60 E 138th St · Riverdale, IL 60827

$449,000

12 bd · 6.0 ba · 5,880 sqft · MultiFamily public records · 103 Days on market

Built 1961 3,049 sqft lot

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Rent growth +4.5/5.0
• Livability +3.5/5.0
• Condition / age +2.5/5.0
• Schools +0.7/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 6 units. confirmed

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks

Exceptional opportunity for INVESTORS seeking stable cash flow with built-in rental upside. This well-maintained 6-unit multifamily property has demonstrated nearly perfect occupancy for over 40 years, with only one single month of vacancy across all units during that entire time. Each unit features a 1 bed/1 bath layout with approximately 450 sq. ft of livable space + bathroom/storage. Roof was upgraded 6 years ago, water heater 3 years ago, common areas freshly painted 1 year ago. Current rents average $800 per unit, while comparable properties in the area suggest approximately $1,100 per unit, creating a clear value-add opportunity for INVESTORS looking to increase cash flow over time.

Key facts

• Multifamily property
• Well maintained
• Upgraded roof

Tags

• MULTIFAMILY PROPERTY
• WELL MAINTAINED
• UPGRADED ROOF
• UPGRADED WATER HEATER
• FRESHLY PAINTED COMMON AREAS

Property features AI

Finance

• Financial info: Total monthly rental income approximately $4,800; Individual unit monthly rents range from $800 to $1,100; Gross annual income approximately $57,600; Gross rent multiplier 7.79; Insurance expense reported at $2,600 annually

Exterior

• Parking: Rear parking off alley
• Utilities: Standard municipal utilities (details not provided)
• Home design: Multi-family building (5+ units)
• Construction: Brick construction; Built before 1978
• Exterior features: Parking spaces accessed from alley at rear of building

Interior

• Kitchen: Six ranges
• Bedrooms: Six 1-bedroom units
• Bathrooms: Each unit has 1 full bathroom
• Heating & cooling: Radiators for heat; Window unit cooling
• Interior features: Radiator heating; Window air conditioning units
• Laundry & utility: One shared washer; One shared dryer

What this means for you Summary

Snapshot

• This is a 6 × 1-bed/1.0-bath units multifamily listed at $449k.

Deal economics

• At list price, monthly cash flow is $2k ($29k/yr) — positive. Per door: $404/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($7k rent vs $449k).
• Recommended offer: $409k (9.0% below list) — sets the bar for market timing.
• Cap rate 12.8% vs local median 9.5% in Riverdale — 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 69/100 on livability (#434 in IL) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A-; Watch: health & safety C-, schools F, crime F.
• Thornton Twp Hsd 205 (suburban): math 7% / reading 8% proficiency, ranked #594 of 620 in IL (top 96%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: Rents rising fast (+7.8%/yr); 77 active listings in the ZIP; lower-income renter base — watch delinquency; 6,272 units permitted in Cook County in 2024 (4,658 in 5+ unit buildings).
• At $7,180/mo this rent would consume 232% of the median local household income ($37k/yr) (locally 1868% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $13k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 7.8% rent growth), your $126k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 103 days — a 9% lower offer ($409k) is reasonable based on typical stale-listing flexibility.

Recommended offer $408,590 (9.0% below list)

Questions for the listing agent

1. It's been on market 103 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1961 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. 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.
10. 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.
11. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.60% ✓
• Cap rate: 12.77%
• Cash-on-cash: 23.14%
• DSCR: 2.03
• GRM: 5.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 7.82% rent growth · sell at horizon

5-year hold

• IRR: 21.6%
• Equity multiple: 1.94×
• Total profit: $118,349
• Equity at exit: $66,947

10-year hold

• IRR: 32.8%
• Equity multiple: 4.72×
• Total profit: $468,225
• Equity at exit: $38,821

Cash invested: $125,720 (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 60827

• Home prices YoY: -31.8%
• Rents YoY: 7.8%
• Active inventory: 77
• Price-to-rent: 31.3×

Monthly cashflow live

• Estimated rent: $7,180 high
• Mortgage (P&I): −$2,355
• Tax from tax record: −$706 /mo · $8,476/yr
• Insurance: −$187
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,508
• Net cashflow: $2,424

Break-even live

Break-even rent $4,111

Max offer price $449,000

Occupancy floor 61%

Sensitivity live

Price	-10% $2,678	-5% $2,551	+0% $2,424	+5% $2,297	+10% $2,170
Rent	-10% $1,857	-5% $2,141	+0% $2,424	+5% $2,708	+10% $2,991
Rate	-1.0pp $2,650	-0.5pp $2,538	base $2,424	+0.5pp $2,308	+1.0pp $2,189

6-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 6× units	1	1	$7,182
Total (6 units)			$7,180

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: $112,250
• Closing costs: $13,470
• Reserves months: —
• Total cash needed: —

Listing history 15 events

1. 2026-06-21
   days on market $449,000 Active 103 DOM
2. 2026-06-18
   days on market $449,000 Active 100 DOM
3. 2026-06-17
   days on market $449,000 Active 99 DOM
4. 2026-06-16
   days on market $449,000 Active 98 DOM
5. 2026-06-15
   days on market $449,000 Active 97 DOM
6. 2026-06-13
   days on market $449,000 Active 95 DOM
7. 2026-06-13
   days on market $449,000 Active 94 DOM
8. 2026-06-09
   days on market $449,000 Active 91 DOM
9. 2026-06-08
   days on market $449,000 Active 90 DOM
10. 2026-06-07
    days on market $449,000 Active 89 DOM
11. 2026-06-04
    days on market $449,000 Active 86 DOM
12. 2026-06-03
    days on market $449,000 Active 85 DOM
13. 2026-06-02
    days on market $449,000 Active 84 DOM
14. 2026-06-01
    days on market $449,000 Active 83 DOM
15. 2026-05-31
    days on market $449,000 Active 82 DOM

ⓘ 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: $8,476 · $706/mo
• Projected year-2 tax: $9,334 · $778/mo
• Expected delta: +$858/yr (+$71/mo · 10.1%)

ⓘ 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 (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥101°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $86,160
• − Mortgage interest: −$25,151
• − Property taxes: −$8,476
• − Insurance: −$2,245
• − Repairs & maintenance: −$6,893
• − Management: −$6,893
• − Depreciation: −$13,062
• Taxable income: $23,440
• Est. tax owed @ 24.0%: −$5,626
• After-tax cash flow: $23,464/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: Thornton Twp Hsd 205
• NCES district ID: 1738970
• Math proficiency: 7% ▬ 0.00%
• Reading proficiency: 8% ▼ -2.00%
• Median HH income: $43,392
• Composite: 6.92/100
• National rank: #9976
• State rank: #594 of 620 in IL

Livability — Riverdale

• Score: 69/100
• State rank: #434
• US rank: #8867

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Riverdale, IL
• County: Cook County · 4,486,803 people
• City population: 24,713
• Metro: Chicago-Naperville-Elgin, IL-IN-WI
• Population (ZIP): 24,713
• Household income: $37,217
• Rent vs Own: 59.8% rent · 40.2% own
• Severe rent burden: 1868.0

Population outlook (Cook County) Hauer SSP2

• Today (2025): 5,347,519 people
• By 2030: 5,357,703 · +0.2%
• By 2040: 5,324,924 · -0.4%
• By 2050: 5,230,762 · -2.2%
• By 2075: 4,785,735 · -10.5%
• By 2100: 4,188,836 · -21.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly Black (88%)
• Race & ethnicity: Black 88% Two or more races 5% Hispanic / Latino 5% White 2%
• Common ancestry: Iranian 1%
• Foreign-born: 2% · Canada
• Languages at home: 96% English-only · Spanish 3%

Political lean MEDSL · Cook

• 2024 margin: Solid D (+42.0) · D 70.4% · R 28.4% · Other 1.2%
• 2008→2024 swing: -11.4pp toward R · 2008: 53.4pp · 2024: 42.0pp
• All cycles: 2024: D+42.0 2020: D+50.3 2016: D+53.0 2012: D+49.4 2008: D+53.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -76.39%
• Current HPI: 163.7725
• Rent YoY: ▲ 7.82%
• Metro: Chicago-Naperville-Elgin, IL-IN-WI
• 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

Property tax history

+3.1%/yr

Latest (2023): $8,476 · -7.3% YoY. Source: county tax records.