146 E 24th St · Chicago Heights, IL 60411

$285,900

4 bd · 2.0 ba · 2,196 sqft · MultiFamily public records · 98 Days on market

Built 1904 6,350 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 +26.0/30.0
• DSCR +8.8/10.0
• ARV discount +7.5/15.0
• 1% rule +7.1/10.0
• Rent growth +4.1/5.0
• Livability +3.6/5.0
• Condition / age +2.5/5.0
• Schools +0.7/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks

Come see this 2 unit Property! Its a great investment opportunity! It offers 3 beds and 1 bathroom on each unit. Each unit has white kitchen cabinets and granite countertops. Each kitchen has stainless steel appliances including fridge, stove and microwave. Some of the updates done in 2022 include new electrical, new plumbing, new drywall, new windows with low E and argon gas for efficiency, new heating system, and a new roof. Additional lot next door included in price. It is only 15 minutes to I-294, and Across the street from Garfield Elementary school.

Key facts

• New drywall
• New plumbing
• New electrical

Tags

• WHITE KITCHEN CABINETS
• GRANITE COUNTERTOPS
• STAINLESS STEEL APPLIANCES
• NEW ELECTRICAL
• NEW PLUMBING
• NEW DRYWALL

Property features AI

Finance

• Other: Two-unit multifamily property; Security deposit listed as 0 for the first unit and N/A for the second unit
• Financial info: Special service area: No; One unit currently rented for $1,700/month; tenant pays electric and gas; lease through September 1, 2026

Exterior

• Utilities: Water from Lake Michigan; Public sewer
• Home design: Two- to four-unit building (2 units total); Fee simple ownership; Rehab completed in 2022; Building over 100 years old; Asphalt roof; Brick exterior
• Construction: Brick construction; Asphalt roof; Built before 1978
• Exterior features: Lot dimensions approximately 50.4 x 126; Lot under 0.25 acre; Located in Chicago Heights

Interior

• Kitchen: Each unit includes a stove, refrigerator and microwave
• Bedrooms: 6 bedrooms total; Each unit is a 3-bedroom (one on the 1st floor, one on the 2nd floor)
• Bathrooms: 2 full bathrooms total (one full bath per unit)
• Heating & cooling: Natural gas heating
• Interior features: 12 total rooms; Unfinished full basement

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/1.0-bath units multifamily listed at $286k.

Deal economics

• At list price, monthly cash flow is $714 ($9k/yr) — positive. Per door: $357/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $286k).
• Recommended offer: $260k (9.0% below list) — sets the bar for market timing.
• Cap rate 9.3% vs local median 6.4% in Chicago Heights — 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 71/100 on livability (#339 in IL) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: employment C-, crime F, amenities F.
• Bloom Twp Hsd 206 (suburban): math 8% / reading 9% proficiency, ranked #591 of 620 in IL (top 95%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Bloom High School (math 7% / reading 8%, grade F, #589 of 693 statewide, top 86%, 1,737 students, 0% FRL).
• Market conditions: Rents rising fast (+6.5%/yr); 224 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 6,272 units permitted in Cook County in 2024 (4,658 in 5+ unit buildings).
• At $3,456/mo this rent would consume 67% of the median local household income ($62k/yr) (locally 1714% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $9k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 6.5% rent growth), your $80k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 98 days — a 9% lower offer ($260k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 17y ago; this cycle's ask has dropped $23k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $35k; list at $286k implies a 717% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1904 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $260,169 (9.0% below list)

Questions for the listing agent

1. It's been on market 98 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1904 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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. 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?
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: 1.21% ✓
• Cap rate: 9.29%
• Cash-on-cash: 10.70%
• DSCR: 1.48
• GRM: 6.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 6.48% rent growth · sell at horizon

5-year hold

• IRR: 3.7%
• Equity multiple: 1.15×
• Total profit: $11,727
• Equity at exit: $42,629

10-year hold

• IRR: 16.3%
• Equity multiple: 2.55×
• Total profit: $124,262
• Equity at exit: $24,719

Cash invested: $80,052 (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 60411

• Home prices YoY: -33.9%
• Rents YoY: 6.5%
• Active inventory: 224
• Price-to-rent: 13.8×

Monthly cashflow live

• Estimated rent: $3,456 high
• Mortgage (P&I): −$1,499
• Tax from tax record: −$398 /mo · $4,778/yr
• Insurance: −$119
• HOA: −$0
• Vacancy / Maint / Mgmt: −$726
• Net cashflow: $714

Break-even live

Break-even rent $2,553

Max offer price $285,900

Occupancy floor 74%

Sensitivity live

Price	-10% $876	-5% $795	+0% $714	+5% $633	+10% $552
Rent	-10% $441	-5% $577	+0% $714	+5% $850	+10% $987
Rate	-1.0pp $858	-0.5pp $786	base $714	+0.5pp $640	+1.0pp $564

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	1	$3,456
Total (2 units)			$3,456

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: $71,475
• Closing costs: $8,577
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1665 Buena Vista Ave Unit 3 Chicago Heights, IL	4.0	1.0	1700	$1,800	$1.06	20d	1	0.89mi

Listing history 34 events

1. 2026-06-21
   days on market $285,900 Active 98 DOM
2. 2026-06-18
   days on market $285,900 Active 95 DOM
3. 2026-06-17
   days on market $285,900 Active 94 DOM
4. 2026-06-16
   days on market $285,900 Active 93 DOM
5. 2026-06-15
   days on market $285,900 Active 92 DOM
6. 2026-06-13
   pricedays on market $285,900 Active 90 DOM
7. 2026-06-13
   days on market $295,900 Active 89 DOM
8. 2026-06-09
   days on market $295,900 Active 86 DOM
9. 2026-06-08
   days on market $295,900 Active 85 DOM
10. 2026-06-07
    days on market $295,900 Active 84 DOM
11. 2026-06-04
    days on market $295,900 Active 81 DOM
12. 2026-06-03
    days on market $295,900 Active 80 DOM
13. 2026-06-02
    days on market $295,900 Active 79 DOM
14. 2026-06-01
    days on market $295,900 Active 78 DOM
15. 2026-05-31
    days on market $295,900 Active 77 DOM
16. 2026-05-12
    price $295,900
17. 2026-04-17
    price $298,900
18. 2026-03-16
    listed $308,900 Active
19. 2023-07-11
    historical
20. 2023-05-12
    historical Contingent - Continue to Show
21. 2023-05-11
    historical
22. 2023-05-01
    listed Active
23. 2023-03-16
    historical Contingent - Continue to Show
24. 2023-03-14
    historical
25. 2023-03-08
    status Active
26. 2023-02-16
    historical Contingent - Continue to Show
27. 2023-02-10
    listed Active
28. 2022-08-16
    soldstatus $35,000
29. 2009-11-02
    soldstatus $26,000
30. 2009-09-21
    status Pending
31. 2009-08-20
    price Price Change
32. 2009-07-21
    price Price Change
33. 2009-06-23
    listed
34. 1996-07-17
    soldstatus $66,000

ⓘ 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: $4,778 · $398/mo
• Projected year-2 tax: $5,634 · $469/mo
• Expected delta: +$856/yr (+$71/mo · 17.9%)

ⓘ 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 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥101°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $41,472
• − Mortgage interest: −$16,015
• − Property taxes: −$4,778
• − Insurance: −$1,430
• − Repairs & maintenance: −$3,318
• − Management: −$3,318
• − Depreciation: −$8,317
• Taxable income: $4,297
• Est. tax owed @ 24.0%: −$1,031
• After-tax cash flow: $7,533/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: Bloom Twp Hsd 206
• NCES district ID: 1706420
• Math proficiency: 8% ▼ -3.00%
• Reading proficiency: 9% ▼ -8.00%
• Median HH income: $39,795
• Composite: 7.4/100
• National rank: #9952
• State rank: #591 of 620 in IL

Livability — Chicago Heights

• Score: 71/100
• State rank: #339
• US rank: #6836

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Chicago Heights, IL
• County: Cook County · 4,486,803 people
• City population: 52,175
• Metro: Chicago-Naperville-Elgin, IL-IN-WI
• Population (ZIP): 52,175
• Household income: $62,073
• Rent vs Own: 34.8% rent · 65.2% own
• Severe rent burden: 1714.0

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 0.66)
• Race & ethnicity: Black 49% Hispanic / Latino 26% White 19% Two or more races 11%
• Hispanic origin (detail): Mexican 22% Puerto Rican 2%
• Common ancestry: Romanian 4% Portuguese 1% Lithuanian 1%
• Foreign-born: 12% · Canada
• Languages at home: 76% English-only · Spanish 21% Russian/Polish/Slavic 1% 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: ▼ -108.75%
• Current HPI: 212.4058
• Rent YoY: ▲ 6.48%
• 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

+348.3% since first listed

19 events — show timeline

• 2026-05-12 Price Changed $295,900 MRED as Distributed by MLS Grid
• 2026-04-17 Price Changed $298,900 MRED as Distributed by MLS Grid
• 2026-03-16 Listed $308,900 MRED as Distributed by MLS Grid
• 2023-07-11 Rental Removed — APPFOLIO
• 2023-05-12 Contingent — MRED as Distributed by MLS Grid
• 2023-05-11 Listing Removed — MRED as Distributed by MLS Grid
• 2023-05-01 Listed — MRED as Distributed by MLS Grid
• 2023-03-16 Contingent — MRED as Distributed by MLS Grid
• 2023-03-14 Listing Removed — MRED as Distributed by MLS Grid
• 2023-03-08 Relisted — MRED as Distributed by MLS Grid
• 2023-02-16 Contingent — MRED as Distributed by MLS Grid
• 2023-02-10 Listed — MRED as Distributed by MLS Grid
• 2022-08-16 Sold (Public Records) $35,000 Public Records
• 2009-11-02 Sold (Public Records) $26,000 Public Records
• 2009-09-21 Pending — MRED as Distributed by MLS Grid
• 2009-08-20 Price Changed — MRED as Distributed by MLS Grid
• 2009-07-21 Price Changed — MRED as Distributed by MLS Grid
• 2009-06-23 Listed — MRED as Distributed by MLS Grid
• 1996-07-17 Sold (Public Records) $66,000 Public Records

Property tax history

+4.5%/yr

Latest (2023): $4,778 · +11.7% YoY. Source: county tax records.