821 Alby St · Alton, IL 62002

$149,500

6 bd · 1.0 ba · 1,720 sqft · MultiFamily public records · 70 Days on market

Built 1891 9,600 sqft lot $87/sqft · 104% above area Est $139k · 7% over

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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 +29.5/30.0
• DSCR +10.0/10.0
• 1% rule +9.0/10.0
• Rent growth +4.6/5.0
• ARV discount +4.2/15.0
• Livability +3.2/5.0
• Condition / age +2.5/5.0
• Schools +1.1/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

Solid investment opportunity with this fully occupied duplex generating steady cash flow. The first unit offers 2 bedrooms and 1 bathroom, currently rented at $1,150 per month. The second unit features 3 bedrooms and 2 bathrooms, recently remodeled with updated finishes and modern appeal, previously bringing in $1,100 per month. Rent hack while you live in one unit and rent the other, making this a turnkey addition to your rental portfolio. Whether you're a seasoned investor or just getting started, this income-producing property is ready to work for you. Cash flow right away with this property!

Key facts

• 9,600 sq ft lot
• Built 1891
• Listed 70 days

What this means for you Summary

Snapshot

• This is a 1×2bd/1.5ba + 1×3bd/2ba units multifamily listed at $150k.

Deal economics

• At list price, monthly cash flow is $533 ($6k/yr) — positive. Per door: $266/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $150k).
• Recommended offer: $141k (6.0% below list) — sets the bar for market timing.
• Cap rate 10.6% vs local median 6.4% in Alton — 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 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-, schools F, crime F.
• 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.
• Market conditions: Rents rising fast (+8.2%/yr); 169 active listings in the ZIP; 336 units permitted in Madison County in 2024 (0 in 5+ unit buildings).
• This rent runs 41% of the median local income ($61k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k 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.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $42k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 70 days — a 6% lower offer ($141k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 19y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $95k; list at $150k implies a 57% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1891 — 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 $140,530 (6.0% below list)

Questions for the listing agent

1. It's been on market 70 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1891 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. 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.
10. 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.
11. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.40% ✓
• Cap rate: 10.57%
• Cash-on-cash: 15.27%
• DSCR: 1.68
• GRM: 5.9

CMA / ARV

• ARV (median comp): $139,153
• List price: $149,500
• Delta: 7.44%
• Verdict: FAIR
• Comps: 11 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 11.8%
• Equity multiple: 1.50×
• Total profit: $20,852
• Equity at exit: $22,291

10-year hold

• IRR: 24.6%
• Equity multiple: 3.69×
• Total profit: $112,578
• Equity at exit: $12,926

Cash invested: $41,860 (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: 12.6×

Monthly cashflow live

• Estimated rent: $2,095 medium
• Mortgage (P&I): −$784
• Tax from tax record: −$276 /mo · $3,314/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$440
• Net cashflow: $533

Break-even live

Break-even rent $1,421

Max offer price $149,500

Occupancy floor 70%

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
1× unit	2	1.5	$986
1× unit	3	2	$1,109
Total (2 units)			$2,095

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: $37,375
• Closing costs: $4,485
• Reserves months: —
• Total cash needed: —

Listing history 31 events

1. 2026-06-18
   days on market $149,500 Active 70 DOM
2. 2026-06-17
   days on market $149,500 Active 69 DOM
3. 2026-06-16
   days on market $149,500 Active 68 DOM
4. 2026-06-15
   days on market $149,500 Active 67 DOM
5. 2026-06-13
   days on market $149,500 Active 65 DOM
6. 2026-06-09
   days on market $149,500 Active 61 DOM
7. 2026-06-08
   days on market $149,500 Active 60 DOM
8. 2026-06-07
   remarks 603-char remark
9. 2026-06-07
   statusdays on market $149,500 Active 59 DOM
10. 2026-06-03
    days on market $149,500 Active Under Contract 55 DOM
11. 2026-06-02
    days on market $149,500 Active Under Contract 54 DOM
12. 2026-06-01
    days on market $149,500 Active Under Contract 53 DOM
13. 2026-05-31
    days on market $149,500 Active Under Contract 52 DOM
14. 2026-05-07
    historical Active Under Contract 602-char remark

    Show marketing remark (602 chars)

    Solid investment opportunity with this fully occupied duplex generating steady cash flow. The first unit offers 2 bedrooms and 1 bathroom, currently rented at $1,150 per month. The second unit features 3 bedrooms and 2 bathrooms, recently remodeled with updated finishes and modern appeal, previously bringing in $1,100 per month. Rent hack while you live in one unit and rent the other, making this a turnkey addition to your rental portfolio. Whether you're a seasoned investor or just getting started, this income-producing property is ready to work for you. Cash flow right away with this property!

15. 2026-04-09
    listed $149,500 Active 602-char remark

    Show marketing remark (602 chars)

    Solid investment opportunity with this fully occupied duplex generating steady cash flow. The first unit offers 2 bedrooms and 1 bathroom, currently rented at $1,150 per month. The second unit features 3 bedrooms and 2 bathrooms, recently remodeled with updated finishes and modern appeal, previously bringing in $1,100 per month. Rent hack while you live in one unit and rent the other, making this a turnkey addition to your rental portfolio. Whether you're a seasoned investor or just getting started, this income-producing property is ready to work for you. Cash flow right away with this property!

16. 2025-10-20
    price $149,000
17. 2025-09-30
    price $164,000
18. 2025-08-06
    listed $169,000 Active
19. 2024-03-07
    soldstatus Closed
20. 2024-03-07
    soldstatus $95,000
21. 2024-02-12
    historical Active Under Contract
22. 2024-01-29
    status Active
23. 2024-01-27
    historical
24. 2024-01-03
    status Active
25. 2023-12-18
    historical Active Under Contract
26. 2023-12-12
    status Active
27. 2023-11-06
    historical Active Under Contract
28. 2023-09-14
    price $105,900
29. 2023-07-29
    listed $117,900 Active
30. 2014-10-08
    soldstatus
31. 2007-10-24
    listed $49,900

ⓘ 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: $3,314 · $276/mo
• Projected year-2 tax: $3,354 · $279/mo
• Expected delta: +$40/yr (+$3/mo · 1.2%)

ⓘ 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: $25,140
• − Mortgage interest: −$8,374
• − Property taxes: −$3,314
• − Insurance: −$748
• − Repairs & maintenance: −$2,011
• − Management: −$2,011
• − Depreciation: −$4,349
• Taxable income: $4,332
• Est. tax owed @ 24.0%: −$1,040
• After-tax cash flow: $5,351/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

+199.6% since first listed

18 events — show timeline

• 2026-05-07 Contingent — MARIS as Distributed by MLS Grid
• 2026-04-09 Listed $149,500 MARIS as Distributed by MLS Grid
• 2025-10-20 Price Changed $149,000 MARIS as Distributed by MLS Grid
• 2025-09-30 Price Changed $164,000 MARIS as Distributed by MLS Grid
• 2025-08-06 Listed $169,000 MARIS as Distributed by MLS Grid
• 2024-03-07 Sold (Public Records) $95,000 Public Records
• 2024-03-07 Sold (MLS) — MARIS as Distributed by MLS Grid
• 2024-02-12 Contingent — MARIS as Distributed by MLS Grid
• 2024-01-29 Relisted — MARIS as Distributed by MLS Grid
• 2024-01-27 Delisted — MARIS as Distributed by MLS Grid
• 2024-01-03 Relisted — MARIS as Distributed by MLS Grid
• 2023-12-18 Contingent — MARIS as Distributed by MLS Grid
• 2023-12-12 Relisted — MARIS as Distributed by MLS Grid
• 2023-11-06 Contingent — MARIS as Distributed by MLS Grid
• 2023-09-14 Price Changed $105,900 MARIS as Distributed by MLS Grid
• 2023-07-29 Listed $117,900 MARIS as Distributed by MLS Grid
• 2014-10-08 Sold (MLS) — MARIS as Distributed by MLS Grid
• 2007-10-24 Listed $49,900 MARIS as Distributed by MLS Grid

Property tax history

+4.4%/yr

Latest (2024): $3,314 · +6.4% YoY. Source: county tax records.