7609 Lockwood Ave · Burbank, IL 60459

$269,900

3 bd · 1.0 ba · 983 sqft · SingleFamily public records · 64 Days on market

Built 1957 4,138 sqft lot Est $258k · at est.

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Why this score? — see what drove the D 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 +14.8/30.0
• ARV discount +5.3/15.0
• 1% rule +4.8/10.0
• DSCR +4.5/10.0
• Livability +3.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.8/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Your perfect white picket fence home is here! Great starter home remodeled back in 2015, 3 bedrooms with plenty of closet space and 1 bathroom. Kitchen has newer stainless steel appliances and ample room for a dining room set. Living room and bedrooms all have hardwood flooring. Laundry room equipped with washer and dryer, with easy access to the backyard. Yard has room for your summer patio set for your entertainment needs. Fully fenced home from front to back. 2 car garage with plenty of storage available. LOW TAXES. Walking distance to schools, parks and shopping centers nearby. Do not hesitate to make an offer today.

Key facts

• Kitchen
• White picket fence
• Family room

Tags

• FRONT YARD
• WHITE PICKET FENCE
• FAMILY ROOM
• KITCHEN
• LAUNDRY AND UTILITY ROOM
• FULLY FENCED BACKYARD

Property features AI

Finance

• Other: Not currently leased; Possession at closing
• HOA & community: No master association fee required

Exterior

• Parking: Detached garage (2 garage spaces, 2 total parking spaces)
• Utilities: Water from Lake Michigan and public supply; Public sewer and storm sewer; Electric with circuit breakers
• Home design: Detached single-family home; One-story layout; Fee simple ownership; Built before 1978 (house is 61–70 years old)
• Construction: Brick, cedar, and clad trim exterior; Assessor-sourced living area
• Exterior features: Patio; Lot dimensions approximately 33 x 125

Interior

• Kitchen: Kitchen on main level (14 x 12) with ceramic tile flooring
• Bedrooms: Master bedroom on main level (13 x 12) with hardwood floors; Bedroom on main level (12 x 11) with hardwood floors; Bedroom on main level (10 x 10) with hardwood floors
• Flooring: Hardwood flooring in bedrooms and other rooms as noted; Ceramic tile in kitchen and laundry
• Bathrooms: One full bathroom
• Heating & cooling: Natural gas forced-air heating; Central air conditioning
• Interior features: Five total rooms; Crawl space basement
• Laundry & utility: Laundry room on main level (10 x 8) with ceramic tile flooring

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $270k.

Deal economics

• At list price, monthly cash flow is $74 ($888/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $265k (1.8% below list).
• Recommended offer: $254k (6.0% below list) — sets the bar for market timing.
• Cap rate 6.6% vs local median 5.3% in Burbank — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

Location & tenants

• Location reads 78/100 on livability (#132 in IL, #2,422 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, housing A+, employment A-; Watch: health & safety C-, amenities F.
• Reavis Twp Hsd 220 (suburban): math 18% / reading 21% proficiency, ranked #420 of 620 in IL (top 68%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: J B Kennedy Elem School (math 17% / reading 17%, grade F, #1,141 of 2,056 statewide, top 59%, 227 students, 0% FRL); Liberty Junior High School (math 12% / reading 17%, grade F, #517 of 665 statewide, top 79%, 1,190 students, 0% FRL); Reavis High School (math 18% / reading 21%, grade F, #397 of 693 statewide, top 61%, 1,986 students, 0% FRL).
• Market conditions: 55 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 24d 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

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 64 days — a 6% lower offer ($254k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 11y 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 $210k; 29% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1957 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $253,706 (6.0% below list)

Questions for the listing agent

1. It's been on market 64 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 1957 — 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 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?
6. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
7. 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.
8. 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.
9. 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: 0.98% ✗
• Cap rate: 6.62%
• Cash-on-cash: 1.18%
• DSCR: 1.05
• GRM: 8.5

CMA / ARV

• ARV (on-the-fly): $257,546
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
7616 S Lorel Ave	0.10mi	3/1.0	1,009 (+3%)	8mo	$220,000	$218	84
5301 State Rd	0.21mi	3/2.0	1,027 (+4%)	10mo	$275,000	$268	70
7701 Latrobe Ave	0.16mi	3/1.0	1,087 (+11%)	7mo	$285,000	$262	69
7927 Lotus Ave	0.49mi	2/1.0 (-1)	996 (+1%)	7mo	$240,000	$241	64
5145 State Rd	0.15mi	2/1.0 (-1)	840 (-14%)	1mo	$215,000	$256	63
7814 Major Ave	0.60mi	3/1.0	1,056 (+7%)	0mo	$285,000	$270	59
7824 Lavergne Ave	0.44mi	3/1.0	1,056 (+7%)	9mo	$242,500	$230	59
7650 Lavergne Ave	0.35mi	3/1.0	874 (-11%)	8mo	$272,000	$311	58
7808 Laramie Ave	0.27mi	4/1.0 (+1)	1,120 (+14%)	9mo	$290,000	$259	51
7843 Massasoit Ave	0.65mi	4/2.0 (+1)	1,056 (+7%)	1mo	$289,000	$274	48
7840 Massasoit Ave	0.67mi	4/1.0 (+1)	1,056 (+7%)	6mo	$274,000	$259	46
7704 S Kilpatrick Ave	0.73mi	3/1.5	1,080 (+10%)	6mo	$315,000	$292	42

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: -14.4%
• Equity multiple: 0.49×
• Total profit: $-38,885
• Equity at exit: $40,243

10-year hold

• IRR: -5.5%
• Equity multiple: 0.64×
• Total profit: $-27,242
• Equity at exit: $23,336

Cash invested: $75,572 (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 60459

• Active inventory: 55
• Price-to-rent: 8.5×

Monthly cashflow live

• Estimated rent: $2,650 medium
• Mortgage (P&I): −$1,415
• Tax from tax record: −$491 /mo · $5,895/yr
• Insurance: −$112
• HOA: −$0
• Vacancy / Maint / Mgmt: −$556
• Net cashflow: $74

Break-even live

Break-even rent $2,556

Max offer price $269,900

Occupancy floor 92%

Sensitivity live

Price	-10% $227	-5% $150	+0% $74	+5% $-2	+10% $-79
Rent	-10% $-135	-5% $-31	+0% $74	+5% $179	+10% $283
Rate	-1.0pp $210	-0.5pp $143	base $74	+0.5pp $4	+1.0pp $-67

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: $67,475
• Closing costs: $8,097
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
7732 Lotus Ave Burbank, IL	3.0	1.0	1065	$2,475	$2.32	26d	1	0.28mi
7732 Lotus Ave Burbank, IL	3.0	1.0	1056	$2,475	$2.34	24d	1	0.28mi
7847 Melvina Ave Burbank, IL	3.0	1.0	1056	$3,900	$3.69	0d	1	1.19mi
6101 W 82nd Pl Burbank, IL	3.0	2.0	1071	$2,900	$2.71	0d	1	1.34mi

Listing history 25 events

1. 2026-06-16
   status $269,900 Pending 64 DOM
2. 2026-06-15
   days on market $269,900 Active 64 DOM
3. 2026-06-13
   days on market $269,900 Active 62 DOM
4. 2026-06-13
   statusdays on market $269,900 Active 61 DOM
5. 2026-06-07
   status $269,900 Pending 60 DOM
6. 2026-06-04
   days on market $269,900 Active 60 DOM
7. 2026-06-03
   days on market $269,900 Active 59 DOM
8. 2026-06-02
   days on market $269,900 Active 58 DOM
9. 2026-06-01
   days on market $269,900 Active 57 DOM
10. 2026-05-31
    days on market $269,900 Active 56 DOM
11. 2026-05-08
    status Active
12. 2026-05-05
    status Pending
13. 2026-04-27
    price $269,900
14. 2026-04-01
    listed $275,000 Active
15. 2021-08-24
    soldstatus $210,000
16. 2021-08-10
    soldstatus $210,000 Closed 628-char remark

    Show marketing remark (628 chars)

    Your perfect white picket fence home is here! Great starter home remodeled back in 2015, 3 bedrooms with plenty of closet space and 1 bathroom. Kitchen has newer stainless steel appliances and ample room for a dining room set. Living room and bedrooms all have hardwood flooring. Laundry room equipped with washer and dryer, with easy access to the backyard. Yard has room for your summer patio set for your entertainment needs. Fully fenced home from front to back. 2 car garage with plenty of storage available. LOW TAXES. Walking distance to schools, parks and shopping centers nearby. Do not hesitate to make an offer today.

17. 2021-07-14
    status Pending 628-char remark

    Show marketing remark (628 chars)

    Your perfect white picket fence home is here! Great starter home remodeled back in 2015, 3 bedrooms with plenty of closet space and 1 bathroom. Kitchen has newer stainless steel appliances and ample room for a dining room set. Living room and bedrooms all have hardwood flooring. Laundry room equipped with washer and dryer, with easy access to the backyard. Yard has room for your summer patio set for your entertainment needs. Fully fenced home from front to back. 2 car garage with plenty of storage available. LOW TAXES. Walking distance to schools, parks and shopping centers nearby. Do not hesitate to make an offer today.

18. 2021-07-07
    status Pending 628-char remark

    Show marketing remark (628 chars)

    Your perfect white picket fence home is here! Great starter home remodeled back in 2015, 3 bedrooms with plenty of closet space and 1 bathroom. Kitchen has newer stainless steel appliances and ample room for a dining room set. Living room and bedrooms all have hardwood flooring. Laundry room equipped with washer and dryer, with easy access to the backyard. Yard has room for your summer patio set for your entertainment needs. Fully fenced home from front to back. 2 car garage with plenty of storage available. LOW TAXES. Walking distance to schools, parks and shopping centers nearby. Do not hesitate to make an offer today.

19. 2021-06-22
    listed $234,900 New 628-char remark

    Show marketing remark (628 chars)

    Your perfect white picket fence home is here! Great starter home remodeled back in 2015, 3 bedrooms with plenty of closet space and 1 bathroom. Kitchen has newer stainless steel appliances and ample room for a dining room set. Living room and bedrooms all have hardwood flooring. Laundry room equipped with washer and dryer, with easy access to the backyard. Yard has room for your summer patio set for your entertainment needs. Fully fenced home from front to back. 2 car garage with plenty of storage available. LOW TAXES. Walking distance to schools, parks and shopping centers nearby. Do not hesitate to make an offer today.

20. 2015-05-13
    soldstatus $139,000
21. 2015-05-01
    soldstatus $139,000 Closed Sale 387-char remark

    Show marketing remark (387 chars)

    NEWLY REMODELED 3 BDRM, 1 BATH BRICK RANCH W/ EVEN THE WHITE PICKET FENCE IN THE FRONT. NEWLY PAINTED. GORGEOUS NEW KIT. W/ MAPLE CABS, GRANITE, NEW SS APPLS W/ ADJ. EAT-IN. REFINISHED HRDWD. NEW DOORS & TRIM. NEW LIGHTING & FANS. NEWER BATH. LNDRY RM, REPLACEMENT WINDOWS & NEWER ROOF. REAR FENCED YRD W/ CONCRETE PATIO (19' X 10'). CLOSE TO SCHOOLS, SHOPS & PARK.

22. 2015-03-14
    historical Contingent 387-char remark

    Show marketing remark (387 chars)

    NEWLY REMODELED 3 BDRM, 1 BATH BRICK RANCH W/ EVEN THE WHITE PICKET FENCE IN THE FRONT. NEWLY PAINTED. GORGEOUS NEW KIT. W/ MAPLE CABS, GRANITE, NEW SS APPLS W/ ADJ. EAT-IN. REFINISHED HRDWD. NEW DOORS & TRIM. NEW LIGHTING & FANS. NEWER BATH. LNDRY RM, REPLACEMENT WINDOWS & NEWER ROOF. REAR FENCED YRD W/ CONCRETE PATIO (19' X 10'). CLOSE TO SCHOOLS, SHOPS & PARK.

23. 2015-03-11
    listed $134,900 New 387-char remark

    Show marketing remark (387 chars)

    NEWLY REMODELED 3 BDRM, 1 BATH BRICK RANCH W/ EVEN THE WHITE PICKET FENCE IN THE FRONT. NEWLY PAINTED. GORGEOUS NEW KIT. W/ MAPLE CABS, GRANITE, NEW SS APPLS W/ ADJ. EAT-IN. REFINISHED HRDWD. NEW DOORS & TRIM. NEW LIGHTING & FANS. NEWER BATH. LNDRY RM, REPLACEMENT WINDOWS & NEWER ROOF. REAR FENCED YRD W/ CONCRETE PATIO (19' X 10'). CLOSE TO SCHOOLS, SHOPS & PARK.

24. 2005-09-30
    soldstatus $190,000
25. 2001-11-02
    soldstatus $117,000

ⓘ 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: $5,895 · $491/mo
• Projected year-2 tax: $6,011 · $501/mo
• Expected delta: +$116/yr (+$10/mo · 2.0%)

ⓘ 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 ≥100°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 0% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 3 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $31,795
• − Mortgage interest: −$15,119
• − Property taxes: −$5,895
• − Insurance: −$1,350
• − Repairs & maintenance: −$2,544
• − Management: −$2,544
• − Depreciation: −$7,852
• Taxable loss: −$3,507
• Est. tax savings @ 24.0%: +$842
• After-tax cash flow: $1,730/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: Reavis Twp Hsd 220
• NCES district ID: 1733270
• Math proficiency: 18% ▼ -3.00%
• Reading proficiency: 21% ▼ -4.00%
• Median HH income: $54,732
• Composite: 17.94/100
• National rank: #8994
• State rank: #420 of 620 in IL

Livability — Burbank

• Score: 78/100
• State rank: #132
• US rank: #2422

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Burbank, IL
• City population: 28,822
• Population (ZIP): 28,822

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 0.56)
• Race & ethnicity: Hispanic / Latino 50% White 44% Two or more races 21% Asian 3% Black 1%
• Hispanic origin (detail): Mexican 45% Puerto Rican 2%
• Common ancestry: Romanian 17% Armenian 1% Iranian 1%
• Foreign-born: 32% · Canada, Jamaica, Vietnam
• Languages at home: 40% English-only · Spanish 39% Russian/Polish/Slavic 12% Arabic 5%

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: ▼ -188.56%
• Current HPI: 223.2294
• 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

+130.7% since first listed

15 events — show timeline

• 2026-05-08 Relisted — MRED as Distributed by MLS Grid
• 2026-05-05 Pending — MRED as Distributed by MLS Grid
• 2026-04-27 Price Changed $269,900 MRED as Distributed by MLS Grid
• 2026-04-01 Listed $275,000 MRED as Distributed by MLS Grid
• 2021-08-24 Sold (Public Records) $210,000 Public Records
• 2021-08-10 Sold (MLS) $210,000 MRED as Distributed by MLS Grid
• 2021-07-14 Pending — MRED as Distributed by MLS Grid
• 2021-07-07 Pending — MRED as Distributed by MLS Grid
• 2021-06-22 Listed $234,900 MRED as Distributed by MLS Grid
• 2015-05-13 Sold (Public Records) $139,000 Public Records
• 2015-05-01 Sold (MLS) $139,000 MRED as Distributed by MLS Grid
• 2015-03-14 Contingent — MRED as Distributed by MLS Grid
• 2015-03-11 Listed $134,900 MRED as Distributed by MLS Grid
• 2005-09-30 Sold (Public Records) $190,000 Public Records
• 2001-11-02 Sold (Public Records) $117,000 Public Records

Property tax history

+6.0%/yr

Latest (2023): $5,895 · +12.9% YoY. Source: county tax records.