902 Royal St · Alton, IL 62002

$102,900

3 bd · 1.5 ba · 804 sqft · SingleFamily public records · 25 Days on market

Built 1904 6,246 sqft lot Est $96k · 7% over

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Why this score? — see what drove the D- 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 +13.2/30.0
• 1% rule +5.7/10.0
• Rent growth +4.6/5.0
• ARV discount +4.5/15.0
• DSCR +4.0/10.0
• Livability +3.2/5.0
• Condition / age +2.5/5.0
• Schools +1.1/10.0
• Appreciation +0.0/10.0

Listing remarks

3 bedroom home for sale in historic Middletown, Alton! Home offers 2 stories, with full basement, fenced yard, and more. Freshly painted. New roof will be put on within the next week. Great location near park, school, and the wonderful downtown area. Sold as is.

Key facts

• Fenced yard
• Full basement
• Historic middletown

Tags

• HISTORIC MIDDLETOWN
• FULL BASEMENT
• FENCED YARD
• GREAT LOCATION NEAR PARK
• GREAT LOCATION NEAR SCHOOL

Property features AI

Exterior

• Utilities: Public water; Public sewer; Electric service by Ameren
• Home design: Single-family residence; Two levels; Residential property
• Construction: Vinyl siding
• Exterior features: Covered porch

Interior

• Kitchen: Gas range
• Bedrooms: 3 bedrooms (all on the upper level)
• Bathrooms: 1 full bath; 1 half bath
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Gas range; Full basement
• Laundry & utility: Has basement (utility space)

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $103k.

Deal economics

• At list price, monthly cash flow is $-1 ($-15/yr) — negative.
• To cash-flow at today's rent, offer at most $103k (0.2% below list).
• Meets the 1% rule at list price ($1k rent vs $103k).
• Recommended offer: $101k (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads 64/100 on livability (#701 in IL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A; Watch: health & safety C-, crime F, amenities D-.
• Alton CUSD 11 (suburban): math 12% / reading 13% proficiency, ranked #544 of 620 in IL (top 88%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 60% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Alton High School (math 20% / reading 25%, grade F, #317 of 693 statewide, top 46%, 1,990 students, 0% FRL) — zoned schools average 0% FRL vs 60% district-wide (60 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: Rents rising fast (+8.2%/yr); 169 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 43% of comp listings sitting > 30 days — soft ceiling on asking rent; 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 $711 of loan paydown is wiped out by about $3k 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 25 days — a 2% lower offer ($101k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: property tax is 3.4% of price; built in 1904 — 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 $101,356 (1.5% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Built in 1904 — 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. 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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 1.07% ✓
• Cap rate: 6.28%
• Cash-on-cash: -0.05%
• DSCR: 1.00
• GRM: 7.8

CMA / ARV

• ARV (on-the-fly): $96,480
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1101 Putnam St	0.20mi	2/2.0 (-1)	768 (-4%)	10mo	$30,000	$39	68
612 E Ninth	0.33mi	2/1.0 (-1)	768 (-4%)	3mo	$99,999	$130	68
560 Highland Ave	0.64mi	3/1.5	828 (+3%)	2mo	$6,000	$7	64
706 Linden St	0.11mi	2/1.0 (-1)	837 (+4%)	23mo	$149,000	$178	62
612 E 4th St	0.61mi	2/1.5 (-1)	819 (+2%)	2mo	$149,900	$183	61
1108 Harrison St	0.50mi	2/1.0 (-1)	864 (+8%)	4mo	$65,000	$75	54
818 Union St	0.24mi	2/1.0 (-1)	897 (+12%)	15mo	$24,900	$28	50
1225 Fairway Dr	0.72mi	2/1.0 (-1)	825 (+3%)	16mo	$68,500	$83	42
1134 Seiler St	0.52mi	3/1.0	903 (+12%)	15mo	$5,000	$6	41
750 Park Dr	0.70mi	2/1.0 (-1)	742 (-8%)	8mo	$90,000	$121	41
1122 Vernie Ave	0.58mi	2/1.0 (-1)	708 (-12%)	9mo	$84,900	$120	38
2139 Dunnegan St	0.73mi	3/1.0	912 (+13%)	21mo	$129,900	$142	24

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: -9.7%
• Equity multiple: 0.62×
• Total profit: $-10,811
• Equity at exit: $15,343

10-year hold

• IRR: 6.4%
• Equity multiple: 1.61×
• Total profit: $17,484
• Equity at exit: $8,897

Cash invested: $28,812 (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 62002

• Home prices YoY: -33.6%
• Rents YoY: 8.2%
• Active inventory: 169
• Price-to-rent: 7.8×

Monthly cashflow live

• Estimated rent: $1,103 high
• Mortgage (P&I): −$540
• Tax from tax record: −$290 /mo · $3,483/yr
• Insurance: −$43
• HOA: −$0
• Vacancy / Maint / Mgmt: −$232
• Net cashflow: $-1

Break-even live

Break-even rent $1,105

Max offer price $102,673

Occupancy floor 95%

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: $25,725
• Closing costs: $3,087
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1110 George St Alton, IL	2.0	1.0	780	$1,019	$1.31	43d	1	0.45mi
504 Cherry St Alton, IL	2.0	1.0	1000	$895	$0.90	43d	1	0.59mi
2222 Brown St Alton, IL	4.0	2.0	1025	$1,050	$1.02	7d	1	0.99mi
2016 Salu St Alton, IL	3.0	1.0	1073	$1,100	$1.03	16d	1	1.06mi
2418 Sanford Ave Alton, IL	2.0	1.0	958	$875	$0.91	20d	1	1.18mi
306 Lampert St Alton, IL	2.0	1.0	925	$1,000	$1.08	1d	1	1.31mi
3108 Alby St Alton, IL	2.0	1.0	900	$1,000	$1.11	43d	1	1.32mi

Listing history 15 events

1. 2026-06-18
   days on market $102,900 Active 25 DOM
2. 2026-06-17
   days on market $102,900 Active 24 DOM
3. 2026-06-16
   pricedays on market $102,900 Active 23 DOM
4. 2026-06-15
   days on market $109,900 Active 22 DOM
5. 2026-06-13
   days on market $109,900 Active 20 DOM
6. 2026-06-09
   days on market $109,900 Active 16 DOM
7. 2026-06-08
   remarks 262-char remark
8. 2026-06-08
   pricedays on market $109,900 Active 15 DOM
9. 2026-06-03
   days on market $114,900 Active 14 DOM
10. 2026-06-02
    days on market $114,900 Active 13 DOM
11. 2026-06-01
    days on market $114,900 Active 12 DOM
12. 2026-05-31
    days on market $114,900 Active 11 DOM
13. 2026-05-20
    listed $114,900 Active
14. 2004-06-02
    soldstatus $100,000
15. 2000-07-27
    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: $3,483 · $290/mo
• Projected year-2 tax: $3,483 · $290/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: $13,237
• − Mortgage interest: −$5,764
• − Property taxes: −$3,483
• − Insurance: −$514
• − Repairs & maintenance: −$1,059
• − Management: −$1,059
• − Depreciation: −$2,993
• Taxable loss: −$1,636
• Est. tax savings @ 24.0%: +$393
• After-tax cash flow: $377/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: Alton CUSD 11
• NCES district ID: 1703600
• Math proficiency: 12% ▼ -10.00%
• Reading proficiency: 13% ▼ -10.00%
• Median HH income: $46,257
• Composite: 11.34/100
• National rank: #9710
• State rank: #544 of 620 in IL

Livability — Alton

• Score: 64/100
• State rank: #701
• US rank: #14289

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Alton, IL
• County: Madison County · 189,064 people
• City population: 29,543
• Metro: St. Louis, MO-IL
• Population (ZIP): 29,543
• Household income: $61,414
• Rent vs Own: 34.3% rent · 65.7% own
• Severe rent burden: 960.0

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 (71%)
• Race & ethnicity: White 71% Black 20% Two or more races 6% Hispanic / Latino 2% Asian 1%
• Common ancestry: Romanian 2% Lithuanian 2% Slovak 1%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Spanish 1% Other Indo-European 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: ▼ -98.43%
• Current HPI: 194.7313
• Rent YoY: ▲ 8.24%
• 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

+202.4% since first listed

3 events — show timeline

• 2026-05-20 Listed $114,900 MARIS as Distributed by MLS Grid
• 2004-06-02 Sold (Public Records) $100,000 Public Records
• 2000-07-27 Sold (Public Records) $38,000 Public Records

Property tax history

+4.3%/yr

Latest (2024): $3,483 · +6.4% YoY. Source: county tax records.