16107 Spaulding Ave · Markham, IL 60428

$122,100

3 bd · 1.5 ba · 1,426 sqft · SingleFamily public records · 213 Days on market

Built 2004 7,920 sqft lot Est $185k · 34% under

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Why this score? — see what drove the A 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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.5/10.0

Listing remarks MLS

MUST SEE TO APPRECIATE POTENTIAL. GREAT OPPORTUNITY! VACANT, EASY TO SHOW. AS-IS. BUYER TO VERIFY RM COUNT, ZONING & DIMENSIONS. EARNEST MONEY MUST BE CASHIERS CHECK. NO DISCLOSURES/NO SURVEY PROVIDED BY SELLER. BUYER RESPONSIBLE FOR INSPECTIONS, COMPL & ESCROWS AS NEEDED. FAX OFFERS WITH PRE-QUAL OR PROOF OF FUNDS TO LISTING OFFICE. ADDENDUMS APPLY UPON ACCEPTANCE. ALLOW TIME FOR RESPONSE.

Key facts

• 7,920 sq ft lot
• 2 garage spots
• Built 2004

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $122k.

Deal economics

• At list price, monthly cash flow is $993 ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $122k).
• Recommended offer: $107k (12.0% below list) — sets the bar for market timing.
• Cap rate 16.0% vs local median 10.2% in Markham — 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 76/100 on livability (#186 in IL, #3,539 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: crime D, amenities D, employment D.
• Bremen Chsd 228 (suburban): math 15% / reading 17% proficiency, ranked #468 of 620 in IL (top 76%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 65 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).

Forward outlook

• In year one you build about $13k of equity ($844 loan paydown + $12k appreciation (10.0% local appreciation)).
• At projected returns (10.0% appreciation + 3.0% rent growth), your $34k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 213 days — a 12% lower offer ($107k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 19y ago; this cycle's ask has dropped $29k (19%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $92k; 32% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $107,448 (12.0% below list)

Questions for the listing agent

1. It's been on market 213 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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 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?
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: 1.90% ✓
• Cap rate: 16.05%
• Cash-on-cash: 34.84%
• DSCR: 2.55
• GRM: 4.4

CMA / ARV

• ARV (on-the-fly): $185,380
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
16224 Kedzie Ave	0.18mi	3/1.5	1,476 (+4%)	3mo	$127,000	$86	84
16431 Spaulding Ave	0.42mi	3/1.0	1,500 (+5%)	2mo	$75,000	$50	68
16426 Homan Ave	0.44mi	3/3.0	1,419 (-0%)	6mo	$190,000	$134	67
16230 Turner Ave	0.20mi	3/1.0	1,563 (+10%)	7mo	$200,000	$128	67
16302 Trumbull Ave	0.33mi	3/1.0	1,260 (-12%)	2mo	$139,900	$111	61
16030 Saint Louis Ave	0.29mi	3/1.5	1,228 (-14%)	3mo	$200,000	$163	61
16524 Sawyer Ave	0.53mi	4/2.0 (+1)	1,501 (+5%)	0mo	$192,500	$128	59
2751 N Oxford Dr	0.64mi	3/1.0	1,475 (+3%)	6mo	$208,000	$141	57
15700 Turner Ave	0.52mi	4/1.0 (+1)	1,536 (+8%)	3mo	$199,900	$130	54
15749 Saint Louis Ave	0.50mi	3/2.5	1,575 (+10%)	4mo	$225,000	$143	52
2732 Circle Dr	0.68mi	3/1.5	1,269 (-11%)	3mo	$125,000	$99	47
16641 Sawyer Ave	0.69mi	4/1.5 (+1)	1,260 (-12%)	3mo	$188,000	$149	41

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 51.0%
• Equity multiple: 4.80×
• Total profit: $129,758
• Equity at exit: $109,997

10-year hold

• IRR: 44.7%
• Equity multiple: 10.72×
• Total profit: $332,467
• Equity at exit: $237,213

Cash invested: $34,188 (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 60428

• Home prices YoY: 8.5%
• Active inventory: 65
• Price-to-rent: 4.4×

Monthly cashflow live

• Estimated rent: $2,325 medium
• Mortgage (P&I): −$640
• Tax est. 1.5%: −$153 /mo · $1,832/yr
• Insurance: −$51
• HOA: −$0
• Vacancy / Maint / Mgmt: −$488
• Net cashflow: $993

Break-even live

Break-even rent $1,068

Max offer price $122,100

Occupancy floor 52%

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: $30,525
• Closing costs: $3,663
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3952 153rd St Midlothian, IL	4.0	2.0	1677	$2,396	$1.43	2d	1	1.48mi
3900 171st St Country Club Hills, IL	3.0	1.0	1750	$2,250	$1.29	8d	1	1.49mi

Listing history 18 events

1. 2026-04-27
   status Pending
2. 2026-03-30
   price $122,100
3. 2025-10-30
   price $133,280
4. 2025-09-26
   listed $150,920 Auction
5. 2009-05-01
   historical 405-char remark

   Show marketing remark (405 chars)

   MUST SEE TO APPRECIATE POTENTIAL. GREAT OPPORTUNITY! VACANT, EASY TO SHOW. AS-IS. BUYER TO VERIFY RM COUNT, ZONING & DIMENSIONS. EARNEST MONEY MUST BE CASHIERS CHECK. NO DISCLOSURES/NO SURVEY PROVIDED BY SELLER. BUYER RESPONSIBLE FOR INSPECTIONS, COMPL & ESCROWS AS NEEDED. FAX OFFERS WITH PRE-QUAL OR PROOF OF FUNDS TO LISTING OFFICE. ADDENDUMS APPLY UPON ACCEPTANCE. ALLOW TIME FOR RESPONSE.

6. 2009-04-30
   soldstatus $92,500 Closed Sale 405-char remark

   Show marketing remark (405 chars)

   MUST SEE TO APPRECIATE POTENTIAL. GREAT OPPORTUNITY! VACANT, EASY TO SHOW. AS-IS. BUYER TO VERIFY RM COUNT, ZONING & DIMENSIONS. EARNEST MONEY MUST BE CASHIERS CHECK. NO DISCLOSURES/NO SURVEY PROVIDED BY SELLER. BUYER RESPONSIBLE FOR INSPECTIONS, COMPL & ESCROWS AS NEEDED. FAX OFFERS WITH PRE-QUAL OR PROOF OF FUNDS TO LISTING OFFICE. ADDENDUMS APPLY UPON ACCEPTANCE. ALLOW TIME FOR RESPONSE.

7. 2009-03-19
   historical 405-char remark

   Show marketing remark (405 chars)

   MUST SEE TO APPRECIATE POTENTIAL. GREAT OPPORTUNITY! VACANT, EASY TO SHOW. AS-IS. BUYER TO VERIFY RM COUNT, ZONING & DIMENSIONS. EARNEST MONEY MUST BE CASHIERS CHECK. NO DISCLOSURES/NO SURVEY PROVIDED BY SELLER. BUYER RESPONSIBLE FOR INSPECTIONS, COMPL & ESCROWS AS NEEDED. FAX OFFERS WITH PRE-QUAL OR PROOF OF FUNDS TO LISTING OFFICE. ADDENDUMS APPLY UPON ACCEPTANCE. ALLOW TIME FOR RESPONSE.

8. 2009-01-21
   price $90,250 405-char remark

   Show marketing remark (405 chars)

   MUST SEE TO APPRECIATE POTENTIAL. GREAT OPPORTUNITY! VACANT, EASY TO SHOW. AS-IS. BUYER TO VERIFY RM COUNT, ZONING & DIMENSIONS. EARNEST MONEY MUST BE CASHIERS CHECK. NO DISCLOSURES/NO SURVEY PROVIDED BY SELLER. BUYER RESPONSIBLE FOR INSPECTIONS, COMPL & ESCROWS AS NEEDED. FAX OFFERS WITH PRE-QUAL OR PROOF OF FUNDS TO LISTING OFFICE. ADDENDUMS APPLY UPON ACCEPTANCE. ALLOW TIME FOR RESPONSE.

9. 2009-01-13
   status 405-char remark

   Show marketing remark (405 chars)

   MUST SEE TO APPRECIATE POTENTIAL. GREAT OPPORTUNITY! VACANT, EASY TO SHOW. AS-IS. BUYER TO VERIFY RM COUNT, ZONING & DIMENSIONS. EARNEST MONEY MUST BE CASHIERS CHECK. NO DISCLOSURES/NO SURVEY PROVIDED BY SELLER. BUYER RESPONSIBLE FOR INSPECTIONS, COMPL & ESCROWS AS NEEDED. FAX OFFERS WITH PRE-QUAL OR PROOF OF FUNDS TO LISTING OFFICE. ADDENDUMS APPLY UPON ACCEPTANCE. ALLOW TIME FOR RESPONSE.

10. 2008-11-04
    historical 405-char remark

    Show marketing remark (405 chars)

    MUST SEE TO APPRECIATE POTENTIAL. GREAT OPPORTUNITY! VACANT, EASY TO SHOW. AS-IS. BUYER TO VERIFY RM COUNT, ZONING & DIMENSIONS. EARNEST MONEY MUST BE CASHIERS CHECK. NO DISCLOSURES/NO SURVEY PROVIDED BY SELLER. BUYER RESPONSIBLE FOR INSPECTIONS, COMPL & ESCROWS AS NEEDED. FAX OFFERS WITH PRE-QUAL OR PROOF OF FUNDS TO LISTING OFFICE. ADDENDUMS APPLY UPON ACCEPTANCE. ALLOW TIME FOR RESPONSE.

11. 2008-10-22
    historical
12. 2008-10-17
    listed $95,000 405-char remark

    Show marketing remark (405 chars)

    MUST SEE TO APPRECIATE POTENTIAL. GREAT OPPORTUNITY! VACANT, EASY TO SHOW. AS-IS. BUYER TO VERIFY RM COUNT, ZONING & DIMENSIONS. EARNEST MONEY MUST BE CASHIERS CHECK. NO DISCLOSURES/NO SURVEY PROVIDED BY SELLER. BUYER RESPONSIBLE FOR INSPECTIONS, COMPL & ESCROWS AS NEEDED. FAX OFFERS WITH PRE-QUAL OR PROOF OF FUNDS TO LISTING OFFICE. ADDENDUMS APPLY UPON ACCEPTANCE. ALLOW TIME FOR RESPONSE.

13. 2008-10-07
    price
14. 2008-07-24
    listed
15. 2008-07-22
    historical
16. 2007-12-11
    listed
17. 2007-12-06
    historical
18. 2007-09-06
    listed

ⓘ 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 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: $27,896
• − Mortgage interest: −$6,839
• − Property taxes: −$1,832
• − Insurance: −$610
• − Repairs & maintenance: −$2,232
• − Management: −$2,232
• − Depreciation: −$3,552
• Taxable income: $10,599
• Est. tax owed @ 24.0%: −$2,544
• After-tax cash flow: $9,368/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: Bremen Chsd 228
• NCES district ID: 1707050
• Math proficiency: 15% ▼ -4.00%
• Reading proficiency: 17% ▼ -5.00%
• Median HH income: $57,625
• Composite: 15.32/100
• National rank: #9327
• State rank: #468 of 620 in IL

Livability — Markham

• Score: 76/100
• State rank: #186
• US rank: #3539

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Markham, IL
• City population: 10,980
• Population (ZIP): 10,980

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 Black (69%)
• Race & ethnicity: Black 69% Hispanic / Latino 17% White 11% Two or more races 4%
• Hispanic origin (detail): Mexican 16%
• Common ancestry: Romanian 1% Lithuanian 1% Iranian 1%
• Foreign-born: 8% · Canada
• Languages at home: 86% English-only · Spanish 14%

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: ▲ 23.63%
• Current HPI: 302.333
• Rent YoY: —
• Metro: —
• 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

+28.5% since first listed

18 events — show timeline

• 2026-04-27 Pending — MRED as Distributed by MLS Grid
• 2026-03-30 Price Changed $122,100 MRED as Distributed by MLS Grid
• 2025-10-30 Price Changed $133,280 MRED as Distributed by MLS Grid
• 2025-09-26 Listed $150,920 MRED as Distributed by MLS Grid
• 2009-05-01 Listing Removed — MRED as Distributed by MLS Grid
• 2009-04-30 Sold (MLS) $92,500 MRED as Distributed by MLS Grid
• 2009-03-19 Contingent — MRED as Distributed by MLS Grid
• 2009-01-21 Price Changed $90,250 MRED as Distributed by MLS Grid
• 2009-01-13 Relisted — MRED as Distributed by MLS Grid
• 2008-11-04 Contingent — MRED as Distributed by MLS Grid
• 2008-10-22 Listing Removed — MRED as Distributed by MLS Grid
• 2008-10-17 Listed $95,000 MRED as Distributed by MLS Grid
• 2008-10-07 Price Changed — MRED as Distributed by MLS Grid
• 2008-07-24 Listed — MRED as Distributed by MLS Grid
• 2008-07-22 Listing Removed — MRED as Distributed by MLS Grid
• 2007-12-11 Listed — MRED as Distributed by MLS Grid
• 2007-12-06 Listing Removed — MRED as Distributed by MLS Grid
• 2007-09-06 Listed — MRED as Distributed by MLS Grid

Property tax history

+2.6%/yr

Latest (2023): $9,062 · +46.0% YoY. Source: county tax records.