15046 Perry Ave · South Holland, IL 60473

$79,900

4 bd · 2.5 ba · 2,488 sqft · SingleFamily public records · 16 Days on market

Built 1927

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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 +30.0/30.0
• 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 +0.7/10.0
• Appreciation +0.0/10.0

Listing remarks

Calling all investors, rehabbers & contractors! Check out this 3 bed 2 bath home in South Holland. Can easily convert to a 4 bed 2 bath plus a loft on the 2nd floor level. Property being sold AS-IS , WHERE IS and no survey. Call & schedule your showing today!

Key facts

• Garage
• Listed 15 days

Property features AI

Finance

• Other: Parcel includes additional parcels: 29093160260000, 29093150110000; Tax exemptions: Homeowner, Senior
• HOA & community: No master association fee required

Exterior

• Parking: Attached garage (1 garage space); 2 total parking spaces
• Utilities: Public water; Public sewer
• Home design: Detached single-family home; 1.5 story; Fee simple ownership; Built before 1978
• Construction: Frame construction; Estimated living area; Property age approximately 81–90 years
• Exterior features: Lot less than 0.25 acre; Lot dimensions: 2488

Interior

• Kitchen: Kitchen on main level
• Bedrooms: 3 bedrooms (master plus two additional bedrooms on the second floor)
• Bathrooms: 2 full bathrooms
• Heating & cooling: Natural gas heating; Central air conditioning
• Interior features: 5 total rooms; Dining room; Family room; Living room
• Laundry & utility: Laundry room

What this means for you Summary

Snapshot

• This is a 4-bed/2.5-bath single-family listed at $80k.

Deal economics

• At list price, monthly cash flow is $2k ($23k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $80k).
• Recommended offer: $79k (1.5% below list) — sets the bar for market timing.
• Cap rate 34.6% vs local median 8.4% in South Holland — 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 (#167 in IL, #3,071 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, housing A+, cost of living A; Watch: crime C-, amenities C-, schools D+.
• Thornton Twp Hsd 205 (suburban): math 7% / reading 8% proficiency, ranked #594 of 620 in IL (top 96%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 136 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 $552 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $22k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 16 days — a 2% lower offer ($79k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 16y 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.

Risks & watch-outs

• Watch-outs: built in 1927 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $78,701 (1.5% below list)

Questions for the listing agent

1. Built in 1927 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 3.87% ✓
• Cap rate: 34.64%
• Cash-on-cash: 101.25%
• DSCR: 5.51
• GRM: 2.2

CMA / ARV

• ARV (on-the-fly): $291,096
• Comps found: 5

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
15351 S 3rd Ave	0.46mi	3/2.5 (-1)	2,400 (-4%)	2mo	$277,000	$115	66
15239 Vincennes Rd	0.38mi	5/2.0 (+1)	2,286 (-8%)	4mo	$205,580	$90	58
15622 State St	0.71mi	4/3.0	2,600 (+4%)	0mo	$305,000	$117	57
633 E 153rd St	0.37mi	5/3.0 (+1)	2,200 (-12%)	3mo	$265,000	$120	54
15257 State St	0.69mi	5/2.0 (+1)	2,419 (-3%)	13mo	$334,900	$138	45

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: —
• Equity multiple: 5.80×
• Total profit: $107,326
• Equity at exit: $11,913

10-year hold

• IRR: —
• Equity multiple: 12.11×
• Total profit: $248,458
• Equity at exit: $6,908

Cash invested: $22,372 (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 60473

• Active inventory: 136
• Price-to-rent: 2.2×

Monthly cashflow live

• Estimated rent: $3,088 medium
• Mortgage (P&I): −$419
• Tax est. 1.5%: −$100 /mo · $1,198/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$649
• Net cashflow: $1,888

Break-even live

Break-even rent $699

Max offer price $79,900

Occupancy floor 34%

Sensitivity live

Price	-10% $1,943	-5% $1,915	+0% $1,888	+5% $1,860	+10% $1,832
Rent	-10% $1,644	-5% $1,766	+0% $1,888	+5% $2,010	+10% $2,132
Rate	-1.0pp $1,928	-0.5pp $1,908	base $1,888	+0.5pp $1,867	+1.0pp $1,846

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: $19,975
• Closing costs: $2,397
• Reserves months: —
• Total cash needed: —

Listing history 11 events

1. 2026-06-21
   days on market $79,900 Active 16 DOM
2. 2026-06-18
   days on market $79,900 Active 13 DOM
3. 2026-06-17
   days on market $79,900 Active 12 DOM
4. 2026-06-16
   days on market $79,900 Active 11 DOM
5. 2026-06-15
   days on market $79,900 Active 10 DOM
6. 2026-06-13
   days on market $79,900 Active 8 DOM
7. 2026-06-13
   days on market $79,900 Active 7 DOM
8. 2026-06-09
   days on market $79,900 Active 4 DOM
9. 2026-06-08
   days on market $79,900 Active 3 DOM
10. 2026-06-07
    remarks 265-char remark
11. 2026-06-07
    listed $79,900 Active 2 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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 · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $37,061
• − Mortgage interest: −$4,476
• − Property taxes: −$1,198
• − Insurance: −$400
• − Repairs & maintenance: −$2,965
• − Management: −$2,965
• − Depreciation: −$2,324
• Taxable income: $22,733
• Est. tax owed @ 24.0%: −$5,456
• After-tax cash flow: $17,196/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: Thornton Twp Hsd 205
• NCES district ID: 1738970
• Math proficiency: 7% ▬ 0.00%
• Reading proficiency: 8% ▼ -2.00%
• Median HH income: $43,392
• Composite: 6.92/100
• National rank: #9976
• State rank: #594 of 620 in IL

Livability — South Holland

• Score: 77/100
• State rank: #167
• US rank: #3071

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: South Holland, IL
• City population: 21,407
• Population (ZIP): 21,407

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 Black (75%)
• Race & ethnicity: Black 75% White 10% Hispanic / Latino 10% Two or more races 3% Asian 1%
• Hispanic origin (detail): Mexican 9% Puerto Rican 1%
• Common ancestry: Iranian 3% Romanian 2%
• Foreign-born: 6% · Canada, China
• Languages at home: 87% English-only · Spanish 8% Other Asian/Pacific 1% Russian/Polish/Slavic 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: ▼ -114.36%
• Current HPI: 201.2479
• 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

+88.0% since first listed

21 events — show timeline

• 2026-06-05 Listed $79,900 MRED as Distributed by MLS Grid
• 2026-04-24 Listing Removed — MRED as Distributed by MLS Grid
• 2026-04-13 Price Changed — MRED as Distributed by MLS Grid
• 2026-03-13 Listed — MRED as Distributed by MLS Grid
• 2026-01-21 Listing Removed — MRED as Distributed by MLS Grid
• 2025-12-08 Price Changed — MRED as Distributed by MLS Grid
• 2025-11-04 Price Changed — MRED as Distributed by MLS Grid
• 2025-10-20 Relisted — MRED as Distributed by MLS Grid
• 2025-10-20 Price Changed — MRED as Distributed by MLS Grid
• 2025-07-21 Pending — MRED as Distributed by MLS Grid
• 2025-07-11 Listed — MRED as Distributed by MLS Grid
• 2024-02-07 Sold (Public Records) $91,000 Public Records
• 2010-05-28 Sold (MLS) $55,900 MRED as Distributed by MLS Grid
• 2010-05-18 Pending — MRED as Distributed by MLS Grid
• 2010-04-13 Relisted — MRED as Distributed by MLS Grid
• 2010-01-29 Pending — MRED as Distributed by MLS Grid
• 2010-01-14 Listed $55,900 MRED as Distributed by MLS Grid
• 2007-07-19 Sold (Public Records) $180,000 Public Records
• 1992-12-16 Sold (Public Records) $73,000 Public Records
• 1989-12-20 Sold (Public Records) $70,000 Public Records
• 1983-10-01 Sold (Public Records) $42,500 Public Records

Property tax history

+7.5%/yr

Latest (2023): $4,067 · +111.9% YoY. Source: county tax records.