5330 S 73rd Ct · Summit, IL 60501

$575,000

8 bd · 4.0 ba · — sqft · MultiFamily · 16 Days on market

Built 1963 Good condition 4,411 sqft lot

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Why this score? — see what drove the F 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).

• ARV discount +7.5/15.0
• Cash flow +4.9/30.0
• Condition / age +3.8/5.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Schools +1.8/10.0
• 1% rule +0.7/10.0
• DSCR +0.0/10.0
• Appreciation +0.0/10.0

Multi-family units

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

Listing remarks

TURNKEY CASH-FLOW MACHINE: INVESTOR OR OWNER-OCCUPANT DREAM IN PRIME SUMMIT! Stop fighting heavy renovation costs and add an immediate, stabilized performer to your portfolio. Units are occupied with steady tenants on active leases generating day-one cash flow. One unit can be delivered VACANT at the end of June. This is a massive advantage: perfect for an owner-occupant looking to "house hack" (live in one, let the others tenant cover the mortgage), or for an investor ready to instantly place a new tenant at top-of-market rent to maximize the Cap Rate. Coin-operated Washer and Dryer for extra income. Solid, low-maintenance brick structure situated in a high-demand rental marke

Key facts

• Turnkey asset
• Cash-flowing
• Unbeatable access

Tags

• CASH-FLOWING
• TURNKEY ASSET
• COIN OPERATED WASHER AND DRYER
• HIGH-DEMAND RENTAL MARKET
• EXCELLENT LOCATION
• UNBEATABLE ACCESS

Property features AI

Finance

• Other: 4 units in the building
• Financial info: Gross annual income reported at $61,260

Exterior

• Parking: 4 parking spaces total; Assigned parking; Off-street parking
• Utilities: Water from Lake Michigan and public supply; Public sewer
• Home design: Two- to four-unit building; Fee simple ownership; Built 61–70 years ago; Built before 1978
• Construction: Vinyl siding and brick exterior
• Exterior features: Lot dimensions approximately 122.95' x 35.88'; Lot roughly 0.25–0.49 acre

Interior

• Kitchen: Stove; Refrigerator
• Bedrooms: 7 bedrooms total
• Bathrooms: 4 full bathrooms
• Heating & cooling: Natural gas heating; Window air conditioners in some units
• Interior features: 15 total rooms; Crawl space basement; Gas water heater
• Laundry & utility: Tenants pay electric and gas (where applicable)

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $575k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-1k ($-17k/yr) — negative. Per door: $-690/mo.
• To cash-flow at today's rent, offer at most $375k (34.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $328k (42.9% below list).
• Recommended offer: $328k (42.9% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 74/100 on livability (#250 in IL, #4,648 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: health & safety C-, employment D+, crime D.
• Argo Chsd 217 (suburban): math 20% / reading 20% proficiency, ranked #423 of 620 in IL (top 68%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 14 active listings in the ZIP; 6,272 units permitted in Cook County in 2024 (4,658 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $4k of loan paydown is wiped out by about $17k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 16 days — a 2% lower offer ($566k) is reasonable based on typical stale-listing flexibility.

Recommended offer $328,200 (42.9% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
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 1963 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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?
8. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
9. 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.
10. 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.
11. 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: 0.57% ✗
• Cap rate: 3.41%
• Cash-on-cash: -10.29%
• DSCR: 0.54
• GRM: 14.6

CMA / ARV

No comps found within radius.

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5211 S 73rd Ct	0.09mi	7/4.0 (-1)	—	10mo	$490,000	—	70
7224 Park Ave	0.18mi	7/4.0 (-1)	—	14mo	$450,000	—	63
5307 S 73rd Ct	0.05mi	7/4.0 (-1)	—	21mo	$425,000	—	62
7222 Park Ave	0.18mi	7/3.0 (-1)	—	12mo	$420,000	—	60

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -34.9%
• Equity multiple: -0.12×
• Total profit: $-181,076
• Equity at exit: $85,734

10-year hold

• IRR: -45.5%
• Equity multiple: -0.68×
• Total profit: $-270,728
• Equity at exit: $49,715

Cash invested: $161,000 (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 60501

• Home prices YoY: -26.3%
• Active inventory: 14
• Price-to-rent: 29.2×

Monthly cashflow live

• Estimated rent: $3,282 high
• Mortgage (P&I): −$3,015
• Tax est. 1.5%: −$719 /mo · $8,625/yr
• Insurance: −$240
• HOA: −$0
• Vacancy / Maint / Mgmt: −$689
• Net cashflow: $-1,381

Break-even live

Break-even rent $5,030

Max offer price $375,179

Occupancy floor —

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$3,282
Total (2 units)			$3,282

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: $143,750
• Closing costs: $17,250
• Reserves months: —
• Total cash needed: —

Listing history 9 events

1. 2026-06-18
   days on market $575,000 Active 16 DOM
2. 2026-06-17
   days on market $575,000 Active 15 DOM
3. 2026-06-16
   days on market $575,000 Active 14 DOM
4. 2026-06-15
   days on market $575,000 Active 13 DOM
5. 2026-06-13
   days on market $575,000 Active 11 DOM
6. 2026-06-09
   days on market $575,000 Active 7 DOM
7. 2026-06-08
   days on market $575,000 Active 6 DOM
8. 2026-06-07
   remarks 689-char remark
9. 2026-06-07
   listed $575,000 Active 5 DOM

ⓘ 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 ≥100°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 3 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $39,384
• − Mortgage interest: −$32,209
• − Property taxes: −$8,625
• − Insurance: −$2,875
• − Repairs & maintenance: −$3,151
• − Management: −$3,151
• − Depreciation: −$16,727
• Taxable loss: −$27,354
• Est. tax savings @ 24.0%: +$6,565
• After-tax cash flow: $-10,006/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.

Condition & rehab AI · 13 photos

Good 75/100 Cosmetic rehab

This multi-family property is in good condition with minimal repairs needed. Fresh paint and maintaining the landscaping would significantly enhance its curb appeal and value.

Value-add opportunities

• Both Paint exterior — Fresh paint enhances curb appeal and value
• Both Landscaping — Well-maintained landscaping improves curb appeal and rental value

Renovation cost estimate screening

Value-add ROI direction

• Both Paint exterior — Fresh paint enhances curb appeal and value ↑
• Both Landscaping — Well-maintained landscaping improves curb appeal and rental value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Argo Chsd 217
• NCES district ID: 1704020
• Math proficiency: 20% ▼ -7.00%
• Reading proficiency: 20% ▼ -6.00%
• Median HH income: $47,451
• Composite: 17.68/100
• National rank: #9026
• State rank: #423 of 620 in IL

Livability — Summit

• Score: 74/100
• State rank: #250
• US rank: #4648

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Summit, IL
• Population (ZIP): 11,490

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 (74%)
• Race & ethnicity: Hispanic / Latino 74% Two or more races 23% White 14% Black 7% Asian 3% Native American 2%
• Hispanic origin (detail): Mexican 67% Puerto Rican 2%
• Common ancestry: Romanian 4% Danish 1% Armenian 1%
• Foreign-born: 41% · Canada, South Korea
• Languages at home: 30% English-only · Spanish 63% Other Indo-European 3% Russian/Polish/Slavic 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: ▼ -96.97%
• Current HPI: 271.3104
• 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