15622 Millard Ave · Markham, IL 60428

$229,999

2 bd · 1.5 ba · 1,538 sqft · SingleFamily public records · 6 Days on market

Built 1940 Est $203k · 13% over

---

Why this score? — see what drove the D+ 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 +16.0/30.0
• Appreciation +10.0/10.0
• 1% rule +6.8/10.0
• DSCR +4.9/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +1.5/15.0
• Schools +1.5/10.0

Listing remarks MLS

Frame 2-Story which features four bedrooms, 1.1 bathrooms, side drive and large backyard. The property requires repairs to be made however this has the potential to be a great investment. This home is priced to sell!! Lot/room sizes estimated. Property is to be sold as is!!!

Key facts

• Renovated home
• Gorgeous new kitchen
• Large yard

Tags

• RENOVATED HOME
• UPDATED LIGHTING
• GORGEOUS NEW KITCHEN
• CONTEMPORARY CABINETRY
• STAINLESS STEEL APPLIANCES
• LARGE YARD

Property features AI

Finance

• Other: Located in Markham, Bremen township; Directions: 155th to Millard and south to subject
• HOA & community: No master association fee required

Exterior

• Parking: Attached garage (1 garage space; 1 total parking space); Owned garage
• Utilities: Public water; Public sewer
• Home design: Detached single-family home; 1.5-story residence; Fee simple ownership; Rehab completed in 2026; Estimated living area
• Construction: Built 81–90 years ago; Aluminum siding; Built before 1978
• Exterior features: Lot less than 0.25 acre; Lot dimensions: 7,980 sq ft; School bus service

Interior

• Kitchen: Kitchen (11 x 12 on main level)
• Bedrooms: Four bedrooms (Master: 12 x 12 on second level; Bedroom 2: 10 x 12 on second level; Bedroom 3: 10 x 9 on second level; Bedroom 4: 12 x 10 on second level)
• Bathrooms: One full bath; One half bath
• Heating & cooling: Electric heating; Central air conditioning
• Interior features: Seven total rooms; Crawl space basement
• Laundry & utility: Main-level laundry (5 x 7)

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath single-family listed at $230k.

Deal economics

• At list price, monthly cash flow is $113 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $230k).
• Cap rate 6.9% vs local median 10.2% in Markham — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

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; 4 comparable units currently listed for rent nearby; rentals leasing fast (median 8d on market — plan ~1-2 weeks tenant-placement turnaround); 6,272 units permitted in Cook County in 2024 (4,658 in 5+ unit buildings).

Forward outlook

• In year one you build about $25k of equity ($2k loan paydown + $23k appreciation (10.0% local appreciation)).
• At projected returns (10.0% appreciation + 3.0% rent growth), your $64k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$40k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 2y 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 $75k; list at $230k implies a 207% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 3.8% of price; built in 1940 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $229,999

Questions for the listing agent

1. Built in 1940 — 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. 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. 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?
7. 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.
8. 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.
9. 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: 1.18% ✓
• Cap rate: 6.88%
• Cash-on-cash: 2.11%
• DSCR: 1.09
• GRM: 7.1

CMA / ARV

• ARV (on-the-fly): $203,016
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
15749 Saint Louis Ave	0.38mi	3/2.5 (+1)	1,575 (+2%)	4mo	$225,000	$143	66
15450 Millard Ave	0.28mi	3/2.0 (+1)	1,435 (-7%)	5mo	$245,000	$171	64
16037 Springfield Ave	0.55mi	3/2.0 (+1)	1,566 (+2%)	3mo	$206,000	$132	62
15535 Homan Ave	0.51mi	3/2.0 (+1)	1,500 (-2%)	10mo	$242,000	$161	57
15256 Ridgeway Ave	0.60mi	3/1.5 (+1)	1,514 (-2%)	15mo	$250,000	$165	52
3830 Sunset Ave	0.48mi	3/1.0 (+1)	1,629 (+6%)	14mo	$165,000	$101	49
15412 Hamlin Ave	0.43mi	3/1.5 (+1)	1,711 (+11%)	10mo	$295,000	$172	47
15234 Millard Ave	0.66mi	3/1.5 (+1)	1,532 (-0%)	21mo	$163,000	$106	46
15830 Trumbull Ave	0.46mi	3/1.0 (+1)	1,639 (+7%)	20mo	$205,000	$125	44
15235 Lawndale Ave	0.67mi	3/1.5 (+1)	1,394 (-9%)	7mo	$175,000	$126	42
3417 W 161st St	0.70mi	3/1.0 (+1)	1,413 (-8%)	8mo	$77,500	$55	40
3336 W 161st St	0.74mi	3/1.0 (+1)	1,747 (+14%)	17mo	$55,000	$31	22

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: 25.8%
• Equity multiple: 3.06×
• Total profit: $132,772
• Equity at exit: $207,201

10-year hold

• IRR: 22.7%
• Equity multiple: 6.99×
• Total profit: $385,942
• Equity at exit: $446,837

Cash invested: $64,400 (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: 7.1×

Monthly cashflow live

• Estimated rent: $2,705 medium
• Mortgage (P&I): −$1,206
• Tax from tax record: −$722 /mo · $8,666/yr
• Insurance: −$96
• HOA: −$0
• Vacancy / Maint / Mgmt: −$568
• Net cashflow: $113

Break-even live

Break-even rent $2,562

Max offer price $229,999

Occupancy floor 91%

Sensitivity live

Price	-10% $243	-5% $178	+0% $113	+5% $48	+10% $-17
Rent	-10% $-101	-5% $6	+0% $113	+5% $220	+10% $327
Rate	-1.0pp $229	-0.5pp $172	base $113	+0.5pp $53	+1.0pp $-7

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: $57,500
• Closing costs: $6,900
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
16450 Roy St Oak Forest, IL	3.0	1.5	1500	$2,400	$1.60	18d	1	1.35mi
15544 Kilpatrick Ave Oak Forest, IL	2.0–3.0	2.5	1630	$2,995	$1.84	2d	2	1.36mi
4800 157th St Oak Forest, IL	2.0	2.5	2160	$2,795	$1.29	8d	1	1.47mi
4800 W 157th St Oak Forest, IL	1.0–2.0	1.0–2.0	1151	$2,660	$2.31	2d	3	1.47mi

Listing history 6 events

1. 2026-06-18
   days on market $229,999 Active 6 DOM
2. 2026-06-17
   days on market $229,999 Active 5 DOM
3. 2026-06-16
   days on market $229,999 Active 4 DOM
4. 2026-06-15
   days on market $229,999 Active 3 DOM
5. 2026-06-13
   remarks 699-char remark
6. 2026-06-13
   listed $229,999 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: $8,666 · $722/mo
• Projected year-2 tax: $8,666 · $722/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 ≥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: $32,464
• − Mortgage interest: −$12,884
• − Property taxes: −$8,666
• − Insurance: −$1,150
• − Repairs & maintenance: −$2,597
• − Management: −$2,597
• − Depreciation: −$6,691
• Taxable loss: −$2,121
• Est. tax savings @ 24.0%: +$509
• After-tax cash flow: $1,866/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

+283.3% since first listed

16 events — show timeline

• 2026-06-12 Listed $229,999 MRED as Distributed by MLS Grid
• 2026-04-13 Sold (Public Records) $75,000 Public Records
• 2026-04-07 Sold (MLS) $75,000 MRED as Distributed by MLS Grid
• 2025-09-08 Contingent — MRED as Distributed by MLS Grid
• 2025-06-27 Price Changed $79,900 MRED as Distributed by MLS Grid
• 2025-05-20 Price Changed $93,500 MRED as Distributed by MLS Grid
• 2025-05-08 Price Changed $104,500 MRED as Distributed by MLS Grid
• 2025-04-24 Price Changed $110,000 MRED as Distributed by MLS Grid
• 2025-04-08 Listed $120,000 MRED as Distributed by MLS Grid
• 2024-11-16 Contingent — MRED as Distributed by MLS Grid
• 2024-11-13 Listing Removed — MRED as Distributed by MLS Grid
• 2024-10-03 Price Changed — MRED as Distributed by MLS Grid
• 2024-09-09 Price Changed — MRED as Distributed by MLS Grid
• 2024-07-31 Listed — MRED as Distributed by MLS Grid
• 2008-03-12 Sold (Public Records) $60,000 Public Records
• 2001-10-12 Sold (Public Records) $60,000 Public Records

Property tax history

+6.3%/yr

Latest (2023): $8,666 · -7.9% YoY. Source: county tax records.