3004 Myrtle Ave · Granite City, IL 62040

$15,500

3 bd · 1.0 ba · 696 sqft · SingleFamily public records · 4 Days on market

Built 1920 5,000 sqft 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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• 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

Opportunity awaits at 3004 Myrtle Ave in Granite City! This 1.5-story home offers a functional layout with the front door opening into the living room, separate dining room, and compact kitchen area. The main level also includes two small bedrooms and a full bathroom, while the upstairs features an additional bedroom space that could serve as a private retreat, office, or flex room. A full unfinished basement provides plenty of storage potential or room for future improvements. Situated in an established neighborhood, this property is conveniently located near local schools, parks, shopping, dining, and quick access to major highways for an easy commute into the greater St. Louis Metro East

Key facts

• Community parks
• Local amenities
• 5,000 sq ft lot

Tags

• FULL UNFINISHED BASEMENT
• ESTABLISHED NEIGHBORHOOD
• COMMUNITY PARKS
• LOCAL AMENITIES
• PROXIMITY TO RECREATION

Property features AI

Finance

• Other: Living area and above-grade finished area per public records
• Financial info: Lease not considered

Exterior

• Parking: Two parking spaces total; One-car garage (22x14); One carport space
• Utilities: Public water; Public sewer; Electric service: Ameren; Natural gas available
• Home design: Single-family residence; One and one-half story; Residential property; Government ownership type
• Construction: Vinyl siding; Built (year per public records)
• Exterior features: Covered patio; Back yard

Interior

• Bedrooms: Three bedrooms total (two on main level, one on upper level)
• Bathrooms: One full bathroom
• Heating & cooling: Forced air heating (natural gas); No central air cooling
• Interior features: Full basement; Seven total rooms

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $16k.

Deal economics

• At list price, monthly cash flow is $784 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $16k).
• Cap rate 67.0% 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: crime F, amenities F, commute 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.
• Zoned schools: Granite City High School (math 10% / reading 12%, grade F, #522 of 693 statewide, top 76%, 1,805 students, 0% FRL) — zoned schools average 0% FRL vs 59% district-wide (59 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: Rents rising (+1.7%/yr); 194 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 $107 of loan paydown is wiped out by about $465 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 $4k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: property tax is 5.0% of price; 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 $15,500

Questions for the listing agent

1. Built in 1920 — 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: 7.65% ✓
• Cap rate: 67.03%
• Cash-on-cash: 216.90%
• DSCR: 10.65
• GRM: 1.1

CMA / ARV

• ARV (on-the-fly): $82,128
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2664 E 28th St	0.34mi	2/1.0 (-1)	720 (+3%)	6mo	$85,000	$118	68
2748 Myrtle Ave	0.30mi	2/1.0 (-1)	744 (+7%)	3mo	$70,000	$94	67
2657 E 27th St	0.38mi	2/1.0 (-1)	720 (+3%)	9mo	$97,000	$135	64
2853 Ralph St	0.36mi	2/1.0 (-1)	672 (-3%)	12mo	$115,000	$171	62
2532 E 27th St	0.55mi	3/1.0	720 (+3%)	9mo	$60,000	$83	61
3140 Aubrey Ave	0.27mi	2/1.0 (-1)	792 (+14%)	5mo	$59,900	$76	55
2524 Propes Ave	0.57mi	2/1.0 (-1)	728 (+5%)	8mo	$85,000	$117	54
3017 Ramona Dr	0.45mi	2/1.0 (-1)	780 (+12%)	3mo	$150,000	$192	52
2801 Buxton Ave	0.28mi	2/1.0 (-1)	612 (-12%)	15mo	$79,900	$131	50
3213 Wayne Ave	0.41mi	2/1.0 (-1)	775 (+11%)	11mo	$100,000	$129	48
2810 Indiana Ave	0.70mi	2/2.0 (-1)	713 (+2%)	11mo	$69,000	$97	45
2510 Hodges Ave	0.75mi	2/1.0 (-1)	750 (+8%)	14mo	$68,000	$91	36

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: —
• Equity multiple: 11.58×
• Total profit: $45,931
• Equity at exit: $2,311

10-year hold

• IRR: —
• Equity multiple: 23.64×
• Total profit: $98,261
• Equity at exit: $1,340

Cash invested: $4,340 (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: 194
• Price-to-rent: 1.1×

Monthly cashflow live

• Estimated rent: $1,185 medium
• Mortgage (P&I): −$81
• Tax from tax record: −$64 /mo · $771/yr
• Insurance: −$6
• HOA: −$0
• Vacancy / Maint / Mgmt: −$249
• Net cashflow: $784

Break-even live

Break-even rent $192

Max offer price $15,500

Occupancy floor 29%

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: $3,875
• Closing costs: $465
• Reserves months: —
• Total cash needed: —

Listing history 2 events

1. 2026-05-12
   status Pending
2. 2026-05-08
   listed $15,500 Active

ⓘ 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: $771 · $64/mo
• Projected year-2 tax: $771 · $64/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 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: $14,225
• − Mortgage interest: −$868
• − Property taxes: −$771
• − Insurance: −$78
• − Repairs & maintenance: −$1,138
• − Management: −$1,138
• − Depreciation: −$451
• Taxable income: $9,781
• Est. tax owed @ 24.0%: −$2,347
• After-tax cash flow: $7,066/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

2 events — show timeline

• 2026-05-12 Pending — MARIS as Distributed by MLS Grid
• 2026-05-08 Listed $15,500 MARIS as Distributed by MLS Grid