2924 224th Pl · Sauk Village, IL 60411

$120,000

3 bd · 1.5 ba · 912 sqft · SingleFamily public records · 9 Days on market

Built 1971 7,500 sqft lot Est $154k · 22% under

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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 +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Rent growth +4.1/5.0
• Livability +3.3/5.0
• Condition / age +2.5/5.0
• Schools +0.7/10.0
• Appreciation +0.0/10.0

Listing remarks

Need a project? Come check this one out. Great bones, minimial work needed on the interior. Great summer project. Good for a rental or flip. Get it before the contractor can get to the project. Being sold as-is. Buyer responsible for all village requirements.

Key facts

• 7,500 sq ft lot
• 2 garage spots
• Listed 8 days

Property features AI

Finance

• HOA & community: No master association fee required

Exterior

• Parking: Detached garage (owned) on asphalt driveway; 2 total parking spaces, 2 garage spaces
• Utilities: Public water and shared well; Public sewer and storm sewer; Electric and gas service (natural gas heating)
• Home design: Detached single-family home; Tri-level / split-level design; Fee simple ownership
• Construction: Built before 1978; Steel siding and wood siding exterior; Asphalt roof; Concrete perimeter foundation
• Exterior features: Lot approximately 50 x 150; Lot less than 0.25 acre; School bus service, commuter bus access, interstate access

Interior

• Kitchen: Kitchen on main level
• Bedrooms: 4 bedrooms (Master and two bedrooms on second level, one bedroom on lower level)
• Flooring: Luxury vinyl flooring in main living areas, kitchen, living room, master and two upstairs bedrooms; Vinyl flooring in lower-level bedroom, family room and laundry
• Bathrooms: 1 full bathroom; 1 half bathroom; Basement includes a bathroom
• Heating & cooling: Natural gas heating
• Interior features: Finished partial basement with crawl space; 7 total rooms
• Laundry & utility: Laundry room on lower level

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $120k.

Deal economics

• At list price, monthly cash flow is $476 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $120k).
• Cap rate 11.1% vs local median 8.2% in Sauk Village — 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 66/100 on livability (#546 in IL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: crime C-, health & safety D+, commute D.
• Bloom Twp Hsd 206 (suburban): math 8% / reading 9% proficiency, ranked #591 of 620 in IL (top 95%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: Rents rising fast (+6.5%/yr); 222 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 6,272 units permitted in Cook County in 2024 (4,658 in 5+ unit buildings).
• This rent runs 36% of the median local income ($62k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $830 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 6.5% rent growth), your $34k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.
• 7 sale attempts since 19y 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 $64k; list at $120k implies a 88% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 3.0% of price.

Recommended offer $120,000

Questions for the listing agent

1. Built in 1971 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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. 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.
6. 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.
7. 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: 1.53% ✓
• Cap rate: 11.06%
• Cash-on-cash: 17.02%
• DSCR: 1.76
• GRM: 5.4

CMA / ARV

• ARV (on-the-fly): $154,128
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
22226 Brookwood Dr	0.25mi	3/1.0	918 (+1%)	6mo	$165,000	$180	80
22233 Peach Tree Ave	0.24mi	3/1.0	904 (-1%)	8mo	$155,000	$171	79
22657 Brookwood Dr	0.25mi	3/1.5	904 (-1%)	11mo	$182,000	$201	78
22116 Brookwood Dr	0.40mi	3/1.0	918 (+1%)	6mo	$162,000	$176	73
2937 Peachtree Ave	0.36mi	3/1.5	904 (-1%)	12mo	$199,999	$221	71
22636 Theodore Ave	0.20mi	4/1.5 (+1)	865 (-5%)	8mo	$120,000	$139	70
2836 223rd St	0.19mi	4/1.0 (+1)	975 (+7%)	3mo	$165,000	$169	70
22601 Theodore Ave	0.13mi	3/1.0	1,000 (+10%)	9mo	$160,000	$160	68
22239 Peach Tree Ave	0.23mi	3/1.0	1,000 (+10%)	8mo	$77,000	$77	64
2522 Orion Ave	0.62mi	2/1.0 (-1)	894 (-2%)	6mo	$61,790	$69	56
2916 Nichols Dr	0.31mi	3/1.5	1,031 (+13%)	11mo	$169,900	$165	55
22333 Yates Ave	0.69mi	3/1.0	918 (+1%)	14mo	$140,000	$153	53

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 · 6.48% rent growth · sell at horizon

5-year hold

• IRR: 12.6%
• Equity multiple: 1.53×
• Total profit: $17,685
• Equity at exit: $17,892

10-year hold

• IRR: 24.4%
• Equity multiple: 3.51×
• Total profit: $84,343
• Equity at exit: $10,375

Cash invested: $33,600 (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 60411

• Home prices YoY: -33.9%
• Rents YoY: 6.5%
• Active inventory: 222
• Price-to-rent: 5.4×

Monthly cashflow live

• Estimated rent: $1,840 medium
• Mortgage (P&I): −$629
• Tax from tax record: −$298 /mo · $3,572/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$386
• Net cashflow: $476

Break-even live

Break-even rent $1,237

Max offer price $120,000

Occupancy floor 69%

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: $30,000
• Closing costs: $3,600
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2236 220th St Sauk Village, IL	3.0	1.0	1008	$1,800	$1.79	24d	1	0.84mi
22332 Clyde Ave Sauk Village, IL	3.0	1.0	925	$1,800	$1.95	24d	1	0.99mi
22340 Chappel Ave Sauk Village, IL	3.0	1.0	1100	$1,800	$1.64	19d	1	1.04mi
21538 Gailine Ave Chicago Heights, IL	3.0	1.0	1031	$1,600	$1.55	3d	1	1.41mi

Listing history 8 events

1. 2026-06-18
   days on market $120,000 Active 9 DOM
2. 2026-06-17
   days on market $120,000 Active 8 DOM
3. 2026-06-16
   days on market $120,000 Active 7 DOM
4. 2026-06-15
   days on market $120,000 Active 6 DOM
5. 2026-06-13
   days on market $120,000 Active 4 DOM
6. 2026-06-13
   days on market $120,000 Active 3 DOM
7. 2026-06-10
   remarks 260-char remark
8. 2026-06-10
   listed $120,000 Active 1 DOM

ⓘ 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: $3,572 · $298/mo
• Projected year-2 tax: $3,572 · $298/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 2/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥101°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 0% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,077
• − Mortgage interest: −$6,722
• − Property taxes: −$3,572
• − Insurance: −$600
• − Repairs & maintenance: −$1,766
• − Management: −$1,766
• − Depreciation: −$3,491
• Taxable income: $4,160
• Est. tax owed @ 24.0%: −$998
• After-tax cash flow: $4,719/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: Bloom Twp Hsd 206
• NCES district ID: 1706420
• Math proficiency: 8% ▼ -3.00%
• Reading proficiency: 9% ▼ -8.00%
• Median HH income: $39,795
• Composite: 7.4/100
• National rank: #9952
• State rank: #591 of 620 in IL

Livability — Sauk Village

• Score: 66/100
• State rank: #546
• US rank: #11370

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Sauk Village, IL
• County: Cook County · 4,486,803 people
• Metro: Chicago-Naperville-Elgin, IL-IN-WI
• Population (ZIP): 52,175
• Household income: $62,073
• Rent vs Own: 34.8% rent · 65.2% own
• Severe rent burden: 1714.0

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 0.66)
• Race & ethnicity: Black 49% Hispanic / Latino 26% White 19% Two or more races 11%
• Hispanic origin (detail): Mexican 22% Puerto Rican 2%
• Common ancestry: Romanian 4% Portuguese 1% Lithuanian 1%
• Foreign-born: 12% · Canada
• Languages at home: 76% English-only · Spanish 21% Russian/Polish/Slavic 1% Other Indo-European 1%

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: ▼ -108.75%
• Current HPI: 212.4058
• Rent YoY: ▲ 6.48%
• 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

+189.2% since first listed

20 events — show timeline

• 2026-06-09 Listed $120,000 MRED as Distributed by MLS Grid
• 2025-04-01 Rental Removed $1,800 YOUGOTLISTINGS
• 2025-03-20 Listed for Rent $1,800 YOUGOTLISTINGS
• 2025-03-18 Rental Removed $1,800 MRED
• 2025-01-24 Listed for Rent $1,800 MRED
• 2024-12-07 Rental Removed $1,800 LISTANZA
• 2024-12-07 Rental Removed $1,800 YOUGOTLISTINGS
• 2024-12-07 Listed for Rent $1,800 LISTANZA
• 2024-12-07 Listed for Rent $1,800 YOUGOTLISTINGS
• 2020-02-14 Sold (Public Records) $63,884 Public Records
• 2017-11-20 Sold (Public Records) $45,500 Public Records
• 2008-10-29 Listing Removed — MRED as Distributed by MLS Grid
• 2008-10-21 Price Changed — MRED as Distributed by MLS Grid
• 2008-09-30 Price Changed — MRED as Distributed by MLS Grid
• 2008-08-26 Listed — MRED as Distributed by MLS Grid
• 2008-07-08 Listing Removed — MRED as Distributed by MLS Grid
• 2007-07-20 Listed — MRED as Distributed by MLS Grid
• 2003-03-07 Sold (Public Records) $103,000 Public Records
• 1990-01-01 Sold (Public Records) $54,900 Public Records
• 1983-03-01 Sold (Public Records) $41,500 Public Records

Property tax history

+2.8%/yr

Latest (2023): $3,572 · +20.3% YoY. Source: county tax records.