2387 Alby St · Alton, IL 62002

$20,000

5 bd · 1.5 ba · 2,186 sqft · SingleFamily · 20 Days on market

Built 1902 0.40 ac lot

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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 +18.6/30.0
• ARV discount +7.5/15.0
• DSCR +5.8/10.0
• 1% rule +5.0/10.0
• Rent growth +4.6/5.0
• Livability +3.2/5.0
• Condition / age +2.5/5.0
• Schools +1.1/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Price listed is Starting Bid Only. Bidding starts closing 05/12/2026 @ 5pm Bring your personal touches and modern updates to this charming 5BR/2BA home situated on a spacious 0.40± acre lot just minutes from historic downtown Alton. Filled with timeless character and generous living space, this property offers excellent potential for an owner occupant or investor. The inviting front foyer leads into a large living room accented by French doors that open to a bright multi purpose room featuring oversized bay windows. A formal dining room with built in cabinetry provides both charm and convenience. The kitchen includes a cozy breakfast nook located near the laundry area with a half bathroom completing the square footage of the main level. A staircase, accessible from either the foyer or the kitchen, leads to the second floor where five bedrooms await, including a larger primary bedroom highlighted by its own bay windows. A full hallway bathroom serves all bedrooms on this level. The home also includes a full unfinished walk up basement with interior access, offering ample storage space and housing the home’s utilities. All utilities are available onsite; water is currently turned off and can be restored by the new owner. Outdoor features include a covered front porch shaded by mature trees and a second level balcony overlooking the expansive backyard. With its historic charm, spacious layout, and convenient location near shopping, dining, and entertainment, this property is ready to be transformed into something truly special. Property will sell under auction terms and be sold AS- IS, WHERE-IS. Seller, will not make any repairs as a result of any building, occupancy, or environmental inspections. Buyer will be required to sign an Auction Purchase & Sale Agreement if final bid is accepted by Sellers.

Key facts

• 0.4 acre lot
• Built 1902
• Listed 20 days

🔨 Auction listing. The $20,000 list price is a nominal opening bid, not a real ask — every metric below is computed on the estimated value $173,010 (ARV from comps), not the list price.

What this means for you Summary

Snapshot

• This is a 5-bed/1.5-bath single-family listed at $20k.

Deal economics

• At list price, monthly cash flow is $167 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $20k).
• Recommended offer: $20k (1.5% below list) — sets the bar for market timing.

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 34% 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 $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.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $48k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 20 days — a 2% lower offer ($20k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: property tax is 13.0% of price; built in 1902 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $19,700 (1.5% below list)

Questions for the listing agent

1. Built in 1902 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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?
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: 1.00% ✗
• Cap rate: 7.45%
• Cash-on-cash: 4.15%
• DSCR: 1.18
• GRM: 8.4

CMA / ARV

• ARV (median comp): $173,010
• List price: $20,000
• Delta: -88.44%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2387 Alby St	0.00mi	5/1.5	2,186 (0%)	0mo	$20,000	$9	100
416 Brentwood Blvd	0.37mi	5/2.5	2,175 (-0%)	16mo	$234,900	$108	65
2009 Hickory St	0.50mi	5/2.0	1,908 (-13%)	18mo	$165,000	$86	38
620 Oakwood Ave	0.66mi	4/2.0 (-1)	1,900 (-13%)	4mo	$148,900	$78	37
400 E 14th St	0.74mi	4/2.0 (-1)	1,933 (-12%)	23mo	$43,000	$22	20

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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: -4.3%
• Equity multiple: 0.83×
• Total profit: $-8,231
• Equity at exit: $25,796

10-year hold

• IRR: 10.4%
• Equity multiple: 1.99×
• Total profit: $48,164
• Equity at exit: $14,959

Cash invested: $48,443 (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: 1.0×

Monthly cashflow live

• Estimated rent: $1,725 medium
• Mortgage (P&I): −$907
• Tax est. 1.5%: −$216 /mo · $2,595/yr
• Insurance: −$72
• HOA: −$0
• Vacancy / Maint / Mgmt: −$362
• Net cashflow: $167

Break-even live

Break-even rent $1,513

Max offer price $173,010

Occupancy floor 85%

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: $43,253
• Closing costs: $5,190
• Reserves months: —
• Total cash needed: —

Listing history 3 events

1. 2026-05-13
   status Pending 1845-char remark

   Show marketing remark (1845 chars)

   Price listed is Starting Bid Only. Bidding starts closing 05/12/2026 @ 5pm Bring your personal touches and modern updates to this charming 5BR/2BA home situated on a spacious 0.40± acre lot just minutes from historic downtown Alton. Filled with timeless character and generous living space, this property offers excellent potential for an owner occupant or investor. The inviting front foyer leads into a large living room accented by French doors that open to a bright multi purpose room featuring oversized bay windows. A formal dining room with built in cabinetry provides both charm and convenience. The kitchen includes a cozy breakfast nook located near the laundry area with a half bathroom completing the square footage of the main level. A staircase, accessible from either the foyer or the kitchen, leads to the second floor where five bedrooms await, including a larger primary bedroom highlighted by its own bay windows. A full hallway bathroom serves all bedrooms on this level. The home also includes a full unfinished walk up basement with interior access, offering ample storage space and housing the home’s utilities. All utilities are available onsite; water is currently turned off and can be restored by the new owner. Outdoor features include a covered front porch shaded by mature trees and a second level balcony overlooking the expansive backyard. With its historic charm, spacious layout, and convenient location near shopping, dining, and entertainment, this property is ready to be transformed into something truly special. Property will sell under auction terms and be sold AS- IS, WHERE-IS. Seller, will not make any repairs as a result of any building, occupancy, or environmental inspections. Buyer will be required to sign an Auction Purchase & Sale Agreement if final bid is accepted by Sellers.

2. 2026-04-24
   listed $20,000 Active 1845-char remark

   Show marketing remark (1845 chars)

   Price listed is Starting Bid Only. Bidding starts closing 05/12/2026 @ 5pm Bring your personal touches and modern updates to this charming 5BR/2BA home situated on a spacious 0.40± acre lot just minutes from historic downtown Alton. Filled with timeless character and generous living space, this property offers excellent potential for an owner occupant or investor. The inviting front foyer leads into a large living room accented by French doors that open to a bright multi purpose room featuring oversized bay windows. A formal dining room with built in cabinetry provides both charm and convenience. The kitchen includes a cozy breakfast nook located near the laundry area with a half bathroom completing the square footage of the main level. A staircase, accessible from either the foyer or the kitchen, leads to the second floor where five bedrooms await, including a larger primary bedroom highlighted by its own bay windows. A full hallway bathroom serves all bedrooms on this level. The home also includes a full unfinished walk up basement with interior access, offering ample storage space and housing the home’s utilities. All utilities are available onsite; water is currently turned off and can be restored by the new owner. Outdoor features include a covered front porch shaded by mature trees and a second level balcony overlooking the expansive backyard. With its historic charm, spacious layout, and convenient location near shopping, dining, and entertainment, this property is ready to be transformed into something truly special. Property will sell under auction terms and be sold AS- IS, WHERE-IS. Seller, will not make any repairs as a result of any building, occupancy, or environmental inspections. Buyer will be required to sign an Auction Purchase & Sale Agreement if final bid is accepted by Sellers.

3. 2026-04-22
   historical $20,000 1845-char remark

   Show marketing remark (1845 chars)

   Price listed is Starting Bid Only. Bidding starts closing 05/12/2026 @ 5pm Bring your personal touches and modern updates to this charming 5BR/2BA home situated on a spacious 0.40± acre lot just minutes from historic downtown Alton. Filled with timeless character and generous living space, this property offers excellent potential for an owner occupant or investor. The inviting front foyer leads into a large living room accented by French doors that open to a bright multi purpose room featuring oversized bay windows. A formal dining room with built in cabinetry provides both charm and convenience. The kitchen includes a cozy breakfast nook located near the laundry area with a half bathroom completing the square footage of the main level. A staircase, accessible from either the foyer or the kitchen, leads to the second floor where five bedrooms await, including a larger primary bedroom highlighted by its own bay windows. A full hallway bathroom serves all bedrooms on this level. The home also includes a full unfinished walk up basement with interior access, offering ample storage space and housing the home’s utilities. All utilities are available onsite; water is currently turned off and can be restored by the new owner. Outdoor features include a covered front porch shaded by mature trees and a second level balcony overlooking the expansive backyard. With its historic charm, spacious layout, and convenient location near shopping, dining, and entertainment, this property is ready to be transformed into something truly special. Property will sell under auction terms and be sold AS- IS, WHERE-IS. Seller, will not make any repairs as a result of any building, occupancy, or environmental inspections. Buyer will be required to sign an Auction Purchase & Sale Agreement if final bid is accepted by Sellers.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥106°F today · 19 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: $20,704
• − Mortgage interest: −$9,691
• − Property taxes: −$2,595
• − Insurance: −$865
• − Repairs & maintenance: −$1,656
• − Management: −$1,656
• − Depreciation: −$5,033
• Taxable loss: −$793
• Est. tax savings @ 24.0%: +$190
• After-tax cash flow: $2,199/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

+0.0% since first listed

3 events — show timeline

• 2026-05-13 Pending — MARIS as Distributed by MLS Grid
• 2026-04-24 Listed $20,000 MARIS as Distributed by MLS Grid
• 2026-04-22 Coming Soon $20,000 MARIS as Distributed by MLS Grid

Property tax history

+21.4%/yr

Latest (2024): $2,517 · +772.6% YoY. Source: county tax records.