805 N 22nd Ave · Melrose Park, IL 60160

$879,700

12 bd · 6.0 ba · 5,655 sqft · MultiFamily public records · 167 Days on market

Built 1961 2,329 sqft lot

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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 +25.8/30.0
• DSCR +8.6/10.0
• ARV discount +7.5/15.0
• 1% rule +6.0/10.0
• Livability +3.8/5.0
• 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 (5+ Unit). Listing-text estimate: 6 units. confirmed

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks

Absolutely fabulous turn key 6 unit with tenants in all 6 units. All are 2 bedrooms except for one of the garden level units. Photos and 3-D tour are current as of 11/18. 4 of the units are recently refreshed. All units are rented and bringing in exceptional rents. Financials below are based off of the 2024 full year. Seller will replace the roof with an acceptable offer!

Key facts

• 2,329 sq ft lot
• Built 1961
• Listed 166 days

Property features AI

Finance

• Other: Parcel numbers on file
• Financial info: Total of 6 units; Total monthly income reported at $7,900; Unit rents reported: five units at approximately $1,300–$1,438; one unit at $800; Gross income reported at $80,961; Gross rent multiplier reported as 11; Reported expenses include water/sewer, trash, electric, and insurance

Exterior

• Parking: 1–5 outdoor parking spaces
• Utilities: Water and sewer service (water/sewer expenses reported); Electric service
• Home design: Multi-family (5+ units); Owned by an LLC; Zoned for multi-family
• Construction: Brick construction; Built before 1978
• Exterior features: Street parking and a very small lot next to the building

Interior

• Kitchen: Dishwashers (6 total); Ranges (6 total)
• Bedrooms: Five 2-bedroom units; One 1-bedroom unit
• Bathrooms: Five units with 1 full bathroom each; One unit with 1 full bathroom
• Heating & cooling: Central heat with individual controls; Hot water heat
• Interior features: Finished daylight basement with partial exposure
• Laundry & utility: Washer/dryer not leased

What this means for you Summary

Snapshot

• This is a 6 × 2-bed/1.0-bath units multifamily listed at $880k.

Deal economics

• At list price, monthly cash flow is $2k ($25k/yr) — positive. Per door: $354/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($10k rent vs $880k).
• Recommended offer: $774k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.2% vs local median 3.4% in Melrose Park — 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 (#174 in IL, #3,344 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, housing A+, cost of living A; Watch: health & safety D+, amenities 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: 16 active listings in the ZIP; 6,272 units permitted in Cook County in 2024 (4,658 in 5+ unit buildings).
• At $9,692/mo this rent would consume 176% of the median local household income ($66k/yr) (locally 636% 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 $6k of loan paydown is wiped out by about $26k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 167 days — a 12% lower offer ($774k) is reasonable based on typical stale-listing flexibility.
• 14 sale attempts since 17y ago 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 $325k; list at $880k implies a 171% gain — meaningful room to come down on a strong offer.

Recommended offer $774,136 (12.0% below list)

Questions for the listing agent

1. It's been on market 167 days. Have you received any prior offers? Is the seller open to a 12% 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 1961 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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.
9. 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.
10. 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: 1.10% ✓
• Cap rate: 9.19%
• Cash-on-cash: 10.34%
• DSCR: 1.46
• GRM: 7.6

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: -0.8%
• Equity multiple: 0.97×
• Total profit: $-7,507
• Equity at exit: $131,166

10-year hold

• IRR: 8.9%
• Equity multiple: 1.68×
• Total profit: $166,825
• Equity at exit: $76,060

Cash invested: $246,316 (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 60160

• Active inventory: 16
• Price-to-rent: 45.4×

Monthly cashflow live

• Estimated rent: $9,692 high
• Mortgage (P&I): −$4,613
• Tax from tax record: −$554 /mo · $6,644/yr
• Insurance: −$367
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,035
• Net cashflow: $2,123

Break-even live

Break-even rent $7,004

Max offer price $879,700

Occupancy floor 73%

Sensitivity live

Price	-10% $2,621	-5% $2,372	+0% $2,123	+5% $1,874	+10% $1,625
Rent	-10% $1,358	-5% $1,740	+0% $2,123	+5% $2,506	+10% $2,889
Rate	-1.0pp $2,566	-0.5pp $2,347	base $2,123	+0.5pp $1,895	+1.0pp $1,663

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

Units	Beds	Baths	Est. rent
▸ 6× units	2	1	$9,690
Total (6 units)			$9,692

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: $219,925
• Closing costs: $26,391
• Reserves months: —
• Total cash needed: —

Listing history 50 events

1. 2026-06-21
   days on market $879,700 Active 167 DOM
2. 2026-06-18
   days on market $879,700 Active 164 DOM
3. 2026-06-17
   days on market $879,700 Active 163 DOM
4. 2026-06-16
   days on market $879,700 Active 162 DOM
5. 2026-06-15
   days on market $879,700 Active 161 DOM
6. 2026-06-13
   days on market $879,700 Active 159 DOM
7. 2026-06-13
   remarks 374-char remark
8. 2026-06-13
   days on market $879,700 Active 158 DOM
9. 2026-06-09
   days on market $879,700 Active 155 DOM
10. 2026-06-08
    days on market $879,700 Active 154 DOM
11. 2026-06-07
    days on market $879,700 Active 153 DOM
12. 2026-06-04
    days on market $879,700 Active 150 DOM
13. 2026-06-03
    days on market $879,700 Active 149 DOM
14. 2026-06-02
    days on market $879,700 Active 148 DOM
15. 2026-06-01
    days on market $879,700 Active 147 DOM
16. 2026-05-31
    days on market $879,700 Active 146 DOM
17. 2026-02-14
    price $879,700
18. 2026-02-13
    status Active
19. 2026-02-06
    historical Contingent - Continue to Show
20. 2026-01-05
    listed $899,700 Active
21. 2026-01-05
    historical
22. 2025-08-04
    listed Active
23. 2025-08-04
    historical
24. 2025-05-02
    listed Active
25. 2025-05-02
    historical
26. 2025-04-21
    status Active
27. 2025-04-06
    historical Contingent - Continue to Show
28. 2024-12-11
    listed Active
29. 2024-09-14
    historical $1,400
30. 2024-09-05
    listed $1,400
31. 2024-09-05
    historical $1,400
32. 2024-08-18
    listed $1,400
33. 2024-08-10
    historical $1,400
34. 2024-08-06
    listed $1,400
35. 2024-08-01
    historical $1,400
36. 2024-07-05
    listed $1,400
37. 2024-02-23
    historical $1,400
38. 2024-01-17
    listed $1,400
39. 2016-02-02
    soldstatus $325,000
40. 2013-08-07
    historical
41. 2013-08-06
    price Price Change
42. 2013-04-11
    price Price Change
43. 2013-02-11
    price Price Change
44. 2013-02-08
    status Back On Market
45. 2013-02-08
    historical
46. 2012-11-02
    price Price Change
47. 2012-07-30
    listed New
48. 2010-10-26
    historical
49. 2010-05-26
    price Price Change
50. 2009-09-27
    listed New

ⓘ 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: $6,644 · $554/mo
• Projected year-2 tax: $13,306 · $1,109/mo
• Expected delta: +$6,663/yr (+$555/mo · 100.3%)

ⓘ 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 ≥101°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 6 unhealthy d/yr today · 7 by 30 yrs out

Taxation est. · year 1

• Rental income: $116,304
• − Mortgage interest: −$49,277
• − Property taxes: −$6,644
• − Insurance: −$4,398
• − Repairs & maintenance: −$9,304
• − Management: −$9,304
• − Depreciation: −$25,591
• Taxable income: $11,785
• Est. tax owed @ 24.0%: −$2,828
• After-tax cash flow: $22,651/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 — Melrose Park

• Score: 76/100
• State rank: #174
• US rank: #3344

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Melrose Park, IL
• County: Cook County · 4,486,803 people
• City population: 24,549
• Metro: Chicago-Naperville-Elgin, IL-IN-WI
• Population (ZIP): 24,549
• Household income: $66,189
• Rent vs Own: 43.3% rent · 56.7% own
• Severe rent burden: 636.0

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 (78%)
• Race & ethnicity: Hispanic / Latino 78% Two or more races 27% White 17% Black 4%
• Hispanic origin (detail): Mexican 62% Puerto Rican 8% Cuban 2%
• Common ancestry: Romanian 2%
• Foreign-born: 34% · Canada, Jamaica
• Languages at home: 27% English-only · Spanish 69% Other Indo-European 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: ▼ -134.67%
• Current HPI: 191.2651
• 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

+309.2% since first listed

35 events — show timeline

• 2026-02-14 Price Changed $879,700 MRED as Distributed by MLS Grid
• 2026-02-13 Relisted — MRED as Distributed by MLS Grid
• 2026-02-06 Contingent — MRED as Distributed by MLS Grid
• 2026-01-05 Listing Removed — MRED as Distributed by MLS Grid
• 2026-01-05 Listed $899,700 MRED as Distributed by MLS Grid
• 2025-08-04 Listing Removed — MRED as Distributed by MLS Grid
• 2025-08-04 Listed — MRED as Distributed by MLS Grid
• 2025-05-02 Listing Removed — MRED as Distributed by MLS Grid
• 2025-05-02 Listed — MRED as Distributed by MLS Grid
• 2025-04-21 Relisted — MRED as Distributed by MLS Grid
• 2025-04-06 Contingent — MRED as Distributed by MLS Grid
• 2024-12-11 Listed — MRED as Distributed by MLS Grid
• 2024-09-14 Rental Removed $1,400 RENTALBEAST
• 2024-09-05 Listed for Rent $1,400 RENTALBEAST
• 2024-09-05 Rental Removed $1,400 LEASESTAR
• 2024-08-18 Listed for Rent $1,400 LEASESTAR
• 2024-08-10 Rental Removed $1,400 LEASESTAR
• 2024-08-06 Listed for Rent $1,400 LEASESTAR
• 2024-08-01 Rental Removed $1,400 LEASESTAR
• 2024-07-05 Listed for Rent $1,400 LEASESTAR
• 2024-02-23 Rental Removed $1,400 LEASESTAR
• 2024-01-17 Listed for Rent $1,400 LEASESTAR
• 2016-02-02 Sold (Public Records) $325,000 Public Records
• 2013-08-07 Listing Removed — MRED as Distributed by MLS Grid
• 2013-08-06 Price Changed — MRED as Distributed by MLS Grid
• 2013-04-11 Price Changed — MRED as Distributed by MLS Grid
• 2013-02-11 Price Changed — MRED as Distributed by MLS Grid
• 2013-02-08 Relisted — MRED as Distributed by MLS Grid
• 2013-02-08 Listing Removed — MRED as Distributed by MLS Grid
• 2012-11-02 Price Changed — MRED as Distributed by MLS Grid
• 2012-07-30 Listed — MRED as Distributed by MLS Grid
• 2010-10-26 Listing Removed — MRED as Distributed by MLS Grid
• 2010-05-26 Price Changed — MRED as Distributed by MLS Grid
• 2009-09-27 Listed — MRED as Distributed by MLS Grid
• 1990-01-24 Sold (Public Records) $215,000 Public Records

Property tax history

+1.8%/yr

Latest (2023): $6,644 · +10.7% YoY. Source: county tax records.