724 Harbor Woods Dr Unit B · Fairview Heights, IL 62208

$179,999

2 bd · 2.0 ba · 1,050 sqft · SingleFamily · 4 Days on market

Built 2009 0.66 ac lot $190/mo HOA · 10% of rent

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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 +17.9/30.0
• ARV discount +7.5/15.0
• DSCR +5.6/10.0
• 1% rule +5.4/10.0
• Livability +3.8/5.0
• Schools +3.4/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Check out this main level condo in O'Fallon School District! 2 Bedrooms, 2 Full Bathrooms! OWN your own home for CHEAPER THAN RENT! Home has passed city inspection and is move-in ready! Washer/dryer stay with the home along with all kitchen appliances! Kitchen has a pantry & breakfast bar that open to the living & dining area. Master bedroom suite has a full bath, walk-in closet, and access to the deck, perfect for relaxing or barbecuing! Enjoy the convenience of main-floor living with the added bonus storage room and 1-car attached garage downstairs. Tons of parking, great location, clubhouse, subdivision pool, walking trails, & wide-open green spaces are just a few of the reasons you will love this property! Schedule your tour today!

Key facts

• $190 HOA
• Garage
• Community pool

Property features AI

Finance

• Other: Property listed as a condominium with 1,050 above-grade finished area (assessor)
• HOA & community: HOA present (Association Management); Monthly association fee of $190; HOA covers community amenities and other services

Exterior

• Parking: Attached garage with space for 1 car
• Utilities: Public water; Public sewer; Electric service provided by Ameren; Cable and electricity connected
• Home design: Attached condominium; One-level layout; Residential property
• Construction: Brick and vinyl siding exterior
• Exterior features: Cleared lot; Community pool; Access to a lake (association amenity)

Interior

• Bedrooms: 2 bedrooms on the main level
• Bathrooms: 2 full bathrooms on the main level
• Heating & cooling: Electric heating; Central air conditioning
• Interior features: Decorative electric fireplace in the living room; Central air

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $180k.

Deal economics

• At list price, monthly cash flow is $152 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $180k).
• Cap rate 7.3% vs local median 4.1% in Fairview Heights — 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 (#225 in IL, #4,180 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: schools D-, crime F, amenities F.
• O Fallon Twp Hsd 203 (suburban): math 32% / reading 40% proficiency, ranked #145 of 620 in IL (top 23%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 81 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals leasing fast (median 11d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 783 units permitted in St. Clair County in 2024 (378 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• St. Clair County population projected at -23% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 6y 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 $110k; list at $180k implies a 64% gain — meaningful room to come down on a strong offer.

Recommended offer $179,999

Questions for the listing agent

1. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are D-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: 1.04% ✓
• Cap rate: 7.31%
• Cash-on-cash: 3.63%
• DSCR: 1.16
• GRM: 8.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -10.6%
• Equity multiple: 0.62×
• Total profit: $-19,388
• Equity at exit: $26,838

10-year hold

• IRR: -1.2%
• Equity multiple: 0.92×
• Total profit: $-4,076
• Equity at exit: $15,563

Cash invested: $50,400 (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 62208

• Home prices YoY: -34.2%
• Active inventory: 81
• Price-to-rent: 8.0×

Monthly cashflow live

• Estimated rent: $1,868 medium
• Mortgage (P&I): −$944
• Tax from tax record: −$115 /mo · $1,375/yr
• Insurance: −$75
• HOA: −$190
• Vacancy / Maint / Mgmt: −$392
• Net cashflow: $152

Break-even live

Break-even rent $1,675

Max offer price $179,999

Occupancy floor 87%

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: $45,000
• Closing costs: $5,400
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
704 Harbor Woods Dr Unit C Fairview Heights, IL	2.0	2.0	1010	$1,950	$1.93	11d	1	0.04mi
708 Harbor Woods Dr Apt C Fairview Heights, IL	2.0	2.0	1010	$1,950	$1.93	15d	1	0.05mi
704 Harbor Woods Dr Fairview Heights, IL	2.0	2.0	1006	$1,950	$1.94	2d	1	0.05mi
863 Harbor Woods Dr Fairview Heights, IL	3.0	2.5	998	$2,550	$2.56	2d	1	0.15mi

HOA detail

• Monthly dues: $190 · $2,280/yr
• Likely covers: pool

Listing history 12 events

1. 2026-05-12
   status Pending
2. 2026-05-09
   listed $179,999 Active
3. 2026-05-05
   historical $179,999
4. 2020-12-03
   soldstatus $110,000
5. 2020-12-02
   soldstatus Closed 757-char remark

   Show marketing remark (757 chars)

   Check out this main level condo in O'Fallon School District! 2 Bedrooms, 2 Full Bathrooms! OWN your own home for CHEAPER THAN RENT! Home has passed city inspection and is move-in ready! Washer/dryer stay with the home along with all kitchen appliances! Kitchen has a pantry & breakfast bar that open to the living & dining area. Master bedroom suite has a full bath, walk-in closet, and access to the deck, perfect for relaxing or barbecuing! Enjoy the convenience of main-floor living with the added bonus storage room and 1-car attached garage downstairs. Tons of parking, great location, clubhouse, subdivision pool, walking trails, & wide-open green spaces are just a few of the reasons you will love this property! Schedule your tour today!

6. 2020-10-15
   listed Active Under Contract 757-char remark

   Show marketing remark (757 chars)

   Check out this main level condo in O'Fallon School District! 2 Bedrooms, 2 Full Bathrooms! OWN your own home for CHEAPER THAN RENT! Home has passed city inspection and is move-in ready! Washer/dryer stay with the home along with all kitchen appliances! Kitchen has a pantry & breakfast bar that open to the living & dining area. Master bedroom suite has a full bath, walk-in closet, and access to the deck, perfect for relaxing or barbecuing! Enjoy the convenience of main-floor living with the added bonus storage room and 1-car attached garage downstairs. Tons of parking, great location, clubhouse, subdivision pool, walking trails, & wide-open green spaces are just a few of the reasons you will love this property! Schedule your tour today!

7. 2020-10-15
   status Pending 757-char remark

   Show marketing remark (757 chars)

   Check out this main level condo in O'Fallon School District! 2 Bedrooms, 2 Full Bathrooms! OWN your own home for CHEAPER THAN RENT! Home has passed city inspection and is move-in ready! Washer/dryer stay with the home along with all kitchen appliances! Kitchen has a pantry & breakfast bar that open to the living & dining area. Master bedroom suite has a full bath, walk-in closet, and access to the deck, perfect for relaxing or barbecuing! Enjoy the convenience of main-floor living with the added bonus storage room and 1-car attached garage downstairs. Tons of parking, great location, clubhouse, subdivision pool, walking trails, & wide-open green spaces are just a few of the reasons you will love this property! Schedule your tour today!

8. 2020-10-14
   soldstatus Closed 757-char remark

   Show marketing remark (757 chars)

   Check out this main level condo in O'Fallon School District! 2 Bedrooms, 2 Full Bathrooms! OWN your own home for CHEAPER THAN RENT! Home has passed city inspection and is move-in ready! Washer/dryer stay with the home along with all kitchen appliances! Kitchen has a pantry & breakfast bar that open to the living & dining area. Master bedroom suite has a full bath, walk-in closet, and access to the deck, perfect for relaxing or barbecuing! Enjoy the convenience of main-floor living with the added bonus storage room and 1-car attached garage downstairs. Tons of parking, great location, clubhouse, subdivision pool, walking trails, & wide-open green spaces are just a few of the reasons you will love this property! Schedule your tour today!

9. 2020-10-13
   historical Active Under Contract 757-char remark

   Show marketing remark (757 chars)

   Check out this main level condo in O'Fallon School District! 2 Bedrooms, 2 Full Bathrooms! OWN your own home for CHEAPER THAN RENT! Home has passed city inspection and is move-in ready! Washer/dryer stay with the home along with all kitchen appliances! Kitchen has a pantry & breakfast bar that open to the living & dining area. Master bedroom suite has a full bath, walk-in closet, and access to the deck, perfect for relaxing or barbecuing! Enjoy the convenience of main-floor living with the added bonus storage room and 1-car attached garage downstairs. Tons of parking, great location, clubhouse, subdivision pool, walking trails, & wide-open green spaces are just a few of the reasons you will love this property! Schedule your tour today!

10. 2020-09-28
    price $109,900 757-char remark

    Show marketing remark (757 chars)

    Check out this main level condo in O'Fallon School District! 2 Bedrooms, 2 Full Bathrooms! OWN your own home for CHEAPER THAN RENT! Home has passed city inspection and is move-in ready! Washer/dryer stay with the home along with all kitchen appliances! Kitchen has a pantry & breakfast bar that open to the living & dining area. Master bedroom suite has a full bath, walk-in closet, and access to the deck, perfect for relaxing or barbecuing! Enjoy the convenience of main-floor living with the added bonus storage room and 1-car attached garage downstairs. Tons of parking, great location, clubhouse, subdivision pool, walking trails, & wide-open green spaces are just a few of the reasons you will love this property! Schedule your tour today!

11. 2020-08-13
    listed $112,900 Active 757-char remark

    Show marketing remark (757 chars)

    Check out this main level condo in O'Fallon School District! 2 Bedrooms, 2 Full Bathrooms! OWN your own home for CHEAPER THAN RENT! Home has passed city inspection and is move-in ready! Washer/dryer stay with the home along with all kitchen appliances! Kitchen has a pantry & breakfast bar that open to the living & dining area. Master bedroom suite has a full bath, walk-in closet, and access to the deck, perfect for relaxing or barbecuing! Enjoy the convenience of main-floor living with the added bonus storage room and 1-car attached garage downstairs. Tons of parking, great location, clubhouse, subdivision pool, walking trails, & wide-open green spaces are just a few of the reasons you will love this property! Schedule your tour today!

12. 2020-07-24
    historical $112,900 757-char remark

    Show marketing remark (757 chars)

    Check out this main level condo in O'Fallon School District! 2 Bedrooms, 2 Full Bathrooms! OWN your own home for CHEAPER THAN RENT! Home has passed city inspection and is move-in ready! Washer/dryer stay with the home along with all kitchen appliances! Kitchen has a pantry & breakfast bar that open to the living & dining area. Master bedroom suite has a full bath, walk-in closet, and access to the deck, perfect for relaxing or barbecuing! Enjoy the convenience of main-floor living with the added bonus storage room and 1-car attached garage downstairs. Tons of parking, great location, clubhouse, subdivision pool, walking trails, & wide-open green spaces are just a few of the reasons you will love this property! Schedule your tour today!

ⓘ 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: $1,375 · $115/mo
• Projected year-2 tax: $2,730 · $228/mo
• Expected delta: +$1,356/yr (+$113/mo · 98.6%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $22,417
• − Mortgage interest: −$10,083
• − Property taxes: −$1,375
• − Insurance: −$900
• − Repairs & maintenance: −$1,793
• − Management: −$1,793
• − HOA: −$2,280
• − Depreciation: −$5,236
• Taxable loss: −$1,043
• Est. tax savings @ 24.0%: +$250
• After-tax cash flow: $2,078/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: O Fallon Twp Hsd 203
• NCES district ID: 1729790
• Math proficiency: 32% ▼ -22.00%
• Reading proficiency: 40% ▼ -13.00%
• Median HH income: $82,945
• Composite: 34.3/100
• National rank: #5240
• State rank: #145 of 620 in IL

Livability — Fairview Heights

• Score: 75/100
• State rank: #225
• US rank: #4180

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Fairview Heights, IL
• County: Saint Clair County · 169,691 people
• City population: 16,821
• Metro: St. Louis, MO-IL
• Population (ZIP): 16,821
• Household income: $80,205
• Rent vs Own: 33.2% rent · 66.8% own
• Severe rent burden: 555.0

Population outlook (St. Clair County) Hauer SSP2

• Today (2025): 250,366 people
• By 2030: 240,511 · -3.9%
• By 2040: 217,391 · -13.2%
• By 2050: 192,699 · -23.0%
• By 2075: 140,637 · -43.8%
• By 2100: 100,499 · -59.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.64)
• Race & ethnicity: White 50% Black 33% Two or more races 11% Asian 3% Hispanic / Latino 3%
• Common ancestry: Lithuanian 2% Romanian 2% Slovak 2%
• Foreign-born: 4% · Canada, South Korea, Jamaica
• Languages at home: 96% English-only · Spanish 2% Arabic 1%

Political lean MEDSL · St. Clair

• 2024 margin: Lean D (+7.9) · D 53.0% · R 45.1% · Other 1.8%
• 2008→2024 swing: -14.6pp toward R · 2008: 22.4pp · 2024: 7.9pp
• All cycles: 2024: D+7.9 2020: D+8.7 2016: D+5.6 2012: D+14.5 2008: D+22.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -71.14%
• Current HPI: 136.8631
• 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

+59.4% since first listed

12 events — show timeline

• 2026-05-12 Pending — MARIS as Distributed by MLS Grid
• 2026-05-09 Listed $179,999 MARIS as Distributed by MLS Grid
• 2026-05-05 Coming Soon $179,999 MARIS as Distributed by MLS Grid
• 2020-12-03 Sold (Public Records) $110,000 Public Records
• 2020-12-02 Sold (MLS) — MARIS as Distributed by MLS Grid
• 2020-10-15 Listed — MARIS as Distributed by MLS Grid
• 2020-10-15 Pending — MARIS as Distributed by MLS Grid
• 2020-10-14 Sold (MLS) — MARIS as Distributed by MLS Grid
• 2020-10-13 Contingent — MARIS as Distributed by MLS Grid
• 2020-09-28 Price Changed $109,900 MARIS as Distributed by MLS Grid
• 2020-08-13 Listed $112,900 MARIS as Distributed by MLS Grid
• 2020-07-24 Coming Soon $112,900 MARIS as Distributed by MLS Grid

Property tax history

-0.3%/yr

Latest (2024): $1,375 · -5.0% YoY. Source: county tax records.