14640 Martin Luther King Dr · Dolton, IL 60419

$198,500

3 bd · 1.0 ba · 1,040 sqft · SingleFamily public records · 144 Days on market

Built 1963 6,250 sqft lot Est $138k · 44% over

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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 +17.9/30.0
• 1% rule +6.6/10.0
• DSCR +5.6/10.0
• Rent growth +4.9/5.0
• Livability +3.7/5.0
• Condition / age +2.5/5.0
• Schools +0.7/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Beautiful Quad updated with Hardwood Floors, Granite Counter Tops, Stainless Steel appliances. Beautifully Rehabbed Bathrooms, 2.5 Car Garage with access in front and back of home. Patio for outside entertainment. Schedule your Clients for Viewing.

Key facts

• 6,250 sq ft lot
• 2 garage spots
• Built 1963

Property features AI

Finance

• Other: Ownership is fee simple; Property not currently leased; Rehab year: 2018; Parcel number on record
• HOA & community: No master association fee required

Exterior

• Parking: Attached garage (garage owned) with 2 garage spaces; Concrete driveway; Garage door opener
• Utilities: Public water; Public sewer
• Home design: Detached single-family home; Quad-level layout; Built before 1978; rehab completed in 2018; Brick construction
• Construction: Asphalt roof; Concrete perimeter foundation; Brick exterior; Age approximately 61–70 years
• Exterior features: Lot approximately 50 x 126 (less than 0.25 acre); County-recorded lot dimensions; School bus and commuter transit access nearby; Interstate access

Interior

• Kitchen: Kitchen on the main level (14 x 10) with blinds and hardwood floors
• Bedrooms: 4 bedrooms; Master bedroom on the second level; Bedroom 2 on the second level (13 x 10) with hardwood floors; Bedroom 3 on the second level (10 x 10) with hardwood floors; Bedroom 4 on the fourth level (11 x 10) with ceramic tile
• Flooring: Hardwood flooring in main living areas and most bedrooms; Ceramic tile in one bedroom
• Bathrooms: 2 full bathrooms; Basement contains a bathroom
• Heating & cooling: Natural gas forced-air heating; Central air conditioning
• Interior features: Finished full basement; 8 total rooms
• Laundry & utility: Dedicated laundry room

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $198k.

Deal economics

• At list price, monthly cash flow is $167 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $198k).
• Recommended offer: $175k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.3% vs local median 9.3% in Dolton — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

Location & tenants

• Location reads 74/100 on livability (#263 in IL, #4,883 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: employment C-, health & safety C-, schools 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 (+9.7%/yr); 130 active listings in the ZIP; 18 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); 6,272 units permitted in Cook County in 2024 (4,658 in 5+ unit buildings).
• At $2,305/mo this rent would consume 48% of the median local household income ($58k/yr) (locally 919% 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 $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $56k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 144 days — a 12% lower offer ($175k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 16y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $155k; 28% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: property tax is 3.2% of price.

Recommended offer $174,680 (12.0% below list)

Questions for the listing agent

1. It's been on market 144 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 1963 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. Crime grade is D 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?
8. 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?
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 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: 1.16% ✓
• Cap rate: 7.30%
• Cash-on-cash: 3.60%
• DSCR: 1.16
• GRM: 7.2

CMA / ARV

• ARV (on-the-fly): $138,320
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
506 E 144th St	0.38mi	3/1.0	1,020 (-2%)	2mo	$48,500	$48	78
14619 Martin Luther King Jr Dr	0.07mi	3/1.0	1,153 (+11%)	2mo	$163,000	$141	77
14819 Irving Ave	0.35mi	3/1.0	980 (-6%)	4mo	$130,000	$133	71
14813 Evers St	0.24mi	4/1.0 (+1)	1,127 (+8%)	3mo	$82,000	$73	67
14915 Irving Ave	0.43mi	2/1.0 (-1)	980 (-6%)	4mo	$68,000	$69	62
14647 Irving Ave	0.28mi	3/2.0	889 (-14%)	2mo	$138,000	$155	57
14927 Cottage Grove Ave	0.64mi	3/2.0	1,095 (+5%)	1mo	$250,000	$228	57
14840 Langley Ave	0.46mi	2/1.0 (-1)	936 (-10%)	2mo	$37,000	$40	55
15061 Wabash Ave	0.64mi	3/1.5	1,116 (+7%)	2mo	$150,000	$134	54
619 E 152nd St	0.67mi	3/1.5	1,146 (+10%)	1mo	$153,000	$134	49
201 E 143rd St	0.66mi	4/2.0 (+1)	1,129 (+9%)	0mo	$95,000	$84	45
14633 Wabash Ave	0.65mi	3/7.0	1,150 (+11%)	1mo	$95,000	$83	31

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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: -4.2%
• Equity multiple: 0.84×
• Total profit: $-9,167
• Equity at exit: $29,597

10-year hold

• IRR: 11.2%
• Equity multiple: 2.11×
• Total profit: $61,970
• Equity at exit: $17,163

Cash invested: $55,580 (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 60419

• Home prices YoY: -25.7%
• Rents YoY: 9.7%
• Active inventory: 130
• Price-to-rent: 7.2×

Monthly cashflow live

• Estimated rent: $2,305 high
• Mortgage (P&I): −$1,041
• Tax from tax record: −$531 /mo · $6,370/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$484
• Net cashflow: $167

Break-even live

Break-even rent $2,094

Max offer price $198,500

Occupancy floor 88%

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: $49,625
• Closing costs: $5,955
• Reserves months: —
• Total cash needed: —

Rent comps 18 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
14817 Champlain Ave Dolton, IL	2.0	1.0	980	$2,430	$2.48	22d	1	0.39mi
14916 Langley Ave Dolton, IL	3.0	1.5	1418	$2,500	$1.76	25d	1	0.49mi
14305 Irving Ave Unit 2 Dolton, IL	3.0	1.0	1100	$2,200	$2.00	25d	1	0.56mi
14500 Cottage Grove Ave Unit 3 Dolton, IL	2.0	1.0	1000	$1,475	$1.48	25d	1	0.58mi
14844 Wabash Ave Dolton, IL	3.0	1.5	1277	$2,320	$1.82	25d	1	0.72mi
15238 Doctor Martin Luther King Junior Dr Unit 2W Dolton, IL	2.0	1.0	800	$1,500	$1.88	11d	1	0.72mi
14124 Manor Ave Dolton, IL	3.0	2.0	1440	$2,390	$1.66	25d	1	0.78mi
15509 Park Ln South Holland, IL	4.0	1.5	1200	$3,400	$2.83	8d	1	1.03mi
15509 Park Ln South Holland, IL	4.0	1.5	1200	$3,400	$2.83	25d	1	1.03mi
13841 Forest Ave Dolton, IL	3.0	1.0	930	$1,895	$2.04	25d	1	1.06mi
14433 Woodlawn Ave Dolton, IL	4.0	2.0	1300	$2,000	$1.54	19d	1	1.08mi
14716 Dorchester Ave Dolton, IL	3.0	2.0	1250	$2,800	$2.24	19d	1	1.27mi
14101 S Atlantic Ave Riverdale, IL	2.0	1.0	790	$1,140	$1.44	8d	1	1.27mi
15231 Hastings Dr Dolton, IL	4.0	1.5	1487	$2,146	$1.44	8d	1	1.31mi
14610 Blackstone Ave Dolton, IL	3.0	1.0	1017	$2,400	$2.36	6d	1	1.39mi
14738 Blackstone Ave Dolton, IL	3.0	1.0	1017	$2,400	$2.36	10d	1	1.39mi
13810 S La Salle St #1 Riverdale, IL	3.0	1.0	800	$1,550	$1.94	2d	1	1.45mi
14015 S Stewart Ave Unit 2W Riverdale, IL	2.0	1.0	800	$1,400	$1.75	25d	1	1.48mi

Listing history 41 events

1. 2026-06-18
   days on market $198,500 Active 144 DOM
2. 2026-06-17
   days on market $198,500 Active 143 DOM
3. 2026-06-16
   days on market $198,500 Active 142 DOM
4. 2026-06-15
   days on market $198,500 Active 141 DOM
5. 2026-06-13
   days on market $198,500 Active 139 DOM
6. 2026-06-13
   days on market $198,500 Active 138 DOM
7. 2026-06-09
   days on market $198,500 Active 135 DOM
8. 2026-06-08
   days on market $198,500 Active 134 DOM
9. 2026-06-07
   days on market $198,500 Active 133 DOM
10. 2026-06-04
    days on market $198,500 Active 130 DOM
11. 2026-06-03
    days on market $198,500 Active 129 DOM
12. 2026-06-02
    days on market $198,500 Active 128 DOM
13. 2026-06-01
    days on market $198,500 Active 127 DOM
14. 2026-05-31
    days on market $198,500 Active 126 DOM
15. 2026-03-20
    price $201,500
16. 2026-01-25
    listed $206,500 Active
17. 2019-07-24
    soldstatus $155,000
18. 2019-07-16
    soldstatus $155,000 Closed Sale 248-char remark

    Show marketing remark (248 chars)

    Beautiful Quad updated with Hardwood Floors, Granite Counter Tops, Stainless Steel appliances. Beautifully Rehabbed Bathrooms, 2.5 Car Garage with access in front and back of home. Patio for outside entertainment. Schedule your Clients for Viewing.

19. 2019-05-17
    historical Contingent 248-char remark

    Show marketing remark (248 chars)

    Beautiful Quad updated with Hardwood Floors, Granite Counter Tops, Stainless Steel appliances. Beautifully Rehabbed Bathrooms, 2.5 Car Garage with access in front and back of home. Patio for outside entertainment. Schedule your Clients for Viewing.

20. 2019-04-11
    status Reactivated 248-char remark

    Show marketing remark (248 chars)

    Beautiful Quad updated with Hardwood Floors, Granite Counter Tops, Stainless Steel appliances. Beautifully Rehabbed Bathrooms, 2.5 Car Garage with access in front and back of home. Patio for outside entertainment. Schedule your Clients for Viewing.

21. 2019-04-08
    historical Contingent 248-char remark

    Show marketing remark (248 chars)

    Beautiful Quad updated with Hardwood Floors, Granite Counter Tops, Stainless Steel appliances. Beautifully Rehabbed Bathrooms, 2.5 Car Garage with access in front and back of home. Patio for outside entertainment. Schedule your Clients for Viewing.

22. 2019-03-29
    listed $155,000 New 248-char remark

    Show marketing remark (248 chars)

    Beautiful Quad updated with Hardwood Floors, Granite Counter Tops, Stainless Steel appliances. Beautifully Rehabbed Bathrooms, 2.5 Car Garage with access in front and back of home. Patio for outside entertainment. Schedule your Clients for Viewing.

23. 2019-03-12
    historical
24. 2019-03-05
    status Active
25. 2019-03-04
    historical
26. 2019-02-21
    listed New
27. 2019-02-12
    historical
28. 2018-11-08
    price
29. 2018-10-12
    listed New
30. 2017-06-08
    soldstatus $60,000
31. 2017-06-06
    soldstatus $60,000 Closed Sale
32. 2017-05-04
    status Pending
33. 2017-04-28
    listed $59,995 New
34. 2013-01-09
    soldstatus $2,400,000
35. 2010-07-01
    soldstatus $35,626 Closed Sale
36. 2010-03-23
    status Pending
37. 2010-02-19
    price $52,200 Price Change
38. 2010-01-15
    listed $58,000 New
39. 2002-01-04
    soldstatus $127,500
40. 1991-07-23
    soldstatus $98,000
41. 1984-06-04
    soldstatus $80,000

ⓘ 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: $6,370 · $531/mo
• Projected year-2 tax: $6,370 · $531/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 (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: $27,661
• − Mortgage interest: −$11,119
• − Property taxes: −$6,370
• − Insurance: −$992
• − Repairs & maintenance: −$2,213
• − Management: −$2,213
• − Depreciation: −$5,775
• Taxable loss: −$1,020
• Est. tax savings @ 24.0%: +$245
• After-tax cash flow: $2,244/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 — Dolton

• Score: 74/100
• State rank: #263
• US rank: #4883

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Dolton, IL
• County: Cook County · 4,486,803 people
• City population: 20,825
• Metro: Chicago-Naperville-Elgin, IL-IN-WI
• Population (ZIP): 20,825
• Household income: $57,887
• Rent vs Own: 27.4% rent · 72.6% own
• Severe rent burden: 919.0

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 (91%)
• Race & ethnicity: Black 91% White 4% Two or more races 3% Hispanic / Latino 1%
• Common ancestry: Romanian 1% Hispanic 1%
• Foreign-born: 3% · Canada
• Languages at home: 95% English-only · French/Haitian/Cajun 2% Spanish 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: ▼ -66.88%
• Current HPI: 193.2346
• Rent YoY: ▲ 9.65%
• 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

Price history

+151.9% since first listed

27 events — show timeline

• 2026-03-20 Price Changed $201,500 MRED as Distributed by MLS Grid
• 2026-01-25 Listed $206,500 MRED as Distributed by MLS Grid
• 2019-07-24 Sold (Public Records) $155,000 Public Records
• 2019-07-16 Sold (MLS) $155,000 MRED as Distributed by MLS Grid
• 2019-05-17 Contingent — MRED as Distributed by MLS Grid
• 2019-04-11 Relisted — MRED as Distributed by MLS Grid
• 2019-04-08 Contingent — MRED as Distributed by MLS Grid
• 2019-03-29 Listed $155,000 MRED as Distributed by MLS Grid
• 2019-03-12 Listing Removed — MRED as Distributed by MLS Grid
• 2019-03-05 Relisted — MRED as Distributed by MLS Grid
• 2019-03-04 Listing Removed — MRED as Distributed by MLS Grid
• 2019-02-21 Listed — MRED as Distributed by MLS Grid
• 2019-02-12 Listing Removed — MRED as Distributed by MLS Grid
• 2018-11-08 Price Changed — MRED as Distributed by MLS Grid
• 2018-10-12 Listed — MRED as Distributed by MLS Grid
• 2017-06-08 Sold (Public Records) $60,000 Public Records
• 2017-06-06 Sold (MLS) $60,000 MRED as Distributed by MLS Grid
• 2017-05-04 Pending — MRED as Distributed by MLS Grid
• 2017-04-28 Listed $59,995 MRED as Distributed by MLS Grid
• 2013-01-09 Sold (Public Records) $2,400,000 Public Records
• 2010-07-01 Sold (MLS) $35,626 MRED as Distributed by MLS Grid
• 2010-03-23 Pending — MRED as Distributed by MLS Grid
• 2010-02-19 Price Changed $52,200 MRED as Distributed by MLS Grid
• 2010-01-15 Listed $58,000 MRED as Distributed by MLS Grid
• 2002-01-04 Sold (Public Records) $127,500 Public Records
• 1991-07-23 Sold (Public Records) $98,000 Public Records
• 1984-06-04 Sold (Public Records) $80,000 Public Records

Property tax history

+3.3%/yr

Latest (2023): $6,370 · -0.1% YoY. Source: county tax records.