7601 Laramie Ave · Burbank, IL 60459

$299,999

4 bd · 2.5 ba · 2,600 sqft · SingleFamily public records · 2 Days on market

Built 1953 6,850 sqft lot Est $372k · 19% under

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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 +29.3/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +7.8/10.0
• Livability +3.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.8/10.0
• Appreciation +0.0/10.0

Listing remarks

LARGE 4 BEDROOM RANCH HOME. CORNER HOUSE SITS ON 2 LOTS. HOME IS BIGGER THAN WHAT IT APPEARS FROM THE OUTSIDE, LARGER FENCED BACKYARD. HUGE FAMILY ROOM. 2 1/2 CAR ATTACHED GARAGE. BONUS ROOM IN ATTIC. NEWER ROOF AND WATER HEATER. CLOSE TO SHOPPING, TRANSPORTATION AND SCHOOLS. HOME IS BEING SOLD AS IS . Interior pictures coming soon. Property is priced to sell! Main level sq ft 2136, attached garage 484

Key facts

• Newer roof
• Huge family room
• Bonus room in attic

Tags

• LARGER FENCED BACKYARD
• HUGE FAMILY ROOM
• BONUS ROOM IN ATTIC
• NEWER ROOF
• NEWER WATER HEATER

Property features AI

Finance

• Other: Not currently leased; Possession at closing or immediate
• HOA & community: No master association fee required; Community features include sidewalks, street lights, and paved streets

Exterior

• Parking: Attached garage on concrete; 2 garage/total parking spaces
• Utilities: Water from Lake Michigan / public; Public sewer; Electric with circuit breakers
• Home design: Detached single-family home; One-story ranch; Fee simple ownership; Built approximately 71–80 years ago; Asphalt roof; Facing/directions: use local directions
• Construction: Vinyl siding; Concrete perimeter foundation; Built before 1978
• Exterior features: Patio; Corner lot; Lot dimensions approximately 50 x 137

Interior

• Kitchen: Kitchen with ceramic tile flooring (14 x 11); Refrigerator
• Bedrooms: 4 bedrooms (master and three additional bedrooms on main level); Attic (15 x 17) — finished and usable space
• Flooring: Carpet in living room, family room, master and three bedrooms; Vinyl flooring in attic; Ceramic tile in kitchen
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Natural gas forced-air heating; Central air conditioning
• Interior features: First-floor bedroom; First-floor full bath; Finished attic; Crawl space basement; 8 total rooms
• Laundry & utility: Main-level laundry; Gas dryer hookup; Washer; Dryer

What this means for you Summary

Snapshot

• This is a 4-bed/2.5-bath single-family listed at $300k.

Deal economics

• At list price, monthly cash flow is $1k ($13k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $300k).
• Cap rate 10.5% vs local median 5.4% in Burbank — 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 78/100 on livability (#132 in IL, #2,422 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, housing A+, employment A-; Watch: health & safety C-, schools D-, amenities F.
• Reavis Twp Hsd 220 (suburban): math 18% / reading 21% proficiency, ranked #420 of 620 in IL (top 68%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 51 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 $2k of loan paydown is wiped out by about $9k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $84k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 19y 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 $133k; list at $300k implies a 126% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1953 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $299,999

Questions for the listing agent

1. Built in 1953 — 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: 1.28% ✓
• Cap rate: 10.50%
• Cash-on-cash: 15.03%
• DSCR: 1.67
• GRM: 6.5

CMA / ARV

• ARV (on-the-fly): $371,800
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
7772 Lawler Ave	0.27mi	5/2.0 (+1)	2,500 (-4%)	10mo	$357,000	$143	66
7701 Leamington Ave	0.14mi	5/3.5 (+1)	2,750 (+6%)	12mo	$519,900	$189	65
8023 Lavergne Ave	0.71mi	4/2.5	2,330 (-10%)	20mo	$333,900	$143	33
7744 Major Ave	0.70mi	3/2.0 (-1)	2,304 (-11%)	12mo	$319,900	$139	31

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: 5.6%
• Equity multiple: 1.22×
• Total profit: $18,407
• Equity at exit: $44,731

10-year hold

• IRR: 15.1%
• Equity multiple: 2.22×
• Total profit: $102,344
• Equity at exit: $25,938

Cash invested: $84,000 (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 60459

• Active inventory: 51
• Price-to-rent: 6.5×

Monthly cashflow live

• Estimated rent: $3,850 medium
• Mortgage (P&I): −$1,573
• Tax from tax record: −$291 /mo · $3,489/yr
• Insurance: −$125
• HOA: −$0
• Vacancy / Maint / Mgmt: −$808
• Net cashflow: $1,052

Break-even live

Break-even rent $2,518

Max offer price $299,999

Occupancy floor 68%

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: $75,000
• Closing costs: $9,000
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5330 W 86th St Burbank, IL	4.0	2.0	2300	$4,100	$1.78	1d	1	1.22mi
5212 Avery Pl Unit 1545958P Oak Lawn, IL	3.0	1.0	2195	$3,548	$1.62	10d	1	1.41mi

Listing history 14 events

1. 2026-06-18
   days on market $299,999 Active 2 DOM
2. 2026-06-17
   remarks 407-char remark
3. 2026-06-17
   pricedays on marketlisting id $299,999 Active 1 DOM
4. 2026-06-15
   days on market $315,000 Active 17 DOM
5. 2026-06-13
   days on market $315,000 Active 15 DOM
6. 2026-06-13
   days on market $315,000 Active 14 DOM
7. 2026-06-09
   days on market $315,000 Active 11 DOM
8. 2026-06-08
   days on market $315,000 Active 10 DOM
9. 2026-06-07
   days on market $315,000 Active 9 DOM
10. 2026-06-04
    days on market $315,000 Active 6 DOM
11. 2026-06-03
    days on market $315,000 Active 5 DOM
12. 2026-06-02
    days on market $315,000 Active 4 DOM
13. 2026-06-01
    days on market $315,000 Active 3 DOM
14. 2026-05-31
    days on market $315,000 Active 2 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: $3,489 · $291/mo
• Projected year-2 tax: $5,150 · $429/mo
• Expected delta: +$1,660/yr (+$138/mo · 47.6%)

ⓘ 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 ≥100°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 3 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $46,195
• − Mortgage interest: −$16,805
• − Property taxes: −$3,489
• − Insurance: −$1,500
• − Repairs & maintenance: −$3,696
• − Management: −$3,696
• − Depreciation: −$8,727
• Taxable income: $8,283
• Est. tax owed @ 24.0%: −$1,988
• After-tax cash flow: $10,638/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: Reavis Twp Hsd 220
• NCES district ID: 1733270
• Math proficiency: 18% ▼ -3.00%
• Reading proficiency: 21% ▼ -4.00%
• Median HH income: $54,732
• Composite: 17.94/100
• National rank: #8994
• State rank: #420 of 620 in IL

Livability — Burbank

• Score: 78/100
• State rank: #132
• US rank: #2422

Category grades

Amenities F Commute A+ Cost of living A- 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: Burbank, IL
• City population: 28,822
• Population (ZIP): 28,822

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 0.56)
• Race & ethnicity: Hispanic / Latino 50% White 44% Two or more races 21% Asian 3% Black 1%
• Hispanic origin (detail): Mexican 45% Puerto Rican 2%
• Common ancestry: Romanian 17% Armenian 1% Iranian 1%
• Foreign-born: 32% · Canada, Jamaica, Vietnam
• Languages at home: 40% English-only · Spanish 39% Russian/Polish/Slavic 12% Arabic 5%

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: ▼ -188.56%
• Current HPI: 223.2294
• 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

+136.8% since first listed

9 events — show timeline

• 2026-05-29 Listed $315,000 MRED as Distributed by MLS Grid
• 2009-07-31 Listing Removed — MRED as Distributed by MLS Grid
• 2009-03-01 Price Changed — MRED as Distributed by MLS Grid
• 2008-12-27 Listed — MRED as Distributed by MLS Grid
• 2008-11-13 Listing Removed — MRED as Distributed by MLS Grid
• 2008-05-12 Listed — MRED as Distributed by MLS Grid
• 2008-05-06 Listing Removed — MRED as Distributed by MLS Grid
• 2007-06-07 Listed — MRED as Distributed by MLS Grid
• 2001-02-01 Sold (Public Records) $133,000 Public Records

Property tax history

+6.2%/yr

Latest (2023): $3,489 · +239.7% YoY. Source: county tax records.