1949 Burr Oak Ave · Blue Island, IL 60406

$209,900

5 bd · 2.0 ba · 2,220 sqft · MultiFamily public records · 68 Days on market

Built 1904 4,800 sqft lot

---

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
• Livability +3.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.6/10.0
• 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

CURRENT OWNER GENERATES RENTAL INCOME FROM 3 SEPARETE UNITS IN THE BUILDING. NEW OWNER MUST APPLY WITH THE CITY TO CONFORM NEW OWNER CAN CONTINUE TO DO SO. INCLUDES A 2 CAR GARAGE. UNITS 1 AND 3 FEATURE NEWER WATER HEATERS AND NEWER BOILERS. WHILE THE 2 FLOOR UNIT HAS FORCED AIR HEATING. INVESTOR SPECIAL WITH STRONG IMCOME POTENTIAL. IN A GREAT LOCATION NEAR 1-57 AND I-294. SELLING AS IS CONDITION. COPY OF THE CITY INSPECTION REPORT ATTACHED. ASK YOUR AGENT FOR.

Key facts

• Newer water heaters
• Newer boilers
• Newer roof

Tags

• 2 CAR GARAGE
• NEWER WATER HEATERS
• NEWER BOILERS
• FORCED AIR HEATING
• NEWER ROOF

What this means for you Summary

Snapshot

• This is a 5-bed/2.0-bath multifamily listed at $210k.

Deal economics

• At list price, monthly cash flow is $1k ($16k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $210k).
• Recommended offer: $197k (6.0% below list) — sets the bar for market timing.
• Cap rate 14.0% vs local median 6.5% in Blue Island — 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 77/100 on livability (#159 in IL, #2,964 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: employment C-, schools F, crime F.
• Chsd 218 (suburban): math 14% / reading 20% proficiency, ranked #454 of 620 in IL (top 73%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 43 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 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 $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $59k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 68 days — a 6% lower offer ($197k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $68k; list at $210k implies a 211% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 2.8% of price; built in 1904 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $197,306 (6.0% below list)

Questions for the listing agent

1. It's been on market 68 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 1904 — 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 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?
7. Crime grade is F 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 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: 1.82% ✓
• Cap rate: 13.96%
• Cash-on-cash: 27.38%
• DSCR: 2.22
• GRM: 4.6

CMA / ARV

• ARV (median comp): $568,676
• List price: $209,900
• Delta: -63.09%
• Verdict: UNDERPRICED
• Comps: 4 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 21.5%
• Equity multiple: 1.88×
• Total profit: $51,585
• Equity at exit: $31,297

10-year hold

• IRR: 29.6%
• Equity multiple: 3.65×
• Total profit: $155,681
• Equity at exit: $18,148

Cash invested: $58,772 (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 60406

• Home prices YoY: -26.8%
• Active inventory: 43
• Price-to-rent: 13.7×

Monthly cashflow live

• Estimated rent: $3,817 high
• Mortgage (P&I): −$1,101
• Tax from tax record: −$486 /mo · $5,836/yr
• Insurance: −$87
• HOA: −$0
• Vacancy / Maint / Mgmt: −$802
• Net cashflow: $1,341

Break-even live

Break-even rent $2,120

Max offer price $209,900

Occupancy floor 60%

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

Units	Beds	Baths	Est. rent
▸ 3× units	2	1	$3,816
Total (3 units)			$3,817

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: $52,475
• Closing costs: $6,297
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2261 136th St Blue Island, IL	4.0	2.0	2230	$2,500	$1.12	16d	1	1.32mi
11549 S Church St Chicago, IL	4.0	4.5	1800	$3,200	$1.78	1d	1	1.40mi

Listing history 16 events

1. 2026-06-18
   days on market $209,900 Active 68 DOM
2. 2026-06-17
   days on market $209,900 Active 67 DOM
3. 2026-06-16
   days on market $209,900 Active 66 DOM
4. 2026-06-15
   days on market $209,900 Active 65 DOM
5. 2026-06-13
   days on market $209,900 Active 63 DOM
6. 2026-06-09
   days on market $209,900 Active 59 DOM
7. 2026-06-08
   days on market $209,900 Active 58 DOM
8. 2026-06-07
   days on market $209,900 Active 57 DOM
9. 2026-06-04
   days on market $209,900 Active 54 DOM
10. 2026-06-03
    days on market $209,900 Active 53 DOM
11. 2026-06-02
    days on market $209,900 Active 52 DOM
12. 2026-06-01
    days on market $209,900 Active 51 DOM
13. 2026-05-31
    days on market $209,900 Active 50 DOM
14. 2009-03-03
    historical
15. 2008-09-02
    listed
16. 1988-04-05
    soldstatus $67,500

ⓘ 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: $5,836 · $486/mo
• Projected year-2 tax: $5,836 · $486/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 4/10 Moderate FEMA zone X (unshaded) · 20% 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
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $45,804
• − Mortgage interest: −$11,758
• − Property taxes: −$5,836
• − Insurance: −$1,050
• − Repairs & maintenance: −$3,664
• − Management: −$3,664
• − Depreciation: −$6,106
• Taxable income: $13,726
• Est. tax owed @ 24.0%: −$3,294
• After-tax cash flow: $12,796/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: Chsd 218
• NCES district ID: 1706540
• Math proficiency: 14% ▼ -4.00%
• Reading proficiency: 20% ▼ -1.00%
• Median HH income: $57,166
• Composite: 16.09/100
• National rank: #9235
• State rank: #454 of 620 in IL

Livability — Blue Island

• Score: 77/100
• State rank: #159
• US rank: #2964

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Blue Island, IL
• City population: 24,887
• Population (ZIP): 24,887

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: Hispanic / Latino 44% Black 34% White 19% Two or more races 8%
• Hispanic origin (detail): Mexican 39%
• Common ancestry: Romanian 2% English 1% Iranian 1%
• Foreign-born: 19% · Canada
• Languages at home: 65% English-only · Spanish 33% Other Indo-European 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: ▼ -94.77%
• Current HPI: 259.492
• 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

3 events — show timeline

• 2009-03-03 Listing Removed — MRED as Distributed by MLS Grid
• 2008-09-02 Listed — MRED as Distributed by MLS Grid
• 1988-04-05 Sold (Public Records) $67,500 Public Records

Property tax history

+3.2%/yr

Latest (2023): $5,836 · +23.2% YoY. Source: county tax records.