1119 S Curtis Ave Unit A-1 · Kankakee, IL 60901

$48,900

1 bd · 1.0 ba · 900 sqft · Condo · 213 Days on market

Built 1965 $54/sqft · 21% below area Est $62k · 21% under $260/mo HOA · 27% of rent

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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 +24.2/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +7.8/10.0
• Rent growth +3.6/5.0
• Livability +3.1/5.0
• Condition / age +2.5/5.0
• Schools +0.8/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

WEST KANKAKEE 1 BEDROOM/1 BATHROOM CONDO FOR SALE - Recently update! Special features include: Ground floor, central air, rear patio off living room and appliances. Laundry facility adjacent to the unit also. A cozy apartment at a very affordable price! Monthly Condo association fee includes: gas, water, sewer, garbage, lawn and snow maintenance. Call today!

Key facts

• Ground floor
• Rear patio
• Laundry facility

Tags

• GROUND FLOOR
• CENTRAL AIR
• REAR PATIO
• LAUNDRY FACILITY

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $49k.

Deal economics

• At list price, monthly cash flow is $97 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($961 rent vs $49k).
• Recommended offer: $43k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.7% vs local median 5.6% in Kankakee — 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 62/100 on livability (#832 in IL) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A; Watch: crime F, amenities F, employment D-.
• Kankakee SD 111 (urban): math 6% / reading 13% proficiency, ranked #584 of 620 in IL (top 94%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 78% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: John Kennedy Middle Grade School (math 7% / reading 19%, grade F, #1,362 of 2,056 statewide, top 66%, 543 students, 0% FRL); Kankakee Junior High School (math 4% / reading 15%, grade F, #597 of 665 statewide, top 91%, 560 students, 0% FRL); Kankakee High School (math 6% / reading 10%, grade F, #587 of 693 statewide, top 85%, 1,513 students, 0% FRL) — zoned schools average 0% FRL vs 78% district-wide (78 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: Rents rising fast (+4.4%/yr); 115 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals lingering (median 46d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 80% of comp listings sitting > 30 days — soft ceiling on asking rent; 145 units permitted in Kankakee County in 2024 (5 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $338 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Kankakee County population projected at -19% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 4.4% rent growth), your $14k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 213 days — a 12% lower offer ($43k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 24y ago; this cycle's ask has dropped $19k (28%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: property tax is 3.1% of price; HOA is 27% of rent.

Recommended offer $43,032 (12.0% below list)

Questions for the listing agent

1. It's been on market 213 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1965 — 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. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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?
10. 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.
11. 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.
12. 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: 1.97% ✓
• Cap rate: 8.68%
• Cash-on-cash: 8.51%
• DSCR: 1.38
• GRM: 4.2

CMA / ARV

• ARV (median comp): $61,742
• List price: $48,900
• Delta: -20.80%
• Verdict: UNDERPRICED
• Comps: 10 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 4.38% rent growth · sell at horizon

5-year hold

• IRR: -0.3%
• Equity multiple: 0.99×
• Total profit: $-171
• Equity at exit: $7,291

10-year hold

• IRR: 11.9%
• Equity multiple: 2.05×
• Total profit: $14,393
• Equity at exit: $4,228

Cash invested: $13,692 (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 60901

• Home prices YoY: -32.5%
• Rents YoY: 4.4%
• Active inventory: 115
• Price-to-rent: 4.2×

Monthly cashflow live

• Estimated rent: $961 high
• Mortgage (P&I): −$256
• Tax from tax record: −$125 /mo · $1,502/yr
• Insurance: −$20
• HOA: −$260
• Vacancy / Maint / Mgmt: −$202
• Net cashflow: $97

Break-even live

Break-even rent $838

Max offer price $48,900

Occupancy floor 85%

Sensitivity live

Price	-10% $125	-5% $111	+0% $97	+5% $83	+10% $69
Rent	-10% $21	-5% $59	+0% $97	+5% $135	+10% $173
Rate	-1.0pp $122	-0.5pp $110	base $97	+0.5pp $84	+1.0pp $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: $12,225
• Closing costs: $1,467
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1100 W Jeffery St Kankakee, IL	1.0–3.0	1.0–2.0	900	$849	$0.94	19d	1	0.40mi
319 S 5th Ave Unit 4 Kankakee, IL	1.0	1.0	750	$1,115	$1.49	46d	1	1.11mi
243 S 5th Ave Unit 247 Kankakee, IL	2.0	1.0	1000	$1,150	$1.15	46d	1	1.17mi
555 S Schuyler Ave Unit 220-230 Kankakee, IL	—	1.0	850	$900	$1.06	46d	1	1.28mi
555 S Schuyler Ave Unit 280 Kankakee, IL	—	1.0	850	$850	$1.00	46d	1	1.28mi

HOA detail condo

• Monthly dues: $260 · $3,120/yr
• Likely covers: watersewertrashgas
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 28 events

1. 2026-06-22
   days on market $48,900 Active 213 DOM
2. 2026-06-19
   days on market $48,900 Active 210 DOM
3. 2026-06-18
   days on market $48,900 Active 209 DOM
4. 2026-06-17
   days on market $48,900 Active 208 DOM
5. 2026-06-16
   days on market $48,900 Active 207 DOM
6. 2026-06-15
   days on market $48,900 Active 206 DOM
7. 2026-06-14
   days on market $48,900 Active 204 DOM
8. 2026-06-13
   days on market $48,900 Active 203 DOM
9. 2026-06-10
   days on market $48,900 Active 201 DOM
10. 2026-06-09
    days on market $48,900 Active 200 DOM
11. 2026-06-08
    days on market $48,900 Active 199 DOM
12. 2026-06-07
    days on market $48,900 Active 198 DOM
13. 2026-06-03
    days on market $48,900 Active 194 DOM
14. 2026-06-02
    days on market $48,900 Active 193 DOM
15. 2026-06-01
    days on market $48,900 Active 192 DOM
16. 2026-05-31
    days on market $48,900 Active 191 DOM
17. 2026-05-30
    days on market $48,900 Active 190 DOM
18. 2026-04-22
    price $49,900 361-char remark

    Show marketing remark (361 chars)

    WEST KANKAKEE 1 BEDROOM/1 BATHROOM CONDO FOR SALE - Recently update! Special features include: Ground floor, central air, rear patio off living room and appliances. Laundry facility adjacent to the unit also. A cozy apartment at a very affordable price! Monthly Condo association fee includes: gas, water, sewer, garbage, lawn and snow maintenance. Call today!

19. 2026-03-17
    price $52,500 361-char remark

    Show marketing remark (361 chars)

    WEST KANKAKEE 1 BEDROOM/1 BATHROOM CONDO FOR SALE - Recently update! Special features include: Ground floor, central air, rear patio off living room and appliances. Laundry facility adjacent to the unit also. A cozy apartment at a very affordable price! Monthly Condo association fee includes: gas, water, sewer, garbage, lawn and snow maintenance. Call today!

20. 2026-02-10
    price $55,000 361-char remark

    Show marketing remark (361 chars)

    WEST KANKAKEE 1 BEDROOM/1 BATHROOM CONDO FOR SALE - Recently update! Special features include: Ground floor, central air, rear patio off living room and appliances. Laundry facility adjacent to the unit also. A cozy apartment at a very affordable price! Monthly Condo association fee includes: gas, water, sewer, garbage, lawn and snow maintenance. Call today!

21. 2026-01-06
    price $59,900 361-char remark

    Show marketing remark (361 chars)

    WEST KANKAKEE 1 BEDROOM/1 BATHROOM CONDO FOR SALE - Recently update! Special features include: Ground floor, central air, rear patio off living room and appliances. Laundry facility adjacent to the unit also. A cozy apartment at a very affordable price! Monthly Condo association fee includes: gas, water, sewer, garbage, lawn and snow maintenance. Call today!

22. 2025-12-02
    price $64,900 361-char remark

    Show marketing remark (361 chars)

    WEST KANKAKEE 1 BEDROOM/1 BATHROOM CONDO FOR SALE - Recently update! Special features include: Ground floor, central air, rear patio off living room and appliances. Laundry facility adjacent to the unit also. A cozy apartment at a very affordable price! Monthly Condo association fee includes: gas, water, sewer, garbage, lawn and snow maintenance. Call today!

23. 2025-11-21
    listed $67,500 Active 361-char remark

    Show marketing remark (361 chars)

    WEST KANKAKEE 1 BEDROOM/1 BATHROOM CONDO FOR SALE - Recently update! Special features include: Ground floor, central air, rear patio off living room and appliances. Laundry facility adjacent to the unit also. A cozy apartment at a very affordable price! Monthly Condo association fee includes: gas, water, sewer, garbage, lawn and snow maintenance. Call today!

24. 2025-06-01
    historical $850
25. 2025-05-07
    listed $850
26. 2023-06-12
    soldstatus $333,333
27. 2002-06-11
    soldstatus $41,500 325-char remark

    Show marketing remark (325 chars)

    NOTE: Condo fee is your Association fee and that covers heat, water, garbage, sewer, common areas and grounds keeping, as well as pool. All units have new roof, new furnace and new windows. Laundry facilities available in the complex. Upgrades are available, call listing agent for additional details. Own cheaper than rent!

28. 2002-03-04
    listed $41,500 325-char remark

    Show marketing remark (325 chars)

    NOTE: Condo fee is your Association fee and that covers heat, water, garbage, sewer, common areas and grounds keeping, as well as pool. All units have new roof, new furnace and new windows. Laundry facilities available in the complex. Upgrades are available, call listing agent for additional details. Own cheaper than rent!

ⓘ 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: $1,502 · $125/mo
• Projected year-2 tax: $1,502 · $125/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Taxation est. · year 1

• Rental income: $11,531
• − Mortgage interest: −$2,739
• − Property taxes: −$1,502
• − Insurance: −$244
• − Repairs & maintenance: −$922
• − Management: −$922
• − HOA: −$3,120
• − Depreciation: −$1,423
• Taxable income: $658
• Est. tax owed @ 24.0%: −$158
• After-tax cash flow: $1,008/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: Kankakee SD 111
• NCES district ID: 1720760
• Math proficiency: 6% ▼ -7.00%
• Reading proficiency: 13% ▼ -6.00%
• Median HH income: $37,968
• Composite: 8.03/100
• National rank: #9921
• State rank: #584 of 620 in IL

Livability — Kankakee

• Score: 62/100
• State rank: #832
• US rank: #16432

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Kankakee, IL
• County: Kankakee County · 61,801 people
• City population: 33,128
• Metro: Kankakee, IL
• Population (ZIP): 33,128
• Household income: $58,309
• Rent vs Own: 38.6% rent · 61.4% own
• Severe rent burden: 1317.0

Population outlook (Kankakee County) Hauer SSP2

• Today (2025): 105,479 people
• By 2030: 101,792 · -3.5%
• By 2040: 93,479 · -11.4%
• By 2050: 85,061 · -19.4%
• By 2075: 67,314 · -36.2%
• By 2100: 52,439 · -50.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.65)
• Race & ethnicity: White 47% Black 30% Hispanic / Latino 19% Two or more races 7%
• Hispanic origin (detail): Mexican 16%
• Common ancestry: Lithuanian 4% Romanian 4% Slovak 1%
• Foreign-born: 10% · Canada
• Languages at home: 82% English-only · Spanish 16%

Political lean MEDSL · Kankakee

• 2024 margin: Strong R (+20.8) · D 38.7% · R 59.5% · Other 1.8%
• 2008→2024 swing: -25.4pp toward R · 2008: 4.6pp · 2024: -20.8pp
• All cycles: 2024: R+20.8 2020: R+16.5 2016: R+13.3 2012: R+3.4 2008: D+4.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -92.12%
• Current HPI: 190.8755
• Rent YoY: ▲ 4.38%
• Metro: Kankakee, IL
• 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

+20.2% since first listed

11 events — show timeline

• 2026-04-22 Price Changed $49,900 MRED as Distributed by MLS Grid
• 2026-03-17 Price Changed $52,500 MRED as Distributed by MLS Grid
• 2026-02-10 Price Changed $55,000 MRED as Distributed by MLS Grid
• 2026-01-06 Price Changed $59,900 MRED as Distributed by MLS Grid
• 2025-12-02 Price Changed $64,900 MRED as Distributed by MLS Grid
• 2025-11-21 Listed $67,500 MRED as Distributed by MLS Grid
• 2025-06-01 Rental Removed $850 APPFOLIO
• 2025-05-07 Listed for Rent $850 APPFOLIO
• 2023-06-12 Sold (Public Records) $333,333 Public Records
• 2002-06-11 Sold (MLS) $41,500 MRED as Distributed by MLS Grid
• 2002-03-04 Listed $41,500 MRED as Distributed by MLS Grid

Property tax history

-1.1%/yr

Latest (2024): $1,502 · +3.8% YoY. Source: county tax records.