17246 Burnham Ave · Lansing, IL 60438

$118,000

3 bd · 1.0 ba · 945 sqft · SingleFamily public records · 80 Days on market

Built 1954 2,744 sqft lot Est $151k · 22% 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 +28.9/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +8.8/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.0/10.0
• Appreciation +0.0/10.0

Listing remarks

GREAT INCOME PROPERTY WITH ROOM FOR HIGHER RENTS. Single-Family Ranch Style 2 Bedrooms/1 Bathroom Stove, Refrigerator, and New Carpet Provided 14' X 12' Master Bedroom with Walk In Closet and 12' X 10' 2nd Bedroom Eat In Style Kitchen Dining Room 20' X 12' Living Room Gas Forced Air Heat Washer/Dryer Hook ups Two Car Garage Fenced in Back Yard TENANT OCCUPIED W/ LEASE TILL 11/29/26 Tenant Pays $1,050 Rent/Month and has a $1,050.00 Security Deposit. Tenant Pays All Utilities, Phone, Cable, and Lawn Care Community Features Fifteen miles from downtown Chicago, IL Close to Major Highways via Torrence Avenue & I 80/I 94 interchanges

Key facts

• 2,744 sq ft lot
• 2 garage spots
• Built 1954

Property features AI

Finance

• Financial info: Special service area: No
• HOA & community: No master association fees required; Community features include curbs, sidewalks, street lights and paved streets

Exterior

• Parking: Detached garage; Side driveway; Garage door opener; Garage owned; Total 2 parking spaces (2 garage spaces)
• Utilities: Water from Lake Michigan and public supply; Public sewer; Electric service with circuit breakers; Cable available
• Home design: Detached single-family home; One-story layout; Fee simple ownership; Property currently being leased
• Construction: Approximately 71–80 years old; Aluminum siding and brick exterior; Stone foundation; Asphalt roof
• Exterior features: Fenced yard; Lot approximately 34 x 80; Lot less than 0.25 acre; Curbs, sidewalks, street lights and paved streets in the neighborhood

Interior

• Kitchen: Kitchen with eating area/table space; Laminate flooring in kitchen
• Bedrooms: Master bedroom (main level) with carpeted flooring; Bedroom 2 (lower level) 12 x 10 with carpeted flooring; Two bedrooms total
• Flooring: Carpet in living areas and bedrooms; Laminate in kitchen
• Bathrooms: One full bathroom
• Heating & cooling: Natural gas heating; Window air conditioning units
• Interior features: Screens on windows; Foyer; Dining room; Family room; Living room
• Laundry & utility: Laundry area located in the kitchen; Gas dryer hookup

🏷️ Possibly a rental listed for sale. The $118,000 price doesn't fit this home's estimated sale value (~$151,200) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $118k.

Deal economics

• At list price, monthly cash flow is $400 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $118k).
• Recommended offer: $111k (6.0% below list) — sets the bar for market timing.
• Cap rate 10.4% vs local median 5.8% in Lansing — 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 73/100 on livability (#296 in IL) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: crime D+, health & safety D+, amenities F.
• Thornton Fractional Twp Hsd 215 (suburban): math 9% / reading 13% proficiency, ranked #563 of 620 in IL (top 91%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Thornton Fractnl So High School (math 11% / reading 14%, grade F, #504 of 693 statewide, top 73%, 1,927 students, 0% FRL).
• Market conditions: 132 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals leasing fast (median 13d 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $816 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $33k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 80 days — a 6% lower offer ($111k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1954 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $110,920 (6.0% below list)

Questions for the listing agent

1. It's been on market 80 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 1954 — 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 D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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: 1.38% ✓
• Cap rate: 10.36%
• Cash-on-cash: 14.53%
• DSCR: 1.65
• GRM: 6.0

CMA / ARV

• ARV (on-the-fly): $151,200
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
17222 Roy St	0.13mi	2/1.0 (-1)	945 (0%)	1mo	$149,900	$159	88
17157 Chicago Ave	0.24mi	3/1.0	931 (-2%)	4mo	$179,800	$193	83
3137 176th St	0.42mi	3/1.0	980 (+4%)	2mo	$190,000	$194	73
17115 Park Ave	0.24mi	3/1.0	1,030 (+9%)	2mo	$179,999	$175	72
1554 Burnham Ave	0.46mi	2/1.0 (-1)	945 (0%)	2mo	$125,000	$132	72
17053 Lorenz Ave	0.25mi	3/1.0	1,070 (+13%)	4mo	$120,000	$112	63
3346 Bernice Rd	0.27mi	3/1.5	1,056 (+12%)	7mo	$155,000	$147	60
1647 Shirley Dr	0.74mi	2/1.0 (-1)	972 (+3%)	4mo	$53,500	$55	52
17617 Burnham Ave	0.45mi	2/1.0 (-1)	812 (-14%)	2mo	$130,100	$160	49
17831 Walter St	0.73mi	2/1.0 (-1)	854 (-10%)	1mo	$185,900	$218	44
1481 Lincoln Pl	0.71mi	3/1.5	1,047 (+11%)	6mo	$85,000	$81	41
17511 Maple Ave	0.67mi	4/2.0 (+1)	1,036 (+10%)	5mo	$219,000	$211	40

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: 5.0%
• Equity multiple: 1.19×
• Total profit: $6,426
• Equity at exit: $17,594

10-year hold

• IRR: 14.5%
• Equity multiple: 2.17×
• Total profit: $38,686
• Equity at exit: $10,202

Cash invested: $33,040 (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 60438

• Active inventory: 132
• Price-to-rent: 6.0×

Monthly cashflow live

• Estimated rent: $1,633 high
• Mortgage (P&I): −$619
• Tax from tax record: −$222 /mo · $2,661/yr
• Insurance: −$49
• HOA: −$0
• Vacancy / Maint / Mgmt: −$343
• Net cashflow: $400

Break-even live

Break-even rent $1,126

Max offer price $118,000

Occupancy floor 70%

Sensitivity live

Price	-10% $467	-5% $433	+0% $400	+5% $367	+10% $333
Rent	-10% $271	-5% $336	+0% $400	+5% $464	+10% $529
Rate	-1.0pp $459	-0.5pp $430	base $400	+0.5pp $369	+1.0pp $338

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: $29,500
• Closing costs: $3,540
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3069 Bernice Rd Apt 2N Lansing, IL	3.0	1.0	950	$1,535	$1.62	21d	1	0.24mi
3069 Bernice Rd Apt 2S Lansing, IL	3.0	1.0	950	$1,535	$1.62	3d	1	0.24mi
3023 Bernice Rd Apt 2S Lansing, IL	3.0	1.0	1000	$1,600	$1.60	2d	1	0.27mi
3020 178th St Unit C1 Lansing, IL	2.0	1.0	900	$1,550	$1.72	2d	1	0.70mi
3020 178th St Apt C7 Lansing, IL	2.0	1.0	900	$1,550	$1.72	25d	1	0.70mi
3649 173rd Ct Lansing, IL	2.0	2.0	972	$1,357	$1.40	25d	1	0.71mi
1539 Wentworth Ave Unit 3W Calumet City, IL	3.0	1.0	1100	$1,700	$1.55	13d	1	0.72mi
17723 Exchange Ave Unit 17723-1N Lansing, IL	3.0	2.0	1100	$1,800	$1.64	2d	1	0.85mi
1338 Wentworth Ave Unit 1338 Calumet City, IL	2.0	1.0	800	$1,430	$1.79	25d	1	1.08mi
18335 Sherman St Unit 3 Lansing, IL	3.0	1.0	1000	$1,700	$1.70	2d	1	1.50mi

Listing history 15 events

1. 2026-06-18
   days on market $118,000 Active 80 DOM
2. 2026-06-17
   days on market $118,000 Active 79 DOM
3. 2026-06-16
   days on market $118,000 Active 78 DOM
4. 2026-06-15
   days on market $118,000 Active 77 DOM
5. 2026-06-13
   days on market $118,000 Active 75 DOM
6. 2026-06-09
   days on market $118,000 Active 71 DOM
7. 2026-06-08
   days on market $118,000 Active 70 DOM
8. 2026-06-07
   days on market $118,000 Active 69 DOM
9. 2026-06-04
   days on market $118,000 Active 66 DOM
10. 2026-06-03
    days on market $118,000 Active 65 DOM
11. 2026-06-02
    days on market $118,000 Active 64 DOM
12. 2026-06-01
    days on market $118,000 Active 63 DOM
13. 2026-05-31
    days on market $118,000 Active 62 DOM
14. 2026-05-14
    price $118,000
15. 2026-03-28
    listed $119,000 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: $2,661 · $222/mo
• Projected year-2 tax: $2,670 · $222/mo
• Expected delta: +$9/yr (+$1/mo · 0.3%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 3/10 Moderate FEMA zone X (shaded) · 20% 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 5 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,591
• − Mortgage interest: −$6,610
• − Property taxes: −$2,661
• − Insurance: −$590
• − Repairs & maintenance: −$1,567
• − Management: −$1,567
• − Depreciation: −$3,433
• Taxable income: $3,163
• Est. tax owed @ 24.0%: −$759
• After-tax cash flow: $4,041/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: Thornton Fractional Twp Hsd 215
• NCES district ID: 1738940
• Math proficiency: 9% ▼ -3.00%
• Reading proficiency: 13% ▼ -3.00%
• Median HH income: $48,207
• Composite: 10.27/100
• National rank: #9793
• State rank: #563 of 620 in IL

Livability — Lansing

• Score: 73/100
• State rank: #296
• US rank: #5698

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lansing, IL
• County: Cook County · 4,486,803 people
• City population: 28,806
• Metro: Chicago-Naperville-Elgin, IL-IN-WI
• Population (ZIP): 28,806
• Household income: $75,681
• Rent vs Own: 27.7% rent · 72.3% own
• Severe rent burden: 830.0

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: Diverse neighborhood (Simpson 0.65)
• Race & ethnicity: Black 51% White 25% Hispanic / Latino 18% Two or more races 7% Asian 2%
• Hispanic origin (detail): Mexican 15%
• Common ancestry: Romanian 5% Iranian 3% Lithuanian 1%
• Foreign-born: 10% · Canada
• Languages at home: 83% English-only · Spanish 12% Vietnamese 1% French/Haitian/Cajun 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: ▼ -151.65%
• Current HPI: 210.3398
• Rent YoY: —
• 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

-0.8% since first listed

2 events — show timeline

• 2026-05-14 Price Changed $118,000 MRED as Distributed by MLS Grid
• 2026-03-28 Listed $119,000 MRED as Distributed by MLS Grid

Property tax history

+4.1%/yr

Latest (2023): $2,661 · +17.8% YoY. Source: county tax records.