412 Dellwood Ave · Fairmont, IL 60441

$174,900

3 bd · 1.0 ba · 964 sqft · Other public records · 17 Days on market

Built 1960 8,712 sqft lot

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Why this score? — see what drove the C+ 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 +27.0/30.0
• DSCR +9.3/10.0
• ARV discount +7.5/15.0
• 1% rule +7.2/10.0
• Rent growth +3.5/5.0
• Schools +3.4/10.0
• Livability +3.4/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Fantastic Lockport opportunity. Great Ranch home in Lockport. 2 bedrooms 1 bathroom. Living room and family room! Breakfast bar in kitchen. Detached garage. Located near 355 Expressway for convenient transportation.

Key facts

• Remodeled bathroom
• Functional layout
• Conveniently located

Tags

• REMODELED BATHROOM
• FUNCTIONAL LAYOUT
• DETACHED GARAGE
• CONVENIENTLY LOCATED

Property features AI

Exterior

• Home design: House
• Exterior features: Lot of approximately 0.20 acres

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath other listed at $175k.

Deal economics

• At list price, monthly cash flow is $487 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $175k).
• Recommended offer: $172k (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads 68/100 on livability (#455 in IL) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: amenities F, health & safety F.
• Lockport Twp Hsd 205 (suburban): math 35% / reading 38% proficiency, ranked #153 of 620 in IL (top 25%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Fairmont School (math 8% / reading 12%, grade F, #1,517 of 2,056 statewide, top 78%, 312 students, 0% FRL); Lockport Township High Sch East (math 35% / reading 38%, grade F, #117 of 693 statewide, top 17%, 3,872 students, 0% FRL).
• Zoned-school proficiency averages 23% at this address vs 36% district-wide (-13 pts) — the specific schools serving this property underperform the Lockport Twp Hsd 205 average; the district grade overstates school quality for this exact location.
• Market conditions: Rents rising (+3.9%/yr); 133 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 2,028 units permitted in Will County in 2024 (530 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.
• Will County population projected to shrink 4% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 3.9% rent growth), your $49k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 17 days — a 2% lower offer ($172k) is reasonable based on typical stale-listing flexibility.
• 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 $56k; list at $175k implies a 212% gain — meaningful room to come down on a strong offer.

Recommended offer $172,276 (1.5% below list)

Questions for the listing agent

1. Built in 1960 — 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 F-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: 1.22% ✓
• Cap rate: 9.64%
• Cash-on-cash: 11.94%
• DSCR: 1.53
• GRM: 6.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.91% rent growth · sell at horizon

5-year hold

• IRR: 2.5%
• Equity multiple: 1.10×
• Total profit: $4,707
• Equity at exit: $26,078

10-year hold

• IRR: 12.9%
• Equity multiple: 2.07×
• Total profit: $52,448
• Equity at exit: $15,122

Cash invested: $48,972 (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 60441

• Home prices YoY: -33.0%
• Rents YoY: 3.9%
• Active inventory: 133
• Price-to-rent: 6.8×

Monthly cashflow live

• Estimated rent: $2,139 high
• Mortgage (P&I): −$917
• Tax from tax record: −$212 /mo · $2,548/yr
• Insurance: −$73
• HOA: −$0
• Vacancy / Maint / Mgmt: −$449
• Net cashflow: $487

Break-even live

Break-even rent $1,522

Max offer price $174,900

Occupancy floor 72%

Sensitivity live

Price	-10% $586	-5% $537	+0% $487	+5% $438	+10% $388
Rent	-10% $318	-5% $403	+0% $487	+5% $572	+10% $656
Rate	-1.0pp $575	-0.5pp $532	base $487	+0.5pp $442	+1.0pp $396

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: $43,725
• Closing costs: $5,247
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
333 Hughes Ave Unit 1S Lockport, IL	2.0	1.0	800	$1,345	$1.68	27d	1	0.61mi
333 Hughes Ave Lockport, IL	2.0	1.0	800	$1,345	$1.68	23d	1	0.61mi
1200 Ada St Joliet, IL	2.0	1.0	1023	$1,900	$1.86	26d	1	1.21mi
560 Diane Ct Lockport, IL	1.0–2.0	1.0–1.5	721	$1,800	$2.50	1d	4	1.28mi
309 May St Lockport, IL	3.0	1.0	1000	$2,600	$2.60	5d	1	1.35mi
309 May St Unit 2 Lockport, IL	3.0	1.0	1000	$2,400	$2.40	12d	1	1.35mi
309 May St Unit 1 Lockport, IL	3.0	1.0	1000	$2,600	$2.60	12d	1	1.35mi
557 E Division St Unit 2 Lockport, IL	2.0	1.0	1000	$1,700	$1.70	24d	1	1.47mi
575 E Division St Lockport, IL	3.0	1.0	800	$1,950	$2.44	27d	1	1.49mi

Listing history 11 events

1. 2026-06-21
   days on market $174,900 Active 17 DOM
2. 2026-06-18
   days on market $174,900 Active 14 DOM
3. 2026-06-17
   days on market $174,900 Active 13 DOM
4. 2026-06-16
   days on market $174,900 Active 12 DOM
5. 2026-06-15
   days on market $174,900 Active 11 DOM
6. 2026-06-13
   days on market $174,900 Active 9 DOM
7. 2026-06-09
   days on market $174,900 Active 5 DOM
8. 2026-06-08
   days on market $174,900 Active 4 DOM
9. 2026-06-07
   days on market $174,900 Active 3 DOM
10. 2026-06-04
    remarks 699-char remark
11. 2026-06-04
    listed $174,900 Active 1 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: $2,548 · $212/mo
• Projected year-2 tax: $3,259 · $272/mo
• Expected delta: +$711/yr (+$59/mo · 27.9%)

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

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 22% 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 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $25,668
• − Mortgage interest: −$9,797
• − Property taxes: −$2,548
• − Insurance: −$874
• − Repairs & maintenance: −$2,053
• − Management: −$2,053
• − Depreciation: −$5,088
• Taxable income: $3,254
• Est. tax owed @ 24.0%: −$781
• After-tax cash flow: $5,068/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: Lockport Twp Hsd 205
• NCES district ID: 1723350
• Math proficiency: 35% ▼ -5.00%
• Reading proficiency: 38% ▼ -4.00%
• Median HH income: $69,994
• Composite: 33.5/100
• National rank: #5440
• State rank: #153 of 620 in IL

Livability — Fairmont

• Score: 68/100
• State rank: #455
• US rank: #9333

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Fairmont, IL
• County: Will County · 412,448 people
• Metro: Chicago-Naperville-Elgin, IL-IN-WI
• Population (ZIP): 36,844
• Household income: $103,374
• Rent vs Own: 15.9% rent · 84.1% own
• Severe rent burden: 519.0

Population outlook (Will County) Hauer SSP2

• Today (2025): 705,368 people
• By 2030: 708,154 · +0.4%
• By 2040: 702,692 · -0.4%
• By 2050: 680,249 · -3.6%
• By 2075: 611,990 · -13.2%
• By 2100: 516,215 · -26.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (76%)
• Race & ethnicity: White 76% Hispanic / Latino 12% Two or more races 9% Black 7%
• Hispanic origin (detail): Mexican 9% Puerto Rican 1%
• Common ancestry: Romanian 18% Iranian 2% Lithuanian 2%
• Foreign-born: 7% · Canada
• Languages at home: 86% English-only · Spanish 7% Russian/Polish/Slavic 4% Other Indo-European 2%

Political lean MEDSL · Will

• 2024 margin: Toss-up / Even · D 50.1% · R 48.5% · Other 1.4%
• 2008→2024 swing: -11.6pp toward R · 2008: 13.2pp · 2024: 1.6pp
• All cycles: 2024: D+1.6 2020: D+8.3 2016: D+5.7 2012: D+3.7 2008: D+13.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -99.43%
• Current HPI: 201.5857
• Rent YoY: ▲ 3.91%
• 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

+234.4% since first listed

8 events — show timeline

• 2026-06-04 Listed $174,900 ForSaleByOwner.com
• 2019-03-20 Sold (MLS) $56,000 MRED as Distributed by MLS Grid
• 2019-02-27 Pending — MRED as Distributed by MLS Grid
• 2019-01-30 Listed $52,300 MRED as Distributed by MLS Grid
• 2009-07-24 Listing Removed — MRED as Distributed by MLS Grid
• 2009-07-22 Listed — MRED as Distributed by MLS Grid
• 2008-02-09 Listing Removed — MRED as Distributed by MLS Grid
• 2007-11-11 Listed — MRED as Distributed by MLS Grid

Property tax history

+2.3%/yr

Latest (2024): $2,548 · +10.2% YoY. Source: county tax records.