402 S 12th Ave · Maywood, IL 60153

$449,000

8 bd · 4.0 ba · 3,780 sqft · MultiFamily public records · 85 Days on market

Built 1916

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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 +26.3/30.0
• DSCR +8.9/10.0
• 1% rule +8.7/10.0
• ARV discount +7.5/15.0
• Livability +3.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.9/10.0
• Appreciation +0.0/10.0

Multi-family units

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

Listing remarks

Charming four unit in spacious corner lot in Maywood. Located just minutes from shopping, dining, and recreation, with quick access to to I-290, I-294 and I-88 just 20minuts from down town Chicago.

Key facts

• Quick access to i-88
• Corner lot
• 2 garage spots

Tags

• CORNER LOT
• QUICK ACCESS TO I-290
• QUICK ACCESS TO I-294
• QUICK ACCESS TO I-88

Property features AI

Finance

• Other: Possession at closing or immediate; Earnest money held
• Financial info: 4 units in the building; Current rents per unit: $1,300; $1,350; $1,300; $1,350 (month-to-month leases); Security deposits listed per unit: $850, $850, $950, $850; Special Service Area: No

Exterior

• Parking: Detached garage with 2 garage spaces (2 total parking spaces)
• Utilities: Lake Michigan water; Public sewer; Natural gas service
• Home design: Two- to four-unit property; Fee simple ownership; Undergoing rehab in 2025; 100+ years old; Not converted
• Construction: Brick construction; Built before 1978
• Exterior features: Corner lot (southwest corner)

Interior

• Kitchen: Each unit includes a stove and refrigerator
• Bedrooms: 8 bedrooms total (units distributed across floors)
• Bathrooms: 4 full bathrooms total
• Heating & cooling: Natural gas heating
• Interior features: 18 total rooms; Unfinished full basement
• Laundry & utility: Tenants pay utilities: electric, gas, and heat

What this means for you Summary

Snapshot

• This is a 4 × 2-bed/1.0-bath units multifamily listed at $449k.

Deal economics

• At list price, monthly cash flow is $1k ($14k/yr) — positive. Per door: $289/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($6k rent vs $449k).
• Recommended offer: $422k (6.0% below list) — sets the bar for market timing.
• Cap rate 9.4% vs local median 4.5% in Maywood — 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 78/100 on livability (#146 in IL, #2,694 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: health & safety C-, crime D+, schools F.
• Maywood-Melrose Park-Broadview 89 (suburban): math 14% / reading 21% proficiency, ranked #738 of 919 in IL (top 80%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 74% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 72 active listings in the ZIP; 6,272 units permitted in Cook County in 2024 (4,658 in 5+ unit buildings).
• At $6,135/mo this rent would consume 107% of the median local household income ($69k/yr) (locally 869% 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 $3k of loan paydown is wiped out by about $13k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $126k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 85 days — a 6% lower offer ($422k) is reasonable based on typical stale-listing flexibility.
• 2 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.
• Current owner paid $145k; list at $449k implies a 210% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 3.1% of price; built in 1916 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $422,060 (6.0% below list)

Questions for the listing agent

1. It's been on market 85 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1916 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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?
10. 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.
11. 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.
12. 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: 1.37% ✓
• Cap rate: 9.38%
• Cash-on-cash: 11.03%
• DSCR: 1.49
• GRM: 6.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 0.3%
• Equity multiple: 1.01×
• Total profit: $1,327
• Equity at exit: $66,947

10-year hold

• IRR: 10.0%
• Equity multiple: 1.78×
• Total profit: $97,809
• Equity at exit: $38,821

Cash invested: $125,720 (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 60153

• Home prices YoY: -20.5%
• Active inventory: 72
• Price-to-rent: 24.4×

Monthly cashflow live

• Estimated rent: $6,135 high
• Mortgage (P&I): −$2,355
• Tax from tax record: −$1,149 /mo · $13,787/yr
• Insurance: −$187
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,288
• Net cashflow: $1,156

Break-even live

Break-even rent $4,672

Max offer price $449,000

Occupancy floor 76%

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

Units	Beds	Baths	Est. rent
▸ 4× units	2	1	$6,136
Total (4 units)			$6,135

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: $112,250
• Closing costs: $13,470
• Reserves months: —
• Total cash needed: —

Listing history 5 events

1. 2026-04-28
   status Pending
2. 2026-03-01
   status Active
3. 2026-02-24
   status Pending
4. 2026-01-28
   listed $449,000 Active
5. 1998-02-27
   soldstatus $145,000

ⓘ 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: $13,787 · $1,149/mo
• Projected year-2 tax: $13,787 · $1,149/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 ≥100°F today · 14 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 5/10 Major 6 unhealthy d/yr today · 8 by 30 yrs out

Taxation est. · year 1

• Rental income: $73,620
• − Mortgage interest: −$25,151
• − Property taxes: −$13,787
• − Insurance: −$2,245
• − Repairs & maintenance: −$5,890
• − Management: −$5,890
• − Depreciation: −$13,062
• Taxable income: $7,596
• Est. tax owed @ 24.0%: −$1,823
• After-tax cash flow: $12,050/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: Maywood-Melrose Park-Broadview 89
• NCES district ID: 1725110
• Math proficiency: 14% ▲ 1.00%
• Reading proficiency: 21% ▲ 4.00%
• Median HH income: $45,567
• Composite: 18.75/100
• National rank: #14003
• State rank: #738 of 919 in IL

Livability — Maywood

• Score: 78/100
• State rank: #146
• US rank: #2694

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Maywood, IL
• County: Cook County · 4,486,803 people
• City population: 23,201
• Metro: Chicago-Naperville-Elgin, IL-IN-WI
• Population (ZIP): 23,201
• Household income: $68,815
• Rent vs Own: 40.0% rent · 60.0% own
• Severe rent burden: 869.0

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 0.56)
• Race & ethnicity: Black 57% Hispanic / Latino 33% Two or more races 11% White 6%
• Hispanic origin (detail): Mexican 28% Puerto Rican 3%
• Common ancestry: Romanian 1% British 1%
• Foreign-born: 14% · Canada, Jamaica
• Languages at home: 68% English-only · Spanish 30% French/Haitian/Cajun 2%

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: ▼ -86.90%
• Current HPI: 336.2159
• 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

+209.7% since first listed

5 events — show timeline

• 2026-04-28 Pending — MRED as Distributed by MLS Grid
• 2026-03-01 Relisted — MRED as Distributed by MLS Grid
• 2026-02-24 Pending — MRED as Distributed by MLS Grid
• 2026-01-28 Listed $449,000 MRED as Distributed by MLS Grid
• 1998-02-27 Sold (Public Records) $145,000 Public Records

Property tax history

+5.2%/yr

Latest (2023): $13,787 · -6.6% YoY. Source: county tax records.