2710 Madison Ave · Granite City, IL 62040

$40,500

4 bd · 1.0 ba · 800 sqft · SingleFamily public records · 92 Days on market

Built 1930 4,800 sqft lot $51/sqft · 40% below area ↓ 11% since listing

---

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 +3.2/5.0
• 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

Investor Special in Granite City – Endless Potential! Opportunity awaits with this 3-bedroom, 1-bath home located in the heart of Granite City, offering convenient access to shopping, dining, and everyday amenities. This property features a spacious kitchen and comfortable living room layout, are you ready for your next renovation project. Enjoy outdoor living with a generously sized fenced backyard—perfect for entertaining, pets, or future upgrades. The front porch offers the perfect spot to relax with your morning coffee while taking in the neighborhood surroundings. This home is being sold as an investor special and is ready for your vision and updates. Whether you're looking to expand your rental portfolio or create your own forever home, this property is full of potential and value-add opportunity.Bring your ideas, sweat equity, and make it your own! Newer roof 2018, Home sold as is, Speak with your agent about the short sale process, seller will not pay for occupancy or any repairs or inspections. Updated pictures to come

Key facts

• Spacious kitchen
• Front porch
• Fenced backyard

Tags

• SPACIOUS KITCHEN
• COMFORTABLE LIVING ROOM
• FENCED BACKYARD
• FRONT PORCH

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $40k.

Deal economics

• At list price, monthly cash flow is $884 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $40k).
• Recommended offer: $37k (9.0% below list) — sets the bar for market timing.
• 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: schools F, crime F, amenities 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.
• Market conditions: Rents rising (+1.7%/yr); 194 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 8d 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 $280 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 + 1.7% rent growth), your $11k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 92 days — a 9% lower offer ($37k) is reasonable based on typical stale-listing flexibility.

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 $36,855 (9.0% below list)

Questions for the listing agent

1. It's been on market 92 days. Have you received any prior offers? Is the seller open to a 9% 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 32.48%
• Cash-on-cash: 93.53%
• DSCR: 5.16
• GRM: 2.3

CMA / ARV

• ARV (median comp): $102,021
• List price: $40,500
• Delta: -60.30%
• 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
2532 E 27th St	0.19mi	3/1.0 (-1)	720 (-10%)	9mo	$60,000	$83	62
2564 Benton St	0.44mi	3/1.0 (-1)	870 (+9%)	6mo	$108,000	$124	55
2205 E 24th St	0.56mi	3/1.0 (-1)	736 (-8%)	5mo	$12,000	$16	51
2823 Marshall Ave	0.65mi	3/1.0 (-1)	888 (+11%)	3mo	$49,900	$56	44
2813 Myrtle Ave	0.52mi	3/1.0 (-1)	910 (+14%)	8mo	$114,900	$126	41
122 Wilson Park Ln	0.67mi	3/1.0 (-1)	900 (+12%)	3mo	$110,000	$122	41
200 Wilson Park Ln	0.72mi	3/1.0 (-1)	900 (+12%)	1mo	$145,000	$161	39
2406 Grand Ave	0.54mi	3/2.0 (-1)	884 (+10%)	16mo	$99,900	$113	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 · 1.67% rent growth · sell at horizon

5-year hold

• IRR: 92.8%
• Equity multiple: 5.22×
• Total profit: $47,808
• Equity at exit: $6,039

10-year hold

• IRR: 95.4%
• Equity multiple: 10.39×
• Total profit: $106,435
• Equity at exit: $3,502

Cash invested: $11,340 (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: $1,473 medium
• Mortgage (P&I): −$212
• Tax est. 1.5%: −$51 /mo · $608/yr
• Insurance: −$17
• HOA: −$0
• Vacancy / Maint / Mgmt: −$309
• Net cashflow: $884

Break-even live

Break-even rent $354

Max offer price $40,500

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: $10,125
• Closing costs: $1,215
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2415 Jerden Ave Granite City, IL	3.0	1.0	970	$1,400	$1.44	4d	1	0.17mi
2556 Center St Granite City, IL	3.0	1.0	874	$1,500	$1.72	14d	1	0.58mi
303 Wilson Park Ln Granite City, IL	3.0	1.0	900	$1,200	$1.33	7d	1	0.87mi

Listing history 16 events

1. 2026-06-17
   days on market $40,500 Active 92 DOM
2. 2026-06-16
   days on market $40,500 Active 91 DOM
3. 2026-06-15
   days on market $40,500 Active 90 DOM
4. 2026-06-13
   days on market $40,500 Active 88 DOM
5. 2026-06-13
   days on market $40,500 Active 87 DOM
6. 2026-06-09
   days on market $40,500 Active 84 DOM
7. 2026-06-08
   days on market $40,500 Active 83 DOM
8. 2026-06-07
   days on market $40,500 Active 82 DOM
9. 2026-06-05
   pricedays on market $40,500 Active 79 DOM
10. 2026-06-03
    days on market $50,500 Active 78 DOM
11. 2026-06-02
    days on market $50,500 Active 77 DOM
12. 2026-06-01
    days on market $50,500 Active 76 DOM
13. 2026-05-31
    days on market $50,500 Active 75 DOM
14. 2026-03-17
    listed $50,500 Active 1055-char remark

    Show marketing remark (1055 chars)

    Investor Special in Granite City – Endless Potential! Opportunity awaits with this 3-bedroom, 1-bath home located in the heart of Granite City, offering convenient access to shopping, dining, and everyday amenities. This property features a spacious kitchen and comfortable living room layout, are you ready for your next renovation project. Enjoy outdoor living with a generously sized fenced backyard—perfect for entertaining, pets, or future upgrades. The front porch offers the perfect spot to relax with your morning coffee while taking in the neighborhood surroundings. This home is being sold as an investor special and is ready for your vision and updates. Whether you're looking to expand your rental portfolio or create your own forever home, this property is full of potential and value-add opportunity.Bring your ideas, sweat equity, and make it your own! Newer roof 2018, Home sold as is, Speak with your agent about the short sale process, seller will not pay for occupancy or any repairs or inspections. Updated pictures to come

15. 2026-03-17
    historical $50,500 1055-char remark

    Show marketing remark (1055 chars)

    Investor Special in Granite City – Endless Potential! Opportunity awaits with this 3-bedroom, 1-bath home located in the heart of Granite City, offering convenient access to shopping, dining, and everyday amenities. This property features a spacious kitchen and comfortable living room layout, are you ready for your next renovation project. Enjoy outdoor living with a generously sized fenced backyard—perfect for entertaining, pets, or future upgrades. The front porch offers the perfect spot to relax with your morning coffee while taking in the neighborhood surroundings. This home is being sold as an investor special and is ready for your vision and updates. Whether you're looking to expand your rental portfolio or create your own forever home, this property is full of potential and value-add opportunity.Bring your ideas, sweat equity, and make it your own! Newer roof 2018, Home sold as is, Speak with your agent about the short sale process, seller will not pay for occupancy or any repairs or inspections. Updated pictures to come

16. 2007-03-21
    soldstatus $57,000

ⓘ 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: $17,677
• − Mortgage interest: −$2,269
• − Property taxes: −$608
• − Insurance: −$202
• − Repairs & maintenance: −$1,414
• − Management: −$1,414
• − Depreciation: −$1,178
• Taxable income: $10,592
• Est. tax owed @ 24.0%: −$2,542
• After-tax cash flow: $8,064/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

-11.4% since first listed

3 events — show timeline

• 2026-03-17 Listed $50,500 MARIS as Distributed by MLS Grid
• 2026-03-17 Coming Soon $50,500 MARIS as Distributed by MLS Grid
• 2007-03-21 Sold (Public Records) $57,000 Public Records

Property tax history

+6.4%/yr

Latest (2024): $2,175 · +1.5% YoY. Source: county tax records.