98 W 154th St · Harvey, IL 60426

$280,000

9 bd · 4.5 ba · 4,336 sqft · MultiFamily public records · 80 Days on market

Built 2010 3,125 sqft lot ↓ 7% since listing

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +0.7/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 3 units. confirmed

Listing remarks

Cash-flowing 3-unit property generating approximately $4,800 per month. Built in 2010, this well-maintained building features spacious 3-bedroom, 2-bath units, with furnaces and water heaters in great condition. Two units are currently vacant, offering immediate rental upside, while one unit is occupied by a month-to-month tenant, providing flexibility for investors or owner-occupants. One unit requires some TLC, creating a great value-add opportunity. Finished units must be viewed in person to fully appreciate the condition and layout. Conveniently located near I-294 and the University of Chicago Hospital. Property is being sold as-is.

Key facts

• 3 unit property
• Rental upside
• Conveniently located

Tags

• 3 UNIT PROPERTY
• RENTAL UPSIDE
• VALUE ADD OPPORTUNITY
• CONVENIENTLY LOCATED

Property features AI

Finance

• Other: Three-unit building (total units: 3); Possession at closing
• Financial info: Special service area: No

Exterior

• Parking: Two owned parking spaces
• Utilities: Water from Lake Michigan and public supply; Public sewer
• Home design: Two- to four-unit property; Fee simple ownership; Approximately 16–20 years old; Brick construction
• Construction: Brick exterior
• Exterior features: Lot dimensions approximately 25 x 125; Lot smaller than 0.25 acre

Interior

• Kitchen: Each unit includes a stove and refrigerator
• Bedrooms: Nine total bedrooms; Three 3-bedroom units in the building
• Bathrooms: Six full bathrooms
• Heating & cooling: Natural gas heating
• Interior features: 24 total rooms; Unfinished/partial basement
• Laundry & utility: Tenant utilities vary by unit (some pay electric, gas, heat; others pay nothing)

What this means for you Summary

Snapshot

• This is a 3 × 3-bed/2.0-bath units multifamily listed at $280k.

Deal economics

• At list price, monthly cash flow is $2k ($30k/yr) — positive. Per door: $826/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($6k rent vs $280k).
• Recommended offer: $263k (6.0% below list) — sets the bar for market timing.
• Cap rate 16.9% 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.

Location & tenants

• 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+, crime F, amenities 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: Rosa L Parks Middle School (319 students, 0% FRL); Thornton Township High School (math 7% / reading 7%, grade F, #605 of 693 statewide, top 87%, 1,628 students, 0% FRL).
• Market conditions: 133 active listings in the ZIP; 6,272 units permitted in Cook County in 2024 (4,658 in 5+ unit buildings).

Forward outlook

• In year one you build about $30k of equity ($2k loan paydown + $28k appreciation (10.0% local appreciation)).
• At projected returns (10.0% appreciation + 3.0% rent growth), your $78k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$48k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 80 days — a 6% lower offer ($263k) is reasonable based on typical stale-listing flexibility.
• 9 sale attempts since 11y ago; this cycle's ask has dropped $20k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $263,200 (6.0% below list)

Questions for the listing agent

1. It's been on market 80 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.99% ✓
• Cap rate: 16.91%
• Cash-on-cash: 37.92%
• DSCR: 2.69
• GRM: 4.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 53.5%
• Equity multiple: 4.96×
• Total profit: $310,350
• Equity at exit: $252,246

10-year hold

• IRR: 47.1%
• Equity multiple: 11.08×
• Total profit: $790,027
• Equity at exit: $543,978

Cash invested: $78,400 (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: 133
• Price-to-rent: 12.5×

Monthly cashflow live

• Estimated rent: $5,585 medium
• Mortgage (P&I): −$1,468
• Tax est. 1.5%: −$350 /mo · $4,200/yr
• Insurance: −$117
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,173
• Net cashflow: $2,477

Break-even live

Break-even rent $2,449

Max offer price $280,000

Occupancy floor 51%

Sensitivity live

Price	-10% $2,671	-5% $2,574	+0% $2,477	+5% $2,380	+10% $2,284
Rent	-10% $2,036	-5% $2,257	+0% $2,477	+5% $2,698	+10% $2,918
Rate	-1.0pp $2,618	-0.5pp $2,548	base $2,477	+0.5pp $2,405	+1.0pp $2,331

3-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 3× units	3	2	$5,586
Total (3 units)			$5,585

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: $70,000
• Closing costs: $8,400
• Reserves months: —
• Total cash needed: —

Listing history 43 events

1. 2026-06-21
   days on market $280,000 Active 80 DOM
2. 2026-06-18
   days on market $280,000 Active 77 DOM
3. 2026-06-17
   days on market $280,000 Active 76 DOM
4. 2026-06-16
   days on market $280,000 Active 75 DOM
5. 2026-06-15
   days on market $280,000 Active 74 DOM
6. 2026-06-13
   days on market $280,000 Active 72 DOM
7. 2026-06-13
   days on market $280,000 Active 71 DOM
8. 2026-06-09
   days on market $280,000 Active 68 DOM
9. 2026-06-08
   days on market $280,000 Active 67 DOM
10. 2026-06-07
    days on market $280,000 Active 66 DOM
11. 2026-06-04
    days on market $280,000 Active 63 DOM
12. 2026-06-03
    days on market $280,000 Active 62 DOM
13. 2026-06-02
    days on market $280,000 Active 61 DOM
14. 2026-06-01
    days on market $280,000 Active 60 DOM
15. 2026-05-31
    days on market $280,000 Active 59 DOM
16. 2026-04-21
    price $280,000
17. 2026-04-04
    price $299,999
18. 2026-04-02
    listed $299,900 Active
19. 2026-03-17
    historical
20. 2026-01-21
    price
21. 2025-12-30
    status Active
22. 2025-11-18
    historical Contingent - Continue to Show
23. 2025-10-30
    listed Active
24. 2025-09-30
    historical
25. 2025-05-22
    status Active
26. 2025-04-25
    historical Contingent - Continue to Show
27. 2025-01-31
    status Active
28. 2025-01-21
    historical Contingent - No Showings
29. 2025-01-10
    price
30. 2025-01-10
    price
31. 2024-05-06
    listed Active
32. 2017-01-11
    historical
33. 2016-12-27
    status Reactivated
34. 2016-12-02
    historical Contingent
35. 2016-11-10
    price
36. 2016-11-04
    price
37. 2016-10-28
    price
38. 2016-10-16
    price
39. 2016-10-10
    price
40. 2016-10-04
    listed New
41. 2015-12-31
    historical
42. 2015-09-16
    price
43. 2015-08-07
    listed New

ⓘ 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 4/10 Moderate FEMA zone X (unshaded) · 22% 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 3/10 Moderate 4 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $67,020
• − Mortgage interest: −$15,684
• − Property taxes: −$4,200
• − Insurance: −$1,400
• − Repairs & maintenance: −$5,362
• − Management: −$5,362
• − Depreciation: −$8,145
• Taxable income: $26,867
• Est. tax owed @ 24.0%: −$6,448
• After-tax cash flow: $23,278/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 — Harvey

• Score: 67/100
• State rank: #539
• US rank: #11162

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Harvey, IL
• City population: 23,066
• 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

-6.6% since first listed

28 events — show timeline

• 2026-04-21 Price Changed $280,000 MRED as Distributed by MLS Grid
• 2026-04-04 Price Changed $299,999 MRED as Distributed by MLS Grid
• 2026-04-02 Listed $299,900 MRED as Distributed by MLS Grid
• 2026-03-17 Listing Removed — MRED as Distributed by MLS Grid
• 2026-01-21 Price Changed — MRED as Distributed by MLS Grid
• 2025-12-30 Relisted — MRED as Distributed by MLS Grid
• 2025-11-18 Contingent — MRED as Distributed by MLS Grid
• 2025-10-30 Listed — MRED as Distributed by MLS Grid
• 2025-09-30 Listing Removed — MRED as Distributed by MLS Grid
• 2025-05-22 Relisted — MRED as Distributed by MLS Grid
• 2025-04-25 Contingent — MRED as Distributed by MLS Grid
• 2025-01-31 Relisted — MRED as Distributed by MLS Grid
• 2025-01-21 Contingent — MRED as Distributed by MLS Grid
• 2025-01-10 Price Changed — MRED as Distributed by MLS Grid
• 2025-01-10 Price Changed — MRED as Distributed by MLS Grid
• 2024-05-06 Listed — MRED as Distributed by MLS Grid
• 2017-01-11 Listing Removed — MRED as Distributed by MLS Grid
• 2016-12-27 Relisted — MRED as Distributed by MLS Grid
• 2016-12-02 Contingent — MRED as Distributed by MLS Grid
• 2016-11-10 Price Changed — MRED as Distributed by MLS Grid
• 2016-11-04 Price Changed — MRED as Distributed by MLS Grid
• 2016-10-28 Price Changed — MRED as Distributed by MLS Grid
• 2016-10-16 Price Changed — MRED as Distributed by MLS Grid
• 2016-10-10 Price Changed — MRED as Distributed by MLS Grid
• 2016-10-04 Listed — MRED as Distributed by MLS Grid
• 2015-12-31 Listing Removed — MRED as Distributed by MLS Grid
• 2015-09-16 Price Changed — MRED as Distributed by MLS Grid
• 2015-08-07 Listed — MRED as Distributed by MLS Grid

Property tax history

-2.0%/yr

Latest (2023): $14,188 · -4.2% YoY. Source: county tax records.