03-05 Sold (MLS) — MARIS as Distributed by MLS Grid
• 2024-02-25 Relisted — MARIS as Distributed by MLS Grid
• 2024-02-25 Price Changed $21,500 MARIS as Distributed by MLS Grid
• 2024-02-13 Pending — MARIS as Distributed by MLS Grid
• 2024-02-06 Listed $22,000 MARIS as Distributed by MLS Grid
• 2004-10-06 Sold (Public Records) $12,500 Public Records
• 1999-09-21 Sold (Public Records) $160,000 Public Records

Property tax history

+3.9%/yr

Latest (2024): $990 · +6.4% YoY. Source: county tax records.