2305 Holiday Ter #131 · Lansing, IL 60438

$99,000

2 bd · 1.0 ba · 842 sqft · Condo · 54 Days on market

Built 1966 $142/mo HOA · 10% of rent

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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 +21.7/30.0
• 1% rule +9.4/10.0
• ARV discount +7.5/15.0
• DSCR +6.9/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.0/10.0
• Appreciation +0.0/10.0

Listing remarks

Welcome home to this charming 2-bedroom condo located in vibrant Lansing. The unit features a comfortable living space, an eat-in kitchen with ample cabinetry, and two nicely sized bedrooms with beautiful flooring. Enjoy the ease of first floor living, assigned parking, and on-site laundry. Surrounded by neighborhood conveniences - shopping, schools, restaurants, and transmit are all just minutes away. Affordable, well-kept, and ready for you.

Key facts

• Schools in the area
• $142 HOA
• Parking

Tags

• SHOPPING CENTERS IN THE AREA
• SCHOOLS IN THE AREA

Property features AI

Finance

• Other: Part of a building with 36 units
• Financial info: Special Service Area not applicable
• HOA & community: Monthly association fee of $142; Association fee covers insurance, exterior maintenance, lawn care, trash collection, and snow removal; Pets are not allowed

Exterior

• Parking: One parking space
• Utilities: Public water; Public sewer
• Home design: Attached single condo; Entry level: 1; Condo ownership
• Construction: Brick construction; Built approximately 51–60 years ago; Built before 1978
• Exterior features: Lot dimensions per survey

Interior

• Kitchen: Kitchen on the main level (10 x 12)
• Bedrooms: Master bedroom on the main level (10 x 14); Additional bedroom on the main level (10 x 11); Two other bedrooms (additional bedroom types listed)
• Bathrooms: One full bathroom
• Heating & cooling: Electric heating; Window air conditioning units
• Interior features: Four total rooms
• Laundry & utility: Dedicated laundry room

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $99k.

Deal economics

• At list price, monthly cash flow is $152 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $99k).
• Recommended offer: $96k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.1% vs local median 5.8% in Lansing — 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 73/100 on livability (#296 in IL) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: schools D+, crime D+, health & safety D+.
• Thornton Fractional Twp Hsd 215 (suburban): math 9% / reading 13% proficiency, ranked #563 of 620 in IL (top 91%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 132 active listings in the ZIP; 14 comparable units currently listed for rent nearby; rentals at typical pace (median 17d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 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 $684 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 54 days — a 3% lower offer ($96k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 14y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $64k; list at $99k implies a 53% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 3.3% of price.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $96,030 (3.0% below list)

Questions for the listing agent

1. It's been on market 54 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1966 — 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. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. 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?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. Schools are D-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 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?
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: 1.44% ✓
• Cap rate: 8.13%
• Cash-on-cash: 6.56%
• DSCR: 1.29
• GRM: 5.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -6.0%
• Equity multiple: 0.78×
• Total profit: $-6,184
• Equity at exit: $14,761

10-year hold

• IRR: 3.9%
• Equity multiple: 1.28×
• Total profit: $7,867
• Equity at exit: $8,560

Cash invested: $27,720 (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 60438

• Active inventory: 132
• Price-to-rent: 5.8×

Monthly cashflow live

• Estimated rent: $1,428 high
• Mortgage (P&I): −$519
• Tax from tax record: −$274 /mo · $3,292/yr
• Insurance: −$41
• HOA: −$142
• Vacancy / Maint / Mgmt: −$300
• Net cashflow: $152

Break-even live

Break-even rent $1,236

Max offer price $99,000

Occupancy floor 84%

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: $24,750
• Closing costs: $2,970
• Reserves months: —
• Total cash needed: —

Rent comps 14 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
17640 Rosewood Dr Unit 2A Lansing, IL	2.0	1.0	950	$1,475	$1.55	17d	1	0.32mi
17754 Rosewood Dr Unit 1N Lansing, IL	2.0	1.0	850	$1,370	$1.61	24d	1	0.37mi
17723 Exchange Ave Unit 17723-1N Lansing, IL	3.0	2.0	1100	$1,800	$1.64	1d	1	0.59mi
2441 Indiana Ave Lansing, IL	1.0	1.0	600	$975	$1.62	3d	1	0.73mi
2441 Indiana Ave Unit 2N Lansing, IL	1.0	1.0	600	$975	$1.62	12d	1	0.73mi
3020 178th St Apt C7 Lansing, IL	2.0	1.0	900	$1,550	$1.72	24d	1	0.97mi
3020 178th St Unit C1 Lansing, IL	2.0	1.0	900	$1,550	$1.72	1d	1	0.97mi
3023 Bernice Rd Apt 2S Lansing, IL	3.0	1.0	1000	$1,600	$1.60	1d	1	0.98mi
18361 Glen Oak Ave Unit 1E Lansing, IL	2.0	1.0	900	$1,400	$1.56	24d	1	1.02mi
18381 Torrence Ave Lansing, IL	2.0	1.0	900	$1,300	$1.44	24d	1	1.03mi
3069 Bernice Rd Apt 2S Lansing, IL	3.0	1.0	950	$1,535	$1.62	2d	1	1.04mi
3069 Bernice Rd Apt 2N Lansing, IL	3.0	1.0	950	$1,535	$1.62	20d	1	1.04mi
18440 Torrence Ave Lansing, IL	2.0	1.0	800	$1,200	$1.50	24d	1	1.13mi
18550 Torrence Ave #25 Lansing, IL	2.0	1.0	1000	$1,300	$1.30	11d	1	1.24mi

HOA detail condo

• Monthly dues: $142 · $1,704/yr
• Likely covers: parking
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 26 events

1. 2026-06-17
   status $99,000 Pending 54 DOM
2. 2026-06-17
   days on market $99,000 Active 54 DOM
3. 2026-06-16
   days on market $99,000 Active 53 DOM
4. 2026-06-15
   days on market $99,000 Active 52 DOM
5. 2026-06-13
   days on market $99,000 Active 50 DOM
6. 2026-06-09
   days on market $99,000 Active 46 DOM
7. 2026-06-08
   days on market $99,000 Active 45 DOM
8. 2026-06-07
   days on market $99,000 Active 44 DOM
9. 2026-06-04
   days on market $99,000 Active 41 DOM
10. 2026-06-03
    days on market $99,000 Active 40 DOM
11. 2026-06-02
    days on market $99,000 Active 39 DOM
12. 2026-06-01
    days on market $99,000 Active 38 DOM
13. 2026-05-31
    days on market $99,000 Active 37 DOM
14. 2026-04-24
    listed $99,000 Active
15. 2014-12-31
    historical
16. 2014-02-21
    historical
17. 2013-12-19
    status Reactivated
18. 2013-06-25
    historical Contingent
19. 2013-02-02
    status Back On Market
20. 2013-02-02
    price Price Change
21. 2012-09-26
    price Reactivated
22. 2012-09-26
    status Reactivated
23. 2012-04-20
    historical Contingent
24. 2012-02-21
    listed New
25. 2004-08-31
    soldstatus $64,500
26. 1986-01-01
    soldstatus $45,000

ⓘ 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: $3,292 · $274/mo
• Projected year-2 tax: $3,292 · $274/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 6/10 Major FEMA zone X (unshaded) · 73% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥103°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: $17,140
• − Mortgage interest: −$5,546
• − Property taxes: −$3,292
• − Insurance: −$495
• − Repairs & maintenance: −$1,371
• − Management: −$1,371
• − HOA: −$1,704
• − Depreciation: −$2,880
• Taxable income: $481
• Est. tax owed @ 24.0%: −$115
• After-tax cash flow: $1,704/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 Fractional Twp Hsd 215
• NCES district ID: 1738940
• Math proficiency: 9% ▼ -3.00%
• Reading proficiency: 13% ▼ -3.00%
• Median HH income: $48,207
• Composite: 10.27/100
• National rank: #9793
• State rank: #563 of 620 in IL

Livability — Lansing

• Score: 73/100
• State rank: #296
• US rank: #5698

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lansing, IL
• County: Cook County · 4,486,803 people
• City population: 28,806
• Metro: Chicago-Naperville-Elgin, IL-IN-WI
• Population (ZIP): 28,806
• Household income: $75,681
• Rent vs Own: 27.7% rent · 72.3% own
• Severe rent burden: 830.0

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 0.65)
• Race & ethnicity: Black 51% White 25% Hispanic / Latino 18% Two or more races 7% Asian 2%
• Hispanic origin (detail): Mexican 15%
• Common ancestry: Romanian 5% Iranian 3% Lithuanian 1%
• Foreign-born: 10% · Canada
• Languages at home: 83% English-only · Spanish 12% Vietnamese 1% French/Haitian/Cajun 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: ▼ -151.65%
• Current HPI: 210.3398
• Rent YoY: —
• 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

+120.0% since first listed

13 events — show timeline

• 2026-04-24 Listed $99,000 MRED as Distributed by MLS Grid
• 2014-12-31 Listing Removed — MRED as Distributed by MLS Grid
• 2014-02-21 Listing Removed — MRED as Distributed by MLS Grid
• 2013-12-19 Relisted — MRED as Distributed by MLS Grid
• 2013-06-25 Contingent — MRED as Distributed by MLS Grid
• 2013-02-02 Relisted — MRED as Distributed by MLS Grid
• 2013-02-02 Price Changed — MRED as Distributed by MLS Grid
• 2012-09-26 Relisted — MRED as Distributed by MLS Grid
• 2012-09-26 Price Changed — MRED as Distributed by MLS Grid
• 2012-04-20 Contingent — MRED as Distributed by MLS Grid
• 2012-02-21 Listed — MRED as Distributed by MLS Grid
• 2004-08-31 Sold (Public Records) $64,500 Public Records
• 1986-01-01 Sold (Public Records) $45,000 Public Records

Property tax history

+7.5%/yr

Latest (2023): $3,292 · +39.9% YoY. Source: county tax records.