624 Belle Ct · Phoenix, IL 60426

$45,000

2 bd · 1.0 ba · 792 sqft · SingleFamily public records · 123 Days on market

Built 1926 3,075 sqft lot ↓ 39% since listing

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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
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +0.7/10.0

Listing remarks

Tucked away on a quiet residential court, this unassuming home is the kind of opportunity seasoned investors recognize instantly not for what it is today, but for what it can become. At 624 Belle Ct, you're starting with a solid foundation. The home features 2 bedrooms and 1 bath across 792 sq ft, but the real story unfolds beyond the main level. A basement and partially finished attic dramatically expand the usable footprint, opening the door to 34 bedrooms or even a two-unit layout for those exploring value-add or house-hack strategies. The structure is strong, the layout flexible, and the upside compelling. Whether you're planning a fix-and-flip, a long-term buy-and-hold, or a BRRRR exec

Key facts

• Detached garage
• 3,075 sq ft lot
• Built 1926

Tags

• QUIET RESIDENTIAL COURT
• DETACHED GARAGE
• PARTIALLY FINISHED ATTIC
• MINUTES FROM SHOPPING

Property features AI

Exterior

• Home design: House; 792 square feet of living space
• Exterior features: Lot of approximately 3,075 sq ft

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $45k.

Deal economics

• At list price, monthly cash flow is $798 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $45k).
• Recommended offer: $40k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 75/100 on livability (#230 in IL, #4,248 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, crime A-; Watch: health & safety C-, schools F, amenities 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: 134 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 19d on market — plan ~3-4 weeks tenant-placement turnaround); 6,272 units permitted in Cook County in 2024 (4,658 in 5+ unit buildings).

Forward outlook

• In year one you build about $5k of equity ($311 loan paydown + $4k appreciation (10.0% local appreciation)).
• At projected returns (10.0% appreciation + 3.0% rent growth), your $13k cash investment doubles in ~1 year — after that, you're playing with house money.
• By year 7, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 123 days — a 12% lower offer ($40k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $28k; list at $45k implies a 64% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1926 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $39,600 (12.0% below list)

Questions for the listing agent

1. It's been on market 123 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 1926 — 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. 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: 3.08% ✓
• Cap rate: 27.58%
• Cash-on-cash: 76.02%
• DSCR: 4.38
• GRM: 2.7

CMA / ARV

• ARV (on-the-fly): $108,504
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
522 Frances St	0.13mi	2/1.0	840 (+6%)	13mo	$115,000	$137	73
15360 9th Ave	0.43mi	2/1.0	787 (-1%)	18mo	$89,000	$113	63
296 E 149th St	0.56mi	3/1.0 (+1)	772 (-2%)	4mo	$93,000	$120	61
14726 Madison Ave	0.73mi	2/1.0	760 (-4%)	1mo	$35,000	$46	58
14921 Oakdale Ave	0.66mi	2/2.0	768 (-3%)	3mo	$55,000	$72	58
805 E 153 St	0.24mi	3/2.0 (+1)	823 (+4%)	20mo	$229,900	$279	57
282 E 149th St	0.59mi	3/1.0 (+1)	813 (+3%)	13mo	$100,000	$123	52
14717 E Riverside Dr	0.75mi	2/1.0	728 (-8%)	3mo	$35,000	$48	49
14924 Oakdale Ave	0.64mi	3/1.0 (+1)	768 (-3%)	17mo	$143,000	$186	46
15036 Perry Ave	0.32mi	3/1.0 (+1)	900 (+14%)	15mo	$145,000	$161	45
319 E 148th St	0.68mi	2/1.0	724 (-9%)	15mo	$115,000	$159	42
14812 Perry Ave	0.61mi	3/1.0 (+1)	900 (+14%)	20mo	$164,900	$183	28

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 86.4%
• Equity multiple: 6.98×
• Total profit: $75,356
• Equity at exit: $40,540

10-year hold

• IRR: 80.9%
• Equity multiple: 15.44×
• Total profit: $181,956
• Equity at exit: $87,425

Cash invested: $12,600 (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 60426

• Home prices YoY: 6.9%
• Active inventory: 134
• Price-to-rent: 2.7×

Monthly cashflow live

• Estimated rent: $1,384 medium
• Mortgage (P&I): −$236
• Tax from tax record: −$40 /mo · $484/yr
• Insurance: −$19
• HOA: −$0
• Vacancy / Maint / Mgmt: −$291
• Net cashflow: $798

Break-even live

Break-even rent $373

Max offer price $45,000

Occupancy floor 37%

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: $11,250
• Closing costs: $1,350
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
16048 Halsted St Unit 2 Harvey, IL	3.0	1.0	1091	$1,650	$1.51	24d	1	1.02mi
15324 Doctor Martin Luther King Junior Dr Unit 1B Dolton, IL	1.0	1.0	725	$985	$1.36	18d	1	1.34mi
15238 Doctor Martin Luther King Junior Dr Unit 2W Dolton, IL	2.0	1.0	800	$1,500	$1.88	10d	1	1.36mi

Listing history 6 events

1. 2026-06-03
   days on market $45,000 Active 123 DOM
2. 2026-06-02
   days on market $45,000 Active 122 DOM
3. 2026-06-01
   days on market $45,000 Active 121 DOM
4. 2026-05-31
   days on market $45,000 Active 120 DOM
5. 2026-03-17
   soldstatus $27,500
6. 2026-01-31
   listed $45,000 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: $484 · $40/mo
• Projected year-2 tax: $753 · $63/mo
• Expected delta: +$269/yr (+$22/mo · 55.5%)

ⓘ 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: $16,606
• − Mortgage interest: −$2,521
• − Property taxes: −$484
• − Insurance: −$225
• − Repairs & maintenance: −$1,329
• − Management: −$1,329
• − Depreciation: −$1,309
• Taxable income: $9,411
• Est. tax owed @ 24.0%: −$2,259
• After-tax cash flow: $7,320/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 — Phoenix

• Score: 75/100
• State rank: #230
• US rank: #4248

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Phoenix, IL
• Population (ZIP): 23,066

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: Majority Black (59%)
• Race & ethnicity: Black 59% Hispanic / Latino 33% Two or more races 12% White 3% Asian 2%
• Hispanic origin (detail): Mexican 31%
• Foreign-born: 17% · Canada
• Languages at home: 67% English-only · Spanish 30% Other Indo-European 2% French/Haitian/Cajun 1%

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: ▲ 20.36%
• Current HPI: 313.7895
• Rent YoY: —
• Metro: —
• 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

-38.9% since first listed

2 events — show timeline

• 2026-03-17 Sold (Public Records) $27,500 Public Records
• 2026-01-31 Listed $45,000 ForSaleByOwner.com

Property tax history

+0.2%/yr

Latest (2023): $484 · +54.2% YoY. Source: county tax records.