606 N Main St · Edwardsville, IL 62025

$180,000

4 bd · 1.0 ba · 2,184 sqft · SingleFamily public records · 158 Days on market

Built 1860 0.40 ac lot $82/sqft · 31% below area Est $262k · 31% 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 +29.0/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +9.0/10.0
• Livability +4.5/5.0
• Schools +3.5/10.0
• Condition / age +2.5/5.0
• Rent growth +1.7/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Opportunity awaits at 606 N Main Street in the heart of Edwardsville. This investor-friendly property offers a solid footprint and a convenient location near downtown amenities, schools, and local dining. The home is in need of repairs and updates, making it ideal for investors or buyers looking to renovate and add value. Sold in as-is condition. Bring your vision and explore the potential this property has to offer.

Key facts

• Convenient location
• Local dining
• 0.4 acre lot

Tags

• CONVENIENT LOCATION
• NEAR DOWNTOWN AMENITIES
• LOCAL DINING

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $180k.

Deal economics

• At list price, monthly cash flow is $617 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $180k).
• Recommended offer: $158k (12.0% below list) — sets the bar for market timing.
• Cap rate 10.4% vs local median 3.4% in Edwardsville — 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 90/100 on livability (#3 in IL, #83 nationally) — a professional / high-income tenant draw. Strengths: crime A+, amenities A+, commute A+.
• 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: Rents falling (-3.4%/yr); 204 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 67% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 336 units permitted in Madison County in 2024 (0 in 5+ unit buildings).
• This rent runs 30% of the median local income ($101k/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 $5k 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 158 days — a 12% lower offer ($158k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 11y 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 $135k; 33% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1860 — 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 $158,400 (12.0% below list)

Questions for the listing agent

1. It's been on market 158 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 1860 — 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 A-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: 1.40% ✓
• Cap rate: 10.41%
• Cash-on-cash: 14.69%
• DSCR: 1.65
• GRM: 5.9

CMA / ARV

• ARV (median comp): $261,984
• List price: $180,000
• Delta: -31.29%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
620 N Buchanan St	0.40mi	3/2.0 (-1)	2,226 (+2%)	3mo	$300,000	$135	67
215 Clay St	0.26mi	4/2.5	1,924 (-12%)	3mo	$335,000	$174	60
148 E Dunn St	0.10mi	3/2.0 (-1)	1,935 (-11%)	9mo	$245,000	$127	60
223 N Kansas St	0.30mi	3/2.5 (-1)	2,040 (-7%)	11mo	$365,000	$179	55
729 Randle St	0.39mi	4/3.0	2,044 (-6%)	12mo	$349,000	$171	54
201 Banner St	0.70mi	4/2.5	2,232 (+2%)	11mo	$450,000	$202	48
1102 Grand Ave	0.64mi	4/2.0	2,334 (+7%)	10mo	$225,000	$96	46
213 N Fillmore St	0.44mi	4/2.0	1,907 (-13%)	10mo	$259,900	$136	45
602 Hillsboro Ave	0.58mi	3/2.5 (-1)	2,390 (+9%)	4mo	$300,000	$126	42
1441 Eberhart Ave	0.62mi	3/2.0 (-1)	2,360 (+8%)	12mo	$185,000	$78	39
218 Monroe St	0.52mi	3/2.0 (-1)	1,916 (-12%)	11mo	$234,900	$123	37
654 Frederick St	0.68mi	3/3.0 (-1)	2,375 (+9%)	12mo	$340,000	$143	31

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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 1.5%
• Equity multiple: 1.06×
• Total profit: $2,847
• Equity at exit: $26,839

10-year hold

• IRR: 7.7%
• Equity multiple: 1.50×
• Total profit: $24,976
• 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 62025

• Home prices YoY: -22.2%
• Rents YoY: -3.4%
• Active inventory: 204
• Price-to-rent: 5.9×

Monthly cashflow live

• Estimated rent: $2,524 medium
• Mortgage (P&I): −$944
• Tax from tax record: −$358 /mo · $4,297/yr
• Insurance: −$75
• HOA: −$0
• Vacancy / Maint / Mgmt: −$530
• Net cashflow: $617

Break-even live

Break-even rent $1,743

Max offer price $180,000

Occupancy floor 71%

Sensitivity live

Price	-10% $719	-5% $668	+0% $617	+5% $566	+10% $515
Rent	-10% $418	-5% $517	+0% $617	+5% $717	+10% $816
Rate	-1.0pp $708	-0.5pp $663	base $617	+0.5pp $570	+1.0pp $523

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 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
652 N Kansas St Edwardsville, IL	3.0	3.0	2002	$3,000	$1.50	45d	1	0.23mi
911 Grand Ave Edwardsville, IL	4.0	3.0	2700	$2,600	$0.96	45d	1	0.45mi
210 Garden St Edwardsville, IL	3.0	2.0	1500	$1,725	$1.15	13d	1	0.54mi

Listing history 19 events

1. 2026-06-21
   days on market $180,000 Active 158 DOM
2. 2026-06-18
   days on market $180,000 Active 155 DOM
3. 2026-06-17
   days on market $180,000 Active 154 DOM
4. 2026-06-16
   days on market $180,000 Active 153 DOM
5. 2026-06-15
   days on market $180,000 Active 152 DOM
6. 2026-06-13
   days on market $180,000 Active 150 DOM
7. 2026-06-05
   days on market $180,000 Active 147 DOM
8. 2026-06-03
   days on market $180,000 Active 146 DOM
9. 2026-06-02
   days on market $180,000 Active 145 DOM
10. 2026-06-01
    days on market $180,000 Active 144 DOM
11. 2026-05-31
    days on market $180,000 Active 143 DOM
12. 2026-01-08
    listed $180,000 Active 420-char remark

    Show marketing remark (420 chars)

    Opportunity awaits at 606 N Main Street in the heart of Edwardsville. This investor-friendly property offers a solid footprint and a convenient location near downtown amenities, schools, and local dining. The home is in need of repairs and updates, making it ideal for investors or buyers looking to renovate and add value. Sold in as-is condition. Bring your vision and explore the potential this property has to offer.

13. 2024-10-01
    soldstatus $135,000
14. 2024-09-19
    soldstatus Closed 944-char remark

    Show marketing remark (944 chars)

    Multiple opportunities in this 2 story home on .4 ac on Main Street in downtown Edwardsville! Kitchen has been redone w/newer cabinets, countertops, lighting, and stainless appliances including gas range & range hood. Other updates include, central heat/air (radiant heat no longer in use), some windows, plumbing, electrical & roof (roof approx 6 years). Front office/living room w/built-in bookcases. Also on main floor is another living room & large dining room ready to finish! Bathroom is accessible from back porch - was closed off during kitchen renovation. Upstairs features three bedrooms, master w/walk-in closet & bath ready to be finished! Carport behind house. Basement has access from inside and cellar door walk-up also. This property is conveniently located on Main Street w/walking distance to shopping, schools and restaurants! The property is being sold AS-IS. The seller will not make any repairs.

15. 2024-08-12
    historical Active Under Contract 944-char remark

    Show marketing remark (944 chars)

    Multiple opportunities in this 2 story home on .4 ac on Main Street in downtown Edwardsville! Kitchen has been redone w/newer cabinets, countertops, lighting, and stainless appliances including gas range & range hood. Other updates include, central heat/air (radiant heat no longer in use), some windows, plumbing, electrical & roof (roof approx 6 years). Front office/living room w/built-in bookcases. Also on main floor is another living room & large dining room ready to finish! Bathroom is accessible from back porch - was closed off during kitchen renovation. Upstairs features three bedrooms, master w/walk-in closet & bath ready to be finished! Carport behind house. Basement has access from inside and cellar door walk-up also. This property is conveniently located on Main Street w/walking distance to shopping, schools and restaurants! The property is being sold AS-IS. The seller will not make any repairs.

16. 2024-07-29
    listed $169,000 Active 944-char remark

    Show marketing remark (944 chars)

    Multiple opportunities in this 2 story home on .4 ac on Main Street in downtown Edwardsville! Kitchen has been redone w/newer cabinets, countertops, lighting, and stainless appliances including gas range & range hood. Other updates include, central heat/air (radiant heat no longer in use), some windows, plumbing, electrical & roof (roof approx 6 years). Front office/living room w/built-in bookcases. Also on main floor is another living room & large dining room ready to finish! Bathroom is accessible from back porch - was closed off during kitchen renovation. Upstairs features three bedrooms, master w/walk-in closet & bath ready to be finished! Carport behind house. Basement has access from inside and cellar door walk-up also. This property is conveniently located on Main Street w/walking distance to shopping, schools and restaurants! The property is being sold AS-IS. The seller will not make any repairs.

17. 2015-03-13
    soldstatus $82,500
18. 2015-03-12
    soldstatus
19. 2015-01-28
    listed $99,900

ⓘ 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: $4,297 · $358/mo
• Projected year-2 tax: $4,297 · $358/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 · 20 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 · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $30,288
• − Mortgage interest: −$10,083
• − Property taxes: −$4,297
• − Insurance: −$900
• − Repairs & maintenance: −$2,423
• − Management: −$2,423
• − Depreciation: −$5,236
• Taxable income: $4,926
• Est. tax owed @ 24.0%: −$1,182
• After-tax cash flow: $6,221/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 — Edwardsville

• Score: 90/100
• State rank: #3
• US rank: #83

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Edwardsville, IL
• County: Madison County · 189,064 people
• City population: 35,520
• Metro: St. Louis, MO-IL
• Population (ZIP): 35,520
• Household income: $100,741
• Rent vs Own: 26.8% rent · 73.2% own
• Severe rent burden: 1027.0

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 (87%)
• Race & ethnicity: White 87% Black 5% Two or more races 4% Hispanic / Latino 3% Asian 2%
• Common ancestry: Romanian 2% Lithuanian 2% Slovak 2%
• Foreign-born: 3% · Canada, China
• Languages at home: 96% English-only · Spanish 2% 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: ▼ -70.36%
• Current HPI: 245.9787
• Rent YoY: ▼ -3.37%
• 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

+80.2% since first listed

8 events — show timeline

• 2026-01-08 Listed $180,000 MARIS as Distributed by MLS Grid
• 2024-10-01 Sold (Public Records) $135,000 Public Records
• 2024-09-19 Sold (MLS) — MARIS as Distributed by MLS Grid
• 2024-08-12 Contingent — MARIS as Distributed by MLS Grid
• 2024-07-29 Listed $169,000 MARIS as Distributed by MLS Grid
• 2015-03-13 Sold (Public Records) $82,500 Public Records
• 2015-03-12 Sold (MLS) — MARIS as Distributed by MLS Grid
• 2015-01-28 Listed $99,900 MARIS as Distributed by MLS Grid

Property tax history

+5.0%/yr

Latest (2024): $4,297 · +6.2% YoY. Source: county tax records.