2815 Glenwood Lansing Rd #205 · Lynwood, IL 60411

$117,000

2 bd · 1.0 ba · 888 sqft · Condo · 64 Days on market

Built 1979 $253/mo HOA · 16% of rent

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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 +20.0/30.0
• 1% rule +8.4/10.0
• ARV discount +7.5/15.0
• DSCR +6.3/10.0
• Rent growth +4.1/5.0
• Livability +3.2/5.0
• Condition / age +2.5/5.0
• Schools +1.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Well maintained affordable move in condition 2nd floor condo with balcony. Carpets will be cleaned after owner moves out. Appliances stay stove, fridge, washer, dryer, dishwasher (all electric, no gas). Nice sized master bedroom with double closets. Covered assigned parking space (#12). Extra storage offered in common basement. Updated bath. Condo has flexicore floors. Sold As-Is. Wont last long!!

Key facts

• $253 HOA
• Parking
• Built 1979

Property features AI

Finance

• Other: 6 units in building; Living area source: Other; Not currently leased; Rebuilt or rehab: No; Subdivision: Willowshire; Municipality: Lynwood
• HOA & community: Association fee $253 monthly; Master association fee $438 monthly; Association covers water, insurance, exterior maintenance, lawn care, scavenger, and snow removal; No pets allowed

Exterior

• Parking: 1 assigned parking space
• Utilities: Water source: Lake Michigan; Public sewer
• Home design: Attached single condo; Entry level: 2; Condo ownership; School bus service available
• Construction: Brick construction; Building age: 41–50 years; Built before 1978: No
• Exterior features: Balcony; Common lot dimensions

Interior

• Kitchen: Range; Dishwasher; Refrigerator
• Bedrooms: Master bedroom on main level with full bath (15 x 10); Second bedroom on main level (10 x 11); Additional bedrooms
• Bathrooms: 1 full bathroom
• Heating & cooling: Electric heating; Central air conditioning
• Interior features: 5 total rooms; Unfinished full basement; Intercom
• Laundry & utility: In-unit laundry; Washer; Dryer

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $117k.

Deal economics

• At list price, monthly cash flow is $143 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $117k).
• Recommended offer: $110k (6.0% below list) — sets the bar for market timing.
• Cap rate 7.8% vs local median 3.5% in Lynwood — 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 65/100 on livability (#635 in IL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, employment A; Watch: schools F, amenities F, commute F.
• Thornton Fractional Twp Hsd 215 (suburban): math 9% / reading 13% proficiency, ranked #563 of 620 in IL (top 91%) — 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; 6 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 30% 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 $809 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 $33k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 64 days — a 6% lower offer ($110k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 14y ago; this cycle's ask has dropped $10k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $65k; list at $117k implies a 80% gain — meaningful room to come down on a strong offer.

Recommended offer $109,980 (6.0% below list)

Questions for the listing agent

1. It's been on market 64 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1979 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
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: 1.34% ✓
• Cap rate: 7.76%
• Cash-on-cash: 5.22%
• DSCR: 1.23
• GRM: 6.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 6.48% rent growth · sell at horizon

5-year hold

• IRR: -3.1%
• Equity multiple: 0.88×
• Total profit: $-4,013
• Equity at exit: $17,445

10-year hold

• IRR: 11.0%
• Equity multiple: 2.04×
• Total profit: $33,980
• Equity at exit: $10,116

Cash invested: $32,760 (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: 6.2×

Monthly cashflow live

• Estimated rent: $1,563 high
• Mortgage (P&I): −$614
• Tax from tax record: −$177 /mo · $2,126/yr
• Insurance: −$49
• HOA: −$253
• Vacancy / Maint / Mgmt: −$328
• Net cashflow: $143

Break-even live

Break-even rent $1,383

Max offer price $117,000

Occupancy floor 86%

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: $29,250
• Closing costs: $3,510
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
20067 Orchard Ave Lynwood, IL	3.0	1.0	1084	$2,200	$2.03	1d	1	0.78mi
20104 Willow Dr Lynwood, IL	2.0	1.0	1000	$1,600	$1.60	17d	1	0.85mi
18550 Torrence Ave #25 Lansing, IL	2.0	1.0	1000	$1,300	$1.30	11d	1	1.23mi
18440 Torrence Ave Lansing, IL	2.0	1.0	800	$1,200	$1.50	24d	1	1.33mi
18381 Torrence Ave Lansing, IL	2.0	1.0	900	$1,300	$1.44	24d	1	1.42mi
18361 Glen Oak Ave Unit 1E Lansing, IL	2.0	1.0	900	$1,400	$1.56	24d	1	1.42mi

HOA detail condo

• Monthly dues: $253 · $3,036/yr
• Likely covers: gaselectricparking
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 31 events

1. 2026-06-18
   days on market $117,000 Active 64 DOM
2. 2026-06-17
   days on market $117,000 Active 63 DOM
3. 2026-06-16
   days on market $117,000 Active 62 DOM
4. 2026-06-15
   days on market $117,000 Active 61 DOM
5. 2026-06-13
   days on market $117,000 Active 59 DOM
6. 2026-06-09
   days on market $117,000 Active 55 DOM
7. 2026-06-08
   days on market $117,000 Active 54 DOM
8. 2026-06-07
   days on market $117,000 Active 53 DOM
9. 2026-06-04
   days on market $117,000 Active 50 DOM
10. 2026-06-03
    days on market $117,000 Active 49 DOM
11. 2026-06-02
    days on market $117,000 Active 48 DOM
12. 2026-06-01
    days on market $117,000 Active 47 DOM
13. 2026-05-31
    days on market $117,000 Active 46 DOM
14. 2026-05-22
    price $117,000
15. 2026-05-09
    price $122,000
16. 2026-04-15
    listed $127,000 Active
17. 2021-05-26
    soldstatus $65,000
18. 2021-04-07
    soldstatus $65,000 Closed Sale 401-char remark

    Show marketing remark (401 chars)

    Well maintained affordable move in condition 2nd floor condo with balcony. Carpets will be cleaned after owner moves out. Appliances stay stove, fridge, washer, dryer, dishwasher (all electric, no gas). Nice sized master bedroom with double closets. Covered assigned parking space (#12). Extra storage offered in common basement. Updated bath. Condo has flexicore floors. Sold As-Is. Wont last long!!

19. 2021-03-03
    status Contingent (Do Not Show) 401-char remark

    Show marketing remark (401 chars)

    Well maintained affordable move in condition 2nd floor condo with balcony. Carpets will be cleaned after owner moves out. Appliances stay stove, fridge, washer, dryer, dishwasher (all electric, no gas). Nice sized master bedroom with double closets. Covered assigned parking space (#12). Extra storage offered in common basement. Updated bath. Condo has flexicore floors. Sold As-Is. Wont last long!!

20. 2021-01-11
    listed $65,000 New 401-char remark

    Show marketing remark (401 chars)

    Well maintained affordable move in condition 2nd floor condo with balcony. Carpets will be cleaned after owner moves out. Appliances stay stove, fridge, washer, dryer, dishwasher (all electric, no gas). Nice sized master bedroom with double closets. Covered assigned parking space (#12). Extra storage offered in common basement. Updated bath. Condo has flexicore floors. Sold As-Is. Wont last long!!

21. 2015-02-23
    soldstatus $29,000
22. 2015-02-17
    soldstatus $29,000 Closed Sale 369-char remark

    Show marketing remark (369 chars)

    SHORT SALE! Move in condition 2nd floor condo with balcony. All appliances to remain (all electric, no gas). Nice sized master bedroom with double closets. Covered parking space (#12) for your convenience. Extra storage offered in common basement. Hurry, don't miss out on this great unit! Costs less than renting! Updated bath. Condo has flexicore floors. Sold As-Is.

23. 2014-11-06
    status Contingent (Do Not Show) 369-char remark

    Show marketing remark (369 chars)

    SHORT SALE! Move in condition 2nd floor condo with balcony. All appliances to remain (all electric, no gas). Nice sized master bedroom with double closets. Covered parking space (#12) for your convenience. Extra storage offered in common basement. Hurry, don't miss out on this great unit! Costs less than renting! Updated bath. Condo has flexicore floors. Sold As-Is.

24. 2014-10-21
    price $30,000 369-char remark

    Show marketing remark (369 chars)

    SHORT SALE! Move in condition 2nd floor condo with balcony. All appliances to remain (all electric, no gas). Nice sized master bedroom with double closets. Covered parking space (#12) for your convenience. Extra storage offered in common basement. Hurry, don't miss out on this great unit! Costs less than renting! Updated bath. Condo has flexicore floors. Sold As-Is.

25. 2014-09-04
    listed $35,000 New 369-char remark

    Show marketing remark (369 chars)

    SHORT SALE! Move in condition 2nd floor condo with balcony. All appliances to remain (all electric, no gas). Nice sized master bedroom with double closets. Covered parking space (#12) for your convenience. Extra storage offered in common basement. Hurry, don't miss out on this great unit! Costs less than renting! Updated bath. Condo has flexicore floors. Sold As-Is.

26. 2013-01-04
    historical
27. 2013-01-04
    historical
28. 2012-08-06
    listed New
29. 2012-08-06
    listed $75,000
30. 2004-01-20
    soldstatus $76,000
31. 1988-08-01
    soldstatus $42,500

ⓘ 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: $2,126 · $177/mo
• Projected year-2 tax: $2,391 · $199/mo
• Expected delta: +$265/yr (+$22/mo · 12.4%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 21% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥102°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: $18,761
• − Mortgage interest: −$6,554
• − Property taxes: −$2,126
• − Insurance: −$585
• − Repairs & maintenance: −$1,501
• − Management: −$1,501
• − HOA: −$3,036
• − Depreciation: −$3,404
• Taxable income: $55
• Est. tax owed @ 24.0%: −$13
• After-tax cash flow: $1,698/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: Thornton Fractional Twp Hsd 215
• NCES district ID: 1738940
• Math proficiency: 9% ▼ -3.00%
• Reading proficiency: 13% ▼ -3.00%
• Median HH income: $48,207
• Composite: 10.27/100
• National rank: #9793
• State rank: #563 of 620 in IL

Livability — Lynwood

• Score: 65/100
• State rank: #635
• US rank: #12997

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lynwood, 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

+175.3% since first listed

18 events — show timeline

• 2026-05-22 Price Changed $117,000 MRED as Distributed by MLS Grid
• 2026-05-09 Price Changed $122,000 MRED as Distributed by MLS Grid
• 2026-04-15 Listed $127,000 MRED as Distributed by MLS Grid
• 2021-05-26 Sold (Public Records) $65,000 Public Records
• 2021-04-07 Sold (MLS) $65,000 MRED as Distributed by MLS Grid
• 2021-03-03 Pending — MRED as Distributed by MLS Grid
• 2021-01-11 Listed $65,000 MRED as Distributed by MLS Grid
• 2015-02-23 Sold (Public Records) $29,000 Public Records
• 2015-02-17 Sold (MLS) $29,000 MRED as Distributed by MLS Grid
• 2014-11-06 Pending — MRED as Distributed by MLS Grid
• 2014-10-21 Price Changed $30,000 MRED as Distributed by MLS Grid
• 2014-09-04 Listed $35,000 MRED as Distributed by MLS Grid
• 2013-01-04 Listing Removed — MRED as Distributed by MLS Grid
• 2013-01-04 Listing Removed — NIRA MLS as Distributed by MLS Grid
• 2012-08-06 Listed — MRED as Distributed by MLS Grid
• 2012-08-06 Listed $75,000 NIRA MLS as Distributed by MLS Grid
• 2004-01-20 Sold (Public Records) $76,000 Public Records
• 1988-08-01 Sold (Public Records) $42,500 Public Records

Property tax history

+2.6%/yr

Latest (2023): $2,126 · +18.1% YoY. Source: county tax records.