15915 Cottage Grove Ave · South Holland, IL 60473

$239,900

3 bd · 1.0 ba · 1,526 sqft · SingleFamily public records · 86 Days on market

Built 1951 5,000 sqft lot Est $233k · at est.

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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 +25.3/30.0
• DSCR +8.3/10.0
• 1% rule +7.8/10.0
• ARV discount +6.3/15.0
• Livability +3.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +0.7/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Investor special! Charming two-story home that sits on a garden oasis deep lot with a wooded backyard. Formal Living Room/Dining Room. Home has so much potential for the right investor. There is a loft upstairs for added room (potential to add 2nd bathroom upstairs). Please note there is no basement. Homes need complete rehab. Sold as-is. No survey

Key facts

• Close to parks
• Wooded backyard
• Close to schools

Tags

• WOODED BACKYARD
• CLOSE TO PARKS
• CLOSE TO SCHOOLS
• CLOSE TO SHOPPING

Property features AI

Finance

• Other: Possession negotiable; Earnest money held; Some rehab work noted (2025)
• HOA & community: No master association fee required

Exterior

• Parking: Detached garage (owned); Asphalt driveway; 2 parking spaces (2 garage spaces)
• Utilities: Public water; Public sewer; 100 amp electric service
• Home design: Detached single-family home; 2-story layout; Fee simple ownership; Rehab completed in 2025; Estimated living area
• Construction: Frame construction; Built approximately 71–80 years ago; Property was built before 1978
• Exterior features: 50 x 100 lot (less than 0.25 acre); Directions: 162nd St to Cottage Grove, north to address

Interior

• Kitchen: Range; Dishwasher; Refrigerator
• Bedrooms: 3 bedrooms (including a second-floor primary/ master bedroom); Second-floor bedroom approx. 13 x 11; Second-floor bedroom approx. 12 x 9; Second-floor master bedroom approx. 12 x 12
• Bathrooms: 2 full bathrooms
• Heating & cooling: Natural gas heating; Central air conditioning
• Interior features: 7 rooms total; Eating area/table space in kitchen
• Laundry & utility: Dedicated laundry room

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $240k.

Deal economics

• At list price, monthly cash flow is $544 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $240k).
• Recommended offer: $226k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 77/100 on livability (#167 in IL, #3,071 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, housing A+, cost of living A; Watch: crime C-, amenities C-, schools D+.
• 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: 135 active listings in the ZIP; 8 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 $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 86 days — a 6% lower offer ($226k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 19y 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 $105k; list at $240k implies a 128% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 2.6% of price; built in 1951 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $225,506 (6.0% below list)

Questions for the listing agent

1. It's been on market 86 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1951 — 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 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?
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: 1.28% ✓
• Cap rate: 9.02%
• Cash-on-cash: 9.72%
• DSCR: 1.43
• GRM: 6.5

CMA / ARV

• ARV (on-the-fly): $233,478
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1012 E 159th Pl	0.26mi	3/2.0	1,600 (+5%)	1mo	$190,000	$119	75
15547 Drexel Ave	0.44mi	3/2.5	1,600 (+5%)	2mo	$187,500	$117	64
702 E 162nd Pl	0.41mi	3/2.0	1,400 (-8%)	1mo	$230,000	$164	62
746 E 157th St	0.29mi	4/2.0 (+1)	1,403 (-8%)	3mo	$180,000	$128	62
15554 S Park Ave	0.69mi	3/2.0	1,530 (+0%)	4mo	$300,000	$196	60
16211 Joyce Cir	0.51mi	3/2.0	1,424 (-7%)	3mo	$239,000	$168	58
16080 Marion Dr	0.29mi	4/2.0 (+1)	1,700 (+11%)	1mo	$290,000	$171	58
15439 University Ave	0.71mi	3/1.5	1,428 (-6%)	1mo	$250,000	$175	54
615 E 156th Pl	0.35mi	3/2.0	1,300 (-15%)	2mo	$198,650	$153	54
686 E 155th St	0.58mi	2/1.0 (-1)	1,400 (-8%)	2mo	$157,000	$112	53
15518 Maple St	0.65mi	4/2.0 (+1)	1,345 (-12%)	1mo	$120,000	$89	40
943 E 164th Ct	0.67mi	4/3.0 (+1)	1,652 (+8%)	3mo	$185,000	$112	39

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -1.6%
• Equity multiple: 0.94×
• Total profit: $-4,024
• Equity at exit: $35,770

10-year hold

• IRR: 8.2%
• Equity multiple: 1.62×
• Total profit: $41,891
• Equity at exit: $20,742

Cash invested: $67,172 (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 60473

• Active inventory: 135
• Price-to-rent: 6.5×

Monthly cashflow live

• Estimated rent: $3,078 high
• Mortgage (P&I): −$1,258
• Tax from tax record: −$529 /mo · $6,353/yr
• Insurance: −$100
• HOA: −$0
• Vacancy / Maint / Mgmt: −$646
• Net cashflow: $544

Break-even live

Break-even rent $2,389

Max offer price $239,900

Occupancy floor 77%

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: $59,975
• Closing costs: $7,197
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
16246 Dobson Ave South Holland, IL	3.0	2.0	1250	$3,170	$2.54	1d	1	0.50mi
16001 Avalon Ave South Holland, IL	3.0	2.0	1136	$3,330	$2.93	6d	1	0.53mi
15509 Park Ln South Holland, IL	4.0	1.5	1200	$3,400	$2.83	7d	1	0.60mi
15509 Park Ln South Holland, IL	4.0	1.5	1200	$3,400	$2.83	24d	1	0.60mi
15707 Dante Dr South Holland, IL	3.0	2.0	1800	$2,950	$1.64	2d	1	0.82mi
15231 Hastings Dr Dolton, IL	4.0	1.5	1487	$2,146	$1.44	7d	1	0.96mi
14916 Langley Ave Dolton, IL	3.0	1.5	1418	$2,500	$1.76	24d	1	1.24mi
15400 Merrill Ave South Holland, IL	4.0	2.0	1508	$3,330	$2.21	22d	1	1.47mi

Listing history 29 events

1. 2026-06-18
   days on market $239,900 Active 86 DOM
2. 2026-06-17
   days on market $239,900 Active 85 DOM
3. 2026-06-16
   days on market $239,900 Active 84 DOM
4. 2026-06-15
   days on market $239,900 Active 83 DOM
5. 2026-06-13
   days on market $239,900 Active 81 DOM
6. 2026-06-13
   days on market $239,900 Active 80 DOM
7. 2026-06-09
   days on market $239,900 Active 77 DOM
8. 2026-06-08
   days on market $239,900 Active 76 DOM
9. 2026-06-07
   days on market $239,900 Active 75 DOM
10. 2026-06-04
    days on market $239,900 Active 72 DOM
11. 2026-06-03
    days on market $239,900 Active 71 DOM
12. 2026-06-02
    days on market $239,900 Active 70 DOM
13. 2026-06-01
    days on market $239,900 Active 69 DOM
14. 2026-05-31
    days on market $239,900 Active 68 DOM
15. 2026-05-16
    price $239,900
16. 2026-03-24
    listed $245,000 Active
17. 2026-02-28
    historical
18. 2026-02-09
    price
19. 2026-01-05
    listed Active
20. 2024-08-07
    soldstatus $105,000
21. 2024-08-05
    soldstatus $105,000 Closed 352-char remark

    Show marketing remark (352 chars)

    Investor special! Charming two-story home that sits on a garden oasis deep lot with a wooded backyard. Formal Living Room/Dining Room. Home has so much potential for the right investor. There is a loft upstairs for added room (potential to add 2nd bathroom upstairs). Please note there is no basement. Homes need complete rehab. Sold as-is. No survey

22. 2024-06-25
    status Pending 352-char remark

    Show marketing remark (352 chars)

    Investor special! Charming two-story home that sits on a garden oasis deep lot with a wooded backyard. Formal Living Room/Dining Room. Home has so much potential for the right investor. There is a loft upstairs for added room (potential to add 2nd bathroom upstairs). Please note there is no basement. Homes need complete rehab. Sold as-is. No survey

23. 2024-06-12
    listed $98,000 Active 352-char remark

    Show marketing remark (352 chars)

    Investor special! Charming two-story home that sits on a garden oasis deep lot with a wooded backyard. Formal Living Room/Dining Room. Home has so much potential for the right investor. There is a loft upstairs for added room (potential to add 2nd bathroom upstairs). Please note there is no basement. Homes need complete rehab. Sold as-is. No survey

24. 2007-11-02
    soldstatus $111,000
25. 2007-10-30
    soldstatus $111,000
26. 2007-09-27
    historical
27. 2007-07-31
    listed $114,900
28. 1983-11-10
    soldstatus $38,000
29. 1983-11-10
    soldstatus $38,000

ⓘ 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: $6,353 · $529/mo
• Projected year-2 tax: $6,353 · $529/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 5/10 Major FEMA zone X (shaded) · 24% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥103°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: $36,937
• − Mortgage interest: −$13,438
• − Property taxes: −$6,353
• − Insurance: −$1,200
• − Repairs & maintenance: −$2,955
• − Management: −$2,955
• − Depreciation: −$6,979
• Taxable income: $3,057
• Est. tax owed @ 24.0%: −$734
• After-tax cash flow: $5,797/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 — South Holland

• Score: 77/100
• State rank: #167
• US rank: #3071

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: South Holland, IL
• City population: 21,407
• Population (ZIP): 21,407

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 (75%)
• Race & ethnicity: Black 75% White 10% Hispanic / Latino 10% Two or more races 3% Asian 1%
• Hispanic origin (detail): Mexican 9% Puerto Rican 1%
• Common ancestry: Iranian 3% Romanian 2%
• Foreign-born: 6% · Canada, China
• Languages at home: 87% English-only · Spanish 8% Other Asian/Pacific 1% Russian/Polish/Slavic 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: ▼ -114.36%
• Current HPI: 201.2479
• 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

+531.3% since first listed

15 events — show timeline

• 2026-05-16 Price Changed $239,900 MRED as Distributed by MLS Grid
• 2026-03-24 Listed $245,000 MRED as Distributed by MLS Grid
• 2026-02-28 Listing Removed — MRED as Distributed by MLS Grid
• 2026-02-09 Price Changed — MRED as Distributed by MLS Grid
• 2026-01-05 Listed — MRED as Distributed by MLS Grid
• 2024-08-07 Sold (Public Records) $105,000 Public Records
• 2024-08-05 Sold (MLS) $105,000 MRED as Distributed by MLS Grid
• 2024-06-25 Pending — MRED as Distributed by MLS Grid
• 2024-06-12 Listed $98,000 MRED as Distributed by MLS Grid
• 2007-11-02 Sold (Public Records) $111,000 Public Records
• 2007-10-30 Sold (MLS) $111,000 MRED as Distributed by MLS Grid
• 2007-09-27 Listing Removed — MRED as Distributed by MLS Grid
• 2007-07-31 Listed $114,900 MRED as Distributed by MLS Grid
• 1983-11-10 Sold (Public Records) $38,000 Public Records
• 1983-11-10 Sold (Public Records) $38,000 Public Records

Property tax history

+1.7%/yr

Latest (2023): $6,353 · +41.7% YoY. Source: county tax records.