17766 Rosewood Dr · Lansing, IL 60438

$675,000

18 bd · 9.0 ba · 6,048 sqft · MultiFamily · 10 Days on market

Built 1974 Good condition 7,620 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 +30.0/30.0
• DSCR +10.0/10.0
• 1% rule +8.8/10.0
• ARV discount +7.5/15.0
• Condition / age +3.8/5.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Schools +1.0/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 6 units. confirmed

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks

ANOTHER BEAUTIFUL ALL BRICK 6 UNIT MULTIFAMILY BUILDING IN GREAT CONDITIONS. THE BUILDING IS ALL ELECTRIC. THE TENANTS PAY THEIR OWN ELECTRIC HEAT AND UTILITIES. THE OWNER PAYS FOR WATER, TRASH REMOVAL, COMMON AREA ELECTRIC, AND GOUNDS MAINTENANCE. THERE IS A 2 CAR GARAGE THAT CAN BRING EXTRA INCOME, SELLER OCCUPIES IT FOR NOW. THE ROOF AND WINDOWS ARE ABOUT 12 YEARS. UNIT NUMBER 4 HAS 3 BEDROOMS AND 1.5 BATHROOMS. THE APPLIANCES IN EACH UNIT WILL STAY. THE WASHER AND DRYER IN THE LAUNDRY ROOM WILL STAY.

Key facts

• All brick
• Roof and windows
• Electric building

Tags

• ALL BRICK
• ELECTRIC BUILDING
• TENANTS PAY UTILITIES
• 2 CAR GARAGE
• ROOF AND WINDOWS

Property features AI

Finance

• Other: Owner-projected water/sewer expense approximately $1,900 monthly; Electric expense approximately $900 monthly; Trash expense approximately $1,000 monthly; Insurance expense approximately $4,711 (period not specified)
• Financial info: Total building has 6 units; Total monthly income approximately $8,600; Gross income around $103,200 annually; Gross rent multiplier about 6.54; Typical monthly rents by unit type: ~ $1,250–$1,450 for 2-bed units, $1,300 for 1-bed unit, $1,900 for 3-bed unit

Exterior

• Utilities: Electric service with circuit breakers
• Home design: Multi-family property (5+ units); Not a conversion; Tenancy: Leases and month-to-month
• Construction: Brick construction; Composition roof with hip roof structure; Concrete perimeter foundation; Built before 1978
• Exterior features: Lot dimensions approximately 54 x 147; Zoning: Multi

Interior

• Kitchen: Ranges provided in building equipment
• Bedrooms: Four 2-bedroom units (2 bedrooms); One 1-bedroom unit (1 bedroom); One 3-bedroom unit (3 bedrooms)
• Bathrooms: Units include full bathrooms (varies by unit type)
• Heating & cooling: Electric heating with separate systems per unit; Wall sleeve cooling
• Interior features: Six ranges available (building equipment)
• Laundry & utility: One shared washer; One shared dryer; Washer/dryer not leased

What this means for you Summary

Snapshot

• This is a 6 × 3.0-bed/1.5-bath units multifamily listed at $675k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $3k ($33k/yr) — positive. Per door: $452/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($9k rent vs $675k).
• Cap rate 11.1% 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: schools D+, crime D+, health & safety D+.
• 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.
• Market conditions: 135 active listings in the ZIP; solid renter incomes; 6,272 units permitted in Cook County in 2024 (4,658 in 5+ unit buildings).
• At $9,334/mo this rent would consume 148% 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 $5k of loan paydown is wiped out by about $20k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $189k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.

Recommended offer $675,000

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 1974 — 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 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?
6. 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?
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 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: 1.38% ✓
• Cap rate: 11.11%
• Cash-on-cash: 17.20%
• DSCR: 1.77
• GRM: 6.0

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: 8.5%
• Equity multiple: 1.33×
• Total profit: $63,305
• Equity at exit: $100,645

10-year hold

• IRR: 17.8%
• Equity multiple: 2.47×
• Total profit: $277,874
• Equity at exit: $58,362

Cash invested: $189,000 (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: 135
• Price-to-rent: 36.2×

Monthly cashflow live

• Estimated rent: $9,334 high
• Mortgage (P&I): −$3,540
• Tax est. 1.5%: −$844 /mo · $10,125/yr
• Insurance: −$281
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,960
• Net cashflow: $2,709

Break-even live

Break-even rent $5,905

Max offer price $675,000

Occupancy floor 66%

Sensitivity live

Price	-10% $3,176	-5% $2,942	+0% $2,709	+5% $2,476	+10% $2,243
Rent	-10% $1,972	-5% $2,340	+0% $2,709	+5% $3,078	+10% $3,446
Rate	-1.0pp $3,049	-0.5pp $2,881	base $2,709	+0.5pp $2,534	+1.0pp $2,356

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

Units	Beds	Baths	Est. rent
▸ 6× units	3.0	1.5	$9,336
Total (6 units)			$9,334

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: $168,750
• Closing costs: $20,250
• Reserves months: —
• Total cash needed: —

Listing history 7 events

1. 2026-06-21
   days on market $675,000 Active 10 DOM
2. 2026-06-18
   days on market $675,000 Active 7 DOM
3. 2026-06-17
   days on market $675,000 Active 6 DOM
4. 2026-06-16
   days on market $675,000 Active 5 DOM
5. 2026-06-15
   statusdays on market $675,000 Active 4 DOM
6. 2026-06-13
   remarks 509-char remark
7. 2026-06-13
   listed $675,000 Temporarily No Showings 2 DOM

ⓘ 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 1/10 Low FEMA zone X (unshaded) · 0% 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 0% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $112,008
• − Mortgage interest: −$37,810
• − Property taxes: −$10,125
• − Insurance: −$3,375
• − Repairs & maintenance: −$8,961
• − Management: −$8,961
• − Depreciation: −$19,636
• Taxable income: $23,140
• Est. tax owed @ 24.0%: −$5,554
• After-tax cash flow: $26,955/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.

Condition & rehab AI · 1 photo

Good 75/100 Cosmetic rehab

This 6-unit multifamily building is in good condition with no major repairs needed. It offers a good investment opportunity with potential for value increase through cosmetic updates and landscaping improvements.

Value-add opportunities

• Both Painting the exterior and interior walls — Fresh paint can enhance the curb appeal and interior aesthetics, making the property more attractive to potential buyers and renters.
• Both Landscaping improvements — A well-maintained landscape can improve the property's curb appeal and attract more tenants.
• Rental HVAC system inspection and maintenance — A functioning HVAC system is crucial for tenant satisfaction and can prevent costly repairs in the future.

Renovation cost estimate screening

Value-add ROI direction

• Both Painting the exterior and interior walls — Fresh paint can enhance the curb appeal and interior aesthetics, making the property more attractive to potential buyers and renters. ↑
• Both Landscaping improvements — A well-maintained landscape can improve the property's curb appeal and attract more tenants. ↑
• Rental HVAC system inspection and maintenance — A functioning HVAC system is crucial for tenant satisfaction and can prevent costly repairs in the future. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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

1 event — show timeline

• 2026-06-11 Listed $675,000 MRED as Distributed by MLS Grid