508 S Charles · Belleville, IL 62220

$30,000

2 bd · 3.0 ba · 870 sqft · SingleFamily public records · 49 Days on market

Built 1858 4,791 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
• Rent growth +5.0/5.0
• Livability +3.9/5.0
• Condition / age +2.5/5.0
• Schools +2.2/10.0
• Appreciation +0.0/10.0

Listing remarks

Attention Rehabbers! All brick historic bungalow is waiting to become fabulous again. 2 bedroom home close to Belleville's downtown entertainment district. This home will need a complete rehab but look closely at the beautiful wood floors, open staircase and of course the location, location, location. 2nd floor bedroom could be an incredible master bedroom with a large walk-in closet and a dreamy master bathroom. There is room on the 2nd floor for a washer and dryer. 1st floor offers a very large living room, dining room, bedroom, bath with a clawfoot tub and the kitchen. This home does have a newer roof. Property is sold "as is".

Key facts

• Historic bungalow
• Open staircase
• Large walk-in closet

Tags

• HISTORIC BUNGALOW
• BEAUTIFUL WOOD FLOORS
• OPEN STAIRCASE
• LARGE WALK-IN CLOSET
• DREAMY MASTER BATHROOM
• ROOM FOR WASHER AND DRYER

Property features AI

Finance

• Other: Living area information provided by assessor
• Financial info: No investor or income/expense details provided
• HOA & community: No HOA information provided

Exterior

• Parking: Off-street parking
• Security: No security details provided
• Utilities: Public water; Public sewer; Electric service (Ameren); Electricity and natural gas available
• Home design: Single-family residence; One and one-half story
• Construction: Brick veneer exterior
• Exterior features: Lot features: Other; Gravel road access

Interior

• Kitchen: No specific kitchen appliances listed
• Bedrooms: 2 bedrooms total (1 on main level, 1 on upper level)
• Flooring: No flooring details provided
• Bathrooms: 2 full bathrooms (1 on main level, 1 on upper level)
• Heating & cooling: Natural gas heating with forced air; Central electric air conditioning
• Interior features: Gas water heater; Full basement
• Laundry & utility: No laundry details provided

What this means for you Summary

Snapshot

• This is a 2-bed/3.0-bath single-family listed at $30k.

Deal economics

• At list price, monthly cash flow is $552 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($992 rent vs $30k).
• Recommended offer: $29k (3.0% below list) — sets the bar for market timing.
• Cap rate 28.4% vs local median 5.6% in Belleville — 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 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: Belleville High School-East (math 23% / reading 30%, grade F, #241 of 693 statewide, top 35%, 2,568 students, 0% FRL).
• Market conditions: Rents rising fast (+14.5%/yr); 148 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 17d on market — plan ~3-4 weeks tenant-placement turnaround); 783 units permitted in St. Clair County in 2024 (378 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $207 of loan paydown is wiped out by about $900 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.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $8k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 49 days — a 3% lower offer ($29k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1858 — 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 $29,100 (3.0% below list)

Questions for the listing agent

1. It's been on market 49 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 1858 — 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. 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: 3.31% ✓
• Cap rate: 28.37%
• Cash-on-cash: 78.83%
• DSCR: 4.51
• GRM: 2.5

CMA / ARV

• ARV (on-the-fly): $100,920
• Comps found: 11

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
509 S Church St	0.09mi	2/1.0	848 (-2%)	3mo	$99,900	$118	81
412 E Mckinley St	0.11mi	2/1.0	832 (-4%)	8mo	$50,000	$60	73
317 E Garfield St	0.11mi	1/1.0 (-1)	842 (-3%)	4mo	$55,000	$65	73
18 W Garfield St	0.35mi	2/1.0	850 (-2%)	4mo	$49,900	$59	68
506 E Mckinley St	0.13mi	1/1.5 (-1)	780 (-10%)	1mo	$99,900	$128	65
1000 E Mckinley St	0.45mi	3/1.0 (+1)	912 (+5%)	3mo	$172,500	$189	56
800 Olive St	0.44mi	3/1.5 (+1)	935 (+8%)	8mo	$89,000	$95	50
727 Wabash Ave	0.74mi	2/1.0	900 (+3%)	8mo	$89,900	$100	45
400 S Belt	0.75mi	3/1.5 (+1)	864 (-1%)	13mo	$100,000	$116	42
317 Pennsylvania Ave S	0.73mi	2/1.0	935 (+8%)	14mo	$139,900	$150	34
128 Rosette Dr	0.68mi	3/1.0 (+1)	928 (+7%)	16mo	$150,000	$162	31

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: 84.7%
• Equity multiple: 5.23×
• Total profit: $35,558
• Equity at exit: $4,473

10-year hold

• IRR: 89.2%
• Equity multiple: 12.93×
• Total profit: $100,212
• Equity at exit: $2,594

Cash invested: $8,400 (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 62220

• Home prices YoY: -26.4%
• Rents YoY: 14.5%
• Active inventory: 148
• Price-to-rent: 2.5×

Monthly cashflow live

• Estimated rent: $992 high
• Mortgage (P&I): −$157
• Tax from tax record: −$62 /mo · $749/yr
• Insurance: −$12
• HOA: −$0
• Vacancy / Maint / Mgmt: −$208
• Net cashflow: $552

Break-even live

Break-even rent $294

Max offer price $30,000

Occupancy floor 39%

Sensitivity live

Price	-10% $569	-5% $560	+0% $552	+5% $543	+10% $535
Rent	-10% $473	-5% $513	+0% $552	+5% $591	+10% $630
Rate	-1.0pp $567	-0.5pp $559	base $552	+0.5pp $544	+1.0pp $536

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: $7,500
• Closing costs: $900
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
229 S Church St Belleville, IL	1.0	1.0	636	$750	$1.18	24d	1	0.21mi
603 W Lincoln St Belleville, IL	1.0	1.0	735	$750	$1.02	24d	1	0.81mi
1104 Bel Aire Dr Belleville, IL	2.0	1.0	780	$1,350	$1.73	2d	1	0.87mi
537 Vicksburg Dr Unit h Belleville, IL	2.0	1.0	950	$1,190	$1.25	17d	1	1.32mi
1308 Caseyville Ave Swansea, IL	2.0	1.0	890	$1,200	$1.35	5d	1	1.40mi

Listing history 15 events

1. 2026-06-19
   status $30,000 Pending 49 DOM
2. 2026-06-18
   days on market $30,000 Active 49 DOM
3. 2026-06-17
   days on market $30,000 Active 48 DOM
4. 2026-06-16
   days on market $30,000 Active 47 DOM
5. 2026-06-15
   days on market $30,000 Active 46 DOM
6. 2026-06-13
   days on market $30,000 Active 44 DOM
7. 2026-06-09
   days on market $30,000 Active 40 DOM
8. 2026-06-08
   days on market $30,000 Active 39 DOM
9. 2026-06-07
   days on market $30,000 Active 38 DOM
10. 2026-06-03
    days on market $30,000 Active 34 DOM
11. 2026-06-02
    days on market $30,000 Active 33 DOM
12. 2026-06-01
    days on market $30,000 Active 32 DOM
13. 2026-05-31
    days on market $30,000 Active 31 DOM
14. 2026-04-30
    listed $30,000 Active
15. 2026-04-30
    historical $30,000

ⓘ 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: $749 · $62/mo
• Projected year-2 tax: $749 · $62/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 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: $11,909
• − Mortgage interest: −$1,680
• − Property taxes: −$749
• − Insurance: −$150
• − Repairs & maintenance: −$953
• − Management: −$953
• − Depreciation: −$873
• Taxable income: $6,552
• Est. tax owed @ 24.0%: −$1,572
• After-tax cash flow: $5,049/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): 19,152
• Household income: $65,952
• Rent vs Own: 37.0% rent · 63.0% own
• Severe rent burden: 923.0

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: Predominantly White (67%)
• Race & ethnicity: White 67% Black 22% Two or more races 6% Hispanic / Latino 3% Asian 1%
• Common ancestry: Lithuanian 2% Slovak 2% Romanian 2%
• Foreign-born: 4% · Canada
• Languages at home: 95% English-only · Arabic 2% Spanish 1% Other Indo-European 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: ▼ -52.27%
• Current HPI: 145.9237
• Rent YoY: ▲ 14.47%
• 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

+0.0% since first listed

2 events — show timeline

• 2026-04-30 Listed $30,000 MARIS as Distributed by MLS Grid
• 2026-04-30 Coming Soon $30,000 MARIS as Distributed by MLS Grid

Property tax history

+14.6%/yr

Latest (2024): $749 · +16.2% YoY. Source: county tax records.