18035 Oakley Ave · Lansing, IL 60438

$149,999

3 bd · 1.5 ba · 1,717 sqft · SingleFamily public records · 126 Days on market

Built 1953 6,664 sqft lot Est $252k · 41% 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 +24.7/30.0
• ARV discount +15.0/15.0
• 1% rule +9.8/10.0
• DSCR +8.0/10.0
• 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

Spacious, solid, and move-in ready with major updates already done - this 4-bedroom, 1.5-bath home offers incredible value for the space. Step inside to a bright living room that flows into a formal dining area and an oversized kitchen with ample cabinet space. Hardwood floors run through much of the home, adding warmth and character throughout. What truly sets this property apart is the impressive layout and size. The rear addition provides versatile living space perfect for a family room, home office, playroom, or entertaining area. Upstairs you'll find two generously sized bedrooms, each with double closets, along with a convenient half bath - ideal for privacy and separation of space. T

Key facts

• Oversized kitchen
• Bright living room
• Formal dining area

Tags

• BRIGHT LIVING ROOM
• FORMAL DINING AREA
• OVERSIZED KITCHEN
• AMPLE CABINET SPACE
• HARDWOOD FLOORS
• IMPRESSIVE LAYOUT

Property features AI

Finance

• Other: Subdivision: Lansing Meadows; Township: Thornton; Corporate limits: Lansing
• HOA & community: No master association fee required

Exterior

• Parking: Detached garage (garage owned) with garage door opener; Approximately 2.5 garage/total parking spaces; Concrete driveway
• Utilities: Public water; Public sewer
• Home design: Detached single-family home; 1.5-story design; Fee simple ownership; Built before 1978 (71–80 years old); Cedar exterior construction
• Construction: Cedar construction
• Exterior features: Lot dimensions approximately 47 x 140; Lot smaller than 0.25 acre; Directions: Ridge Rd. to Oakwood, north to property address

Interior

• Kitchen: Kitchen on main level; Range; Dishwasher
• Bedrooms: 4 bedrooms (Master and one bedroom on second level; other bedrooms on main level); Bedroom sizes include 15 x 16 (master), 14 x 15, 13 x 11, 10 x 11
• Flooring: Hardwood flooring in living room and dining room
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Natural gas heating; Central air conditioning
• Interior features: Unfinished full basement; 8 total rooms
• Laundry & utility: Laundry room

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $150k.

Deal economics

• At list price, monthly cash flow is $313 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $150k).
• Recommended offer: $132k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.8% vs local median 5.8% in Lansing — 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 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; 6 comparable units currently listed for rent nearby; rentals leasing fast (median 2d 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).
• This rent runs 35% of the median local income ($76k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 126 days — a 12% lower offer ($132k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: property tax is 4.7% of price; built in 1953 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $131,999 (12.0% below list)

Questions for the listing agent

1. It's been on market 126 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1953 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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. 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?
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: 1.48% ✓
• Cap rate: 8.79%
• Cash-on-cash: 8.94%
• DSCR: 1.40
• GRM: 5.6

CMA / ARV

• ARV (on-the-fly): $252,399
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
18062 Exchange Ave	0.11mi	4/2.0 (+1)	1,573 (-8%)	2mo	$197,000	$125	72
17909 Glen Oak Ave	0.26mi	3/2.0	1,904 (+11%)	1mo	$135,000	$71	67
2643 Ridge Rd	0.21mi	3/2.0	1,502 (-12%)	2mo	$234,000	$156	66
2858 179th St	0.41mi	4/2.5 (+1)	1,704 (-1%)	6mo	$315,000	$185	66
18342 Wildwood Ave	0.48mi	4/2.0 (+1)	1,700 (-1%)	9mo	$115,500	$68	62
18214 Locust St	0.56mi	3/2.0	1,664 (-3%)	7mo	$262,000	$157	61
18006 Oakwood Ave	0.36mi	4/1.5 (+1)	1,903 (+11%)	2mo	$203,000	$107	59
18353 Chicago Ave	0.65mi	4/2.0 (+1)	1,700 (-1%)	8mo	$250,000	$147	54
18034 Lorenz Ave	0.60mi	4/2.0 (+1)	1,580 (-8%)	7mo	$224,000	$142	46
3051 183rd St	0.67mi	4/3.0 (+1)	1,924 (+12%)	1mo	$298,000	$155	37
2235 177th St	0.65mi	3/2.0	1,943 (+13%)	10mo	$285,000	$147	37
18028 Burnham Ave	0.73mi	3/1.5	1,463 (-15%)	6mo	$239,999	$164	36

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: -2.6%
• Equity multiple: 0.90×
• Total profit: $-4,105
• Equity at exit: $22,365

10-year hold

• IRR: 7.3%
• Equity multiple: 1.55×
• Total profit: $23,221
• Equity at exit: $12,969

Cash invested: $42,000 (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 60438

• Active inventory: 132
• Price-to-rent: 5.6×

Monthly cashflow live

• Estimated rent: $2,220 high
• Mortgage (P&I): −$787
• Tax from tax record: −$592 /mo · $7,105/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$466
• Net cashflow: $313

Break-even live

Break-even rent $1,824

Max offer price $149,999

Occupancy floor 81%

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: $37,500
• Closing costs: $4,500
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
18108 Oakwood Ave Lansing, IL	3.0	1.0	2100	$2,300	$1.10	2d	1	0.37mi
17723 Exchange Ave Unit 17723-1N Lansing, IL	3.0	2.0	1100	$1,800	$1.64	1d	1	0.45mi
18343 Oakwood Ave Lansing, IL	4.0	2.0	1700	$2,700	$1.59	1d	1	0.54mi
2824 186th St Lansing, IL	3.0	2.0	1400	$2,900	$2.07	10d	1	0.72mi
3341 S Schultz Dr Lansing, IL	4.0	2.0	1452	$2,250	$1.55	10d	1	1.15mi
18006 Wentworth Ave #3553 Lansing, IL	2.0	1.0	1900	$1,950	$1.03	1d	1	1.24mi

Listing history 21 events

1. 2026-06-18
   days on market $149,999 Active 126 DOM
2. 2026-06-17
   days on market $149,999 Active 125 DOM
3. 2026-06-16
   days on market $149,999 Active 124 DOM
4. 2026-06-15
   days on market $149,999 Active 123 DOM
5. 2026-06-13
   pricedays on market $149,999 Active 121 DOM
6. 2026-06-09
   days on market $157,999 Active 117 DOM
7. 2026-06-08
   days on market $157,999 Active 116 DOM
8. 2026-06-07
   days on market $157,999 Active 115 DOM
9. 2026-06-04
   days on market $157,999 Active 112 DOM
10. 2026-06-03
    days on market $157,999 Active 111 DOM
11. 2026-06-02
    days on market $157,999 Active 110 DOM
12. 2026-06-01
    days on market $157,999 Active 109 DOM
13. 2026-05-31
    days on market $157,999 Active 108 DOM
14. 2026-05-05
    price $157,999
15. 2026-04-13
    price $164,999
16. 2026-03-05
    price $169,999
17. 2026-02-12
    listed $172,999 Active
18. 2006-04-06
    soldstatus $160,000
19. 1994-09-15
    soldstatus $112,500
20. 1992-08-18
    soldstatus $102,000
21. 1990-09-01
    soldstatus $86,000

ⓘ 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: $7,105 · $592/mo
• Projected year-2 tax: $7,105 · $592/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 4 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $26,642
• − Mortgage interest: −$8,402
• − Property taxes: −$7,105
• − Insurance: −$750
• − Repairs & maintenance: −$2,131
• − Management: −$2,131
• − Depreciation: −$4,364
• Taxable income: $1,759
• Est. tax owed @ 24.0%: −$422
• After-tax cash flow: $3,331/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

+83.7% since first listed

8 events — show timeline

• 2026-05-05 Price Changed $157,999 MRED as Distributed by MLS Grid
• 2026-04-13 Price Changed $164,999 MRED as Distributed by MLS Grid
• 2026-03-05 Price Changed $169,999 MRED as Distributed by MLS Grid
• 2026-02-12 Listed $172,999 MRED as Distributed by MLS Grid
• 2006-04-06 Sold (Public Records) $160,000 Public Records
• 1994-09-15 Sold (Public Records) $112,500 Public Records
• 1992-08-18 Sold (Public Records) $102,000 Public Records
• 1990-09-01 Sold (Public Records) $86,000 Public Records

Property tax history

+3.2%/yr

Latest (2023): $7,105 · +88.6% YoY. Source: county tax records.