15544 Turlington Ave · Harvey, IL 60426

$94,500

4 bd · 4.0 ba · 1,886 sqft · MultiFamily public records · 41 Days on market

Built 1888 10,800 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 +15.0/30.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +0.7/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 1 unit. estimate disagrees with records

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Key facts

• Prime corner lot
• Convenient location
• Maximizing privacy

Tags

• PRIME CORNER LOT
• TWO INCOME GENERATING UNITS
• SEPARATE ENTRIES
• MAXIMIZING PRIVACY
• CONVENIENT LOCATION

Property features AI

Finance

• Other: Parcel number provided
• Financial info: Two units in the building; One unit currently rented for $1,242 with lease through August 1, 2025; Other unit has tenant responsibilities for electric and heat; lease expiration date listed as December 1, 1999 (needs verification); Special service area: No

Exterior

• Utilities: Water from Lake Michigan / public water; Public sewer
• Home design: Two-to-four unit property; Fee simple ownership; Over 100 years old; Built before 1978; Vinyl siding exterior
• Construction: Vinyl siding construction
• Exterior features: Commuter bus and commuter train access nearby; Lot dimensions approximately 60 x 180; Lot smaller than 0.25 acre

Interior

• Kitchen: No appliances listed for units
• Bedrooms: 5 bedrooms total; Building includes a 3‑bed unit and a 2‑bed unit
• Bathrooms: 2 full bathrooms total
• Heating & cooling: Natural gas heating with forced air
• Interior features: 9 total rooms; Unfinished, daylight basement
• Laundry & utility: Tenant pays electric and heat for units (where noted)

What this means for you Summary

Snapshot

• This is a 4-bed/4.0-bath multifamily listed at $94k.

Deal economics

• At list price, monthly cash flow is $3k ($31k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $94k).
• Recommended offer: $92k (3.0% below list) — sets the bar for market timing.
• Cap rate 38.9% vs local median 9.3% in Harvey — 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 67/100 on livability (#539 in IL) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A-; Watch: health & safety D+, schools F, crime F.
• 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: 134 active listings in the ZIP; 6,272 units permitted in Cook County in 2024 (4,658 in 5+ unit buildings).

Forward outlook

• In year one you build about $10k of equity ($653 loan paydown + $9k appreciation (10.0% local appreciation)).
• At projected returns (10.0% appreciation + 3.0% rent growth), your $26k cash investment doubles in ~1 year — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$36k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 41 days — a 3% lower offer ($92k) 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.

Risks & watch-outs

• Watch-outs: built in 1888 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $91,665 (3.0% below list)

Questions for the listing agent

1. It's been on market 41 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1888 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. Crime grade is F 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?
6. 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.
7. 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.
8. 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: 4.32% ✓
• Cap rate: 38.95%
• Cash-on-cash: 116.63%
• DSCR: 6.19
• GRM: 1.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 9.14×
• Total profit: $215,322
• Equity at exit: $85,133

10-year hold

• IRR: —
• Equity multiple: 20.10×
• Total profit: $505,405
• Equity at exit: $183,593

Cash invested: $26,460 (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 60426

• Home prices YoY: 6.9%
• Active inventory: 134
• Price-to-rent: 3.9×

Monthly cashflow live

• Estimated rent: $4,082 medium
• Mortgage (P&I): −$496
• Tax est. 1.5%: −$118 /mo · $1,418/yr
• Insurance: −$39
• HOA: −$0
• Vacancy / Maint / Mgmt: −$857
• Net cashflow: $2,572

Break-even live

Break-even rent $827

Max offer price $94,500

Occupancy floor 32%

Sensitivity live

Price	-10% $2,637	-5% $2,604	+0% $2,572	+5% $2,539	+10% $2,506
Rent	-10% $2,249	-5% $2,410	+0% $2,572	+5% $2,733	+10% $2,894
Rate	-1.0pp $2,619	-0.5pp $2,596	base $2,572	+0.5pp $2,547	+1.0pp $2,522

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$4,082
Total (2 units)			$4,082

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: $23,625
• Closing costs: $2,835
• Reserves months: —
• Total cash needed: —

Listing history 34 events

1. 2026-06-18
   days on market $94,500 Active 41 DOM
2. 2026-06-17
   days on market $94,500 Active 40 DOM
3. 2026-06-16
   days on market $94,500 Active 39 DOM
4. 2026-06-15
   days on market $94,500 Active 38 DOM
5. 2026-06-13
   days on market $94,500 Active 36 DOM
6. 2026-06-13
   days on market $94,500 Active 35 DOM
7. 2026-06-09
   days on market $94,500 Active 32 DOM
8. 2026-06-08
   days on market $94,500 Active 31 DOM
9. 2026-06-07
   days on market $94,500 Active 30 DOM
10. 2026-06-04
    days on market $94,500 Active 27 DOM
11. 2026-06-03
    days on market $94,500 Active 26 DOM
12. 2026-06-02
    days on market $94,500 Active 25 DOM
13. 2026-06-01
    days on market $94,500 Active 24 DOM
14. 2026-05-31
    days on market $94,500 Active 23 DOM
15. 2026-05-14
    price $94,500
16. 2026-05-08
    listed $94,999 Active
17. 2026-05-07
    historical
18. 2026-03-16
    status Active
19. 2026-03-06
    status Pending
20. 2025-12-19
    price
21. 2025-10-06
    price
22. 2025-09-05
    price
23. 2025-06-27
    price
24. 2025-05-07
    price
25. 2025-04-24
    price
26. 2025-04-17
    price
27. 2025-04-11
    listed Active
28. 2007-10-04
    historical
29. 2007-04-06
    listed
30. 2005-09-21
    soldstatus $105,000
31. 2004-02-05
    soldstatus $75,000
32. 2001-04-03
    soldstatus $84,000
33. 1985-11-07
    soldstatus $32,500
34. 1985-10-01
    soldstatus $32,500

ⓘ 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 4/10 Moderate FEMA zone X (unshaded) · 21% 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: $48,984
• − Mortgage interest: −$5,293
• − Property taxes: −$1,418
• − Insurance: −$472
• − Repairs & maintenance: −$3,919
• − Management: −$3,919
• − Depreciation: −$2,749
• Taxable income: $31,214
• Est. tax owed @ 24.0%: −$7,491
• After-tax cash flow: $23,369/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 — Harvey

• Score: 67/100
• State rank: #539
• US rank: #11162

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Harvey, IL
• City population: 23,066
• Population (ZIP): 23,066

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: Majority Black (59%)
• Race & ethnicity: Black 59% Hispanic / Latino 33% Two or more races 12% White 3% Asian 2%
• Hispanic origin (detail): Mexican 31%
• Foreign-born: 17% · Canada
• Languages at home: 67% English-only · Spanish 30% Other Indo-European 2% 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: ▲ 20.36%
• Current HPI: 313.7895
• 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

+190.8% since first listed

20 events — show timeline

• 2026-05-14 Price Changed $94,500 MRED as Distributed by MLS Grid
• 2026-05-08 Listed $94,999 MRED as Distributed by MLS Grid
• 2026-05-07 Listing Removed — MRED as Distributed by MLS Grid
• 2026-03-16 Relisted — MRED as Distributed by MLS Grid
• 2026-03-06 Pending — MRED as Distributed by MLS Grid
• 2025-12-19 Price Changed — MRED as Distributed by MLS Grid
• 2025-10-06 Price Changed — MRED as Distributed by MLS Grid
• 2025-09-05 Price Changed — MRED as Distributed by MLS Grid
• 2025-06-27 Price Changed — MRED as Distributed by MLS Grid
• 2025-05-07 Price Changed — MRED as Distributed by MLS Grid
• 2025-04-24 Price Changed — MRED as Distributed by MLS Grid
• 2025-04-17 Price Changed — MRED as Distributed by MLS Grid
• 2025-04-11 Listed — MRED as Distributed by MLS Grid
• 2007-10-04 Listing Removed — MRED as Distributed by MLS Grid
• 2007-04-06 Listed — MRED as Distributed by MLS Grid
• 2005-09-21 Sold (Public Records) $105,000 Public Records
• 2004-02-05 Sold (Public Records) $75,000 Public Records
• 2001-04-03 Sold (Public Records) $84,000 Public Records
• 1985-11-07 Sold (Public Records) $32,500 Public Records
• 1985-10-01 Sold (Public Records) $32,500 Public Records

Property tax history

+3.2%/yr

Latest (2023): $5,883 · +10.3% YoY. Source: county tax records.