17943 Ridgewood Ave · Lansing, IL 60438

$159,900

2 bd · 1.0 ba · 780 sqft · SingleFamily public records · 42 Days on market

Built 1949 3,136 sqft lot Est $154k · at est.

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Why this score? — see what drove the D- 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 +15.1/30.0
• ARV discount +5.9/15.0
• DSCR +4.6/10.0
• 1% rule +4.2/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Selling as-is. Not a full rehab, but needs TLC. Not a short sale or foreclosure. Listing agent has ownership interest.

Key facts

• 3,136 sq ft lot
• Garage
• Built 1949

Property features AI

Finance

• Other: Fee simple ownership; Property not currently leased; Possession at closing
• HOA & community: No master association fee required

Exterior

• Parking: Detached owned garage (1 garage space, 1 parking space total)
• Utilities: Public water; Public sewer
• Home design: Detached single-family home; One-story
• Construction: Built approximately 71–80 years ago; Home built before 1978
• Exterior features: Aluminum siding; Lot dimensions approximately 24 x 124; Lot smaller than 0.25 acre

Interior

• Kitchen: Kitchen on the main level (approx. 11 x 9)
• Bedrooms: 2 bedrooms (both on the main level); Master bedroom on the main level (approx. 11 x 10); Second bedroom on the main level (approx. 10 x 10)
• Bathrooms: 1 full bathroom
• Heating & cooling: Natural gas forced-air heating; Central air conditioning
• Interior features: Unfinished full basement; 4 total rooms
• Laundry & utility: Basement laundry room (approx. 5 x 7)

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $160k.

Deal economics

• At list price, monthly cash flow is $53 ($636/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $146k (8.5% below list).
• Recommended offer: $146k (8.5% below list) — sets the bar for 1% rule.

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: schools D+, crime D+, health & safety D+.
• 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.
• Market conditions: 132 active listings in the ZIP; 16 comparable units currently listed for rent nearby; rentals at typical pace (median 18d on market — plan ~3-4 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 $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 42 days — a 3% lower offer ($155k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 17y 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 $85k; list at $160k implies a 88% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1949 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $146,365 (8.5% below list)

Questions for the listing agent

1. It's been on market 42 days. Have you received any prior offers? Is the seller open to a 8% concession, seller financing, or rate buy-down credit?
2. Built in 1949 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 0.92% ✗
• Cap rate: 6.69%
• Cash-on-cash: 1.42%
• DSCR: 1.06
• GRM: 9.1

CMA / ARV

• ARV (on-the-fly): $154,440
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
17803 Exchange Ave	0.37mi	3/1.0 (+1)	784 (+0%)	5mo	$155,000	$198	72
18251 Oakwood Ave	0.39mi	2/1.0	760 (-3%)	13mo	$79,900	$105	67
17617 Burnham Ave	0.53mi	2/1.0	812 (+4%)	2mo	$130,100	$160	66
17831 Walter St	0.41mi	2/1.0	854 (+10%)	1mo	$185,900	$218	65
17642 Walter St	0.52mi	3/1.0 (+1)	800 (+3%)	12mo	$170,000	$213	56
2830 Ridge Rd	0.31mi	2/1.0	840 (+8%)	20mo	$98,000	$117	56
3127 179th St	0.24mi	2/1.0	868 (+11%)	19mo	$168,500	$194	54
2950 Bernice Rd	0.73mi	3/1.5 (+1)	788 (+1%)	5mo	$159,000	$202	53
2525 183rd St	0.65mi	2/2.0	768 (-2%)	15mo	$127,000	$165	51
18273 Greenbay Ave	0.49mi	2/2.0	830 (+6%)	14mo	$97,500	$117	50
3445 Adams St	0.64mi	2/1.0	768 (-2%)	22mo	$195,000	$254	49
17821 Glen Oak Ave	0.65mi	2/1.0	714 (-8%)	15mo	$144,200	$202	43

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: -14.0%
• Equity multiple: 0.50×
• Total profit: $-22,512
• Equity at exit: $23,842

10-year hold

• IRR: -5.2%
• Equity multiple: 0.66×
• Total profit: $-15,169
• Equity at exit: $13,825

Cash invested: $44,772 (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: 132
• Price-to-rent: 9.1×

Monthly cashflow live

• Estimated rent: $1,464 high
• Mortgage (P&I): −$839
• Tax from tax record: −$198 /mo · $2,377/yr
• Insurance: −$67
• HOA: −$0
• Vacancy / Maint / Mgmt: −$307
• Net cashflow: $53

Break-even live

Break-even rent $1,397

Max offer price $159,900

Occupancy floor 91%

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: $39,975
• Closing costs: $4,797
• Reserves months: —
• Total cash needed: —

Rent comps 16 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3020 178th St Apt C7 Lansing, IL	2.0	1.0	900	$1,550	$1.72	24d	1	0.24mi
3020 178th St Unit C1 Lansing, IL	2.0	1.0	900	$1,550	$1.72	1d	1	0.24mi
17723 Exchange Ave Unit 17723-1N Lansing, IL	3.0	2.0	1100	$1,800	$1.64	1d	1	0.43mi
2441 Indiana Ave Lansing, IL	1.0	1.0	600	$975	$1.62	3d	1	0.65mi
2441 Indiana Ave Unit 2N Lansing, IL	1.0	1.0	600	$975	$1.62	12d	1	0.65mi
3023 Bernice Rd Apt 2S Lansing, IL	3.0	1.0	1000	$1,600	$1.60	1d	1	0.70mi
3069 Bernice Rd Apt 2S Lansing, IL	3.0	1.0	950	$1,535	$1.62	2d	1	0.71mi
3069 Bernice Rd Apt 2N Lansing, IL	3.0	1.0	950	$1,535	$1.62	20d	1	0.71mi
18361 Glen Oak Ave Unit 1E Lansing, IL	2.0	1.0	900	$1,400	$1.56	24d	1	0.80mi
18335 Sherman St Unit 3 Lansing, IL	3.0	1.0	1000	$1,700	$1.70	1d	1	0.85mi
18381 Torrence Ave Lansing, IL	2.0	1.0	900	$1,300	$1.44	24d	1	0.88mi
18440 Torrence Ave Lansing, IL	2.0	1.0	800	$1,200	$1.50	24d	1	0.97mi
18550 Torrence Ave #25 Lansing, IL	2.0	1.0	1000	$1,300	$1.30	11d	1	1.05mi
17754 Rosewood Dr Unit 1N Lansing, IL	2.0	1.0	850	$1,370	$1.61	24d	1	1.18mi
3649 173rd Ct Lansing, IL	2.0	2.0	972	$1,357	$1.40	24d	1	1.19mi
17640 Rosewood Dr Unit 2A Lansing, IL	2.0	1.0	950	$1,475	$1.55	17d	1	1.20mi

Listing history 25 events

1. 2026-06-18
   days on market $159,900 Active 42 DOM
2. 2026-06-17
   days on market $159,900 Active 41 DOM
3. 2026-06-16
   days on market $159,900 Active 40 DOM
4. 2026-06-15
   days on market $159,900 Active 39 DOM
5. 2026-06-13
   days on market $159,900 Active 37 DOM
6. 2026-06-09
   days on market $159,900 Active 33 DOM
7. 2026-06-08
   days on market $159,900 Active 32 DOM
8. 2026-06-07
   days on market $159,900 Active 31 DOM
9. 2026-06-04
   days on market $159,900 Active 28 DOM
10. 2026-06-03
    days on market $159,900 Active 27 DOM
11. 2026-06-02
    days on market $159,900 Active 26 DOM
12. 2026-06-01
    days on market $159,900 Active 25 DOM
13. 2026-05-31
    days on market $159,900 Active 24 DOM
14. 2026-05-07
    listed $159,900 Active
15. 2025-12-31
    historical
16. 2025-02-26
    listed Active
17. 2021-09-03
    soldstatus $85,000 Closed 120-char remark

    Show marketing remark (120 chars)

    Selling as-is. Not a full rehab, but needs TLC. Not a short sale or foreclosure. Listing agent has ownership interest.

18. 2021-08-10
    status Active Under Contract 120-char remark

    Show marketing remark (120 chars)

    Selling as-is. Not a full rehab, but needs TLC. Not a short sale or foreclosure. Listing agent has ownership interest.

19. 2021-07-29
    listed $99,900 Active 120-char remark

    Show marketing remark (120 chars)

    Selling as-is. Not a full rehab, but needs TLC. Not a short sale or foreclosure. Listing agent has ownership interest.

20. 2009-12-13
    historical
21. 2009-12-12
    listed New
22. 2009-12-12
    historical
23. 2009-11-23
    price Price Change
24. 2009-09-11
    price
25. 2009-09-11
    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: $2,377 · $198/mo
• Projected year-2 tax: $3,003 · $250/mo
• Expected delta: +$626/yr (+$52/mo · 26.3%)

ⓘ 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 3/10 Moderate
• 🌡 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: $17,564
• − Mortgage interest: −$8,957
• − Property taxes: −$2,377
• − Insurance: −$800
• − Repairs & maintenance: −$1,405
• − Management: −$1,405
• − Depreciation: −$4,652
• Taxable loss: −$2,032
• Est. tax savings @ 24.0%: +$488
• After-tax cash flow: $1,124/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

+60.1% since first listed

12 events — show timeline

• 2026-05-07 Listed $159,900 MRED as Distributed by MLS Grid
• 2025-12-31 Listing Removed — MRED as Distributed by MLS Grid
• 2025-02-26 Listed — MRED as Distributed by MLS Grid
• 2021-09-03 Sold (MLS) $85,000 MRED as Distributed by MLS Grid
• 2021-08-10 Pending — MRED as Distributed by MLS Grid
• 2021-07-29 Listed $99,900 MRED as Distributed by MLS Grid
• 2009-12-13 Listing Removed — MRED as Distributed by MLS Grid
• 2009-12-12 Listed — MRED as Distributed by MLS Grid
• 2009-12-12 Listing Removed — MRED as Distributed by MLS Grid
• 2009-11-23 Price Changed — MRED as Distributed by MLS Grid
• 2009-09-11 Price Changed — MRED as Distributed by MLS Grid
• 2009-09-11 Listed — MRED as Distributed by MLS Grid

Property tax history

+3.6%/yr

Latest (2023): $2,377 · -2.1% YoY. Source: county tax records.