17226 Community St · Lansing, IL 60438

$145,000

4 bd · 2.0 ba · 1,723 sqft · SingleFamily public records · 71 Days on market

Built 1961 6,150 sqft lot Est $231k · 37% 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
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.0/10.0
• Appreciation +0.0/10.0

Listing remarks

Rehab-ready with unlimited potential! This spacious 3-bedroom, 1-bath home offers 1,723 sq ft of living space on a generous 6,200 sq ft lot in a peaceful and quiet neighborhood. Perfect for investors, flippers, or homeowners ready to customize, this solid home is priced to sell and offered as-is. It features a bright, open layout with plenty of natural light, cozy bedrooms, a full bathroom, and generous living areas ready for your personal updates and vision. Outside, you'll enjoy a large private backyard with room for gardening, play, or outdoor relaxation, plus an attached garage for parking and storage. This is a fantastic opportunity to add your own style and build instant equity in one

Key facts

• 6,150 sq ft lot
• 2 garage spots
• Built 1961

Property features AI

Finance

• Other: Fee simple ownership; School bus service available
• HOA & community: No master association fee required

Exterior

• Parking: Detached garage (garage owned) with garage door opener; Asphalt driveway; Two parking spaces (two garage spaces)
• Utilities: Water: Lake Michigan; Sewer: Mechanical septic; Electric: Circuit breakers
• Home design: Detached single-family home; One-story
• Construction: Built approximately 61–70 years ago; Brick, frame, and concrete construction; Asphalt roof; Concrete perimeter foundation
• Exterior features: Patio

Interior

• Kitchen: Pantry (closet and walk-in); Range; Microwave; Dishwasher; Refrigerator
• Bedrooms: Main-level master bedroom; Two additional main-level bedrooms
• Flooring: Hardwood; Carpet (in select bedrooms and living room)
• Bathrooms: One full bathroom
• Heating & cooling: Natural gas and electric heating; Central air conditioning
• Interior features: First-floor bedroom; Combined dining and living room; Attic with pull-down stair; Seven total rooms; Fireplace in family room
• Laundry & utility: Main-level laundry; Washer; Dryer

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $145k.

Deal economics

• At list price, monthly cash flow is $968 ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $145k).
• Recommended offer: $136k (6.0% below list) — sets the bar for market timing.
• Cap rate 14.3% vs local median 5.8% in Lansing — 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 73/100 on livability (#296 in IL) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: crime D+, health & safety D+, amenities 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.
• Zoned schools: Thornton Fractnl So High School (math 11% / reading 14%, grade F, #504 of 693 statewide, top 73%, 1,927 students, 0% FRL).
• Market conditions: 132 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals leasing fast (median 3d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 6,272 units permitted in Cook County in 2024 (4,658 in 5+ unit buildings).
• This rent runs 45% of the median local income ($76k/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 $1k of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $41k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 71 days — a 6% lower offer ($136k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts 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.

Risks & watch-outs

• Watch-outs: property tax is 3.6% of price.
• Climate carrying-cost: moderate flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $136,300 (6.0% below list)

Questions for the listing agent

1. It's been on market 71 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 1961 — 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 D-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. 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 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: 1.94% ✓
• Cap rate: 14.30%
• Cash-on-cash: 28.61%
• DSCR: 2.27
• GRM: 4.3

CMA / ARV

• ARV (on-the-fly): $230,882
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
17317 Roy St	0.10mi	4/2.0	1,718 (-0%)	6mo	$230,000	$134	90
3409 173rd Pl	0.15mi	4/2.5	1,647 (-4%)	4mo	$265,000	$161	81
17244 Wentworth Ave	0.30mi	4/2.0	1,783 (+4%)	1mo	$85,000	$48	79
3253 Bernice Rd	0.21mi	5/1.5 (+1)	1,634 (-5%)	6mo	$120,000	$73	70
17153 Burnham Ave	0.18mi	4/2.0	1,890 (+10%)	8mo	$139,900	$74	69
17706 Wentworth Ave	0.65mi	3/2.0 (-1)	1,738 (+1%)	4mo	$299,000	$172	60
17246 Bernadine St	0.23mi	3/2.5 (-1)	1,500 (-13%)	4mo	$180,000	$120	57
3643 177th St	0.72mi	3/2.0 (-1)	1,649 (-4%)	7mo	$227,000	$138	49
17509 Maple Ave	0.52mi	4/1.5	1,478 (-14%)	2mo	$263,000	$178	49
12 169th St	0.73mi	3/1.5 (-1)	1,667 (-3%)	7mo	$205,000	$123	48
3238 178th St	0.67mi	3/1.5 (-1)	1,550 (-10%)	2mo	$200,000	$129	43
17541 Maple Ave	0.65mi	3/1.5 (-1)	1,500 (-13%)	1mo	$245,000	$163	40

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: 23.0%
• Equity multiple: 1.94×
• Total profit: $38,344
• Equity at exit: $21,620

10-year hold

• IRR: 31.0%
• Equity multiple: 3.80×
• Total profit: $113,562
• Equity at exit: $12,537

Cash invested: $40,600 (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 60438

• Active inventory: 132
• Price-to-rent: 4.3×

Monthly cashflow live

• Estimated rent: $2,809 high
• Mortgage (P&I): −$760
• Tax from tax record: −$431 /mo · $5,170/yr
• Insurance: −$60
• HOA: −$0
• Vacancy / Maint / Mgmt: −$590
• Net cashflow: $968

Break-even live

Break-even rent $1,584

Max offer price $145,000

Occupancy floor 61%

Sensitivity live

Price	-10% $1,050	-5% $1,009	+0% $968	+5% $927	+10% $886
Rent	-10% $746	-5% $857	+0% $968	+5% $1,079	+10% $1,190
Rate	-1.0pp $1,041	-0.5pp $1,005	base $968	+0.5pp $930	+1.0pp $892

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: $36,250
• Closing costs: $4,350
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1539 Wentworth Ave Unit 3W Calumet City, IL	3.0	1.0	1100	$1,700	$1.55	13d	1	0.58mi
7611 Kinsley Pl Munster, IN	3.0	2.0	1700	$4,700	$2.76	2d	1	0.91mi
252 Lawndale St Hammond, IN	4.0	3.0	2016	$2,600	$1.29	2d	1	0.93mi
7610 Manor Ave Munster, IN	3.0	2.0	1700	$4,750	$2.79	2d	1	0.95mi
7741 Hohman Ave Munster, IN	4.0	2.0	2200	$3,200	$1.45	11d	1	0.99mi
17723 Exchange Ave Unit 17723-1N Lansing, IL	3.0	2.0	1100	$1,800	$1.64	2d	1	1.00mi
232 Gregory Ave Munster, IN	3.0	1.5	1600	$2,450	$1.53	2d	1	1.01mi
18108 Oakwood Ave Lansing, IL	3.0	1.0	2100	$2,300	$1.10	2d	1	1.23mi

Listing history 20 events

1. 2026-06-18
   days on market $145,000 Active 71 DOM
2. 2026-06-17
   days on market $145,000 Active 70 DOM
3. 2026-06-16
   days on market $145,000 Active 69 DOM
4. 2026-06-15
   days on market $145,000 Active 68 DOM
5. 2026-06-13
   days on market $145,000 Active 66 DOM
6. 2026-06-09
   days on market $145,000 Active 62 DOM
7. 2026-06-08
   days on market $145,000 Active 61 DOM
8. 2026-06-07
   days on market $145,000 Active 60 DOM
9. 2026-06-04
   days on market $145,000 Active 57 DOM
10. 2026-06-03
    days on market $145,000 Active 56 DOM
11. 2026-06-02
    days on market $145,000 Active 55 DOM
12. 2026-06-01
    days on market $145,000 Active 54 DOM
13. 2026-05-31
    days on market $145,000 Active 53 DOM
14. 2026-05-13
    soldstatus $140,000
15. 2026-04-08
    historical
16. 2026-04-08
    listed $145,000 Active
17. 2026-01-29
    listed Active
18. 2026-01-21
    historical
19. 2025-11-25
    listed Active
20. 1984-12-01
    soldstatus $65,000

ⓘ 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: $5,170 · $431/mo
• Projected year-2 tax: $5,170 · $431/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 5/10 Major FEMA zone X (shaded) · 24% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥102°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 4/10 Moderate 5 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $33,714
• − Mortgage interest: −$8,122
• − Property taxes: −$5,170
• − Insurance: −$725
• − Repairs & maintenance: −$2,697
• − Management: −$2,697
• − Depreciation: −$4,218
• Taxable income: $10,085
• Est. tax owed @ 24.0%: −$2,420
• After-tax cash flow: $9,194/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 — Lansing

• Score: 73/100
• State rank: #296
• US rank: #5698

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lansing, IL
• County: Cook County · 4,486,803 people
• City population: 28,806
• Metro: Chicago-Naperville-Elgin, IL-IN-WI
• Population (ZIP): 28,806
• Household income: $75,681
• Rent vs Own: 27.7% rent · 72.3% own
• Severe rent burden: 830.0

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 0.65)
• Race & ethnicity: Black 51% White 25% Hispanic / Latino 18% Two or more races 7% Asian 2%
• Hispanic origin (detail): Mexican 15%
• Common ancestry: Romanian 5% Iranian 3% Lithuanian 1%
• Foreign-born: 10% · Canada
• Languages at home: 83% English-only · Spanish 12% Vietnamese 1% French/Haitian/Cajun 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: ▼ -151.65%
• Current HPI: 210.3398
• Rent YoY: —
• 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

+115.4% since first listed

7 events — show timeline

• 2026-05-13 Sold (Public Records) $140,000 Public Records
• 2026-04-08 Listed $145,000 MRED as Distributed by MLS Grid
• 2026-04-08 Listing Removed — MRED as Distributed by MLS Grid
• 2026-01-29 Listed — MRED as Distributed by MLS Grid
• 2026-01-21 Listing Removed — MRED as Distributed by MLS Grid
• 2025-11-25 Listed — MRED as Distributed by MLS Grid
• 1984-12-01 Sold (Public Records) $65,000 Public Records

Property tax history

+3.0%/yr

Latest (2023): $5,170 · +10.9% YoY. Source: county tax records.