202 Summit Ave · Glen Carbon, IL 62034

$130,000

2 bd · 1.0 ba · 1,232 sqft · SingleFamily public records · 46 Days on market

Built 1930 5,662 sqft lot $106/sqft · 27% below area Est $177k · 27% under

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Why this score? — see what drove the C- 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 +17.1/30.0
• ARV discount +15.0/15.0
• DSCR +5.3/10.0
• 1% rule +4.9/10.0
• Livability +3.8/5.0
• Schools +3.5/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This charming bungalow-style home sits on a corner lot just steps from downtown. Featuring 3 bedrooms and 2 baths, the home welcomes you from a covered front porch into a sunny living room with a coat closet and newer carpeting. The main floor includes a bedroom with an arched opening to a 3/4 bath ensuite. The spacious kitchen provides ample cabinetry, two additional prep areas with butcher block counters, and a small pantry. A convenient laundry space and drop zone connect the kitchen to the side exterior entrance. Upstairs, you’ll find two additional bedrooms and a full bath. The exterior offers a spacious yard with a large shade tree, a Tough Shed for lawn and hobby equipment, and ample designated rocked parking. Enjoy an unbeatable walkable location near the Wood Nickel, Miner Park, the library, and popular community events like Glenfest; an excellent chance to invest in one of Glen Carbon’s most desirable areas. Home is being sold as is.

Key facts

• 5,662 sq ft lot
• Built 1930
• Listed 46 days

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $130k.

Deal economics

• At list price, monthly cash flow is $92 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $128k (1.5% below list).
• Recommended offer: $126k (3.0% below list) — sets the bar for market timing.
• Cap rate 7.1% vs local median 2.1% in Glen Carbon — 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 75/100 on livability (#236 in IL, #4,344 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: amenities F, commute F, health & safety F.
• Edwardsville CUSD 7 (suburban): math 39% / reading 36% proficiency, ranked #142 of 620 in IL (top 23%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; only 16% free/reduced lunch — higher-income household profile.
• Market conditions: 114 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 11d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 336 units permitted in Madison County in 2024 (0 in 5+ unit buildings).
• This rent is only 15% of the median local income ($101k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $899 of loan paydown is wiped out by about $4k 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.

Negotiation context

• It's been on market 46 days — a 3% lower offer ($126k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask is 13% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $58k; list at $130k implies a 126% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1930 — 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 $126,100 (3.0% below list)

Questions for the listing agent

1. It's been on market 46 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 1930 — 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 B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
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: 0.99% ✗
• Cap rate: 7.14%
• Cash-on-cash: 3.02%
• DSCR: 1.13
• GRM: 8.5

CMA / ARV

• ARV (median comp): $176,882
• List price: $130,000
• Delta: -26.50%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
202 Summit Ave	0.00mi	3/2.0 (+1)	1,232 (0%)	0mo	$130,000	$106	91
220 Summit Ave	0.06mi	2/1.0	1,171 (-5%)	12mo	$130,000	$111	79
127 Collinsville St	0.18mi	3/2.0 (+1)	1,192 (-3%)	8mo	$205,000	$172	70
42 Sunset Ave	0.14mi	2/1.0	1,144 (-7%)	19mo	$160,000	$140	66
181 Hampton Dr	0.71mi	3/2.0 (+1)	1,232 (0%)	6mo	$315,000	$256	52
204 Lake Hillcrest Dr	0.73mi	2/1.5	1,144 (-7%)	1mo	$160,000	$140	51
6037 Cherokee Ave	0.69mi	3/2.0 (+1)	1,344 (+9%)	3mo	$240,000	$179	41
14 Shaderest Ct	0.52mi	3/2.5 (+1)	1,396 (+13%)	9mo	$279,000	$200	35

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: -11.5%
• Equity multiple: 0.58×
• Total profit: $-15,198
• Equity at exit: $19,383

10-year hold

• IRR: -2.3%
• Equity multiple: 0.85×
• Total profit: $-5,588
• Equity at exit: $11,240

Cash invested: $36,400 (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 62034

• Home prices YoY: -13.7%
• Active inventory: 114
• Price-to-rent: 8.5×

Monthly cashflow live

• Estimated rent: $1,281 medium
• Mortgage (P&I): −$682
• Tax from tax record: −$185 /mo · $2,215/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$269
• Net cashflow: $92

Break-even live

Break-even rent $1,165

Max offer price $130,000

Occupancy floor 88%

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: $32,500
• Closing costs: $3,900
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
77 Sunset Ave Glen Carbon, IL	3.0	1.0	1500	$1,395	$0.93	16d	1	0.03mi
8 Coachlight Trailer Park Glen Carbon, IL	2.0	1.0	728	$1,000	$1.37	2d	1	0.28mi
135 Appletree Ln Glen Carbon, IL	3.0	1.0	925	$1,700	$1.84	11d	1	0.89mi

Listing history 11 events

1. 2026-05-03
   status Pending 969-char remark

   Show marketing remark (969 chars)

   This charming bungalow-style home sits on a corner lot just steps from downtown. Featuring 3 bedrooms and 2 baths, the home welcomes you from a covered front porch into a sunny living room with a coat closet and newer carpeting. The main floor includes a bedroom with an arched opening to a 3/4 bath ensuite. The spacious kitchen provides ample cabinetry, two additional prep areas with butcher block counters, and a small pantry. A convenient laundry space and drop zone connect the kitchen to the side exterior entrance. Upstairs, you’ll find two additional bedrooms and a full bath. The exterior offers a spacious yard with a large shade tree, a Tough Shed for lawn and hobby equipment, and ample designated rocked parking. Enjoy an unbeatable walkable location near the Wood Nickel, Miner Park, the library, and popular community events like Glenfest; an excellent chance to invest in one of Glen Carbon’s most desirable areas. Home is being sold as is.

2. 2026-04-17
   price $130,000 969-char remark

   Show marketing remark (969 chars)

   This charming bungalow-style home sits on a corner lot just steps from downtown. Featuring 3 bedrooms and 2 baths, the home welcomes you from a covered front porch into a sunny living room with a coat closet and newer carpeting. The main floor includes a bedroom with an arched opening to a 3/4 bath ensuite. The spacious kitchen provides ample cabinetry, two additional prep areas with butcher block counters, and a small pantry. A convenient laundry space and drop zone connect the kitchen to the side exterior entrance. Upstairs, you’ll find two additional bedrooms and a full bath. The exterior offers a spacious yard with a large shade tree, a Tough Shed for lawn and hobby equipment, and ample designated rocked parking. Enjoy an unbeatable walkable location near the Wood Nickel, Miner Park, the library, and popular community events like Glenfest; an excellent chance to invest in one of Glen Carbon’s most desirable areas. Home is being sold as is.

3. 2026-04-07
   status Active 969-char remark

   Show marketing remark (969 chars)

   This charming bungalow-style home sits on a corner lot just steps from downtown. Featuring 3 bedrooms and 2 baths, the home welcomes you from a covered front porch into a sunny living room with a coat closet and newer carpeting. The main floor includes a bedroom with an arched opening to a 3/4 bath ensuite. The spacious kitchen provides ample cabinetry, two additional prep areas with butcher block counters, and a small pantry. A convenient laundry space and drop zone connect the kitchen to the side exterior entrance. Upstairs, you’ll find two additional bedrooms and a full bath. The exterior offers a spacious yard with a large shade tree, a Tough Shed for lawn and hobby equipment, and ample designated rocked parking. Enjoy an unbeatable walkable location near the Wood Nickel, Miner Park, the library, and popular community events like Glenfest; an excellent chance to invest in one of Glen Carbon’s most desirable areas. Home is being sold as is.

4. 2026-04-07
   price $150,000 969-char remark

   Show marketing remark (969 chars)

   This charming bungalow-style home sits on a corner lot just steps from downtown. Featuring 3 bedrooms and 2 baths, the home welcomes you from a covered front porch into a sunny living room with a coat closet and newer carpeting. The main floor includes a bedroom with an arched opening to a 3/4 bath ensuite. The spacious kitchen provides ample cabinetry, two additional prep areas with butcher block counters, and a small pantry. A convenient laundry space and drop zone connect the kitchen to the side exterior entrance. Upstairs, you’ll find two additional bedrooms and a full bath. The exterior offers a spacious yard with a large shade tree, a Tough Shed for lawn and hobby equipment, and ample designated rocked parking. Enjoy an unbeatable walkable location near the Wood Nickel, Miner Park, the library, and popular community events like Glenfest; an excellent chance to invest in one of Glen Carbon’s most desirable areas. Home is being sold as is.

5. 2026-01-23
   historical Active Under Contract 969-char remark

   Show marketing remark (969 chars)

   This charming bungalow-style home sits on a corner lot just steps from downtown. Featuring 3 bedrooms and 2 baths, the home welcomes you from a covered front porch into a sunny living room with a coat closet and newer carpeting. The main floor includes a bedroom with an arched opening to a 3/4 bath ensuite. The spacious kitchen provides ample cabinetry, two additional prep areas with butcher block counters, and a small pantry. A convenient laundry space and drop zone connect the kitchen to the side exterior entrance. Upstairs, you’ll find two additional bedrooms and a full bath. The exterior offers a spacious yard with a large shade tree, a Tough Shed for lawn and hobby equipment, and ample designated rocked parking. Enjoy an unbeatable walkable location near the Wood Nickel, Miner Park, the library, and popular community events like Glenfest; an excellent chance to invest in one of Glen Carbon’s most desirable areas. Home is being sold as is.

6. 2026-01-21
   listed $115,000 Active 969-char remark

   Show marketing remark (969 chars)

   This charming bungalow-style home sits on a corner lot just steps from downtown. Featuring 3 bedrooms and 2 baths, the home welcomes you from a covered front porch into a sunny living room with a coat closet and newer carpeting. The main floor includes a bedroom with an arched opening to a 3/4 bath ensuite. The spacious kitchen provides ample cabinetry, two additional prep areas with butcher block counters, and a small pantry. A convenient laundry space and drop zone connect the kitchen to the side exterior entrance. Upstairs, you’ll find two additional bedrooms and a full bath. The exterior offers a spacious yard with a large shade tree, a Tough Shed for lawn and hobby equipment, and ample designated rocked parking. Enjoy an unbeatable walkable location near the Wood Nickel, Miner Park, the library, and popular community events like Glenfest; an excellent chance to invest in one of Glen Carbon’s most desirable areas. Home is being sold as is.

7. 2026-01-17
   historical $115,000 969-char remark

   Show marketing remark (969 chars)

   This charming bungalow-style home sits on a corner lot just steps from downtown. Featuring 3 bedrooms and 2 baths, the home welcomes you from a covered front porch into a sunny living room with a coat closet and newer carpeting. The main floor includes a bedroom with an arched opening to a 3/4 bath ensuite. The spacious kitchen provides ample cabinetry, two additional prep areas with butcher block counters, and a small pantry. A convenient laundry space and drop zone connect the kitchen to the side exterior entrance. Upstairs, you’ll find two additional bedrooms and a full bath. The exterior offers a spacious yard with a large shade tree, a Tough Shed for lawn and hobby equipment, and ample designated rocked parking. Enjoy an unbeatable walkable location near the Wood Nickel, Miner Park, the library, and popular community events like Glenfest; an excellent chance to invest in one of Glen Carbon’s most desirable areas. Home is being sold as is.

8. 2000-05-09
   soldstatus $57,500
9. 1997-10-01
   soldstatus $42,000
10. 1996-05-21
    soldstatus $11,500
11. 1990-08-08
    soldstatus $38,000

ⓘ 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: $2,215 · $185/mo
• Projected year-2 tax: $2,583 · $215/mo
• Expected delta: +$368/yr (+$31/mo · 16.6%)

ⓘ 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 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,373
• − Mortgage interest: −$7,282
• − Property taxes: −$2,215
• − Insurance: −$650
• − Repairs & maintenance: −$1,230
• − Management: −$1,230
• − Depreciation: −$3,782
• Taxable loss: −$1,015
• Est. tax savings @ 24.0%: +$244
• After-tax cash flow: $1,343/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: Edwardsville CUSD 7
• NCES district ID: 1713530
• Math proficiency: 39% ▼ -12.00%
• Reading proficiency: 36% ▼ -17.00%
• Median HH income: $72,131
• Composite: 34.56/100
• National rank: #5169
• State rank: #142 of 620 in IL

Livability — Glen Carbon

• Score: 75/100
• State rank: #236
• US rank: #4344

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Glen Carbon, IL
• County: Madison County · 189,064 people
• City population: 14,870
• Metro: St. Louis, MO-IL
• Population (ZIP): 14,870
• Household income: $101,260
• Rent vs Own: 29.2% rent · 70.8% own
• Severe rent burden: 153.0

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 (83%)
• Race & ethnicity: White 83% Black 8% Two or more races 5% Hispanic / Latino 4%
• Common ancestry: Romanian 4% Lithuanian 4% Italian 3%
• Foreign-born: 2% · Canada, China
• Languages at home: 97% English-only · Spanish 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: ▼ -37.33%
• Current HPI: 235.3221
• Rent YoY: —
• 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

+242.1% since first listed

11 events — show timeline

• 2026-05-03 Pending — MARIS as Distributed by MLS Grid
• 2026-04-17 Price Changed $130,000 MARIS as Distributed by MLS Grid
• 2026-04-07 Relisted — MARIS as Distributed by MLS Grid
• 2026-04-07 Price Changed $150,000 MARIS as Distributed by MLS Grid
• 2026-01-23 Contingent — MARIS as Distributed by MLS Grid
• 2026-01-21 Listed $115,000 MARIS as Distributed by MLS Grid
• 2026-01-17 Coming Soon $115,000 MARIS as Distributed by MLS Grid
• 2000-05-09 Sold (Public Records) $57,500 Public Records
• 1997-10-01 Sold (Public Records) $42,000 Public Records
• 1996-05-21 Sold (Public Records) $11,500 Public Records
• 1990-08-08 Sold (Public Records) $38,000 Public Records

Property tax history

+7.9%/yr

Latest (2024): $2,215 · +5.0% YoY. Source: county tax records.