2412 High St · Blue Island, IL 60406

$200,000

6 bd · 3.0 ba · 2,808 sqft · MultiFamily public records · 159 Days on market

Built 1886 3,920 sqft lot

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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 +29.9/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.6/10.0
• Appreciation +0.0/10.0

Multi-family units

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

Listing remarks MLS

Wonderful investment opportunity! This solidly built 2 unit is gutted and ready for you to bring your ideas to make it fabulous. Great location! CLOSE TO EVERYTHING!!! Shopping, Hospital, Schools, Train, Bus, and Expressway. BUILDING SOLD AS-IS. SILK STOCKING DISTRICT!! Seller financing available.

Key facts

• Great location
• Solidly built
• 3,920 sq ft lot

Tags

• SOLIDLY BUILT
• GREAT LOCATION
• SILK STOCKING DISTRICT

What this means for you Summary

Snapshot

• This is a 2 × 1-bed/1-bath units multifamily listed at $200k.

Deal economics

• At list price, monthly cash flow is $738 ($9k/yr) — positive. Per door: $369/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $200k).
• Recommended offer: $176k (12.0% below list) — sets the bar for market timing.
• Cap rate 10.7% vs local median 6.5% in Blue Island — 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 77/100 on livability (#159 in IL, #2,964 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: employment C-, schools F, crime F.
• Chsd 218 (suburban): math 14% / reading 20% proficiency, ranked #454 of 620 in IL (top 73%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 43 active listings in the ZIP; 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 $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $56k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 159 days — a 12% lower offer ($176k) is reasonable based on typical stale-listing flexibility.
• 24 sale attempts since 12y 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.
• Current owner paid $146k; 37% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: property tax is 3.7% of price; built in 1886 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $176,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 159 days. Have you received any prior offers? Is the seller open to a 12% 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. Built in 1886 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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?
10. 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.
11. 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.
12. 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: 1.57% ✓
• Cap rate: 10.72%
• Cash-on-cash: 15.82%
• DSCR: 1.70
• GRM: 5.3

CMA / ARV

• ARV (median comp): $502,588
• List price: $200,000
• Delta: -60.21%
• Verdict: UNDERPRICED
• Comps: 8 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 6.8%
• Equity multiple: 1.27×
• Total profit: $14,889
• Equity at exit: $29,821

10-year hold

• IRR: 16.2%
• Equity multiple: 2.33×
• Total profit: $74,625
• Equity at exit: $17,292

Cash invested: $56,000 (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 60406

• Home prices YoY: -26.8%
• Active inventory: 43
• Price-to-rent: 10.6×

Monthly cashflow live

• Estimated rent: $3,148 high
• Mortgage (P&I): −$1,049
• Tax from tax record: −$616 /mo · $7,397/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$661
• Net cashflow: $738

Break-even live

Break-even rent $2,213

Max offer price $200,000

Occupancy floor 72%

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

Units	Beds	Baths	Est. rent
▸ 2× units	1	1	$3,148
Total (2 units)			$3,148

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: $50,000
• Closing costs: $6,000
• Reserves months: —
• Total cash needed: —

Listing history 50 events

1. 2026-06-18
   days on market $200,000 Active 159 DOM
2. 2026-06-17
   days on market $200,000 Active 158 DOM
3. 2026-06-16
   days on market $200,000 Active 157 DOM
4. 2026-06-15
   days on market $200,000 Active 156 DOM
5. 2026-06-13
   days on market $200,000 Active 154 DOM
6. 2026-06-09
   days on market $200,000 Active 150 DOM
7. 2026-06-08
   days on market $200,000 Active 149 DOM
8. 2026-06-07
   days on market $200,000 Active 148 DOM
9. 2026-06-04
   days on market $200,000 Active 145 DOM
10. 2026-06-03
    days on market $200,000 Active 144 DOM
11. 2026-06-02
    days on market $200,000 Active 143 DOM
12. 2026-06-01
    days on market $200,000 Active 142 DOM
13. 2026-05-31
    days on market $200,000 Active 141 DOM
14. 2026-04-09
    status Active 302-char remark

    Show marketing remark (302 chars)

    Wonderful investment opportunity! This solidly built 2 unit is gutted and ready for you to bring your ideas to make it fabulous. Great location! CLOSE TO EVERYTHING!!! Shopping, Hospital, Schools, Train, Bus, and Expressway. BUILDING SOLD AS-IS. SILK STOCKING DISTRICT!! Seller financing available.

15. 2026-04-08
    historical 302-char remark

    Show marketing remark (302 chars)

    Wonderful investment opportunity! This solidly built 2 unit is gutted and ready for you to bring your ideas to make it fabulous. Great location! CLOSE TO EVERYTHING!!! Shopping, Hospital, Schools, Train, Bus, and Expressway. BUILDING SOLD AS-IS. SILK STOCKING DISTRICT!! Seller financing available.

16. 2026-01-08
    listed $200,000 Active 302-char remark

    Show marketing remark (302 chars)

    Wonderful investment opportunity! This solidly built 2 unit is gutted and ready for you to bring your ideas to make it fabulous. Great location! CLOSE TO EVERYTHING!!! Shopping, Hospital, Schools, Train, Bus, and Expressway. BUILDING SOLD AS-IS. SILK STOCKING DISTRICT!! Seller financing available.

17. 2025-09-04
    historical
18. 2019-11-14
    historical
19. 2019-10-24
    soldstatus $146,000 Closed Sale
20. 2019-10-22
    status Pending
21. 2019-10-01
    historical Contingent
22. 2019-10-01
    historical
23. 2019-08-07
    status Reactivated
24. 2019-08-07
    status Reactivated
25. 2019-08-06
    historical
26. 2019-08-06
    historical
27. 2019-05-14
    listed New
28. 2019-05-06
    listed $179,000 New
29. 2019-05-06
    listed New
30. 2019-02-28
    historical
31. 2019-02-28
    historical
32. 2019-02-20
    price
33. 2019-02-20
    price
34. 2019-01-13
    price
35. 2019-01-13
    price
36. 2018-06-28
    listed New
37. 2018-06-28
    listed New
38. 2018-06-23
    historical
39. 2018-06-23
    historical
40. 2018-05-23
    listed New
41. 2018-05-23
    listed New
42. 2018-04-08
    historical
43. 2018-02-06
    listed New
44. 2017-11-20
    historical
45. 2017-11-20
    historical
46. 2017-09-02
    status Reactivated
47. 2017-09-02
    status Reactivated
48. 2017-08-11
    historical Contingent
49. 2017-08-09
    historical Contingent
50. 2017-07-05
    listed New

ⓘ 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: $7,397 · $616/mo
• Projected year-2 tax: $7,397 · $616/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 · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $37,776
• − Mortgage interest: −$11,203
• − Property taxes: −$7,397
• − Insurance: −$1,000
• − Repairs & maintenance: −$3,022
• − Management: −$3,022
• − Depreciation: −$5,818
• Taxable income: $6,313
• Est. tax owed @ 24.0%: −$1,515
• After-tax cash flow: $7,345/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: Chsd 218
• NCES district ID: 1706540
• Math proficiency: 14% ▼ -4.00%
• Reading proficiency: 20% ▼ -1.00%
• Median HH income: $57,166
• Composite: 16.09/100
• National rank: #9235
• State rank: #454 of 620 in IL

Livability — Blue Island

• Score: 77/100
• State rank: #159
• US rank: #2964

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Blue Island, IL
• City population: 24,887
• Population (ZIP): 24,887

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: Hispanic / Latino 44% Black 34% White 19% Two or more races 8%
• Hispanic origin (detail): Mexican 39%
• Common ancestry: Romanian 2% English 1% Iranian 1%
• Foreign-born: 19% · Canada
• Languages at home: 65% English-only · Spanish 33% 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: ▼ -94.77%
• Current HPI: 259.492
• 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

+300.8% since first listed

60 events — show timeline

• 2026-04-09 Relisted — MRED as Distributed by MLS Grid
• 2026-04-08 Listing Removed — MRED as Distributed by MLS Grid
• 2026-01-08 Listed $200,000 MRED as Distributed by MLS Grid
• 2025-09-04 Listing Removed — MRED as Distributed by MLS Grid
• 2019-11-14 Listing Removed — MRED as Distributed by MLS Grid
• 2019-10-24 Sold (MLS) $146,000 MRED as Distributed by MLS Grid
• 2019-10-22 Pending — MRED as Distributed by MLS Grid
• 2019-10-01 Contingent — MRED as Distributed by MLS Grid
• 2019-10-01 Listing Removed — MRED as Distributed by MLS Grid
• 2019-08-07 Relisted — MRED as Distributed by MLS Grid
• 2019-08-07 Relisted — MRED as Distributed by MLS Grid
• 2019-08-06 Listing Removed — MRED as Distributed by MLS Grid
• 2019-08-06 Listing Removed — MRED as Distributed by MLS Grid
• 2019-05-14 Listed — MRED as Distributed by MLS Grid
• 2019-05-06 Listed — MRED as Distributed by MLS Grid
• 2019-05-06 Listed $179,000 MRED as Distributed by MLS Grid
• 2019-02-28 Listing Removed — MRED as Distributed by MLS Grid
• 2019-02-28 Listing Removed — MRED as Distributed by MLS Grid
• 2019-02-20 Price Changed — MRED as Distributed by MLS Grid
• 2019-02-20 Price Changed — MRED as Distributed by MLS Grid
• 2019-01-13 Price Changed — MRED as Distributed by MLS Grid
• 2019-01-13 Price Changed — MRED as Distributed by MLS Grid
• 2018-06-28 Listed — MRED as Distributed by MLS Grid
• 2018-06-28 Listed — MRED as Distributed by MLS Grid
• 2018-06-23 Listing Removed — MRED as Distributed by MLS Grid
• 2018-06-23 Listing Removed — MRED as Distributed by MLS Grid
• 2018-05-23 Listed — MRED as Distributed by MLS Grid
• 2018-05-23 Listed — MRED as Distributed by MLS Grid
• 2018-04-08 Listing Removed — MRED as Distributed by MLS Grid
• 2018-02-06 Listed — MRED as Distributed by MLS Grid
• 2017-11-20 Listing Removed — MRED as Distributed by MLS Grid
• 2017-11-20 Listing Removed — MRED as Distributed by MLS Grid
• 2017-09-02 Relisted — MRED as Distributed by MLS Grid
• 2017-09-02 Relisted — MRED as Distributed by MLS Grid
• 2017-08-11 Contingent — MRED as Distributed by MLS Grid
• 2017-08-09 Contingent — MRED as Distributed by MLS Grid
• 2017-07-05 Listed — MRED as Distributed by MLS Grid
• 2017-07-05 Listed — MRED as Distributed by MLS Grid
• 2017-07-01 Listing Removed — MRED as Distributed by MLS Grid
• 2017-07-01 Listing Removed — MRED as Distributed by MLS Grid
• 2017-03-17 Listed — MRED as Distributed by MLS Grid
• 2017-03-17 Listed — MRED as Distributed by MLS Grid
• 2017-01-13 Listing Removed — MRED as Distributed by MLS Grid
• 2017-01-13 Listing Removed — MRED as Distributed by MLS Grid
• 2016-10-15 Listed — MRED as Distributed by MLS Grid
• 2016-10-15 Listed — MRED as Distributed by MLS Grid
• 2015-05-14 Sold (Public Records) $27,500 Public Records
• 2015-05-07 Sold (MLS) $27,500 MRED as Distributed by MLS Grid
• 2015-04-09 Pending — MRED as Distributed by MLS Grid
• 2015-03-06 Listed $49,900 MRED as Distributed by MLS Grid
• 2015-03-06 Listing Removed — MRED as Distributed by MLS Grid
• 2015-01-29 Price Changed — MRED as Distributed by MLS Grid
• 2014-12-04 Listed — MRED as Distributed by MLS Grid
• 2014-12-03 Listing Removed — MRED as Distributed by MLS Grid
• 2014-09-10 Listed — MRED as Distributed by MLS Grid
• 2014-09-10 Listing Removed — MRED as Distributed by MLS Grid
• 2014-08-06 Listing Removed — MRED as Distributed by MLS Grid
• 2014-08-06 Listed — MRED as Distributed by MLS Grid
• 2014-08-05 Contingent — MRED as Distributed by MLS Grid
• 2014-06-16 Price Changed — MRED as Distributed by MLS Grid

Property tax history

+1.5%/yr

Latest (2023): $7,397 · -8.5% YoY. Source: county tax records.