72 E 152nd St

Harvey, IL 60426

$35,000C-

4 bd · 2.0 ba · 1,664 sqft · Built 1918 · MultiFamily · Active · 223 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $3,669/mo
• Mortgage (P&I): −$184
• Tax + insurance: −$251
• HOA: −$0
• Vac / Maint / Mgmt: −$770
• Net cashflow: $2,464/mo
• Annual: $29,571/yr
• Cap rate: 97.38%
• Cash-on-cash: 325.30%
• DSCR: 15.47
• 1% rule: 10.48%
• Cash to close: $9,800

Investor read

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $35k.
• At list price, monthly cash flow is $2k ($30k/yr) — positive. Per door: $1k/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $35k).
• It's been on market 223 days — a 12% lower offer ($31k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $31k (12.0% below list) — sets the bar for market timing.
• In year one you build about $4k of equity ($242 loan paydown + $4k appreciation (10.0% local appreciation)).
• Location reads 67/100 on livability (#539 in IL) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A-; Watch: health & safety D+, schools F, crime 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.
• Watch-outs: flood insurance adds $192/mo; built in 1918 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 134 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 6,272 units permitted in Cook County in 2024 (4,658 in 5+ unit buildings).
• 4 sale attempts since 17y ago; this cycle's ask has dropped $10k (22%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $14k; list at $35k implies a 150% gain — meaningful room to come down on a strong offer.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $10k cash investment doubles in ~1 year — after that, you're playing with house money.
• By year 8, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: in FEMA flood zone AH (mandatory federal flood insurance) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 97.4% vs local median 9.3% in Harvey — 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.

Questions for listing agent

• It's been on market 223 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
• What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
• Built in 1918 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?