2426 Grand Ave · Granite City, IL 62040

$79,900

3 bd · 2.0 ba · 780 sqft · SingleFamily public records · 270 Days on market

Built 1920 4,800 sqft lot $102/sqft · 10% below area Est $89k · 10% 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 +30.0/30.0
• ARV discount +12.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• 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

Welcome to this charming Granite City home located in a quiet, established neighborhood with easy access to schools, parks, shopping, and major highways. This property blends comfort, convenience, and value—perfect for a first-time buyer, downsizer, or investor. ? Property Highlights: Spacious Layout – Generously sized living area with natural light. Bedrooms & Bathrooms – Comfortable bedrooms with ample closet space. Functional kitchen layout with room for updates or personalization. Outdoor Space – Large yard ideal for gatherings, pets, or gardening. Convenient off-street parking/driveway. Full basement with laundry area and storage. Close to downtown Granite City, restaurants, and local shops. Quick commute to St. Louis and surrounding Metro East communities. Nearby schools, parks, and recreational amenities. Competitive pricing for the area—schedule your showing today!

Key facts

• Large yard
• Full basement
• Off-street parking

Tags

• QUIET ESTABLISHED NEIGHBORHOOD
• EASY ACCESS TO SCHOOLS
• LARGE YARD
• OFF-STREET PARKING
• FULL BASEMENT
• CLOSE TO DOWNTOWN

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $80k.

Deal economics

• At list price, monthly cash flow is $501 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $80k).
• Recommended offer: $70k (12.0% below list) — sets the bar for market timing.
• Cap rate 13.8% vs local median 7.0% 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; 6 comparable units currently listed for rent nearby; rentals at typical pace (median 16d on market — plan ~3-4 weeks tenant-placement turnaround); 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 $552 of loan paydown is wiped out by about $2k 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 + 1.7% rent growth), your $22k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 270 days — a 12% lower offer ($70k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $19k (19%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $28k; list at $80k implies a 191% gain — meaningful room to come down on a strong offer.

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 $70,312 (12.0% below list)

Questions for the listing agent

1. It's been on market 270 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: 1.55% ✓
• Cap rate: 13.81%
• Cash-on-cash: 26.86%
• DSCR: 2.19
• GRM: 5.4

CMA / ARV

• ARV (median comp): $88,685
• List price: $79,900
• Delta: -9.91%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2305 State St	0.22mi	2/1.0 (-1)	771 (-1%)	5mo	$52,900	$69	75
2205 E 24th St	0.25mi	3/1.0	736 (-6%)	5mo	$12,000	$16	70
2541 Washington Ave	0.22mi	2/1.0 (-1)	748 (-4%)	5mo	$10,000	$13	70
2621 Center St	0.54mi	2/1.0 (-1)	780 (0%)	5mo	$99,000	$127	61
2471 Center St	0.46mi	2/1.0 (-1)	810 (+4%)	3mo	$80,000	$99	61
2311 E 25th St	0.28mi	2/2.0 (-1)	896 (+15%)	2mo	$99,000	$110	56
2564 Benton St	0.38mi	3/1.0	870 (+12%)	6mo	$108,000	$124	54
2306 Benton St	0.37mi	2/1.5 (-1)	888 (+14%)	5mo	$107,000	$120	49
2807 Iowa St	0.61mi	2/1.0 (-1)	848 (+9%)	2mo	$69,500	$82	46
2442 Center St	0.43mi	2/1.5 (-1)	885 (+14%)	8mo	$119,900	$135	44
2729 Ralph St	0.58mi	2/1.0 (-1)	861 (+10%)	4mo	$79,900	$93	43
2800 Ralph St	0.61mi	2/1.5 (-1)	870 (+12%)	7mo	$100,000	$115	39

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 · 1.67% rent growth · sell at horizon

5-year hold

• IRR: 19.3%
• Equity multiple: 1.77×
• Total profit: $17,277
• Equity at exit: $11,913

10-year hold

• IRR: 26.7%
• Equity multiple: 3.21×
• Total profit: $49,456
• Equity at exit: $6,908

Cash invested: $22,372 (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: 5.4×

Monthly cashflow live

• Estimated rent: $1,240 high
• Mortgage (P&I): −$419
• Tax from tax record: −$27 /mo · $318/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$260
• Net cashflow: $501

Break-even live

Break-even rent $606

Max offer price $79,900

Occupancy floor 55%

Sensitivity live

Price	-10% $546	-5% $523	+0% $501	+5% $478	+10% $455
Rent	-10% $403	-5% $452	+0% $501	+5% $550	+10% $599
Rate	-1.0pp $541	-0.5pp $521	base $501	+0.5pp $480	+1.0pp $459

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: $19,975
• Closing costs: $2,397
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2317 Grand Ave Granite City, IL	2.0	1.0	1124	$750	$0.67	8d	1	0.18mi
2450 Cleveland Blvd Apt A Granite City, IL	2.0	1.0	846	$825	$0.98	18d	1	0.27mi
2415 Jerden Ave Granite City, IL	3.0	1.0	970	$1,400	$1.44	5d	1	0.39mi
2556 Center St Granite City, IL	3.0	1.0	874	$1,500	$1.72	15d	1	0.49mi
2715 Center St Unit B Granite City, IL	2.0	1.0	930	$1,275	$1.37	44d	1	0.72mi
303 Wilson Park Ln Granite City, IL	3.0	1.0	900	$1,200	$1.33	8d	1	1.17mi

Listing history 23 events

1. 2026-06-21
   days on market $79,900 Active 270 DOM
2. 2026-06-18
   days on market $79,900 Active 267 DOM
3. 2026-06-17
   days on market $79,900 Active 266 DOM
4. 2026-06-16
   days on market $79,900 Active 265 DOM
5. 2026-06-15
   days on market $79,900 Active 264 DOM
6. 2026-06-13
   days on market $79,900 Active 262 DOM
7. 2026-06-13
   days on market $79,900 Active 261 DOM
8. 2026-06-09
   days on market $79,900 Active 258 DOM
9. 2026-06-08
   days on market $79,900 Active 257 DOM
10. 2026-06-07
    days on market $79,900 Active 256 DOM
11. 2026-06-05
    days on market $79,900 Active 253 DOM
12. 2026-06-03
    days on market $79,900 Active 252 DOM
13. 2026-06-02
    days on market $79,900 Active 251 DOM
14. 2026-06-01
    days on market $79,900 Active 250 DOM
15. 2026-05-31
    days on market $79,900 Active 249 DOM
16. 2026-02-27
    status Active 930-char remark

    Show marketing remark (930 chars)

    Welcome to this charming Granite City home located in a quiet, established neighborhood with easy access to schools, parks, shopping, and major highways. This property blends comfort, convenience, and value—perfect for a first-time buyer, downsizer, or investor. ? Property Highlights: Spacious Layout – Generously sized living area with natural light. Bedrooms & Bathrooms – Comfortable bedrooms with ample closet space. Functional kitchen layout with room for updates or personalization. Outdoor Space – Large yard ideal for gatherings, pets, or gardening. Convenient off-street parking/driveway. Full basement with laundry area and storage. Close to downtown Granite City, restaurants, and local shops. Quick commute to St. Louis and surrounding Metro East communities. Nearby schools, parks, and recreational amenities. Competitive pricing for the area—schedule your showing today!

17. 2025-11-08
    price $79,900 930-char remark

    Show marketing remark (930 chars)

    Welcome to this charming Granite City home located in a quiet, established neighborhood with easy access to schools, parks, shopping, and major highways. This property blends comfort, convenience, and value—perfect for a first-time buyer, downsizer, or investor. ? Property Highlights: Spacious Layout – Generously sized living area with natural light. Bedrooms & Bathrooms – Comfortable bedrooms with ample closet space. Functional kitchen layout with room for updates or personalization. Outdoor Space – Large yard ideal for gatherings, pets, or gardening. Convenient off-street parking/driveway. Full basement with laundry area and storage. Close to downtown Granite City, restaurants, and local shops. Quick commute to St. Louis and surrounding Metro East communities. Nearby schools, parks, and recreational amenities. Competitive pricing for the area—schedule your showing today!

18. 2025-09-29
    price $89,900 930-char remark

    Show marketing remark (930 chars)

    Welcome to this charming Granite City home located in a quiet, established neighborhood with easy access to schools, parks, shopping, and major highways. This property blends comfort, convenience, and value—perfect for a first-time buyer, downsizer, or investor. ? Property Highlights: Spacious Layout – Generously sized living area with natural light. Bedrooms & Bathrooms – Comfortable bedrooms with ample closet space. Functional kitchen layout with room for updates or personalization. Outdoor Space – Large yard ideal for gatherings, pets, or gardening. Convenient off-street parking/driveway. Full basement with laundry area and storage. Close to downtown Granite City, restaurants, and local shops. Quick commute to St. Louis and surrounding Metro East communities. Nearby schools, parks, and recreational amenities. Competitive pricing for the area—schedule your showing today!

19. 2025-08-28
    listed $99,000 Active 930-char remark

    Show marketing remark (930 chars)

    Welcome to this charming Granite City home located in a quiet, established neighborhood with easy access to schools, parks, shopping, and major highways. This property blends comfort, convenience, and value—perfect for a first-time buyer, downsizer, or investor. ? Property Highlights: Spacious Layout – Generously sized living area with natural light. Bedrooms & Bathrooms – Comfortable bedrooms with ample closet space. Functional kitchen layout with room for updates or personalization. Outdoor Space – Large yard ideal for gatherings, pets, or gardening. Convenient off-street parking/driveway. Full basement with laundry area and storage. Close to downtown Granite City, restaurants, and local shops. Quick commute to St. Louis and surrounding Metro East communities. Nearby schools, parks, and recreational amenities. Competitive pricing for the area—schedule your showing today!

20. 2018-06-11
    price $20,000
21. 2004-03-05
    soldstatus $27,500
22. 2000-06-14
    soldstatus $59,000
23. 1991-12-06
    soldstatus $31,000

ⓘ 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: $318 · $27/mo
• Projected year-2 tax: $1,066 · $89/mo
• Expected delta: +$748/yr (+$62/mo · 235.1%)

ⓘ 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: $14,878
• − Mortgage interest: −$4,476
• − Property taxes: −$318
• − Insurance: −$400
• − Repairs & maintenance: −$1,190
• − Management: −$1,190
• − Depreciation: −$2,324
• Taxable income: $4,980
• Est. tax owed @ 24.0%: −$1,195
• After-tax cash flow: $4,813/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

+157.7% since first listed

8 events — show timeline

• 2026-02-27 Relisted — MARIS as Distributed by MLS Grid
• 2025-11-08 Price Changed $79,900 MARIS as Distributed by MLS Grid
• 2025-09-29 Price Changed $89,900 MARIS as Distributed by MLS Grid
• 2025-08-28 Listed $99,000 MARIS as Distributed by MLS Grid
• 2018-06-11 Price Changed $20,000 MARIS as Distributed by MLS Grid
• 2004-03-05 Sold (Public Records) $27,500 Public Records
• 2000-06-14 Sold (Public Records) $59,000 Public Records
• 1991-12-06 Sold (Public Records) $31,000 Public Records

Property tax history

-14.7%/yr

Latest (2024): $318 · +1.5% YoY. Source: county tax records.