17871 Locust St · Lansing, IL 60438

$170,000

3 bd · 1.5 ba · 930 sqft · SingleFamily public records · 318 Days on market

Built 1972 7,300 sqft lot Est $166k · 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 +16.9/30.0
• ARV discount +6.3/15.0
• DSCR +5.3/10.0
• 1% rule +4.1/10.0
• 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

Welcome to your dream home. This charming 3-bedroom, 1.5-bath retreat spans 930 sq ft on a generous 7,350 sq ft lot, nestled in a peaceful and quiet neighborhood. This move-in-ready gem is in excellent condition, offering a seamless transition for new owners, though optional updates allow you to add your personal touch. Step inside to discover a warm, inviting interior with hardwood floors, cozy bedrooms, and a well-appointed bathroom, complemented by a bright living space perfect for relaxation or entertaining. The spacious lot provides a private oasis with lush greenery, ideal for outdoor enjoyment or future enhancements. The property also features an oversized 2-car garage with ample

Key facts

• 7,300 sq ft lot
• 2 garage spots
• Built 1972

Property features AI

Finance

• Other: Property assessed/living area source: assessor; Parcel number available
• HOA & community: No master association fee required

Exterior

• Parking: Detached garage (concrete) — 2 garage spaces, 2 parking spaces total; Garage is owned
• Utilities: Public water; Public sewer
• Home design: Detached single-family home; Split-level / bi-level design; Fee simple ownership
• Construction: Built approximately 51–60 years ago; Built before 1978; Brick and frame construction; Brick/mortar foundation; Asphalt roof
• Exterior features: Park, sidewalks, and street lights in the neighborhood; Lot about 50 x 146 (less than 0.25 acre)

Interior

• Kitchen: Kitchen on main level (about 15 x 12); Microwave; Dishwasher; Refrigerator
• Bedrooms: Three bedrooms (master on second level, two additional bedrooms on second level — each about 8 x 10)
• Flooring: Hardwood flooring; Carpet in living room
• Bathrooms: One full bathroom; One half bathroom; Basement includes a bathroom
• Heating & cooling: Other heating; Other cooling
• Interior features: Partially finished, full basement; Six total rooms; Hardwood flooring in some areas; Carpet in living room; One fireplace in the family room
• Laundry & utility: Laundry room; Washer and dryer included

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $170k.

Deal economics

• At list price, monthly cash flow is $113 ($1k/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 $154k (9.3% below list).
• Recommended offer: $150k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.1% vs local median 5.9% in Lansing — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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: crime D+, health & safety D+, amenities F.
• 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.
• Zoned schools: Oak Glen Elem School (math 12% / reading 17%, grade F, #1,278 of 2,056 statewide, top 65%, 529 students, 0% FRL); Memorial Jr High School (math 9% / reading 20%, grade F, #517 of 665 statewide, top 79%, 860 students, 0% FRL); Thornton Fractnl So High School (math 11% / reading 14%, grade F, #504 of 693 statewide, top 73%, 1,927 students, 0% FRL).
• Market conditions: 136 active listings in the ZIP; 14 comparable units currently listed for rent nearby; rentals at typical pace (median 20d 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 318 days — a 12% lower offer ($150k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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.

Recommended offer $149,600 (12.0% below list)

Questions for the listing agent

1. It's been on market 318 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 1972 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
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 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: 0.91% ✗
• Cap rate: 7.09%
• Cash-on-cash: 2.84%
• DSCR: 1.13
• GRM: 9.2

CMA / ARV

• ARV (on-the-fly): $165,540
• Comps found: 7

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2036 Thornton Lansing Rd	0.15mi	2/1.0 (-1)	908 (-2%)	5mo	$100,000	$110	78
2216 177th St	0.23mi	3/1.0	877 (-6%)	6mo	$218,000	$249	72
17935 Oakley Ave	0.52mi	3/2.0	916 (-2%)	9mo	$170,000	$186	64
17912 School St	0.74mi	3/1.0	942 (+1%)	2mo	$140,000	$149	60
2522 Indiana Ave	0.51mi	3/3.0	1,012 (+9%)	6mo	$180,000	$178	50
17915 Glen Oak Ave	0.33mi	2/2.0 (-1)	1,011 (+9%)	17mo	$164,500	$163	49
2205 182nd St	0.43mi	3/2.0	1,060 (+14%)	9mo	$232,000	$219	47

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: -11.8%
• Equity multiple: 0.57×
• Total profit: $-20,389
• Equity at exit: $25,348

10-year hold

• IRR: -2.7%
• Equity multiple: 0.82×
• Total profit: $-8,591
• Equity at exit: $14,698

Cash invested: $47,600 (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: 136
• Price-to-rent: 9.2×

Monthly cashflow live

• Estimated rent: $1,541 high
• Mortgage (P&I): −$891
• Tax from tax record: −$142 /mo · $1,709/yr
• Insurance: −$71
• HOA: −$0
• Vacancy / Maint / Mgmt: −$324
• Net cashflow: $113

Break-even live

Break-even rent $1,398

Max offer price $170,000

Occupancy floor 88%

Sensitivity live

Price	-10% $209	-5% $161	+0% $113	+5% $65	+10% $16
Rent	-10% $-9	-5% $52	+0% $113	+5% $174	+10% $234
Rate	-1.0pp $198	-0.5pp $156	base $113	+0.5pp $69	+1.0pp $24

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: $42,500
• Closing costs: $5,100
• Reserves months: —
• Total cash needed: —

Rent comps 14 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
17754 Rosewood Dr Unit 1N Lansing, IL	2.0	1.0	850	$1,370	$1.61	26d	1	0.24mi
17640 Rosewood Dr Unit 2A Lansing, IL	2.0	1.0	950	$1,475	$1.55	19d	1	0.29mi
17723 Exchange Ave Unit 17723-1N Lansing, IL	3.0	2.0	1100	$1,800	$1.64	0d	1	0.63mi
18361 Glen Oak Ave Unit 1E Lansing, IL	2.0	1.0	900	$1,400	$1.56	26d	1	0.71mi
18381 Torrence Ave Lansing, IL	2.0	1.0	900	$1,300	$1.44	26d	1	0.71mi
18440 Torrence Ave Lansing, IL	2.0	1.0	800	$1,200	$1.50	26d	1	0.81mi
18550 Torrence Ave #25 Lansing, IL	2.0	1.0	1000	$1,300	$1.30	13d	1	0.91mi
3020 178th St Apt C7 Lansing, IL	2.0	1.0	900	$1,550	$1.72	26d	1	0.99mi
3020 178th St Unit C1 Lansing, IL	2.0	1.0	900	$1,550	$1.72	0d	1	1.00mi
3007 Bernice Rd Unit 3007 1S Lansing, IL	2.0	1.0	850	$1,400	$1.65	0d	1	1.14mi
3023 Bernice Rd Apt 2S Lansing, IL	3.0	1.0	1000	$1,600	$1.60	0d	1	1.15mi
3023 Bernice Rd Unit 3030 3N Lansing, IL	3.0	1.0	1000	$1,400	$1.40	0d	1	1.15mi
3069 Bernice Rd Apt 2S Lansing, IL	3.0	1.0	950	$1,535	$1.62	4d	1	1.21mi
3069 Bernice Rd Apt 2N Lansing, IL	3.0	1.0	950	$1,535	$1.62	22d	1	1.21mi

Listing history 18 events

1. 2026-06-21
   days on market $170,000 Active 318 DOM
2. 2026-06-18
   days on market $170,000 Active 315 DOM
3. 2026-06-17
   days on market $170,000 Active 314 DOM
4. 2026-06-16
   days on market $170,000 Active 313 DOM
5. 2026-06-15
   days on market $170,000 Active 312 DOM
6. 2026-06-13
   days on market $170,000 Active 310 DOM
7. 2026-06-09
   days on market $170,000 Active 306 DOM
8. 2026-06-08
   days on market $170,000 Active 305 DOM
9. 2026-06-07
   days on market $170,000 Active 304 DOM
10. 2026-06-04
    days on market $170,000 Active 301 DOM
11. 2026-06-03
    days on market $170,000 Active 300 DOM
12. 2026-06-02
    days on market $170,000 Active 299 DOM
13. 2026-06-01
    days on market $170,000 Active 298 DOM
14. 2026-05-31
    days on market $170,000 Active 297 DOM
15. 2025-08-25
    status Active
16. 2025-08-21
    historical Contingent - Continue to Show
17. 2025-08-07
    listed $170,000 Active
18. 2006-09-22
    soldstatus $157,000

ⓘ 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: $1,709 · $142/mo
• Projected year-2 tax: $2,784 · $232/mo
• Expected delta: +$1,075/yr (+$90/mo · 62.9%)

ⓘ 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 ≥103°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: $18,493
• − Mortgage interest: −$9,523
• − Property taxes: −$1,709
• − Insurance: −$850
• − Repairs & maintenance: −$1,479
• − Management: −$1,479
• − Depreciation: −$4,945
• Taxable loss: −$1,493
• Est. tax savings @ 24.0%: +$358
• After-tax cash flow: $1,711/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

+8.3% since first listed

4 events — show timeline

• 2025-08-25 Relisted — MRED as Distributed by MLS Grid
• 2025-08-21 Contingent — MRED as Distributed by MLS Grid
• 2025-08-07 Listed $170,000 MRED as Distributed by MLS Grid
• 2006-09-22 Sold (Public Records) $157,000 Public Records

Property tax history

-6.0%/yr

Latest (2023): $1,709 · -11.2% YoY. Source: county tax records.