8856 S Washtenaw Ave · Evergreen Park, IL 60805

$255,000

3 bd · 1.0 ba · 1,498 sqft · SingleFamily public records · 83 Days on market

Built 1955 9,216 sqft lot Est $333k · 23% 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 +26.4/30.0
• ARV discount +15.0/15.0
• DSCR +9.0/10.0
• 1% rule +6.4/10.0
• Livability +4.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0
• Appreciation +0.0/10.0

Listing remarks

Charming 3 Bed, 1 Bath Ranch offering over 1,500 sq ft of comfortable living space. The home features a spacious and open floor plan with hardwood flooring throughout most of the home, adding warmth and character. Step outside to an oversized yard-ideal for entertaining, relaxing, or enjoying outdoor activities. Both the home and garage have brand new roofs, providing peace of mind for years to come. Situated on a well-kept, quiet block, this solid home is a great opportunity for anyone looking for space, updates, and a great location.

Key facts

• Hardwood flooring
• Open floor plan
• Oversized yard

Tags

• OPEN FLOOR PLAN
• HARDWOOD FLOORING
• OVERSIZED YARD
• BRAND NEW ROOFS
• QUIET BLOCK

Property features AI

Finance

• HOA & community: No master association fee required

Exterior

• Parking: Detached garage with 2 garage spaces (2 total parking spaces)
• Utilities: Public water; Public sewer
• Home design: Detached single-family home; One-story
• Construction: Brick construction; Built approximately 71–80 years ago; Property built before 1978
• Exterior features: Lot dimensions approximately 72 x 128; Lot smaller than 0.25 acre

Interior

• Kitchen: Kitchen on the main level (10 x 16) with hardwood flooring
• Bedrooms: Three bedrooms (all on the main level) — master bedroom plus two additional bedrooms (10 x 8 and 10 x 9)
• Flooring: Hardwood flooring in living room, kitchen, and dining room
• Bathrooms: One full bathroom
• Heating & cooling: Natural gas forced-air heating; Central air conditioning
• Interior features: Six total rooms; Crawl space basement
• Laundry & utility: Dedicated laundry room

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $255k.

Deal economics

• At list price, monthly cash flow is $665 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $255k).
• Recommended offer: $240k (6.0% below list) — sets the bar for market timing.
• Cap rate 9.4% vs local median 5.9% in Evergreen Park — 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 87/100 on livability (#14 in IL, #327 nationally) — a professional / high-income tenant draw. Strengths: commute A+, employment A+, housing A+; Watch: crime D+.
• Evergreen Park Chsd 231 (suburban): math 25% / reading 23% proficiency, ranked #303 of 620 in IL (top 49%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Evergreen Park High School (math 25% / reading 23%, grade F, #304 of 693 statewide, top 44%, 931 students, 0% FRL).
• Market conditions: 37 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals leasing fast (median 7d 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

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $71k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 83 days — a 6% lower offer ($240k) is reasonable based on typical stale-listing flexibility.
• 9 sale attempts since 19y ago; this cycle's ask has dropped $15k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $90k; list at $255k implies a 183% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1955 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $239,700 (6.0% below list)

Questions for the listing agent

1. It's been on market 83 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 1955 — 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 B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
6. 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?
7. 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.
8. 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.
9. 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: 1.14% ✓
• Cap rate: 9.42%
• Cash-on-cash: 11.17%
• DSCR: 1.50
• GRM: 7.3

CMA / ARV

• ARV (on-the-fly): $332,556
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2729 W 89th Pl	0.10mi	3/1.0	1,480 (-1%)	4mo	$190,000	$128	90
9021 S Francisco Ave	0.28mi	4/1.5 (+1)	1,469 (-2%)	1mo	$315,000	$214	76
8855 S Richmond Ave	0.28mi	4/2.0 (+1)	1,522 (+2%)	2mo	$360,000	$237	74
2612 W 89th Pl	0.12mi	3/1.5	1,328 (-11%)	5mo	$240,000	$181	70
8431 S Rockwell St	0.57mi	3/2.0	1,421 (-5%)	2mo	$329,000	$232	59
8738 S Troy Ave	0.60mi	3/3.0	1,424 (-5%)	2mo	$372,999	$262	54
9304 S Utica Ave	0.69mi	4/2.0 (+1)	1,558 (+4%)	2mo	$300,000	$193	50
8759 S Troy Ave	0.56mi	3/3.0	1,400 (-6%)	6mo	$280,000	$200	50
2719 W 94th St	0.66mi	3/2.5	1,596 (+6%)	3mo	$385,000	$241	50
2635 W 94th Pl	0.72mi	3/2.0	1,600 (+7%)	6mo	$355,000	$222	46
9308 Utica Ave S	0.69mi	2/1.5 (-1)	1,400 (-6%)	6mo	$248,000	$177	45
8841 S Utica St	0.42mi	4/2.5 (+1)	1,300 (-13%)	4mo	$333,000	$256	45

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: 0.4%
• Equity multiple: 1.01×
• Total profit: $983
• Equity at exit: $38,021

10-year hold

• IRR: 10.0%
• Equity multiple: 1.77×
• Total profit: $55,226
• Equity at exit: $22,048

Cash invested: $71,400 (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 60805

• Home prices YoY: -34.0%
• Active inventory: 37
• Price-to-rent: 7.3×

Monthly cashflow live

• Estimated rent: $2,905 medium
• Mortgage (P&I): −$1,337
• Tax from tax record: −$187 /mo · $2,243/yr
• Insurance: −$106
• HOA: −$0
• Vacancy / Maint / Mgmt: −$610
• Net cashflow: $665

Break-even live

Break-even rent $2,064

Max offer price $255,000

Occupancy floor 72%

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: $63,750
• Closing costs: $7,650
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
8755 S Fairfield Ave Evergreen Park, IL	3.0	1.5	1463	$2,900	$1.98	4d	1	0.13mi
9305 S Homan Ave Unit 1 Evergreen Park, IL	3.0	1.0	893	$2,195	$2.46	17d	1	1.01mi
8138 S Kedzie Ave Unit 1546084P Chicago, IL	2.0	1.0	1399	$3,161	$2.26	7d	1	1.11mi
10043 S Talman Ave Chicago, IL	3.0	2.0	1374	$3,300	$2.40	2d	1	1.49mi

Listing history 39 events

1. 2026-06-18
   days on market $255,000 Active 83 DOM
2. 2026-06-17
   days on market $255,000 Active 82 DOM
3. 2026-06-16
   days on market $255,000 Active 81 DOM
4. 2026-06-16
   price $255,000 Active 80 DOM
5. 2026-06-15
   days on market $259,000 Active 80 DOM
6. 2026-06-13
   days on market $259,000 Active 78 DOM
7. 2026-06-13
   days on market $259,000 Active 77 DOM
8. 2026-06-09
   days on market $259,000 Active 74 DOM
9. 2026-06-08
   days on market $259,000 Active 73 DOM
10. 2026-06-07
    days on market $259,000 Active 72 DOM
11. 2026-06-04
    days on market $259,000 Active 69 DOM
12. 2026-06-03
    days on market $259,000 Active 68 DOM
13. 2026-06-02
    days on market $259,000 Active 67 DOM
14. 2026-06-01
    days on market $259,000 Active 66 DOM
15. 2026-05-31
    days on market $259,000 Active 65 DOM
16. 2026-05-18
    price $259,000
17. 2026-03-27
    listed $270,000 Active
18. 2025-11-19
    historical
19. 2025-11-05
    listed Active
20. 2025-11-05
    historical
21. 2025-09-12
    listed Active
22. 2025-09-12
    historical
23. 2025-07-29
    price
24. 2025-07-14
    listed Active
25. 2021-06-10
    historical
26. 2021-06-01
    price
27. 2020-12-28
    price
28. 2020-12-01
    listed New
29. 2020-01-27
    historical
30. 2019-12-05
    listed New
31. 2016-04-05
    status Contingent (Do Not Show)
32. 2016-03-24
    historical
33. 2016-03-01
    listed New
34. 2015-09-22
    historical Contingent
35. 2015-09-21
    historical
36. 2015-07-30
    listed New
37. 2008-04-23
    historical
38. 2007-11-18
    listed
39. 1998-12-29
    soldstatus $90,000

ⓘ 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: $2,243 · $187/mo
• Projected year-2 tax: $4,016 · $335/mo
• Expected delta: +$1,773/yr (+$148/mo · 79.1%)

ⓘ 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 ≥102°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $34,863
• − Mortgage interest: −$14,284
• − Property taxes: −$2,243
• − Insurance: −$1,275
• − Repairs & maintenance: −$2,789
• − Management: −$2,789
• − Depreciation: −$7,418
• Taxable income: $4,066
• Est. tax owed @ 24.0%: −$976
• After-tax cash flow: $7,002/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: Evergreen Park Chsd 231
• NCES district ID: 1714580
• Math proficiency: 25% ▼ -10.00%
• Reading proficiency: 23% ▼ -12.00%
• Median HH income: $64,735
• Composite: 22.65/100
• National rank: #8054
• State rank: #303 of 620 in IL

Livability — Evergreen Park

• Score: 87/100
• State rank: #14
• US rank: #327

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Evergreen Park, IL
• City population: 19,498
• Population (ZIP): 19,498

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 0.63)
• Race & ethnicity: White 53% Black 22% Hispanic / Latino 18% Two or more races 10% Asian 3%
• Hispanic origin (detail): Mexican 16% Cuban 1%
• Common ancestry: Romanian 8% Iranian 1% Lithuanian 1%
• Foreign-born: 10% · Canada, Jamaica
• Languages at home: 83% English-only · Spanish 12% Other Indo-European 1% Tagalog/Filipino 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: ▼ -118.60%
• Current HPI: 229.8185
• 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

+187.8% since first listed

24 events — show timeline

• 2026-05-18 Price Changed $259,000 MRED as Distributed by MLS Grid
• 2026-03-27 Listed $270,000 MRED as Distributed by MLS Grid
• 2025-11-19 Listing Removed — MRED as Distributed by MLS Grid
• 2025-11-05 Listing Removed — MRED as Distributed by MLS Grid
• 2025-11-05 Listed — MRED as Distributed by MLS Grid
• 2025-09-12 Listing Removed — MRED as Distributed by MLS Grid
• 2025-09-12 Listed — MRED as Distributed by MLS Grid
• 2025-07-29 Price Changed — MRED as Distributed by MLS Grid
• 2025-07-14 Listed — MRED as Distributed by MLS Grid
• 2021-06-10 Listing Removed — MRED as Distributed by MLS Grid
• 2021-06-01 Price Changed — MRED as Distributed by MLS Grid
• 2020-12-28 Price Changed — MRED as Distributed by MLS Grid
• 2020-12-01 Listed — MRED as Distributed by MLS Grid
• 2020-01-27 Listing Removed — MRED as Distributed by MLS Grid
• 2019-12-05 Listed — MRED as Distributed by MLS Grid
• 2016-04-05 Pending — MRED as Distributed by MLS Grid
• 2016-03-24 Listing Removed — MRED as Distributed by MLS Grid
• 2016-03-01 Listed — MRED as Distributed by MLS Grid
• 2015-09-22 Contingent — MRED as Distributed by MLS Grid
• 2015-09-21 Listing Removed — MRED as Distributed by MLS Grid
• 2015-07-30 Listed — MRED as Distributed by MLS Grid
• 2008-04-23 Listing Removed — MRED as Distributed by MLS Grid
• 2007-11-18 Listed — MRED as Distributed by MLS Grid
• 1998-12-29 Sold (Public Records) $90,000 Public Records

Property tax history

+1.5%/yr

Latest (2023): $2,243 · +6.0% YoY. Source: county tax records.