131 E 163rd St Unit 16A · South Holland, IL 60473

$229,000

2 bd · 2.0 ba · 1,400 sqft · Condo · 266 Days on market

Built 1999 $315/mo HOA · 12% of rent ↓ 4% since listing

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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 +19.3/30.0
• ARV discount +7.5/15.0
• 1% rule +6.9/10.0
• DSCR +6.1/10.0
• 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

Welcoming 2-Bedroom Villa for Active Adults in Prime 55+ Community. Experience comfort and ease in this stunning 2-bedroom, 2-bathroom villa within a top-rated 55+ community. Step into a bright, open living area with custom shutters. The maintained kitchen boasts appliances and plenty of storage. Retreat to the primary suite's serene space, offering a large walk-in closet and private ensuite bath with double vanity. The second bedroom works great for guests or a home office. Enjoy perks like an attached two-car garage, private laundry, and outdoor patio. Explore beautifully landscaped grounds, and take advantage of community amenities including a clubhouse, pool, and fitness center. Ideal f

Key facts

• Double vanity
• Custom shutters
• Open living area

Tags

• OPEN LIVING AREA
• CUSTOM SHUTTERS
• MAINTAINED KITCHEN
• LARGE WALK-IN CLOSET
• PRIVATE ENSUITE BATH
• DOUBLE VANITY

Property features AI

Finance

• Other: Four-unit building; Living area source: assessor; Not rebuilt or rehabbed; Not built before 1978
• HOA & community: Monthly association fee of $315; HOA covers insurance, clubhouse, exercise facilities, pool, exterior maintenance, lawn care, and snow removal; Community amenities include exercise room, clubhouse and a private inground pool; Pets allowed (cats and dogs) with size limit — max pet weight about 20 lbs

Exterior

• Parking: Attached garage (1 garage space); asphalt parking; total 1 parking space
• Utilities: Public water; Public sewer
• Home design: Attached single property (quad-ranch configuration); Condo ownership; Entry level: 1; Age: approx. 26–30 years
• Construction: Vinyl siding and cedar exterior
• Exterior features: Located in an adult community with commuter bus and commuter train access; Subdivision: Villas of South Holland

Interior

• Kitchen: Kitchen on the main level (10 x 14)
• Bedrooms: Two bedrooms (both on the main level); Master bedroom on the main level with full bath
• Flooring: Carpet in the living room
• Bathrooms: Two full bathrooms
• Heating & cooling: Natural gas heating; Central air conditioning
• Interior features: Five total rooms; Gas log fireplace in the living room
• Laundry & utility: Main-level laundry room (6 x 10) with gas dryer hookup and in-unit washer/dryer capability

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $229k.

Deal economics

• At list price, monthly cash flow is $250 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $229k).
• Recommended offer: $202k (12.0% below list) — sets the bar for market timing.

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: 135 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 6d on market — plan ~1-2 weeks tenant-placement turnaround); 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 266 days — a 12% lower offer ($202k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $201,520 (12.0% below list)

Questions for the listing agent

1. It's been on market 266 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
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 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: 1.19% ✓
• Cap rate: 7.60%
• Cash-on-cash: 4.67%
• DSCR: 1.21
• GRM: 7.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -8.9%
• Equity multiple: 0.67×
• Total profit: $-20,972
• Equity at exit: $34,145

10-year hold

• IRR: 0.7%
• Equity multiple: 1.05×
• Total profit: $3,166
• Equity at exit: $19,800

Cash invested: $64,120 (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: 135
• Price-to-rent: 7.0×

Monthly cashflow live

• Estimated rent: $2,718 medium
• Mortgage (P&I): −$1,201
• Tax est. 1.5%: −$286 /mo · $3,435/yr
• Insurance: −$95
• HOA: −$315
• Vacancy / Maint / Mgmt: −$571
• Net cashflow: $250

Break-even live

Break-even rent $2,402

Max offer price $229,000

Occupancy floor 86%

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: $57,250
• Closing costs: $6,870
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
16246 Dobson Ave South Holland, IL	3.0	2.0	1250	$3,170	$2.54	1d	1	1.12mi
16048 Halsted St Unit 2 Harvey, IL	3.0	1.0	1091	$1,650	$1.51	24d	1	1.18mi
16001 Avalon Ave South Holland, IL	3.0	2.0	1136	$3,330	$2.93	6d	1	1.46mi

HOA detail condo

• Monthly dues: $315 · $3,780/yr
• Likely covers: landscapingpoolgym
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 16 events

1. 2026-06-18
   days on market $229,000 Active 266 DOM
2. 2026-06-17
   days on market $229,000 Active 265 DOM
3. 2026-06-16
   days on market $229,000 Active 264 DOM
4. 2026-06-15
   days on market $229,000 Active 263 DOM
5. 2026-06-13
   days on market $229,000 Active 261 DOM
6. 2026-06-13
   days on market $229,000 Active 260 DOM
7. 2026-06-09
   days on market $229,000 Active 257 DOM
8. 2026-06-08
   days on market $229,000 Active 256 DOM
9. 2026-06-07
   days on market $229,000 Active 255 DOM
10. 2026-06-04
    days on market $229,000 Active 252 DOM
11. 2026-06-03
    days on market $229,000 Active 251 DOM
12. 2026-06-02
    days on market $229,000 Active 250 DOM
13. 2026-06-01
    days on market $229,000 Active 249 DOM
14. 2026-05-31
    days on market $229,000 Active 248 DOM
15. 2026-03-27
    price $235,000
16. 2025-09-24
    listed $245,000 Active

ⓘ 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 6/10 Major FEMA zone X (unshaded) · 70% 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
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $32,616
• − Mortgage interest: −$12,828
• − Property taxes: −$3,435
• − Insurance: −$1,145
• − Repairs & maintenance: −$2,609
• − Management: −$2,609
• − HOA: −$3,780
• − Depreciation: −$6,662
• Taxable loss: −$452
• Est. tax savings @ 24.0%: +$108
• After-tax cash flow: $3,104/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

-4.1% since first listed

2 events — show timeline

• 2026-03-27 Price Changed $235,000 MRED as Distributed by MLS Grid
• 2025-09-24 Listed $245,000 MRED as Distributed by MLS Grid