18425 Torrence Ave · Lansing, IL 60438

$299,950

5 bd · 4.0 ba · 2,563 sqft · MultiFamily public records · 41 Days on market

Built 1963 4,791 sqft lot

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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 +28.5/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• 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

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 4 units. confirmed

Listing remarks MLS

Great investment property, live in one and rent out three, or rent all for most potential return. Solid brick building at great location, close to expressway, walking distance to shopping, park, forest preserve and public transportation. Newer roof (7 years), potential ROI over 15%. parking in the back of building, spacious units and common area, about 2563 sqft total according to the owner. priced to sell fast, not a short sale or foreclosure, but property will be sold as is.

Key facts

• Conveniently located
• 4,791 sq ft lot
• 4 parking spots

Tags

• INVESTMENT OPPORTUNITY
• WELL MAINTAINED BUILDING
• STRONG RENTAL POTENTIAL
• COMFORTABLE LIVING SPACES
• CONVENIENTLY LOCATED

Property features AI

Finance

• Other: Property contains 4 units; Zoning: MULTI; Lot dimensions approx. 40 x 119 (less than 0.25 acre); Parcel recorded in county records
• Financial info: Special service area: No

Exterior

• Parking: 4 parking spaces total; Assigned parking; Off-alley parking; Other parking options
• Utilities: Public water; Public sewer
• Home design: Two-to-four unit building; Fee simple ownership; Built over 60 years ago (constructed 61–70 years ago); Not rebuilt or rehabilitated
• Construction: Brick construction; Asphalt roof; Concrete perimeter foundation; Built before 1978
• Exterior features: Porch; Landscaped lot

Interior

• Kitchen: No appliances provided in listed unit types
• Bedrooms: 5 bedrooms total; Unit layout includes four 1-bedroom units and one 2-bedroom unit across floors
• Bathrooms: 4 full bathrooms
• Heating & cooling: Natural gas heating; Steam heating; Zoned heating; Other heating types
• Interior features: 11 total rooms; TV cable available; Street lights and sidewalks in the community; Park nearby; Curbs and paved streets
• Laundry & utility: Tenants pay electric (per unit notes)

What this means for you Summary

Snapshot

• This is a 3×1bd/1ba + 1×2bd/1ba units multifamily listed at $300k.

Deal economics

• At list price, monthly cash flow is $982 ($12k/yr) — positive. Per door: $245/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $300k).
• Recommended offer: $291k (3.0% below list) — sets the bar for market timing.
• Cap rate 10.2% vs local median 5.9% 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: Oak Glen Elem School (math 12% / reading 17%, grade F, #1,278 of 2,056 statewide, top 65%, 529 students, 0% FRL); Memorial Jr High School (math 9% / reading 20%, grade F, #517 of 665 statewide, top 79%, 860 students, 0% FRL); Thornton Fractnl So High School (math 11% / reading 14%, grade F, #504 of 693 statewide, top 73%, 1,927 students, 0% FRL).
• Market conditions: 136 active listings in the ZIP; 2 comparable units currently listed for rent nearby; solid renter incomes; 6,272 units permitted in Cook County in 2024 (4,658 in 5+ unit buildings).
• At $4,668/mo this rent would consume 74% of the median local household income ($76k/yr) (locally 830% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $9k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $84k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 41 days — a 3% lower offer ($291k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 9y ago; this cycle's ask has dropped $25k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $130k; list at $300k implies a 131% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 4.0% of price.

Recommended offer $290,951 (3.0% below list)

Questions for the listing agent

1. It's been on market 41 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1963 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. 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.
10. 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.
11. 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: 1.56% ✓
• Cap rate: 10.22%
• Cash-on-cash: 14.03%
• DSCR: 1.62
• GRM: 5.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 4.4%
• Equity multiple: 1.17×
• Total profit: $14,383
• Equity at exit: $44,724

10-year hold

• IRR: 14.0%
• Equity multiple: 2.13×
• Total profit: $94,907
• Equity at exit: $25,934

Cash invested: $83,986 (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: 136
• Price-to-rent: 21.8×

Monthly cashflow live

• Estimated rent: $4,668 medium
• Mortgage (P&I): −$1,573
• Tax from tax record: −$1,008 /mo · $12,096/yr
• Insurance: −$125
• HOA: −$0
• Vacancy / Maint / Mgmt: −$980
• Net cashflow: $982

Break-even live

Break-even rent $3,425

Max offer price $299,950

Occupancy floor 74%

Sensitivity live

Price	-10% $1,152	-5% $1,067	+0% $982	+5% $897	+10% $812
Rent	-10% $613	-5% $797	+0% $982	+5% $1,166	+10% $1,351
Rate	-1.0pp $1,133	-0.5pp $1,058	base $982	+0.5pp $904	+1.0pp $825

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

Units	Beds	Baths	Est. rent
▸ 3× units	1	1	$3,441
1× unit	2	1	$1,228
Total (4 units)			$4,668

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: $74,988
• Closing costs: $8,998
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
17540 Greenbay Ave Lansing, IL	6.0	3.0	1850	$2,950	$1.59	18d	1	1.42mi
17540 Greenbay Ave Lansing, IL	6.0	3.0	1850	$2,950	$1.59	16d	1	1.42mi

Listing history 27 events

1. 2026-06-21
   days on market $299,950 Active 41 DOM
2. 2026-06-18
   days on market $299,950 Active 38 DOM
3. 2026-06-17
   days on market $299,950 Active 37 DOM
4. 2026-06-16
   days on market $299,950 Active 36 DOM
5. 2026-06-15
   days on market $299,950 Active 35 DOM
6. 2026-06-13
   days on market $299,950 Active 33 DOM
7. 2026-06-09
   days on market $299,950 Active 29 DOM
8. 2026-06-08
   days on market $299,950 Active 28 DOM
9. 2026-06-08
   price $299,950 Active 27 DOM
10. 2026-06-07
    days on market $324,900 Active 27 DOM
11. 2026-06-04
    days on market $324,900 Active 24 DOM
12. 2026-06-03
    days on market $324,900 Active 23 DOM
13. 2026-06-02
    days on market $324,900 Active 22 DOM
14. 2026-06-01
    days on market $324,900 Active 21 DOM
15. 2026-05-31
    days on market $324,900 Active 20 DOM
16. 2026-05-11
    listed $324,900 Active
17. 2018-09-10
    soldstatus $130,000
18. 2018-09-04
    soldstatus $130,000 Closed Sale 481-char remark

    Show marketing remark (481 chars)

    Great investment property, live in one and rent out three, or rent all for most potential return. Solid brick building at great location, close to expressway, walking distance to shopping, park, forest preserve and public transportation. Newer roof (7 years), potential ROI over 15%. parking in the back of building, spacious units and common area, about 2563 sqft total according to the owner. priced to sell fast, not a short sale or foreclosure, but property will be sold as is.

19. 2018-08-20
    historical Contingent 481-char remark

    Show marketing remark (481 chars)

    Great investment property, live in one and rent out three, or rent all for most potential return. Solid brick building at great location, close to expressway, walking distance to shopping, park, forest preserve and public transportation. Newer roof (7 years), potential ROI over 15%. parking in the back of building, spacious units and common area, about 2563 sqft total according to the owner. priced to sell fast, not a short sale or foreclosure, but property will be sold as is.

20. 2018-08-08
    listed $139,000 New 481-char remark

    Show marketing remark (481 chars)

    Great investment property, live in one and rent out three, or rent all for most potential return. Solid brick building at great location, close to expressway, walking distance to shopping, park, forest preserve and public transportation. Newer roof (7 years), potential ROI over 15%. parking in the back of building, spacious units and common area, about 2563 sqft total according to the owner. priced to sell fast, not a short sale or foreclosure, but property will be sold as is.

21. 2017-07-05
    soldstatus $120,000
22. 2017-06-27
    soldstatus $119,900 Closed Sale 630-char remark

    Show marketing remark (630 chars)

    "Value Priced" Lansing four unit apartment building. This property is fully rented and producing income. NEW roof only 6 years ago. All brick with parking lot located on the east side of the building. Very convenient area of Lansing. Walking distance to shopping, parks, forest preserve and public transportation. Coin-op laundry produces additional income. NOTE: This is a privately owned property, not a foreclosure or short sale. Owner requests only serious showings so the tenants don't get disturbed. Owner will set up for serious buyers to see one or two units. Write offers subject to viewing the entire building.

23. 2017-05-16
    historical Contingent 630-char remark

    Show marketing remark (630 chars)

    "Value Priced" Lansing four unit apartment building. This property is fully rented and producing income. NEW roof only 6 years ago. All brick with parking lot located on the east side of the building. Very convenient area of Lansing. Walking distance to shopping, parks, forest preserve and public transportation. Coin-op laundry produces additional income. NOTE: This is a privately owned property, not a foreclosure or short sale. Owner requests only serious showings so the tenants don't get disturbed. Owner will set up for serious buyers to see one or two units. Write offers subject to viewing the entire building.

24. 2017-05-11
    listed $119,909 New 630-char remark

    Show marketing remark (630 chars)

    "Value Priced" Lansing four unit apartment building. This property is fully rented and producing income. NEW roof only 6 years ago. All brick with parking lot located on the east side of the building. Very convenient area of Lansing. Walking distance to shopping, parks, forest preserve and public transportation. Coin-op laundry produces additional income. NOTE: This is a privately owned property, not a foreclosure or short sale. Owner requests only serious showings so the tenants don't get disturbed. Owner will set up for serious buyers to see one or two units. Write offers subject to viewing the entire building.

25. 1991-08-23
    soldstatus $40,000
26. 1991-08-23
    soldstatus $40,000
27. 1991-08-01
    soldstatus $144,000

ⓘ 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: $12,096 · $1,008/mo
• Projected year-2 tax: $12,096 · $1,008/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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 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: $56,016
• − Mortgage interest: −$16,802
• − Property taxes: −$12,096
• − Insurance: −$1,500
• − Repairs & maintenance: −$4,481
• − Management: −$4,481
• − Depreciation: −$8,726
• Taxable income: $7,930
• Est. tax owed @ 24.0%: −$1,903
• After-tax cash flow: $9,878/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

+125.6% since first listed

12 events — show timeline

• 2026-05-11 Listed $324,900 MRED as Distributed by MLS Grid
• 2018-09-10 Sold (Public Records) $130,000 Public Records
• 2018-09-04 Sold (MLS) $130,000 MRED as Distributed by MLS Grid
• 2018-08-20 Contingent — MRED as Distributed by MLS Grid
• 2018-08-08 Listed $139,000 MRED as Distributed by MLS Grid
• 2017-07-05 Sold (Public Records) $120,000 Public Records
• 2017-06-27 Sold (MLS) $119,900 MRED as Distributed by MLS Grid
• 2017-05-16 Contingent — MRED as Distributed by MLS Grid
• 2017-05-11 Listed $119,909 MRED as Distributed by MLS Grid
• 1991-08-23 Sold (Public Records) $40,000 Public Records
• 1991-08-23 Sold (Public Records) $40,000 Public Records
• 1991-08-01 Sold (Public Records) $144,000 Public Records

Property tax history

+5.5%/yr

Latest (2023): $12,096 · +21.7% YoY. Source: county tax records.