112 Virginia St · East Alton, IL 62024

$85,000

3 bd · 1.0 ba · 970 sqft · SingleFamily public records · 87 Days on market

Built 1925 4,791 sqft lot Est $93k · 9% under

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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 +18.3/30.0
• ARV discount +11.4/15.0
• DSCR +5.7/10.0
• 1% rule +5.3/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.6/10.0
• Appreciation +0.0/10.0

Listing remarks

Property Zoned General Business and had mowing business operation prior. Newer architectural roof and siding and exterior sewer cleanout. 2 bedroom and 1 bath ranch home with full basement. Open floor plan with large living room and big kitchen with oak cabinets and 6ft breakfast bar. All appliances included. Dining room leads to deck and huge 33'x24 L shaped block patio. Privacy fenced yard. 10x9 storage shed stays. Seller providing Choice Home Warranty coverage for 13 months after sale. Seller will provide passed E. Alton Occupancy Permit. Lots of possibilities with this home at a great price of $85K. Don't miss this one!!

Key facts

• 4,791 sq ft lot
• Built 1925
• Listed 87 days

Property features AI

Finance

• Other: Home warranty provided; Lease not considered

Exterior

• Parking: Off-street and on-street parking; Additional parking with alley access; no garage
• Security: Carbon monoxide detector(s); Smoke detector(s)
• Utilities: Public water; Public sewer; Electric service by Ameren; Cable available, electricity connected, natural gas connected, phone available, water available, sewer connected
• Home design: Single-family residence; One level (one story); House structure; Updated/remodeled
• Construction: Vinyl siding; Architectural shingle roof; Concrete perimeter foundation; Built/recorded in public records (year source: public records)
• Exterior features: Deck, patio, and side porch; Private yard and courtyard; Partial wood fencing; Shed(s) on property; Landscaped, level corner lot with front and back yard

Interior

• Kitchen: Appliances included: dishwasher, microwave, free‑standing electric range, refrigerator; Six-foot breakfast bar
• Bedrooms: Two bedrooms, both on the main level (one with ceiling fan)
• Flooring: Carpet; Ceramic tile; Vinyl
• Bathrooms: One full bathroom on the main level
• Heating & cooling: Forced air heating; Central air conditioning; Electric cooling; Ceiling fans; Carbon monoxide and smoke detectors
• Interior features: Insulated and tilt-in windows; Ceiling fans in living room and at least one bedroom; Updated/remodeled condition; Basement (concrete, full)
• Laundry & utility: Laundry room in basement; Gas water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $85k.

Deal economics

• At list price, monthly cash flow is $77 ($926/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($872 rent vs $85k).
• Recommended offer: $80k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 69/100 on livability (#418 in IL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: commute D+, crime D, amenities F.
• East Alton-Wood River Chsd 14 (suburban): math 10% / reading 20% proficiency, ranked #793 of 919 in IL (top 86%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Eastwood Elem School (math 12% / reading 17%, grade F, #1,278 of 2,056 statewide, top 65%, 408 students, 0% FRL); East Alton Middle School (math 15% / reading 19%, grade F, #460 of 665 statewide, top 72%, 191 students, 0% FRL); East Alton-Wood River High Sch (math 8% / reading 12%, grade F, #567 of 693 statewide, top 83%, 537 students, 0% FRL).
• Market conditions: 38 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals leasing fast (median 6d 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 $588 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 87 days — a 6% lower offer ($80k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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 $54k; list at $85k implies a 57% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1925 — 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 $79,900 (6.0% below list)

Questions for the listing agent

1. It's been on market 87 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1925 — 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 D 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: 1.03% ✓
• Cap rate: 7.38%
• Cash-on-cash: 3.89%
• DSCR: 1.17
• GRM: 8.1

CMA / ARV

• ARV (on-the-fly): $93,120
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
812 Cherry St	0.22mi	2/1.0 (-1)	960 (-1%)	2mo	$74,900	$78	82
99 Bonds Ave	0.51mi	3/1.0	960 (-1%)	4mo	$82,400	$86	71
500 Stowell Ave	0.58mi	3/1.0	952 (-2%)	6mo	$135,000	$142	65
176 S Pence St	0.57mi	2/1.0 (-1)	996 (+3%)	4mo	$59,500	$60	60
108 Charlene St	0.45mi	3/1.0	864 (-11%)	2mo	$94,900	$110	59
236 Church St	0.44mi	2/1.0 (-1)	1,035 (+7%)	5mo	$99,900	$97	59
608 Milton Rd	0.57mi	2/1.0 (-1)	910 (-6%)	4mo	$87,000	$96	55
3861 Coronado Dr	0.71mi	3/2.0	952 (-2%)	6mo	$90,000	$95	54
3516 Omega St	0.61mi	4/2.0 (+1)	1,024 (+6%)	2mo	$120,000	$117	52
104 Irwin St	0.55mi	2/1.0 (-1)	864 (-11%)	8mo	$92,500	$107	44
615 Broadway	0.69mi	3/1.0	1,108 (+14%)	1mo	$56,000	$51	43
208 Goulding St	0.62mi	2/1.0 (-1)	1,098 (+13%)	9mo	$24,000	$22	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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -10.2%
• Equity multiple: 0.63×
• Total profit: $-8,831
• Equity at exit: $12,674

10-year hold

• IRR: -0.8%
• Equity multiple: 0.95×
• Total profit: $-1,248
• Equity at exit: $7,349

Cash invested: $23,800 (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 62024

• Home prices YoY: -18.8%
• Active inventory: 38
• Price-to-rent: 8.1×

Monthly cashflow live

• Estimated rent: $872 high
• Mortgage (P&I): −$446
• Tax from tax record: −$130 /mo · $1,564/yr
• Insurance: −$35
• HOA: −$0
• Vacancy / Maint / Mgmt: −$183
• Net cashflow: $77

Break-even live

Break-even rent $774

Max offer price $85,000

Occupancy floor 86%

Sensitivity live

Price	-10% $125	-5% $101	+0% $77	+5% $53	+10% $29
Rent	-10% $8	-5% $43	+0% $77	+5% $112	+10% $146
Rate	-1.0pp $120	-0.5pp $99	base $77	+0.5pp $55	+1.0pp $33

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: $21,250
• Closing costs: $2,550
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
140 Illinois St East Alton, IL	2.0	1.0	960	$695	$0.72	0d	1	0.07mi
123 Irwin St East Alton, IL	2.0	1.0	792	$1,225	$1.55	5d	1	0.51mi
176 S Pence St East Alton, IL	2.0	1.0	1000	$1,100	$1.10	0d	1	0.58mi
3400 Milton Dr Alton, IL	2.0	1.5	972	$1,350	$1.39	5d	1	0.78mi
120 Lakeside Ave East Alton, IL	2.0	1.0	700	$850	$1.21	12d	1	0.88mi
134 Lakeside Ave East Alton, IL	2.0	1.0	800	$775	$0.97	12d	1	0.88mi
121 Cardot St East Alton, IL	3.0	1.0	937	$1,200	$1.28	23d	1	1.06mi
3305 Franor St Alton, IL	2.0	1.0	1000	$549	$0.55	3d	1	1.16mi

Listing history 23 events

1. 2026-06-21
   days on market $85,000 Active 87 DOM
2. 2026-06-21
   days on market $85,000 Active 86 DOM
3. 2026-06-18
   days on market $85,000 Active 84 DOM
4. 2026-06-17
   days on market $85,000 Active 83 DOM
5. 2026-06-16
   days on market $85,000 Active 82 DOM
6. 2026-06-15
   days on market $85,000 Active 81 DOM
7. 2026-06-13
   days on market $85,000 Active 79 DOM
8. 2026-06-12
   days on market $85,000 Active 78 DOM
9. 2026-06-09
   days on market $85,000 Active 75 DOM
10. 2026-06-08
    days on market $85,000 Active 74 DOM
11. 2026-06-07
    days on market $85,000 Active 73 DOM
12. 2026-06-05
    days on market $85,000 Active 71 DOM
13. 2026-06-03
    days on market $85,000 Active 69 DOM
14. 2026-06-02
    days on market $85,000 Active 68 DOM
15. 2026-06-01
    days on market $85,000 Active 67 DOM
16. 2026-05-31
    days on market $85,000 Active 66 DOM
17. 2026-03-26
    listed $85,000 Active
18. 2026-01-22
    historical Active Under Contract
19. 2026-01-12
    listed $85,000 Active
20. 2026-01-12
    historical
21. 2011-04-06
    soldstatus $54,000
22. 1996-09-10
    soldstatus $48,000
23. 1996-02-22
    soldstatus $6,000

ⓘ 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: $1,564 · $130/mo
• Projected year-2 tax: $1,747 · $146/mo
• Expected delta: +$183/yr (+$15/mo · 11.7%)

ⓘ 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 6/10 Major 7 d/yr ≥106°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 2 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $10,460
• − Mortgage interest: −$4,761
• − Property taxes: −$1,564
• − Insurance: −$425
• − Repairs & maintenance: −$837
• − Management: −$837
• − Depreciation: −$2,473
• Taxable loss: −$436
• Est. tax savings @ 24.0%: +$105
• After-tax cash flow: $1,031/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: East Alton-Wood River Chsd 14
• NCES district ID: 1712990
• Math proficiency: 10% ▬ 0.00%
• Reading proficiency: 20% ▬ 0.00%
• Median HH income: $35,977
• Composite: 15.86/100
• National rank: #14315
• State rank: #793 of 919 in IL

Livability — East Alton

• Score: 69/100
• State rank: #418
• US rank: #8569

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: East Alton, IL
• City population: 9,465
• Population (ZIP): 9,465

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 (93%)
• Race & ethnicity: White 93% Two or more races 5% Hispanic / Latino 2% Black 1%
• Common ancestry: Lithuanian 4% Iranian 2% Italian 1%
• Foreign-born: 0%

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: ▼ -50.18%
• Current HPI: 216.1273
• Rent YoY: —
• Metro: —
• 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

+1316.7% since first listed

7 events — show timeline

• 2026-03-26 Listed $85,000 MARIS as Distributed by MLS Grid
• 2026-01-22 Contingent — MARIS as Distributed by MLS Grid
• 2026-01-12 Listed $85,000 MARIS as Distributed by MLS Grid
• 2026-01-12 Coming Soon — MARIS as Distributed by MLS Grid
• 2011-04-06 Sold (Public Records) $54,000 Public Records
• 1996-09-10 Sold (Public Records) $48,000 Public Records
• 1996-02-22 Sold (Public Records) $6,000 Public Records

Property tax history

-0.5%/yr

Latest (2024): $1,564 · +8.4% YoY. Source: county tax records.