430 23rd Ave · Bellwood, IL 60104

$100,440

3 bd · 2.0 ba · 1,016 sqft · SingleFamily · 152 Days on market

Built 1947 4,756 sqft lot

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.4/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Tucked away from the main street, this 3-bedroom home has been well maintained by one owner for the past 30 years. All appliances have been updated within the last year. All bedrooms have walk-in closets. Home is not in a floodplain, but nevertheless was flood-proofed about 5 years ago. Furnace and roof less than 3 years old. Perfect for the smaller family, with ceiling fans thru-out. AS-IS SALE

Key facts

• 4,756 sq ft lot
• 2 garage spots
• Built 1947

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $100k.

Deal economics

• At list price, monthly cash flow is $839 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $100k).
• Recommended offer: $88k (12.0% below list) — sets the bar for market timing.
• Cap rate 16.3% vs local median 5.3% in Bellwood — 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 77/100 on livability (#155 in IL, #2,847 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: health & safety D+, schools F, amenities F.
• Proviso Twp Hsd 209 (suburban): math 12% / reading 17% proficiency, ranked #507 of 620 in IL (top 82%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 41 active listings in the ZIP; 20 comparable units currently listed for rent nearby; rentals at typical pace (median 20d on market — plan ~3-4 weeks tenant-placement turnaround); 6,272 units permitted in Cook County in 2024 (4,658 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $694 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $28k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 152 days — a 12% lower offer ($88k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 20y ago; this cycle's ask has dropped $55k (35%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $65k; list at $100k implies a 55% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1947 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $88,387 (12.0% below list)

Questions for the listing agent

1. It's been on market 152 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1947 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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: 1.93% ✓
• Cap rate: 16.32%
• Cash-on-cash: 35.81%
• DSCR: 2.59
• GRM: 4.3

CMA / ARV

• ARV (on-the-fly): $242,824
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
430 23rd Ave	0.00mi	3/2.0	1,016 (0%)	0mo	$80,000	$79	100
536 24th Ave	0.14mi	3/1.0	961 (-5%)	3mo	$302,000	$314	78
245 S 18th Ave	0.35mi	3/2.0	1,100 (+8%)	3mo	$339,900	$309	68
17 S 21 st Ave S	0.37mi	4/1.0 (+1)	1,000 (-2%)	6mo	$274,000	$274	66
145 Rice Ave	0.75mi	3/2.0	1,000 (-2%)	4mo	$300,000	$300	60
346 31st Ave	0.51mi	2/2.0 (-1)	960 (-6%)	5mo	$155,000	$161	58
133 S 21st Ave	0.23mi	2/1.0 (-1)	880 (-13%)	0mo	$135,000	$153	58
609 Linden Ave	0.75mi	3/1.0	1,008 (-1%)	2mo	$241,000	$239	58
524 Eastern Ave	0.63mi	3/1.0	984 (-3%)	4mo	$245,000	$249	58
203 Rice Ave	0.73mi	3/1.0	989 (-3%)	2mo	$155,000	$157	56
235 32nd Ave	0.60mi	3/1.5	1,116 (+10%)	5mo	$195,000	$175	49
245 S 14th Ave	0.61mi	4/2.0 (+1)	1,141 (+12%)	2mo	$150,000	$131	44

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 31.5%
• Equity multiple: 2.32×
• Total profit: $37,207
• Equity at exit: $14,976

10-year hold

• IRR: 38.6%
• Equity multiple: 4.60×
• Total profit: $101,349
• Equity at exit: $8,684

Cash invested: $28,123 (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 60104

• Active inventory: 41
• Price-to-rent: 4.3×

Monthly cashflow live

• Estimated rent: $1,941 high
• Mortgage (P&I): −$527
• Tax est. 1.5%: −$126 /mo · $1,507/yr
• Insurance: −$42
• HOA: −$0
• Vacancy / Maint / Mgmt: −$408
• Net cashflow: $839

Break-even live

Break-even rent $879

Max offer price $100,440

Occupancy floor 52%

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: $25,110
• Closing costs: $3,013
• Reserves months: —
• Total cash needed: —

Rent comps 20 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
312 23rd Ave Unit 2 Bellwood, IL	2.0	1.0	850	$1,775	$2.09	20d	1	0.22mi
323 22nd Ave Unit G Bellwood, IL	2.0	1.0	750	$1,750	$2.33	24d	1	0.22mi
1814 Warren St Unit 2W Maywood, IL	3.0	1.0	1200	$2,500	$2.08	1d	1	0.41mi
1814 Warren St Maywood, IL	3.0	1.0	1200	$2,500	$2.08	10d	1	0.41mi
12 23rd Ave Melrose Park, IL	2.0	1.0	850	$1,775	$2.09	12d	1	0.50mi
12 23rd Ave Melrose Park, IL	2.0	1.0	850	$1,775	$2.09	20d	1	0.50mi
3108 Saint Charles Rd Unit 2B Bellwood, IL	2.0	1.0	750	$1,550	$2.07	24d	1	0.52mi
218 S 13th Ave Unit 2 Maywood, IL	2.0	1.0	1050	$1,650	$1.57	5d	1	0.66mi
1104 Rice Ave Bellwood, IL	2.0	1.0	995	$1,725	$1.73	22d	1	1.04mi
1013 Bellwood Ave Unit 2W Bellwood, IL	2.0	1.0	925	$1,850	$2.00	20d	1	1.08mi
723 Manchester Ave Westchester, IL	3.0	2.0	1151	$2,721	$2.36	24d	1	1.10mi
604 N 8th Ave Maywood, IL	2.0	1.0	1200	$2,350	$1.96	22d	1	1.13mi
1419 N 16th Ave Melrose Park, IL	2.0	1.0	1000	$1,650	$1.65	1d	1	1.23mi
903 S 5th Ave Unit 2D Maywood, IL	3.0	2.0	1008	$2,100	$2.08	1d	1	1.24mi
410 School St Unit 1B Maywood, IL	3.0	2.0	1218	$2,200	$1.81	1d	1	1.25mi
404 School St Maywood, IL	2.0	1.0	737	$1,565	$2.12	1d	1	1.27mi
631 Balmoral Ave Westchester, IL	2.0	1.0	903	$2,100	$2.33	24d	1	1.33mi
2040 16th Ave Unit 2C Broadview, IL	2.0	1.0	900	$1,595	$1.77	13d	1	1.33mi
422 Granville Ave Hillside, IL	3.0	1.0	1194	$2,571	$2.15	7d	1	1.35mi
2416 W Roosevelt Rd Apt 1S Broadview, IL	2.0	1.0	884	$1,475	$1.67	24d	1	1.41mi

Listing history 13 events

1. 2026-01-29
   status Pending
2. 2026-01-16
   price $100,440
3. 2025-12-12
   price $111,600
4. 2025-12-08
   status Active
5. 2025-09-15
   status Pending
6. 2025-07-26
   price $124,000
7. 2025-06-06
   listed $155,000 Active
8. 2017-01-04
   soldstatus $65,000 Closed Sale 398-char remark

   Show marketing remark (398 chars)

   Tucked away from the main street, this 3-bedroom home has been well maintained by one owner for the past 30 years. All appliances have been updated within the last year. All bedrooms have walk-in closets. Home is not in a floodplain, but nevertheless was flood-proofed about 5 years ago. Furnace and roof less than 3 years old. Perfect for the smaller family, with ceiling fans thru-out. AS-IS SALE

9. 2016-10-13
   historical Contingent 398-char remark

   Show marketing remark (398 chars)

   Tucked away from the main street, this 3-bedroom home has been well maintained by one owner for the past 30 years. All appliances have been updated within the last year. All bedrooms have walk-in closets. Home is not in a floodplain, but nevertheless was flood-proofed about 5 years ago. Furnace and roof less than 3 years old. Perfect for the smaller family, with ceiling fans thru-out. AS-IS SALE

10. 2016-10-06
    price $65,000 398-char remark

    Show marketing remark (398 chars)

    Tucked away from the main street, this 3-bedroom home has been well maintained by one owner for the past 30 years. All appliances have been updated within the last year. All bedrooms have walk-in closets. Home is not in a floodplain, but nevertheless was flood-proofed about 5 years ago. Furnace and roof less than 3 years old. Perfect for the smaller family, with ceiling fans thru-out. AS-IS SALE

11. 2016-09-22
    listed $75,000 New 398-char remark

    Show marketing remark (398 chars)

    Tucked away from the main street, this 3-bedroom home has been well maintained by one owner for the past 30 years. All appliances have been updated within the last year. All bedrooms have walk-in closets. Home is not in a floodplain, but nevertheless was flood-proofed about 5 years ago. Furnace and roof less than 3 years old. Perfect for the smaller family, with ceiling fans thru-out. AS-IS SALE

12. 2007-02-20
    historical
13. 2006-11-30
    listed

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 3/10 Moderate FEMA zone X (unshaded) · 20% 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: $23,292
• − Mortgage interest: −$5,626
• − Property taxes: −$1,507
• − Insurance: −$502
• − Repairs & maintenance: −$1,863
• − Management: −$1,863
• − Depreciation: −$2,922
• Taxable income: $9,008
• Est. tax owed @ 24.0%: −$2,162
• After-tax cash flow: $7,909/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: Proviso Twp Hsd 209
• NCES district ID: 1732910
• Math proficiency: 12% ▼ -4.00%
• Reading proficiency: 17% ▼ -3.00%
• Median HH income: $51,744
• Composite: 13.5/100
• National rank: #9518
• State rank: #507 of 620 in IL

Livability — Bellwood

• Score: 77/100
• State rank: #155
• US rank: #2847

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Bellwood, IL
• City population: 18,390
• Population (ZIP): 18,390

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 (70%)
• Race & ethnicity: Black 70% Hispanic / Latino 23% Two or more races 7% White 4% Asian 1%
• Hispanic origin (detail): Mexican 18% Puerto Rican 4%
• Common ancestry: Romanian 1%
• Foreign-born: 10% · Canada
• Languages at home: 78% English-only · Spanish 20% 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: ▼ -212.49%
• Current HPI: 290.8215
• 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

+33.9% since first listed

13 events — show timeline

• 2026-01-29 Pending — MRED as Distributed by MLS Grid
• 2026-01-16 Price Changed $100,440 MRED as Distributed by MLS Grid
• 2025-12-12 Price Changed $111,600 MRED as Distributed by MLS Grid
• 2025-12-08 Relisted — MRED as Distributed by MLS Grid
• 2025-09-15 Pending — MRED as Distributed by MLS Grid
• 2025-07-26 Price Changed $124,000 MRED as Distributed by MLS Grid
• 2025-06-06 Listed $155,000 MRED as Distributed by MLS Grid
• 2017-01-04 Sold (MLS) $65,000 MRED as Distributed by MLS Grid
• 2016-10-13 Contingent — MRED as Distributed by MLS Grid
• 2016-10-06 Price Changed $65,000 MRED as Distributed by MLS Grid
• 2016-09-22 Listed $75,000 MRED as Distributed by MLS Grid
• 2007-02-20 Listing Removed — MRED as Distributed by MLS Grid
• 2006-11-30 Listed — MRED as Distributed by MLS Grid