2409 Bryan Ave · Granite City, IL 62040

$98,000

3 bd · 1.0 ba · 980 sqft · SingleFamily · 38 Days on market

Built 1920 6,250 sqft lot $100/sqft · 51% above area

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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 +29.2/30.0
• DSCR +10.0/10.0
• 1% rule +8.1/10.0
• ARV discount +7.5/15.0
• 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

Charming and beautifully remodeled and completely move in ready. This stunning 3-bedroom, 1 bath, bungalow sits on a spacious 50 x 125 lot and offers the perfect blend of modern updates and timeless character. From the moment you arrive you'll appreciate the inviting curb appeal and welcoming atmosphere this home provides. Inside you'll find gorgeous hardwood flooring complemented by brand-new carpeting, fresh paint, wainscotting, making this home ready for immediate occupancy. The bright and comfortable floorplan creates a warm, inviting environment perfect for everyday living or entertaining guests. Every detail has been thoughtfully refreshed to provide a clean, stylish, and low maintenance living experience.

Key facts

• Hardwood flooring
• Remodeled
• Wainscotting

Tags

• REMODELED
• MOVE IN READY
• HARDWOOD FLOORING
• BRAND NEW CARPETING
• FRESH PAINT
• WAINSCOTTING

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $98k.

Deal economics

• At list price, monthly cash flow is $341 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $98k).
• Recommended offer: $95k (3.0% below list) — sets the bar for market timing.
• Cap rate 10.5% 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); 194 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 15d 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 $678 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 + 1.7% rent growth), your $27k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 38 days — a 3% lower offer ($95k) is reasonable based on typical stale-listing flexibility.

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 $95,060 (3.0% below list)

Questions for the listing agent

1. It's been on market 38 days. Have you received any prior offers? Is the seller open to a 3% 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. 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. 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.
7. 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.
8. 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: 1.31% ✓
• Cap rate: 10.47%
• Cash-on-cash: 14.90%
• DSCR: 1.66
• GRM: 6.3

CMA / ARV

• ARV (median comp): $64,731
• List price: $98,000
• Delta: 51.39%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2427 Illinois Ave	0.13mi	2/1.0 (-1)	987 (+1%)	14mo	$90,000	$91	76
2235 Dewey Ave	0.12mi	3/1.0	1,064 (+9%)	6mo	$25,000	$23	75
2014 Bryan Ave	0.38mi	3/1.0	940 (-4%)	9mo	$55,000	$59	68
2128 Dewey Ave	0.25mi	3/1.0	1,064 (+9%)	7mo	$10,000	$9	68
2406 Missouri Ave. Ave	0.21mi	2/1.0 (-1)	900 (-8%)	11mo	$85,000	$94	62
2442 Dewey Ave	0.11mi	2/1.0 (-1)	1,111 (+13%)	9mo	$65,000	$59	60
2228 Nevada Ave	0.16mi	2/1.0 (-1)	850 (-13%)	10mo	$69,900	$82	57
2915 Roosevelt Ave	0.48mi	2/1.0 (-1)	912 (-7%)	11mo	$79,500	$87	52
2208 Adams St	0.65mi	3/1.0	1,096 (+12%)	5mo	$60,000	$55	45
2017 Dewey Ave	0.37mi	2/1.5 (-1)	1,088 (+11%)	16mo	$55,900	$51	43
903 24th	0.71mi	2/1.0 (-1)	924 (-6%)	14mo	$70,000	$76	41
1940 Adams St	0.68mi	2/1.0 (-1)	1,072 (+9%)	15mo	$45,000	$42	35

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: 4.0%
• Equity multiple: 1.15×
• Total profit: $4,141
• Equity at exit: $14,612

10-year hold

• IRR: 12.2%
• Equity multiple: 1.90×
• Total profit: $24,831
• Equity at exit: $8,473

Cash invested: $27,440 (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: 6.3×

Monthly cashflow live

• Estimated rent: $1,289 medium
• Mortgage (P&I): −$514
• Tax est. 1.5%: −$122 /mo · $1,470/yr
• Insurance: −$41
• HOA: −$0
• Vacancy / Maint / Mgmt: −$271
• Net cashflow: $341

Break-even live

Break-even rent $857

Max offer price $98,000

Occupancy floor 69%

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: $24,500
• Closing costs: $2,940
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2556 Center St Granite City, IL	3.0	1.0	874	$1,500	$1.72	14d	1	0.92mi
2450 Cleveland Blvd Apt A Granite City, IL	2.0	1.0	846	$825	$0.98	17d	1	0.94mi
2317 Grand Ave Granite City, IL	2.0	1.0	1124	$750	$0.67	7d	1	1.06mi
2715 Center St Unit B Granite City, IL	2.0	1.0	930	$1,275	$1.37	43d	1	1.12mi
2415 Jerden Ave Granite City, IL	3.0	1.0	970	$1,400	$1.44	4d	1	1.49mi

Listing history 17 events

1. 2026-06-18
   days on market $98,000 Active 38 DOM
2. 2026-06-17
   days on market $98,000 Active 37 DOM
3. 2026-06-16
   days on market $98,000 Active 36 DOM
4. 2026-06-16
   price $98,000 Active 35 DOM
5. 2026-06-15
   days on market $98,500 Active 35 DOM
6. 2026-06-13
   days on market $98,500 Active 33 DOM
7. 2026-06-13
   days on market $98,500 Active 32 DOM
8. 2026-06-09
   days on market $98,500 Active 29 DOM
9. 2026-06-08
   days on market $98,500 Active 28 DOM
10. 2026-06-07
    statusdays on market $98,500 Active 27 DOM
11. 2026-06-05
    days on market $98,500 Active Under Contract 24 DOM
12. 2026-06-03
    days on market $98,500 Active Under Contract 23 DOM
13. 2026-06-02
    days on market $98,500 Active Under Contract 22 DOM
14. 2026-06-01
    days on market $98,500 Active Under Contract 21 DOM
15. 2026-05-31
    days on market $98,500 Active Under Contract 20 DOM
16. 2026-05-18
    historical Active Under Contract 725-char remark

    Show marketing remark (725 chars)

    Charming and beautifully remodeled and completely move in ready. This stunning 3-bedroom, 1 bath, bungalow sits on a spacious 50 x 125 lot and offers the perfect blend of modern updates and timeless character. From the moment you arrive you'll appreciate the inviting curb appeal and welcoming atmosphere this home provides. Inside you'll find gorgeous hardwood flooring complemented by brand-new carpeting, fresh paint, wainscotting, making this home ready for immediate occupancy. The bright and comfortable floorplan creates a warm, inviting environment perfect for everyday living or entertaining guests. Every detail has been thoughtfully refreshed to provide a clean, stylish, and low maintenance living experience.

17. 2026-05-11
    listed $98,500 Active 725-char remark

    Show marketing remark (725 chars)

    Charming and beautifully remodeled and completely move in ready. This stunning 3-bedroom, 1 bath, bungalow sits on a spacious 50 x 125 lot and offers the perfect blend of modern updates and timeless character. From the moment you arrive you'll appreciate the inviting curb appeal and welcoming atmosphere this home provides. Inside you'll find gorgeous hardwood flooring complemented by brand-new carpeting, fresh paint, wainscotting, making this home ready for immediate occupancy. The bright and comfortable floorplan creates a warm, inviting environment perfect for everyday living or entertaining guests. Every detail has been thoughtfully refreshed to provide a clean, stylish, and low maintenance living experience.

ⓘ 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 5/10 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 5 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,464
• − Mortgage interest: −$5,490
• − Property taxes: −$1,470
• − Insurance: −$490
• − Repairs & maintenance: −$1,237
• − Management: −$1,237
• − Depreciation: −$2,851
• Taxable income: $2,689
• Est. tax owed @ 24.0%: −$645
• After-tax cash flow: $3,444/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

• 2026-05-18 Contingent — MARIS as Distributed by MLS Grid
• 2026-05-11 Listed $98,500 MARIS as Distributed by MLS Grid