148 S Prairie Ave · Bradley, IL 60915

$129,000

3 bd · 1.0 ba · 1,100 sqft · SingleFamily · 4 Days on market

Built 1949 7,250 sqft lot Est $186k · 31% under

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Why this score? — see what drove the C 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 +20.2/30.0
• ARV discount +15.0/15.0
• 1% rule +7.4/10.0
• DSCR +6.4/10.0
• Livability +3.3/5.0
• 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

Cute 1.5 story 2 bedroom home on corner lot in Bradley. Large living room w/ carpet. 2 rooms finished in the upstairs. Full unfinished basement. Large yard with 1 car garage. Needs a little TLC - Sold As Is!

Key facts

• Full basement
• Fenced in yard
• Detached garage

Tags

• FULL BASEMENT
• FENCED IN YARD
• DETACHED GARAGE

Property features AI

Finance

• Other: School bus service available; Zoning: single-family
• HOA & community: No master association fee required

Exterior

• Parking: Detached garage (1 garage space; 1 total parking space)
• Utilities: Public water; Public sewer
• Home design: Detached single-family home; 1.5-story design; Fee simple ownership; Estimated living area
• Construction: Aluminum siding; Built approximately 71–80 years ago; Home was built before 1978
• Exterior features: Property faces Broadway / S Prairie Avenue area (directions: Broadway St to S Prairie Avenue); Lot dimensions approximately 50 x 145

Interior

• Kitchen: Kitchen (13 x 11)
• Bedrooms: Three bedrooms (Master on main; another bedroom on main; third bedroom on second level)
• Bathrooms: One full bathroom
• Heating & cooling: Natural gas forced air heating
• Interior features: Unfinished full basement; Five total rooms
• Laundry & utility: Dedicated laundry room

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $129k.

Deal economics

• At list price, monthly cash flow is $164 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $129k).
• Cap rate 7.8% vs local median 4.5% in Bradley — 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 66/100 on livability (#569 in IL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: employment D+, amenities D, schools F.
• Bradley Bourbonnais Chsd 307 (suburban): math 15% / reading 24% proficiency, ranked #413 of 620 in IL (top 67%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 21 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 145 units permitted in Kankakee County in 2024 (5 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $892 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Kankakee County population projected at -19% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 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 $40k; list at $129k implies a 222% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 3.4% of price; built in 1949 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $129,000

Questions for the listing agent

1. Built in 1949 — 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 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?
5. 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.
6. 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.
7. 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: 1.24% ✓
• Cap rate: 7.82%
• Cash-on-cash: 5.44%
• DSCR: 1.24
• GRM: 6.7

CMA / ARV

• ARV (on-the-fly): $185,900
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
171 S Blaine Ave	0.18mi	3/1.0	1,115 (+1%)	0mo	$168,000	$151	89
212 S Blaine Ave	0.16mi	2/2.0 (-1)	1,107 (+1%)	2mo	$165,000	$149	81
540 Jonette Ave	0.50mi	3/1.0	1,104 (+0%)	0mo	$214,900	$195	76
211 S Michigan Ave	0.28mi	3/1.0	1,200 (+9%)	0mo	$187,000	$156	72
312 N Center Ave	0.24mi	2/1.5 (-1)	1,208 (+10%)	2mo	$165,000	$137	64
311 S Cleveland Ave	0.18mi	3/2.0	960 (-13%)	3mo	$175,000	$182	64
626 Bank St	0.43mi	3/1.0	1,200 (+9%)	2mo	$205,000	$171	63
1256 Marla Ter	0.64mi	3/1.5	1,129 (+3%)	4mo	$150,000	$133	61
447 Dennis Ave	0.66mi	4/2.0 (+1)	1,131 (+3%)	0mo	$209,900	$186	55
482 S Rivard St	0.69mi	2/1.0 (-1)	1,064 (-3%)	4mo	$180,000	$169	54
411 N Prairie Ave	0.32mi	2/1.0 (-1)	940 (-14%)	2mo	$92,000	$98	54
1370 Lennington Cir NE	0.66mi	3/1.0	1,000 (-9%)	3mo	$184,500	$185	51

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: -7.7%
• Equity multiple: 0.71×
• Total profit: $-10,315
• Equity at exit: $19,234

10-year hold

• IRR: 2.0%
• Equity multiple: 1.14×
• Total profit: $5,071
• Equity at exit: $11,154

Cash invested: $36,120 (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 60915

• Active inventory: 21
• Price-to-rent: 6.7×

Monthly cashflow live

• Estimated rent: $1,597 medium
• Mortgage (P&I): −$676
• Tax from tax record: −$367 /mo · $4,405/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$335
• Net cashflow: $164

Break-even live

Break-even rent $1,389

Max offer price $129,000

Occupancy floor 85%

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: $32,250
• Closing costs: $3,870
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1017 N Schuyler Ave Unit 3 Kankakee, IL	2.0	1.0	800	$1,375	$1.72	43d	1	0.84mi
229 Steeplechase Cir #1 Bourbonnais, IL	2.0	2.0	1126	$1,850	$1.64	18d	1	1.29mi

Listing history 5 events

1. 2026-06-19
   days on market $129,000 Active 4 DOM
2. 2026-06-18
   days on market $129,000 Active 3 DOM
3. 2026-06-17
   days on market $129,000 Active 2 DOM
4. 2026-06-16
   remarks 257-char remark
5. 2026-06-16
   listed $129,000 Active 1 DOM

ⓘ 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: $4,405 · $367/mo
• Projected year-2 tax: $4,405 · $367/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 ≥105°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,158
• − Mortgage interest: −$7,226
• − Property taxes: −$4,405
• − Insurance: −$645
• − Repairs & maintenance: −$1,533
• − Management: −$1,533
• − Depreciation: −$3,753
• Taxable income: $64
• Est. tax owed @ 24.0%: −$15
• After-tax cash flow: $1,951/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: Bradley Bourbonnais Chsd 307
• NCES district ID: 1706960
• Math proficiency: 15% ▼ -6.00%
• Reading proficiency: 24% ▼ -6.00%
• Median HH income: $59,302
• Composite: 18.35/100
• National rank: #8945
• State rank: #413 of 620 in IL

Livability — Bradley

• Score: 66/100
• State rank: #569
• US rank: #11945

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Bradley, IL
• City population: 10,217
• Population (ZIP): 10,217

Population outlook (Kankakee County) Hauer SSP2

• Today (2025): 105,479 people
• By 2030: 101,792 · -3.5%
• By 2040: 93,479 · -11.4%
• By 2050: 85,061 · -19.4%
• By 2075: 67,314 · -36.2%
• By 2100: 52,439 · -50.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (80%)
• Race & ethnicity: White 80% Hispanic / Latino 14% Two or more races 9% Black 3%
• Hispanic origin (detail): Mexican 14%
• Common ancestry: Romanian 10% Lithuanian 6% Slovak 2%
• Foreign-born: 4% · Canada
• Languages at home: 86% English-only · Spanish 11% French/Haitian/Cajun 1% Other Indo-European 1%

Political lean MEDSL · Kankakee

• 2024 margin: Strong R (+20.8) · D 38.7% · R 59.5% · Other 1.8%
• 2008→2024 swing: -25.4pp toward R · 2008: 4.6pp · 2024: -20.8pp
• All cycles: 2024: R+20.8 2020: R+16.5 2016: R+13.3 2012: R+3.4 2008: D+4.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -136.35%
• Current HPI: 178.3271
• 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

+223.3% since first listed

6 events — show timeline

• 2026-06-15 Listed $129,000 MRED as Distributed by MLS Grid
• 2014-08-26 Sold (Public Records) $40,000 Public Records
• 2014-08-01 Sold (MLS) $40,000 MRED as Distributed by MLS Grid
• 2014-07-25 Pending — MRED as Distributed by MLS Grid
• 2014-06-27 Contingent — MRED as Distributed by MLS Grid
• 2014-06-25 Listed $39,900 MRED as Distributed by MLS Grid

Property tax history

+6.4%/yr

Latest (2025): $4,405 · +20.1% YoY. Source: county tax records.