1317 Washington St · Chicago Heights, IL 60411

$135,000

3 bd · 1.0 ba · 1,013 sqft · SingleFamily public records · 42 Days on market

Built 1926 3,125 sqft lot Est $129k · at est. ↓ 4% since listing

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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 +25.5/30.0
• DSCR +8.4/10.0
• 1% rule +8.0/10.0
• ARV discount +5.3/15.0
• 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

Listing remarks

Investors, flippers, rehabbers, and renovation-minded buyers, this Chicago Heights home offers strong value-add potential and room to bring your vision to life. This 3 bedroom, 2 bath home features original hardwood floors, an enclosed front porch, formal dining room, large eat-in kitchen, and full basement. The basement includes a finished family room, second kitchen, full bathroom, bonus room, laundry area, and ample storage. Notable updates include a 2016 roof, newer furnace, and newer water heater. No garage, but parking is available for multiple vehicles. Sold as-is. A great opportunity for those looking to update, renovate, or add to their portfolio. Square footage does not include ba

Key facts

• Large eat-in kitchen
• Formal dining room
• Full basement

Tags

• ORIGINAL HARDWOOD FLOORS
• ENCLOSED FRONT PORCH
• FORMAL DINING ROOM
• LARGE EAT-IN KITCHEN
• FULL BASEMENT
• FINISHED FAMILY ROOM

Property features AI

Finance

• Other: Property not currently leased; Below-grade finished area and finished basement space; Total finished/unfinshed living area approximately 2,026 total (per assessor)
• HOA & community: No master association fees required

Exterior

• Parking: Off-alley parking; Owned parking with space for 3 vehicles
• Utilities: Public water; Public sewer; Electric with circuit breakers
• Home design: Detached single-family home; One-story layout; Fee simple ownership
• Construction: Approximately 91–100 years old; Vinyl siding; Asphalt roof; Concrete perimeter foundation; Built before 1978
• Exterior features: Lot dimensions approximately 25 x 125; Less than 0.25 acre lot; School bus and commuter bus service nearby

Interior

• Kitchen: Main-level kitchen with eating area/table space; Second (basement) kitchen
• Bedrooms: 3 bedrooms (including main-level master bedroom)
• Flooring: Hardwood flooring on main living areas; Vinyl in the main kitchen; Tile flooring in basement rooms
• Bathrooms: 2 full bathrooms; Bathroom located in the basement
• Heating & cooling: Forced air heating
• Interior features: First-floor bedroom and first-floor full bath; Separate dining room; Finished full basement; 9 total rooms
• Laundry & utility: Basement laundry room

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $135k.

Deal economics

• At list price, monthly cash flow is $314 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $135k).
• Recommended offer: $131k (3.0% below list) — sets the bar for market timing.
• Cap rate 9.1% 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-, schools F, crime 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.
• Market conditions: Rents rising fast (+6.5%/yr); 222 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals leasing fast (median 12d on market — plan ~1-2 weeks tenant-placement turnaround); 6,272 units permitted in Cook County in 2024 (4,658 in 5+ unit buildings).
• This rent runs 34% of the median local income ($62k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $933 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 6.5% rent growth), your $38k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 42 days — a 3% lower offer ($131k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: property tax is 2.8% of price; built in 1926 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $130,950 (3.0% below list)

Questions for the listing agent

1. It's been on market 42 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 1926 — 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. 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. 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.
8. 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.
9. 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: 1.30% ✓
• Cap rate: 9.08%
• Cash-on-cash: 9.97%
• DSCR: 1.44
• GRM: 6.4

CMA / ARV

• ARV (on-the-fly): $128,651
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1227 Emerald Ave	0.28mi	3/1.0	978 (-4%)	10mo	$115,000	$118	73
1309 Washington St	0.03mi	3/2.0	960 (-5%)	19mo	$155,000	$161	70
1015 Emerald Ave	0.46mi	3/1.0	1,144 (+13%)	12mo	$144,900	$127	47
43 E 13th St	0.54mi	2/1.0 (-1)	866 (-14%)	15mo	$63,000	$73	33

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 · 6.48% rent growth · sell at horizon

5-year hold

• IRR: 3.0%
• Equity multiple: 1.12×
• Total profit: $4,603
• Equity at exit: $20,129

10-year hold

• IRR: 16.0%
• Equity multiple: 2.54×
• Total profit: $58,281
• Equity at exit: $11,672

Cash invested: $37,800 (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: 222
• Price-to-rent: 6.4×

Monthly cashflow live

• Estimated rent: $1,757 high
• Mortgage (P&I): −$708
• Tax from tax record: −$310 /mo · $3,714/yr
• Insurance: −$56
• HOA: −$0
• Vacancy / Maint / Mgmt: −$369
• Net cashflow: $314

Break-even live

Break-even rent $1,359

Max offer price $135,000

Occupancy floor 77%

Sensitivity live

Price	-10% $390	-5% $352	+0% $314	+5% $276	+10% $238
Rent	-10% $175	-5% $245	+0% $314	+5% $383	+10% $453
Rate	-1.0pp $382	-0.5pp $348	base $314	+0.5pp $279	+1.0pp $243

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: $33,750
• Closing costs: $4,050
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1203 Emerald Ave Unit 1 Chicago Heights, IL	3.0	1.0	1200	$1,550	$1.29	2d	1	0.32mi
41 W 14th Pl Unit 1 Chicago Heights, IL	3.0	1.0	1250	$1,750	$1.40	11d	1	0.72mi
83 W 15th St #1 Chicago Heights, IL	3.0	1.0	1050	$1,500	$1.43	4d	1	0.83mi
41 E Main St Unit 2 Chicago Heights, IL	2.0	1.0	1000	$1,550	$1.55	8d	1	0.83mi
169 E 23rd St Unit 1F Chicago Heights, IL	3.0	1.0	1200	$1,550	$1.29	13d	1	0.86mi
63 Hickory St Unit 2 Chicago Heights, IL	3.0	1.0	900	$1,700	$1.89	25d	1	0.88mi
1631 Buena Vista Ave Unit 2 Chicago Heights, IL	4.0	1.0	1200	$1,900	$1.58	25d	1	0.97mi
531 Wallace St Chicago Heights, IL	3.0	1.0	1100	$2,000	$1.82	6d	1	0.99mi
1667 Buena Vista Ave Unit 1st floor Chicago Heights, IL	2.0	1.0	1300	$1,525	$1.17	25d	1	1.00mi

Listing history 17 events

1. 2026-06-18
   days on market $135,000 Active 42 DOM
2. 2026-06-17
   days on market $135,000 Active 41 DOM
3. 2026-06-16
   days on market $135,000 Active 40 DOM
4. 2026-06-15
   days on market $135,000 Active 39 DOM
5. 2026-06-13
   remarks 699-char remark
6. 2026-06-13
   days on market $135,000 Active 37 DOM
7. 2026-06-13
   days on market $135,000 Active 36 DOM
8. 2026-06-09
   days on market $135,000 Active 33 DOM
9. 2026-06-08
   days on market $135,000 Active 32 DOM
10. 2026-06-07
    days on market $135,000 Active 31 DOM
11. 2026-06-04
    days on market $135,000 Active 28 DOM
12. 2026-06-03
    days on market $135,000 Active 27 DOM
13. 2026-06-02
    days on market $135,000 Active 26 DOM
14. 2026-06-01
    days on market $135,000 Active 25 DOM
15. 2026-05-31
    days on market $135,000 Active 24 DOM
16. 2026-05-21
    price $135,000
17. 2026-05-07
    listed $140,000 Active

ⓘ 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: $3,714 · $310/mo
• Projected year-2 tax: $3,714 · $310/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 ≥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: $21,080
• − Mortgage interest: −$7,562
• − Property taxes: −$3,714
• − Insurance: −$675
• − Repairs & maintenance: −$1,686
• − Management: −$1,686
• − Depreciation: −$3,927
• Taxable income: $1,828
• Est. tax owed @ 24.0%: −$439
• After-tax cash flow: $3,329/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

-3.6% since first listed

2 events — show timeline

• 2026-05-21 Price Changed $135,000 MRED as Distributed by MLS Grid
• 2026-05-07 Listed $140,000 MRED as Distributed by MLS Grid

Property tax history

+19.1%/yr

Latest (2023): $3,714 · +36.3% YoY. Source: county tax records.