215 Summit Ave · Glen Carbon, IL 62034

$105,000

2 bd · 1.0 ba · 972 sqft · SingleFamily public records · 602 Days on market

Built 1900 10,454 sqft lot $108/sqft · 36% below area Est $163k · 36% under

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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 +25.3/30.0
• ARV discount +15.0/15.0
• DSCR +8.4/10.0
• 1% rule +6.0/10.0
• 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

Back on the Market! Ready to show. This two bedroom, one bathroom home is located near dining, shopping, and schools. Large yard provides ample space for a garage. Property backs to an alley for access in the front and rear of the property. Appliances present will stay. Plenty of bonus areas in the basement as well as plenty of storage. Property being sold As Is. No repairs will be made.

Key facts

• 0.24 acre lot
• Built 1900
• Listed 602 days

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $105k.

Deal economics

• At list price, monthly cash flow is $240 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $105k).
• Recommended offer: $92k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.0% 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 14% 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 $726 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 602 days — a 12% lower offer ($92k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 11y ago; this cycle's ask has dropped $20k (16%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $87k; 21% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1900 — 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 $92,400 (12.0% below list)

Questions for the listing agent

1. It's been on market 602 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1900 — 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 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?
6. 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.
7. 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.
8. 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: 1.10% ✓
• Cap rate: 9.03%
• Cash-on-cash: 9.78%
• DSCR: 1.44
• GRM: 7.6

CMA / ARV

• ARV (median comp): $163,158
• List price: $105,000
• Delta: -35.65%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
203 Summit Ave	0.05mi	3/1.0 (+1)	941 (-3%)	21mo	$189,000	$201	70
141 Center St	0.44mi	2/1.0	1,040 (+7%)	15mo	$210,000	$202	56
164 Spruce St	0.40mi	2/1.0	1,036 (+7%)	20mo	$179,900	$174	54

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: -1.6%
• Equity multiple: 0.94×
• Total profit: $-1,767
• Equity at exit: $15,656

10-year hold

• IRR: 8.1%
• Equity multiple: 1.61×
• Total profit: $18,059
• Equity at exit: $9,078

Cash invested: $29,400 (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: 7.6×

Monthly cashflow live

• Estimated rent: $1,159 medium
• Mortgage (P&I): −$551
• Tax from tax record: −$81 /mo · $977/yr
• Insurance: −$44
• HOA: −$0
• Vacancy / Maint / Mgmt: −$243
• Net cashflow: $240

Break-even live

Break-even rent $855

Max offer price $105,000

Occupancy floor 74%

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: $26,250
• Closing costs: $3,150
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
8 Coachlight Trailer Park Glen Carbon, IL	2.0	1.0	728	$1,000	$1.37	1d	1	0.29mi
152 Edwards St Unit 152-D Glen Carbon, IL	1.0	1.0	628	$1,025	$1.63	43d	1	0.69mi
135 Appletree Ln Glen Carbon, IL	3.0	1.0	925	$1,700	$1.84	10d	1	0.89mi

Listing history 33 events

1. 2026-06-18
   days on market $105,000 Active 602 DOM
2. 2026-06-17
   days on market $105,000 Active 601 DOM
3. 2026-06-16
   days on market $105,000 Active 600 DOM
4. 2026-06-15
   days on market $105,000 Active 599 DOM
5. 2026-06-13
   days on market $105,000 Active 597 DOM
6. 2026-06-09
   days on market $105,000 Active 593 DOM
7. 2026-06-08
   days on market $105,000 Active 592 DOM
8. 2026-06-07
   days on market $105,000 Active 591 DOM
9. 2026-06-05
   days on market $105,000 Active 588 DOM
10. 2026-06-03
    days on market $105,000 Active 587 DOM
11. 2026-06-02
    days on market $105,000 Active 586 DOM
12. 2026-06-01
    days on market $105,000 Active 585 DOM
13. 2026-05-31
    days on market $105,000 Active 584 DOM
14. 2026-03-17
    status Active 398-char remark

    Show marketing remark (398 chars)

    Back on the Market! Ready to show. This two bedroom, one bathroom home is located near dining, shopping, and schools. Large yard provides ample space for a garage. Property backs to an alley for access in the front and rear of the property. Appliances present will stay. Plenty of bonus areas in the basement as well as plenty of storage. Property being sold As Is. No repairs will be made.

15. 2026-03-17
    price $105,000 398-char remark

    Show marketing remark (398 chars)

    Back on the Market! Ready to show. This two bedroom, one bathroom home is located near dining, shopping, and schools. Large yard provides ample space for a garage. Property backs to an alley for access in the front and rear of the property. Appliances present will stay. Plenty of bonus areas in the basement as well as plenty of storage. Property being sold As Is. No repairs will be made.

16. 2025-09-15
    status Active 398-char remark

    Show marketing remark (398 chars)

    Back on the Market! Ready to show. This two bedroom, one bathroom home is located near dining, shopping, and schools. Large yard provides ample space for a garage. Property backs to an alley for access in the front and rear of the property. Appliances present will stay. Plenty of bonus areas in the basement as well as plenty of storage. Property being sold As Is. No repairs will be made.

17. 2025-06-02
    status Active 398-char remark

    Show marketing remark (398 chars)

    Back on the Market! Ready to show. This two bedroom, one bathroom home is located near dining, shopping, and schools. Large yard provides ample space for a garage. Property backs to an alley for access in the front and rear of the property. Appliances present will stay. Plenty of bonus areas in the basement as well as plenty of storage. Property being sold As Is. No repairs will be made.

18. 2025-05-20
    historical Active Under Contract 398-char remark

    Show marketing remark (398 chars)

    Back on the Market! Ready to show. This two bedroom, one bathroom home is located near dining, shopping, and schools. Large yard provides ample space for a garage. Property backs to an alley for access in the front and rear of the property. Appliances present will stay. Plenty of bonus areas in the basement as well as plenty of storage. Property being sold As Is. No repairs will be made.

19. 2025-02-04
    status Active 398-char remark

    Show marketing remark (398 chars)

    Back on the Market! Ready to show. This two bedroom, one bathroom home is located near dining, shopping, and schools. Large yard provides ample space for a garage. Property backs to an alley for access in the front and rear of the property. Appliances present will stay. Plenty of bonus areas in the basement as well as plenty of storage. Property being sold As Is. No repairs will be made.

20. 2025-01-21
    status Pending 398-char remark

    Show marketing remark (398 chars)

    Back on the Market! Ready to show. This two bedroom, one bathroom home is located near dining, shopping, and schools. Large yard provides ample space for a garage. Property backs to an alley for access in the front and rear of the property. Appliances present will stay. Plenty of bonus areas in the basement as well as plenty of storage. Property being sold As Is. No repairs will be made.

21. 2025-01-13
    price $115,000 398-char remark

    Show marketing remark (398 chars)

    Back on the Market! Ready to show. This two bedroom, one bathroom home is located near dining, shopping, and schools. Large yard provides ample space for a garage. Property backs to an alley for access in the front and rear of the property. Appliances present will stay. Plenty of bonus areas in the basement as well as plenty of storage. Property being sold As Is. No repairs will be made.

22. 2024-11-13
    status Active 398-char remark

    Show marketing remark (398 chars)

    Back on the Market! Ready to show. This two bedroom, one bathroom home is located near dining, shopping, and schools. Large yard provides ample space for a garage. Property backs to an alley for access in the front and rear of the property. Appliances present will stay. Plenty of bonus areas in the basement as well as plenty of storage. Property being sold As Is. No repairs will be made.

23. 2024-10-25
    historical Active Under Contract 398-char remark

    Show marketing remark (398 chars)

    Back on the Market! Ready to show. This two bedroom, one bathroom home is located near dining, shopping, and schools. Large yard provides ample space for a garage. Property backs to an alley for access in the front and rear of the property. Appliances present will stay. Plenty of bonus areas in the basement as well as plenty of storage. Property being sold As Is. No repairs will be made.

24. 2024-10-14
    price $119,000 398-char remark

    Show marketing remark (398 chars)

    Back on the Market! Ready to show. This two bedroom, one bathroom home is located near dining, shopping, and schools. Large yard provides ample space for a garage. Property backs to an alley for access in the front and rear of the property. Appliances present will stay. Plenty of bonus areas in the basement as well as plenty of storage. Property being sold As Is. No repairs will be made.

25. 2024-10-01
    status Active 398-char remark

    Show marketing remark (398 chars)

    Back on the Market! Ready to show. This two bedroom, one bathroom home is located near dining, shopping, and schools. Large yard provides ample space for a garage. Property backs to an alley for access in the front and rear of the property. Appliances present will stay. Plenty of bonus areas in the basement as well as plenty of storage. Property being sold As Is. No repairs will be made.

26. 2024-09-26
    status Pending 398-char remark

    Show marketing remark (398 chars)

    Back on the Market! Ready to show. This two bedroom, one bathroom home is located near dining, shopping, and schools. Large yard provides ample space for a garage. Property backs to an alley for access in the front and rear of the property. Appliances present will stay. Plenty of bonus areas in the basement as well as plenty of storage. Property being sold As Is. No repairs will be made.

27. 2024-09-17
    price $122,500 398-char remark

    Show marketing remark (398 chars)

    Back on the Market! Ready to show. This two bedroom, one bathroom home is located near dining, shopping, and schools. Large yard provides ample space for a garage. Property backs to an alley for access in the front and rear of the property. Appliances present will stay. Plenty of bonus areas in the basement as well as plenty of storage. Property being sold As Is. No repairs will be made.

28. 2024-09-05
    listed $125,000 Active 398-char remark

    Show marketing remark (398 chars)

    Back on the Market! Ready to show. This two bedroom, one bathroom home is located near dining, shopping, and schools. Large yard provides ample space for a garage. Property backs to an alley for access in the front and rear of the property. Appliances present will stay. Plenty of bonus areas in the basement as well as plenty of storage. Property being sold As Is. No repairs will be made.

29. 2024-09-02
    historical $125,000 398-char remark

    Show marketing remark (398 chars)

    Back on the Market! Ready to show. This two bedroom, one bathroom home is located near dining, shopping, and schools. Large yard provides ample space for a garage. Property backs to an alley for access in the front and rear of the property. Appliances present will stay. Plenty of bonus areas in the basement as well as plenty of storage. Property being sold As Is. No repairs will be made.

30. 2015-09-22
    soldstatus $87,000
31. 2015-06-11
    soldstatus 240-char remark

    Show marketing remark (240 chars)

    Nice size rooms. Basement has additional rooms but not finished. Large lot. Home being sold "AS IS". Water heater is missing so and gas won't be activated. Seller will make no repairs. Items left in the home will stay in the home.

32. 2015-03-26
    listed $49,000 240-char remark

    Show marketing remark (240 chars)

    Nice size rooms. Basement has additional rooms but not finished. Large lot. Home being sold "AS IS". Water heater is missing so and gas won't be activated. Seller will make no repairs. Items left in the home will stay in the home.

33. 1996-05-20
    soldstatus $27,000

ⓘ 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: $977 · $81/mo
• Projected year-2 tax: $1,680 · $140/mo
• Expected delta: +$703/yr (+$59/mo · 72.0%)

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

Taxation est. · year 1

• Rental income: $13,905
• − Mortgage interest: −$5,882
• − Property taxes: −$977
• − Insurance: −$525
• − Repairs & maintenance: −$1,112
• − Management: −$1,112
• − Depreciation: −$3,055
• Taxable income: $1,242
• Est. tax owed @ 24.0%: −$298
• After-tax cash flow: $2,577/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

+288.9% since first listed

20 events — show timeline

• 2026-03-17 Relisted — MARIS as Distributed by MLS Grid
• 2026-03-17 Price Changed $105,000 MARIS as Distributed by MLS Grid
• 2025-09-15 Relisted — MARIS as Distributed by MLS Grid
• 2025-06-02 Relisted — MARIS as Distributed by MLS Grid
• 2025-05-20 Contingent — MARIS as Distributed by MLS Grid
• 2025-02-04 Relisted — MARIS as Distributed by MLS Grid
• 2025-01-21 Pending — MARIS as Distributed by MLS Grid
• 2025-01-13 Price Changed $115,000 MARIS as Distributed by MLS Grid
• 2024-11-13 Relisted — MARIS as Distributed by MLS Grid
• 2024-10-25 Contingent — MARIS as Distributed by MLS Grid
• 2024-10-14 Price Changed $119,000 MARIS as Distributed by MLS Grid
• 2024-10-01 Relisted — MARIS as Distributed by MLS Grid
• 2024-09-26 Pending — MARIS as Distributed by MLS Grid
• 2024-09-17 Price Changed $122,500 MARIS as Distributed by MLS Grid
• 2024-09-05 Listed $125,000 MARIS as Distributed by MLS Grid
• 2024-09-02 Coming Soon $125,000 MARIS as Distributed by MLS Grid
• 2015-09-22 Sold (Public Records) $87,000 Public Records
• 2015-06-11 Sold (MLS) — MARIS as Distributed by MLS Grid
• 2015-03-26 Listed $49,000 MARIS as Distributed by MLS Grid
• 1996-05-20 Sold (Public Records) $27,000 Public Records

Property tax history

+5.7%/yr

Latest (2024): $977 · +8.6% YoY. Source: county tax records.