15541 6th Ave · Phoenix, IL 60426

$225,000

3 bd · 1.0 ba · 1,380 sqft · SingleFamily public records · 69 Days on market

Built 1958 Est $228k · at est.

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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 +28.0/30.0
• Appreciation +10.0/10.0
• DSCR +9.9/10.0
• ARV discount +8.0/15.0
• 1% rule +6.4/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +0.7/10.0

Listing remarks

Beautiful brick newly rehabbed ranched 3bedroom, 2bathroom home with a spacious master suite, concrete patio and enclosed backyard perfect for entertaining. Stainless steel appliances and washer and dryer included. This a must see! Backup Offers accepted.

Key facts

• 2 garage spots
• Built 1958
• Listed 69 days

Property features AI

Finance

• Financial info: Special service area: No
• HOA & community: No master association fee required

Exterior

• Parking: Detached garage; 2 garage spaces (2 total parking spaces)
• Utilities: Water: Lake Michigan; Public sewer
• Home design: Detached single-family home; One-story; Fee simple ownership; Rehab completed in 2019
• Construction: Brick construction; Built 61–70 years ago; Property built before 1978
• Exterior features: Lot less than 0.25 acre; Lot dimensions: 52227

Interior

• Kitchen: Kitchen (12 x 11)
• Bedrooms: 3 bedrooms (all on main level); Primary bedroom on main level with full bath attached; Second bedroom (12 x 12, main level); Third bedroom (10 x 12, main level)
• Bathrooms: 2 full bathrooms
• Heating & cooling: Natural gas heating; Central air conditioning
• Interior features: 5 total rooms; Dining room; Family room; Living room
• Laundry & utility: Main-level laundry (4 x 4)

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $225k.

Deal economics

• At list price, monthly cash flow is $698 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $225k).
• Recommended offer: $212k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 75/100 on livability (#230 in IL, #4,248 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, crime A-; Watch: health & safety C-, amenities F, employment F.
• 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.
• Zoned schools: Thornton Township High School (math 7% / reading 7%, grade F, #605 of 693 statewide, top 87%, 1,628 students, 0% FRL).
• Market conditions: 134 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 6,272 units permitted in Cook County in 2024 (4,658 in 5+ unit buildings).

Forward outlook

• In year one you build about $24k of equity ($2k loan paydown + $22k appreciation (10.0% local appreciation)).
• At projected returns (10.0% appreciation + 3.0% rent growth), your $63k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$39k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 69 days — a 6% lower offer ($212k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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: built in 1958 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $211,500 (6.0% below list)

Questions for the listing agent

1. It's been on market 69 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 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 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?
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: 1.14% ✓
• Cap rate: 10.02%
• Cash-on-cash: 13.29%
• DSCR: 1.59
• GRM: 7.3

CMA / ARV

• ARV (on-the-fly): $227,700
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
15711 Lowe Ave	0.30mi	3/1.5	1,404 (+2%)	2mo	$232,000	$165	80
34 E 159th St	0.64mi	3/1.5	1,378 (-0%)	2mo	$244,900	$178	66
910 E 152nd Pl	0.45mi	4/2.0 (+1)	1,349 (-2%)	0mo	$190,000	$141	66
536 E 155th St	0.35mi	4/2.0 (+1)	1,423 (+3%)	7mo	$245,000	$172	64
15243 3rd Ave	0.40mi	3/1.0	1,182 (-14%)	12mo	$40,000	$34	48
16140 Prairie Ave	0.75mi	3/2.0	1,325 (-4%)	8mo	$315,000	$238	48
15535 Dearborn St	0.64mi	4/2.5 (+1)	1,404 (+2%)	10mo	$236,500	$168	47
15536 State St	0.68mi	3/1.0	1,212 (-12%)	4mo	$140,000	$116	45
64 E 158th Pl	0.70mi	3/2.5	1,250 (-9%)	3mo	$185,000	$148	44
15554 State St	0.66mi	4/2.0 (+1)	1,442 (+4%)	11mo	$265,000	$184	43
15444 State St	0.74mi	3/2.5	1,254 (-9%)	2mo	$207,000	$165	42
14947 Riverside Dr	0.75mi	4/2.0 (+1)	1,491 (+8%)	6mo	$215,000	$144	38

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 34.0%
• Equity multiple: 3.65×
• Total profit: $166,887
• Equity at exit: $202,698

10-year hold

• IRR: 29.3%
• Equity multiple: 8.24×
• Total profit: $456,293
• Equity at exit: $437,126

Cash invested: $63,000 (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 60426

• Home prices YoY: 6.9%
• Active inventory: 134
• Price-to-rent: 7.3×

Monthly cashflow live

• Estimated rent: $2,559 medium
• Mortgage (P&I): −$1,180
• Tax from tax record: −$50 /mo · $598/yr
• Insurance: −$94
• HOA: −$0
• Vacancy / Maint / Mgmt: −$537
• Net cashflow: $698

Break-even live

Break-even rent $1,675

Max offer price $225,000

Occupancy floor 68%

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: $56,250
• Closing costs: $6,750
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
16048 Halsted St Unit 2 Harvey, IL	3.0	1.0	1091	$1,650	$1.51	24d	1	0.80mi
14844 Wabash Ave Dolton, IL	3.0	1.5	1277	$2,320	$1.82	24d	1	1.27mi
15509 Park Ln South Holland, IL	4.0	1.5	1200	$3,400	$2.83	7d	1	1.37mi
15509 Park Ln South Holland, IL	4.0	1.5	1200	$3,400	$2.83	24d	1	1.37mi

Listing history 17 events

1. 2026-06-18
   days on market $225,000 Active 69 DOM
2. 2026-06-17
   days on market $225,000 Active 68 DOM
3. 2026-06-16
   days on market $225,000 Active 67 DOM
4. 2026-06-15
   days on market $225,000 Active 66 DOM
5. 2026-06-13
   days on market $225,000 Active 64 DOM
6. 2026-06-13
   days on market $225,000 Active 63 DOM
7. 2026-06-09
   days on market $225,000 Active 60 DOM
8. 2026-06-08
   days on market $225,000 Active 59 DOM
9. 2026-06-07
   days on market $225,000 Active 58 DOM
10. 2026-06-04
    days on market $225,000 Active 55 DOM
11. 2026-06-03
    days on market $225,000 Active 54 DOM
12. 2026-06-02
    days on market $225,000 Active 53 DOM
13. 2026-06-01
    days on market $225,000 Active 52 DOM
14. 2026-05-31
    days on market $225,000 Active 51 DOM
15. 2026-05-12
    status Active
16. 2026-04-22
    historical Contingent - No Showings
17. 2026-04-10
    listed $225,000 Active

ⓘ 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: $598 · $50/mo
• Projected year-2 tax: $2,853 · $238/mo
• Expected delta: +$2,255/yr (+$188/mo · 376.9%)

ⓘ 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
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $30,705
• − Mortgage interest: −$12,603
• − Property taxes: −$598
• − Insurance: −$1,125
• − Repairs & maintenance: −$2,456
• − Management: −$2,456
• − Depreciation: −$6,545
• Taxable income: $4,920
• Est. tax owed @ 24.0%: −$1,181
• After-tax cash flow: $7,194/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 — Phoenix

• Score: 75/100
• State rank: #230
• US rank: #4248

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Phoenix, IL
• Population (ZIP): 23,066

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: Majority Black (59%)
• Race & ethnicity: Black 59% Hispanic / Latino 33% Two or more races 12% White 3% Asian 2%
• Hispanic origin (detail): Mexican 31%
• Foreign-born: 17% · Canada
• Languages at home: 67% English-only · Spanish 30% Other Indo-European 2% 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: ▲ 20.36%
• Current HPI: 313.7895
• 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

3 events — show timeline

• 2026-05-12 Relisted — MRED as Distributed by MLS Grid
• 2026-04-22 Contingent — MRED as Distributed by MLS Grid
• 2026-04-10 Listed $225,000 MRED as Distributed by MLS Grid

Property tax history

-13.1%/yr

Latest (2023): $598 · +20.7% YoY. Source: county tax records.