1244 Center Ave · Chicago Heights, IL 60411

$63,000

3 bd · 2.0 ba · 1,538 sqft · SingleFamily public records · 28 Days on market

Built 1962 6,000 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 +4.1/5.0
• Livability +3.6/5.0
• Condition / age +2.5/5.0
• Schools +0.7/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

CASE # 137-804724 4 bedroom ranch with full basement sits on a cornet lot.

Key facts

• 6,000 sq ft lot
• Parking
• Built 1962

Property features AI

Finance

• Other: Parcel number: 32211130780000
• HOA & community: No master association fee required

Exterior

• Parking: One parking space; Driveway parking
• Utilities: Public water; Public sewer
• Home design: Detached single-family home; One-story layout; Fee simple ownership; Built approximately 61–70 years ago; Built before 1978
• Construction: Aluminum siding; Unfinished basement (approx. 1,538); Total finished + unfinished about 3,076
• Exterior features: Corner lot (approx. 60 x 100); Driveway; Concrete surfaces

Interior

• Kitchen: Kitchen on main level (~10 x 9); Range included
• Bedrooms: Four bedrooms (all on the main level) — primary ~12 x 11, others ~10 x 10, 9 x 9, 9 x 9
• Flooring: Hardwood flooring in living room
• Bathrooms: Two full bathrooms; Basement contains a bathroom
• Heating & cooling: Natural gas forced-air heating; Central air conditioning
• Interior features: Seven total rooms; Unfinished full basement
• Laundry & utility: Laundry room

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $63k.

Deal economics

• At list price, monthly cash flow is $882 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $63k).
• Recommended offer: $62k (1.5% below list) — sets the bar for market timing.
• Cap rate 24.2% vs local median 6.4% in Chicago Heights — 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 71/100 on livability (#339 in IL) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: employment C-, schools F, crime F.
• Bloom Twp Hsd 206 (suburban): math 8% / reading 9% proficiency, ranked #591 of 620 in IL (top 95%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: Rents rising fast (+6.5%/yr); 222 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals leasing fast (median 13d on market — plan ~1-2 weeks tenant-placement turnaround); 6,272 units permitted in Cook County in 2024 (4,658 in 5+ unit buildings).
• This rent runs 34% of the median local income ($62k/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 $436 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 6.5% rent growth), your $18k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 28 days — a 2% lower offer ($62k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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.

Risks & watch-outs

• Watch-outs: flood insurance adds $56/mo.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $62,055 (1.5% below list)

Questions for the listing agent

1. Built in 1962 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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. 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: 2.82% ✓
• Cap rate: 24.15%
• Cash-on-cash: 63.79%
• DSCR: 3.84
• GRM: 3.0

CMA / ARV

• ARV (on-the-fly): $186,098
• Comps found: 8

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1221 Emerald Ave	0.40mi	3/1.5	1,410 (-8%)	2mo	$150,000	$106	64
227 E 16th St	0.37mi	3/2.0	1,459 (-5%)	18mo	$177,000	$121	59
1541 Center St	0.39mi	3/1.5	1,386 (-10%)	7mo	$257,000	$185	57
1425 E End Ave	0.39mi	4/2.0 (+1)	1,500 (-2%)	20mo	$144,000	$96	56
1541 Wallace St	0.43mi	3/1.5	1,386 (-10%)	16mo	$135,000	$97	49
1026 Emerald Ave	0.51mi	3/2.0	1,670 (+9%)	16mo	$179,900	$108	48
241 W 16th St	0.37mi	4/3.0 (+1)	1,642 (+7%)	19mo	$226,000	$138	46
202 Hillcrest Ave	0.70mi	3/1.5	1,319 (-14%)	11mo	$198,900	$151	32

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 · 6.48% rent growth · sell at horizon

5-year hold

• IRR: 63.0%
• Equity multiple: 3.98×
• Total profit: $52,500
• Equity at exit: $9,394

10-year hold

• IRR: 68.7%
• Equity multiple: 9.32×
• Total profit: $146,794
• Equity at exit: $5,447

Cash invested: $17,640 (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 60411

• Home prices YoY: -33.9%
• Rents YoY: 6.5%
• Active inventory: 222
• Price-to-rent: 3.0×

Monthly cashflow live

• Estimated rent: $1,778 high
• Mortgage (P&I): −$330
• Tax from tax record: −$110 /mo · $1,326/yr
• Insurance: −$26
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$373
• Net cashflow: $882

Break-even live

Break-even rent $662

Max offer price $63,000

Occupancy floor 45%

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: $15,750
• Closing costs: $1,890
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1203 Emerald Ave Unit 1 Chicago Heights, IL	3.0	1.0	1200	$1,550	$1.29	1d	1	0.43mi
41 W 14th Pl Unit 1 Chicago Heights, IL	3.0	1.0	1250	$1,750	$1.40	11d	1	0.89mi
531 Wallace St Chicago Heights, IL	3.0	1.0	1100	$2,000	$1.82	5d	1	0.95mi
169 E 23rd St Unit 1F Chicago Heights, IL	3.0	1.0	1200	$1,550	$1.29	12d	1	0.96mi
83 W 15th St #1 Chicago Heights, IL	3.0	1.0	1050	$1,500	$1.43	3d	1	1.00mi
1631 Buena Vista Ave Unit 2 Chicago Heights, IL	4.0	1.0	1200	$1,900	$1.58	24d	1	1.14mi
1665 Buena Vista Ave Unit 3 Chicago Heights, IL	4.0	1.0	1700	$1,800	$1.06	18d	1	1.17mi
1667 Buena Vista Ave Unit 1st floor Chicago Heights, IL	2.0	1.0	1300	$1,525	$1.17	24d	1	1.17mi

Listing history 8 events

1. 2026-06-07
   statusdays on market $63,000 Pending 28 DOM
2. 2026-06-04
   days on market $63,000 Active 27 DOM
3. 2026-06-03
   days on market $63,000 Active 26 DOM
4. 2026-06-02
   days on market $63,000 Active 25 DOM
5. 2026-06-01
   days on market $63,000 Active 24 DOM
6. 2026-05-31
   days on market $63,000 Active 23 DOM
7. 2026-05-08
   listed $63,000 Active

   Show marketing remark (76 chars)

   CASE # 137-804724 4 bedroom ranch with full basement sits on a cornet lot.

8. 2026-05-08
   listed $63,000 Active 76-char remark

   Show marketing remark (76 chars)

   CASE # 137-804724 4 bedroom ranch with full basement sits on a cornet lot.

ⓘ 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: $1,326 · $110/mo
• Projected year-2 tax: $1,378 · $115/mo
• Expected delta: +$52/yr (+$4/mo · 3.9%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 7/10 Severe FEMA zone X (unshaded) · 95% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥101°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,339
• − Mortgage interest: −$3,529
• − Property taxes: −$1,326
• − Insurance: −$981
• − Repairs & maintenance: −$1,707
• − Management: −$1,707
• − Depreciation: −$1,833
• Taxable income: $10,256
• Est. tax owed @ 24.0%: −$2,461
• After-tax cash flow: $8,124/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: Bloom Twp Hsd 206
• NCES district ID: 1706420
• Math proficiency: 8% ▼ -3.00%
• Reading proficiency: 9% ▼ -8.00%
• Median HH income: $39,795
• Composite: 7.4/100
• National rank: #9952
• State rank: #591 of 620 in IL

Livability — Chicago Heights

• Score: 71/100
• State rank: #339
• US rank: #6836

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Chicago Heights, IL
• County: Cook County · 4,486,803 people
• City population: 52,175
• Metro: Chicago-Naperville-Elgin, IL-IN-WI
• Population (ZIP): 52,175
• Household income: $62,073
• Rent vs Own: 34.8% rent · 65.2% own
• Severe rent burden: 1714.0

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: Diverse neighborhood (Simpson 0.66)
• Race & ethnicity: Black 49% Hispanic / Latino 26% White 19% Two or more races 11%
• Hispanic origin (detail): Mexican 22% Puerto Rican 2%
• Common ancestry: Romanian 4% Portuguese 1% Lithuanian 1%
• Foreign-born: 12% · Canada
• Languages at home: 76% English-only · Spanish 21% Russian/Polish/Slavic 1% Other Indo-European 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: ▼ -108.75%
• Current HPI: 212.4058
• Rent YoY: ▲ 6.48%
• 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

+0.0% since first listed

2 events — show timeline

• 2026-05-08 Listed $63,000 NIRA MLS as Distributed by MLS Grid
• 2026-05-08 Listed $63,000 MRED as Distributed by MLS Grid

Property tax history

+15.0%/yr

Latest (2023): $1,326 · +5914.4% YoY. Source: county tax records.