1605 S 49th Ct · Cicero, IL 60804

$345,000

7 bd · 3.0 ba · 3,276 sqft · MultiFamily public records · 7 Days on market

Built 1928 3,750 sqft lot

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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 +28.6/30.0
• DSCR +10.0/10.0
• 1% rule +9.2/10.0
• ARV discount +7.5/15.0
• Livability +4.1/5.0
• Rent growth +3.1/5.0
• Condition / age +2.5/5.0
• Schools +1.1/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 3 units. confirmed

Listing remarks

Check out this spacious 3-unit building + Massive attic with great bones and endless potential! This property features two units, each offering 3 bedrooms with separate living and dining rooms, plus a finished basement with 1 bedroom and 1 full bath. A great investment opportunity, you can live in one unit and rent out the other two for additional income. Recent updates include the house and garage roofs, both replaced 3 years ago, and the furnace, replaced 6 years ago. Bring your vision and make this your next home or investment property! Sold As IS Pre sale inspection report attached - additional info

Key facts

• Recent updates
• Massive attic
• Finished basement

Tags

• SPACIOUS 3 UNIT BUILDING
• MASSIVE ATTIC
• FINISHED BASEMENT
• RECENT UPDATES
• INVESTMENT OPPORTUNITY

Property features AI

Finance

• Other: Three units in the building; Unit breakdown: Two 1,150 sq ft units (each with 3 beds, 1 bath) and one 970 sq ft unit (1 bed, 1 bath); Some units delivered with stove and refrigerator; one unit lists stove only; One unit on month-to-month lease; other units list no lease expiration; Possession available at closing or immediate
• Financial info: Special service area: No; Tax exemptions: Homeowner

Exterior

• Parking: Detached garage (garage owned) with 2 garage spaces; 2 parking spaces total
• Utilities: Water from Lake Michigan / public water; Public sewer
• Home design: Two- to four-unit multi-family building; Fee simple ownership; Building is 91–100 years old; Not recently rebuilt or rehabbed; Aluminum siding and brick exterior
• Construction: Aluminum siding and brick construction
• Exterior features: Lot dimensions approximately 30 x 125; Lot under 0.25 acre; Zoned for multi-family

Interior

• Kitchen: Stove; Refrigerator
• Bedrooms: 7 bedrooms total (units include three 3-bedroom units and one 1-bedroom unit configuration across building)
• Bathrooms: 3 full bathrooms in building
• Heating & cooling: Natural gas heating with radiators
• Interior features: 18 total rooms; Finished full basement
• Laundry & utility: Tenants pay electric and gas

What this means for you Summary

Snapshot

• This is a 3 × 2-bed/1.0-bath units multifamily listed at $345k.

Deal economics

• At list price, monthly cash flow is $1k ($14k/yr) — positive. Per door: $379/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $345k).
• Cap rate 10.3% vs local median 4.6% in Cicero — 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 82/100 on livability (#77 in IL, #1,276 nationally) — a professional / high-income tenant draw. Strengths: commute A+, cost of living A+, housing A+.
• J S Morton Hsd 201 (suburban): math 9% / reading 14% proficiency, ranked #557 of 620 in IL (top 90%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: J Sterling Morton East High Sch (math 7% / reading 11%, grade F, #580 of 693 statewide, top 84%, 3,445 students, 0% FRL).
• Market conditions: Rents rising (+2.4%/yr); 103 active listings in the ZIP; 6,272 units permitted in Cook County in 2024 (4,658 in 5+ unit buildings).
• At $4,901/mo this rent would consume 83% of the median local household income ($71k/yr) (locally 2178% 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 $10k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 2.4% rent growth), your $97k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: property tax is 2.7% of price; built in 1928 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $345,000

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1928 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
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 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: 1.42% ✓
• Cap rate: 10.25%
• Cash-on-cash: 14.14%
• DSCR: 1.63
• GRM: 5.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 2.43% rent growth · sell at horizon

5-year hold

• IRR: 3.8%
• Equity multiple: 1.15×
• Total profit: $14,089
• Equity at exit: $51,441

10-year hold

• IRR: 12.8%
• Equity multiple: 1.99×
• Total profit: $95,459
• Equity at exit: $29,829

Cash invested: $96,600 (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 60804

• Rents YoY: 2.4%
• Active inventory: 103
• Price-to-rent: 17.6×

Monthly cashflow live

• Estimated rent: $4,901 high
• Mortgage (P&I): −$1,809
• Tax from tax record: −$780 /mo · $9,366/yr
• Insurance: −$144
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,029
• Net cashflow: $1,138

Break-even live

Break-even rent $3,460

Max offer price $345,000

Occupancy floor 72%

3-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 3× units	2	1	$4,902
Total (3 units)			$4,901

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: $86,250
• Closing costs: $10,350
• Reserves months: —
• Total cash needed: —

Listing history 15 events

1. 2026-06-18
   days on market $345,000 Active 7 DOM
2. 2026-06-17
   days on market $345,000 Active 6 DOM
3. 2026-06-16
   days on market $345,000 Active 5 DOM
4. 2026-06-15
   days on market $345,000 Active 4 DOM
5. 2026-06-13
   days on marketlisting id $345,000 Active 2 DOM
6. 2026-06-09
   pricestatusdays on market $345,000 Active 14 DOM
7. 2026-06-08
   days on market $360,000 Contingent - Continue to Show 13 DOM
8. 2026-06-07
   days on market $360,000 Contingent - Continue to Show 12 DOM
9. 2026-06-04
   days on market $360,000 Contingent - Continue to Show 9 DOM
10. 2026-06-03
    days on market $360,000 Contingent - Continue to Show 8 DOM
11. 2026-06-02
    statusdays on market $360,000 Contingent - Continue to Show 7 DOM
12. 2026-06-01
    days on market $360,000 Active 6 DOM
13. 2026-05-31
    days on market $360,000 Active 5 DOM
14. 2026-05-06
    listed $360,000 Active
15. 2007-01-09
    soldstatus $310,000

ⓘ 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: $9,366 · $780/mo
• Projected year-2 tax: $9,366 · $780/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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥99°F today · 14 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 5 unhealthy d/yr today · 7 by 30 yrs out

Taxation est. · year 1

• Rental income: $58,812
• − Mortgage interest: −$19,325
• − Property taxes: −$9,366
• − Insurance: −$1,725
• − Repairs & maintenance: −$4,705
• − Management: −$4,705
• − Depreciation: −$10,036
• Taxable income: $8,949
• Est. tax owed @ 24.0%: −$2,148
• After-tax cash flow: $11,512/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: J S Morton Hsd 201
• NCES district ID: 1726880
• Math proficiency: 9% ▲ 1.00%
• Reading proficiency: 14% ▼ -1.00%
• Median HH income: $48,698
• Composite: 10.73/100
• National rank: #9768
• State rank: #557 of 620 in IL

Livability — Cicero

• Score: 82/100
• State rank: #77
• US rank: #1276

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Cicero, IL
• County: Cook County · 4,486,803 people
• City population: 82,797
• Metro: Chicago-Naperville-Elgin, IL-IN-WI
• Population (ZIP): 82,797
• Household income: $70,842
• Rent vs Own: 45.4% rent · 54.6% own
• Severe rent burden: 2178.0

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: Predominantly Hispanic (89%)
• Race & ethnicity: Hispanic / Latino 89% Two or more races 17% White 7% Black 3% Native American 2%
• Hispanic origin (detail): Mexican 80% Puerto Rican 3%
• Common ancestry: Romanian 2%
• Foreign-born: 40% · Canada, Jamaica
• Languages at home: 18% English-only · Spanish 80%

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: ▼ -165.38%
• Current HPI: 262.83
• Rent YoY: ▲ 2.43%
• 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

+16.1% since first listed

2 events — show timeline

• 2026-05-06 Listed $360,000 MRED as Distributed by MLS Grid
• 2007-01-09 Sold (Public Records) $310,000 Public Records

Property tax history

+2.1%/yr

Latest (2023): $9,366 · +18.9% YoY. Source: county tax records.