2614 E Goodrich Ave Unit 3A · Burnham, IL 60633

$119,900

2 bd · 2.0 ba · 916 sqft · Condo · 40 Days on market

Built 1995 $200/mo HOA · 14% of rent

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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 +13.1/30.0
• ARV discount +7.5/15.0
• 1% rule +7.0/10.0
• DSCR +3.9/10.0
• 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

THIS SPACIOUS END UNIT 2 BEDROOM, 2 BATH CONDO. EXCELLENT LOCATION ~ THE GOODRICH COMMONS. .. THIS LARGE UNIT FEATURES MASTER BDRM WITH PRIVATE BATH, BALCONY OFF LIVING ROOM- APPLIANCES AND WASHER/DRYER PLUS 1 CAR GARAGE. JUST A LITTLE TLC WILL DO IT!!! THIS CONDO IS LOCATED NEAR BUS ROUTES, THE METRA AND INTERSTATE ACCESS. COME SEE THE POTENTIAL FOR YOURSELF!

Key facts

• Near metra
• Near bus routes
• Private bath

Tags

• PRIVATE BATH
• BALCONY OFF LIVING ROOM
• NEAR BUS ROUTES
• NEAR METRA
• NEAR INTERSTATE ACCESS

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $120k.

Deal economics

• At list price, monthly cash flow is $-4 ($-43/yr) — negative.
• To cash-flow at today's rent, offer at most $119k (0.5% below list).
• Meets the 1% rule at list price ($1k rent vs $120k).
• Recommended offer: $116k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 74/100 on livability (#264 in IL, #4,889 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: employment D+, amenities F, health & safety 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: Wilson Elementary School (366 students, 0% FRL); Wentworth Jr High School (math 10% / reading 13%, grade F, #571 of 665 statewide, top 86%, 311 students, 0% FRL); Thornton Fractnl No High School (math 6% / reading 10%, grade F, #587 of 693 statewide, top 85%, 1,383 students, 0% FRL).
• Market conditions: 23 active listings in the ZIP; 26 comparable units currently listed for rent nearby; rentals at typical pace (median 16d on market — plan ~3-4 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 $829 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 40 days — a 3% lower offer ($116k) is reasonable based on typical stale-listing flexibility.
• 5 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.
• Current owner paid $22k; list at $120k implies a 433% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 2.6% of price.

Recommended offer $116,303 (3.0% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 40 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. 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?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. 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.
10. 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.
11. 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: 1.20% ✓
• Cap rate: 6.26%
• Cash-on-cash: -0.13%
• DSCR: 0.99
• GRM: 6.9

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: -16.3%
• Equity multiple: 0.42×
• Total profit: $-19,445
• Equity at exit: $17,877

10-year hold

• IRR: -7.7%
• Equity multiple: 0.51×
• Total profit: $-16,360
• Equity at exit: $10,367

Cash invested: $33,572 (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 60633

• Home prices YoY: -24.8%
• Active inventory: 23
• Price-to-rent: 6.9×

Monthly cashflow live

• Estimated rent: $1,439 high
• Mortgage (P&I): −$629
• Tax from tax record: −$262 /mo · $3,140/yr
• Insurance: −$50
• HOA: −$200
• Vacancy / Maint / Mgmt: −$302
• Net cashflow: $-4

Break-even live

Break-even rent $1,444

Max offer price $119,265

Occupancy floor 95%

Sensitivity live

Price	-10% $64	-5% $30	+0% $-4	+5% $-38	+10% $-71
Rent	-10% $-117	-5% $-60	+0% $-4	+5% $53	+10% $110
Rate	-1.0pp $57	-0.5pp $27	base $-4	+0.5pp $-35	+1.0pp $-66

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: $29,975
• Closing costs: $3,597
• Reserves months: —
• Total cash needed: —

Rent comps 26 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2790 E State St Apt 2E Burnham, IL	3.0	2.0	1100	$1,695	$1.54	26d	1	0.19mi
14501 Torrence Ave Unit 1B Chicago, IL	1.0	1.0	675	$1,095	$1.62	12d	1	0.31mi
14501 S Torrence Ave Chicago, IL	1.0–2.0	1.0	737	$1,250	$1.69	14d	2	0.31mi
14501 Torrence Ave Unit 3A Burnham, IL	2.0	1.0	800	$1,250	$1.56	12d	1	0.31mi
14507 Torrence Ave Unit 3C Burnham, IL	1.0	1.0	675	$1,150	$1.70	12d	1	0.31mi
14507 Torrence Ave Unit 1C Burnham, IL	1.0	1.0	675	$1,095	$1.62	12d	1	0.31mi
14500 Torrence Ave Unit 1B Burnham, IL	1.0	1.0	675	$1,195	$1.77	26d	1	0.33mi
14500 S Torrence Ave Apt 1C Burnham, IL	1.0	1.0	675	$1,195	$1.77	1d	1	0.35mi
14446 Torrence Ave Unit 2C Burnham, IL	1.0	1.0	700	$1,195	$1.71	26d	1	0.35mi
1601 Downs Dr Unit 3S Calumet City, IL	2.0	1.0	750	$1,400	$1.87	26d	1	0.59mi
250 Yates Ave Unit 1616 Dolton 1E Calumet City, IL	2.0	1.0	875	$1,465	$1.67	9d	1	0.59mi
101 Oglesby Ave Calumet City, IL	2.0	1.0	1100	$1,800	$1.64	14d	1	0.62mi
101 Oglesby Ave Calumet City, IL	2.0	1.0	1000	$1,800	$1.80	21d	1	0.62mi
101 Oglesby Ave Calumet City, IL	2.0	1.0	1000	$1,800	$1.80	24d	1	0.62mi
460 Hoxie Ave Unit R Calumet City, IL	2.0	1.0	800	$1,650	$2.06	9d	1	0.66mi
460 Hoxie Ave Unit R Calumet City, IL	2.0	1.0	800	$1,650	$2.06	16d	1	0.66mi
486 Buffalo Ave Unit 1C Calumet City, IL	1.0	1.0	800	$1,500	$1.88	26d	1	0.77mi
486 Buffalo Ave Unit 1D Calumet City, IL	1.0	1.0	800	$975	$1.22	26d	1	0.77mi
1860 State St Calumet City, IL	3.0	1.0	1100	$1,800	$1.64	19d	1	0.91mi
405 Clyde Ave Calumet City, IL	3.0	1.0	973	$2,300	$2.36	0d	1	1.01mi
634 Sibley Blvd Calumet City, IL	1.0–2.0	1.0	710	$1,450	$2.04	6d	2	1.10mi
495 Madison Ave Unit 1D Calumet City, IL	1.0	1.0	595	$1,175	$1.97	16d	1	1.27mi
323 Memorial Dr #1 Calumet City, IL	1.0	1.0	1000	$1,250	$1.25	26d	1	1.31mi
323 Memorial Dr Unit 2 Calumet City, IL	2.0	1.0	1000	$1,600	$1.60	26d	1	1.31mi
14610 Blackstone Ave Dolton, IL	3.0	1.0	1017	$2,400	$2.36	8d	1	1.46mi
14738 Blackstone Ave Dolton, IL	3.0	1.0	1017	$2,400	$2.36	12d	1	1.49mi

HOA detail condo

• Monthly dues: $200 · $2,400/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 24 events

1. 2026-06-21
   days on market $119,900 Active 40 DOM
2. 2026-06-18
   days on market $119,900 Active 37 DOM
3. 2026-06-17
   days on market $119,900 Active 36 DOM
4. 2026-06-16
   days on market $119,900 Active 35 DOM
5. 2026-06-15
   days on market $119,900 Active 34 DOM
6. 2026-06-13
   days on market $119,900 Active 32 DOM
7. 2026-06-09
   days on market $119,900 Active 28 DOM
8. 2026-06-08
   days on market $119,900 Active 27 DOM
9. 2026-06-07
   days on market $119,900 Active 26 DOM
10. 2026-06-04
    days on market $119,900 Active 23 DOM
11. 2026-06-03
    days on market $119,900 Active 22 DOM
12. 2026-06-02
    days on market $119,900 Active 21 DOM
13. 2026-06-01
    days on market $119,900 Active 20 DOM
14. 2026-05-31
    days on market $119,900 Active 19 DOM
15. 2026-05-12
    listed $119,900 Active
16. 2026-04-22
    historical
17. 2026-03-26
    listed Active
18. 2025-09-01
    historical $1,500
19. 2025-05-28
    listed $1,500
20. 2025-05-22
    historical
21. 2025-05-12
    listed Active
22. 2025-05-06
    historical
23. 2025-04-08
    listed Active
24. 2015-05-07
    soldstatus $22,500

ⓘ 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: $3,140 · $262/mo
• Projected year-2 tax: $3,140 · $262/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 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: $17,268
• − Mortgage interest: −$6,716
• − Property taxes: −$3,140
• − Insurance: −$600
• − Repairs & maintenance: −$1,381
• − Management: −$1,381
• − HOA: −$2,400
• − Depreciation: −$3,488
• Taxable loss: −$1,839
• Est. tax savings @ 24.0%: +$441
• After-tax cash flow: $398/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 — Burnham

• Score: 74/100
• State rank: #264
• US rank: #4889

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Burnham, IL
• Population (ZIP): 12,485

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: Hispanic / Latino 45% Black 29% White 25% Two or more races 13%
• Hispanic origin (detail): Mexican 40% Puerto Rican 3%
• Common ancestry: Romanian 12% Armenian 2% Iranian 1%
• Foreign-born: 15% · Canada
• Languages at home: 69% English-only · Spanish 27% Arabic 2% Other Indo-European 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: ▼ -90.46%
• Current HPI: 274.4127
• 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

+432.9% since first listed

10 events — show timeline

• 2026-05-12 Listed $119,900 MRED as Distributed by MLS Grid
• 2026-04-22 Listing Removed — MRED as Distributed by MLS Grid
• 2026-03-26 Listed — MRED as Distributed by MLS Grid
• 2025-09-01 Rental Removed $1,500 MRED
• 2025-05-28 Listed for Rent $1,500 MRED
• 2025-05-22 Listing Removed — MRED as Distributed by MLS Grid
• 2025-05-12 Listed — MRED as Distributed by MLS Grid
• 2025-05-06 Listing Removed — MRED as Distributed by MLS Grid
• 2025-04-08 Listed — MRED as Distributed by MLS Grid
• 2015-05-07 Sold (Public Records) $22,500 Public Records

Property tax history

+2.2%/yr

Latest (2023): $3,140 · +5042.5% YoY. Source: county tax records.