16236 Spaulding Ave · Markham, IL 60428

$220,000

3 bd · 1.5 ba · 1,240 sqft · SingleFamily public records · 106 Days on market

Built 1954 7,980 sqft lot Est $169k · 30% over

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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 +13.4/30.0
• Appreciation +10.0/10.0
• 1% rule +5.5/10.0
• DSCR +4.0/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.5/10.0
• ARV discount +0.0/15.0

Listing remarks MLS

Welcome to your dream home nestled in a quiet neighborhood! This charming 5-bedroom, 1.5-bathroom ranch house offers comfort and convenience in every corner. As you step inside, you'll be greeted by a spacious and inviting living space, perfect for both relaxation and entertaining guests. The kitchen boasts ample cabinet space, ideal for culinary enthusiasts, and it flows seamlessly into the dining area, creating a warm and welcoming atmosphere for family meals. With five bedrooms, there's plenty of room for everyone to enjoy their own space and privacy. The master bedroom features a half bathroom for added convenience, while the remaining bedrooms offer versatility to accommodate guests, a home office, or hobbies. You'll appreciate the recent upgrades this home has to offer, including a new roof installed just three years ago, ensuring peace of mind and protection from the elements for years to come. Additionally, the furnace and AC unit are only four years old, providing efficient climate control for comfort throughout every season. Outside, the property boasts a spacious yard, perfect for outdoor activities, gardening, or simply soaking up the sunshine in your own private oasis. Whether you're hosting summer barbecues or enjoying a quiet evening under the stars, this backyard is sure to become your favorite retreat. Don't miss your opportunity to make this delightful ranch house your new home. Schedule a showing today and experience the perfect blend of comfort, convenience, and tranquility! Property Sold As Is

Key facts

• 7,980 sq ft lot
• Built 1954
• Listed 106 days

Property features AI

Finance

• Other: Parcel number: 28232290300000
• HOA & community: No master association fee required

Exterior

• Parking: Asphalt parking
• Utilities: Water from Lake Michigan and public supply; Sewer: public sewer and mechanical septic options; Power: standard public utilities
• Home design: Detached single-family home; One-story layout; Fee simple ownership; Estimated living area; Built before 1978 (frame construction)
• Construction: Frame construction; Estimated age: 71–80 years; Not rebuilt or rehabilitated
• Exterior features: Lot dimensions approx. 60 x 133; Lot smaller than 0.25 acre

Interior

• Kitchen: Kitchen on main level (approx. 11 x 8)
• Bedrooms: Five bedrooms (all on the main level) — sizes include: Master 17 x 15; two bedrooms 11 x 10; one bedroom 9 x 17; one bedroom 9 x 9
• Bathrooms: One full bathroom; One half bathroom
• Heating & cooling: Natural gas heating; Central air conditioning
• Interior features: Seven total rooms; Property currently leased
• Laundry & utility: Main-level laundry room (approx. 5 x 9)

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $220k.

Deal economics

• At list price, monthly cash flow is $6 ($68/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $220k).
• Recommended offer: $200k (9.0% below list) — sets the bar for market timing.
• Cap rate 6.3% 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.
• Zoned schools: Bremen High School (math 8% / reading 11%, grade F, #577 of 693 statewide, top 84%, 1,497 students, 0% FRL).
• Market conditions: 65 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 1d 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 $24k of equity ($2k loan paydown + $22k appreciation (10.0% local appreciation)).
• At projected returns (10.0% appreciation + 3.0% rent growth), your $62k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$38k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 106 days — a 9% lower offer ($200k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 2y ago; this cycle's ask is 6380% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $179k; 23% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: property tax is 3.2% of price; built in 1954 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $200,200 (9.0% below list)

Questions for the listing agent

1. It's been on market 106 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1954 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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 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: 1.05% ✓
• Cap rate: 6.32%
• Cash-on-cash: 0.11%
• DSCR: 1.00
• GRM: 7.9

CMA / ARV

• ARV (on-the-fly): $168,640
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
16302 Trumbull Ave	0.20mi	3/1.0	1,260 (+2%)	2mo	$139,900	$111	84
16030 Saint Louis Ave	0.36mi	3/1.5	1,228 (-1%)	3mo	$200,000	$163	79
16516 Turner Ave	0.34mi	3/1.0	1,200 (-3%)	2mo	$70,000	$58	75
16641 Sawyer Ave	0.51mi	4/1.5 (+1)	1,260 (+2%)	3mo	$188,000	$149	66
15823 S Saint Louis Ave	0.58mi	3/2.0	1,203 (-3%)	4mo	$220,000	$183	63
16213 Saint Louis Ave	0.23mi	3/1.0	1,060 (-14%)	2mo	$55,000	$52	62
16202 Saint Louis Ave	0.26mi	3/1.0	1,060 (-14%)	2mo	$129,900	$123	60
3737 Rose Manor Ter	0.65mi	2/1.0 (-1)	1,210 (-2%)	0mo	$165,000	$136	59
3417 W 161st St	0.24mi	3/1.0	1,413 (+14%)	8mo	$77,500	$55	57
16426 Homan Ave	0.26mi	3/3.0	1,419 (+14%)	6mo	$190,000	$134	52
16364 California Ave	0.65mi	3/1.5	1,133 (-9%)	5mo	$160,000	$141	51
16101 Richmond Ave	0.58mi	3/1.0	1,100 (-11%)	8mo	$172,000	$156	46

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: 24.4%
• Equity multiple: 2.95×
• Total profit: $120,402
• Equity at exit: $198,193

10-year hold

• IRR: 21.6%
• Equity multiple: 6.76×
• Total profit: $354,718
• Equity at exit: $427,412

Cash invested: $61,600 (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 60428

• Home prices YoY: 8.5%
• Active inventory: 65
• Price-to-rent: 7.9×

Monthly cashflow live

• Estimated rent: $2,315 medium
• Mortgage (P&I): −$1,154
• Tax from tax record: −$578 /mo · $6,933/yr
• Insurance: −$92
• HOA: −$0
• Vacancy / Maint / Mgmt: −$486
• Net cashflow: $6

Break-even live

Break-even rent $2,308

Max offer price $220,000

Occupancy floor 95%

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: $55,000
• Closing costs: $6,600
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
16752 Artesian Ave Hazel Crest, IL	3.0	1.0	867	$2,500	$2.88	1d	1	1.23mi
16901 Orchard Ridge Ave Hazel Crest, IL	4.0	2.0	1406	$2,700	$1.92	1d	1	1.45mi
16751 Crane Ave Hazel Crest, IL	3.0	1.0	1200	$1,800	$1.50	1d	1	1.47mi

Listing history 22 events

1. 2026-06-18
   days on market $220,000 Active 106 DOM
2. 2026-06-17
   days on market $220,000 Active 105 DOM
3. 2026-06-16
   days on market $220,000 Active 104 DOM
4. 2026-06-15
   days on market $220,000 Active 103 DOM
5. 2026-06-13
   days on market $220,000 Active 101 DOM
6. 2026-06-09
   days on market $220,000 Active 97 DOM
7. 2026-06-08
   days on market $220,000 Active 96 DOM
8. 2026-06-07
   days on market $220,000 Active 95 DOM
9. 2026-06-04
   days on market $220,000 Active 92 DOM
10. 2026-06-03
    days on market $220,000 Active 91 DOM
11. 2026-06-02
    days on market $220,000 Active 90 DOM
12. 2026-06-01
    days on market $220,000 Active 89 DOM
13. 2026-05-31
    days on market $220,000 Active 88 DOM
14. 2024-09-07
    historical $3,395
15. 2024-07-04
    listed $3,395
16. 2024-06-17
    soldstatus $179,000
17. 2024-06-06
    soldstatus $179,000 Closed 1555-char remark

    Show marketing remark (1555 chars)

    Welcome to your dream home nestled in a quiet neighborhood! This charming 5-bedroom, 1.5-bathroom ranch house offers comfort and convenience in every corner. As you step inside, you'll be greeted by a spacious and inviting living space, perfect for both relaxation and entertaining guests. The kitchen boasts ample cabinet space, ideal for culinary enthusiasts, and it flows seamlessly into the dining area, creating a warm and welcoming atmosphere for family meals. With five bedrooms, there's plenty of room for everyone to enjoy their own space and privacy. The master bedroom features a half bathroom for added convenience, while the remaining bedrooms offer versatility to accommodate guests, a home office, or hobbies. You'll appreciate the recent upgrades this home has to offer, including a new roof installed just three years ago, ensuring peace of mind and protection from the elements for years to come. Additionally, the furnace and AC unit are only four years old, providing efficient climate control for comfort throughout every season. Outside, the property boasts a spacious yard, perfect for outdoor activities, gardening, or simply soaking up the sunshine in your own private oasis. Whether you're hosting summer barbecues or enjoying a quiet evening under the stars, this backyard is sure to become your favorite retreat. Don't miss your opportunity to make this delightful ranch house your new home. Schedule a showing today and experience the perfect blend of comfort, convenience, and tranquility! Property Sold As Is

18. 2024-04-26
    historical Contingent - No Showings 1555-char remark

    Show marketing remark (1555 chars)

    Welcome to your dream home nestled in a quiet neighborhood! This charming 5-bedroom, 1.5-bathroom ranch house offers comfort and convenience in every corner. As you step inside, you'll be greeted by a spacious and inviting living space, perfect for both relaxation and entertaining guests. The kitchen boasts ample cabinet space, ideal for culinary enthusiasts, and it flows seamlessly into the dining area, creating a warm and welcoming atmosphere for family meals. With five bedrooms, there's plenty of room for everyone to enjoy their own space and privacy. The master bedroom features a half bathroom for added convenience, while the remaining bedrooms offer versatility to accommodate guests, a home office, or hobbies. You'll appreciate the recent upgrades this home has to offer, including a new roof installed just three years ago, ensuring peace of mind and protection from the elements for years to come. Additionally, the furnace and AC unit are only four years old, providing efficient climate control for comfort throughout every season. Outside, the property boasts a spacious yard, perfect for outdoor activities, gardening, or simply soaking up the sunshine in your own private oasis. Whether you're hosting summer barbecues or enjoying a quiet evening under the stars, this backyard is sure to become your favorite retreat. Don't miss your opportunity to make this delightful ranch house your new home. Schedule a showing today and experience the perfect blend of comfort, convenience, and tranquility! Property Sold As Is

19. 2024-04-17
    listed $189,900 Active 1555-char remark

    Show marketing remark (1555 chars)

    Welcome to your dream home nestled in a quiet neighborhood! This charming 5-bedroom, 1.5-bathroom ranch house offers comfort and convenience in every corner. As you step inside, you'll be greeted by a spacious and inviting living space, perfect for both relaxation and entertaining guests. The kitchen boasts ample cabinet space, ideal for culinary enthusiasts, and it flows seamlessly into the dining area, creating a warm and welcoming atmosphere for family meals. With five bedrooms, there's plenty of room for everyone to enjoy their own space and privacy. The master bedroom features a half bathroom for added convenience, while the remaining bedrooms offer versatility to accommodate guests, a home office, or hobbies. You'll appreciate the recent upgrades this home has to offer, including a new roof installed just three years ago, ensuring peace of mind and protection from the elements for years to come. Additionally, the furnace and AC unit are only four years old, providing efficient climate control for comfort throughout every season. Outside, the property boasts a spacious yard, perfect for outdoor activities, gardening, or simply soaking up the sunshine in your own private oasis. Whether you're hosting summer barbecues or enjoying a quiet evening under the stars, this backyard is sure to become your favorite retreat. Don't miss your opportunity to make this delightful ranch house your new home. Schedule a showing today and experience the perfect blend of comfort, convenience, and tranquility! Property Sold As Is

20. 2012-10-10
    soldstatus $95,000
21. 2007-01-10
    soldstatus $100,000
22. 1991-01-02
    soldstatus $46,500

ⓘ 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: $6,933 · $578/mo
• Projected year-2 tax: $6,933 · $578/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: $27,780
• − Mortgage interest: −$12,323
• − Property taxes: −$6,933
• − Insurance: −$1,100
• − Repairs & maintenance: −$2,222
• − Management: −$2,222
• − Depreciation: −$6,400
• Taxable loss: −$3,422
• Est. tax savings @ 24.0%: +$821
• After-tax cash flow: $890/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

-92.7% since first listed

9 events — show timeline

• 2024-09-07 Rental Removed $3,395 APPFOLIO
• 2024-07-04 Listed for Rent $3,395 APPFOLIO
• 2024-06-17 Sold (Public Records) $179,000 Public Records
• 2024-06-06 Sold (MLS) $179,000 MRED as Distributed by MLS Grid
• 2024-04-26 Contingent — MRED as Distributed by MLS Grid
• 2024-04-17 Listed $189,900 MRED as Distributed by MLS Grid
• 2012-10-10 Sold (Public Records) $95,000 Public Records
• 2007-01-10 Sold (Public Records) $100,000 Public Records
• 1991-01-02 Sold (Public Records) $46,500 Public Records

Property tax history

+5.7%/yr

Latest (2023): $6,933 · +39.2% YoY. Source: county tax records.