5028 W 31st Pl · Cicero, IL 60804

$899,000

18 bd · 6.0 ba · 6,748 sqft · MultiFamily public records · 725 Days on market

Built 1914

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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 +23.7/30.0
• DSCR +7.6/10.0
• ARV discount +7.5/15.0
• 1% rule +6.2/10.0
• Livability +4.1/5.0
• Rent growth +3.1/5.0
• Condition / age +2.5/5.0
• Schools +1.1/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 6 units. confirmed

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

Large old corner 6 flat with large brick garage. All good sized units with their own heat and water heater. Bank Owned selling in AS IS condition.

Key facts

• Built 1914
• Listed 724 days

Tags

• RENOVATED INTERIORS SINCE 2015

Property features AI

Finance

• Other: Owner-projected operating expenses listed (example amounts: water/sewer $3,000; electric $500; trash $2,800; insurance $4,000)
• Financial info: Six-unit building; Total monthly income reported at $10,740; Gross annual income reported at $128,880; Gross rent multiplier 7.56; Individual unit monthly rents reported (examples): $2,500; $2,400; $1,500; $1,275; $1,250; $1,225; $595

Exterior

• Parking: Assigned indoor parking spaces including detached and secured options; Assigned outdoor parking (1–5 spaces)
• Security: Secured indoor parking
• Utilities: Water and sewer service (owner-projected water/sewer expense); Electric service
• Home design: Multi-family building (5+ units); Leased and month-to-month tenancy
• Construction: Brick and frame construction with other materials; Composition and membrane roofing; Roof structures include flat, gable, pitched and metal decking; Building constructed before 1978
• Exterior features: Street parking available; Assigned outdoor parking spaces; fee parking and street parking options

Interior

• Kitchen: Ranges/stoves provided (total of 6 ranges in building)
• Bedrooms: Unit mix includes units with 4, 3 and 2 bedrooms (various unit layouts)
• Bathrooms: Multiple full bathrooms across units (units have 1–2 full bathrooms)
• Heating & cooling: Forced air heating (gas)
• Interior features: Crawl space and cellar basement; Storage/locker area; Some photos virtually staged
• Laundry & utility: On-site laundry equipment (1 washer, 1 dryer)

What this means for you Summary

Snapshot

• This is a 6 × 2-bed/1.3-bath units multifamily listed at $899k.

Deal economics

• At list price, monthly cash flow is $2k ($21k/yr) — positive. Per door: $286/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($10k rent vs $899k).
• Recommended offer: $791k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.6% vs local median 4.6% in Cicero — 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 82/100 on livability (#77 in IL, #1,276 nationally) — a professional / high-income tenant draw. Strengths: commute A+, cost of living A+, housing A+; Watch: schools F.
• J S Morton Hsd 201 (suburban): math 9% / reading 14% proficiency, ranked #557 of 620 in IL (top 90%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: Rents rising (+2.4%/yr); 109 active listings in the ZIP; 6,272 units permitted in Cook County in 2024 (4,658 in 5+ unit buildings).
• At $10,059/mo this rent would consume 170% of the median local household income ($71k/yr) (locally 2178% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $6k of loan paydown is wiped out by about $27k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 725 days — a 12% lower offer ($791k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 12y ago; this cycle's ask has dropped $351k (28%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $155k; list at $899k implies a 480% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1914 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $791,120 (12.0% below list)

Questions for the listing agent

1. It's been on market 725 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 1914 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
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: 1.12% ✓
• Cap rate: 8.58%
• Cash-on-cash: 8.18%
• DSCR: 1.36
• GRM: 7.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 2.43% rent growth · sell at horizon

5-year hold

• IRR: -4.5%
• Equity multiple: 0.83×
• Total profit: $-41,908
• Equity at exit: $134,044

10-year hold

• IRR: 4.5%
• Equity multiple: 1.32×
• Total profit: $81,693
• Equity at exit: $77,729

Cash invested: $251,720 (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 60804

• Rents YoY: 2.4%
• Active inventory: 109
• Price-to-rent: 44.7×

Monthly cashflow live

• Estimated rent: $10,059 high
• Mortgage (P&I): −$4,714
• Tax from tax record: −$1,141 /mo · $13,689/yr
• Insurance: −$375
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,112
• Net cashflow: $1,717

Break-even live

Break-even rent $7,886

Max offer price $899,000

Occupancy floor 78%

Sensitivity live

Price	-10% $2,226	-5% $1,971	+0% $1,717	+5% $1,462	+10% $1,208
Rent	-10% $922	-5% $1,319	+0% $1,717	+5% $2,114	+10% $2,511
Rate	-1.0pp $2,170	-0.5pp $1,945	base $1,717	+0.5pp $1,484	+1.0pp $1,247

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

Units	Beds	Baths	Est. rent
▸ 6× units	2	1.3	$10,062
Total (6 units)			$10,059

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: $224,750
• Closing costs: $26,970
• Reserves months: —
• Total cash needed: —

Listing history 33 events

1. 2026-06-21
   days on market $899,000 Active 725 DOM
2. 2026-06-18
   days on market $899,000 Active 722 DOM
3. 2026-06-17
   days on market $899,000 Active 721 DOM
4. 2026-06-16
   days on market $899,000 Active 720 DOM
5. 2026-06-15
   days on market $899,000 Active 719 DOM
6. 2026-06-13
   days on market $899,000 Active 717 DOM
7. 2026-06-09
   days on market $899,000 Active 713 DOM
8. 2026-06-08
   days on market $899,000 Active 712 DOM
9. 2026-06-07
   days on market $899,000 Active 711 DOM
10. 2026-06-04
    days on market $899,000 Active 708 DOM
11. 2026-06-03
    days on market $899,000 Active 707 DOM
12. 2026-06-02
    days on market $899,000 Active 706 DOM
13. 2026-06-01
    days on market $899,000 Active 705 DOM
14. 2026-05-31
    days on market $899,000 Active 704 DOM
15. 2026-02-10
    status Active
16. 2025-12-31
    historical
17. 2025-10-29
    price $950,000
18. 2025-09-19
    price $975,000
19. 2025-08-13
    price $1,000,000
20. 2025-05-22
    price $1,045,000
21. 2025-04-08
    price $1,085,000
22. 2025-01-22
    status Active
23. 2024-12-31
    historical
24. 2024-08-05
    price $1,189,000
25. 2024-05-21
    price $1,225,000
26. 2024-04-24
    listed $1,250,000 Active
27. 2015-05-14
    soldstatus $155,000 Closed Sale 146-char remark

    Show marketing remark (146 chars)

    Large old corner 6 flat with large brick garage. All good sized units with their own heat and water heater. Bank Owned selling in AS IS condition.

28. 2015-03-19
    status Pending 146-char remark

    Show marketing remark (146 chars)

    Large old corner 6 flat with large brick garage. All good sized units with their own heat and water heater. Bank Owned selling in AS IS condition.

29. 2015-02-28
    historical Contingent 146-char remark

    Show marketing remark (146 chars)

    Large old corner 6 flat with large brick garage. All good sized units with their own heat and water heater. Bank Owned selling in AS IS condition.

30. 2015-01-03
    price $189,000 146-char remark

    Show marketing remark (146 chars)

    Large old corner 6 flat with large brick garage. All good sized units with their own heat and water heater. Bank Owned selling in AS IS condition.

31. 2014-10-13
    listed $200,000 New 146-char remark

    Show marketing remark (146 chars)

    Large old corner 6 flat with large brick garage. All good sized units with their own heat and water heater. Bank Owned selling in AS IS condition.

32. 1989-03-01
    soldstatus $115,000
33. 1979-12-12
    soldstatus $84,500

ⓘ 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: $13,689 · $1,141/mo
• Projected year-2 tax: $17,048 · $1,421/mo
• Expected delta: +$3,359/yr (+$280/mo · 24.5%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 68% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥99°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% 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: $120,708
• − Mortgage interest: −$50,358
• − Property taxes: −$13,689
• − Insurance: −$4,495
• − Repairs & maintenance: −$9,657
• − Management: −$9,657
• − Depreciation: −$26,153
• Taxable income: $6,700
• Est. tax owed @ 24.0%: −$1,608
• After-tax cash flow: $18,994/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: J S Morton Hsd 201
• NCES district ID: 1726880
• Math proficiency: 9% ▲ 1.00%
• Reading proficiency: 14% ▼ -1.00%
• Median HH income: $48,698
• Composite: 10.73/100
• National rank: #9768
• State rank: #557 of 620 in IL

Livability — Cicero

• Score: 82/100
• State rank: #77
• US rank: #1276

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Cicero, IL
• County: Cook County · 4,486,803 people
• City population: 82,797
• Metro: Chicago-Naperville-Elgin, IL-IN-WI
• Population (ZIP): 82,797
• Household income: $70,842
• Rent vs Own: 45.4% rent · 54.6% own
• Severe rent burden: 2178.0

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: Predominantly Hispanic (89%)
• Race & ethnicity: Hispanic / Latino 89% Two or more races 17% White 7% Black 3% Native American 2%
• Hispanic origin (detail): Mexican 80% Puerto Rican 3%
• Common ancestry: Romanian 2%
• Foreign-born: 40% · Canada, Jamaica
• Languages at home: 18% English-only · Spanish 80%

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: ▼ -165.38%
• Current HPI: 262.83
• Rent YoY: ▲ 2.43%
• Metro: Chicago-Naperville-Elgin, IL-IN-WI
• 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

+1024.3% since first listed

19 events — show timeline

• 2026-02-10 Relisted — MRED as Distributed by MLS Grid
• 2025-12-31 Listing Removed — MRED as Distributed by MLS Grid
• 2025-10-29 Price Changed $950,000 MRED as Distributed by MLS Grid
• 2025-09-19 Price Changed $975,000 MRED as Distributed by MLS Grid
• 2025-08-13 Price Changed $1,000,000 MRED as Distributed by MLS Grid
• 2025-05-22 Price Changed $1,045,000 MRED as Distributed by MLS Grid
• 2025-04-08 Price Changed $1,085,000 MRED as Distributed by MLS Grid
• 2025-01-22 Relisted — MRED as Distributed by MLS Grid
• 2024-12-31 Listing Removed — MRED as Distributed by MLS Grid
• 2024-08-05 Price Changed $1,189,000 MRED as Distributed by MLS Grid
• 2024-05-21 Price Changed $1,225,000 MRED as Distributed by MLS Grid
• 2024-04-24 Listed $1,250,000 MRED as Distributed by MLS Grid
• 2015-05-14 Sold (MLS) $155,000 MRED as Distributed by MLS Grid
• 2015-03-19 Pending — MRED as Distributed by MLS Grid
• 2015-02-28 Contingent — MRED as Distributed by MLS Grid
• 2015-01-03 Price Changed $189,000 MRED as Distributed by MLS Grid
• 2014-10-13 Listed $200,000 MRED as Distributed by MLS Grid
• 1989-03-01 Sold (Public Records) $115,000 Public Records
• 1979-12-12 Sold (Public Records) $84,500 Public Records

Property tax history

+2.4%/yr

Latest (2023): $13,689 · -10.3% YoY. Source: county tax records.