14024 S Manistee Ave · Burnham, IL 60633

$119,000

2 bd · 1.0 ba · 812 sqft · SingleFamily public records · 53 Days on market

Built 1949 5,400 sqft lot Est $90k · 32% over

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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 +26.7/30.0
• DSCR +9.1/10.0
• 1% rule +7.2/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.0/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks

Investor special with incredible potential! This 2-bedroom, 1-bath home offers a fantastic opportunity for renovation and value-add. The layout includes a spacious living room, kitchen, and dedicated laundry area, providing a solid foundation to reimagine the space. The property features a generously sized yard-perfect for outdoor living, expansion, or entertaining-and a standout oversized heated garage, ideal for storage, a workshop, or year-round use. With the right vision and updates, this property can truly shine. Whether you're an investor looking for your next project or a buyer ready to build equity, this is a prime opportunity you won't want to miss! Near the South Shore Train and

Key facts

• Spacious living room
• 5,400 sq ft lot
• 2 garage spots

Tags

• SPACIOUS LIVING ROOM
• DEDICATED LAUNDRY AREA
• GENEROUSLY SIZED YARD
• OVERSIZED HEATED GARAGE

Property features AI

Finance

• Other: Property not rebuilt or rehabilitated; Assessor listed living area and total finished area approximately 812
• HOA & community: No master association fee required

Exterior

• Parking: Detached garage providing about 2.5 garage/parking spaces
• Utilities: Water from Lake Michigan; Public sewer
• Home design: Detached single-family home; One-story; Fee simple ownership; Home built before 1978 (71–80 years old)
• Construction: Frame construction
• Exterior features: Lot dimensions approximately 40 x 135; Lot smaller than 0.25 acre; Commuter train and interstate access nearby

Interior

• Kitchen: Kitchen (main level, 12 x 10)
• Bedrooms: Master bedroom (main level, 12 x 11); Bedroom 2 (main level, 10 x 9); Two bedrooms total
• Bathrooms: 1 full bathroom
• Heating & cooling: Natural gas heating
• Interior features: Total of 4 rooms; Dining room; Family room; Living room (main level, 18 x 12)
• Laundry & utility: Main-level laundry (9 x 9)

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $119k.

Deal economics

• At list price, monthly cash flow is $321 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $119k).
• Recommended offer: $115k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 74/100 on livability (#264 in IL, #4,889 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: employment D+, schools F, 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.
• Market conditions: 22 active listings in the ZIP; 20 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 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 $823 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 ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 53 days — a 3% lower offer ($115k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $40k; list at $119k implies a 198% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1949 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $115,430 (3.0% below list)

Questions for the listing agent

1. It's been on market 53 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: 1.22% ✓
• Cap rate: 9.53%
• Cash-on-cash: 11.56%
• DSCR: 1.51
• GRM: 6.9

CMA / ARV

• ARV (on-the-fly): $90,132
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
14024 S Manistee Ave	0.00mi	2/1.0	812 (0%)	0mo	$90,000	$111	100
14034 S Saginaw Ave	0.13mi	2/1.0	900 (+11%)	11mo	$38,000	$42	67

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: 0.9%
• Equity multiple: 1.04×
• Total profit: $1,179
• Equity at exit: $17,743

10-year hold

• IRR: 10.6%
• Equity multiple: 1.82×
• Total profit: $27,435
• Equity at exit: $10,289

Cash invested: $33,320 (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 60633

• Home prices YoY: -24.8%
• Active inventory: 22
• Price-to-rent: 6.9×

Monthly cashflow live

• Estimated rent: $1,447 high
• Mortgage (P&I): −$624
• Tax est. 1.5%: −$149 /mo · $1,785/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$304
• Net cashflow: $321

Break-even live

Break-even rent $1,041

Max offer price $119,000

Occupancy floor 73%

Sensitivity live

Price	-10% $403	-5% $362	+0% $321	+5% $280	+10% $239
Rent	-10% $207	-5% $264	+0% $321	+5% $378	+10% $435
Rate	-1.0pp $381	-0.5pp $351	base $321	+0.5pp $290	+1.0pp $259

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: $29,750
• Closing costs: $3,570
• Reserves months: —
• Total cash needed: —

Rent comps 20 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
14446 Torrence Ave Unit 2C Burnham, IL	1.0	1.0	700	$1,195	$1.71	25d	1	0.58mi
14500 Torrence Ave Unit 1B Burnham, IL	1.0	1.0	675	$1,195	$1.77	25d	1	0.59mi
14501 Torrence Ave Unit 1B Chicago, IL	1.0	1.0	675	$1,095	$1.62	10d	1	0.60mi
14501 S Torrence Ave Chicago, IL	1.0–2.0	1.0	737	$1,250	$1.69	13d	2	0.60mi
14501 Torrence Ave Unit 3A Burnham, IL	2.0	1.0	800	$1,250	$1.56	10d	1	0.60mi
14507 Torrence Ave Unit 1C Burnham, IL	1.0	1.0	675	$1,095	$1.62	10d	1	0.61mi
14507 Torrence Ave Unit 3C Burnham, IL	1.0	1.0	675	$1,150	$1.70	10d	1	0.62mi
101 Oglesby Ave Calumet City, IL	2.0	1.0	1000	$1,800	$1.80	22d	1	0.72mi
101 Oglesby Ave Calumet City, IL	2.0	1.0	1100	$1,800	$1.64	12d	1	0.72mi
101 Oglesby Ave Calumet City, IL	2.0	1.0	1000	$1,800	$1.80	20d	1	0.72mi
1601 Downs Dr Unit 3S Calumet City, IL	2.0	1.0	750	$1,400	$1.87	25d	1	0.72mi
2790 E State St Apt 2E Burnham, IL	3.0	2.0	1100	$1,695	$1.54	25d	1	0.75mi
250 Yates Ave Unit 1616 Dolton 1E Calumet City, IL	2.0	1.0	875	$1,465	$1.67	8d	1	0.80mi
1860 State St Calumet City, IL	3.0	1.0	1100	$1,800	$1.64	18d	1	1.01mi
460 Hoxie Ave Unit R Calumet City, IL	2.0	1.0	800	$1,650	$2.06	14d	1	1.17mi
460 Hoxie Ave Unit R Calumet City, IL	2.0	1.0	800	$1,650	$2.06	8d	1	1.17mi
405 Clyde Ave Calumet City, IL	3.0	1.0	973	$2,300	$2.36	1d	1	1.28mi
486 Buffalo Ave Unit 1C Calumet City, IL	1.0	1.0	800	$1,500	$1.88	25d	1	1.37mi
486 Buffalo Ave Unit 1D Calumet City, IL	1.0	1.0	800	$975	$1.22	25d	1	1.38mi
14610 Blackstone Ave Dolton, IL	3.0	1.0	1017	$2,400	$2.36	6d	1	1.49mi

Listing history 11 events

1. 2026-06-07
   statusdays on market $119,000 Pending 53 DOM
2. 2026-06-04
   days on market $119,000 Contingent - Continue to Show 52 DOM
3. 2026-06-03
   days on market $119,000 Contingent - Continue to Show 51 DOM
4. 2026-06-02
   days on market $119,000 Contingent - Continue to Show 50 DOM
5. 2026-06-01
   days on market $119,000 Contingent - Continue to Show 49 DOM
6. 2026-05-31
   days on market $119,000 Contingent - Continue to Show 48 DOM
7. 2026-05-14
   historical Contingent - Continue to Show
8. 2026-04-13
   listed $119,000 Active
9. 1993-05-21
   soldstatus $40,000
10. 1989-08-23
    soldstatus $6,750
11. 1983-02-01
    soldstatus $28,000

ⓘ 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 5/10 Major FEMA zone X (shaded) · 24% 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 · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,367
• − Mortgage interest: −$6,666
• − Property taxes: −$1,785
• − Insurance: −$595
• − Repairs & maintenance: −$1,389
• − Management: −$1,389
• − Depreciation: −$3,462
• Taxable income: $2,080
• Est. tax owed @ 24.0%: −$499
• After-tax cash flow: $3,352/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 — Burnham

• Score: 74/100
• State rank: #264
• US rank: #4889

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Burnham, IL
• Population (ZIP): 12,485

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 45% Black 29% White 25% Two or more races 13%
• Hispanic origin (detail): Mexican 40% Puerto Rican 3%
• Common ancestry: Romanian 12% Armenian 2% Iranian 1%
• Foreign-born: 15% · Canada
• Languages at home: 69% English-only · Spanish 27% Arabic 2% 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: ▼ -90.46%
• Current HPI: 274.4127
• 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

+325.0% since first listed

5 events — show timeline

• 2026-05-14 Contingent — MRED as Distributed by MLS Grid
• 2026-04-13 Listed $119,000 MRED as Distributed by MLS Grid
• 1993-05-21 Sold (Public Records) $40,000 Public Records
• 1989-08-23 Sold (Public Records) $6,750 Public Records
• 1983-02-01 Sold (Public Records) $28,000 Public Records

Property tax history

-12.7%/yr

Latest (2017): $236 · -45.0% YoY. Source: county tax records.