13935 Laramie Ave #220 · Crestwood, IL 60418

$165,000

2 bd · 2.0 ba · 1,160 sqft · Condo · 1 Days on market

Built 1985 $281/mo HOA · 14% of rent

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Why this score? — see what drove the C 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 +23.9/30.0
• DSCR +7.7/10.0
• ARV discount +7.5/15.0
• 1% rule +7.0/10.0
• Livability +4.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.5/10.0
• Appreciation +0.0/10.0

Listing remarks

Welcome home to this inviting 3rd-floor condo offering the perfect blend of comfort, convenience, and low-maintenance living! Ideally situated close to shopping, dining, parks, and major highways, you'll love having everything you need just minutes away. Inside, the bright and airy floor plan features soaring vaulted ceilings that enhance the spacious living and dining rooms, creating an open and welcoming atmosphere. The eat-in kitchen provides plenty of room for casual meals, while the separate dining area is ideal for entertaining family and friends. Enjoy the added convenience of in-unit laundry and two generously sized bedrooms with two full bathrooms. Step outside to your own private

Key facts

• 3rd floor condo
• Private balcony
• Community access

Tags

• 3RD FLOOR CONDO
• PRIVATE BALCONY
• IN-UNIT LAUNDRY
• OUTDOOR INGROUND POOL
• COMMUNITY ACCESS

Property features AI

Finance

• Other: 12 units in the building; School bus service and interstate access nearby; Located in Crestwood (Bremen Township)
• Financial info: Special service area: No; Tax exemptions noted for homeowner/senior (tax details available separately)
• HOA & community: Monthly association fee of $281; Association covers parking, pool, lawn care and snow removal; Association amenities include pool and security door locks; Pets allowed (cats and dogs) with limits; max pet weight 30 lbs; Community features include sidewalks and street lights

Exterior

• Parking: 2 parking spaces; Association parking included
• Security: Security door locks (association amenity)
• Utilities: Public water; Public sewer
• Home design: Attached single (condo); Condo ownership; Entry level: 3rd floor; Brick construction
• Construction: Asphalt roof; Brick exterior; Building about 41–50 years old; Approximately 1,160 finished square feet
• Exterior features: In-ground pool; Balcony; Exterior lighting; Landscaped, level common lot

Interior

• Kitchen: Kitchen with eating area / table space; Range; Dishwasher; Refrigerator
• Bedrooms: 2 bedrooms total; Additional bedroom spaces listed (possible bedrooms: 2); Master bedroom with full bath and shower-only
• Flooring: Carpet in living room, dining room and bedrooms; Laminate flooring in kitchen
• Bathrooms: 2 full bathrooms
• Heating & cooling: Natural gas heating; Forced air heating; Central air conditioning
• Interior features: Separate dining room; 5 total rooms; Some photos virtually staged
• Laundry & utility: Washer and dryer included; Washer hookup in unit; In-unit laundry (3 x 6)

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $165k.

Deal economics

• At list price, monthly cash flow is $320 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $165k).
• Cap rate 8.6% vs local median 4.9% in Crestwood — 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 82/100 on livability (#75 in IL, #1,220 nationally) — a professional / high-income tenant draw. Strengths: commute A+, cost of living A+, housing A+; Watch: schools D-.
• Bremen Chsd 228 (suburban): math 15% / reading 17% proficiency, ranked #468 of 620 in IL (top 76%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 30 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals leasing fast (median 8d on market — plan ~1-2 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 $5k of value loss. Plan a longer hold.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $90k; list at $165k implies a 83% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $165,000

Questions for the listing agent

1. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
2. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.20% ✓
• Cap rate: 8.62%
• Cash-on-cash: 8.30%
• DSCR: 1.37
• GRM: 6.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -3.6%
• Equity multiple: 0.86×
• Total profit: $-6,287
• Equity at exit: $24,602

10-year hold

• IRR: 6.1%
• Equity multiple: 1.46×
• Total profit: $21,121
• Equity at exit: $14,266

Cash invested: $46,200 (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 60418

• Active inventory: 30
• Price-to-rent: 6.9×

Monthly cashflow live

• Estimated rent: $1,981 high
• Mortgage (P&I): −$865
• Tax from tax record: −$30 /mo · $361/yr
• Insurance: −$69
• HOA: −$281
• Vacancy / Maint / Mgmt: −$416
• Net cashflow: $320

Break-even live

Break-even rent $1,576

Max offer price $165,000

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: $41,250
• Closing costs: $4,950
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
14033 Laramie Ave #408 Crestwood, IL	2.0	2.0	1100	$2,100	$1.91	8d	1	0.11mi
13615 Royal Ct #309 Crestwood, IL	2.0	2.0	1000	$1,850	$1.85	3d	1	0.54mi
14643 Lamon Ave Unit 2B Midlothian, IL	2.0	1.5	990	$1,525	$1.54	25d	1	0.98mi
14700 Central Ave Oak Forest, IL	1.0–2.0	1.0	775	$1,605	$2.07	25d	6	1.13mi
5723 129th St Crestwood, IL	2.0	1.0	950	$1,600	$1.68	1d	1	1.45mi

HOA detail condo

• Monthly dues: $281 · $3,372/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 2 events

1. 2026-06-17
   remarks 699-char remark
2. 2026-06-17
   listed $165,000 Active 1 DOM

ⓘ 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: $361 · $30/mo
• Projected year-2 tax: $2,053 · $171/mo
• Expected delta: +$1,692/yr (+$141/mo · 469.3%)

ⓘ 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) · 74% 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 3/10 Moderate 4 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,767
• − Mortgage interest: −$9,243
• − Property taxes: −$361
• − Insurance: −$825
• − Repairs & maintenance: −$1,901
• − Management: −$1,901
• − HOA: −$3,372
• − Depreciation: −$4,800
• Taxable income: $1,364
• Est. tax owed @ 24.0%: −$327
• After-tax cash flow: $3,508/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: Bremen Chsd 228
• NCES district ID: 1707050
• Math proficiency: 15% ▼ -4.00%
• Reading proficiency: 17% ▼ -5.00%
• Median HH income: $57,625
• Composite: 15.32/100
• National rank: #9327
• State rank: #468 of 620 in IL

Livability — Crestwood

• Score: 82/100
• State rank: #75
• US rank: #1220

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Crestwood, IL
• City population: 10,631
• Population (ZIP): 10,631

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 White (69%)
• Race & ethnicity: White 69% Hispanic / Latino 15% Black 12% Two or more races 7% Asian 2%
• Hispanic origin (detail): Mexican 13% Puerto Rican 1%
• Common ancestry: Romanian 13% Iranian 1% Armenian 1%
• Foreign-born: 12% · Canada
• Languages at home: 82% English-only · Spanish 11% Arabic 2% Russian/Polish/Slavic 2%

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: ▼ -205.44%
• Current HPI: 105.796
• 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

+83.3% since first listed

2 events — show timeline

• 2026-06-17 Listed $165,000 MRED as Distributed by MLS Grid
• 1997-08-08 Sold (Public Records) $90,000 Public Records

Property tax history

-10.0%/yr

Latest (2023): $361 · -26.9% YoY. Source: county tax records.