9940 Melvina Ave · Oak Lawn, IL 60453

$175,000

4 bd · 2.5 ba · 1,946 sqft · SingleFamily public records · 45 Days on market

Built 1930 7,500 sqft lot $90/sqft · 54% below area

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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 +4.6/5.0
• Livability +4.0/5.0
• Condition / age +2.5/5.0
• Schools +1.6/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

MOST LIKELY A TEARDOWN

Key facts

• Double lot
• 7,500 sq ft lot
• 4 parking spots

Tags

• DOUBLE LOT
• WALKING DISTANCE TO PARK
• WALKING DISTANCE TO PLAYGROUND
• WALKING DISTANCE TO MALL
• WALKING DISTANCE TO GYM
• WALKING DISTANCE TO SCHOOLS

Property features AI

Finance

• Other: Not currently leased; Parcel numbers on file
• HOA & community: No master association fee required; Community features include park, sidewalks, and street lights

Exterior

• Parking: 4 parking spaces total; Asphalt driveway with off-street parking and side apron (owned)
• Utilities: Water from Lake Michigan and public supply; Public sewer
• Home design: Detached single-family home; 2 stories; Fee simple ownership; Estimated living area
• Construction: Frame construction; Built approximately 91–100 years ago; Property built before 1978
• Exterior features: Deck; Porch

Interior

• Kitchen: Kitchen with eating area/table space
• Bedrooms: 5 bedrooms (Master on main level; additional bedrooms on main and second levels)
• Bathrooms: 2 full bathrooms; 1 half bathroom
• Heating & cooling: Natural gas heating
• Interior features: Screens on windows; 9 total rooms; Separate dining room
• Laundry & utility: In-unit laundry with gas dryer hookup

What this means for you Summary

Snapshot

• This is a 4-bed/2.5-bath single-family listed at $175k.

Deal economics

• At list price, monthly cash flow is $753 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $175k).
• Recommended offer: $170k (3.0% below list) — sets the bar for market timing.
• Cap rate 14.4% vs local median 4.4% in Oak Lawn — 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 80/100 on livability (#102 in IL, #1,614 nationally) — a professional / high-income tenant draw. Strengths: commute A+, housing A+, employment A-.
• Chsd 218 (suburban): math 14% / reading 20% proficiency, ranked #454 of 620 in IL (top 73%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Columbus Manor Elem School (math 22% / reading 32%, grade F, #749 of 2,056 statewide, top 40%, 356 students, 0% FRL); Simmons Middle School (math 13% / reading 22%, grade F, #450 of 665 statewide, top 69%, 751 students, 0% FRL); H L Richards High Sch(Campus) (math 17% / reading 20%, grade F, #427 of 693 statewide, top 62%, 1,676 students, 0% FRL).
• Market conditions: Rents rising fast (+8.2%/yr); 189 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 14d 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).
• This rent runs 44% of the median local income ($84k/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 $5k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $49k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 45 days — a 3% lower offer ($170k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts 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.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo; built in 1930 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $169,750 (3.0% below list)

Questions for the listing agent

1. It's been on market 45 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 1930 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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.
6. 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.
7. 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: 1.75% ✓
• Cap rate: 14.38%
• Cash-on-cash: 28.88%
• DSCR: 2.29
• GRM: 4.8

CMA / ARV

• ARV (median comp): $466,711
• List price: $175,000
• Delta: -62.50%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
9957 Moody Ave	0.10mi	4/2.0	1,999 (+3%)	9mo	$304,000	$152	81
10128 Mansfield Ave	0.52mi	3/2.0 (-1)	1,800 (-8%)	2mo	$405,000	$225	55
9606 S Natoma Ave	0.72mi	4/2.0	1,843 (-5%)	3mo	$175,000	$95	54
9709 Mansfield Ave	0.56mi	4/3.5	2,038 (+5%)	12mo	$420,000	$206	52
5620 W 99th St	0.71mi	3/1.5 (-1)	1,923 (-1%)	4mo	$377,625	$196	52
9555 Merton Ave	0.48mi	3/3.5 (-1)	1,750 (-10%)	0mo	$480,000	$274	52
9716 Massasoit Ave	0.63mi	3/2.5 (-1)	2,043 (+5%)	9mo	$392,000	$192	50
9824 Normandy Ave	0.65mi	5/2.0 (+1)	1,920 (-1%)	14mo	$390,000	$203	49
9736 Merton Ave	0.29mi	3/2.0 (-1)	1,738 (-11%)	17mo	$315,000	$181	48
6504 103rd St	0.56mi	5/2.0 (+1)	2,060 (+6%)	13mo	$310,000	$150	46
6232 Washington St	0.67mi	4/2.0	1,756 (-10%)	10mo	$272,700	$155	42
5733 W 101st Pl	0.61mi	3/2.0 (-1)	1,726 (-11%)	7mo	$330,000	$191	40

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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 17.0%
• Equity multiple: 1.74×
• Total profit: $36,090
• Equity at exit: $26,093

10-year hold

• IRR: 29.5%
• Equity multiple: 4.43×
• Total profit: $168,095
• Equity at exit: $15,131

Cash invested: $49,000 (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 60453

• Rents YoY: 8.2%
• Active inventory: 189
• Price-to-rent: 4.8×

Monthly cashflow live

• Estimated rent: $3,060 medium
• Mortgage (P&I): −$918
• Tax from tax record: −$247 /mo · $2,967/yr
• Insurance: −$73
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$643
• Net cashflow: $753

Break-even live

Break-even rent $2,107

Max offer price $175,000

Occupancy floor 70%

Sensitivity live

Price	-10% $852	-5% $802	+0% $753	+5% $703	+10% $654
Rent	-10% $511	-5% $632	+0% $753	+5% $874	+10% $995
Rate	-1.0pp $841	-0.5pp $797	base $753	+0.5pp $708	+1.0pp $661

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: $43,750
• Closing costs: $5,250
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
10326 Mayfield Ave Unit 1N Oak Lawn, IL	4.0	2.0	1300	$2,400	$1.85	17d	1	0.61mi
9705 Oak Park Ave Oak Lawn, IL	3.0	2.5	2050	$4,975	$2.43	0d	1	0.80mi
9308 Nordica Ave Oak Lawn, IL	3.0	2.0	1349	$960	$0.71	14d	1	1.34mi

Listing history 24 events

1. 2026-06-21
   days on market $175,000 Active 45 DOM
2. 2026-06-18
   days on market $175,000 Active 42 DOM
3. 2026-06-17
   days on market $175,000 Active 41 DOM
4. 2026-06-16
   days on market $175,000 Active 40 DOM
5. 2026-06-15
   days on market $175,000 Active 39 DOM
6. 2026-06-13
   days on market $175,000 Active 37 DOM
7. 2026-06-09
   days on market $175,000 Active 33 DOM
8. 2026-06-08
   days on market $175,000 Active 32 DOM
9. 2026-06-07
   days on market $175,000 Active 31 DOM
10. 2026-06-04
    days on market $175,000 Active 28 DOM
11. 2026-06-03
    days on market $175,000 Active 27 DOM
12. 2026-06-02
    days on market $175,000 Active 26 DOM
13. 2026-06-01
    days on market $175,000 Active 25 DOM
14. 2026-05-31
    days on market $175,000 Active 24 DOM
15. 2026-05-07
    listed $175,000 Active 545-char remark

    Show marketing remark (22 chars)

    MOST LIKELY A TEARDOWN

16. 2026-05-07
    listed $175,000 Active 22-char remark

    Show marketing remark (22 chars)

    MOST LIKELY A TEARDOWN

17. 2026-04-01
    historical
18. 2026-04-01
    historical
19. 2026-03-01
    price
20. 2026-03-01
    price
21. 2025-11-24
    listed Active
22. 2025-11-24
    listed Active
23. 2025-03-28
    historical
24. 2025-02-17
    listed 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: $2,967 · $247/mo
• Projected year-2 tax: $3,470 · $289/mo
• Expected delta: +$503/yr (+$42/mo · 16.9%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 7/10 Severe FEMA zone AE · 76% 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 3/10 Moderate 4 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $36,718
• − Mortgage interest: −$9,803
• − Property taxes: −$2,967
• − Insurance: −$5,994
• − Repairs & maintenance: −$2,937
• − Management: −$2,937
• − Depreciation: −$5,091
• Taxable income: $6,989
• Est. tax owed @ 24.0%: −$1,677
• After-tax cash flow: $7,357/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: Chsd 218
• NCES district ID: 1706540
• Math proficiency: 14% ▼ -4.00%
• Reading proficiency: 20% ▼ -1.00%
• Median HH income: $57,166
• Composite: 16.09/100
• National rank: #9235
• State rank: #454 of 620 in IL

Livability — Oak Lawn

• Score: 80/100
• State rank: #102
• US rank: #1614

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Oak Lawn, IL
• County: Cook County · 4,486,803 people
• City population: 56,861
• Metro: Chicago-Naperville-Elgin, IL-IN-WI
• Population (ZIP): 56,861
• Household income: $83,911
• Rent vs Own: 17.5% rent · 82.5% own
• Severe rent burden: 827.0

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: Majority White (64%)
• Race & ethnicity: White 64% Hispanic / Latino 24% Two or more races 9% Black 8% Asian 2%
• Hispanic origin (detail): Mexican 21%
• Common ancestry: Romanian 16% Iranian 1% Armenian 1%
• Foreign-born: 16% · Canada, Vietnam
• Languages at home: 70% English-only · Spanish 17% Russian/Polish/Slavic 5% Arabic 4%

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: ▼ -259.83%
• Current HPI: 214.6977
• Rent YoY: ▲ 8.23%
• 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

+0.0% since first listed

10 events — show timeline

• 2026-05-07 Listed $175,000 MRED as Distributed by MLS Grid
• 2026-05-07 Listed $175,000 MRED as Distributed by MLS Grid
• 2026-04-01 Listing Removed — MRED as Distributed by MLS Grid
• 2026-04-01 Listing Removed — MRED as Distributed by MLS Grid
• 2026-03-01 Price Changed — MRED as Distributed by MLS Grid
• 2026-03-01 Price Changed — MRED as Distributed by MLS Grid
• 2025-11-24 Listed — MRED as Distributed by MLS Grid
• 2025-11-24 Listed — MRED as Distributed by MLS Grid
• 2025-03-28 Listing Removed — MRED as Distributed by MLS Grid
• 2025-02-17 Listed — MRED as Distributed by MLS Grid

Property tax history

+3.0%/yr

Latest (2023): $2,967 · +50.4% YoY. Source: county tax records.