5511 W 31st St · Cicero, IL 60804

$339,999

3 bd · 2.0 ba · 2,071 sqft · MultiFamily public records · 14 Days on market

Built 1928 3,750 sqft lot

---

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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +4.1/5.0
• Rent growth +3.1/5.0
• Condition / age +2.5/5.0
• Schools +1.1/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 1 unit. estimate disagrees with records

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 MLS

There are no remarks available.

Key facts

• Access to parks
• Access to shopping
• Functional layout

Tags

• ACCESS TO PARKS
• ACCESS TO SHOPPING
• ACCESS TO DINING
• ACCESS TO MAJOR ROADWAYS
• FUNCTIONAL LAYOUT
• SPACIOUS LIVING AREAS

Property features AI

Exterior

• Utilities: Electric: Separate meters
• Home design: Multi-family property (5+ classification); Brick construction; Composition roof
• Construction: Brick exterior; Composition roof
• Exterior features: Lot dimensions approximately 25 x 150

Interior

• Bedrooms: Unit 1: 2 bedrooms; Unit 2 (each): 1 bedroom (2 units)
• Bathrooms: Unit 1: 1 full bathroom; Unit 2 (each): 1 full bathroom
• Heating & cooling: Gas heating; Window air conditioning units
• Interior features: Unfinished basement

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath multifamily listed at $340k.

Deal economics

• At list price, monthly cash flow is $3k ($40k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($7k rent vs $340k).
• Cap rate 18.2% vs local median 4.6% in Cicero — 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 82/100 on livability (#77 in IL, #1,276 nationally) — a professional / high-income tenant draw. Strengths: commute A+, cost of living A+, housing A+; Watch: schools F.
• J S Morton Hsd 201 (suburban): math 9% / reading 14% proficiency, ranked #557 of 620 in IL (top 90%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: Rents rising (+2.4%/yr); 103 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 6,272 units permitted in Cook County in 2024 (4,658 in 5+ unit buildings).
• At $6,976/mo this rent would consume 118% of the median local household income ($71k/yr) (locally 2178% 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 $10k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 2.4% rent growth), your $95k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts 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 $55k; list at $340k implies a 518% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1928 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $339,999

Questions for the listing agent

1. Built in 1928 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 2.05% ✓
• Cap rate: 18.17%
• Cash-on-cash: 42.41%
• DSCR: 2.89
• GRM: 4.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 2.43% rent growth · sell at horizon

5-year hold

• IRR: 38.5%
• Equity multiple: 2.63×
• Total profit: $155,177
• Equity at exit: $50,695

10-year hold

• IRR: 44.7%
• Equity multiple: 5.15×
• Total profit: $394,815
• Equity at exit: $29,397

Cash invested: $95,200 (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 60804

• Rents YoY: 2.4%
• Active inventory: 103
• Price-to-rent: 24.4×

Monthly cashflow live

• Estimated rent: $6,976 medium
• Mortgage (P&I): −$1,783
• Tax from tax record: −$222 /mo · $2,666/yr
• Insurance: −$142
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,465
• Net cashflow: $3,364

Break-even live

Break-even rent $2,717

Max offer price $339,999

Occupancy floor 47%

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

Units	Beds	Baths	Est. rent
▸ 6× units	2	1	$6,978
Total (6 units)			$6,976

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: $85,000
• Closing costs: $10,200
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3222 S 52nd Ct Cicero, IL	3.0	2.0	1627	$5,850	$3.60	1d	1	0.39mi
3633 S 57th Ct Cicero, IL	3.0	2.5	1708	$2,500	$1.46	20d	1	0.73mi
5529 W 22nd Pl #2 Cicero, IL	3.0	1.0	1400	$1,900	$1.36	24d	1	0.96mi
2432 Elmwood Ave Berwyn, IL	3.0	2.0	1657	$2,000	$1.21	17d	1	1.36mi
2103 Highland Ave #2 Berwyn, IL	3.0	1.0	2264	$1,995	$0.88	24d	1	1.49mi

Listing history 9 events

1. 2026-06-18
   days on market $339,999 Active 14 DOM
2. 2026-06-17
   days on market $339,999 Active 13 DOM
3. 2026-06-16
   days on market $339,999 Active 12 DOM
4. 2026-06-15
   days on market $339,999 Active 11 DOM
5. 2026-06-13
   days on market $339,999 Active 9 DOM
6. 2026-06-09
   days on market $339,999 Active 5 DOM
7. 2026-06-08
   days on market $339,999 Active 4 DOM
8. 2026-06-07
   days on marketlisting id $339,999 Active 3 DOM
9. 2026-06-04
   listed $339,999 Active 1 DOM

   Show marketing remark (31 chars)

   There are no remarks available.

ⓘ 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: $2,666 · $222/mo
• Projected year-2 tax: $5,192 · $433/mo
• Expected delta: +$2,526/yr (+$211/mo · 94.8%)

ⓘ 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 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥99°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 3 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $83,712
• − Mortgage interest: −$19,045
• − Property taxes: −$2,666
• − Insurance: −$1,700
• − Repairs & maintenance: −$6,697
• − Management: −$6,697
• − Depreciation: −$9,891
• Taxable income: $37,016
• Est. tax owed @ 24.0%: −$8,884
• After-tax cash flow: $31,487/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: J S Morton Hsd 201
• NCES district ID: 1726880
• Math proficiency: 9% ▲ 1.00%
• Reading proficiency: 14% ▼ -1.00%
• Median HH income: $48,698
• Composite: 10.73/100
• National rank: #9768
• State rank: #557 of 620 in IL

Livability — Cicero

• Score: 82/100
• State rank: #77
• US rank: #1276

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Cicero, IL
• County: Cook County · 4,486,803 people
• City population: 82,797
• Metro: Chicago-Naperville-Elgin, IL-IN-WI
• Population (ZIP): 82,797
• Household income: $70,842
• Rent vs Own: 45.4% rent · 54.6% own
• Severe rent burden: 2178.0

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: Predominantly Hispanic (89%)
• Race & ethnicity: Hispanic / Latino 89% Two or more races 17% White 7% Black 3% Native American 2%
• Hispanic origin (detail): Mexican 80% Puerto Rican 3%
• Common ancestry: Romanian 2%
• Foreign-born: 40% · Canada, Jamaica
• Languages at home: 18% English-only · Spanish 80%

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: ▼ -165.38%
• Current HPI: 262.83
• Rent YoY: ▲ 2.43%
• 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

+518.2% since first listed

4 events — show timeline

• 2026-06-04 Listed $339,999 MRED as Distributed by MLS Grid
• 2026-06-04 Listing Removed — MRED as Distributed by MLS Grid
• 2026-06-03 Listed — MRED as Distributed by MLS Grid
• 1986-08-01 Sold (Public Records) $55,000 Public Records

Property tax history

-1.3%/yr

Latest (2023): $2,666 · -24.9% YoY. Source: county tax records.