326 Job · East Alton, IL 62024

$32,900

2 bd · 1.0 ba · 960 sqft · SingleFamily public records · 72 Days on market

Built 1915 9,600 sqft lot

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• 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 home located at the end of a dead-end street. Home features 2 bedrooms, living room, kitchen w/ pantry, enclosed back porch, HUGE lot, detached garage. Furnace new in 2021. Water Heater new in 2022. Electric Panel Box new in 2025. Home is not livable and is being sold AS-IS. Broker Owned.

Key facts

• 9,600 sq ft lot
• Garage
• Built 1915

Property features AI

Finance

• Financial info: Lease not considered

Exterior

• Parking: Detached 1-car garage; Off-street parking (1 total)
• Utilities: Public water; Public sewer; Ameren electric service
• Home design: Single-family residence; Attached property; One story
• Construction: Aluminum siding
• Exterior features: Adjoins open ground; Near public transit; Gravel road access

Interior

• Kitchen: Gas water heater
• Bedrooms: 2 bedrooms (both on main level)
• Bathrooms: 1 full bathroom (on main level)
• Heating & cooling: Natural gas heating with forced air; Central electric air conditioning
• Interior features: Eat-in kitchen; Partial basement
• Laundry & utility: Natural gas connected; Electricity connected; Water connected; Sewer connected

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $33k.

Deal economics

• At list price, monthly cash flow is $439 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($955 rent vs $33k).
• Recommended offer: $31k (6.0% 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 4d 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 $227 of loan paydown is wiped out by about $987 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 $9k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 72 days — a 6% lower offer ($31k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 3y ago; this cycle's ask has dropped $2k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $18k; list at $33k implies a 88% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 4.7% of price; built in 1915 — 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 $30,926 (6.0% below list)

Questions for the listing agent

1. It's been on market 72 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 1915 — 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
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: 2.90% ✓
• Cap rate: 22.31%
• Cash-on-cash: 57.20%
• DSCR: 3.55
• GRM: 2.9

CMA / ARV

• ARV (on-the-fly): $88,320
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
236 Church St	0.10mi	2/1.0	1,035 (+8%)	5mo	$99,900	$97	78
812 Cherry St	0.53mi	2/1.0	960 (0%)	2mo	$74,900	$78	74
176 S Pence St	0.36mi	2/1.0	996 (+4%)	4mo	$59,500	$60	73
99 Bonds Ave	0.45mi	3/1.0 (+1)	960 (0%)	4mo	$82,400	$86	70
645 Washington Ave	0.49mi	2/1.0	906 (-6%)	3mo	$62,500	$69	65
420 Bowman Ave	0.52mi	2/1.0	891 (-7%)	7mo	$24,000	$27	58
108 Charlene St	0.48mi	3/1.0 (+1)	864 (-10%)	2mo	$94,900	$110	54
109 S Shamrock St	0.40mi	2/1.0	820 (-15%)	4mo	$55,000	$67	54
104 Irwin St	0.53mi	2/1.0	864 (-10%)	8mo	$92,500	$107	52
523 Lincoln Ave	0.57mi	3/1.0 (+1)	1,092 (+14%)	0mo	$100,000	$92	45
404 Monroe St	0.49mi	2/2.0	1,086 (+13%)	7mo	$114,900	$106	45
111 Irwin St	0.55mi	2/1.0	816 (-15%)	8mo	$109,900	$135	43

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: 55.8%
• Equity multiple: 3.46×
• Total profit: $22,706
• Equity at exit: $4,905

10-year hold

• IRR: 60.8%
• Equity multiple: 7.09×
• Total profit: $56,065
• Equity at exit: $2,845

Cash invested: $9,212 (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: 2.9×

Monthly cashflow live

• Estimated rent: $955 high
• Mortgage (P&I): −$173
• Tax from tax record: −$129 /mo · $1,552/yr
• Insurance: −$14
• HOA: −$0
• Vacancy / Maint / Mgmt: −$201
• Net cashflow: $439

Break-even live

Break-even rent $399

Max offer price $32,900

Occupancy floor 49%

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: $8,225
• Closing costs: $987
• 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	1d	1	0.36mi
140 Illinois St East Alton, IL	2.0	1.0	960	$695	$0.72	1d	1	0.39mi
120 Lakeside Ave East Alton, IL	2.0	1.0	700	$850	$1.21	10d	1	0.51mi
134 Lakeside Ave East Alton, IL	2.0	1.0	800	$775	$0.97	10d	1	0.51mi
806 Center St East Alton, IL	1.0	1.0	620	$675	$1.09	1d	1	0.53mi
123 Irwin St East Alton, IL	2.0	1.0	792	$1,225	$1.55	3d	1	0.58mi
121 Cardot St East Alton, IL	3.0	1.0	937	$1,200	$1.28	21d	1	0.71mi
3400 Milton Dr Alton, IL	2.0	1.5	972	$1,350	$1.39	3d	1	1.11mi
3305 Franor St Alton, IL	2.0	1.0	1000	$549	$0.55	1d	1	1.47mi

Listing history 26 events

1. 2026-06-18
   days on market $32,900 Active 72 DOM
2. 2026-06-17
   days on market $32,900 Active 71 DOM
3. 2026-06-16
   days on market $32,900 Active 70 DOM
4. 2026-06-15
   days on market $32,900 Active 69 DOM
5. 2026-06-13
   days on market $32,900 Active 67 DOM
6. 2026-06-12
   days on market $32,900 Active 66 DOM
7. 2026-06-09
   days on market $32,900 Active 63 DOM
8. 2026-06-08
   days on market $32,900 Active 62 DOM
9. 2026-06-07
   days on market $32,900 Active 61 DOM
10. 2026-06-05
    days on market $32,900 Active 59 DOM
11. 2026-06-03
    days on market $32,900 Active 57 DOM
12. 2026-06-02
    days on market $32,900 Active 56 DOM
13. 2026-06-02
    price $32,900 Active 55 DOM
14. 2026-06-01
    days on market $33,900 Active 55 DOM
15. 2026-05-31
    days on market $33,900 Active 54 DOM
16. 2026-04-29
    price $33,900
17. 2026-04-07
    listed $35,000 Active
18. 2023-09-01
    historical
19. 2023-06-28
    status Active
20. 2023-06-28
    price $43,900
21. 2023-06-27
    historical
22. 2023-06-15
    price $45,000
23. 2023-05-24
    price $47,000
24. 2023-05-10
    price $48,000
25. 2023-04-29
    listed $50,000 Active
26. 1998-10-30
    soldstatus $17,500

ⓘ 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: $1,552 · $129/mo
• Projected year-2 tax: $1,552 · $129/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: $11,463
• − Mortgage interest: −$1,843
• − Property taxes: −$1,552
• − Insurance: −$164
• − Repairs & maintenance: −$917
• − Management: −$917
• − Depreciation: −$957
• Taxable income: $5,113
• Est. tax owed @ 24.0%: −$1,227
• After-tax cash flow: $4,042/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

+93.7% since first listed

11 events — show timeline

• 2026-04-29 Price Changed $33,900 MARIS as Distributed by MLS Grid
• 2026-04-07 Listed $35,000 MARIS as Distributed by MLS Grid
• 2023-09-01 Delisted — MARIS as Distributed by MLS Grid
• 2023-06-28 Relisted — MARIS as Distributed by MLS Grid
• 2023-06-28 Price Changed $43,900 MARIS as Distributed by MLS Grid
• 2023-06-27 Delisted — MARIS as Distributed by MLS Grid
• 2023-06-15 Price Changed $45,000 MARIS as Distributed by MLS Grid
• 2023-05-24 Price Changed $47,000 MARIS as Distributed by MLS Grid
• 2023-05-10 Price Changed $48,000 MARIS as Distributed by MLS Grid
• 2023-04-29 Listed $50,000 MARIS as Distributed by MLS Grid
• 1998-10-30 Sold (Public Records) $17,500 Public Records

Property tax history

+2.2%/yr

Latest (2024): $1,552 · +5.3% YoY. Source: county tax records.