3645 177th Pl · Lansing, IL 60438

$235,900

2 bd · 1.0 ba · 795 sqft · SingleFamily public records · 33 Days on market

Built 1947 4,960 sqft lot Est $169k · 40% over

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Why this score? — see what drove the F 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 +4.7/30.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +1.4/10.0
• Schools +1.0/10.0
• DSCR +0.0/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

New luxury plank flooring, Needs a little TLC All offers welcome Fenced in backyard with patio and garage. Great location in Lansing. Possible 4th bedroom in loft upstairs. Ready to show Not far from schools, parks, restaurants and shops.

Key facts

• Open layout
• Brand new flooring
• Updated home

Tags

• UPDATED HOME
• VERSATILE LOFT AREA
• BRAND NEW FLOORING
• PLUSH CARPETING
• OPEN LAYOUT
• CONVENIENCE OF A GARAGE

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $236k.

Deal economics

• At list price, monthly cash flow is $-582 ($-7k/yr) — negative.
• To cash-flow at today's rent, offer at most $133k (43.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $151k (35.8% below list).
• Recommended offer: $133k (43.6% below list) — sets the bar for cash-flow.
• Cap rate 3.3% vs local median 5.9% in Lansing — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

Location & tenants

• Location reads 73/100 on livability (#296 in IL) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: crime D+, health & safety D+, amenities F.
• Thornton Fractional Twp Hsd 215 (suburban): math 9% / reading 13% proficiency, ranked #563 of 620 in IL (top 91%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Coolidge Elementary School (math 5% / reading 27%, grade F, #1,231 of 2,056 statewide, top 60%, 666 students, 0% FRL); Memorial Jr High School (math 9% / reading 20%, grade F, #517 of 665 statewide, top 79%, 860 students, 0% FRL); Thornton Fractnl So High School (math 11% / reading 14%, grade F, #504 of 693 statewide, top 73%, 1,927 students, 0% FRL).
• Market conditions: 136 active listings in the ZIP; 12 comparable units currently listed for rent nearby; rentals leasing fast (median 1d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 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 $7k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 33 days — a 3% lower offer ($229k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 8y 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 $130k; list at $236k implies a 81% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1947 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $133,027 (43.6% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 33 days. Have you received any prior offers? Is the seller open to a 44% concession, seller financing, or rate buy-down credit?
3. Built in 1947 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
7. 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?
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 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: 0.64% ✗
• Cap rate: 3.33%
• Cash-on-cash: -10.58%
• DSCR: 0.53
• GRM: 13.0

CMA / ARV

• ARV (on-the-fly): $168,540
• Comps found: 11

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3659 Madison St	0.33mi	3/2.0 (+1)	771 (-3%)	2mo	$167,900	$218	69
17617 Burnham Ave	0.61mi	2/1.0	812 (+2%)	2mo	$130,100	$160	66
17831 Walter St	0.54mi	2/1.0	854 (+7%)	1mo	$185,900	$218	62
3445 Adams St	0.33mi	2/1.0	768 (-3%)	22mo	$195,000	$254	61
7402 Harrison Ave	0.73mi	2/1.0	792 (-0%)	7mo	$137,000	$173	60
17642 Walter St	0.56mi	3/1.0 (+1)	800 (+1%)	12mo	$170,000	$213	57
17552 Roy St	0.54mi	3/2.0 (+1)	800 (+1%)	12mo	$117,000	$146	55
7536 Harrison Ave	0.63mi	2/1.0	786 (-1%)	17mo	$149,900	$191	54
17607 Community St	0.44mi	3/1.5 (+1)	787 (-1%)	22mo	$214,900	$273	52
3127 179th St	0.70mi	2/1.0	868 (+9%)	19mo	$168,500	$194	36
3240 181st St	0.66mi	3/2.0 (+1)	897 (+13%)	22mo	$190,000	$212	21

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: -35.4%
• Equity multiple: -0.14×
• Total profit: $-75,201
• Equity at exit: $35,173

10-year hold

• IRR: -46.7%
• Equity multiple: -0.71×
• Total profit: $-112,779
• Equity at exit: $20,396

Cash invested: $66,052 (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 60438

• Active inventory: 136
• Price-to-rent: 13.0×

Monthly cashflow live

• Estimated rent: $1,515 high
• Mortgage (P&I): −$1,237
• Tax from tax record: −$444 /mo · $5,322/yr
• Insurance: −$98
• HOA: −$0
• Vacancy / Maint / Mgmt: −$318
• Net cashflow: $-582

Break-even live

Break-even rent $2,252

Max offer price $133,027

Occupancy floor —

Sensitivity live

Price	-10% $-449	-5% $-516	+0% $-582	+5% $-649	+10% $-716
Rent	-10% $-702	-5% $-642	+0% $-582	+5% $-523	+10% $-463
Rate	-1.0pp $-464	-0.5pp $-522	base $-582	+0.5pp $-643	+1.0pp $-706

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: $58,975
• Closing costs: $7,077
• Reserves months: —
• Total cash needed: —

Rent comps 12 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3649 173rd Ct Lansing, IL	2.0	2.0	972	$1,357	$1.40	26d	1	0.45mi
17104 Wentworth Ave Unit 4 Lansing, IL	2.0	1.0	1100	$1,400	$1.27	1d	1	0.78mi
3020 178th St Unit C1 Lansing, IL	2.0	1.0	900	$1,550	$1.72	1d	1	0.82mi
3020 178th St Apt C7 Lansing, IL	2.0	1.0	900	$1,550	$1.72	26d	1	0.83mi
3069 Bernice Rd Apt 2N Lansing, IL	3.0	1.0	950	$1,535	$1.62	22d	1	0.85mi
3069 Bernice Rd Apt 2S Lansing, IL	3.0	1.0	950	$1,535	$1.62	4d	1	0.85mi
18335 Sherman St Unit 3 Lansing, IL	3.0	1.0	1000	$1,700	$1.70	0d	1	0.85mi
3023 Bernice Rd Apt 2S Lansing, IL	3.0	1.0	1000	$1,600	$1.60	0d	1	0.90mi
3023 Bernice Rd Unit 3030 3N Lansing, IL	3.0	1.0	1000	$1,400	$1.40	1d	1	0.90mi
3007 Bernice Rd Unit 3007 1S Lansing, IL	2.0	1.0	850	$1,400	$1.65	1d	1	0.92mi
1539 Wentworth Ave Unit 3W Calumet City, IL	3.0	1.0	1100	$1,700	$1.55	14d	1	1.09mi
17723 Exchange Ave Unit 17723-1N Lansing, IL	3.0	2.0	1100	$1,800	$1.64	0d	1	1.21mi

Listing history 33 events

1. 2026-04-23
   status Pending
2. 2026-03-28
   historical Contingent - Continue to Show
3. 2026-03-20
   listed $235,900 Active
4. 2025-09-09
   soldstatus $130,000
5. 2025-08-15
   soldstatus $130,000 Closed 242-char remark

   Show marketing remark (242 chars)

   New luxury plank flooring, Needs a little TLC All offers welcome Fenced in backyard with patio and garage. Great location in Lansing. Possible 4th bedroom in loft upstairs. Ready to show Not far from schools, parks, restaurants and shops.

6. 2025-08-07
   status Pending 242-char remark

   Show marketing remark (242 chars)

   New luxury plank flooring, Needs a little TLC All offers welcome Fenced in backyard with patio and garage. Great location in Lansing. Possible 4th bedroom in loft upstairs. Ready to show Not far from schools, parks, restaurants and shops.

7. 2025-06-24
   listed $159,900 Active 242-char remark

   Show marketing remark (242 chars)

   New luxury plank flooring, Needs a little TLC All offers welcome Fenced in backyard with patio and garage. Great location in Lansing. Possible 4th bedroom in loft upstairs. Ready to show Not far from schools, parks, restaurants and shops.

8. 2025-06-24
   historical

   Show marketing remark (242 chars)

   New luxury plank flooring, Needs a little TLC All offers welcome Fenced in backyard with patio and garage. Great location in Lansing. Possible 4th bedroom in loft upstairs. Ready to show Not far from schools, parks, restaurants and shops.

9. 2025-06-01
   price
10. 2025-05-22
    price
11. 2025-05-10
    price
12. 2021-06-29
    historical
13. 2019-11-07
    soldstatus $80,500
14. 2019-11-01
    soldstatus $80,500 Closed Sale
15. 2019-10-04
    historical Contingent
16. 2019-10-02
    status Reactivated
17. 2019-09-27
    historical Contingent (Do Not Show)
18. 2019-09-21
    listed $79,900 New
19. 2019-08-13
    historical
20. 2019-07-31
    status Contingent
21. 2019-07-30
    historical
22. 2019-07-24
    price
23. 2019-06-22
    price
24. 2019-05-31
    price
25. 2019-04-11
    status Reactivated
26. 2019-04-02
    historical
27. 2019-03-30
    price
28. 2019-02-03
    price
29. 2019-01-10
    price
30. 2018-12-08
    price
31. 2018-11-13
    price
32. 2018-11-10
    price
33. 2018-10-12
    listed New

ⓘ 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: $5,322 · $444/mo
• Projected year-2 tax: $5,339 · $445/mo
• Expected delta: +$16/yr (+$1/mo · 0.3%)

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

Climate risk First Street

• 🌊 Flood 3/10 Moderate FEMA zone X (shaded) · 20% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥102°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 5 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,176
• − Mortgage interest: −$13,214
• − Property taxes: −$5,322
• − Insurance: −$1,180
• − Repairs & maintenance: −$1,454
• − Management: −$1,454
• − Depreciation: −$6,863
• Taxable loss: −$11,311
• Est. tax savings @ 24.0%: +$2,715
• After-tax cash flow: $-4,273/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 Fractional Twp Hsd 215
• NCES district ID: 1738940
• Math proficiency: 9% ▼ -3.00%
• Reading proficiency: 13% ▼ -3.00%
• Median HH income: $48,207
• Composite: 10.27/100
• National rank: #9793
• State rank: #563 of 620 in IL

Livability — Lansing

• Score: 73/100
• State rank: #296
• US rank: #5698

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lansing, IL
• County: Cook County · 4,486,803 people
• City population: 28,806
• Metro: Chicago-Naperville-Elgin, IL-IN-WI
• Population (ZIP): 28,806
• Household income: $75,681
• Rent vs Own: 27.7% rent · 72.3% own
• Severe rent burden: 830.0

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: Diverse neighborhood (Simpson 0.65)
• Race & ethnicity: Black 51% White 25% Hispanic / Latino 18% Two or more races 7% Asian 2%
• Hispanic origin (detail): Mexican 15%
• Common ancestry: Romanian 5% Iranian 3% Lithuanian 1%
• Foreign-born: 10% · Canada
• Languages at home: 83% English-only · Spanish 12% Vietnamese 1% French/Haitian/Cajun 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: ▼ -151.65%
• Current HPI: 210.3398
• Rent YoY: —
• 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

+195.2% since first listed

33 events — show timeline

• 2026-04-23 Pending — MRED as Distributed by MLS Grid
• 2026-03-28 Contingent — MRED as Distributed by MLS Grid
• 2026-03-20 Listed $235,900 MRED as Distributed by MLS Grid
• 2025-09-09 Sold (Public Records) $130,000 Public Records
• 2025-08-15 Sold (MLS) $130,000 MRED as Distributed by MLS Grid
• 2025-08-07 Pending — MRED as Distributed by MLS Grid
• 2025-06-24 Listing Removed — MRED as Distributed by MLS Grid
• 2025-06-24 Listed $159,900 MRED as Distributed by MLS Grid
• 2025-06-01 Price Changed — MRED as Distributed by MLS Grid
• 2025-05-22 Price Changed — MRED as Distributed by MLS Grid
• 2025-05-10 Price Changed — MRED as Distributed by MLS Grid
• 2021-06-29 Listing Removed — MRED as Distributed by MLS Grid
• 2019-11-07 Sold (Public Records) $80,500 Public Records
• 2019-11-01 Sold (MLS) $80,500 MRED as Distributed by MLS Grid
• 2019-10-04 Contingent — MRED as Distributed by MLS Grid
• 2019-10-02 Relisted — MRED as Distributed by MLS Grid
• 2019-09-27 Contingent — MRED as Distributed by MLS Grid
• 2019-09-21 Listed $79,900 MRED as Distributed by MLS Grid
• 2019-08-13 Listing Removed — MRED as Distributed by MLS Grid
• 2019-07-31 Relisted — MRED as Distributed by MLS Grid
• 2019-07-30 Listing Removed — MRED as Distributed by MLS Grid
• 2019-07-24 Price Changed — MRED as Distributed by MLS Grid
• 2019-06-22 Price Changed — MRED as Distributed by MLS Grid
• 2019-05-31 Price Changed — MRED as Distributed by MLS Grid
• 2019-04-11 Relisted — MRED as Distributed by MLS Grid
• 2019-04-02 Listing Removed — MRED as Distributed by MLS Grid
• 2019-03-30 Price Changed — MRED as Distributed by MLS Grid
• 2019-02-03 Price Changed — MRED as Distributed by MLS Grid
• 2019-01-10 Price Changed — MRED as Distributed by MLS Grid
• 2018-12-08 Price Changed — MRED as Distributed by MLS Grid
• 2018-11-13 Price Changed — MRED as Distributed by MLS Grid
• 2018-11-10 Price Changed — MRED as Distributed by MLS Grid
• 2018-10-12 Listed — MRED as Distributed by MLS Grid

Property tax history

+5.8%/yr

Latest (2023): $5,322 · +4.6% YoY. Source: county tax records.