18309 Bock Rd · Lansing, IL 60438

$195,000

3 bd · 2.5 ba · 1,537 sqft · SingleFamily public records · 127 Days on market

Built 1973 7,492 sqft lot Est $241k · 19% under ↓ 24% 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 +25.8/30.0
• ARV discount +15.0/15.0
• DSCR +8.6/10.0
• 1% rule +6.8/10.0
• 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 to this 2-story home featuring 3 spacious bedrooms and 2.5 baths. The main level offers a comfortable living space perfect for both everyday living and entertaining. The unfinished basement provides plenty of storage or the opportunity to create additional living space. Step outside to enjoy a fully fenced yard, ideal for gatherings, pets, or play. A 2-car garage adds convenience and value. With great potential and plenty of room to grow, this home is ready for your personal touch.

Key facts

• Unfinished basement
• 2 car garage
• Fully fenced yard

Tags

• UNFINISHED BASEMENT
• FULLY FENCED YARD
• 2 CAR GARAGE

Property features AI

Finance

• Other: Fee simple ownership; School bus service available; Property not currently leased; Possession at closing or immediate
• HOA & community: No master association fee required

Exterior

• Parking: Detached garage (owned) with concrete driveway — 2 garage spaces, 2 total parking spaces
• Utilities: Public water; Public sewer
• Home design: Detached single-family home; Two-story
• Construction: Built roughly 51–60 years ago; Brick and frame construction; Asphalt roof; Built before 1978
• Exterior features: Patio; Fenced yard; Lot dimensions approximately 62 x 120 (less than 0.25 acre)

Interior

• Kitchen: Kitchen on main level; Ceramic tile flooring in kitchen
• Bedrooms: Three bedrooms (all on second level)
• Flooring: Hardwood flooring in bedrooms and dining room; Carpet in family room and living room; Ceramic tile in kitchen
• Bathrooms: Two full bathrooms and one half bathroom; Basement includes a bathroom
• Heating & cooling: Natural gas forced air heating; Central air conditioning; One fireplace (family room) — wood burning with gas starter
• Interior features: Seven total rooms; Partially finished full basement; Separate dining room
• Laundry & utility: Basement laundry room with sink (20 x 20)

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath single-family listed at $195k.

Deal economics

• At list price, monthly cash flow is $475 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $195k).
• Recommended offer: $172k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.2% 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; 4 comparable units currently listed for rent nearby; rentals leasing fast (median 3d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 6,272 units permitted in Cook County in 2024 (4,658 in 5+ unit buildings).
• This rent runs 37% of the median local income ($76k/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 $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 127 days — a 12% lower offer ($172k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 21y ago; this cycle's ask has dropped $30k (13%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $171,600 (12.0% below list)

Questions for the listing agent

1. It's been on market 127 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 1973 — 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 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?
6. 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?
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: 1.18% ✓
• Cap rate: 9.21%
• Cash-on-cash: 10.43%
• DSCR: 1.46
• GRM: 7.0

CMA / ARV

• ARV (on-the-fly): $241,309
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
18214 Locust St	0.10mi	3/2.0	1,664 (+8%)	7mo	$262,000	$157	74
18202 Locust St	0.12mi	3/1.5	1,366 (-11%)	7mo	$185,000	$135	66
17830 Clyde Ave	0.38mi	3/1.5	1,568 (+2%)	14mo	$235,000	$150	64
2444 187th St	0.63mi	3/2.0	1,514 (-2%)	4mo	$205,000	$135	63
2643 Ridge Rd	0.64mi	3/2.0	1,502 (-2%)	2mo	$234,000	$156	63
18062 Exchange Ave	0.70mi	4/2.0 (+1)	1,573 (+2%)	2mo	$197,000	$125	55
18502 Oak Ave	0.53mi	3/2.0	1,682 (+9%)	13mo	$245,000	$146	47
18518 Glen Oak Ave	0.44mi	4/2.0 (+1)	1,338 (-13%)	6mo	$257,000	$192	46
18429 Arcadia Ave	0.46mi	4/2.0 (+1)	1,350 (-12%)	6mo	$265,000	$196	46
1951 185th St	0.36mi	3/2.0	1,319 (-14%)	14mo	$255,000	$193	46
2621 Ridge Rd	0.59mi	4/2.0 (+1)	1,323 (-14%)	2mo	$216,000	$163	41
2730 Ridge Rd	0.74mi	4/3.0 (+1)	1,390 (-10%)	12mo	$260,000	$187	32

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: -0.6%
• Equity multiple: 0.98×
• Total profit: $-1,326
• Equity at exit: $29,075

10-year hold

• IRR: 9.0%
• Equity multiple: 1.69×
• Total profit: $37,922
• Equity at exit: $16,860

Cash invested: $54,600 (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: 7.0×

Monthly cashflow live

• Estimated rent: $2,307 medium
• Mortgage (P&I): −$1,023
• Tax est. 1.5%: −$244 /mo · $2,925/yr
• Insurance: −$81
• HOA: −$0
• Vacancy / Maint / Mgmt: −$484
• Net cashflow: $475

Break-even live

Break-even rent $1,706

Max offer price $195,000

Occupancy floor 74%

Sensitivity live

Price	-10% $610	-5% $542	+0% $475	+5% $407	+10% $340
Rent	-10% $293	-5% $384	+0% $475	+5% $566	+10% $657
Rate	-1.0pp $573	-0.5pp $524	base $475	+0.5pp $424	+1.0pp $373

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: $48,750
• Closing costs: $5,850
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
18108 Oakwood Ave Lansing, IL	3.0	1.0	2100	$2,300	$1.10	2d	1	0.91mi
18343 Oakwood Ave Lansing, IL	4.0	2.0	1700	$2,700	$1.59	2d	1	0.92mi
2824 186th St Lansing, IL	3.0	2.0	1400	$2,900	$2.07	11d	1	0.93mi
17723 Exchange Ave Unit 17723-1N Lansing, IL	3.0	2.0	1100	$1,800	$1.64	2d	1	0.96mi

Listing history 35 events

1. 2026-06-18
   days on market $195,000 Active 127 DOM
2. 2026-06-17
   days on market $195,000 Active 126 DOM
3. 2026-06-16
   days on market $195,000 Active 125 DOM
4. 2026-06-15
   days on market $195,000 Active 124 DOM
5. 2026-06-13
   days on market $195,000 Active 122 DOM
6. 2026-06-09
   pricedays on market $195,000 Active 118 DOM
7. 2026-06-08
   days on market $205,000 Active 117 DOM
8. 2026-06-07
   days on market $205,000 Active 116 DOM
9. 2026-06-04
   days on market $205,000 Active 113 DOM
10. 2026-06-03
    days on market $205,000 Active 112 DOM
11. 2026-06-02
    days on market $205,000 Active 111 DOM
12. 2026-06-01
    days on market $205,000 Active 110 DOM
13. 2026-05-31
    days on market $205,000 Active 109 DOM
14. 2026-04-30
    price $205,000
15. 2026-03-16
    price $215,000
16. 2026-02-12
    listed $225,000 Active
17. 2026-02-12
    historical
18. 2025-11-21
    price
19. 2025-10-17
    price
20. 2025-09-16
    price
21. 2025-08-15
    listed Active
22. 2025-08-15
    historical
23. 2024-11-12
    status Active
24. 2024-11-12
    price
25. 2024-10-08
    status Pending
26. 2024-09-05
    listed Active
27. 2024-01-31
    historical
28. 2023-06-08
    status Active
29. 2023-06-08
    price
30. 2023-05-03
    historical Contingent - Continue to Show
31. 2023-04-19
    price
32. 2023-01-31
    listed Active
33. 2006-10-26
    soldstatus $245,000
34. 2006-01-01
    historical
35. 2005-06-20
    listed $269,900

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥102°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 0% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $27,681
• − Mortgage interest: −$10,923
• − Property taxes: −$2,925
• − Insurance: −$975
• − Repairs & maintenance: −$2,215
• − Management: −$2,215
• − Depreciation: −$5,673
• Taxable income: $2,757
• Est. tax owed @ 24.0%: −$662
• After-tax cash flow: $5,035/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

-24.0% since first listed

22 events — show timeline

• 2026-04-30 Price Changed $205,000 MRED as Distributed by MLS Grid
• 2026-03-16 Price Changed $215,000 MRED as Distributed by MLS Grid
• 2026-02-12 Listing Removed — MRED as Distributed by MLS Grid
• 2026-02-12 Listed $225,000 MRED as Distributed by MLS Grid
• 2025-11-21 Price Changed — MRED as Distributed by MLS Grid
• 2025-10-17 Price Changed — MRED as Distributed by MLS Grid
• 2025-09-16 Price Changed — MRED as Distributed by MLS Grid
• 2025-08-15 Listing Removed — MRED as Distributed by MLS Grid
• 2025-08-15 Listed — MRED as Distributed by MLS Grid
• 2024-11-12 Relisted — MRED as Distributed by MLS Grid
• 2024-11-12 Price Changed — MRED as Distributed by MLS Grid
• 2024-10-08 Pending — MRED as Distributed by MLS Grid
• 2024-09-05 Listed — MRED as Distributed by MLS Grid
• 2024-01-31 Listing Removed — MRED as Distributed by MLS Grid
• 2023-06-08 Relisted — MRED as Distributed by MLS Grid
• 2023-06-08 Price Changed — MRED as Distributed by MLS Grid
• 2023-05-03 Contingent — MRED as Distributed by MLS Grid
• 2023-04-19 Price Changed — MRED as Distributed by MLS Grid
• 2023-01-31 Listed — MRED as Distributed by MLS Grid
• 2006-10-26 Sold (Public Records) $245,000 Public Records
• 2006-01-01 Listing Removed — NIRA MLS as Distributed by MLS Grid
• 2005-06-20 Listed $269,900 NIRA MLS as Distributed by MLS Grid

Property tax history

+4.8%/yr

Latest (2023): $11,128 · +19.5% YoY. Source: county tax records.