2566 State St · Granite City, IL 62040

$31,625

3 bd · 2.0 ba · 576 sqft · SingleFamily public records · 5 Days on market

Built 1922 5,000 sqft lot Est $44k · 28% under ↓ 42% 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 +3.2/5.0
• Rent growth +2.9/5.0
• Condition / age +2.5/5.0
• Schools +0.9/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Beautiful Rehabbed 2 story home. new appliances, windows, and floors. Spacious bedrooms. few blocks for Wilson park. Flat roof on back of home 2 Yrs ago. Roof 2011. Main floor master has tray ceiling. Bonus room/office in LL. Must see. All information should be verified as records obtained from county and not guaranteed by seller or agent. Wood deck and Privacy fencing. 1 car detached garage with concreter floor and possibly electric.

Key facts

• 5,000 sq ft lot
• Garage
• Built 1922

Property features AI

Finance

• Financial info: Lease not considered; No second mortgage indicated

Exterior

• Parking: Attached garage with 1 car space
• Utilities: Public water; Public sewer; Electric service by Ameren
• Home design: Single-family residence; One and one-half levels; Vinyl siding
• Construction: Vinyl siding construction
• Exterior features: Back yard

Interior

• Kitchen: Kitchen (approx. 10 x 10)
• Bedrooms: Four bedrooms — all on the upper level (three bedrooms approx. 12 x 12; primary/another bedroom 12 x 12)
• Bathrooms: Two full bathrooms (one on the main level, one on the upper level)
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Living room (24 x 12); Dining room (12 x 12); Unfinished basement; Seven total rooms
• Laundry & utility: Basement utility space

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $32k.

Deal economics

• At list price, monthly cash flow is $691 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $32k).
• Cap rate 32.5% vs local median 7.0% in Granite City — 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 65/100 on livability (#623 in IL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: crime F, amenities F, commute F.
• Granite City CUSD 9 (suburban): math 9% / reading 11% proficiency, ranked #570 of 620 in IL (top 92%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Granite City High School (math 10% / reading 12%, grade F, #522 of 693 statewide, top 76%, 1,805 students, 0% FRL) — zoned schools average 0% FRL vs 59% district-wide (59 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: Rents rising (+1.7%/yr); 194 active listings in the ZIP; 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 $219 of loan paydown is wiped out by about $949 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 + 1.7% rent growth), your $9k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 4y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Watch-outs: built in 1922 — 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 $31,625

Questions for the listing agent

1. Built in 1922 — 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. 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?
4. 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?
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: 3.64% ✓
• Cap rate: 32.50%
• Cash-on-cash: 93.61%
• DSCR: 5.17
• GRM: 2.3

CMA / ARV

• ARV (on-the-fly): $43,776
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2435 Washington Ave	0.27mi	3/2.0	648 (+12%)	4mo	$95,000	$147	63
2412 Bromley Ave	0.37mi	2/1.0 (-1)	616 (+7%)	18mo	$40,000	$65	47
2622 Lincoln Ave	0.73mi	2/1.0 (-1)	656 (+14%)	13mo	$50,000	$76	23

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 · 1.67% rent growth · sell at horizon

5-year hold

• IRR: 92.9%
• Equity multiple: 5.22×
• Total profit: $37,367
• Equity at exit: $4,715

10-year hold

• IRR: 95.5%
• Equity multiple: 10.39×
• Total profit: $83,186
• Equity at exit: $2,734

Cash invested: $8,855 (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 62040

• Home prices YoY: -21.8%
• Rents YoY: 1.7%
• Active inventory: 194
• Price-to-rent: 2.3×

Monthly cashflow live

• Estimated rent: $1,151 medium
• Mortgage (P&I): −$166
• Tax est. 1.5%: −$40 /mo · $474/yr
• Insurance: −$13
• HOA: −$0
• Vacancy / Maint / Mgmt: −$242
• Net cashflow: $691

Break-even live

Break-even rent $277

Max offer price $31,625

Occupancy floor 35%

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: $7,906
• Closing costs: $949
• Reserves months: —
• Total cash needed: —

Listing history 5 events

1. 2026-06-18
   days on market $31,625 Active 5 DOM
2. 2026-06-17
   days on market $31,625 Active 4 DOM
3. 2026-06-16
   days on market $31,625 Active 3 DOM
4. 2026-06-15
   remarks 675-char remark
5. 2026-06-15
   listed $31,625 Active 2 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥108°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 4 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,812
• − Mortgage interest: −$1,771
• − Property taxes: −$474
• − Insurance: −$158
• − Repairs & maintenance: −$1,105
• − Management: −$1,105
• − Depreciation: −$920
• Taxable income: $8,278
• Est. tax owed @ 24.0%: −$1,987
• After-tax cash flow: $6,302/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: Granite City CUSD 9
• NCES district ID: 1717280
• Math proficiency: 9% ▼ -4.00%
• Reading proficiency: 11% ▼ -7.00%
• Median HH income: $45,082
• Composite: 9.15/100
• National rank: #9864
• State rank: #570 of 620 in IL

Livability — Granite City

• Score: 65/100
• State rank: #623
• US rank: #12751

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Granite City, IL
• County: Madison County · 189,064 people
• City population: 40,404
• Metro: St. Louis, MO-IL
• Population (ZIP): 40,404
• Household income: $60,031
• Rent vs Own: 25.0% rent · 75.0% own
• Severe rent burden: 923.0

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 (76%)
• Race & ethnicity: White 76% Hispanic / Latino 9% Black 9% Two or more races 7% Asian 1%
• Hispanic origin (detail): Mexican 7%
• Common ancestry: Romanian 2% Lithuanian 2% Serbian 2%
• Foreign-born: 3% · Canada, Vietnam
• Languages at home: 93% English-only · Spanish 5%

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: ▼ -56.88%
• Current HPI: 204.4612
• Rent YoY: ▲ 1.67%
• 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

-42.0% since first listed

15 events — show timeline

• 2026-06-13 Listed $31,625 MARIS as Distributed by MLS Grid
• 2023-03-07 Pending — MARIS as Distributed by MLS Grid
• 2023-03-06 Sold (MLS) — MARIS as Distributed by MLS Grid
• 2023-01-23 Contingent — MARIS as Distributed by MLS Grid
• 2022-10-31 Listed $162,900 MARIS as Distributed by MLS Grid
• 2022-04-22 Sold (Public Records) $62,000 Public Records
• 2022-04-21 Sold (MLS) — MARIS as Distributed by MLS Grid
• 2022-04-10 Pending — MARIS as Distributed by MLS Grid
• 2022-04-06 Price Changed $69,900 MARIS as Distributed by MLS Grid
• 2022-02-26 Price Changed $79,900 MARIS as Distributed by MLS Grid
• 2022-01-18 Listed $85,000 MARIS as Distributed by MLS Grid
• 2022-01-17 Coming Soon $85,000 MARIS as Distributed by MLS Grid
• 2004-04-08 Sold (Public Records) $67,000 Public Records
• 1999-01-20 Sold (Public Records) $69,500 Public Records
• 1996-09-26 Sold (Public Records) $54,500 Public Records

Property tax history

+6.4%/yr

Latest (2024): $2,866 · +1.5% YoY. Source: county tax records.