2052 135th Pl · Blue Island, IL 60406

$460,000

12 bd · 6.0 ba · 5,284 sqft · MultiFamily public records · 630 Days on market

Built 1966 Est $481k · at est.

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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 +23.3/30.0
• ARV discount +9.5/15.0
• 1% rule +8.6/10.0
• DSCR +7.5/10.0
• Livability +3.9/5.0
• Rent growth +2.5/5.0
• 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 (5+ Unit). Listing-text estimate: 4 units. 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.

Listing remarks MLS

*highest and best deadline Noon 1/31/2014*Brick 6-flat with 5-2 bedroom 1 bath units and 1-1 bedroom 1 bath unit. Washer and dryer in basement. Ample parking. Near transportation, shopping and schools. SOLD "AS IS" CONDITION. NO SURVEY/DISCLOSURES. PROOF OF FUND/ PRE-APPROVAL MUST ACCOMPANY ALL OFFERS. ADDENDUM REQUIRED AFTER ACCEPTANCE. EM MUST BE CERT FUNDS. ROOMS, LOT SZE/DETAILS NOT GRNTD.

Key facts

• Built 1966
• Listed 630 days

Property features AI

Finance

• Other: Listed by Realty One Group Heartland
• Financial info: Total of 6 rental units generating reported gross income of $66,240 per year; Reported total monthly income: $5,520; Gross rent multiplier (GRM): 7.8; Reported annual property tax (for reference): $17,746; Reported annual water/sewer expense: $3,753; electric: $964; trash: $1,847

Exterior

• Parking: Common public parking lot providing roughly 6–12 spaces
• Utilities: Water and sewer service (owner expense reported); Electric service (owner expense reported); Trash service (owner expense reported)
• Home design: Multi-family building (5+ units); Built before 1978
• Construction: Brick exterior; Parcel and lot dimensions recorded (lot area: 4,843 sq ft)
• Exterior features: Public/common parking lot with approximately 6–12 spaces; Zoned for multi-family use

Interior

• Kitchen: Individual kitchens in each unit (standard tenant kitchens)
• Bedrooms: Five units total: five 2-bedroom units and one 1-bedroom unit
• Flooring: Original-era finishes likely (built before 1978)
• Bathrooms: Each unit includes one full bathroom
• Heating & cooling: Gas heating/ventilation
• Interior features: Brick construction details visible throughout (brick exterior/integration)
• Laundry & utility: On-site utility service (water/sewer/electric billed as property expenses)

What this means for you Summary

Snapshot

• This is a 4 × 3-bed/1.5-bath units multifamily listed at $460k.

Deal economics

• At list price, monthly cash flow is $843 ($10k/yr) — positive. Per door: $211/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($6k rent vs $460k).
• Recommended offer: $405k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.5% vs local median 6.5% in Blue Island — 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 77/100 on livability (#159 in IL, #2,964 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: employment C-, 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: 43 active listings in the ZIP; 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 $3k of loan paydown is wiped out by about $14k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 630 days — a 12% lower offer ($405k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 20y ago; this cycle's ask has dropped $60k (12%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $85k; list at $460k implies a 441% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 3.9% of price.
• Climate carrying-cost: moderate flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $404,800 (12.0% below list)

Questions for the listing agent

1. It's been on market 630 days. Have you received any prior offers? Is the seller open to a 12% 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 1966 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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?
10. 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.
11. 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.
12. 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: 1.36% ✓
• Cap rate: 8.49%
• Cash-on-cash: 7.85%
• DSCR: 1.35
• GRM: 6.1

CMA / ARV

• ARV (on-the-fly): $480,844
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2122 135th Pl	0.11mi	11/6.0 (-1)	4,963 (-6%)	17mo	$450,000	$91	66
2123 135th Pl	0.11mi	11/10.0 (-1)	4,963 (-6%)	5mo	$450,000	$91	61

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: -4.2%
• Equity multiple: 0.84×
• Total profit: $-20,213
• Equity at exit: $68,587

10-year hold

• IRR: 5.6%
• Equity multiple: 1.42×
• Total profit: $54,157
• Equity at exit: $39,772

Cash invested: $128,800 (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 60406

• Home prices YoY: -26.8%
• Active inventory: 43
• Price-to-rent: 24.6×

Monthly cashflow live

• Estimated rent: $6,235 high
• Mortgage (P&I): −$2,412
• Tax from tax record: −$1,479 /mo · $17,747/yr
• Insurance: −$192
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,309
• Net cashflow: $843

Break-even live

Break-even rent $5,168

Max offer price $460,000

Occupancy floor 81%

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

Units	Beds	Baths	Est. rent
▸ 4× units	3	1.5	$6,236
Total (4 units)			$6,235

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: $115,000
• Closing costs: $13,800
• Reserves months: —
• Total cash needed: —

Listing history 25 events

1. 2026-06-15
   status $460,000 Pending 630 DOM
2. 2026-06-15
   days on market $460,000 Contingent - Continue to Show 630 DOM
3. 2026-06-13
   days on market $460,000 Contingent - Continue to Show 628 DOM
4. 2026-06-13
   days on market $460,000 Contingent - Continue to Show 627 DOM
5. 2026-06-09
   days on market $460,000 Contingent - Continue to Show 624 DOM
6. 2026-06-08
   days on market $460,000 Contingent - Continue to Show 623 DOM
7. 2026-06-07
   days on market $460,000 Contingent - Continue to Show 622 DOM
8. 2026-06-04
   days on market $460,000 Contingent - Continue to Show 619 DOM
9. 2026-06-03
   days on market $460,000 Contingent - Continue to Show 618 DOM
10. 2026-06-02
    days on market $460,000 Contingent - Continue to Show 617 DOM
11. 2026-06-01
    days on market $460,000 Contingent - Continue to Show 616 DOM
12. 2026-05-31
    days on market $460,000 Contingent - Continue to Show 615 DOM
13. 2026-02-27
    historical Contingent - Continue to Show
14. 2025-01-30
    price $460,000
15. 2024-12-26
    price $499,000
16. 2024-09-22
    listed $520,000 Active
17. 2014-04-04
    soldstatus $85,000 Closed Sale 408-char remark

    Show marketing remark (408 chars)

    *highest and best deadline Noon 1/31/2014*Brick 6-flat with 5-2 bedroom 1 bath units and 1-1 bedroom 1 bath unit. Washer and dryer in basement. Ample parking. Near transportation, shopping and schools. SOLD "AS IS" CONDITION. NO SURVEY/DISCLOSURES. PROOF OF FUND/ PRE-APPROVAL MUST ACCOMPANY ALL OFFERS. ADDENDUM REQUIRED AFTER ACCEPTANCE. EM MUST BE CERT FUNDS. ROOMS, LOT SZE/DETAILS NOT GRNTD.

18. 2014-02-25
    status Pending 408-char remark

    Show marketing remark (408 chars)

    *highest and best deadline Noon 1/31/2014*Brick 6-flat with 5-2 bedroom 1 bath units and 1-1 bedroom 1 bath unit. Washer and dryer in basement. Ample parking. Near transportation, shopping and schools. SOLD "AS IS" CONDITION. NO SURVEY/DISCLOSURES. PROOF OF FUND/ PRE-APPROVAL MUST ACCOMPANY ALL OFFERS. ADDENDUM REQUIRED AFTER ACCEPTANCE. EM MUST BE CERT FUNDS. ROOMS, LOT SZE/DETAILS NOT GRNTD.

19. 2014-01-27
    price $76,000 Price Change 408-char remark

    Show marketing remark (408 chars)

    *highest and best deadline Noon 1/31/2014*Brick 6-flat with 5-2 bedroom 1 bath units and 1-1 bedroom 1 bath unit. Washer and dryer in basement. Ample parking. Near transportation, shopping and schools. SOLD "AS IS" CONDITION. NO SURVEY/DISCLOSURES. PROOF OF FUND/ PRE-APPROVAL MUST ACCOMPANY ALL OFFERS. ADDENDUM REQUIRED AFTER ACCEPTANCE. EM MUST BE CERT FUNDS. ROOMS, LOT SZE/DETAILS NOT GRNTD.

20. 2013-11-14
    listed $95,000 New 408-char remark

    Show marketing remark (408 chars)

    *highest and best deadline Noon 1/31/2014*Brick 6-flat with 5-2 bedroom 1 bath units and 1-1 bedroom 1 bath unit. Washer and dryer in basement. Ample parking. Near transportation, shopping and schools. SOLD "AS IS" CONDITION. NO SURVEY/DISCLOSURES. PROOF OF FUND/ PRE-APPROVAL MUST ACCOMPANY ALL OFFERS. ADDENDUM REQUIRED AFTER ACCEPTANCE. EM MUST BE CERT FUNDS. ROOMS, LOT SZE/DETAILS NOT GRNTD.

21. 2007-01-24
    historical
22. 2006-08-29
    listed
23. 2005-12-15
    soldstatus $220,000
24. 1996-03-14
    soldstatus $225,000
25. 1990-12-11
    soldstatus $91,800

ⓘ 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: $17,747 · $1,479/mo
• Projected year-2 tax: $17,747 · $1,479/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 5/10 Major FEMA zone X (unshaded) · 24% 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: $74,820
• − Mortgage interest: −$25,767
• − Property taxes: −$17,747
• − Insurance: −$2,300
• − Repairs & maintenance: −$5,986
• − Management: −$5,986
• − Depreciation: −$13,382
• Taxable income: $3,653
• Est. tax owed @ 24.0%: −$877
• After-tax cash flow: $9,237/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 — Blue Island

• Score: 77/100
• State rank: #159
• US rank: #2964

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Blue Island, IL
• City population: 24,887
• Population (ZIP): 24,887

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 44% Black 34% White 19% Two or more races 8%
• Hispanic origin (detail): Mexican 39%
• Common ancestry: Romanian 2% English 1% Iranian 1%
• Foreign-born: 19% · Canada
• Languages at home: 65% English-only · Spanish 33% 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: ▼ -94.77%
• Current HPI: 259.492
• 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

+401.1% since first listed

13 events — show timeline

• 2026-02-27 Contingent — MRED as Distributed by MLS Grid
• 2025-01-30 Price Changed $460,000 MRED as Distributed by MLS Grid
• 2024-12-26 Price Changed $499,000 MRED as Distributed by MLS Grid
• 2024-09-22 Listed $520,000 MRED as Distributed by MLS Grid
• 2014-04-04 Sold (MLS) $85,000 MRED as Distributed by MLS Grid
• 2014-02-25 Pending — MRED as Distributed by MLS Grid
• 2014-01-27 Price Changed $76,000 MRED as Distributed by MLS Grid
• 2013-11-14 Listed $95,000 MRED as Distributed by MLS Grid
• 2007-01-24 Listing Removed — MRED as Distributed by MLS Grid
• 2006-08-29 Listed — MRED as Distributed by MLS Grid
• 2005-12-15 Sold (Public Records) $220,000 Public Records
• 1996-03-14 Sold (Public Records) $225,000 Public Records
• 1990-12-11 Sold (Public Records) $91,800 Public Records

Property tax history

+2.9%/yr

Latest (2023): $17,747 · +5.5% YoY. Source: county tax records.