15333 Cherry Ln · Markham, IL 60428

$84,500

3 bd · 1.0 ba · 1,100 sqft · SingleFamily public records · 227 Days on market

Built 1960

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.5/10.0

Listing remarks

Exciting opportunity! This frame 1 story home offers 3 bedrooms, 1 full bath, and a 1-car attached carport! This property is waiting for the right owner to unlock its full potential and turn it into a stunning home. Conveniently located near shopping and transportation, this home is ideal for a first-time buyer ready to transform it into a fabulous living space or an investor looking to add to their rental portfolio.

Key facts

• Built 1960
• Listed 227 days

Property features AI

Finance

• HOA & community: No master association fee required

Exterior

• Utilities: Public water; Public sewer
• Home design: Detached single-family home; One-story; Fee simple ownership; Built before 1978
• Construction: Frame construction
• Exterior features: Lot less than 0.25 acre; Lot dimensions: 0.17

Interior

• Kitchen: Kitchen (main level, 18 x 6)
• Bedrooms: Master bedroom (main level, 12 x 11); Bedroom 2 (main level, 11 x 11); Bedroom 3 (main level, 11 x 10)
• Bathrooms: 1 full bathroom
• Heating & cooling: Natural gas heating; Forced air
• Interior features: Five total rooms; Dining room; Family room; Living room
• Laundry & utility: Laundry room

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $84k.

Deal economics

• At list price, monthly cash flow is $575 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $84k).
• Recommended offer: $74k (12.0% below list) — sets the bar for market timing.
• Cap rate 14.5% vs local median 10.2% in Markham — 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 76/100 on livability (#186 in IL, #3,539 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: crime D, amenities D, employment D.
• Bremen Chsd 228 (suburban): math 15% / reading 17% proficiency, ranked #468 of 620 in IL (top 76%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 65 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 6d on market — plan ~1-2 weeks tenant-placement turnaround); 6,272 units permitted in Cook County in 2024 (4,658 in 5+ unit buildings).

Forward outlook

• In year one you build about $9k of equity ($584 loan paydown + $8k appreciation (10.0% local appreciation)).
• At projected returns (10.0% appreciation + 3.0% rent growth), your $24k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 227 days — a 12% lower offer ($74k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $50k (37%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $70k; 22% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $74,360 (12.0% below list)

Questions for the listing agent

1. It's been on market 227 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 1960 — 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 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?
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. 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.
8. 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.
9. 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: 1.74% ✓
• Cap rate: 14.46%
• Cash-on-cash: 29.16%
• DSCR: 2.30
• GRM: 4.8

CMA / ARV

• ARV (on-the-fly): $184,800
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
15315 Cherry Ln	0.05mi	3/1.0	1,040 (-6%)	3mo	$195,000	$188	86
15313 Cherry Ln	0.06mi	3/1.0	1,036 (-6%)	3mo	$89,000	$86	85
15417 Cherry Ln	0.07mi	3/1.0	1,040 (-6%)	5mo	$157,000	$151	83
15422 Cherry Ln	0.09mi	3/1.5	1,040 (-6%)	4mo	$175,000	$168	81
15330 Cherry Ln	0.05mi	4/2.0 (+1)	1,036 (-6%)	2mo	$249,900	$241	78
15435 Hamlin Ave	0.44mi	3/1.0	1,107 (+1%)	3mo	$155,000	$140	76
3236 Roesner Dr	0.31mi	3/1.0	1,036 (-6%)	5mo	$77,000	$74	72
3813 153rd St	0.42mi	2/1.0 (-1)	1,075 (-2%)	1mo	$268,130	$249	71
15120 Springfield Ave	0.60mi	3/2.0	1,127 (+2%)	1mo	$236,000	$209	63
14850 Homan Ave	0.64mi	3/1.5	1,107 (+1%)	5mo	$185,000	$167	63
14820 Turner Ave	0.71mi	3/1.0	1,064 (-3%)	3mo	$150,000	$141	59
14839 Lawndale Ave	0.70mi	3/2.0	1,086 (-1%)	4mo	$217,000	$200	58

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold

• IRR: 46.4%
• Equity multiple: 4.49×
• Total profit: $82,665
• Equity at exit: $76,124

10-year hold

• IRR: 40.3%
• Equity multiple: 10.07×
• Total profit: $214,680
• Equity at exit: $164,165

Cash invested: $23,660 (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 60428

• Home prices YoY: 8.5%
• Active inventory: 65
• Price-to-rent: 4.8×

Monthly cashflow live

• Estimated rent: $1,467 medium
• Mortgage (P&I): −$443
• Tax est. 1.5%: −$106 /mo · $1,268/yr
• Insurance: −$35
• HOA: −$0
• Vacancy / Maint / Mgmt: −$308
• Net cashflow: $575

Break-even live

Break-even rent $739

Max offer price $84,500

Occupancy floor 56%

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: $21,125
• Closing costs: $2,535
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3349 147th St Unit 3240 06 Midlothian, IL	2.0	1.0	817	$1,500	$1.84	5d	1	0.86mi
3542 147th St Midlothian, IL	2.0	1.0	817	$1,500	$1.84	6d	2	0.91mi
14521 Richmond Ave Unit 3 Posen, IL	2.0	1.0	850	$1,375	$1.62	24d	1	1.28mi

Listing history 19 events

1. 2026-06-13
   statusdays on market $84,500 Pending 227 DOM
2. 2026-06-09
   days on market $84,500 Active 226 DOM
3. 2026-06-08
   days on market $84,500 Active 225 DOM
4. 2026-06-07
   days on market $84,500 Active 224 DOM
5. 2026-06-04
   days on market $84,500 Active 221 DOM
6. 2026-06-03
   days on market $84,500 Active 220 DOM
7. 2026-06-02
   days on market $84,500 Active 219 DOM
8. 2026-06-01
   days on market $84,500 Active 218 DOM
9. 2026-05-31
   days on market $84,500 Active 217 DOM
10. 2026-04-23
    price $87,900
11. 2026-03-19
    price $95,000
12. 2026-03-10
    status Active
13. 2026-03-04
    status Pending
14. 2026-02-05
    price $99,900
15. 2026-01-02
    price $115,000
16. 2025-11-20
    price $119,500
17. 2025-10-20
    listed $134,900 Active
18. 2025-07-24
    historical
19. 2003-11-20
    soldstatus $69,500

ⓘ 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) · 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
• 🫁 Air quality 3/10 Moderate 4 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,604
• − Mortgage interest: −$4,733
• − Property taxes: −$1,268
• − Insurance: −$422
• − Repairs & maintenance: −$1,408
• − Management: −$1,408
• − Depreciation: −$2,458
• Taxable income: $5,906
• Est. tax owed @ 24.0%: −$1,418
• After-tax cash flow: $5,483/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: Bremen Chsd 228
• NCES district ID: 1707050
• Math proficiency: 15% ▼ -4.00%
• Reading proficiency: 17% ▼ -5.00%
• Median HH income: $57,625
• Composite: 15.32/100
• National rank: #9327
• State rank: #468 of 620 in IL

Livability — Markham

• Score: 76/100
• State rank: #186
• US rank: #3539

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Markham, IL
• City population: 10,980
• Population (ZIP): 10,980

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: Predominantly Black (69%)
• Race & ethnicity: Black 69% Hispanic / Latino 17% White 11% Two or more races 4%
• Hispanic origin (detail): Mexican 16%
• Common ancestry: Romanian 1% Lithuanian 1% Iranian 1%
• Foreign-born: 8% · Canada
• Languages at home: 86% English-only · Spanish 14%

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: ▲ 23.63%
• Current HPI: 302.333
• 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

+26.5% since first listed

10 events — show timeline

• 2026-04-23 Price Changed $87,900 MRED as Distributed by MLS Grid
• 2026-03-19 Price Changed $95,000 MRED as Distributed by MLS Grid
• 2026-03-10 Relisted — MRED as Distributed by MLS Grid
• 2026-03-04 Pending — MRED as Distributed by MLS Grid
• 2026-02-05 Price Changed $99,900 MRED as Distributed by MLS Grid
• 2026-01-02 Price Changed $115,000 MRED as Distributed by MLS Grid
• 2025-11-20 Price Changed $119,500 MRED as Distributed by MLS Grid
• 2025-10-20 Listed $134,900 MRED as Distributed by MLS Grid
• 2025-07-24 Listing Removed — MRED as Distributed by MLS Grid
• 2003-11-20 Sold (Public Records) $69,500 Public Records

Property tax history

+4.9%/yr

Latest (2023): $5,338 · +57.7% YoY. Source: county tax records.