8762 Central Ave · Oak Lawn, IL 60453

$219,900

4 bd · 2.0 ba · 2,000 sqft · SingleFamily · 48 Days on market

Fair condition 3,000 sqft lot Est $380k · 42% under

---

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
• Rent growth +4.6/5.0
• Livability +4.0/5.0
• Condition / age +2.2/5.0
• Schools +1.9/10.0
• Appreciation +0.0/10.0

Listing remarks

A SPACIOUS 2,OOO SQ FT, TWO-STORY HOME FEATURING 4 BEDROOMS AND 2 BATH LOCATED IN OAK LAWN OFFERING A PRIME OPPORTUNITY FOR CUSTOMIZATION AND TRANSFORMATION INTO A DREAM HOME. MANY POSSIBILITES. .. .. HOME NEEDS TLC

Key facts

• 3,000 sq ft lot
• 2 parking spots
• Listed 48 days

Property features AI

Finance

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

Exterior

• Parking: Two owned parking spaces
• Utilities: Water from Lake Michigan; Public sewer
• Home design: Detached single-family home; Two stories; Fee simple ownership; Estimated living area; Home built approximately 61–70 years ago; Built before 1978
• Construction: Vinyl siding exterior
• Exterior features: Lot dimensions approximately 30 x 100; Less than 0.25 acre lot; Access to school bus, commuter bus, commuter train and interstate

Interior

• Kitchen: Range; Refrigerator; Kitchen on main level
• Bedrooms: Four bedrooms (master on main; three additional bedrooms on second floor)
• Flooring: Carpet in living room and one upstairs bedroom; Vinyl flooring in kitchen and dining room; Other flooring in master bedroom and two other bedrooms/sitting room
• Bathrooms: Two full bathrooms
• Heating & cooling: Natural gas forced-air heating
• Interior features: Eight total rooms; Crawl space basement; All windows have treatments
• Laundry & utility: Dedicated laundry room

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $220k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $1k ($14k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $220k).
• Recommended offer: $213k (3.0% below list) — sets the bar for market timing.
• Cap rate 12.4% vs local median 4.4% in Oak Lawn — 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 80/100 on livability (#102 in IL, #1,614 nationally) — a professional / high-income tenant draw. Strengths: commute A+, housing A+, employment A-.
• Oak Lawn Chsd 229 (suburban): math 22% / reading 21% proficiency, ranked #384 of 620 in IL (top 62%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Oak Lawn Comm High School (math 22% / reading 21%, grade F, #345 of 693 statewide, top 50%, 1,834 students, 0% FRL).
• Market conditions: Rents rising fast (+8.2%/yr); 188 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 10d 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).
• At $3,351/mo this rent would consume 48% of the median local household income ($84k/yr) (locally 827% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $62k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 48 days — a 3% lower offer ($213k) is reasonable based on typical stale-listing flexibility.

Recommended offer $213,303 (3.0% below list)

Questions for the listing agent

1. It's been on market 48 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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.
5. 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.
6. 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: 1.52% ✓
• Cap rate: 12.45%
• Cash-on-cash: 21.98%
• DSCR: 1.98
• GRM: 5.5

CMA / ARV

• ARV (on-the-fly): $380,000
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5710 W 89th Pl	0.24mi	3/2.0 (-1)	2,089 (+4%)	6mo	$380,000	$182	72
8744 Central Ave	0.02mi	5/3.0 (+1)	1,800 (-10%)	5mo	$312,500	$174	69
5175 W 88th Pl	0.53mi	4/2.0	1,997 (-0%)	8mo	$380,000	$190	68
8619 Linder Ave	0.27mi	4/3.0	1,815 (-9%)	4mo	$480,000	$264	64
9111 S 55th Ave	0.44mi	4/2.5	1,876 (-6%)	5mo	$420,000	$224	63
8847 Meade Ave	0.60mi	3/2.5 (-1)	2,036 (+2%)	2mo	$420,000	$206	60
9100 Lynwood Dr	0.62mi	4/1.0	2,013 (+1%)	8mo	$285,000	$142	60
8548 Lockwood Ave	0.48mi	3/2.0 (-1)	2,200 (+10%)	7mo	$457,000	$208	50
8433 Long Ave	0.53mi	4/1.0	1,800 (-10%)	7mo	$295,000	$164	49
8210 Linder Ave	0.73mi	4/2.0	1,807 (-10%)	1mo	$387,000	$214	49
5368 Otto Pl	0.41mi	3/1.0 (-1)	1,759 (-12%)	6mo	$225,000	$128	47
9300 Major Ave	0.65mi	3/2.5 (-1)	1,808 (-10%)	0mo	$265,000	$147	46

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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 20.2%
• Equity multiple: 1.88×
• Total profit: $53,964
• Equity at exit: $32,788

10-year hold

• IRR: 31.7%
• Equity multiple: 4.58×
• Total profit: $220,307
• Equity at exit: $19,013

Cash invested: $61,572 (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 60453

• Rents YoY: 8.2%
• Active inventory: 188
• Price-to-rent: 5.5×

Monthly cashflow live

• Estimated rent: $3,351 medium
• Mortgage (P&I): −$1,153
• Tax est. 1.5%: −$275 /mo · $3,298/yr
• Insurance: −$92
• HOA: −$0
• Vacancy / Maint / Mgmt: −$704
• Net cashflow: $1,128

Break-even live

Break-even rent $1,924

Max offer price $219,900

Occupancy floor 61%

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: $54,975
• Closing costs: $6,597
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5212 Avery Pl Unit 1545958P Oak Lawn, IL	3.0	1.0	2195	$3,548	$1.62	10d	1	0.43mi
5330 W 86th St Burbank, IL	4.0	2.0	2300	$4,100	$1.78	1d	1	0.45mi
8621 Natchez Ave Burbank, IL	3.0	3.0	2000	$2,900	$1.45	21d	1	1.09mi

Listing history 18 events

1. 2026-06-18
   days on market $219,900 Active 48 DOM
2. 2026-06-17
   days on market $219,900 Active 47 DOM
3. 2026-06-16
   days on market $219,900 Active 46 DOM
4. 2026-06-15
   days on market $219,900 Active 45 DOM
5. 2026-06-13
   days on market $219,900 Active 43 DOM
6. 2026-06-13
   days on market $219,900 Active 42 DOM
7. 2026-06-09
   pricedays on market $219,900 Active 39 DOM
8. 2026-06-08
   days on market $229,900 Active 38 DOM
9. 2026-06-07
   days on market $229,900 Active 37 DOM
10. 2026-06-04
    days on market $229,900 Active 34 DOM
11. 2026-06-03
    days on market $229,900 Active 33 DOM
12. 2026-06-02
    days on market $229,900 Active 32 DOM
13. 2026-06-01
    days on market $229,900 Active 31 DOM
14. 2026-05-31
    days on market $229,900 Active 30 DOM
15. 2025-11-30
    historical
16. 2025-08-21
    listed Active
17. 2025-04-30
    historical
18. 2025-01-29
    listed Active

ⓘ 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 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 0% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 4 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $40,216
• − Mortgage interest: −$12,318
• − Property taxes: −$3,298
• − Insurance: −$1,100
• − Repairs & maintenance: −$3,217
• − Management: −$3,217
• − Depreciation: −$6,397
• Taxable income: $10,669
• Est. tax owed @ 24.0%: −$2,560
• After-tax cash flow: $10,974/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.

Condition & rehab AI · 13 photos

Fair 45/100 Moderate rehab

This two-story home requires moderate renovations, including painting, updating the kitchen and bathrooms, and improving the exterior siding. The home has potential for increased value with these updates.

Repairs flagged

• Major Exterior siding — The exterior siding appears weathered and shows signs of wear, with some discoloration and possible peeling.
• Minor Kitchen cabinets — The cabinets are in fair condition, but the countertops and appliances appear dated and worn.
• Minor Bathroom fixtures — The bathrooms have basic fixtures and appear to be in fair condition, but the walls and ceilings show some discoloration and stains.

Value-add opportunities

• Resale Paint interior walls and ceilings — Painting the interior walls and ceilings can significantly improve the home's appearance and increase its resale value.
• Resale Replace worn-out kitchen countertops and appliances — Upgrading the kitchen countertops and appliances can significantly improve the home's appearance and increase its resale value.
• Resale Replace worn-out bathroom fixtures — Upgrading the bathroom fixtures can significantly improve the home's appearance and increase its resale value.
• Both Landscaping and curb appeal — Improving the landscaping and curb appeal can increase the home's resale and rental value by making it more attractive to potential buyers and renters.

Renovation cost estimate screening

Repair item	Severity	Est. cost
Exterior siding · The exterior siding appears weathered and shows signs of wear, with some discoloration and possible peeling.	Major	$15,000–50,000
Kitchen cabinets · The cabinets are in fair condition, but the countertops and appliances appear dated and worn.	Minor	$500–3,000
Bathroom fixtures · The bathrooms have basic fixtures and appear to be in fair condition, but the walls and ceilings show some discoloration and stains.	Minor	$500–3,000
Total estimated repair cost · 3 items		$16,000–56,000

Value-add ROI direction

• Resale Paint interior walls and ceilings — Painting the interior walls and ceilings can significantly improve the home's appearance and increase its resale value. ↑
• Resale Replace worn-out kitchen countertops and appliances — Upgrading the kitchen countertops and appliances can significantly improve the home's appearance and increase its resale value. ↑
• Resale Replace worn-out bathroom fixtures — Upgrading the bathroom fixtures can significantly improve the home's appearance and increase its resale value. ↑
• Both Landscaping and curb appeal — Improving the landscaping and curb appeal can increase the home's resale and rental value by making it more attractive to potential buyers and renters. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Oak Lawn Chsd 229
• NCES district ID: 1729220
• Math proficiency: 22% ▼ -4.00%
• Reading proficiency: 21% ▼ -4.00%
• Median HH income: $52,505
• Composite: 19.41/100
• National rank: #8777
• State rank: #384 of 620 in IL

Livability — Oak Lawn

• Score: 80/100
• State rank: #102
• US rank: #1614

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Oak Lawn, IL
• County: Cook County · 4,486,803 people
• City population: 56,861
• Metro: Chicago-Naperville-Elgin, IL-IN-WI
• Population (ZIP): 56,861
• Household income: $83,911
• Rent vs Own: 17.5% rent · 82.5% own
• Severe rent burden: 827.0

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: Majority White (64%)
• Race & ethnicity: White 64% Hispanic / Latino 24% Two or more races 9% Black 8% Asian 2%
• Hispanic origin (detail): Mexican 21%
• Common ancestry: Romanian 16% Iranian 1% Armenian 1%
• Foreign-born: 16% · Canada, Vietnam
• Languages at home: 70% English-only · Spanish 17% Russian/Polish/Slavic 5% Arabic 4%

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: ▼ -259.83%
• Current HPI: 214.6977
• Rent YoY: ▲ 8.23%
• 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