15335 Martin Luther King Jr Dr #21 · Dolton, IL 60419

$89,900

2 bd · 1.0 ba · 939 sqft · Condo · 5 Days on market

Built 1980 $200/mo HOA · 13% of rent

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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
• ARV discount +7.5/15.0
• Rent growth +4.9/5.0
• Livability +3.7/5.0
• Condition / age +2.5/5.0
• Schools +0.7/10.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to this spacious end unit condo located in the heart of Dolton. The inviting entry opens to a bright, open concept living and dining area featuring brand new carpet throughout the entire home. The updated kitchen offers generous cabinet storage, a large window that brings in natural light, and modern appliances, making meal prep a breeze. At the end of the day, unwind in the comfortable primary bedroom complete with a large closet. A second spacious bedroom and a full bath provide flexibility for guests or a home office. Step outside to the private third floor balcony and take in the expansive views, perfect for relaxing or enjoying your morning coffee. This home is ideally situated

Key facts

• Expansive views
• Open concept living
• Updated kitchen

Tags

• END UNIT CONDO
• OPEN CONCEPT LIVING
• UPDATED KITCHEN
• LARGE WINDOW
• PRIVATE THIRD FLOOR BALCONY
• EXPANSIVE VIEWS

Property features AI

Finance

• Other: Living area listed as approximately 939 total sq ft (estimated)
• Financial info: Special service area: No; Homeowner tax exemption
• HOA & community: Monthly association fee of $200 (includes water); Manager off-site; Pets allowed (cats and dogs permitted, max pet weight 99 lbs)

Exterior

• Parking: Assigned off-street parking (asphalt); Off-alley parking; Guest parking; Owned parking, 1 space total
• Utilities: Public water; Public sewer; Electric with circuit breakers
• Home design: Attached single condo (end unit); Entry level: 3; End unit; Condo ownership; Rehab completed in 2016
• Construction: Brick construction; Asphalt roof; Building approximately 41–50 years old; Building contains 21 units
• Exterior features: Balcony; Common lot/dimensions

Interior

• Kitchen: Updated kitchen on main level (approx. 9 x 8); Range; Microwave; Dishwasher; Refrigerator
• Bedrooms: Master bedroom on main level (approx. 15 x 12) with carpet; Second bedroom on main level (approx. 12 x 10) with carpet; Two additional bedrooms listed (no details provided)
• Flooring: Carpet in living areas and most bedrooms; Wood laminate in kitchen
• Bathrooms: 1 full bathroom
• Heating & cooling: Electric heating; Central air conditioning
• Interior features: 5 total rooms; Interstate access
• Laundry & utility: Laundry room; Ceiling fan(s)

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $90k.

Deal economics

• At list price, monthly cash flow is $382 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $90k).
• Cap rate 11.4% vs local median 9.3% in Dolton — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

Location & tenants

• Location reads 74/100 on livability (#263 in IL, #4,883 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: employment C-, health & safety C-, crime D-.
• 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.
• Zoned schools: Thornridge High School (math 8% / reading 8%, grade F, #589 of 693 statewide, top 86%, 1,057 students, 0% FRL).
• Market conditions: Rents rising fast (+9.7%/yr); 129 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); 6,272 units permitted in Cook County in 2024 (4,658 in 5+ unit buildings).
• This rent runs 33% of the median local income ($58k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $622 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $25k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts; this cycle's ask has dropped $5k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $60k; 50% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $89,900

Questions for the listing agent

1. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
2. 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?
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 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?
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: 1.76% ✓
• Cap rate: 11.39%
• Cash-on-cash: 18.19%
• DSCR: 1.81
• GRM: 4.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 16.7%
• Equity multiple: 1.73×
• Total profit: $18,284
• Equity at exit: $13,404

10-year hold

• IRR: 29.4%
• Equity multiple: 4.42×
• Total profit: $86,047
• Equity at exit: $7,773

Cash invested: $25,172 (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 60419

• Home prices YoY: -25.7%
• Rents YoY: 9.7%
• Active inventory: 129
• Price-to-rent: 4.7×

Monthly cashflow live

• Estimated rent: $1,585 high
• Mortgage (P&I): −$471
• Tax from tax record: −$161 /mo · $1,937/yr
• Insurance: −$37
• HOA: −$200
• Vacancy / Maint / Mgmt: −$333
• Net cashflow: $382

Break-even live

Break-even rent $1,102

Max offer price $89,900

Occupancy floor 71%

Sensitivity live

Price	-10% $432	-5% $407	+0% $382	+5% $356	+10% $331
Rent	-10% $256	-5% $319	+0% $382	+5% $444	+10% $507
Rate	-1.0pp $427	-0.5pp $404	base $382	+0.5pp $358	+1.0pp $335

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: $22,475
• Closing costs: $2,697
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
15324 Doctor Martin Luther King Junior Dr Unit 1B Dolton, IL	1.0	1.0	725	$985	$1.36	19d	1	0.04mi
15238 Doctor Martin Luther King Junior Dr Unit 2W Dolton, IL	2.0	1.0	800	$1,500	$1.88	11d	1	0.12mi
14817 Champlain Ave Dolton, IL	2.0	1.0	980	$2,430	$2.48	23d	1	0.72mi
14502 Cottage Grove Ave Unit 1S Dolton, IL	1.0	1.0	900	$1,425	$1.58	8d	1	1.19mi
14500 Cottage Grove Ave Unit 3 Dolton, IL	2.0	1.0	1000	$1,475	$1.48	25d	1	1.20mi
1450 E 154th Pl Dolton, IL	1.0	1.0	800	$1,250	$1.56	25d	1	1.30mi
14305 Irving Ave Unit 2 Dolton, IL	3.0	1.0	1100	$2,200	$2.00	25d	1	1.33mi

HOA detail condo

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

Listing history 20 events

1. 2026-06-21
   days on market $89,900 Active 5 DOM
2. 2026-06-18
   days on market $89,900 Active 2 DOM
3. 2026-06-16
   statusdays on marketlisting id $89,900 Active 1 DOM
4. 2026-06-13
   statusdays on market $89,900 Pending 8 DOM
5. 2026-06-09
   days on market $89,900 Active 5 DOM
6. 2026-06-08
   days on market $89,900 Active 4 DOM
7. 2026-06-07
   pricedays on marketlisting id $89,900 Active 3 DOM
8. 2026-06-04
   days on market $95,000 Active 22 DOM
9. 2026-06-03
   days on market $95,000 Active 21 DOM
10. 2026-06-02
    days on market $95,000 Active 20 DOM
11. 2026-06-01
    days on market $95,000 Active 19 DOM
12. 2026-05-31
    days on market $95,000 Active 18 DOM
13. 2026-05-13
    listed $95,000 Active
14. 2026-05-13
    historical
15. 2026-04-30
    listed Active
16. 2026-04-09
    historical
17. 2002-02-13
    soldstatus $60,000
18. 1996-11-22
    soldstatus $53,000
19. 1994-12-21
    soldstatus $49,000
20. 1994-12-21
    soldstatus $49,000

ⓘ 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: $1,937 · $161/mo
• Projected year-2 tax: $1,989 · $166/mo
• Expected delta: +$52/yr (+$4/mo · 2.7%)

ⓘ 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 · 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: $19,015
• − Mortgage interest: −$5,036
• − Property taxes: −$1,937
• − Insurance: −$450
• − Repairs & maintenance: −$1,521
• − Management: −$1,521
• − HOA: −$2,400
• − Depreciation: −$2,615
• Taxable income: $3,536
• Est. tax owed @ 24.0%: −$849
• After-tax cash flow: $3,730/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 — Dolton

• Score: 74/100
• State rank: #263
• US rank: #4883

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Dolton, IL
• County: Cook County · 4,486,803 people
• City population: 20,825
• Metro: Chicago-Naperville-Elgin, IL-IN-WI
• Population (ZIP): 20,825
• Household income: $57,887
• Rent vs Own: 27.4% rent · 72.6% own
• Severe rent burden: 919.0

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: Predominantly Black (91%)
• Race & ethnicity: Black 91% White 4% Two or more races 3% Hispanic / Latino 1%
• Common ancestry: Romanian 1% Hispanic 1%
• Foreign-born: 3% · Canada
• Languages at home: 95% English-only · French/Haitian/Cajun 2% Spanish 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: ▼ -66.88%
• Current HPI: 193.2346
• Rent YoY: ▲ 9.65%
• 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

+93.9% since first listed

8 events — show timeline

• 2026-05-13 Listing Removed — MRED as Distributed by MLS Grid
• 2026-05-13 Listed $95,000 MRED as Distributed by MLS Grid
• 2026-04-30 Listed — MRED as Distributed by MLS Grid
• 2026-04-09 Listing Removed — MRED as Distributed by MLS Grid
• 2002-02-13 Sold (Public Records) $60,000 Public Records
• 1996-11-22 Sold (Public Records) $53,000 Public Records
• 1994-12-21 Sold (Public Records) $49,000 Public Records
• 1994-12-21 Sold (Public Records) $49,000 Public Records

Property tax history

+1.5%/yr

Latest (2023): $1,937 · +315.2% YoY. Source: county tax records.