505 W Joe Orr Rd · Chicago Heights, IL 60411

$119,900

3 bd · 1.0 ba · 1,100 sqft · SingleFamily public records · 19 Days on market

Built 1955 7,860 sqft lot Est $207k · 42% under

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Why this score? — see what drove the B+ 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 +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Rent growth +4.1/5.0
• Livability +3.6/5.0
• Condition / age +2.5/5.0
• Schools +2.4/10.0
• Appreciation +0.0/10.0

Listing remarks

Opportunity awaits with this 3-bedroom ranch offering solid potential for the right buyer. This home features a full finished basement, providing additional living space perfect for a recreation room, home office, or extended living arrangement. A detached 1 car garage offers convenient parking and extra storage. This property does require repairs and updating and is being sold strictly AS-IS. No surveys or disclosures will be provided. Bring your vision and make this home your next project. This property is being sold AS-IS, property is lender-owned and US Bank is making no representations or warranties" "U. S. Bank NA may have financing options available usbank/home-loans/mort

Key facts

• 7,860 sq ft lot
• Garage
• Built 1955

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $120k.

Deal economics

• At list price, monthly cash flow is $489 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $120k).
• Recommended offer: $118k (1.5% below list) — sets the bar for market timing.
• Cap rate 11.2% vs local median 6.4% in Chicago Heights — 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 71/100 on livability (#339 in IL) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: employment C-, schools F, crime F.
• Homewood Flossmoor Chsd 233 (suburban): math 21% / reading 27% proficiency, ranked #272 of 620 in IL (top 44%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: Rents rising fast (+6.5%/yr); 222 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals leasing fast (median 3d on market — plan ~1-2 weeks tenant-placement turnaround); 6,272 units permitted in Cook County in 2024 (4,658 in 5+ unit buildings).
• This rent runs 36% of the median local income ($62k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $829 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 6.5% rent growth), your $34k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 19 days — a 2% lower offer ($118k) is reasonable based on typical stale-listing flexibility.
• 4 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.

Risks & watch-outs

• Watch-outs: property tax is 3.1% of price; built in 1955 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $118,101 (1.5% below list)

Questions for the listing agent

1. Built in 1955 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are F-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. 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: 1.56% ✓
• Cap rate: 11.19%
• Cash-on-cash: 17.49%
• DSCR: 1.78
• GRM: 5.4

CMA / ARV

• ARV (on-the-fly): $206,800
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
505 W Joe Orr Rd	0.00mi	3/1.0	1,100 (0%)	0mo	$108,000	$98	100
431 Longwood Dr	0.19mi	3/2.0	1,111 (+1%)	1mo	$250,000	$225	84
613 Saratoga Dr	0.26mi	3/2.0	1,088 (-1%)	6mo	$200,000	$184	77
733 Ashland Ave	0.45mi	3/1.5	1,143 (+4%)	4mo	$200,000	$175	67
319 N Bradley Dr	0.48mi	3/2.0	1,176 (+7%)	0mo	$250,000	$213	62
607 Enterprise Rd	0.13mi	3/2.5	1,265 (+15%)	2mo	$160,000	$126	62
430 N Arquilla Dr	0.71mi	3/1.0	1,074 (-2%)	4mo	$192,700	$179	60
420 Carey Ct	0.41mi	3/1.5	1,215 (+10%)	5mo	$242,000	$199	58
417 Westgate Ave	0.71mi	3/1.5	1,148 (+4%)	7mo	$249,900	$218	52
920 Theresa Ln	0.65mi	2/1.0 (-1)	1,014 (-8%)	0mo	$190,000	$187	51
702 Willow Dr	0.56mi	3/2.0	1,249 (+14%)	3mo	$235,000	$188	45
1915 Tina Ln	0.68mi	4/2.5 (+1)	1,260 (+14%)	0mo	$280,000	$222	32

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 · 6.48% rent growth · sell at horizon

5-year hold

• IRR: 13.3%
• Equity multiple: 1.56×
• Total profit: $18,633
• Equity at exit: $17,877

10-year hold

• IRR: 25.0%
• Equity multiple: 3.58×
• Total profit: $86,691
• Equity at exit: $10,367

Cash invested: $33,572 (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 60411

• Home prices YoY: -33.9%
• Rents YoY: 6.5%
• Active inventory: 222
• Price-to-rent: 5.4×

Monthly cashflow live

• Estimated rent: $1,867 high
• Mortgage (P&I): −$629
• Tax from tax record: −$307 /mo · $3,679/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$392
• Net cashflow: $489

Break-even live

Break-even rent $1,247

Max offer price $119,900

Occupancy floor 69%

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: $29,975
• Closing costs: $3,597
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1267 Division St Unit 1267 Chicago Heights, IL	3.0	1.5	1200	$1,500	$1.25	1d	1	0.91mi
398 W Lincoln Hwy Unit 4 Chicago Heights, IL	3.0	2.0	1200	$1,850	$1.54	1d	1	1.08mi
370 E 17th St Chicago Heights, IL	3.0	1.0	1058	$2,600	$2.46	17d	1	1.46mi
417 W Hickory St Unit 2 Chicago Heights, IL	3.0	1.0	900	$1,800	$2.00	20d	1	1.47mi
83 W 15th St #1 Chicago Heights, IL	3.0	1.0	1050	$1,500	$1.43	3d	1	1.49mi
444 Hickory St Unit 2A Chicago Heights, IL	3.0	1.0	900	$1,695	$1.88	1d	1	1.49mi
436 W Hickory St Unit Na Chicago Heights, IL	3.0	1.0	1091	$1,800	$1.65	1d	1	1.49mi
432 Hickory St Unit 2 Chicago Heights, IL	3.0	1.0	1200	$1,800	$1.50	20d	1	1.49mi

Listing history 10 events

1. 2026-04-27
   status Pending
2. 2026-04-08
   listed $119,900 Active
3. 2026-03-16
   status Pending
4. 2026-03-16
   historical
5. 2026-02-23
   listed Active
6. 2012-11-02
   historical
7. 2012-09-30
   price Price Change
8. 2012-06-13
   listed New
9. 2009-11-21
   historical
10. 2009-06-23
    listed

ⓘ 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: $3,679 · $307/mo
• Projected year-2 tax: $3,679 · $307/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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥101°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,401
• − Mortgage interest: −$6,716
• − Property taxes: −$3,679
• − Insurance: −$600
• − Repairs & maintenance: −$1,792
• − Management: −$1,792
• − Depreciation: −$3,488
• Taxable income: $4,334
• Est. tax owed @ 24.0%: −$1,040
• After-tax cash flow: $4,833/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: Homewood Flossmoor Chsd 233
• NCES district ID: 1719560
• Math proficiency: 21% ▼ -15.00%
• Reading proficiency: 27% ▼ -13.00%
• Median HH income: $83,564
• Composite: 24.42/100
• National rank: #7681
• State rank: #272 of 620 in IL

Livability — Chicago Heights

• Score: 71/100
• State rank: #339
• US rank: #6836

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Chicago Heights, IL
• County: Cook County · 4,486,803 people
• City population: 52,175
• Metro: Chicago-Naperville-Elgin, IL-IN-WI
• Population (ZIP): 52,175
• Household income: $62,073
• Rent vs Own: 34.8% rent · 65.2% own
• Severe rent burden: 1714.0

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 0.66)
• Race & ethnicity: Black 49% Hispanic / Latino 26% White 19% Two or more races 11%
• Hispanic origin (detail): Mexican 22% Puerto Rican 2%
• Common ancestry: Romanian 4% Portuguese 1% Lithuanian 1%
• Foreign-born: 12% · Canada
• Languages at home: 76% English-only · Spanish 21% Russian/Polish/Slavic 1% 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: ▼ -108.75%
• Current HPI: 212.4058
• Rent YoY: ▲ 6.48%
• 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

10 events — show timeline

• 2026-04-27 Pending — MRED as Distributed by MLS Grid
• 2026-04-08 Listed $119,900 MRED as Distributed by MLS Grid
• 2026-03-16 Pending — MRED as Distributed by MLS Grid
• 2026-03-16 Listing Removed — MRED as Distributed by MLS Grid
• 2026-02-23 Listed — MRED as Distributed by MLS Grid
• 2012-11-02 Listing Removed — MRED as Distributed by MLS Grid
• 2012-09-30 Price Changed — MRED as Distributed by MLS Grid
• 2012-06-13 Listed — MRED as Distributed by MLS Grid
• 2009-11-21 Listing Removed — MRED as Distributed by MLS Grid
• 2009-06-23 Listed — MRED as Distributed by MLS Grid

Property tax history

+4.7%/yr

Latest (2023): $3,679 · +54.8% YoY. Source: county tax records.