656 E 159th Pl · South Holland, IL 60473

$229,000

2 bd · 1.0 ba · 1,040 sqft · SingleFamily public records · 130 Days on market

Built 1955 6,076 sqft lot Est $164k · 39% over

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Why this score? — see what drove the F 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 +12.1/30.0
• 1% rule +5.2/10.0
• Livability +3.9/5.0
• DSCR +3.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +0.7/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Spacious all brick 3 bedroom ranch style home with full unfinished basement waiting for your decorating ideas! Side drive, private backyard, cul de sac, beautiful tree lined street. You won't be disappointed! Home sold as is.

Key facts

• Private backyard
• Finished basement
• Cul-de-sac

Tags

• CUL-DE-SAC
• HARDWOOD FLOORS
• GRANITE COUNTERTOPS
• FINISHED BASEMENT
• PRIVATE BACKYARD
• SIDE DRIVE

Property features AI

Finance

• Other: Living area source: appraiser
• HOA & community: No master association fee required

Exterior

• Parking: Detached garage (garage owned) with approximately 1.5 garage/parking spaces
• Utilities: Public water; Public sewer
• Home design: Detached single-family home; One-story layout; Fee simple ownership; Rehab work completed (2025)
• Construction: Brick construction; Property age approximately 71–80 years; Built before 1978
• Exterior features: Lot dimensions approximately 100 x 60; Lot smaller than 0.25 acre

Interior

• Kitchen: Kitchen on main level (approx. 15 x 12)
• Bedrooms: 3 bedrooms (plus 1 possible; one bedroom below grade); Master bedroom on main level; Bedroom on second level (approx. 12 x 12); Bedroom on main level (approx. 12 x 10); Basement bedroom (approx. 15 x 15)
• Bathrooms: 2 full bathrooms; Basement includes bathroom(s)
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Finished full basement; 8 total rooms
• Laundry & utility: Laundry room

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $229k.

Deal economics

• At list price, monthly cash flow is $-52 ($-618/yr) — negative.
• To cash-flow at today's rent, offer at most $220k (4.0% below list).
• Meets the 1% rule at list price ($2k rent vs $229k).
• Recommended offer: $202k (12.0% below list) — sets the bar for market timing.
• Cap rate 6.0% vs local median 8.4% in South Holland — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

Location & tenants

• Location reads 77/100 on livability (#167 in IL, #3,071 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, housing A+, cost of living A; Watch: crime C-, amenities C-, schools D+.
• Thornton Twp Hsd 205 (suburban): math 7% / reading 8% proficiency, ranked #594 of 620 in IL (top 96%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 135 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals at typical pace (median 19d 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 $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 130 days — a 12% lower offer ($202k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 11y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $63k; list at $229k implies a 265% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 3.2% of price; built in 1955 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $201,520 (12.0% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 130 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
3. Built in 1955 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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. 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?
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 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: 1.02% ✓
• Cap rate: 6.02%
• Cash-on-cash: -0.96%
• DSCR: 0.96
• GRM: 8.2

CMA / ARV

• ARV (on-the-fly): $164,320
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
15944 School St	0.14mi	2/1.0	1,008 (-3%)	4mo	$175,000	$174	85
519 E 161st St	0.31mi	3/2.0 (+1)	1,024 (-2%)	5mo	$210,000	$205	70
15509 Rose Dr	0.53mi	2/1.0	1,100 (+6%)	0mo	$135,000	$123	65
15519 Ellis Ave	0.61mi	2/2.0	1,024 (-2%)	4mo	$133,000	$130	62
15539 Minerva Ave	0.66mi	3/1.5 (+1)	1,050 (+1%)	2mo	$134,000	$128	59
15722 Woodlawn East Ave	0.63mi	3/1.5 (+1)	1,015 (-2%)	1mo	$101,000	$100	59
15503 Park Ln	0.57mi	3/2.0 (+1)	968 (-7%)	0mo	$170,000	$176	53
930 E 161 Pl	0.37mi	3/1.5 (+1)	1,164 (+12%)	5mo	$149,574	$129	51
717 E 154th St	0.65mi	3/1.0 (+1)	1,120 (+8%)	2mo	$177,000	$158	50
15726 Ingleside Ave	0.35mi	3/2.0 (+1)	1,171 (+13%)	4mo	$220,000	$188	50
823 E 163rd St	0.47mi	3/1.0 (+1)	1,184 (+14%)	1mo	$197,500	$167	49
509 E 161st Pl	0.37mi	3/2.0 (+1)	1,176 (+13%)	4mo	$182,000	$155	49

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: -17.8%
• Equity multiple: 0.37×
• Total profit: $-40,160
• Equity at exit: $34,145

10-year hold

• IRR: -9.7%
• Equity multiple: 0.40×
• Total profit: $-38,264
• Equity at exit: $19,800

Cash invested: $64,120 (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 60473

• Active inventory: 135
• Price-to-rent: 8.2×

Monthly cashflow live

• Estimated rent: $2,339 high
• Mortgage (P&I): −$1,201
• Tax from tax record: −$603 /mo · $7,232/yr
• Insurance: −$95
• HOA: −$0
• Vacancy / Maint / Mgmt: −$491
• Net cashflow: $-52

Break-even live

Break-even rent $2,404

Max offer price $219,896

Occupancy floor 97%

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: $57,250
• Closing costs: $6,870
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
16246 Dobson Ave South Holland, IL	3.0	2.0	1250	$3,170	$2.54	1d	1	0.59mi
16001 Avalon Ave South Holland, IL	3.0	2.0	1136	$3,330	$2.93	6d	1	0.69mi
15324 Doctor Martin Luther King Junior Dr Unit 1B Dolton, IL	1.0	1.0	725	$985	$1.36	18d	1	0.81mi
15238 Doctor Martin Luther King Junior Dr Unit 2W Dolton, IL	2.0	1.0	800	$1,500	$1.88	10d	1	0.90mi
1450 E 154th Pl Dolton, IL	1.0	1.0	800	$1,250	$1.56	24d	1	1.08mi
14916 Langley Ave Dolton, IL	3.0	1.5	1418	$2,500	$1.76	24d	1	1.22mi
14817 Champlain Ave Dolton, IL	2.0	1.0	980	$2,430	$2.48	22d	1	1.35mi

Listing history 24 events

1. 2026-06-16
   days on market $229,000 Active 130 DOM
2. 2026-06-15
   days on market $229,000 Active 129 DOM
3. 2026-06-13
   days on market $229,000 Active 127 DOM
4. 2026-06-13
   days on market $229,000 Active 126 DOM
5. 2026-06-09
   days on market $229,000 Active 123 DOM
6. 2026-06-08
   days on market $229,000 Active 122 DOM
7. 2026-06-07
   days on market $229,000 Active 121 DOM
8. 2026-06-04
   days on market $229,000 Active 118 DOM
9. 2026-06-03
   days on market $229,000 Active 117 DOM
10. 2026-06-02
    days on market $229,000 Active 116 DOM
11. 2026-06-01
    days on market $229,000 Active 115 DOM
12. 2026-05-31
    days on market $229,000 Active 114 DOM
13. 2026-05-12
    price $229,000
14. 2026-02-06
    listed $237,000 Active
15. 2016-04-22
    soldstatus $62,671 Closed Sale 226-char remark

    Show marketing remark (226 chars)

    Spacious all brick 3 bedroom ranch style home with full unfinished basement waiting for your decorating ideas! Side drive, private backyard, cul de sac, beautiful tree lined street. You won't be disappointed! Home sold as is.

16. 2016-03-01
    status Pending 226-char remark

    Show marketing remark (226 chars)

    Spacious all brick 3 bedroom ranch style home with full unfinished basement waiting for your decorating ideas! Side drive, private backyard, cul de sac, beautiful tree lined street. You won't be disappointed! Home sold as is.

17. 2016-02-26
    status Reactivated 226-char remark

    Show marketing remark (226 chars)

    Spacious all brick 3 bedroom ranch style home with full unfinished basement waiting for your decorating ideas! Side drive, private backyard, cul de sac, beautiful tree lined street. You won't be disappointed! Home sold as is.

18. 2016-02-19
    status Pending 226-char remark

    Show marketing remark (226 chars)

    Spacious all brick 3 bedroom ranch style home with full unfinished basement waiting for your decorating ideas! Side drive, private backyard, cul de sac, beautiful tree lined street. You won't be disappointed! Home sold as is.

19. 2016-02-12
    price $68,670 226-char remark

    Show marketing remark (226 chars)

    Spacious all brick 3 bedroom ranch style home with full unfinished basement waiting for your decorating ideas! Side drive, private backyard, cul de sac, beautiful tree lined street. You won't be disappointed! Home sold as is.

20. 2016-02-12
    status Reactivated 226-char remark

    Show marketing remark (226 chars)

    Spacious all brick 3 bedroom ranch style home with full unfinished basement waiting for your decorating ideas! Side drive, private backyard, cul de sac, beautiful tree lined street. You won't be disappointed! Home sold as is.

21. 2016-02-05
    status Pending 226-char remark

    Show marketing remark (226 chars)

    Spacious all brick 3 bedroom ranch style home with full unfinished basement waiting for your decorating ideas! Side drive, private backyard, cul de sac, beautiful tree lined street. You won't be disappointed! Home sold as is.

22. 2016-01-27
    status Reactivated 226-char remark

    Show marketing remark (226 chars)

    Spacious all brick 3 bedroom ranch style home with full unfinished basement waiting for your decorating ideas! Side drive, private backyard, cul de sac, beautiful tree lined street. You won't be disappointed! Home sold as is.

23. 2016-01-13
    status Pending 226-char remark

    Show marketing remark (226 chars)

    Spacious all brick 3 bedroom ranch style home with full unfinished basement waiting for your decorating ideas! Side drive, private backyard, cul de sac, beautiful tree lined street. You won't be disappointed! Home sold as is.

24. 2015-11-18
    listed $76,300 New 226-char remark

    Show marketing remark (226 chars)

    Spacious all brick 3 bedroom ranch style home with full unfinished basement waiting for your decorating ideas! Side drive, private backyard, cul de sac, beautiful tree lined street. You won't be disappointed! Home sold as is.

ⓘ 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: $7,232 · $603/mo
• Projected year-2 tax: $7,232 · $603/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 3/10 Moderate FEMA zone X (unshaded) · 18% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥103°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: $28,063
• − Mortgage interest: −$12,828
• − Property taxes: −$7,232
• − Insurance: −$1,145
• − Repairs & maintenance: −$2,245
• − Management: −$2,245
• − Depreciation: −$6,662
• Taxable loss: −$4,294
• Est. tax savings @ 24.0%: +$1,031
• After-tax cash flow: $412/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 Twp Hsd 205
• NCES district ID: 1738970
• Math proficiency: 7% ▬ 0.00%
• Reading proficiency: 8% ▼ -2.00%
• Median HH income: $43,392
• Composite: 6.92/100
• National rank: #9976
• State rank: #594 of 620 in IL

Livability — South Holland

• Score: 77/100
• State rank: #167
• US rank: #3071

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: South Holland, IL
• City population: 21,407
• Population (ZIP): 21,407

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: Predominantly Black (75%)
• Race & ethnicity: Black 75% White 10% Hispanic / Latino 10% Two or more races 3% Asian 1%
• Hispanic origin (detail): Mexican 9% Puerto Rican 1%
• Common ancestry: Iranian 3% Romanian 2%
• Foreign-born: 6% · Canada, China
• Languages at home: 87% English-only · Spanish 8% Other Asian/Pacific 1% Russian/Polish/Slavic 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: ▼ -114.36%
• Current HPI: 201.2479
• 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

+200.1% since first listed

12 events — show timeline

• 2026-05-12 Price Changed $229,000 MRED as Distributed by MLS Grid
• 2026-02-06 Listed $237,000 MRED as Distributed by MLS Grid
• 2016-04-22 Sold (MLS) $62,671 MRED as Distributed by MLS Grid
• 2016-03-01 Pending — MRED as Distributed by MLS Grid
• 2016-02-26 Relisted — MRED as Distributed by MLS Grid
• 2016-02-19 Pending — MRED as Distributed by MLS Grid
• 2016-02-12 Price Changed $68,670 MRED as Distributed by MLS Grid
• 2016-02-12 Relisted — MRED as Distributed by MLS Grid
• 2016-02-05 Pending — MRED as Distributed by MLS Grid
• 2016-01-27 Relisted — MRED as Distributed by MLS Grid
• 2016-01-13 Pending — MRED as Distributed by MLS Grid
• 2015-11-18 Listed $76,300 MRED as Distributed by MLS Grid

Property tax history

+6.2%/yr

Latest (2023): $7,232 · +25.4% YoY. Source: county tax records.