5337 W 87th St · Oak Lawn, IL 60453

$519,000

6 bd · 2.0 ba · — sqft · MultiFamily · 7 Days on market

Built 1968 Fair condition

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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
• 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

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

Take advantage of the new lending requirement only needing 5% down for 2 Unit properties! Have you thought about purchasing an investment property or living in one and renting out the other? Look no further as this property checks all the boxes! Each unit is 3 bedrooms, and 1 bathroom, and if thats not enough then you can finish the basement and create more value there for a 3rd unit or storage space! There is a two car garage, and a lovely backyard! Located near schools, shopping, and entertainment! Book your showing today!

Key facts

• Near schools
• Furnace
• New roof

Tags

• NEW ROOF
• NEW WINDOWS
• FURNACE
• GREAT BACKYARD
• NEAR SCHOOLS
• NEAR TRANSPORTATION

Property features AI

Finance

• Other: Parcel number: 24041030340000
• Financial info: Building contains 2 units; Unit 1 rent: $1,800 per month (security deposit $1,750) — lease through June 1, 2030; Unit 2 rent: $1,800 per month (security deposit $1,800) — lease expired May 1, 2007; Special service area: No

Exterior

• Parking: Attached garage (owned); 2 garage spaces; Driveway parking; 5 total parking spaces
• Utilities: Water source: Lake Michigan; Public sewer
• Home design: Two- to four-unit property; Fee simple ownership; Built before 1978
• Construction: Brick construction; Asphalt roof; Concrete perimeter foundation; Property age: approximately 51–60 years
• Exterior features: School bus service, commuter bus and train access, interstate access

Interior

• Kitchen: Unit 1: Stove, Refrigerator, Built-in Oven; Unit 2: Stove, Refrigerator, Built-in Oven
• Bedrooms: 6 bedrooms total; Unit 1 (1st floor): 3 bedrooms; Unit 2 (2nd floor): 3 bedrooms
• Bathrooms: 2 full bathrooms total; Unit 1: 1 full bathroom; Unit 2: 1 full bathroom
• Heating & cooling: Baseboard heating
• Interior features: 8 total rooms; Partially finished full basement
• Laundry & utility: Tenants pay electric, gas, and heat (for each unit)

What this means for you Summary

Snapshot

• This is a 6-bed/2.0-bath multifamily listed at $519k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $3k ($31k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($8k rent vs $519k).
• Cap rate 12.2% 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.
• Market conditions: Rents rising fast (+8.2%/yr); 188 active listings in the ZIP; solid renter incomes; 6,272 units permitted in Cook County in 2024 (4,658 in 5+ unit buildings).
• At $7,778/mo this rent would consume 111% 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 $4k of loan paydown is wiped out by about $16k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $145k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 3y ago 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.
• Current owner paid $405k; 28% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $519,000

Questions for the listing agent

1. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
2. Built in 1968 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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 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: 1.50% ✓
• Cap rate: 12.21%
• Cash-on-cash: 21.12%
• DSCR: 1.94
• GRM: 5.6

CMA / ARV

No comps found within radius.

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5337 W 87th St	0.00mi	6/2.0	—	0mo	$519,000	—	87
5333 W 87th St	0.01mi	5/2.0 (-1)	—	23mo	$439,000	—	63

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: 19.1%
• Equity multiple: 1.83×
• Total profit: $120,038
• Equity at exit: $77,385

10-year hold

• IRR: 30.7%
• Equity multiple: 4.45×
• Total profit: $501,869
• Equity at exit: $44,874

Cash invested: $145,320 (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: 16.7×

Monthly cashflow live

• Estimated rent: $7,778 high
• Mortgage (P&I): −$2,722
• Tax est. 1.5%: −$649 /mo · $7,785/yr
• Insurance: −$216
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,633
• Net cashflow: $2,558

Break-even live

Break-even rent $4,540

Max offer price $519,000

Occupancy floor 62%

3-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 3× units	3	1	$7,779
Total (3 units)			$7,778

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: $129,750
• Closing costs: $15,570
• Reserves months: —
• Total cash needed: —

Listing history 5 events

1. 2026-05-14
   status Pending
2. 2026-05-07
   listed $519,000 Active
3. 2023-12-21
   soldstatus $405,000 Closed 530-char remark

   Show marketing remark (530 chars)

   Take advantage of the new lending requirement only needing 5% down for 2 Unit properties! Have you thought about purchasing an investment property or living in one and renting out the other? Look no further as this property checks all the boxes! Each unit is 3 bedrooms, and 1 bathroom, and if thats not enough then you can finish the basement and create more value there for a 3rd unit or storage space! There is a two car garage, and a lovely backyard! Located near schools, shopping, and entertainment! Book your showing today!

4. 2023-11-27
   historical Contingent - Continue to Show 530-char remark

   Show marketing remark (530 chars)

   Take advantage of the new lending requirement only needing 5% down for 2 Unit properties! Have you thought about purchasing an investment property or living in one and renting out the other? Look no further as this property checks all the boxes! Each unit is 3 bedrooms, and 1 bathroom, and if thats not enough then you can finish the basement and create more value there for a 3rd unit or storage space! There is a two car garage, and a lovely backyard! Located near schools, shopping, and entertainment! Book your showing today!

5. 2023-11-16
   listed $399,900 Active 530-char remark

   Show marketing remark (530 chars)

   Take advantage of the new lending requirement only needing 5% down for 2 Unit properties! Have you thought about purchasing an investment property or living in one and renting out the other? Look no further as this property checks all the boxes! Each unit is 3 bedrooms, and 1 bathroom, and if thats not enough then you can finish the basement and create more value there for a 3rd unit or storage space! There is a two car garage, and a lovely backyard! Located near schools, shopping, and entertainment! Book your showing today!

ⓘ 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 ≥100°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: $93,336
• − Mortgage interest: −$29,072
• − Property taxes: −$7,785
• − Insurance: −$2,595
• − Repairs & maintenance: −$7,467
• − Management: −$7,467
• − Depreciation: −$15,098
• Taxable income: $23,852
• Est. tax owed @ 24.0%: −$5,724
• After-tax cash flow: $24,971/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 · 12 photos

Fair 45/100 Moderate rehab

This property requires moderate renovations, including a fresh paint job and landscaping, to improve its overall condition and value.

Repairs flagged

• Major paint — paint appears worn and needs touch-up
• Major landscaping — some overgrown shrubs need trimming

Value-add opportunities

• Both paint job — Fresh paint can improve curb appeal and interior aesthetics
• Both landscaping — Well-maintained landscaping enhances curb appeal and property value

Renovation cost estimate screening

Repair item	Severity	Est. cost
paint · paint appears worn and needs touch-up	Major	$15,000–50,000
landscaping · some overgrown shrubs need trimming	Major	$15,000–50,000
Total estimated repair cost · 2 items		$30,000–100,000

Value-add ROI direction

• Both paint job — Fresh paint can improve curb appeal and interior aesthetics ↑
• Both landscaping — Well-maintained landscaping enhances curb appeal and property value ↑

ⓘ 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

Price history

+29.8% since first listed

5 events — show timeline

• 2026-05-14 Pending — MRED as Distributed by MLS Grid
• 2026-05-07 Listed $519,000 MRED as Distributed by MLS Grid
• 2023-12-21 Sold (MLS) $405,000 MRED as Distributed by MLS Grid
• 2023-11-27 Contingent — MRED as Distributed by MLS Grid
• 2023-11-16 Listed $399,900 MRED as Distributed by MLS Grid