17948 Henry St · Lansing, IL 60438

$190,000

2 bd · 1.0 ba · 1,056 sqft · SingleFamily public records · 15 Days on market

Built 1949 Est $176k · 8% over

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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).

• Cash flow +15.8/30.0
• DSCR +4.9/10.0
• ARV discount +4.0/15.0
• Livability +3.7/5.0
• 1% rule +3.3/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Totally remodeled home. NEW roof, windows, multi-level deck, furnace, A/C, trim & doors, crown molding, landscaping, front porch, bamboo HW flooring, shutter & awning, kitchen cabnts, counter tops, stainless steel dishwasher, stove, microwave/hood, crptng, tub, shower, toilet, sink, mirror, tile flrs. L/R has bay wndw, freshly painted inside. Walking distance to downtown Lansing. Taxes don't reflect Homeowners ded.

Key facts

• Bay window
• Newer cabinetry
• Crown molding

Tags

• BAMBOO HARDWOOD FLOORING
• SPACIOUS LIVING ROOM
• BAY WINDOW
• CROWN MOLDING
• NEWER CABINETRY
• STAINLESS STEEL APPLIANCES

Property features AI

Finance

• Other: Directions: Burnham Ave to 178th St., East to Henry St., South to property.
• HOA & community: No master association fee required

Exterior

• Parking: Detached garage (1 garage space, 1 total parking space)
• Utilities: Water: Lake Michigan; Public sewer
• Home design: Detached single-family home; Two-story; Fee simple ownership; Rehab completed in 2010; Built before 1978
• Construction: Vinyl siding; Estimated living area; Rehab year 2010
• Exterior features: Lot smaller than 0.25 acre; Lot dimensions: 2980

Interior

• Kitchen: Kitchen on main level (11 x 12)
• Bedrooms: 2 bedrooms; Master bedroom on second floor (12 x 18); Second bedroom on second floor (10 x 11)
• Flooring: Bamboo flooring in living room, dining room and kitchen
• Bathrooms: 1 full bathroom
• Heating & cooling: Natural gas heating; Central air conditioning
• Interior features: Five total rooms; Unfinished full basement; School bus service
• Laundry & utility: Laundry room

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $190k.

Deal economics

• At list price, monthly cash flow is $86 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $159k (16.6% below list).
• Recommended offer: $159k (16.6% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 73/100 on livability (#296 in IL) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: schools D+, crime D+, health & safety D+.
• Thornton Fractional Twp Hsd 215 (suburban): math 9% / reading 13% proficiency, ranked #563 of 620 in IL (top 91%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 132 active listings in the ZIP; 14 comparable units currently listed for rent nearby; rentals leasing fast (median 13d on market — plan ~1-2 weeks tenant-placement turnaround); 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 $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 15 days — a 2% lower offer ($187k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 17y 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 $108k; list at $190k implies a 76% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1949 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $158,545 (16.6% below list)

Questions for the listing agent

1. Built in 1949 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. Crime grade is D 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?
5. 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?
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: 0.83% ✗
• Cap rate: 6.84%
• Cash-on-cash: 1.95%
• DSCR: 1.09
• GRM: 10.0

CMA / ARV

• ARV (on-the-fly): $176,352
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3522 Washington St	0.20mi	3/1.0 (+1)	1,080 (+2%)	3mo	$180,000	$167	80
3535 Washington St	0.24mi	3/2.0 (+1)	1,024 (-3%)	1mo	$275,000	$269	74
18316 Sherman St	0.49mi	3/1.0 (+1)	1,056 (0%)	4mo	$130,000	$123	69
3423 Adams St	0.11mi	3/2.0 (+1)	1,149 (+9%)	5mo	$195,000	$170	67
17821 Roy St	0.20mi	3/1.0 (+1)	1,188 (+12%)	1mo	$117,500	$99	64
3137 176th St	0.55mi	3/1.0 (+1)	980 (-7%)	2mo	$190,000	$194	56
17919 School St	0.73mi	2/1.0	1,094 (+4%)	6mo	$179,900	$164	55
17518 Roy St	0.58mi	2/1.0	1,200 (+14%)	1mo	$160,000	$133	50
18275 Ada St	0.42mi	3/1.5 (+1)	910 (-14%)	1mo	$213,000	$234	49
18013 Park Ave	0.41mi	3/2.0 (+1)	1,200 (+14%)	3mo	$180,000	$150	46
17526 Shirley Dr	0.59mi	3/1.5 (+1)	1,175 (+11%)	3mo	$120,000	$102	44
7741 Hohman Ave	0.72mi	2/1.0	1,193 (+13%)	4mo	$230,000	$193	42

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: -13.2%
• Equity multiple: 0.52×
• Total profit: $-25,350
• Equity at exit: $28,330

10-year hold

• IRR: -4.4%
• Equity multiple: 0.71×
• Total profit: $-15,257
• Equity at exit: $16,428

Cash invested: $53,200 (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 60438

• Active inventory: 132
• Price-to-rent: 10.0×

Monthly cashflow live

• Estimated rent: $1,585 high
• Mortgage (P&I): −$996
• Tax from tax record: −$91 /mo · $1,086/yr
• Insurance: −$79
• HOA: −$0
• Vacancy / Maint / Mgmt: −$333
• Net cashflow: $86

Break-even live

Break-even rent $1,476

Max offer price $190,000

Occupancy floor 90%

Sensitivity live

Price	-10% $194	-5% $140	+0% $86	+5% $33	+10% $-21
Rent	-10% $-39	-5% $24	+0% $86	+5% $149	+10% $212
Rate	-1.0pp $182	-0.5pp $135	base $86	+0.5pp $37	+1.0pp $-13

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: $47,500
• Closing costs: $5,700
• Reserves months: —
• Total cash needed: —

Rent comps 14 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3020 178th St Unit C1 Lansing, IL	2.0	1.0	900	$1,550	$1.72	2d	1	0.52mi
3020 178th St Apt C7 Lansing, IL	2.0	1.0	900	$1,550	$1.72	25d	1	0.52mi
18335 Sherman St Unit 3 Lansing, IL	3.0	1.0	1000	$1,700	$1.70	2d	1	0.56mi
3069 Bernice Rd Apt 2N Lansing, IL	3.0	1.0	950	$1,535	$1.62	21d	1	0.79mi
3069 Bernice Rd Apt 2S Lansing, IL	3.0	1.0	950	$1,535	$1.62	3d	1	0.79mi
3023 Bernice Rd Apt 2S Lansing, IL	3.0	1.0	1000	$1,600	$1.60	2d	1	0.82mi
3649 173rd Ct Lansing, IL	2.0	2.0	972	$1,357	$1.40	25d	1	0.84mi
17723 Exchange Ave Unit 17723-1N Lansing, IL	3.0	2.0	1100	$1,800	$1.64	2d	1	0.89mi
2824 186th St Lansing, IL	3.0	2.0	1400	$2,900	$2.07	11d	1	1.01mi
18361 Glen Oak Ave Unit 1E Lansing, IL	2.0	1.0	900	$1,400	$1.56	25d	1	1.25mi
18381 Torrence Ave Lansing, IL	2.0	1.0	900	$1,300	$1.44	25d	1	1.32mi
1539 Wentworth Ave Unit 3W Calumet City, IL	3.0	1.0	1100	$1,700	$1.55	13d	1	1.40mi
18440 Torrence Ave Lansing, IL	2.0	1.0	800	$1,200	$1.50	25d	1	1.41mi
18550 Torrence Ave #25 Lansing, IL	2.0	1.0	1000	$1,300	$1.30	12d	1	1.46mi

Listing history 10 events

1. 2026-06-18
   days on market $190,000 Active 15 DOM
2. 2026-06-17
   days on market $190,000 Active 14 DOM
3. 2026-06-16
   days on market $190,000 Active 13 DOM
4. 2026-06-15
   days on market $190,000 Active 12 DOM
5. 2026-06-13
   days on market $190,000 Active 10 DOM
6. 2026-06-09
   days on market $190,000 Active 6 DOM
7. 2026-06-08
   days on market $190,000 Active 5 DOM
8. 2026-06-07
   days on market $190,000 Active 4 DOM
9. 2026-06-04
   remarks 699-char remark
10. 2026-06-04
    listed $190,000 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: $1,086 · $91/mo
• Projected year-2 tax: $2,700 · $225/mo
• Expected delta: +$1,613/yr (+$134/mo · 148.5%)

ⓘ 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 ≥102°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 5 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,025
• − Mortgage interest: −$10,643
• − Property taxes: −$1,086
• − Insurance: −$950
• − Repairs & maintenance: −$1,522
• − Management: −$1,522
• − Depreciation: −$5,527
• Taxable loss: −$2,225
• Est. tax savings @ 24.0%: +$534
• After-tax cash flow: $1,571/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 Fractional Twp Hsd 215
• NCES district ID: 1738940
• Math proficiency: 9% ▼ -3.00%
• Reading proficiency: 13% ▼ -3.00%
• Median HH income: $48,207
• Composite: 10.27/100
• National rank: #9793
• State rank: #563 of 620 in IL

Livability — Lansing

• Score: 73/100
• State rank: #296
• US rank: #5698

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lansing, IL
• County: Cook County · 4,486,803 people
• City population: 28,806
• Metro: Chicago-Naperville-Elgin, IL-IN-WI
• Population (ZIP): 28,806
• Household income: $75,681
• Rent vs Own: 27.7% rent · 72.3% own
• Severe rent burden: 830.0

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 0.65)
• Race & ethnicity: Black 51% White 25% Hispanic / Latino 18% Two or more races 7% Asian 2%
• Hispanic origin (detail): Mexican 15%
• Common ancestry: Romanian 5% Iranian 3% Lithuanian 1%
• Foreign-born: 10% · Canada
• Languages at home: 83% English-only · Spanish 12% Vietnamese 1% French/Haitian/Cajun 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: ▼ -151.65%
• Current HPI: 210.3398
• Rent YoY: —
• 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

+136.0% since first listed

21 events — show timeline

• 2026-06-02 Listed $190,000 MRED as Distributed by MLS Grid
• 2010-11-09 Sold (Public Records) $108,000 Public Records
• 2010-10-15 Sold (MLS) $108,000 MRED as Distributed by MLS Grid
• 2010-08-19 Contingent — MRED as Distributed by MLS Grid
• 2010-06-30 Listed $109,900 MRED as Distributed by MLS Grid
• 2010-04-05 Sold (MLS) $28,000 NIRA MLS as Distributed by MLS Grid
• 2010-04-01 Sold (MLS) $28,000 MRED as Distributed by MLS Grid
• 2010-03-19 Pending — MRED as Distributed by MLS Grid
• 2010-02-26 Price Changed $30,900 MRED as Distributed by MLS Grid
• 2010-02-05 Price Changed $35,900 MRED as Distributed by MLS Grid
• 2010-01-07 Price Changed $38,900 MRED as Distributed by MLS Grid
• 2009-12-14 Price Changed $43,900 MRED as Distributed by MLS Grid
• 2009-12-03 Listed $30,900 NIRA MLS as Distributed by MLS Grid
• 2009-12-02 Listed $48,900 MRED as Distributed by MLS Grid
• 2009-12-01 Listing Removed — NIRA MLS as Distributed by MLS Grid
• 2009-12-01 Listing Removed — MRED as Distributed by MLS Grid
• 2009-10-27 Price Changed — MRED as Distributed by MLS Grid
• 2009-10-03 Price Changed — MRED as Distributed by MLS Grid
• 2009-09-08 Listed $48,900 NIRA MLS as Distributed by MLS Grid
• 2009-09-01 Listed — MRED as Distributed by MLS Grid
• 1993-05-17 Sold (Public Records) $80,500 Public Records

Property tax history

-7.8%/yr

Latest (2023): $1,086 · +2.4% YoY. Source: county tax records.