16428 Wabash Ave · South Holland, IL 60473

$194,000

3 bd · 1.5 ba · 1,147 sqft · SingleFamily public records · 6 Days on market

Built 1978 7,200 sqft lot Est $233k · 17% 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 +25.8/30.0
• ARV discount +15.0/15.0
• 1% rule +9.7/10.0
• DSCR +8.6/10.0
• Livability +3.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +0.7/10.0
• Appreciation +0.0/10.0

Listing remarks

A fantastic opportunity awaits in South Holland! This home offers a solid foundation for you to customize and build instant equity. It features hardwood floors throughout that are ready for your personal touch, a versatile finished lower level for extra living space, and a detached two-car garage for vehicles and storage. The three-bedroom layout provides a practical and desirable floor plan. The backyard is a blank canvas, complete with a wonderful gazebo over the back deck, ready for you to design your perfect outdoor oasis. Located with quick and easy access to major expressways like I-94 and I-294, your commute is simplified. This property is a great find!

Key facts

• Back deck
• Backyard gazebo
• Hardwood floors

Tags

• HARDWOOD FLOORS
• FINISHED LOWER LEVEL
• DETACHED TWO-CAR GARAGE
• BACKYARD GAZEBO
• BACK DECK
• QUICK ACCESS TO EXPRESSWAYS

Property features AI

Finance

• Financial info: Special service area: No
• HOA & community: No master association fee required; Community amenities include park, curbs, sidewalks, street lights and paved streets

Exterior

• Parking: Detached garage (owned), approximately 2.5 garage/total parking spaces
• Utilities: Public water; Public sewer; 100 amp electric service
• Home design: Detached single-family home; Tri-level / split-level design; Fee simple ownership; School bus service available; Age about 41–50 years
• Construction: Cedar exterior; Asphalt roof; Concrete perimeter foundation
• Exterior features: Screened porch; Porch; Fenced yard; Irregular lot; Lot dimensions approximately 50 x 107 x 84.113

Interior

• Kitchen: Eating-area kitchen (15 x 11, marble flooring); Range; Refrigerator
• Bedrooms: Three bedrooms total; Master bedroom on the second level (15 x 10, carpet); Second bedroom on the second level (12 x 9, carpet); Third bedroom on the second level (11 x 10, carpet)
• Flooring: Hardwood in portions of the home; Carpet in bedrooms, living and family areas; Marble in the kitchen; Other flooring in laundry
• Bathrooms: One full bathroom; One half bathroom; Soaking tub
• Heating & cooling: Natural gas forced-air heating; Central air conditioning
• Interior features: Seven total rooms; Window screens; Full unfinished attic; Separate dining room; Crawl space basement
• Laundry & utility: Lower-level laundry room (10 x 10)

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $194k.

Deal economics

• At list price, monthly cash flow is $468 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $194k).

Location & tenants

• Location reads 77/100 on livability (#167 in IL, #3,071 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, housing A+, cost of living A; Watch: crime C-, amenities C-, schools D+.
• 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: 135 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 25d 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

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• 6 sale attempts since 14y ago; this cycle's ask has dropped $22k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: property tax is 4.3% of price.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $194,000

Questions for the listing agent

1. Built in 1978 — 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 D-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. 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.
6. 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.
7. 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: 1.47% ✓
• Cap rate: 9.19%
• Cash-on-cash: 10.34%
• DSCR: 1.46
• GRM: 5.7

CMA / ARV

• ARV (on-the-fly): $232,841
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1 E 164th St	0.10mi	3/2.0	1,255 (+9%)	5mo	$195,000	$155	74
16061 Wabash Ave	0.47mi	3/1.5	1,159 (+1%)	6mo	$235,000	$203	72
16811 Wausau Ave	0.51mi	3/2.0	1,145 (-0%)	3mo	$245,000	$214	71
112 E 160th Pl	0.53mi	3/2.0	1,141 (-0%)	2mo	$210,000	$184	71
16550 Elm Ct	0.49mi	4/2.5 (+1)	1,144 (-0%)	4mo	$252,000	$220	65
16815 Wausau Ave	0.52mi	3/2.0	1,076 (-6%)	2mo	$151,000	$140	62
509 E 161st Pl	0.69mi	3/2.0	1,176 (+2%)	4mo	$182,000	$155	58
16417 Claire Ln	0.61mi	3/2.5	1,209 (+5%)	2mo	$254,995	$211	57
535 E 166th Pl	0.66mi	2/1.5 (-1)	1,200 (+5%)	2mo	$156,500	$130	55
503 Marie Dr	0.62mi	3/2.0	1,056 (-8%)	5mo	$216,900	$205	51
459 E 166th St	0.56mi	4/2.0 (+1)	1,300 (+13%)	1mo	$235,000	$181	44
519 E 161st St	0.74mi	3/2.0	1,024 (-11%)	5mo	$210,000	$205	41

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -0.6%
• Equity multiple: 0.98×
• Total profit: $-1,310
• Equity at exit: $28,926

10-year hold

• IRR: 9.2%
• Equity multiple: 1.71×
• Total profit: $38,533
• Equity at exit: $16,774

Cash invested: $54,320 (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 60473

• Active inventory: 135
• Price-to-rent: 5.7×

Monthly cashflow live

• Estimated rent: $2,854 medium
• Mortgage (P&I): −$1,017
• Tax from tax record: −$689 /mo · $8,265/yr
• Insurance: −$81
• HOA: −$0
• Vacancy / Maint / Mgmt: −$599
• Net cashflow: $468

Break-even live

Break-even rent $2,262

Max offer price $194,000

Occupancy floor 79%

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: $48,500
• Closing costs: $5,820
• Reserves months: —
• Total cash needed: —

Rent comps 4 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	1.13mi
16246 Dobson Ave South Holland, IL	3.0	2.0	1250	$3,170	$2.54	2d	1	1.19mi
15509 Park Ln South Holland, IL	4.0	1.5	1200	$3,400	$2.83	8d	1	1.36mi
15509 Park Ln South Holland, IL	4.0	1.5	1200	$3,400	$2.83	24d	1	1.36mi

Listing history 42 events

1. 2026-06-18
   days on market $194,000 Active 6 DOM
2. 2026-06-17
   days on market $194,000 Active 5 DOM
3. 2026-06-16
   days on market $194,000 Active 4 DOM
4. 2026-06-15
   days on market $194,000 Active 3 DOM
5. 2026-06-13
   days on marketlisting id $194,000 Active 1 DOM
6. 2026-06-09
   days on market $194,000 Active 138 DOM
7. 2026-06-08
   days on market $194,000 Active 137 DOM
8. 2026-06-07
   days on market $194,000 Active 136 DOM
9. 2026-06-04
   days on market $194,000 Active 133 DOM
10. 2026-06-03
    days on market $194,000 Active 132 DOM
11. 2026-06-02
    days on market $194,000 Active 131 DOM
12. 2026-06-01
    days on market $194,000 Active 130 DOM
13. 2026-05-31
    days on market $194,000 Active 129 DOM
14. 2026-04-24
    price $194,000
15. 2026-03-27
    price $200,000
16. 2026-02-27
    price $204,000
17. 2026-01-31
    price $210,000
18. 2026-01-22
    listed $216,000 Active
19. 2026-01-22
    historical
20. 2026-01-09
    price
21. 2025-12-05
    price
22. 2025-10-31
    listed Active
23. 2025-10-31
    historical
24. 2025-10-17
    price
25. 2025-09-27
    price
26. 2025-09-12
    price
27. 2025-09-05
    price
28. 2025-08-29
    price
29. 2025-08-21
    price
30. 2025-08-07
    listed Active
31. 2018-07-09
    soldstatus $1,328,000
32. 2016-12-30
    soldstatus $133,000
33. 2013-07-25
    soldstatus $132,500 Closed Sale
34. 2013-07-22
    soldstatus $60,500
35. 2013-05-15
    listed Contingent
36. 2013-05-01
    soldstatus $60,200 Closed Sale
37. 2013-04-03
    historical Contingent
38. 2013-03-23
    price $75,000 Reactivated
39. 2013-03-23
    status Reactivated
40. 2013-01-17
    historical
41. 2012-11-13
    price $95,000 Price Change
42. 2012-07-19
    listed $99,000 New

ⓘ 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: $8,265 · $689/mo
• Projected year-2 tax: $8,265 · $689/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 6/10 Major FEMA zone X (unshaded) · 68% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥102°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: $34,253
• − Mortgage interest: −$10,867
• − Property taxes: −$8,265
• − Insurance: −$970
• − Repairs & maintenance: −$2,740
• − Management: −$2,740
• − Depreciation: −$5,644
• Taxable income: $3,027
• Est. tax owed @ 24.0%: −$726
• After-tax cash flow: $4,890/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 — South Holland

• Score: 77/100
• State rank: #167
• US rank: #3071

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: South Holland, IL
• City population: 21,407
• Population (ZIP): 21,407

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 (75%)
• Race & ethnicity: Black 75% White 10% Hispanic / Latino 10% Two or more races 3% Asian 1%
• Hispanic origin (detail): Mexican 9% Puerto Rican 1%
• Common ancestry: Iranian 3% Romanian 2%
• Foreign-born: 6% · Canada, China
• Languages at home: 87% English-only · Spanish 8% Other Asian/Pacific 1% Russian/Polish/Slavic 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: ▼ -114.36%
• Current HPI: 201.2479
• 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

+96.0% since first listed

29 events — show timeline

• 2026-04-24 Price Changed $194,000 MRED as Distributed by MLS Grid
• 2026-03-27 Price Changed $200,000 MRED as Distributed by MLS Grid
• 2026-02-27 Price Changed $204,000 MRED as Distributed by MLS Grid
• 2026-01-31 Price Changed $210,000 MRED as Distributed by MLS Grid
• 2026-01-22 Listing Removed — MRED as Distributed by MLS Grid
• 2026-01-22 Listed $216,000 MRED as Distributed by MLS Grid
• 2026-01-09 Price Changed — MRED as Distributed by MLS Grid
• 2025-12-05 Price Changed — MRED as Distributed by MLS Grid
• 2025-10-31 Listing Removed — MRED as Distributed by MLS Grid
• 2025-10-31 Listed — MRED as Distributed by MLS Grid
• 2025-10-17 Price Changed — MRED as Distributed by MLS Grid
• 2025-09-27 Price Changed — MRED as Distributed by MLS Grid
• 2025-09-12 Price Changed — MRED as Distributed by MLS Grid
• 2025-09-05 Price Changed — MRED as Distributed by MLS Grid
• 2025-08-29 Price Changed — MRED as Distributed by MLS Grid
• 2025-08-21 Price Changed — MRED as Distributed by MLS Grid
• 2025-08-07 Listed — MRED as Distributed by MLS Grid
• 2018-07-09 Sold (Public Records) $1,328,000 Public Records
• 2016-12-30 Sold (Public Records) $133,000 Public Records
• 2013-07-25 Sold (MLS) $132,500 MRED as Distributed by MLS Grid
• 2013-07-22 Sold (Public Records) $60,500 Public Records
• 2013-05-15 Listed — MRED as Distributed by MLS Grid
• 2013-05-01 Sold (MLS) $60,200 MRED as Distributed by MLS Grid
• 2013-04-03 Contingent — MRED as Distributed by MLS Grid
• 2013-03-23 Relisted — MRED as Distributed by MLS Grid
• 2013-03-23 Price Changed $75,000 MRED as Distributed by MLS Grid
• 2013-01-17 Listing Removed — MRED as Distributed by MLS Grid
• 2012-11-13 Price Changed $95,000 MRED as Distributed by MLS Grid
• 2012-07-19 Listed $99,000 MRED as Distributed by MLS Grid

Property tax history

+4.5%/yr

Latest (2023): $8,265 · +15.3% YoY. Source: county tax records.