5230 W 51st St · Chicago, IL 60638

$265,000

2 bd · 1.0 ba · 911 sqft · SingleFamily public records · 22 Days on market

Built 1950 3,920 sqft lot Est $253k · at est.

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Why this score? — see what drove the F 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 +6.9/30.0
• ARV discount +5.4/15.0
• Livability +3.9/5.0
• Rent growth +2.8/5.0
• Condition / age +2.5/5.0
• 1% rule +2.2/10.0
• Schools +1.8/10.0
• DSCR +1.1/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Incredible opportunity to own this rare gem in a sought-after community! This spacious and modern 4-bedroom, 2-bathroom home offers the perfect blend of comfort and luxury, featuring 1,727 finished square feet, a fully remodeled kitchen with stainless steel appliances and quartz countertops, and two updated bathrooms. The finished attic with a remodeled bathroom is perfect for a guest suite or additional family space, while the freshly painted interior, new vinyl flooring, new roof, updated electrical system, new A/C, furnace, water heater, new cement sidewalks, and front stairs ensure a move-in-ready experience. Outside, the spacious backyard with a cement patio provides the perfect spot for cookouts or relaxing. Conveniently located near Archer Ave, this home offers quick access to popular area destinations. All necessary permits have been obtained, and the home is fully up to code. Don't miss out-schedule your showing today!

Key facts

• Ample cabinetry
• Private backyard
• Natural light

Tags

• PRIVATE BACKYARD
• AMPLE CABINETRY
• NATURAL LIGHT
• SPACIOUS LIVING AREAS
• CONVENIENTLY LOCATED

Property features AI

Finance

• Other: Property is in an unincorporated area (Stickney township)
• HOA & community: No master association fees required

Exterior

• Parking: 2 parking spaces, off-alley access
• Utilities: Water source: Lake Michigan; Public sewer
• Home design: Detached single-family home; 1.5 story; Fee simple ownership; Rehab completed in 2025; Built 71–80 years ago; Living area source: assessor
• Construction: Frame construction
• Exterior features: Lot dimensions approximately 25 x 125; Lot under 0.25 acre; County-recorded lot size

Interior

• Kitchen: Microwave; High-end refrigerator; Oven; Ceramic tile flooring in kitchen
• Bedrooms: 4 bedrooms (Master, three additional) — Master on main; one bedroom on second level
• Flooring: Hardwood flooring in living room, master bedroom, bedroom 2 and bedroom 3; Carpet on second-level bedroom; Ceramic tile in dining room and kitchen
• Bathrooms: 2 full bathrooms
• Heating & cooling: Natural gas heating; Central air conditioning
• Interior features: Finished attic with dormer and interior stair; Cellar basement; 7 total rooms
• Laundry & utility: Main-level laundry room (5 x 10) with hardwood flooring

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $265k.

Deal economics

• At list price, monthly cash flow is $-405 ($-5k/yr) — negative.
• To cash-flow at today's rent, offer at most $193k (27.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $190k (28.2% below list).
• Recommended offer: $190k (28.2% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 78/100 on livability (#138 in IL, #2,507 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, housing A+; Watch: schools D, crime F.
• Reavis Twp Hsd 220 (suburban): math 18% / reading 21% proficiency, ranked #420 of 620 in IL (top 68%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: Rents rising (+1.3%/yr); 11 active listings in the ZIP; 1 comparable units currently listed for rent nearby; solid renter incomes; 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 $2k of loan paydown is wiped out by about $8k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 22 days — a 2% lower offer ($261k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 16y ago; this cycle's ask has dropped $15k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $190,169 (28.2% 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 1950 — 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 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. 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: 0.72% ✗
• Cap rate: 4.46%
• Cash-on-cash: -6.55%
• DSCR: 0.71
• GRM: 11.6

CMA / ARV

• ARV (on-the-fly): $253,258
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5040 S Leamington Ave	0.13mi	2/2.0	888 (-2%)	1mo	$210,000	$236	85
4804 S Lamon Ave	0.56mi	2/1.0	912 (+0%)	4mo	$220,000	$241	70
5008 S Latrobe Ave	0.09mi	3/1.0 (+1)	812 (-11%)	6mo	$100,000	$123	67
5038 S Laramie Ave	0.07mi	3/2.0 (+1)	1,000 (+10%)	5mo	$329,000	$329	67
4741 S Laramie Ave	0.42mi	3/2.0 (+1)	912 (+0%)	6mo	$253,500	$278	66
5127 S Parkside Ave	0.48mi	2/1.0	852 (-6%)	4mo	$235,000	$276	63
5117 S Luna Ave	0.36mi	3/2.0 (+1)	859 (-6%)	4mo	$285,000	$332	62
5123 S Lotus Ave	0.23mi	3/2.0 (+1)	1,040 (+14%)	2mo	$340,000	$327	55
4818 S Lavergne Ave	0.45mi	3/1.0 (+1)	1,008 (+11%)	5mo	$299,000	$297	52
4644 S Leamington Ave	0.54mi	3/1.0 (+1)	1,008 (+11%)	5mo	$180,000	$179	48
5220 S Central Ave	0.48mi	3/1.0 (+1)	1,040 (+14%)	5mo	$270,000	$260	45
4531 S Lawler Ave	0.73mi	3/2.0 (+1)	1,008 (+11%)	6mo	$295,000	$293	34

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 · 1.32% rent growth · sell at horizon

5-year hold

• IRR: -29.6%
• Equity multiple: 0.03×
• Total profit: $-71,838
• Equity at exit: $39,512

10-year hold

• IRR: -39.6%
• Equity multiple: -0.46×
• Total profit: $-108,027
• Equity at exit: $22,912

Cash invested: $74,200 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (CITY): 13 Strongly Tenant-Friendly
• State Illinois: 43 Moderately Tenant-Leaning · D+7
• County: — inherits STATE
• City Chicago: 13 Strongly Tenant-Friendly · D+30

RTLO 60-day notice + Fair Notice Ordinance; cook county sheriff slow.

Methodology + full state rankings →

ZIP-level market 60638

• Rents YoY: 1.3%
• Active inventory: 11
• Price-to-rent: 11.6×

Monthly cashflow live

• Estimated rent: $1,902 medium
• Mortgage (P&I): −$1,390
• Tax from tax record: −$407 /mo · $4,890/yr
• Insurance: −$110
• HOA: −$0
• Vacancy / Maint / Mgmt: −$399
• Net cashflow: $-405

Break-even live

Break-even rent $2,415

Max offer price $193,411

Occupancy floor —

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: $66,250
• Closing costs: $7,950
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4824 S Lotus Ave Unit G Chicago, IL	2.0	1.0	750	$1,400	$1.87	4d	1	0.42mi

Listing history 32 events

1. 2026-06-18
   days on market $265,000 Active 22 DOM
2. 2026-06-17
   days on market $265,000 Active 21 DOM
3. 2026-06-16
   days on market $265,000 Active 20 DOM
4. 2026-06-15
   days on market $265,000 Active 19 DOM
5. 2026-06-13
   days on market $265,000 Active 17 DOM
6. 2026-06-13
   pricedays on market $265,000 Active 16 DOM
7. 2026-06-09
   days on market $280,000 Active 13 DOM
8. 2026-06-08
   days on market $280,000 Active 12 DOM
9. 2026-06-07
   days on market $280,000 Active 11 DOM
10. 2026-06-04
    days on market $280,000 Active 8 DOM
11. 2026-06-03
    days on market $280,000 Active 7 DOM
12. 2026-06-02
    days on market $280,000 Active 6 DOM
13. 2026-06-01
    days on market $280,000 Active 5 DOM
14. 2026-05-31
    days on market $280,000 Active 4 DOM
15. 2026-05-27
    listed $280,000 Active
16. 2025-11-03
    soldstatus $315,000
17. 2025-10-31
    soldstatus $315,000 Closed 941-char remark

    Show marketing remark (941 chars)

    Incredible opportunity to own this rare gem in a sought-after community! This spacious and modern 4-bedroom, 2-bathroom home offers the perfect blend of comfort and luxury, featuring 1,727 finished square feet, a fully remodeled kitchen with stainless steel appliances and quartz countertops, and two updated bathrooms. The finished attic with a remodeled bathroom is perfect for a guest suite or additional family space, while the freshly painted interior, new vinyl flooring, new roof, updated electrical system, new A/C, furnace, water heater, new cement sidewalks, and front stairs ensure a move-in-ready experience. Outside, the spacious backyard with a cement patio provides the perfect spot for cookouts or relaxing. Conveniently located near Archer Ave, this home offers quick access to popular area destinations. All necessary permits have been obtained, and the home is fully up to code. Don't miss out-schedule your showing today!

18. 2025-09-11
    historical Contingent - Continue to Show 941-char remark

    Show marketing remark (941 chars)

    Incredible opportunity to own this rare gem in a sought-after community! This spacious and modern 4-bedroom, 2-bathroom home offers the perfect blend of comfort and luxury, featuring 1,727 finished square feet, a fully remodeled kitchen with stainless steel appliances and quartz countertops, and two updated bathrooms. The finished attic with a remodeled bathroom is perfect for a guest suite or additional family space, while the freshly painted interior, new vinyl flooring, new roof, updated electrical system, new A/C, furnace, water heater, new cement sidewalks, and front stairs ensure a move-in-ready experience. Outside, the spacious backyard with a cement patio provides the perfect spot for cookouts or relaxing. Conveniently located near Archer Ave, this home offers quick access to popular area destinations. All necessary permits have been obtained, and the home is fully up to code. Don't miss out-schedule your showing today!

19. 2025-03-14
    listed $335,000 Active 941-char remark

    Show marketing remark (941 chars)

    Incredible opportunity to own this rare gem in a sought-after community! This spacious and modern 4-bedroom, 2-bathroom home offers the perfect blend of comfort and luxury, featuring 1,727 finished square feet, a fully remodeled kitchen with stainless steel appliances and quartz countertops, and two updated bathrooms. The finished attic with a remodeled bathroom is perfect for a guest suite or additional family space, while the freshly painted interior, new vinyl flooring, new roof, updated electrical system, new A/C, furnace, water heater, new cement sidewalks, and front stairs ensure a move-in-ready experience. Outside, the spacious backyard with a cement patio provides the perfect spot for cookouts or relaxing. Conveniently located near Archer Ave, this home offers quick access to popular area destinations. All necessary permits have been obtained, and the home is fully up to code. Don't miss out-schedule your showing today!

20. 2024-07-31
    soldstatus $182,000 Closed 602-char remark

    Show marketing remark (602 chars)

    INVESTORS, REHABBERS AND CASH BUYERS DON'T MISS OUT ON THIS AMAZING OPPORTUNITY TO FINISH THIS HOT GARFIELD RIDGE FOUR BEDROOM 2 BATH HOME TO YOUR LIKING. HOME IS SOLD AS-IS AND PRICED TO SELL QUICKLY. FIRST FLOOR CONSISTS OF 3 BEDROOMS, 1 FULL BATHROOM, LIVING ROOM, DINING ROOM, LARGE CHEF'S EAT IN KITCHEN. 2ND STORY IS FULL PRIMARY SUITE WITH LARGE BEDROOM, WALK THROUGH CLOSET TO PRIVATE ADDITIONAL FULL BATH. NEW CONCRETE POURED AND FRAMING DONE FOR OVERSIZED 2.5 CAR GARAGE. THERE ARE VIOLATIONS FOR COACH HOUSE REMOVAL AND GARAGE REBUILD AND PERMITS NEEDED TO COMPLETE THE INTERIOR OF THE HOME.

21. 2024-07-01
    historical Contingent - Continue to Show 602-char remark

    Show marketing remark (602 chars)

    INVESTORS, REHABBERS AND CASH BUYERS DON'T MISS OUT ON THIS AMAZING OPPORTUNITY TO FINISH THIS HOT GARFIELD RIDGE FOUR BEDROOM 2 BATH HOME TO YOUR LIKING. HOME IS SOLD AS-IS AND PRICED TO SELL QUICKLY. FIRST FLOOR CONSISTS OF 3 BEDROOMS, 1 FULL BATHROOM, LIVING ROOM, DINING ROOM, LARGE CHEF'S EAT IN KITCHEN. 2ND STORY IS FULL PRIMARY SUITE WITH LARGE BEDROOM, WALK THROUGH CLOSET TO PRIVATE ADDITIONAL FULL BATH. NEW CONCRETE POURED AND FRAMING DONE FOR OVERSIZED 2.5 CAR GARAGE. THERE ARE VIOLATIONS FOR COACH HOUSE REMOVAL AND GARAGE REBUILD AND PERMITS NEEDED TO COMPLETE THE INTERIOR OF THE HOME.

22. 2024-07-01
    price $200,000 602-char remark

    Show marketing remark (602 chars)

    INVESTORS, REHABBERS AND CASH BUYERS DON'T MISS OUT ON THIS AMAZING OPPORTUNITY TO FINISH THIS HOT GARFIELD RIDGE FOUR BEDROOM 2 BATH HOME TO YOUR LIKING. HOME IS SOLD AS-IS AND PRICED TO SELL QUICKLY. FIRST FLOOR CONSISTS OF 3 BEDROOMS, 1 FULL BATHROOM, LIVING ROOM, DINING ROOM, LARGE CHEF'S EAT IN KITCHEN. 2ND STORY IS FULL PRIMARY SUITE WITH LARGE BEDROOM, WALK THROUGH CLOSET TO PRIVATE ADDITIONAL FULL BATH. NEW CONCRETE POURED AND FRAMING DONE FOR OVERSIZED 2.5 CAR GARAGE. THERE ARE VIOLATIONS FOR COACH HOUSE REMOVAL AND GARAGE REBUILD AND PERMITS NEEDED TO COMPLETE THE INTERIOR OF THE HOME.

23. 2024-06-27
    listed $175,000 Active 602-char remark

    Show marketing remark (602 chars)

    INVESTORS, REHABBERS AND CASH BUYERS DON'T MISS OUT ON THIS AMAZING OPPORTUNITY TO FINISH THIS HOT GARFIELD RIDGE FOUR BEDROOM 2 BATH HOME TO YOUR LIKING. HOME IS SOLD AS-IS AND PRICED TO SELL QUICKLY. FIRST FLOOR CONSISTS OF 3 BEDROOMS, 1 FULL BATHROOM, LIVING ROOM, DINING ROOM, LARGE CHEF'S EAT IN KITCHEN. 2ND STORY IS FULL PRIMARY SUITE WITH LARGE BEDROOM, WALK THROUGH CLOSET TO PRIVATE ADDITIONAL FULL BATH. NEW CONCRETE POURED AND FRAMING DONE FOR OVERSIZED 2.5 CAR GARAGE. THERE ARE VIOLATIONS FOR COACH HOUSE REMOVAL AND GARAGE REBUILD AND PERMITS NEEDED TO COMPLETE THE INTERIOR OF THE HOME.

24. 2010-10-02
    historical
25. 2010-09-02
    status Reactivated
26. 2010-05-06
    historical
27. 2010-04-14
    status Reactivated
28. 2010-04-13
    historical
29. 2010-04-12
    listed New
30. 2005-10-26
    soldstatus $190,000
31. 2000-11-28
    soldstatus $219,000
32. 1980-10-15
    soldstatus $52,000

ⓘ 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: $4,890 · $407/mo
• Projected year-2 tax: $5,453 · $454/mo
• Expected delta: +$563/yr (+$47/mo · 11.5%)

ⓘ 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 ≥100°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 0% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 3 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,820
• − Mortgage interest: −$14,844
• − Property taxes: −$4,890
• − Insurance: −$1,325
• − Repairs & maintenance: −$1,826
• − Management: −$1,826
• − Depreciation: −$7,709
• Taxable loss: −$9,599
• Est. tax savings @ 24.0%: +$2,304
• After-tax cash flow: $-2,559/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: Reavis Twp Hsd 220
• NCES district ID: 1733270
• Math proficiency: 18% ▼ -3.00%
• Reading proficiency: 21% ▼ -4.00%
• Median HH income: $54,732
• Composite: 17.94/100
• National rank: #8994
• State rank: #420 of 620 in IL

Livability — Chicago

• Score: 78/100
• State rank: #138
• US rank: #2507

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Cook County · 4,486,803 people
• City population: 2,653,011
• Metro: Chicago-Naperville-Elgin, IL-IN-WI
• Population (ZIP): 57,074
• Household income: $91,070
• Rent vs Own: 20.2% rent · 79.8% own
• Severe rent burden: 912.0

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: Majority Hispanic (60%)
• Race & ethnicity: Hispanic / Latino 60% White 36% Two or more races 21% Black 2% Native American 2%
• Hispanic origin (detail): Mexican 54% Puerto Rican 3%
• Common ancestry: Romanian 16% Scotch-Irish 1% Lithuanian 1%
• Foreign-born: 24% · Canada, China
• Languages at home: 44% English-only · Spanish 45% Russian/Polish/Slavic 9% 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: ▼ -276.94%
• Current HPI: 233.5662
• Rent YoY: ▲ 1.32%
• 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

+438.5% since first listed

18 events — show timeline

• 2026-05-27 Listed $280,000 MRED as Distributed by MLS Grid
• 2025-11-03 Sold (Public Records) $315,000 Public Records
• 2025-10-31 Sold (MLS) $315,000 MRED as Distributed by MLS Grid
• 2025-09-11 Contingent — MRED as Distributed by MLS Grid
• 2025-03-14 Listed $335,000 MRED as Distributed by MLS Grid
• 2024-07-31 Sold (MLS) $182,000 MRED as Distributed by MLS Grid
• 2024-07-01 Contingent — MRED as Distributed by MLS Grid
• 2024-07-01 Price Changed $200,000 MRED as Distributed by MLS Grid
• 2024-06-27 Listed $175,000 MRED as Distributed by MLS Grid
• 2010-10-02 Listing Removed — MRED as Distributed by MLS Grid
• 2010-09-02 Relisted — MRED as Distributed by MLS Grid
• 2010-05-06 Listing Removed — MRED as Distributed by MLS Grid
• 2010-04-14 Relisted — MRED as Distributed by MLS Grid
• 2010-04-13 Listing Removed — MRED as Distributed by MLS Grid
• 2010-04-12 Listed — MRED as Distributed by MLS Grid
• 2005-10-26 Sold (Public Records) $190,000 Public Records
• 2000-11-28 Sold (Public Records) $219,000 Public Records
• 1980-10-15 Sold (Public Records) $52,000 Public Records

Property tax history

+3.2%/yr

Latest (2023): $4,890 · -48.8% YoY. Source: county tax records.