1901 Chicago Rd · Chicago Heights, IL 60411

$46,000

6 bd · 2.0 ba · 2,256 sqft · MultiFamily public records · 19 Days on market

Built 1889 6,020 sqft lot ↓ 25% since listing

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Why this score? — see what drove the D 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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Rent growth +4.1/5.0
• Livability +3.6/5.0
• Condition / age +2.5/5.0
• Schools +0.7/10.0
• Appreciation +0.0/10.0

Multi-family units

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

Listing remarks

Situated right in the core of Chicago Heights, this classic 2-flat offers unparalleled convenience & stability- key factor in attracting and retaining quality tenants. The property features a total of 4 bedrooms & 2 bathrooms across two units. Spacious traditional floor plans include separate living rooms and dining areas, providing comfortability. Whether you're planning a full rehab to achieve top- tier rents or just need a low-lift rental to add to your portfolio, this is one not to miss. Sold AS-IS. New owner is subject to property inspection,

Key facts

• 6,020 sq ft lot
• 4 parking spots
• Built 1889

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $46k.

Deal economics

• At list price, monthly cash flow is $2k ($27k/yr) — positive. Per door: $1k/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $46k).
• Recommended offer: $45k (1.5% below list) — sets the bar for market timing.
• Cap rate 64.3% vs local median 6.4% in Chicago Heights — 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 71/100 on livability (#339 in IL) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: employment C-, crime F, amenities F.
• Bloom Twp Hsd 206 (suburban): math 8% / reading 9% proficiency, ranked #591 of 620 in IL (top 95%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Chicago Heights Middle School (math 9% / reading 24%, grade F, #482 of 665 statewide, top 73%, 940 students, 0% FRL); Bloom High School (math 7% / reading 8%, grade F, #589 of 693 statewide, top 86%, 1,737 students, 0% FRL).
• Market conditions: Rents rising fast (+6.5%/yr); 224 active listings in the ZIP; 6,272 units permitted in Cook County in 2024 (4,658 in 5+ unit buildings).
• At $3,217/mo this rent would consume 62% of the median local household income ($62k/yr) (locally 1714% 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 $318 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 6.5% rent growth), your $13k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 19 days — a 2% lower offer ($45k) is reasonable based on typical stale-listing flexibility.
• 16 sale attempts since 20y ago; this cycle's ask is 15% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $30k; list at $46k implies a 53% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1889 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $45,310 (1.5% below list)

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1889 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 6.99% ✓
• Cap rate: 64.30%
• Cash-on-cash: 207.16%
• DSCR: 10.22
• GRM: 1.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 6.48% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 12.33×
• Total profit: $145,870
• Equity at exit: $6,859

10-year hold

• IRR: —
• Equity multiple: 29.02×
• Total profit: $360,961
• Equity at exit: $3,977

Cash invested: $12,880 (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 60411

• Home prices YoY: -33.9%
• Rents YoY: 6.5%
• Active inventory: 224
• Price-to-rent: 2.4×

Monthly cashflow live

• Estimated rent: $3,217 high
• Mortgage (P&I): −$241
• Tax est. 1.5%: −$58 /mo · $690/yr
• Insurance: −$19
• HOA: −$0
• Vacancy / Maint / Mgmt: −$676
• Net cashflow: $2,224

Break-even live

Break-even rent $402

Max offer price $46,000

Occupancy floor 26%

Sensitivity live

Price	-10% $2,255	-5% $2,239	+0% $2,224	+5% $2,208	+10% $2,192
Rent	-10% $1,969	-5% $2,096	+0% $2,224	+5% $2,351	+10% $2,478
Rate	-1.0pp $2,247	-0.5pp $2,235	base $2,224	+0.5pp $2,212	+1.0pp $2,199

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$3,218
Total (2 units)			$3,217

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: $11,500
• Closing costs: $1,380
• Reserves months: —
• Total cash needed: —

Listing history 44 events

1. 2026-01-13
   status Pending
2. 2026-01-12
   historical
3. 2026-01-12
   price
4. 2026-01-10
   status Active
5. 2026-01-07
   status Pending
6. 2026-01-05
   price
7. 2025-12-30
   status Active
8. 2025-12-19
   status Pending
9. 2025-12-11
   listed Active
10. 2022-12-30
    historical
11. 2022-12-29
    status Temporarily No Showings
12. 2022-12-24
    historical
13. 2022-12-23
    status Temporarily No Showings
14. 2022-12-17
    historical
15. 2022-12-16
    status Temporarily No Showings
16. 2022-12-01
    historical
17. 2022-12-01
    status Temporarily No Showings
18. 2022-11-14
    historical
19. 2022-09-01
    price
20. 2022-08-16
    listed Active
21. 2022-08-16
    historical
22. 2022-06-29
    listed Active
23. 2022-06-29
    historical
24. 2022-06-24
    price
25. 2022-04-28
    listed Active
26. 2019-04-15
    historical
27. 2018-12-21
    listed New
28. 2018-12-20
    soldstatus $30,000
29. 2018-12-19
    soldstatus $30,000 Closed Sale
30. 2018-08-30
    status Pending
31. 2018-07-21
    price $36,900
32. 2018-05-26
    price $37,900
33. 2018-04-05
    listed $39,900 New
34. 2018-03-31
    historical
35. 2018-01-06
    price
36. 2017-08-07
    listed New
37. 2017-07-31
    historical
38. 2017-06-23
    status Reactivated
39. 2017-05-02
    historical Contingent
40. 2016-08-30
    price
41. 2016-06-28
    price
42. 2016-05-03
    listed New
43. 2007-11-04
    historical
44. 2006-08-05
    listed

ⓘ 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 3/10 Moderate FEMA zone X (unshaded) · 20% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥101°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $38,604
• − Mortgage interest: −$2,577
• − Property taxes: −$690
• − Insurance: −$230
• − Repairs & maintenance: −$3,088
• − Management: −$3,088
• − Depreciation: −$1,338
• Taxable income: $27,592
• Est. tax owed @ 24.0%: −$6,622
• After-tax cash flow: $20,060/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: Bloom Twp Hsd 206
• NCES district ID: 1706420
• Math proficiency: 8% ▼ -3.00%
• Reading proficiency: 9% ▼ -8.00%
• Median HH income: $39,795
• Composite: 7.4/100
• National rank: #9952
• State rank: #591 of 620 in IL

Livability — Chicago Heights

• Score: 71/100
• State rank: #339
• US rank: #6836

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Chicago Heights, IL
• County: Cook County · 4,486,803 people
• City population: 52,175
• Metro: Chicago-Naperville-Elgin, IL-IN-WI
• Population (ZIP): 52,175
• Household income: $62,073
• Rent vs Own: 34.8% rent · 65.2% own
• Severe rent burden: 1714.0

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 0.66)
• Race & ethnicity: Black 49% Hispanic / Latino 26% White 19% Two or more races 11%
• Hispanic origin (detail): Mexican 22% Puerto Rican 2%
• Common ancestry: Romanian 4% Portuguese 1% Lithuanian 1%
• Foreign-born: 12% · Canada
• Languages at home: 76% English-only · Spanish 21% Russian/Polish/Slavic 1% 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: ▼ -108.75%
• Current HPI: 212.4058
• Rent YoY: ▲ 6.48%
• 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

-24.8% since first listed

44 events — show timeline

• 2026-01-13 Pending — MRED as Distributed by MLS Grid
• 2026-01-12 Listing Removed — MRED as Distributed by MLS Grid
• 2026-01-12 Price Changed — MRED as Distributed by MLS Grid
• 2026-01-10 Relisted — MRED as Distributed by MLS Grid
• 2026-01-07 Pending — MRED as Distributed by MLS Grid
• 2026-01-05 Price Changed — MRED as Distributed by MLS Grid
• 2025-12-30 Relisted — MRED as Distributed by MLS Grid
• 2025-12-19 Pending — MRED as Distributed by MLS Grid
• 2025-12-11 Listed — MRED as Distributed by MLS Grid
• 2022-12-30 Listing Removed — MRED as Distributed by MLS Grid
• 2022-12-29 Relisted — MRED as Distributed by MLS Grid
• 2022-12-24 Listing Removed — MRED as Distributed by MLS Grid
• 2022-12-23 Relisted — MRED as Distributed by MLS Grid
• 2022-12-17 Listing Removed — MRED as Distributed by MLS Grid
• 2022-12-16 Relisted — MRED as Distributed by MLS Grid
• 2022-12-01 Listing Removed — MRED as Distributed by MLS Grid
• 2022-12-01 Relisted — MRED as Distributed by MLS Grid
• 2022-11-14 Listing Removed — MRED as Distributed by MLS Grid
• 2022-09-01 Price Changed — MRED as Distributed by MLS Grid
• 2022-08-16 Listing Removed — MRED as Distributed by MLS Grid
• 2022-08-16 Listed — MRED as Distributed by MLS Grid
• 2022-06-29 Listing Removed — MRED as Distributed by MLS Grid
• 2022-06-29 Listed — MRED as Distributed by MLS Grid
• 2022-06-24 Price Changed — MRED as Distributed by MLS Grid
• 2022-04-28 Listed — MRED as Distributed by MLS Grid
• 2019-04-15 Listing Removed — MRED as Distributed by MLS Grid
• 2018-12-21 Listed — MRED as Distributed by MLS Grid
• 2018-12-20 Sold (Public Records) $30,000 Public Records
• 2018-12-19 Sold (MLS) $30,000 MRED as Distributed by MLS Grid
• 2018-08-30 Pending — MRED as Distributed by MLS Grid
• 2018-07-21 Price Changed $36,900 MRED as Distributed by MLS Grid
• 2018-05-26 Price Changed $37,900 MRED as Distributed by MLS Grid
• 2018-04-05 Listed $39,900 MRED as Distributed by MLS Grid
• 2018-03-31 Listing Removed — MRED as Distributed by MLS Grid
• 2018-01-06 Price Changed — MRED as Distributed by MLS Grid
• 2017-08-07 Listed — MRED as Distributed by MLS Grid
• 2017-07-31 Listing Removed — MRED as Distributed by MLS Grid
• 2017-06-23 Relisted — MRED as Distributed by MLS Grid
• 2017-05-02 Contingent — MRED as Distributed by MLS Grid
• 2016-08-30 Price Changed — MRED as Distributed by MLS Grid
• 2016-06-28 Price Changed — MRED as Distributed by MLS Grid
• 2016-05-03 Listed — MRED as Distributed by MLS Grid
• 2007-11-04 Listing Removed — MRED as Distributed by MLS Grid
• 2006-08-05 Listed — MRED as Distributed by MLS Grid

Property tax history

+6.5%/yr

Latest (2023): $4,603 · -11.5% YoY. Source: county tax records.