1406 E 15th Pl · Ford Heights, IL 60411

$100,000

3 bd · 1.0 ba · 1,440 sqft · SingleFamily public records · 275 Days on market

Built 1963 ↓ 30% since listing

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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 +4.1/5.0
• Livability +3.2/5.0
• Condition / age +2.5/5.0
• Schools +0.7/10.0
• Appreciation +0.0/10.0

Listing remarks

Bring your vision to this spacious 4-bedroom, 1-bath home. With plenty of room compared to many homes in the area, this property is full of potential for the right buyer. Conveniently located near expressways and bus stops, it offers easy access for commuters and tenants alike. Whether you're an investor looking for your next project or a buyer ready to make it your own, this home is a great opportunity to create something special. Come see the possibilities!

Key facts

• 2 parking spots
• Built 1963
• Listed 274 days

Property features AI

Finance

• Other: Parcel number: 32234170160000
• HOA & community: No master association fee required

Exterior

• Parking: Two parking spaces (total)
• Utilities: Water source: Lake Michigan; Public sewer
• Home design: Detached single-family home; One-story; Fee simple ownership; Built before 1978
• Construction: Vinyl siding; Assessor-listed living area; House is 61–70 years old
• Exterior features: Lot under 0.25 acre; Lot dimensions: 6500

Interior

• Kitchen: Kitchen on the main level (approx. 12 x 5)
• Bedrooms: Four bedrooms (all on the main level); Master bedroom on the main level, approximately 15 x 15; Bedroom — 12 x 9 (main level); Bedroom — 10 x 9 (main level); Bedroom — 9 x 9 (main level)
• Bathrooms: One full bathroom
• Heating & cooling: Natural gas heating; Wall air conditioning units
• Interior features: Seven total rooms
• Laundry & utility: Main-level laundry room (approx. 8 x 6)

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $100k.

Deal economics

• At list price, monthly cash flow is $511 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $100k).
• Recommended offer: $88k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 64/100 on livability (#685 in IL) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, crime A-; Watch: schools F, amenities F, employment 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.
• Market conditions: Rents rising fast (+6.5%/yr); 224 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 3d on market — plan ~1-2 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 ($62k/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 $691 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 6.5% rent growth), your $28k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 275 days — a 12% lower offer ($88k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $50k (33%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: property tax is 3.4% of price.
• Climate carrying-cost: moderate flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $88,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 275 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 1963 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
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: 1.73% ✓
• Cap rate: 12.42%
• Cash-on-cash: 21.88%
• DSCR: 1.97
• GRM: 4.8

CMA / ARV

• ARV (on-the-fly): $231,840
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1415 E 15th Pl	0.05mi	3/2.0	1,267 (-12%)	10mo	$95,000	$75	65
1618 Constance Ave	0.75mi	3/1.0	1,326 (-8%)	0mo	$213,000	$161	52

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 · 6.48% rent growth · sell at horizon

5-year hold

• IRR: 19.0%
• Equity multiple: 1.81×
• Total profit: $22,695
• Equity at exit: $14,910

10-year hold

• IRR: 30.0%
• Equity multiple: 4.20×
• Total profit: $89,715
• Equity at exit: $8,646

Cash invested: $28,000 (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: 4.8×

Monthly cashflow live

• Estimated rent: $1,726 medium
• Mortgage (P&I): −$524
• Tax from tax record: −$287 /mo · $3,441/yr
• Insurance: −$42
• HOA: −$0
• Vacancy / Maint / Mgmt: −$362
• Net cashflow: $511

Break-even live

Break-even rent $1,080

Max offer price $100,000

Occupancy floor 65%

Sensitivity live

Price	-10% $567	-5% $539	+0% $511	+5% $482	+10% $454
Rent	-10% $374	-5% $442	+0% $511	+5% $579	+10% $647
Rate	-1.0pp $561	-0.5pp $536	base $511	+0.5pp $485	+1.0pp $458

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: $25,000
• Closing costs: $3,000
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
21538 Gailine Ave Chicago Heights, IL	3.0	1.0	1031	$1,600	$1.55	4d	1	1.01mi
2241 Astor St Unit Labs Sauk Village, IL	2.0	2.0	1000	$1,650	$1.65	3d	1	1.22mi
1154 Barry Ln Sauk Village, IL	2.0	2.0	960	$1,550	$1.61	0d	1	1.30mi

Listing history 23 events

1. 2026-06-21
   days on market $100,000 Active 275 DOM
2. 2026-06-18
   days on market $100,000 Active 272 DOM
3. 2026-06-17
   days on market $100,000 Active 271 DOM
4. 2026-06-16
   days on market $100,000 Active 270 DOM
5. 2026-06-15
   days on market $100,000 Active 269 DOM
6. 2026-06-13
   days on market $100,000 Active 267 DOM
7. 2026-06-13
   days on market $100,000 Active 266 DOM
8. 2026-06-09
   days on market $100,000 Active 263 DOM
9. 2026-06-08
   days on market $100,000 Active 262 DOM
10. 2026-06-07
    days on market $100,000 Active 261 DOM
11. 2026-06-04
    days on market $100,000 Active 258 DOM
12. 2026-06-03
    days on market $100,000 Active 257 DOM
13. 2026-06-02
    days on market $100,000 Active 256 DOM
14. 2026-06-01
    days on market $100,000 Active 255 DOM
15. 2026-05-31
    days on market $100,000 Active 254 DOM
16. 2026-04-20
    price $105,000
17. 2026-01-21
    price $110,000
18. 2026-01-20
    status Active
19. 2026-01-19
    historical
20. 2025-12-15
    price $120,000
21. 2025-10-30
    price $130,000
22. 2025-10-08
    price $140,000
23. 2025-09-18
    listed $150,000 Active

ⓘ 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: $3,441 · $287/mo
• Projected year-2 tax: $3,441 · $287/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) · 45% 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 0% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,711
• − Mortgage interest: −$5,602
• − Property taxes: −$3,441
• − Insurance: −$500
• − Repairs & maintenance: −$1,657
• − Management: −$1,657
• − Depreciation: −$2,909
• Taxable income: $4,945
• Est. tax owed @ 24.0%: −$1,187
• After-tax cash flow: $4,940/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 — Ford Heights

• Score: 64/100
• State rank: #685
• US rank: #13999

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Ford Heights, IL
• County: Cook County · 4,486,803 people
• City population: 52,395
• 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

-30.0% since first listed

8 events — show timeline

• 2026-04-20 Price Changed $105,000 MRED as Distributed by MLS Grid
• 2026-01-21 Price Changed $110,000 MRED as Distributed by MLS Grid
• 2026-01-20 Relisted — MRED as Distributed by MLS Grid
• 2026-01-19 Listing Removed — MRED as Distributed by MLS Grid
• 2025-12-15 Price Changed $120,000 MRED as Distributed by MLS Grid
• 2025-10-30 Price Changed $130,000 MRED as Distributed by MLS Grid
• 2025-10-08 Price Changed $140,000 MRED as Distributed by MLS Grid
• 2025-09-18 Listed $150,000 MRED as Distributed by MLS Grid

Property tax history

+26.7%/yr

Latest (2023): $3,441 · +50.0% YoY. Source: county tax records.