2104 Fairview Ave · Fairmont, IL 60441

$225,000

4 bd · 2.0 ba · 1,160 sqft · Other public records · 31 Days on market

Built 1949 6,650 sqft lot

---

Why this score? — see what drove the C+ 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 +25.9/30.0
• DSCR +8.7/10.0
• ARV discount +7.5/15.0
• 1% rule +6.6/10.0
• Rent growth +3.5/5.0
• Schools +3.4/10.0
• Livability +3.4/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Attention all investors! Don't miss this opportunity to own 2-unit rental property. This income-producing property offering peace of mind for years to come and making it an ideal addition to any investment portfolio. With two good tenants that are willing to stay, Improvements includes: * Two new furnaces installed for both units in December 2022. Roof replaced in June 2023. * New sewer line replaced from the property to the city utility connection in 2023. An added benefit, the current property management and maintenance services may be available for contract by the new owner through a separate independent agreement, providing a seamless transition for out-of-area or hands-off investo

Key facts

• 6,650 sq ft lot
• 4 parking spots
• Built 1949

Property features AI

Finance

• Other: Two-unit building with rents reported: Unit 1 $1,000/month, Unit 2 $1,175/month; Security deposits reported: Unit 1 $1,000, Unit 2 $1,175; Units are month-to-month leases
• Financial info: Special Service Area: No; Water/sewer expense reported as $2,264 (actual)

Exterior

• Parking: Off-street parking for 4 vehicles; Owned parking
• Utilities: Public water; Public sewer; Electric and gas service (tenant-paid for units)
• Home design: Two-to-four unit property; Fee simple ownership; Rehabilitated in 2022; Built approximately 71–80 years ago; Not converted
• Construction: Vinyl siding; Asphalt roof; Block foundation; Built before 1978
• Exterior features: Lot dimensions approximately 133 x 50; Lot size less than 0.25 acre (survey)

Interior

• Kitchen: Each unit includes a stove and refrigerator
• Bedrooms: 4 bedrooms total (2 bedrooms in each unit)
• Bathrooms: 2 full bathrooms total (1 in each unit)
• Heating & cooling: Natural gas heating
• Interior features: 8 total rooms; Two-unit building (one unit on each floor/level)
• Laundry & utility: Tenants pay electric and gas

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath other listed at $225k.

Deal economics

• At list price, monthly cash flow is $554 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $225k).
• Recommended offer: $218k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 68/100 on livability (#455 in IL) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: amenities F, health & safety F.
• Lockport Twp Hsd 205 (suburban): math 35% / reading 38% proficiency, ranked #153 of 620 in IL (top 25%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Fairmont School (math 8% / reading 12%, grade F, #1,517 of 2,056 statewide, top 78%, 312 students, 0% FRL); Lockport Township High Sch East (math 35% / reading 38%, grade F, #117 of 693 statewide, top 17%, 3,872 students, 0% FRL).
• Zoned-school proficiency averages 23% at this address vs 36% district-wide (-13 pts) — the specific schools serving this property underperform the Lockport Twp Hsd 205 average; the district grade overstates school quality for this exact location.
• Market conditions: Rents rising (+3.9%/yr); 132 active listings in the ZIP; 1 comparable units currently listed for rent nearby; solid renter incomes; 2,028 units permitted in Will County in 2024 (530 in 5+ unit buildings).
• This rent runs 30% of the median local income ($103k/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 $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Will County population projected to shrink 4% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 3.9% rent growth), your $63k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 31 days — a 3% lower offer ($218k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 4y ago; this cycle's ask has dropped $25k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1949 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $218,250 (3.0% below list)

Questions for the listing agent

1. It's been on market 31 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1949 — 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. 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?
5. 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.
6. 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.
7. 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: 1.16% ✓
• Cap rate: 9.25%
• Cash-on-cash: 10.55%
• DSCR: 1.47
• GRM: 7.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.91% rent growth · sell at horizon

5-year hold

• IRR: 0.5%
• Equity multiple: 1.02×
• Total profit: $1,254
• Equity at exit: $33,548

10-year hold

• IRR: 11.1%
• Equity multiple: 1.90×
• Total profit: $56,681
• Equity at exit: $19,454

Cash invested: $63,000 (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 60441

• Home prices YoY: -33.0%
• Rents YoY: 3.9%
• Active inventory: 132
• Price-to-rent: 7.2×

Monthly cashflow live

• Estimated rent: $2,616 medium
• Mortgage (P&I): −$1,180
• Tax from tax record: −$239 /mo · $2,867/yr
• Insurance: −$94
• HOA: −$0
• Vacancy / Maint / Mgmt: −$549
• Net cashflow: $554

Break-even live

Break-even rent $1,915

Max offer price $225,000

Occupancy floor 74%

Sensitivity live

Price	-10% $681	-5% $618	+0% $554	+5% $490	+10% $427
Rent	-10% $347	-5% $451	+0% $554	+5% $657	+10% $761
Rate	-1.0pp $667	-0.5pp $611	base $554	+0.5pp $496	+1.0pp $436

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: $56,250
• Closing costs: $6,750
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
827 Porter St Joliet, IL	3.0	1.0	1000	$2,250	$2.25	26d	1	1.03mi

Listing history 23 events

1. 2026-06-21
   statusdays on market $225,000 Contingent - Continue to Show 31 DOM
2. 2026-06-18
   days on market $225,000 Active 28 DOM
3. 2026-06-17
   days on market $225,000 Active 27 DOM
4. 2026-06-16
   days on market $225,000 Active 26 DOM
5. 2026-06-15
   days on market $225,000 Active 25 DOM
6. 2026-06-13
   pricedays on market $225,000 Active 23 DOM
7. 2026-06-09
   days on market $250,000 Active 19 DOM
8. 2026-06-08
   days on market $250,000 Active 18 DOM
9. 2026-06-07
   days on market $250,000 Active 17 DOM
10. 2026-06-04
    days on market $250,000 Active 14 DOM
11. 2026-06-03
    days on market $250,000 Active 13 DOM
12. 2026-06-02
    days on market $250,000 Active 12 DOM
13. 2026-06-01
    days on market $250,000 Active 11 DOM
14. 2026-05-31
    days on market $250,000 Active 10 DOM
15. 2026-05-22
    listed $250,000 Active
16. 2024-10-07
    historical $1,175
17. 2024-10-03
    listed $1,175
18. 2023-08-29
    historical $1,000
19. 2023-08-19
    listed $1,000
20. 2023-08-10
    historical $1,100
21. 2023-07-23
    price $1,100
22. 2022-11-22
    historical
23. 2022-11-19
    listed Active

ⓘ 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: $2,867 · $239/mo
• Projected year-2 tax: $3,987 · $332/mo
• Expected delta: +$1,120/yr (+$93/mo · 39.1%)

ⓘ 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 0% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $31,390
• − Mortgage interest: −$12,603
• − Property taxes: −$2,867
• − Insurance: −$1,125
• − Repairs & maintenance: −$2,511
• − Management: −$2,511
• − Depreciation: −$6,545
• Taxable income: $3,227
• Est. tax owed @ 24.0%: −$775
• After-tax cash flow: $5,873/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: Lockport Twp Hsd 205
• NCES district ID: 1723350
• Math proficiency: 35% ▼ -5.00%
• Reading proficiency: 38% ▼ -4.00%
• Median HH income: $69,994
• Composite: 33.5/100
• National rank: #5440
• State rank: #153 of 620 in IL

Livability — Fairmont

• Score: 68/100
• State rank: #455
• US rank: #9333

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Fairmont, IL
• County: Will County · 412,448 people
• Metro: Chicago-Naperville-Elgin, IL-IN-WI
• Population (ZIP): 36,844
• Household income: $103,374
• Rent vs Own: 15.9% rent · 84.1% own
• Severe rent burden: 519.0

Population outlook (Will County) Hauer SSP2

• Today (2025): 705,368 people
• By 2030: 708,154 · +0.4%
• By 2040: 702,692 · -0.4%
• By 2050: 680,249 · -3.6%
• By 2075: 611,990 · -13.2%
• By 2100: 516,215 · -26.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (76%)
• Race & ethnicity: White 76% Hispanic / Latino 12% Two or more races 9% Black 7%
• Hispanic origin (detail): Mexican 9% Puerto Rican 1%
• Common ancestry: Romanian 18% Iranian 2% Lithuanian 2%
• Foreign-born: 7% · Canada
• Languages at home: 86% English-only · Spanish 7% Russian/Polish/Slavic 4% Other Indo-European 2%

Political lean MEDSL · Will

• 2024 margin: Toss-up / Even · D 50.1% · R 48.5% · Other 1.4%
• 2008→2024 swing: -11.6pp toward R · 2008: 13.2pp · 2024: 1.6pp
• All cycles: 2024: D+1.6 2020: D+8.3 2016: D+5.7 2012: D+3.7 2008: D+13.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -99.43%
• Current HPI: 201.5857
• Rent YoY: ▲ 3.91%
• 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

+22627.3% since first listed

9 events — show timeline

• 2026-05-22 Listed $250,000 MRED as Distributed by MLS Grid
• 2024-10-07 Rental Removed $1,175 APPFOLIO
• 2024-10-03 Listed for Rent $1,175 APPFOLIO
• 2023-08-29 Rental Removed $1,000 APPFOLIO
• 2023-08-19 Listed for Rent $1,000 APPFOLIO
• 2023-08-10 Rental Removed $1,100 APPFOLIO
• 2023-07-23 Price Changed $1,100 APPFOLIO
• 2022-11-22 Listing Removed — MRED as Distributed by MLS Grid
• 2022-11-19 Listed — MRED as Distributed by MLS Grid

Property tax history

+1.1%/yr

Latest (2024): $2,867 · +10.2% YoY. Source: county tax records.