3858 E Lakeview Dr · Kankakee, IL 60901

$200,000

3 bd · 1.5 ba · 1,200 sqft · SingleFamily · 18 Days on market

Built 1963 0.28 ac lot $167/sqft · 19% below area Est $226k · 12% under

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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).

• ARV discount +12.8/15.0
• Cash flow +12.3/30.0
• DSCR +3.6/10.0
• Rent growth +3.6/5.0
• Livability +3.1/5.0
• 1% rule +2.7/10.0
• Condition / age +2.5/5.0
• Schools +0.8/10.0
• Appreciation +0.0/10.0

Listing remarks

Enjoy peaceful rural living in this 3bed, 1.5bath ranch located in a quiet subdivision just north of Route 17. This home features an open kitchen, a full finished basement, and a bright sunroom leading to a covered patio overlooking the fenced backyard. The finished basement offers a cozy family room with a woodburning stove, a dry bar, a shower, and inunit washer and dryer. An attached 1.5car garage and a large backyard complete the property. A comfortable rural setting with plenty of space-ready for its next homeowner.

Key facts

• Finished basement
• Covered patio
• Cozy family room

Tags

• OPEN KITCHEN
• FINISHED BASEMENT
• BRIGHT SUNROOM
• COVERED PATIO
• FENCED BACKYARD
• COZY FAMILY ROOM

Property features AI

Finance

• Other: Lot dimensions approximately 100 x 120; lot under 0.25 acre; Zoning: Single-family
• Financial info: Special service area: No; Tax exemptions noted: Homeowner, Senior, Senior Freeze
• HOA & community: No master association fee required

Exterior

• Parking: Attached garage (owned) on asphalt surface; Approximately 1.5 garage/parking spaces
• Utilities: Public water (also listed as shared well); Septic (mechanical)
• Home design: Detached single-family home; One-story layout; Fee simple ownership; Built approximately 61–70 years ago; Asphalt roof; Vinyl siding; Located in unincorporated Kankakee; convenient access to interstate and school bus service
• Construction: Built before 1978
• Exterior features: Balcony

Interior

• Kitchen: Kitchen on main level (7 x 10); Range; Refrigerator
• Bedrooms: Master bedroom on main level (13 x 12) with blinds and hardwood flooring; Bedroom (11 x 11) on main level with blinds and hardwood flooring; Bedroom (11 x 10) on main level with blinds and carpet flooring; Sun room on main level (9 x 11)
• Flooring: Hardwood; Wood laminate; Carpet
• Bathrooms: One full bathroom; One half bathroom
• Heating & cooling: Natural gas forced air heating; Central air conditioning
• Interior features: First-floor bedroom; First-floor full bath; Finished full basement; Seven total rooms; Wood-burning stove fireplace located in the family room (basement)
• Laundry & utility: Laundry room in basement (10 x 12)

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $200k.

Deal economics

• At list price, monthly cash flow is $-37 ($-445/yr) — negative.
• To cash-flow at today's rent, offer at most $193k (3.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $155k (22.5% below list).
• Recommended offer: $155k (22.5% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 62/100 on livability (#832 in IL) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A; Watch: schools F, crime F, amenities F.
• Kankakee SD 111 (urban): math 6% / reading 13% proficiency, ranked #584 of 620 in IL (top 94%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 78% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising fast (+4.4%/yr); 114 active listings in the ZIP; 145 units permitted in Kankakee County in 2024 (5 in 5+ unit buildings).
• This rent runs 32% of the median local income ($58k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

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.
• Kankakee County population projected at -19% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 18 days — a 2% lower offer ($197k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 11y 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 $60k; list at $200k implies a 233% gain — meaningful room to come down on a strong offer.

Recommended offer $154,961 (22.5% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Built in 1963 — 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. 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?
7. 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.
8. 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.
9. 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: 0.77% ✗
• Cap rate: 6.07%
• Cash-on-cash: -0.79%
• DSCR: 0.96
• GRM: 10.8

CMA / ARV

• ARV (median comp): $226,500
• List price: $200,000
• Delta: -2.87%
• Verdict: FAIR
• Comps: 9 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3926 E Chestnut St	0.08mi	3/2.0	1,288 (+7%)	1mo	$226,500	$176	82
122 N 4000 Rd E	0.11mi	3/2.0	1,120 (-7%)	19mo	$175,000	$156	66
149 N Arseneau Rd	0.08mi	3/2.0	1,321 (+10%)	17mo	$255,000	$193	63

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 · 4.38% rent growth · sell at horizon

5-year hold

• IRR: -16.2%
• Equity multiple: 0.42×
• Total profit: $-32,639
• Equity at exit: $29,821

10-year hold

• IRR: -5.9%
• Equity multiple: 0.60×
• Total profit: $-22,463
• Equity at exit: $17,292

Cash invested: $56,000 (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 60901

• Home prices YoY: -32.5%
• Rents YoY: 4.4%
• Active inventory: 114
• Price-to-rent: 10.8×

Monthly cashflow live

• Estimated rent: $1,550 medium
• Mortgage (P&I): −$1,049
• Tax from tax record: −$129 /mo · $1,549/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$325
• Net cashflow: $-37

Break-even live

Break-even rent $1,597

Max offer price $193,452

Occupancy floor 97%

Sensitivity live

Price	-10% $76	-5% $20	+0% $-37	+5% $-94	+10% $-150
Rent	-10% $-159	-5% $-98	+0% $-37	+5% $24	+10% $85
Rate	-1.0pp $64	-0.5pp $14	base $-37	+0.5pp $-89	+1.0pp $-142

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: $50,000
• Closing costs: $6,000
• Reserves months: —
• Total cash needed: —

Listing history 32 events

1. 2026-06-19
   days on market $200,000 Active 18 DOM
2. 2026-06-18
   days on market $200,000 Active 17 DOM
3. 2026-06-18
   status $200,000 Active 16 DOM
4. 2026-06-17
   days on market $200,000 Contingent - Continue to Show 16 DOM
5. 2026-06-16
   days on market $200,000 Contingent - Continue to Show 15 DOM
6. 2026-06-15
   days on market $200,000 Contingent - Continue to Show 14 DOM
7. 2026-06-14
   days on market $200,000 Contingent - Continue to Show 12 DOM
8. 2026-06-13
   statusdays on market $200,000 Contingent - Continue to Show 11 DOM
9. 2026-06-10
   days on market $200,000 Active 9 DOM
10. 2026-06-09
    days on market $200,000 Active 8 DOM
11. 2026-06-08
    days on market $200,000 Active 7 DOM
12. 2026-06-07
    days on market $200,000 Active 6 DOM
13. 2026-06-03
    days on market $200,000 Active 2 DOM
14. 2026-06-02
    remarks 526-char remark
15. 2026-06-02
    pricedays on marketlisting id $200,000 Active 1 DOM
16. 2026-04-22
    price $220,000 241-char remark
17. 2026-04-13
    listed $240,000 Active 241-char remark
18. 2023-10-18
    historical
19. 2023-10-10
    price
20. 2023-09-22
    price
21. 2023-09-17
    listed Active
22. 2022-03-30
    historical Contingent - No Showings
23. 2022-03-29
    historical
24. 2022-03-23
    listed Active
25. 2016-11-08
    historical
26. 2016-09-21
    listed New
27. 2015-12-02
    soldstatus $60,000
28. 2015-12-01
    soldstatus $60,000 Closed Sale
29. 2015-11-18
    status Pending
30. 2015-10-22
    price $79,900
31. 2015-09-10
    price $84,900
32. 2015-07-13
    listed $89,900 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: $1,549 · $129/mo
• Projected year-2 tax: $3,045 · $254/mo
• Expected delta: +$1,495/yr (+$125/mo · 96.5%)

ⓘ 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 ≥103°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,595
• − Mortgage interest: −$11,203
• − Property taxes: −$1,549
• − Insurance: −$1,000
• − Repairs & maintenance: −$1,488
• − Management: −$1,488
• − Depreciation: −$5,818
• Taxable loss: −$3,950
• Est. tax savings @ 24.0%: +$948
• After-tax cash flow: $503/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: Kankakee SD 111
• NCES district ID: 1720760
• Math proficiency: 6% ▼ -7.00%
• Reading proficiency: 13% ▼ -6.00%
• Median HH income: $37,968
• Composite: 8.03/100
• National rank: #9921
• State rank: #584 of 620 in IL

Livability — Kankakee

• Score: 62/100
• State rank: #832
• US rank: #16432

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Kankakee County · 61,801 people
• City population: 33,128
• Metro: Kankakee, IL
• Population (ZIP): 33,128
• Household income: $58,309
• Rent vs Own: 38.6% rent · 61.4% own
• Severe rent burden: 1317.0

Population outlook (Kankakee County) Hauer SSP2

• Today (2025): 105,479 people
• By 2030: 101,792 · -3.5%
• By 2040: 93,479 · -11.4%
• By 2050: 85,061 · -19.4%
• By 2075: 67,314 · -36.2%
• By 2100: 52,439 · -50.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.65)
• Race & ethnicity: White 47% Black 30% Hispanic / Latino 19% Two or more races 7%
• Hispanic origin (detail): Mexican 16%
• Common ancestry: Lithuanian 4% Romanian 4% Slovak 1%
• Foreign-born: 10% · Canada
• Languages at home: 82% English-only · Spanish 16%

Political lean MEDSL · Kankakee

• 2024 margin: Strong R (+20.8) · D 38.7% · R 59.5% · Other 1.8%
• 2008→2024 swing: -25.4pp toward R · 2008: 4.6pp · 2024: -20.8pp
• All cycles: 2024: R+20.8 2020: R+16.5 2016: R+13.3 2012: R+3.4 2008: D+4.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -92.12%
• Current HPI: 190.8755
• Rent YoY: ▲ 4.38%
• Metro: Kankakee, 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

+122.5% since first listed

21 events — show timeline

• 2026-06-17 Relisted — MRED as Distributed by MLS Grid
• 2026-06-11 Contingent — MRED as Distributed by MLS Grid
• 2026-06-01 Listed $200,000 MRED as Distributed by MLS Grid
• 2026-05-28 Listing Removed — MRED as Distributed by MLS Grid
• 2026-04-22 Price Changed — MRED as Distributed by MLS Grid
• 2026-04-13 Listed — MRED as Distributed by MLS Grid
• 2023-10-18 Listing Removed — MRED as Distributed by MLS Grid
• 2023-10-10 Price Changed — MRED as Distributed by MLS Grid
• 2023-09-22 Price Changed — MRED as Distributed by MLS Grid
• 2023-09-17 Listed — MRED as Distributed by MLS Grid
• 2022-03-30 Contingent — MRED as Distributed by MLS Grid
• 2022-03-29 Listing Removed — MRED as Distributed by MLS Grid
• 2022-03-23 Listed — MRED as Distributed by MLS Grid
• 2016-11-08 Listing Removed — MRED as Distributed by MLS Grid
• 2016-09-21 Listed — MRED as Distributed by MLS Grid
• 2015-12-02 Sold (Public Records) $60,000 Public Records
• 2015-12-01 Sold (MLS) $60,000 MRED as Distributed by MLS Grid
• 2015-11-18 Pending — MRED as Distributed by MLS Grid
• 2015-10-22 Price Changed $79,900 MRED as Distributed by MLS Grid
• 2015-09-10 Price Changed $84,900 MRED as Distributed by MLS Grid
• 2015-07-13 Listed $89,900 MRED as Distributed by MLS Grid

Property tax history

+13.0%/yr

Latest (2025): $1,549 · -5.9% YoY. Source: county tax records.