2560 State St · Granite City, IL 62040

$115,000

5 bd · 2.0 ba · 728 sqft · SingleFamily public records · 138 Days on market

Built 1920 4,791 sqft lot $158/sqft · 100% above area Est $123k · 6% 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 +26.1/30.0
• ARV discount +10.3/15.0
• DSCR +8.8/10.0
• 1% rule +7.6/10.0
• Livability +3.2/5.0
• Rent growth +2.9/5.0
• Condition / age +2.5/5.0
• Schools +0.9/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Income-producing property with a month-to-month tenant paying $1,050/month who wishes to stay and sign a new lease with the new owner. 4 bedrooms, 2 bathrooms with primary bedroom on the main level and three bedrooms upstairs. Unfinished basement with washer/dryer and great storage. Fenced yard and detached two-car garage. Appliances are tenant-owned.

Key facts

• Fenced yard
• Unfinished basement
• 4,791 sq ft lot

Tags

• PRIMARY BEDROOM ON MAIN LEVEL
• UNFINISHED BASEMENT
• FENCED YARD
• DETACHED TWO CAR GARAGE

What this means for you Summary

Snapshot

• This is a 5-bed/2.0-bath single-family listed at $115k.

Deal economics

• At list price, monthly cash flow is $289 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $115k).
• Recommended offer: $101k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.3% vs local median 6.9% in Granite City — 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 65/100 on livability (#623 in IL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: schools F, crime F, amenities F.
• Granite City CUSD 9 (suburban): math 9% / reading 11% proficiency, ranked #570 of 620 in IL (top 92%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: Rents rising (+1.7%/yr); 191 active listings in the ZIP; 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 $795 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 138 days — a 12% lower offer ($101k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $91k; 26% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1920 — 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 $101,200 (12.0% below list)

Questions for the listing agent

1. It's been on market 138 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 1920 — 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 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?
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: 1.26% ✓
• Cap rate: 9.31%
• Cash-on-cash: 10.77%
• DSCR: 1.48
• GRM: 6.6

CMA / ARV

• ARV (median comp): $122,533
• List price: $115,000
• Delta: -6.15%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 1.67% rent growth · sell at horizon

5-year hold

• IRR: -1.7%
• Equity multiple: 0.94×
• Total profit: $-2,082
• Equity at exit: $17,147

10-year hold

• IRR: 6.4%
• Equity multiple: 1.45×
• Total profit: $14,485
• Equity at exit: $9,943

Cash invested: $32,200 (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 62040

• Home prices YoY: -21.8%
• Rents YoY: 1.7%
• Active inventory: 191
• Price-to-rent: 6.6×

Monthly cashflow live

• Estimated rent: $1,449 medium
• Mortgage (P&I): −$603
• Tax from tax record: −$205 /mo · $2,459/yr
• Insurance: −$48
• HOA: −$0
• Vacancy / Maint / Mgmt: −$304
• Net cashflow: $289

Break-even live

Break-even rent $1,083

Max offer price $115,000

Occupancy floor 75%

Sensitivity live

Price	-10% $354	-5% $322	+0% $289	+5% $256	+10% $224
Rent	-10% $175	-5% $232	+0% $289	+5% $346	+10% $404
Rate	-1.0pp $347	-0.5pp $318	base $289	+0.5pp $259	+1.0pp $229

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: $28,750
• Closing costs: $3,450
• Reserves months: —
• Total cash needed: —

Listing history 20 events

1. 2026-06-21
   days on market $115,000 Active 138 DOM
2. 2026-06-18
   days on market $115,000 Active 135 DOM
3. 2026-06-17
   days on market $115,000 Active 134 DOM
4. 2026-06-16
   days on market $115,000 Active 133 DOM
5. 2026-06-15
   days on market $115,000 Active 132 DOM
6. 2026-06-13
   days on market $115,000 Active 130 DOM
7. 2026-06-13
   days on market $115,000 Active 129 DOM
8. 2026-06-09
   days on market $115,000 Active 126 DOM
9. 2026-06-08
   days on market $115,000 Active 125 DOM
10. 2026-06-07
    days on market $115,000 Active 124 DOM
11. 2026-06-05
    days on market $115,000 Active 121 DOM
12. 2026-06-03
    days on market $115,000 Active 120 DOM
13. 2026-06-02
    days on market $115,000 Active 119 DOM
14. 2026-06-01
    days on market $115,000 Active 118 DOM
15. 2026-05-31
    days on market $115,000 Active 117 DOM
16. 2026-04-15
    price $115,000 353-char remark

    Show marketing remark (353 chars)

    Income-producing property with a month-to-month tenant paying $1,050/month who wishes to stay and sign a new lease with the new owner. 4 bedrooms, 2 bathrooms with primary bedroom on the main level and three bedrooms upstairs. Unfinished basement with washer/dryer and great storage. Fenced yard and detached two-car garage. Appliances are tenant-owned.

17. 2026-02-03
    listed $130,000 Active 353-char remark

    Show marketing remark (353 chars)

    Income-producing property with a month-to-month tenant paying $1,050/month who wishes to stay and sign a new lease with the new owner. 4 bedrooms, 2 bathrooms with primary bedroom on the main level and three bedrooms upstairs. Unfinished basement with washer/dryer and great storage. Fenced yard and detached two-car garage. Appliances are tenant-owned.

18. 2011-12-05
    soldstatus $91,000
19. 2004-09-10
    soldstatus $84,000
20. 1998-06-08
    soldstatus $75,000

ⓘ 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: $2,459 · $205/mo
• Projected year-2 tax: $2,535 · $211/mo
• Expected delta: +$76/yr (+$6/mo · 3.1%)

ⓘ 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 ≥108°F today · 21 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,391
• − Mortgage interest: −$6,442
• − Property taxes: −$2,459
• − Insurance: −$575
• − Repairs & maintenance: −$1,391
• − Management: −$1,391
• − Depreciation: −$3,345
• Taxable income: $1,787
• Est. tax owed @ 24.0%: −$429
• After-tax cash flow: $3,039/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: Granite City CUSD 9
• NCES district ID: 1717280
• Math proficiency: 9% ▼ -4.00%
• Reading proficiency: 11% ▼ -7.00%
• Median HH income: $45,082
• Composite: 9.15/100
• National rank: #9864
• State rank: #570 of 620 in IL

Livability — Granite City

• Score: 65/100
• State rank: #623
• US rank: #12751

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Granite City, IL
• County: Madison County · 189,064 people
• City population: 40,404
• Metro: St. Louis, MO-IL
• Population (ZIP): 40,404
• Household income: $60,031
• Rent vs Own: 25.0% rent · 75.0% own
• Severe rent burden: 923.0

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 (76%)
• Race & ethnicity: White 76% Hispanic / Latino 9% Black 9% Two or more races 7% Asian 1%
• Hispanic origin (detail): Mexican 7%
• Common ancestry: Romanian 2% Lithuanian 2% Serbian 2%
• Foreign-born: 3% · Canada, Vietnam
• Languages at home: 93% English-only · Spanish 5%

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: ▼ -56.88%
• Current HPI: 204.4612
• Rent YoY: ▲ 1.67%
• 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

+53.3% since first listed

5 events — show timeline

• 2026-04-15 Price Changed $115,000 MARIS as Distributed by MLS Grid
• 2026-02-03 Listed $130,000 MARIS as Distributed by MLS Grid
• 2011-12-05 Sold (Public Records) $91,000 Public Records
• 2004-09-10 Sold (Public Records) $84,000 Public Records
• 1998-06-08 Sold (Public Records) $75,000 Public Records

Property tax history

+2.3%/yr

Latest (2024): $2,459 · +1.5% YoY. Source: county tax records.