524 E 7th St · Alton, IL 62002

$102,500

4 bd · 2.0 ba · 1,249 sqft · SingleFamily public records · 232 Days on market

Built 1900 7,200 sqft lot $82/sqft · 8% below area

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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 +27.7/30.0
• DSCR +9.8/10.0
• 1% rule +9.5/10.0
• ARV discount +7.5/15.0
• 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

This Alton gem has the stunning woodwork and architectural bones longing to be restored to its prominence in this historic district. Full of character, featuring original wood floors, custom built-ins, and inviting living spaces. Endless possibilities await to revive a cozy living room with a fireplace, an elegant dining area, and a kitchen with a walk-in pantry and access to a covered back porch. Relax or entertain on the wraparound porch, or retreat to one of five upstairs bedrooms, including a private balcony. Additional attic space offers plenty of storage. Just steps away from Dukes Bakery and moments away from the quaint restaurants, shops and riverfront that make Alton home. The roof, soffit and fascia are new as of 2022. Schedule your appointment to take in all this home has to offer. Sold AS-IS. Seller will do no repairs. Seller will not provide occupancy permit.

Key facts

• Private balcony
• Original wood floors
• Custom built-ins

Tags

• ORIGINAL WOOD FLOORS
• CUSTOM BUILT-INS
• WALK-IN PANTRY
• COVERED BACK PORCH
• WRAPAROUND PORCH
• PRIVATE BALCONY

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $102k.

Deal economics

• At list price, monthly cash flow is $310 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $102k).
• Recommended offer: $90k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.9% vs local median 6.4% in Alton — 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 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; 1 comparable units currently listed for rent nearby; 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 $709 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.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $29k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 232 days — a 12% lower offer ($90k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 9y ago; this cycle's ask has dropped $8k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $50k; list at $102k implies a 105% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 3.3% of price; built in 1900 — 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 $90,200 (12.0% below list)

Questions for the listing agent

1. It's been on market 232 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 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 1.45% ✓
• Cap rate: 9.92%
• Cash-on-cash: 12.96%
• DSCR: 1.58
• GRM: 5.7

CMA / ARV

• ARV (median comp): $216,842
• List price: $102,500
• Delta: -52.73%
• 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
406 E 10th St	0.20mi	3/1.0 (-1)	1,200 (-4%)	11mo	$165,000	$138	66
1403 Liberty St	0.44mi	4/2.0	1,419 (+14%)	1mo	$229,900	$162	56
1215 E 6th St	0.58mi	4/1.0	1,215 (-3%)	11mo	$40,000	$33	55
1205 E 4th St	0.67mi	4/2.0	1,148 (-8%)	3mo	$129,900	$113	53
1213 Diamond St	0.44mi	3/1.0 (-1)	1,115 (-11%)	1mo	$34,900	$31	52
410 Cherry St	0.55mi	3/1.0 (-1)	1,350 (+8%)	4mo	$39,900	$30	48
1228 Alton St	0.38mi	3/1.5 (-1)	1,410 (+13%)	10mo	$180,000	$128	46
810 Grove St	0.71mi	4/2.5	1,386 (+11%)	3mo	$263,000	$190	44
1127 Putnam St	0.60mi	3/1.0 (-1)	1,120 (-10%)	4mo	$39,900	$36	43
707 Silver St	0.59mi	3/1.0 (-1)	1,100 (-12%)	5mo	$77,500	$70	40
1112 W 9th St	0.75mi	3/1.0 (-1)	1,134 (-9%)	3mo	$75,000	$66	38
1130 Putnam St	0.62mi	3/1.0 (-1)	1,099 (-12%)	11mo	$77,500	$71	33

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: 9.2%
• Equity multiple: 1.39×
• Total profit: $11,106
• Equity at exit: $15,283

10-year hold

• IRR: 22.7%
• Equity multiple: 3.49×
• Total profit: $71,324
• Equity at exit: $8,862

Cash invested: $28,700 (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: 5.7×

Monthly cashflow live

• Estimated rent: $1,486 medium
• Mortgage (P&I): −$538
• Tax from tax record: −$284 /mo · $3,408/yr
• Insurance: −$43
• HOA: −$0
• Vacancy / Maint / Mgmt: −$312
• Net cashflow: $310

Break-even live

Break-even rent $1,094

Max offer price $102,500

Occupancy floor 74%

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: $25,625
• Closing costs: $3,075
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2222 Brown St Alton, IL	4.0	2.0	1025	$1,050	$1.02	8d	1	1.36mi

Listing history 31 events

1. 2026-06-18
   days on market $102,500 Active 232 DOM
2. 2026-06-17
   days on market $102,500 Active 231 DOM
3. 2026-06-16
   days on market $102,500 Active 230 DOM
4. 2026-06-15
   days on market $102,500 Active 229 DOM
5. 2026-06-13
   days on market $102,500 Active 227 DOM
6. 2026-06-09
   days on market $102,500 Active 223 DOM
7. 2026-06-08
   days on market $102,500 Active 222 DOM
8. 2026-06-07
   days on market $102,500 Active 221 DOM
9. 2026-06-03
   days on market $102,500 Active 217 DOM
10. 2026-06-02
    days on market $102,500 Active 216 DOM
11. 2026-06-01
    days on market $102,500 Active 215 DOM
12. 2026-05-31
    days on market $102,500 Active 214 DOM
13. 2026-04-30
    price $102,500 885-char remark

    Show marketing remark (885 chars)

    This Alton gem has the stunning woodwork and architectural bones longing to be restored to its prominence in this historic district. Full of character, featuring original wood floors, custom built-ins, and inviting living spaces. Endless possibilities await to revive a cozy living room with a fireplace, an elegant dining area, and a kitchen with a walk-in pantry and access to a covered back porch. Relax or entertain on the wraparound porch, or retreat to one of five upstairs bedrooms, including a private balcony. Additional attic space offers plenty of storage. Just steps away from Dukes Bakery and moments away from the quaint restaurants, shops and riverfront that make Alton home. The roof, soffit and fascia are new as of 2022. Schedule your appointment to take in all this home has to offer. Sold AS-IS. Seller will do no repairs. Seller will not provide occupancy permit.

14. 2025-12-29
    price $104,900 885-char remark

    Show marketing remark (885 chars)

    This Alton gem has the stunning woodwork and architectural bones longing to be restored to its prominence in this historic district. Full of character, featuring original wood floors, custom built-ins, and inviting living spaces. Endless possibilities await to revive a cozy living room with a fireplace, an elegant dining area, and a kitchen with a walk-in pantry and access to a covered back porch. Relax or entertain on the wraparound porch, or retreat to one of five upstairs bedrooms, including a private balcony. Additional attic space offers plenty of storage. Just steps away from Dukes Bakery and moments away from the quaint restaurants, shops and riverfront that make Alton home. The roof, soffit and fascia are new as of 2022. Schedule your appointment to take in all this home has to offer. Sold AS-IS. Seller will do no repairs. Seller will not provide occupancy permit.

15. 2025-10-29
    listed $110,000 Active 885-char remark

    Show marketing remark (885 chars)

    This Alton gem has the stunning woodwork and architectural bones longing to be restored to its prominence in this historic district. Full of character, featuring original wood floors, custom built-ins, and inviting living spaces. Endless possibilities await to revive a cozy living room with a fireplace, an elegant dining area, and a kitchen with a walk-in pantry and access to a covered back porch. Relax or entertain on the wraparound porch, or retreat to one of five upstairs bedrooms, including a private balcony. Additional attic space offers plenty of storage. Just steps away from Dukes Bakery and moments away from the quaint restaurants, shops and riverfront that make Alton home. The roof, soffit and fascia are new as of 2022. Schedule your appointment to take in all this home has to offer. Sold AS-IS. Seller will do no repairs. Seller will not provide occupancy permit.

16. 2017-11-15
    soldstatus Closed 716-char remark

    Show marketing remark (716 chars)

    New owner needed! Whether you are an investor, or someone looking to renovate a home of your own, this historic Alton home has so much to offer a new owner! With original millwork, pocket doors, multiple staircases, and amazing built ins, this home could be restored to it's original glory and charm of yesteryear! Some of the many features include a wrap around front porch, fenced and private rear yard, small storage shed, off street parking, covered rear porch, 2nd story balcony, original hardwood floors, and more! And if space is what you're looking for, you will find that here...5 bedrooms is a rare find, and especially at this price! Don't wait, this one won't last long. Call today for a private showing!

17. 2017-10-18
    status Pending 716-char remark

    Show marketing remark (716 chars)

    New owner needed! Whether you are an investor, or someone looking to renovate a home of your own, this historic Alton home has so much to offer a new owner! With original millwork, pocket doors, multiple staircases, and amazing built ins, this home could be restored to it's original glory and charm of yesteryear! Some of the many features include a wrap around front porch, fenced and private rear yard, small storage shed, off street parking, covered rear porch, 2nd story balcony, original hardwood floors, and more! And if space is what you're looking for, you will find that here...5 bedrooms is a rare find, and especially at this price! Don't wait, this one won't last long. Call today for a private showing!

18. 2017-09-29
    listed $30,000 Active 716-char remark

    Show marketing remark (716 chars)

    New owner needed! Whether you are an investor, or someone looking to renovate a home of your own, this historic Alton home has so much to offer a new owner! With original millwork, pocket doors, multiple staircases, and amazing built ins, this home could be restored to it's original glory and charm of yesteryear! Some of the many features include a wrap around front porch, fenced and private rear yard, small storage shed, off street parking, covered rear porch, 2nd story balcony, original hardwood floors, and more! And if space is what you're looking for, you will find that here...5 bedrooms is a rare find, and especially at this price! Don't wait, this one won't last long. Call today for a private showing!

19. 2017-09-27
    historical $30,000 716-char remark

    Show marketing remark (716 chars)

    New owner needed! Whether you are an investor, or someone looking to renovate a home of your own, this historic Alton home has so much to offer a new owner! With original millwork, pocket doors, multiple staircases, and amazing built ins, this home could be restored to it's original glory and charm of yesteryear! Some of the many features include a wrap around front porch, fenced and private rear yard, small storage shed, off street parking, covered rear porch, 2nd story balcony, original hardwood floors, and more! And if space is what you're looking for, you will find that here...5 bedrooms is a rare find, and especially at this price! Don't wait, this one won't last long. Call today for a private showing!

20. 2017-09-22
    soldstatus Closed
21. 2017-09-11
    status Pending
22. 2017-08-11
    price $30,000
23. 2017-07-10
    price $35,000
24. 2017-06-07
    price $40,000
25. 2017-06-06
    status Active
26. 2017-04-26
    status Pending
27. 2017-04-21
    historical Option
28. 2017-04-19
    price $45,000
29. 2017-03-21
    price $50,000
30. 2017-02-20
    listed $55,000 Active
31. 1999-07-06
    soldstatus $50,000

ⓘ 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: $3,408 · $284/mo
• Projected year-2 tax: $3,408 · $284/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 ≥106°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 2 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,836
• − Mortgage interest: −$5,742
• − Property taxes: −$3,408
• − Insurance: −$512
• − Repairs & maintenance: −$1,427
• − Management: −$1,427
• − Depreciation: −$2,982
• Taxable income: $2,338
• Est. tax owed @ 24.0%: −$561
• After-tax cash flow: $3,159/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

+105.0% since first listed

19 events — show timeline

• 2026-04-30 Price Changed $102,500 MARIS as Distributed by MLS Grid
• 2025-12-29 Price Changed $104,900 MARIS as Distributed by MLS Grid
• 2025-10-29 Listed $110,000 MARIS as Distributed by MLS Grid
• 2017-11-15 Sold (MLS) — MARIS as Distributed by MLS Grid
• 2017-10-18 Pending — MARIS as Distributed by MLS Grid
• 2017-09-29 Listed $30,000 MARIS as Distributed by MLS Grid
• 2017-09-27 Coming Soon $30,000 MARIS as Distributed by MLS Grid
• 2017-09-22 Sold (MLS) — MARIS as Distributed by MLS Grid
• 2017-09-11 Pending — MARIS as Distributed by MLS Grid
• 2017-08-11 Price Changed $30,000 MARIS as Distributed by MLS Grid
• 2017-07-10 Price Changed $35,000 MARIS as Distributed by MLS Grid
• 2017-06-07 Price Changed $40,000 MARIS as Distributed by MLS Grid
• 2017-06-06 Relisted — MARIS as Distributed by MLS Grid
• 2017-04-26 Pending — MARIS as Distributed by MLS Grid
• 2017-04-21 Contingent — MARIS as Distributed by MLS Grid
• 2017-04-19 Price Changed $45,000 MARIS as Distributed by MLS Grid
• 2017-03-21 Price Changed $50,000 MARIS as Distributed by MLS Grid
• 2017-02-20 Listed $55,000 MARIS as Distributed by MLS Grid
• 1999-07-06 Sold (Public Records) $50,000 Public Records

Property tax history

+4.4%/yr

Latest (2024): $3,408 · +6.4% YoY. Source: county tax records.