17241 Greenbay Ave · Lansing, IL 60438

$104,900

2 bd · 1.0 ba · 945 sqft · SingleFamily public records · 12 Days on market

Built 1953 5,600 sqft lot Est $165k · 37% under

---

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 +24.2/30.0
• ARV discount +15.0/15.0
• 1% rule +9.6/10.0
• DSCR +7.8/10.0
• 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

3 Bedroom Brick Ranch in desirable Lansing - Seller says SELL! Featuring a newer roof, newer A/C, and newer furnace for added peace of mind. Enjoy the convenience of a side drive and a fully fenced backyard complete with a storage shed. Great opportunity for homeowners or investors alike. Don't miss your chance - this home won't last long!

Key facts

• Newer furnace
• Shed
• Newer roof

Tags

• NEWER ROOF
• NEWER A/C
• NEWER FURNACE
• FULLY FENCED YARD
• SIDE DRIVE
• SHED

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $105k.

Deal economics

• At list price, monthly cash flow is $210 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $105k).
• Cap rate 8.7% 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: crime D+, health & safety D+, amenities F.
• 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.
• Zoned schools: Thornton Fractnl So High School (math 11% / reading 14%, grade F, #504 of 693 statewide, top 73%, 1,927 students, 0% FRL).
• Market conditions: 132 active listings in the ZIP; 12 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 $725 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.

Negotiation context

• Only 12 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: property tax is 4.6% of price; built in 1953 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $104,900

Questions for the listing agent

1. Built in 1953 — 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 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?
5. 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?
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: 1.46% ✓
• Cap rate: 8.70%
• Cash-on-cash: 8.58%
• DSCR: 1.38
• GRM: 5.7

CMA / ARV

• ARV (on-the-fly): $165,375
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
17222 Roy St	0.16mi	2/1.0	945 (0%)	1mo	$149,900	$159	92
17157 Chicago Ave	0.21mi	3/1.0 (+1)	931 (-2%)	4mo	$179,800	$193	79
1554 Burnham Ave	0.45mi	2/1.0	945 (0%)	2mo	$125,000	$132	78
17115 Park Ave	0.22mi	3/1.0 (+1)	1,030 (+9%)	2mo	$179,999	$175	68
3137 176th St	0.43mi	3/1.0 (+1)	980 (+4%)	2mo	$190,000	$194	68
17130 Park Ave	0.21mi	2/1.0	806 (-15%)	7mo	$155,000	$192	60
17557 Burnham Ave	0.41mi	3/1.0 (+1)	1,008 (+7%)	7mo	$189,900	$188	59
17053 Lorenz Ave	0.24mi	3/1.0 (+1)	1,070 (+13%)	4mo	$120,000	$112	59
3346 Bernice Rd	0.30mi	3/1.5 (+1)	1,056 (+12%)	7mo	$155,000	$147	54
17617 Burnham Ave	0.46mi	2/1.0	812 (-14%)	2mo	$130,100	$160	53
17831 Walter St	0.75mi	2/1.0	854 (-10%)	1mo	$185,900	$218	49
1481 Lincoln Pl	0.72mi	3/1.5 (+1)	1,047 (+11%)	6mo	$85,000	$81	36

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: -3.1%
• Equity multiple: 0.88×
• Total profit: $-3,429
• Equity at exit: $15,641

10-year hold

• IRR: 6.8%
• Equity multiple: 1.51×
• Total profit: $15,015
• Equity at exit: $9,070

Cash invested: $29,372 (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: 5.7×

Monthly cashflow live

• Estimated rent: $1,528 high
• Mortgage (P&I): −$550
• Tax from tax record: −$403 /mo · $4,838/yr
• Insurance: −$44
• HOA: −$0
• Vacancy / Maint / Mgmt: −$321
• Net cashflow: $210

Break-even live

Break-even rent $1,262

Max offer price $104,900

Occupancy floor 81%

Sensitivity live

Price	-10% $555	-5% $240	+0% $210	+5% $180	+10% $151
Rent	-10% $89	-5% $150	+0% $210	+5% $270	+10% $331
Rate	-1.0pp $263	-0.5pp $237	base $210	+0.5pp $183	+1.0pp $155

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: $26,225
• Closing costs: $3,147
• Reserves months: —
• Total cash needed: —

Rent comps 12 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3069 Bernice Rd Apt 2N Lansing, IL	3.0	1.0	950	$1,535	$1.62	21d	1	0.24mi
3069 Bernice Rd Apt 2S Lansing, IL	3.0	1.0	950	$1,535	$1.62	3d	1	0.24mi
3023 Bernice Rd Apt 2S Lansing, IL	3.0	1.0	1000	$1,600	$1.60	1d	1	0.27mi
3020 178th St Unit C1 Lansing, IL	2.0	1.0	900	$1,550	$1.72	1d	1	0.70mi
3020 178th St Apt C7 Lansing, IL	2.0	1.0	900	$1,550	$1.72	25d	1	0.70mi
3649 173rd Ct Lansing, IL	2.0	2.0	972	$1,357	$1.40	25d	1	0.71mi
1539 Wentworth Ave Unit 3W Calumet City, IL	3.0	1.0	1100	$1,700	$1.55	12d	1	0.72mi
17723 Exchange Ave Unit 17723-1N Lansing, IL	3.0	2.0	1100	$1,800	$1.64	1d	1	0.85mi
1338 Wentworth Ave Unit 1338 Calumet City, IL	2.0	1.0	800	$1,430	$1.79	25d	1	1.08mi
2441 Indiana Ave Lansing, IL	1.0	1.0	600	$975	$1.62	4d	1	1.41mi
2441 Indiana Ave Unit 2N Lansing, IL	1.0	1.0	600	$975	$1.62	13d	1	1.41mi
18335 Sherman St Unit 3 Lansing, IL	3.0	1.0	1000	$1,700	$1.70	1d	1	1.50mi

Listing history 4 events

1. 2026-06-02
   statusdays on market $104,900 Pending 12 DOM
2. 2026-06-01
   days on market $104,900 Active 11 DOM
3. 2026-05-31
   days on market $104,900 Active 10 DOM
4. 2026-05-21
   listed $104,900 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: $4,838 · $403/mo
• Projected year-2 tax: $4,838 · $403/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 4/10 Moderate FEMA zone X (shaded) · 24% 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 5 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,336
• − Mortgage interest: −$5,876
• − Property taxes: −$4,838
• − Insurance: −$524
• − Repairs & maintenance: −$1,467
• − Management: −$1,467
• − Depreciation: −$3,052
• Taxable income: $1,111
• Est. tax owed @ 24.0%: −$267
• After-tax cash flow: $2,254/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

1 event — show timeline

• 2026-05-21 Listed $104,900 MRED as Distributed by MLS Grid

Property tax history

+4.2%/yr

Latest (2023): $4,838 · +6.6% YoY. Source: county tax records.