2421 Ohio Ave · Granite City, IL 62040

$80,000

2 bd · 1.0 ba · 845 sqft · SingleFamily public records · 18 Days on market

Built 1930 0.29 ac lot Est $69k · 15% 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 +23.2/30.0
• DSCR +7.4/10.0
• 1% rule +5.2/10.0
• Livability +3.2/5.0
• Rent growth +2.9/5.0
• Condition / age +2.5/5.0
• Schools +0.9/10.0
• ARV discount +0.5/15.0
• Appreciation +0.0/10.0

Listing remarks

Why rent when you can own this affordable 2-bedroom ranch on a huge fenced in lot. This is a great location to store that boat, extra trailer or work vehicle & equipment without the worry of an HOA to deal with. It's move in ready and with just a little more TLC, will make a perfect home or investment property. A new roof was just installed a few months ago (2026). Inviting covered front porch for lounging in the shade. Large living room. Eat in kitchen with ample cabinetry and counter tops, plus a double sink. The stove & refrigerator are included. Primary bedroom with plenty of space for a king-sized bed & accessories. The bathroom comes stocked with a stackable washer n

Key facts

• Double sink
• Huge fenced in lot
• Central air

Tags

• HUGE FENCED IN LOT
• INVITING COVERED FRONT PORCH
• DOUBLE SINK
• STACKABLE WASHER N DRYER UNIT
• VINYL DOUBLE PANE WINDOWS
• CENTRAL AIR

Property features AI

Exterior

• Parking: Parking for 6 vehicles total; Additional parking, driveway and off-street parking
• Utilities: Public water; Public sewer; Electric service (Ameren); Electricity and natural gas connected
• Home design: Single-family residence; One-story home; Private ownership
• Construction: Frame construction with vinyl siding; Architectural shingle roof; Slab foundation; Built date per public records
• Exterior features: Covered front porch; Fenced yard; Few trees; Level lot (approx. 100 x 125)

Interior

• Kitchen: Eat-in kitchen with electric oven and refrigerator (appliances included)
• Bedrooms: 2 bedrooms on the main level; rooms large enough for king-size bed in primary bedroom
• Bathrooms: 1 full bathroom (main level) with laundry area
• Heating & cooling: Forced-air heating; Central air conditioning
• Interior features: Double-pane windows; No basement
• Laundry & utility: Main-level laundry area; Washer and dryer included

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $80k.

Deal economics

• At list price, monthly cash flow is $144 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($814 rent vs $80k).
• Recommended offer: $79k (1.5% below list) — sets the bar for market timing.
• Cap rate 8.5% vs local median 7.0% in Granite City — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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: crime F, amenities F, commute 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.
• Zoned schools: Granite City High School (math 10% / reading 12%, grade F, #522 of 693 statewide, top 76%, 1,805 students, 0% FRL) — zoned schools average 0% FRL vs 59% district-wide (59 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: Rents rising (+1.7%/yr); 194 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals at typical pace (median 18d on market — plan ~3-4 weeks tenant-placement turnaround); 336 units permitted in Madison County in 2024 (0 in 5+ unit buildings).
• This rent is only 16% of the median local income ($60k/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 $553 of loan paydown is wiped out by about $2k 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 18 days — a 2% lower offer ($79k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $56k; 43% above their basis — modest negotiation headroom, anchor on the comps not their cost.

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 $78,800 (1.5% below list)

Questions for the listing agent

1. Built in 1930 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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?
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: 1.02% ✓
• Cap rate: 8.46%
• Cash-on-cash: 7.74%
• DSCR: 1.34
• GRM: 8.2

CMA / ARV

• ARV (on-the-fly): $69,290
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2228 Nevada Ave	0.15mi	2/1.0	850 (+1%)	10mo	$69,900	$82	83
2617 Cayuga St	0.37mi	2/1.0	816 (-3%)	2mo	$79,500	$97	75
2406 Missouri Ave. Ave	0.29mi	2/1.0	900 (+6%)	11mo	$85,000	$94	66
2117 Dewey Ave	0.32mi	2/1.0	784 (-7%)	8mo	$14,000	$18	66
2903 Roosevelt Ave	0.37mi	2/1.0	842 (-0%)	20mo	$38,000	$45	66
2107 Dewey Ave	0.34mi	2/1.0	824 (-2%)	18mo	$69,000	$84	65
2605 Cayuga St	0.35mi	2/1.0	864 (+2%)	19mo	$69,500	$80	65
2030 Illinois Ave	0.43mi	2/1.0	780 (-8%)	4mo	$25,000	$32	64
2915 Roosevelt Ave	0.41mi	2/1.0	912 (+8%)	11mo	$79,500	$87	59
2014 Bryan Ave	0.42mi	3/1.0 (+1)	940 (+11%)	9mo	$55,000	$59	50
2034 Adams St	0.71mi	2/1.0	884 (+5%)	21mo	$59,900	$68	41
2115 Missouri Ave	0.39mi	3/1.0 (+1)	956 (+13%)	22mo	$89,900	$94	37

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: -5.9%
• Equity multiple: 0.78×
• Total profit: $-4,862
• Equity at exit: $11,928

10-year hold

• IRR: 2.1%
• Equity multiple: 1.14×
• Total profit: $3,230
• Equity at exit: $6,917

Cash invested: $22,400 (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 62040

• Home prices YoY: -21.8%
• Rents YoY: 1.7%
• Active inventory: 194
• Price-to-rent: 8.2×

Monthly cashflow live

• Estimated rent: $814 high
• Mortgage (P&I): −$420
• Tax from tax record: −$46 /mo · $546/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$171
• Net cashflow: $144

Break-even live

Break-even rent $631

Max offer price $80,000

Occupancy floor 77%

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: $20,000
• Closing costs: $2,400
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2512 W 24th St Granite City, IL	1.0	1.0	650	$495	$0.76	23d	1	0.06mi
1215 22nd St Unit 1223 Granite City, IL	1.0	1.0	600	$550	$0.92	21d	1	0.92mi
1215 22nd St Unit 1227 Granite City, IL	1.0	1.0	600	$600	$1.00	43d	1	0.92mi
2556 Center St Granite City, IL	3.0	1.0	874	$1,500	$1.72	14d	1	0.97mi
2450 Cleveland Blvd Apt A Granite City, IL	2.0	1.0	846	$825	$0.98	17d	1	1.00mi
1709 Edison Ave Unit 1709 Granite City, IL	1.0	1.0	700	$800	$1.14	14d	1	1.07mi
2317 Grand Ave Granite City, IL	2.0	1.0	1124	$750	$0.67	7d	1	1.11mi
2715 Center St Unit B Granite City, IL	2.0	1.0	930	$1,275	$1.37	43d	1	1.17mi
2734 Center St Unit D Granite City, IL	1.0	1.0	680	$1,025	$1.51	12d	1	1.20mi

Listing history 14 events

1. 2026-06-18
   days on market $80,000 Active 18 DOM
2. 2026-06-17
   days on market $80,000 Active 17 DOM
3. 2026-06-16
   days on market $80,000 Active 16 DOM
4. 2026-06-15
   days on market $80,000 Active 15 DOM
5. 2026-06-13
   days on market $80,000 Active 13 DOM
6. 2026-06-13
   days on market $80,000 Active 12 DOM
7. 2026-06-09
   days on market $80,000 Active 9 DOM
8. 2026-06-08
   days on market $80,000 Active 8 DOM
9. 2026-06-07
   days on market $80,000 Active 7 DOM
10. 2026-06-05
    days on market $80,000 Active 4 DOM
11. 2026-06-03
    days on market $80,000 Active 3 DOM
12. 2026-06-02
    days on market $80,000 Active 2 DOM
13. 2026-06-01
    remarks 687-char remark
14. 2026-06-01
    listed $80,000 Active 1 DOM

ⓘ 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: $546 · $46/mo
• Projected year-2 tax: $1,181 · $98/mo
• Expected delta: +$635/yr (+$53/mo · 116.2%)

ⓘ 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 ≥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 5 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $9,764
• − Mortgage interest: −$4,481
• − Property taxes: −$546
• − Insurance: −$400
• − Repairs & maintenance: −$781
• − Management: −$781
• − Depreciation: −$2,327
• Taxable income: $447
• Est. tax owed @ 24.0%: −$107
• After-tax cash flow: $1,626/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

+42.9% since first listed

2 events — show timeline

• 2026-05-31 Listed $80,000 MARIS as Distributed by MLS Grid
• 2010-05-05 Sold (Public Records) $56,000 Public Records

Property tax history

+6.0%/yr

Latest (2024): $546 · +13.4% YoY. Source: county tax records.