18446 Glen Oak Ave · Lansing, IL 60438

$145,000

3 bd · 1.5 ba · 1,279 sqft · SingleFamily public records · 112 Days on market

Built 1958 8,379 sqft lot Est $215k · 33% under

---

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 +24.7/30.0
• ARV discount +15.0/15.0
• DSCR +8.0/10.0
• 1% rule +6.4/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.0/10.0
• Appreciation +0.0/10.0

Listing remarks

Charming 3-Bedroom Ranch With Full Basement & 2-Car Garage! Welcome to this spacious 3-bedroom ranch offering comfortable one-level living plus a full basement for extra storage or future expansion. The home features a bright living room with plenty of natural light, an eat-in kitchen, and three well-sized bedrooms. The full basement provides additional flexibility-perfect for a recreation area, home gym, or workshop. Outside, you'll find a generous yard and a 2-car detached garage, ideal for parking and storage. Convenient location close to shopping, schools, and transportation. A great opportunity to make this home your own!

Key facts

• Generous yard
• Full basement
• Eat-in kitchen

Tags

• FULL BASEMENT
• EAT-IN KITCHEN
• GENEROUS YARD
• DETACHED GARAGE
• CONVENIENT LOCATION

Property features AI

Finance

• HOA & community: No master association fee required; Neighborhood has sidewalks and street lights

Exterior

• Parking: Detached garage on concrete (2 garage spaces, 2 total parking spaces)
• Utilities: Public water; Public sewer
• Home design: Detached single-family home; One-story
• Construction: Vinyl siding; Asphalt roof; Block foundation; Built 61–70 years ago; Built before 1978
• Exterior features: Corner lot; Chain-link fenced yard

Interior

• Kitchen: Kitchen on main level (8 x 11); Range; Refrigerator; Ceramic tile in kitchen
• Bedrooms: Master bedroom on main level (11 x 14) with half bath; Two additional main-level bedrooms (10 x 13 and 10 x 11)
• Flooring: Hardwood flooring throughout main living areas; Ceramic tile in kitchen
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Natural gas heating
• Interior features: First-floor bedroom; First-floor full bath; Unfinished full basement; 6 total rooms; Hardwood flooring in main living areas
• Laundry & utility: Dedicated laundry room

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $145k.

Deal economics

• At list price, monthly cash flow is $301 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $145k).
• Recommended offer: $132k (9.0% below list) — sets the bar for market timing.
• Cap rate 8.8% vs local median 5.8% in Lansing — 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 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; 11 comparable units currently listed for rent nearby; rentals leasing fast (median 10d 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 $4k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 112 days — a 9% lower offer ($132k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $20k (12%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $100k; 45% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1958 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $131,950 (9.0% below list)

Questions for the listing agent

1. It's been on market 112 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1958 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
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: 1.14% ✓
• Cap rate: 8.79%
• Cash-on-cash: 8.91%
• DSCR: 1.40
• GRM: 7.3

CMA / ARV

• ARV (on-the-fly): $214,872
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
18518 Glen Oak Ave	0.06mi	4/2.0 (+1)	1,338 (+5%)	6mo	$257,000	$192	78
2454 184th St	0.14mi	4/2.0 (+1)	1,286 (+0%)	10mo	$206,000	$160	77
18429 Arcadia Ave	0.10mi	4/2.0 (+1)	1,350 (+6%)	6mo	$265,000	$196	74
2621 Ridge Rd	0.42mi	4/2.0 (+1)	1,323 (+3%)	2mo	$216,000	$163	66
18202 Locust St	0.46mi	3/1.5	1,366 (+7%)	7mo	$185,000	$135	62
18032 Wildwood Ave	0.75mi	3/1.5	1,224 (-4%)	1mo	$170,000	$139	57
17958 Escanaba Ave	0.67mi	3/1.5	1,236 (-3%)	9mo	$207,500	$168	56
17949 Escanaba Ave	0.69mi	3/1.0	1,188 (-7%)	1mo	$149,000	$125	53
18240 Wildwood Ave	0.58mi	3/2.0	1,400 (+10%)	6mo	$264,000	$189	51
17909 Rose St	0.75mi	3/2.0	1,147 (-10%)	0mo	$230,000	$201	46
18036 Oakley Ave	0.57mi	4/2.5 (+1)	1,176 (-8%)	6mo	$273,000	$232	46
2316 Thornton Lansing Rd	0.62mi	3/1.0	1,104 (-14%)	10mo	$144,900	$131	38

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: -2.8%
• Equity multiple: 0.89×
• Total profit: $-4,281
• Equity at exit: $21,620

10-year hold

• IRR: 6.9%
• Equity multiple: 1.52×
• Total profit: $21,085
• Equity at exit: $12,537

Cash invested: $40,600 (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: 7.3×

Monthly cashflow live

• Estimated rent: $1,650 high
• Mortgage (P&I): −$760
• Tax est. 1.5%: −$181 /mo · $2,175/yr
• Insurance: −$60
• HOA: −$0
• Vacancy / Maint / Mgmt: −$346
• Net cashflow: $301

Break-even live

Break-even rent $1,268

Max offer price $145,000

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: $36,250
• Closing costs: $4,350
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
18550 Torrence Ave #25 Lansing, IL	2.0	1.0	1000	$1,300	$1.30	11d	1	0.08mi
18381 Torrence Ave Lansing, IL	2.0	1.0	900	$1,300	$1.44	24d	1	0.16mi
18361 Glen Oak Ave Unit 1E Lansing, IL	2.0	1.0	900	$1,400	$1.56	24d	1	0.19mi
2824 186th St Lansing, IL	3.0	2.0	1400	$2,900	$2.07	10d	1	0.55mi
18343 Oakwood Ave Lansing, IL	4.0	2.0	1700	$2,700	$1.59	1d	1	0.63mi
17723 Exchange Ave Unit 17723-1N Lansing, IL	3.0	2.0	1100	$1,800	$1.64	1d	1	1.03mi
17640 Rosewood Dr Unit 2A Lansing, IL	2.0	1.0	950	$1,475	$1.55	17d	1	1.12mi
3020 178th St Apt C7 Lansing, IL	2.0	1.0	900	$1,550	$1.72	24d	1	1.18mi
3020 178th St Unit C1 Lansing, IL	2.0	1.0	900	$1,550	$1.72	1d	1	1.18mi
3341 S Schultz Dr Lansing, IL	4.0	2.0	1452	$2,250	$1.55	10d	1	1.19mi
18335 Sherman St Unit 3 Lansing, IL	3.0	1.0	1000	$1,700	$1.70	1d	1	1.33mi

Listing history 20 events

1. 2026-06-18
   days on market $145,000 Active 112 DOM
2. 2026-06-17
   days on market $145,000 Active 111 DOM
3. 2026-06-16
   days on market $145,000 Active 110 DOM
4. 2026-06-15
   days on market $145,000 Active 109 DOM
5. 2026-06-13
   days on market $145,000 Active 107 DOM
6. 2026-06-09
   pricedays on market $145,000 Active 103 DOM
7. 2026-06-08
   days on market $150,000 Active 102 DOM
8. 2026-06-07
   days on market $150,000 Active 101 DOM
9. 2026-06-04
   days on market $150,000 Active 98 DOM
10. 2026-06-03
    days on market $150,000 Active 97 DOM
11. 2026-06-02
    days on market $150,000 Active 96 DOM
12. 2026-06-01
    days on market $150,000 Active 95 DOM
13. 2026-05-31
    days on market $150,000 Active 94 DOM
14. 2026-05-08
    price $150,000
15. 2026-04-11
    price $155,000
16. 2026-02-26
    listed $165,000 Active
17. 2025-11-07
    historical Contingent - Continue to Show
18. 2025-10-29
    historical
19. 2025-10-03
    listed Active
20. 2004-01-21
    soldstatus $100,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 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 4 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,798
• − Mortgage interest: −$8,122
• − Property taxes: −$2,175
• − Insurance: −$725
• − Repairs & maintenance: −$1,584
• − Management: −$1,584
• − Depreciation: −$4,218
• Taxable income: $1,390
• Est. tax owed @ 24.0%: −$334
• After-tax cash flow: $3,282/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

+50.0% since first listed

7 events — show timeline

• 2026-05-08 Price Changed $150,000 MRED as Distributed by MLS Grid
• 2026-04-11 Price Changed $155,000 MRED as Distributed by MLS Grid
• 2026-02-26 Listed $165,000 MRED as Distributed by MLS Grid
• 2025-11-07 Contingent — MRED as Distributed by MLS Grid
• 2025-10-29 Listing Removed — MRED as Distributed by MLS Grid
• 2025-10-03 Listed — MRED as Distributed by MLS Grid
• 2004-01-21 Sold (Public Records) $100,000 Public Records

Property tax history

+4.9%/yr

Latest (2023): $8,072 · +30.2% YoY. Source: county tax records.