171 Frederick Dr · Chicago Heights, IL 60411

$232,000

4 bd · 1.5 ba · 1,539 sqft · SingleFamily public records · 48 Days on market

Built 1959 6,360 sqft lot Est $229k · at est.

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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 +23.4/30.0
• DSCR +7.5/10.0
• ARV discount +7.0/15.0
• 1% rule +6.1/10.0
• 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

Beautifully updated 4-bedroom, 2-bath home that's truly movein ready. Enjoy a modern kitchen featuring granite countertops, stainless steel appliances, and an updated light fixture. Both bathrooms offer contemporary tiling, and the home includes newer windows throughout. Spacious bedrooms provide generous closet space, and the large living room with a cozy fireplace is perfect for relaxing or entertaining. Step outside to a private backyard surrounded by lush greenery. The long driveway offers ample parking. Conveniently located near schools, parks, shopping, restaurants, and just minutes from the new casino. Located in the highly regarded Homewood Flossmoor School District. Schedule your s

Key facts

• Contemporary tiling
• Newer windows
• Modern kitchen

Tags

• MODERN KITCHEN
• GRANITE COUNTERTOPS
• STAINLESS STEEL APPLIANCES
• UPDATED LIGHT FIXTURE
• CONTEMPORARY TILING
• NEWER WINDOWS

Property features AI

Finance

• Other: Fee simple ownership; Property not currently leased; Possession at closing
• HOA & community: No master association fee required

Exterior

• Parking: Detached garage (1 garage space; 1 total parking space)
• Utilities: Public water; Public sewer
• Home design: Detached single-family home; Two-story
• Construction: Brick construction; Built approximately 61–70 years ago; Built before 1978
• Exterior features: Lot dimensions approximately 60 x 106; Lot smaller than 0.25 acre; School bus service and commuter train access

Interior

• Kitchen: Kitchen (main level) — 10 x 10
• Bedrooms: Master bedroom (second level) — 14 x 15, carpet; Bedroom (second level) — 10 x 15, carpet; Bedroom (main level) — 13 x 11, carpet; Bedroom (main level) — 9 x 11, carpet
• Flooring: Carpet flooring in bedrooms and master
• Bathrooms: Two full bathrooms
• Heating & cooling: Natural gas heating; Central air conditioning
• Interior features: Seven total rooms; Fireplace in the living room; Dining area combined with living room
• Laundry & utility: Laundry room

What this means for you Summary

Snapshot

• This is a 4-bed/1.5-bath single-family listed at $232k.

Deal economics

• At list price, monthly cash flow is $428 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $232k).
• Recommended offer: $225k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.5% 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); 224 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 6,272 units permitted in Cook County in 2024 (4,658 in 5+ unit buildings).
• At $2,584/mo this rent would consume 50% of the median local household income ($62k/yr) (locally 1714% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 6.5% rent growth), your $65k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 48 days — a 3% lower offer ($225k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 7y 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 $151k; list at $232k implies a 54% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1959 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $225,040 (3.0% below list)

Questions for the listing agent

1. It's been on market 48 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 1959 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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 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?
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 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: 1.11% ✓
• Cap rate: 8.51%
• Cash-on-cash: 7.91%
• DSCR: 1.35
• GRM: 7.5

CMA / ARV

• ARV (on-the-fly): $229,311
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
182 Frederick Dr	0.04mi	4/1.5	1,539 (0%)	2mo	$99,900	$65	97
220 W Raye Dr	0.12mi	4/2.0	1,600 (+4%)	4mo	$175,000	$109	83
159 Pleasant Dr	0.15mi	3/2.0 (-1)	1,653 (+7%)	0mo	$225,000	$136	73
251 Frederick Dr	0.18mi	4/2.0	1,632 (+6%)	8mo	$266,000	$163	72
135 N Floyd Ln	0.41mi	4/2.0	1,600 (+4%)	8mo	$225,000	$141	65
1307 Thomas St	0.62mi	4/2.0	1,487 (-3%)	1mo	$319,000	$215	63
168 W Normandy Dr	0.42mi	4/2.0	1,350 (-12%)	1mo	$258,000	$191	57
176 N Floyd Ln	0.38mi	3/2.0 (-1)	1,660 (+8%)	7mo	$150,000	$90	56
421 Carey Ct	0.74mi	3/1.5 (-1)	1,520 (-1%)	9mo	$253,200	$167	51
313 Homewood Ct	0.66mi	3/2.0 (-1)	1,600 (+4%)	7mo	$245,000	$153	50
19380 Peoria St	0.60mi	4/2.0	1,699 (+10%)	8mo	$195,000	$115	45
19024 Jodi Ter	0.69mi	4/2.0	1,737 (+13%)	10mo	$258,000	$149	36

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: -0.4%
• Equity multiple: 0.99×
• Total profit: $-923
• Equity at exit: $34,592

10-year hold

• IRR: 12.7%
• Equity multiple: 2.17×
• Total profit: $75,757
• Equity at exit: $20,059

Cash invested: $64,960 (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: 7.5×

Monthly cashflow live

• Estimated rent: $2,584 medium
• Mortgage (P&I): −$1,217
• Tax from tax record: −$300 /mo · $3,598/yr
• Insurance: −$97
• HOA: −$0
• Vacancy / Maint / Mgmt: −$543
• Net cashflow: $428

Break-even live

Break-even rent $2,042

Max offer price $232,000

Occupancy floor 78%

Sensitivity live

Price	-10% $559	-5% $494	+0% $428	+5% $362	+10% $297
Rent	-10% $224	-5% $326	+0% $428	+5% $530	+10% $632
Rate	-1.0pp $545	-0.5pp $487	base $428	+0.5pp $368	+1.0pp $307

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: $58,000
• Closing costs: $6,960
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1332 Jamie Ln Homewood, IL	4.0	2.5	1576	$3,171	$2.01	25d	1	0.91mi
531 Wallace St Chicago Heights, IL	3.0	1.0	1100	$2,000	$1.82	6d	1	1.29mi

Listing history 34 events

1. 2026-06-21
   days on market $232,000 Active 48 DOM
2. 2026-06-18
   days on market $232,000 Active 45 DOM
3. 2026-06-17
   days on market $232,000 Active 44 DOM
4. 2026-06-16
   days on market $232,000 Active 43 DOM
5. 2026-06-15
   days on market $232,000 Active 42 DOM
6. 2026-06-13
   pricedays on market $232,000 Active 40 DOM
7. 2026-06-09
   days on market $240,000 Active 36 DOM
8. 2026-06-08
   days on market $240,000 Active 35 DOM
9. 2026-06-07
   days on market $240,000 Active 34 DOM
10. 2026-06-04
    days on market $240,000 Active 31 DOM
11. 2026-06-03
    days on market $240,000 Active 30 DOM
12. 2026-06-02
    days on market $240,000 Active 29 DOM
13. 2026-06-01
    days on market $240,000 Active 28 DOM
14. 2026-05-31
    days on market $240,000 Active 27 DOM
15. 2026-05-04
    listed $240,000 Active
16. 2025-11-01
    historical
17. 2025-10-25
    price
18. 2025-10-14
    listed Active
19. 2025-10-14
    historical
20. 2025-10-01
    price
21. 2025-09-12
    price
22. 2025-08-25
    listed Active
23. 2020-07-08
    soldstatus $151,000
24. 2020-04-16
    soldstatus $150,530 Closed Sale
25. 2020-02-22
    historical Contingent
26. 2020-02-14
    listed $149,000 New
27. 2020-02-12
    historical
28. 2020-01-03
    status Reactivated
29. 2019-12-26
    historical Contingent
30. 2019-11-06
    listed New
31. 2019-02-07
    soldstatus $60,000
32. 1991-09-26
    soldstatus $30,000
33. 1987-10-01
    soldstatus $46,000
34. 1985-05-01
    soldstatus $43,900

ⓘ 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: $3,598 · $300/mo
• Projected year-2 tax: $4,432 · $369/mo
• Expected delta: +$834/yr (+$70/mo · 23.2%)

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

Taxation est. · year 1

• Rental income: $31,006
• − Mortgage interest: −$12,996
• − Property taxes: −$3,598
• − Insurance: −$1,160
• − Repairs & maintenance: −$2,480
• − Management: −$2,480
• − Depreciation: −$6,749
• Taxable income: $1,542
• Est. tax owed @ 24.0%: −$370
• After-tax cash flow: $4,767/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

+446.7% since first listed

20 events — show timeline

• 2026-05-04 Listed $240,000 MRED as Distributed by MLS Grid
• 2025-11-01 Listing Removed — MRED as Distributed by MLS Grid
• 2025-10-25 Price Changed — MRED as Distributed by MLS Grid
• 2025-10-14 Listing Removed — MRED as Distributed by MLS Grid
• 2025-10-14 Listed — MRED as Distributed by MLS Grid
• 2025-10-01 Price Changed — MRED as Distributed by MLS Grid
• 2025-09-12 Price Changed — MRED as Distributed by MLS Grid
• 2025-08-25 Listed — MRED as Distributed by MLS Grid
• 2020-07-08 Sold (Public Records) $151,000 Public Records
• 2020-04-16 Sold (MLS) $150,530 MRED as Distributed by MLS Grid
• 2020-02-22 Contingent — MRED as Distributed by MLS Grid
• 2020-02-14 Listed $149,000 MRED as Distributed by MLS Grid
• 2020-02-12 Listing Removed — MRED as Distributed by MLS Grid
• 2020-01-03 Relisted — MRED as Distributed by MLS Grid
• 2019-12-26 Contingent — MRED as Distributed by MLS Grid
• 2019-11-06 Listed — MRED as Distributed by MLS Grid
• 2019-02-07 Sold (Public Records) $60,000 Public Records
• 1991-09-26 Sold (Public Records) $30,000 Public Records
• 1987-10-01 Sold (Public Records) $46,000 Public Records
• 1985-05-01 Sold (Public Records) $43,900 Public Records

Property tax history

+0.7%/yr

Latest (2023): $3,598 · +18.8% YoY. Source: county tax records.