249 Eddy St · Chicago Heights, IL 60411

$114,000

3 bd · 1.0 ba · 1,042 sqft · SingleFamily public records · 69 Days on market

Built 1960 Est $193k · 41% under

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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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Rent growth +4.1/5.0
• Livability +3.6/5.0
• Condition / age +2.5/5.0
• Schools +2.4/10.0
• Appreciation +0.0/10.0

Listing remarks

This charming 3 bedroom, 1 bath home is ideal for Buyers looking to add their personal touch, as it does need a little TLC. With its brick exterior and functional layout, it is a great canvas to bring your vision to life. Do not miss this opportunity to transform this home into something truly special! The full, unfinished basement provides ample storage and an excellent opportunity to expand your living space. Sold As Is. Do not wait! Make your offer today!

Key facts

• Brick exterior
• Expand living space
• Ample storage

Tags

• BRICK EXTERIOR
• FULL UNFINISHED BASEMENT
• AMPLE STORAGE
• EXPAND LIVING SPACE

Property features AI

Finance

• HOA & community: No master association fee required

Exterior

• Parking: Detached owned garage (1 garage space, 1 total parking space)
• Utilities: Public water; Public sewer
• Home design: Detached single-family home; One-story
• Construction: Brick construction; Built before 1978 (age ~61–70 years)
• Exterior features: Lot dimensions approximately 66 x 94 x 71 x 90; Lot less than 0.25 acre

Interior

• Kitchen: Kitchen on the main level
• Bedrooms: 3 bedrooms (all on the main level); Master bedroom on the main level
• Bathrooms: 1 full bathroom
• Heating & cooling: Natural gas forced air heating
• Interior features: 6 total rooms; Full, unfinished daylight basement
• Laundry & utility: Laundry room

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $114k.

Deal economics

• At list price, monthly cash flow is $747 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $114k).
• Recommended offer: $107k (6.0% below list) — sets the bar for market timing.
• Cap rate 14.2% 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.
• Homewood Flossmoor Chsd 233 (suburban): math 21% / reading 27% proficiency, ranked #272 of 620 in IL (top 44%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Homewood-Flossmoor High School (math 21% / reading 27%, grade F, #304 of 693 statewide, top 44%, 2,798 students, 0% FRL).
• Market conditions: Rents rising fast (+6.5%/yr); 222 active listings in the ZIP; 6,272 units permitted in Cook County in 2024 (4,658 in 5+ unit buildings).
• This rent runs 36% 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 $788 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 $32k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 69 days — a 6% lower offer ($107k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts; this cycle's ask has dropped $6k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $44k; list at $114k implies a 159% gain — meaningful room to come down on a strong offer.

Recommended offer $107,160 (6.0% below list)

Questions for the listing agent

1. It's been on market 69 days. Have you received any prior offers? Is the seller open to a 6% 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 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?
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: 1.64% ✓
• Cap rate: 14.16%
• Cash-on-cash: 28.08%
• DSCR: 2.25
• GRM: 5.1

CMA / ARV

• ARV (on-the-fly): $192,770
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
223 Lynn Ln	0.08mi	3/1.5	1,042 (0%)	2mo	$119,000	$114	92
273 Charles St	0.09mi	3/2.0	1,050 (+1%)	1mo	$210,000	$200	90
381 Iris Ln	0.12mi	4/2.0 (+1)	1,042 (0%)	9mo	$289,000	$277	78
234 Tahoe Dr	0.40mi	3/1.0	1,084 (+4%)	8mo	$200,000	$185	68
87 E Craig Dr	0.54mi	3/2.0	1,065 (+2%)	2mo	$175,000	$164	66
150 Serena Dr	0.52mi	3/2.0	1,065 (+2%)	10mo	$255,700	$240	60
151 N Normandy Dr	0.70mi	3/2.0	1,070 (+3%)	2mo	$217,999	$204	57
154 S Pamela Dr	0.74mi	3/1.5	1,065 (+2%)	4mo	$188,500	$177	57
126 N Floyd Ln	0.66mi	3/1.5	1,070 (+3%)	7mo	$210,000	$196	56
283 W Elmwood Dr	0.42mi	3/1.5	1,148 (+10%)	9mo	$210,000	$183	54
145 Sherry Ln	0.51mi	3/1.0	1,148 (+10%)	7mo	$130,750	$114	53
110 Judith Ln	0.60mi	3/2.0	1,171 (+12%)	7mo	$184,000	$157	42

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: 26.0%
• Equity multiple: 2.12×
• Total profit: $35,860
• Equity at exit: $16,998

10-year hold

• IRR: 35.7%
• Equity multiple: 4.83×
• Total profit: $122,280
• Equity at exit: $9,857

Cash invested: $31,920 (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: 222
• Price-to-rent: 5.1×

Monthly cashflow live

• Estimated rent: $1,867 medium
• Mortgage (P&I): −$598
• Tax from tax record: −$83 /mo · $995/yr
• Insurance: −$48
• HOA: −$0
• Vacancy / Maint / Mgmt: −$392
• Net cashflow: $747

Break-even live

Break-even rent $922

Max offer price $114,000

Occupancy floor 55%

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: $28,500
• Closing costs: $3,420
• Reserves months: —
• Total cash needed: —

Listing history 20 events

1. 2026-06-18
   status $114,000 Pending 69 DOM
2. 2026-06-18
   days on market $114,000 Active 69 DOM
3. 2026-06-17
   days on market $114,000 Active 68 DOM
4. 2026-06-16
   days on market $114,000 Active 67 DOM
5. 2026-06-15
   days on market $114,000 Active 66 DOM
6. 2026-06-13
   days on market $114,000 Active 64 DOM
7. 2026-06-09
   days on market $114,000 Active 60 DOM
8. 2026-06-08
   days on market $114,000 Active 59 DOM
9. 2026-06-07
   days on market $114,000 Active 58 DOM
10. 2026-06-04
    days on market $114,000 Active 55 DOM
11. 2026-06-03
    days on market $114,000 Active 54 DOM
12. 2026-06-02
    days on market $114,000 Active 53 DOM
13. 2026-06-01
    days on market $114,000 Active 52 DOM
14. 2026-05-31
    days on market $114,000 Active 51 DOM
15. 2026-05-13
    status Active
16. 2026-05-13
    status Pending
17. 2026-04-23
    status Active
18. 2026-04-21
    status Pending
19. 2026-04-08
    listed $120,000 Active
20. 1992-10-20
    soldstatus $44,000

ⓘ 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: $995 · $83/mo
• Projected year-2 tax: $1,791 · $149/mo
• Expected delta: +$796/yr (+$66/mo · 80.0%)

ⓘ 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 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,408
• − Mortgage interest: −$6,386
• − Property taxes: −$995
• − Insurance: −$570
• − Repairs & maintenance: −$1,793
• − Management: −$1,793
• − Depreciation: −$3,316
• Taxable income: $7,556
• Est. tax owed @ 24.0%: −$1,813
• After-tax cash flow: $7,150/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: Homewood Flossmoor Chsd 233
• NCES district ID: 1719560
• Math proficiency: 21% ▼ -15.00%
• Reading proficiency: 27% ▼ -13.00%
• Median HH income: $83,564
• Composite: 24.42/100
• National rank: #7681
• State rank: #272 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

+172.7% since first listed

6 events — show timeline

• 2026-05-13 Relisted — MRED as Distributed by MLS Grid
• 2026-05-13 Pending — MRED as Distributed by MLS Grid
• 2026-04-23 Relisted — MRED as Distributed by MLS Grid
• 2026-04-21 Pending — MRED as Distributed by MLS Grid
• 2026-04-08 Listed $120,000 MRED as Distributed by MLS Grid
• 1992-10-20 Sold (Public Records) $44,000 Public Records

Property tax history

-6.0%/yr

Latest (2023): $995 · -77.9% YoY. Source: county tax records.