261 Victory Dr · East Alton, IL 62024

$49,900

2 bd · 1.0 ba · 768 sqft · SingleFamily public records · 59 Days on market

Built 1945 0.34 ac lot Est $82k · 39% under ↓ 14% 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 +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.6/10.0
• Appreciation +0.0/10.0

Listing remarks

2-bedroom, 1-bath home with a spacious extra lot offering plenty of room for expansion, gardening, or outdoor activities. The property needs some TLC, making it a great opportunity for buyers looking to downsize and customize their next home—or for investors seeking their next project. Solid bones, flexible layout, and tons of potential Being sold as-is seller to make no repairs nor provide occupancy (parcel ID# 19-2-08-21-05-104-014 included) Tenant Occupied- 24 Hour Notice Required

Key facts

• 0.34 acre lot
• Built 1945
• Listed 58 days

Property features AI

Finance

• Other: Living area reported as 768 (source: public records); Lot size about 0.3361 acres
• Financial info: Lease not considered
• HOA & community: No HOA details provided

Exterior

• Parking: No parking details provided
• Security: No security details provided
• Utilities: Public water; Public sewer; Electricity connected
• Home design: Single-family residence; One story; Residential property
• Construction: Vinyl siding; Unfinished basement; Basement present; Built details not provided
• Exterior features: Level lot

Interior

• Kitchen: No kitchen appliance details provided
• Bedrooms: 2 bedrooms on the main level
• Flooring: No flooring details provided
• Bathrooms: 1 full bath on the main level
• Heating & cooling: Forced air heating; Central air conditioning; Ceiling fan(s)
• Interior features: Fireplace (1)
• Laundry & utility: No laundry or utility appliance details provided

🏷️ Possibly a rental listed for sale. The $49,900 price doesn't fit this home's estimated sale value (~$82,176) and the remarks read like a rental — treat the cards below with caution.

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 $425 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $50k).
• Recommended offer: $48k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 69/100 on livability (#418 in IL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: commute D+, crime D, amenities F.
• East Alton-Wood River Chsd 14 (suburban): math 10% / reading 20% proficiency, ranked #793 of 919 in IL (top 86%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: East Alton-Wood River High Sch (math 8% / reading 12%, grade F, #567 of 693 statewide, top 83%, 537 students, 0% FRL).
• Market conditions: 38 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals leasing fast (median 5d on market — plan ~1-2 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 $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 + 3.0% 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 59 days — a 3% lower offer ($48k) is reasonable based on typical stale-listing flexibility.

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 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 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 D 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: 2.05% ✓
• Cap rate: 16.51%
• Cash-on-cash: 36.50%
• DSCR: 2.62
• GRM: 4.1

CMA / ARV

• ARV (on-the-fly): $82,176
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
100 Bonds Ave	0.18mi	2/1.0	768 (0%)	11mo	$79,000	$103	82
109 S Shamrock St	0.27mi	2/1.0	820 (+7%)	4mo	$55,000	$67	73
111 Irwin St	0.24mi	2/1.0	816 (+6%)	8mo	$109,900	$135	72
144 Victory Dr	0.13mi	2/1.0	696 (-9%)	12mo	$44,900	$65	68
104 Irwin St	0.16mi	2/1.0	864 (+12%)	8mo	$92,500	$107	65
835 Rice St	0.68mi	2/1.0	748 (-3%)	4mo	$52,000	$70	60
108 Charlene St	0.27mi	3/1.0 (+1)	864 (+12%)	2mo	$94,900	$110	60
116 Charlene St	0.29mi	2/1.0	864 (+12%)	11mo	$95,000	$110	57
405 Niagara St	0.55mi	2/1.0	700 (-9%)	4mo	$59,000	$84	56
833 State St	0.62mi	2/1.0	720 (-6%)	6mo	$107,000	$149	56
148 Park Ave	0.60mi	2/1.0	728 (-5%)	10mo	$121,400	$167	55
223 Kingshighway	0.37mi	2/1.0	660 (-14%)	12mo	$50,000	$76	49

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 32.3%
• Equity multiple: 2.36×
• Total profit: $19,017
• Equity at exit: $7,440

10-year hold

• IRR: 39.4%
• Equity multiple: 4.69×
• Total profit: $51,565
• 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 62024

• Home prices YoY: -18.8%
• Active inventory: 38
• Price-to-rent: 4.1×

Monthly cashflow live

• Estimated rent: $1,020 high
• Mortgage (P&I): −$262
• Tax from tax record: −$99 /mo · $1,185/yr
• Insurance: −$21
• HOA: −$0
• Vacancy / Maint / Mgmt: −$214
• Net cashflow: $425

Break-even live

Break-even rent $483

Max offer price $49,900

Occupancy floor 53%

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 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
176 S Pence St East Alton, IL	2.0	1.0	1000	$1,100	$1.10	2d	1	0.28mi
123 Irwin St East Alton, IL	2.0	1.0	792	$1,225	$1.55	4d	1	0.31mi
806 Center St East Alton, IL	1.0	1.0	620	$675	$1.09	2d	1	0.59mi
140 Illinois St East Alton, IL	2.0	1.0	960	$695	$0.72	2d	1	0.79mi
120 Lakeside Ave East Alton, IL	2.0	1.0	700	$850	$1.21	11d	1	0.90mi
134 Lakeside Ave East Alton, IL	2.0	1.0	800	$775	$0.97	11d	1	0.91mi
121 Cardot St East Alton, IL	3.0	1.0	937	$1,200	$1.28	22d	1	1.12mi
226 E Lorena Ave Wood River, IL	1.0	1.0	615	$1,150	$1.87	2d	1	1.42mi
3400 Milton Dr Alton, IL	2.0	1.5	972	$1,350	$1.39	4d	1	1.48mi

Listing history 19 events

1. 2026-06-18
   days on market $49,900 Active 59 DOM
2. 2026-06-17
   days on market $49,900 Active 58 DOM
3. 2026-06-16
   days on market $49,900 Active 57 DOM
4. 2026-06-15
   days on market $49,900 Active 56 DOM
5. 2026-06-13
   days on market $49,900 Active 54 DOM
6. 2026-06-12
   days on market $49,900 Active 53 DOM
7. 2026-06-09
   days on market $49,900 Active 50 DOM
8. 2026-06-08
   days on market $49,900 Active 49 DOM
9. 2026-06-07
   days on market $49,900 Active 48 DOM
10. 2026-06-05
    days on market $49,900 Active 46 DOM
11. 2026-06-03
    days on market $49,900 Active 44 DOM
12. 2026-06-02
    days on market $49,900 Active 43 DOM
13. 2026-06-01
    days on market $49,900 Active 42 DOM
14. 2026-05-31
    days on market $49,900 Active 41 DOM
15. 2026-05-07
    price $49,900
16. 2026-04-21
    listed $58,900 Active
17. 2026-04-20
    historical $58,900
18. 2004-02-02
    soldstatus $58,000
19. 2004-02-02
    soldstatus $58,000

ⓘ 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: $1,185 · $99/mo
• Projected year-2 tax: $1,185 · $99/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 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: $12,246
• − Mortgage interest: −$2,795
• − Property taxes: −$1,185
• − Insurance: −$250
• − Repairs & maintenance: −$980
• − Management: −$980
• − Depreciation: −$1,452
• Taxable income: $4,605
• Est. tax owed @ 24.0%: −$1,105
• After-tax cash flow: $3,994/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: East Alton-Wood River Chsd 14
• NCES district ID: 1712990
• Math proficiency: 10% ▬ 0.00%
• Reading proficiency: 20% ▬ 0.00%
• Median HH income: $35,977
• Composite: 15.86/100
• National rank: #14315
• State rank: #793 of 919 in IL

Livability — East Alton

• Score: 69/100
• State rank: #418
• US rank: #8569

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: East Alton, IL
• City population: 9,465
• Population (ZIP): 9,465

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 (93%)
• Race & ethnicity: White 93% Two or more races 5% Hispanic / Latino 2% Black 1%
• Common ancestry: Lithuanian 4% Iranian 2% Italian 1%
• Foreign-born: 0%

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: ▼ -50.18%
• Current HPI: 216.1273
• Rent YoY: —
• Metro: —
• 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

-14.0% since first listed

5 events — show timeline

• 2026-05-07 Price Changed $49,900 MARIS as Distributed by MLS Grid
• 2026-04-21 Listed $58,900 MARIS as Distributed by MLS Grid
• 2026-04-20 Coming Soon $58,900 MARIS as Distributed by MLS Grid
• 2004-02-02 Sold (Public Records) $58,000 Public Records
• 2004-02-02 Sold (Public Records) $58,000 Public Records

Property tax history

+4.7%/yr

Latest (2024): $1,185 · +9.4% YoY. Source: county tax records.