1139 Leavitt Ave #212 · Flossmoor, IL 60422

$92,000

1 bd · 1.0 ba · 950 sqft · Condo · 31 Days on market

Built 1962 $409/mo HOA · 23% of rent

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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 +26.4/30.0
• 1% rule +10.0/10.0
• DSCR +9.0/10.0
• ARV discount +7.5/15.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.4/10.0
• Appreciation +0.0/10.0

Listing remarks

Great opportunity to own this spacious 1 bedroom, 1 bath condo offering approximately 950 sq ft on a quiet, tree lined street in the heart of Flossmoor. Own your home for less than the price of rent. This unit offers a generous layout with plenty of natural light and a large private storage unit conveniently located just outside your door on the same floor. Windows were replaced in 2023. Building features new Speed Queen coin-operated laundry and is an owner occupied building with no rentals allowed, providing a stable and well-maintained community. Enjoy an unbeatable location just a 5 minute walk to the Flossmoor Metra station, library, and downtown Flossmoor including Beyond Borders Cafe

Key facts

• $409 HOA
• Parking
• Built 1962

Property features AI

Finance

• Other: Six-unit building; Estimated living area 950; Not currently leased; Directions: Flossmoor Road to Leavitt south to property address
• HOA & community: Monthly association fee of $409; Association covers heat, water, gas, parking, insurance, lawn care, trash service, and snow removal; On-site coin laundry and storage available; No pets allowed

Exterior

• Parking: One assigned, owned parking space
• Utilities: Lake Michigan water source; Public sewer
• Home design: Attached single (condo); Condo ownership; Entry level 2; Disability accessible
• Construction: Brick construction; Approximately 61–70 years old; Built before 1978
• Exterior features: Common lot/grounds; School bus, commuter bus, and commuter train access

Interior

• Kitchen: Range; Dishwasher; Refrigerator; Kitchen on main level (19 x 9)
• Bedrooms: Master bedroom on main level (18 x 12); Three additional bedrooms
• Bathrooms: One full bathroom
• Heating & cooling: Natural gas heating; Baseboard heating; Wall cooling unit(s)
• Interior features: Four total rooms; Separate dining room; Family room; Living room
• Laundry & utility: Laundry room; Common area laundry

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $92k.

Deal economics

• At list price, monthly cash flow is $240 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $92k).
• Recommended offer: $89k (3.0% below list) — sets the bar for market timing.
• Cap rate 9.4% vs local median 4.4% in Flossmoor — 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 80/100 on livability (#107 in IL, #1,718 nationally) — a professional / high-income tenant draw. Strengths: employment A+, housing A+, crime B+; Watch: cost of living D, amenities F.
• Homewood Flossmoor Chsd 233 (suburban): math 21% / reading 27% proficiency, ranked #272 of 620 in IL (top 44%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Homewood-Flossmoor High School (math 21% / reading 27%, grade F, #304 of 693 statewide, top 44%, 2,798 students, 0% FRL).
• Market conditions: 94 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $636 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $26k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 31 days — a 3% lower offer ($89k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 7y ago; this cycle's ask has dropped $8k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $44k; list at $92k implies a 111% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 3.3% of price; HOA is 23% of rent.

Recommended offer $89,240 (3.0% below list)

Questions for the listing agent

1. It's been on market 31 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1962 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
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: 1.95% ✓
• Cap rate: 9.42%
• Cash-on-cash: 11.17%
• DSCR: 1.50
• GRM: 4.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 0.7%
• Equity multiple: 1.03×
• Total profit: $725
• Equity at exit: $13,717

10-year hold

• IRR: 10.7%
• Equity multiple: 1.84×
• Total profit: $21,762
• Equity at exit: $7,954

Cash invested: $25,760 (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 60422

• Home prices YoY: -26.3%
• Active inventory: 94
• Price-to-rent: 4.3×

Monthly cashflow live

• Estimated rent: $1,796 medium
• Mortgage (P&I): −$482
• Tax from tax record: −$249 /mo · $2,992/yr
• Insurance: −$38
• HOA: −$409
• Vacancy / Maint / Mgmt: −$377
• Net cashflow: $240

Break-even live

Break-even rent $1,493

Max offer price $92,000

Occupancy floor 82%

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: $23,000
• Closing costs: $2,760
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2640 Flossmoor Rd Unit 2S Flossmoor, IL	2.0	1.5	800	$1,800	$2.25	15d	1	0.10mi
2420 183rd St Homewood, IL	2.0	1.0	1100	$1,750	$1.59	11d	1	1.21mi

HOA detail condo

• Monthly dues: $409 · $4,908/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 28 events

1. 2026-06-18
   days on market $92,000 Active 31 DOM
2. 2026-06-17
   pricedays on market $92,000 Active 30 DOM
3. 2026-06-16
   days on market $99,900 Active 29 DOM
4. 2026-06-15
   days on market $99,900 Active 28 DOM
5. 2026-06-13
   days on market $99,900 Active 26 DOM
6. 2026-06-09
   days on market $99,900 Active 22 DOM
7. 2026-06-08
   days on market $99,900 Active 21 DOM
8. 2026-06-07
   days on market $99,900 Active 20 DOM
9. 2026-06-04
   days on market $99,900 Active 17 DOM
10. 2026-06-03
    days on market $99,900 Active 16 DOM
11. 2026-06-02
    days on market $99,900 Active 15 DOM
12. 2026-06-01
    days on market $99,900 Active 14 DOM
13. 2026-05-31
    days on market $99,900 Active 13 DOM
14. 2026-05-18
    listed $99,900 Active
15. 2026-05-12
    historical
16. 2026-04-14
    price
17. 2026-03-12
    listed Active
18. 2025-12-12
    historical
19. 2025-11-20
    price
20. 2025-11-07
    listed Active
21. 2020-04-27
    soldstatus $43,500
22. 2020-03-31
    soldstatus $43,500 Closed Sale
23. 2020-03-10
    status Contingent
24. 2020-03-04
    status Reactivated
25. 2020-02-18
    historical Contingent
26. 2019-10-22
    listed $49,900 New
27. 1993-04-27
    soldstatus $50,000
28. 1983-10-01
    soldstatus $39,000

ⓘ 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: $2,992 · $249/mo
• Projected year-2 tax: $2,992 · $249/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 4/10 Moderate FEMA zone X (unshaded) · 22% 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 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,553
• − Mortgage interest: −$5,153
• − Property taxes: −$2,992
• − Insurance: −$460
• − Repairs & maintenance: −$1,724
• − Management: −$1,724
• − HOA: −$4,908
• − Depreciation: −$2,676
• Taxable income: $1,915
• Est. tax owed @ 24.0%: −$460
• After-tax cash flow: $2,418/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: Homewood Flossmoor Chsd 233
• NCES district ID: 1719560
• Math proficiency: 21% ▼ -15.00%
• Reading proficiency: 27% ▼ -13.00%
• Median HH income: $83,564
• Composite: 24.42/100
• National rank: #7681
• State rank: #272 of 620 in IL

Livability — Flossmoor

• Score: 80/100
• State rank: #107
• US rank: #1718

Category grades

Amenities F Commute C+ Cost of living D 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: Flossmoor, IL
• City population: 9,885
• Population (ZIP): 9,885

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 (63%)
• Race & ethnicity: Black 63% White 28% Hispanic / Latino 5% Two or more races 4% Asian 2%
• Common ancestry: Iranian 3% Romanian 3% Portuguese 2%
• Foreign-born: 5% · Canada
• Languages at home: 92% English-only · Spanish 4% Other Asian/Pacific 2% 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: ▼ -67.78%
• Current HPI: 189.5534
• 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

+156.2% since first listed

15 events — show timeline

• 2026-05-18 Listed $99,900 MRED as Distributed by MLS Grid
• 2026-05-12 Listing Removed — MRED as Distributed by MLS Grid
• 2026-04-14 Price Changed — MRED as Distributed by MLS Grid
• 2026-03-12 Listed — MRED as Distributed by MLS Grid
• 2025-12-12 Listing Removed — MRED as Distributed by MLS Grid
• 2025-11-20 Price Changed — MRED as Distributed by MLS Grid
• 2025-11-07 Listed — MRED as Distributed by MLS Grid
• 2020-04-27 Sold (Public Records) $43,500 Public Records
• 2020-03-31 Sold (MLS) $43,500 MRED as Distributed by MLS Grid
• 2020-03-10 Pending — MRED as Distributed by MLS Grid
• 2020-03-04 Relisted — MRED as Distributed by MLS Grid
• 2020-02-18 Contingent — MRED as Distributed by MLS Grid
• 2019-10-22 Listed $49,900 MRED as Distributed by MLS Grid
• 1993-04-27 Sold (Public Records) $50,000 Public Records
• 1983-10-01 Sold (Public Records) $39,000 Public Records

Property tax history

+7.8%/yr

Latest (2023): $2,992 · +87.9% YoY. Source: county tax records.