3505 Peoria St · Steger, IL 60475

$170,900

3 bd · 1.0 ba · 1,374 sqft · Other public records · 199 Days on market

Built 1909

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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 +15.4/30.0
• ARV discount +7.5/15.0
• 1% rule +5.6/10.0
• DSCR +4.7/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +0.7/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Single family in Steger! Perfect rental property or bring in all your ideas and special touches to make this your own! Convenient layout with 1st floor laundry! Fenced in backyard with 2 car garage with new roof! Located in a great area- not far from schools, parks, shops and dining!

Key facts

• Main-level bedroom
• Fenced yard
• Deck

Tags

• SUNNY LIVING AND DINING AREA
• MAIN-LEVEL BEDROOM
• FULL UNFINISHED BASEMENT
• FENCED YARD
• DECK
• 2-CAR DETACHED GARAGE

Property features AI

Finance

• Other: Property not currently leased; Living area information sourced from appraiser
• HOA & community: No master association fee required

Exterior

• Parking: Detached garage (garage owned) with garage door opener; 2 total parking spaces, 2 garage spaces
• Utilities: Water from Lake Michigan; Public sewer
• Home design: Detached single-family home; 1.5-story layout; Rehab work completed in 2025; Owned as fee simple
• Construction: Built over 100 years ago; Construction includes vinyl siding, block and concrete; Below-grade finished area present (basement finished area listed separately)
• Exterior features: Lot approximately 0.50–0.99 acre; Lot dimensions listed as 6250; Commuter-friendly location with bus, train and interstate access

Interior

• Kitchen: Kitchen on main level (14 x 10)
• Bedrooms: 3 bedrooms total; Master bedroom on main level (12 x 13) with hardwood flooring; Second-floor bedrooms: one 12 x 13 and one 12 x 14
• Flooring: Hardwood in master bedroom; Wood laminate in living room and dining area
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Natural gas and electric heating; Forced air and baseboard heating options; Central air conditioning
• Interior features: Seven total rooms; Basement is unfinished with exterior entry, concrete floor, full height and storage space; Dining area combined with living room; Bar/entertainment area on main level
• Laundry & utility: Main-level laundry (5 x 4) with gas dryer hookup

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath other listed at $171k.

Deal economics

• At list price, monthly cash flow is $67 ($806/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $171k).
• Recommended offer: $150k (12.0% below list) — sets the bar for market timing.
• Cap rate 6.8% vs local median 5.1% in Steger — 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 67/100 on livability (#498 in IL) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: employment C-, health & safety D+, 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: Steger Intermediate Center (math 2% / reading 8%, grade F, #1,741 of 2,056 statewide, top 93%, 446 students, 0% FRL); Columbia Central School (math 7% / reading 17%, grade F, #562 of 665 statewide, top 86%, 616 students, 0% FRL); Bloom Trail High School (math 12% / reading 12%, grade F, #511 of 693 statewide, top 75%, 1,227 students, 0% FRL).
• Market conditions: 43 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); 2,028 units permitted in Will County in 2024 (530 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Will County population projected to shrink 4% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• It's been on market 199 days — a 12% lower offer ($150k) is reasonable based on typical stale-listing flexibility.
• 11 sale attempts since 19y ago; this cycle's ask has dropped $19k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $102k; list at $171k implies a 68% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 2.7% of price; built in 1909 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $150,392 (12.0% below list)

Questions for the listing agent

1. It's been on market 199 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1909 — 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
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 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: 1.06% ✓
• Cap rate: 6.76%
• Cash-on-cash: 1.69%
• DSCR: 1.07
• GRM: 7.9

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: -13.5%
• Equity multiple: 0.51×
• Total profit: $-23,277
• Equity at exit: $25,482

10-year hold

• IRR: -4.5%
• Equity multiple: 0.70×
• Total profit: $-14,204
• Equity at exit: $14,776

Cash invested: $47,852 (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 60475

• Active inventory: 43
• Price-to-rent: 7.9×

Monthly cashflow live

• Estimated rent: $1,804 medium
• Mortgage (P&I): −$896
• Tax from tax record: −$391 /mo · $4,689/yr
• Insurance: −$71
• HOA: −$0
• Vacancy / Maint / Mgmt: −$379
• Net cashflow: $67

Break-even live

Break-even rent $1,719

Max offer price $170,900

Occupancy floor 91%

Sensitivity live

Price	-10% $164	-5% $116	+0% $67	+5% $19	+10% $-30
Rent	-10% $-75	-5% $-4	+0% $67	+5% $138	+10% $210
Rate	-1.0pp $153	-0.5pp $111	base $67	+0.5pp $23	+1.0pp $-22

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: $42,725
• Closing costs: $5,127
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3135 Chicago Rd Unit 2nd Steger, IL	2.0	1.0	1300	$1,650	$1.27	26d	1	0.47mi
3763 Emerald Ave Steger, IL	3.0	1.0	1125	$1,950	$1.73	26d	1	0.50mi
316 W 34th St Steger, IL	3.0	1.0–1.5	720	$1,715	$2.38	0d	5	0.52mi
236 Chestnut Ave Unit S South Chicago Heights, IL	3.0	1.0	1032	$2,000	$1.94	26d	1	0.93mi

Listing history 50 events

1. 2026-06-21
   days on market $170,900 Active 199 DOM
2. 2026-06-18
   days on market $170,900 Active 196 DOM
3. 2026-06-17
   days on market $170,900 Active 195 DOM
4. 2026-06-16
   days on market $170,900 Active 194 DOM
5. 2026-06-15
   days on market $170,900 Active 193 DOM
6. 2026-06-13
   days on market $170,900 Active 191 DOM
7. 2026-06-13
   days on market $170,900 Active 190 DOM
8. 2026-06-09
   days on market $170,900 Active 187 DOM
9. 2026-06-08
   days on market $170,900 Active 186 DOM
10. 2026-06-07
    days on market $170,900 Active 185 DOM
11. 2026-06-04
    days on market $170,900 Active 182 DOM
12. 2026-06-03
    days on market $170,900 Active 181 DOM
13. 2026-06-02
    days on market $170,900 Active 180 DOM
14. 2026-06-01
    days on market $170,900 Active 179 DOM
15. 2026-05-31
    days on market $170,900 Active 178 DOM
16. 2026-05-02
    price $170,900
17. 2026-04-13
    status Active
18. 2026-04-10
    historical Contingent - Continue to Show
19. 2026-03-24
    price $175,900
20. 2026-01-08
    price $179,900
21. 2025-12-04
    listed $189,900 Active
22. 2024-12-16
    historical
23. 2024-08-15
    price
24. 2024-06-13
    price
25. 2024-05-20
    listed Active
26. 2021-02-22
    soldstatus $102,000
27. 2021-02-19
    soldstatus $102,000 Closed Sale 284-char remark

    Show marketing remark (284 chars)

    Single family in Steger! Perfect rental property or bring in all your ideas and special touches to make this your own! Convenient layout with 1st floor laundry! Fenced in backyard with 2 car garage with new roof! Located in a great area- not far from schools, parks, shops and dining!

28. 2020-12-15
    status Contingent 284-char remark

    Show marketing remark (284 chars)

    Single family in Steger! Perfect rental property or bring in all your ideas and special touches to make this your own! Convenient layout with 1st floor laundry! Fenced in backyard with 2 car garage with new roof! Located in a great area- not far from schools, parks, shops and dining!

29. 2020-12-04
    price $104,900 284-char remark

    Show marketing remark (284 chars)

    Single family in Steger! Perfect rental property or bring in all your ideas and special touches to make this your own! Convenient layout with 1st floor laundry! Fenced in backyard with 2 car garage with new roof! Located in a great area- not far from schools, parks, shops and dining!

30. 2020-12-01
    status Reactivated 284-char remark

    Show marketing remark (284 chars)

    Single family in Steger! Perfect rental property or bring in all your ideas and special touches to make this your own! Convenient layout with 1st floor laundry! Fenced in backyard with 2 car garage with new roof! Located in a great area- not far from schools, parks, shops and dining!

31. 2020-11-04
    status Contingent 284-char remark

    Show marketing remark (284 chars)

    Single family in Steger! Perfect rental property or bring in all your ideas and special touches to make this your own! Convenient layout with 1st floor laundry! Fenced in backyard with 2 car garage with new roof! Located in a great area- not far from schools, parks, shops and dining!

32. 2020-10-29
    listed $109,900 Temporarily No Showings 284-char remark

    Show marketing remark (284 chars)

    Single family in Steger! Perfect rental property or bring in all your ideas and special touches to make this your own! Convenient layout with 1st floor laundry! Fenced in backyard with 2 car garage with new roof! Located in a great area- not far from schools, parks, shops and dining!

33. 2020-07-23
    historical
34. 2020-07-08
    listed New
35. 2018-10-12
    soldstatus $60,000 Closed Sale
36. 2018-09-27
    historical Contingent
37. 2018-05-11
    listed $74,900 New
38. 2018-03-23
    historical
39. 2018-03-17
    price
40. 2018-03-01
    price
41. 2018-02-11
    price
42. 2018-01-13
    price
43. 2017-12-28
    listed New
44. 2010-05-01
    historical
45. 2010-02-14
    price Price Change
46. 2010-01-01
    listed New
47. 2007-07-31
    historical
48. 2007-06-15
    listed
49. 2007-06-14
    historical
50. 2007-02-28
    listed

ⓘ 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: $4,689 · $391/mo
• Projected year-2 tax: $4,689 · $391/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 1/10 Low
• 🌡 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: $21,651
• − Mortgage interest: −$9,573
• − Property taxes: −$4,689
• − Insurance: −$854
• − Repairs & maintenance: −$1,732
• − Management: −$1,732
• − Depreciation: −$4,972
• Taxable loss: −$1,901
• Est. tax savings @ 24.0%: +$456
• After-tax cash flow: $1,263/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 — Steger

• Score: 67/100
• State rank: #498
• US rank: #10279

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Steger, IL
• City population: 10,103
• Population (ZIP): 10,103

Population outlook (Will County) Hauer SSP2

• Today (2025): 705,368 people
• By 2030: 708,154 · +0.4%
• By 2040: 702,692 · -0.4%
• By 2050: 680,249 · -3.6%
• By 2075: 611,990 · -13.2%
• By 2100: 516,215 · -26.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.65)
• Race & ethnicity: White 52% Hispanic / Latino 23% Black 18% Two or more races 11% Asian 1%
• Hispanic origin (detail): Mexican 21%
• Common ancestry: Romanian 5% Lithuanian 1% Italian 1%
• Foreign-born: 7% · Canada, South Korea
• Languages at home: 85% English-only · Spanish 13% Other Indo-European 1%

Political lean MEDSL · Will

• 2024 margin: Toss-up / Even · D 50.1% · R 48.5% · Other 1.4%
• 2008→2024 swing: -11.6pp toward R · 2008: 13.2pp · 2024: 1.6pp
• All cycles: 2024: D+1.6 2020: D+8.3 2016: D+5.7 2012: D+3.7 2008: D+13.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -92.95%
• Current HPI: 134.0677
• 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

+128.2% since first listed

35 events — show timeline

• 2026-05-02 Price Changed $170,900 MRED as Distributed by MLS Grid
• 2026-04-13 Relisted — MRED as Distributed by MLS Grid
• 2026-04-10 Contingent — MRED as Distributed by MLS Grid
• 2026-03-24 Price Changed $175,900 MRED as Distributed by MLS Grid
• 2026-01-08 Price Changed $179,900 MRED as Distributed by MLS Grid
• 2025-12-04 Listed $189,900 MRED as Distributed by MLS Grid
• 2024-12-16 Listing Removed — MRED as Distributed by MLS Grid
• 2024-08-15 Price Changed — MRED as Distributed by MLS Grid
• 2024-06-13 Price Changed — MRED as Distributed by MLS Grid
• 2024-05-20 Listed — MRED as Distributed by MLS Grid
• 2021-02-22 Sold (Public Records) $102,000 Public Records
• 2021-02-19 Sold (MLS) $102,000 MRED as Distributed by MLS Grid
• 2020-12-15 Pending — MRED as Distributed by MLS Grid
• 2020-12-04 Price Changed $104,900 MRED as Distributed by MLS Grid
• 2020-12-01 Relisted — MRED as Distributed by MLS Grid
• 2020-11-04 Pending — MRED as Distributed by MLS Grid
• 2020-10-29 Listed $109,900 MRED as Distributed by MLS Grid
• 2020-07-23 Listing Removed — MRED as Distributed by MLS Grid
• 2020-07-08 Listed — MRED as Distributed by MLS Grid
• 2018-10-12 Sold (MLS) $60,000 MRED as Distributed by MLS Grid
• 2018-09-27 Contingent — MRED as Distributed by MLS Grid
• 2018-05-11 Listed $74,900 MRED as Distributed by MLS Grid
• 2018-03-23 Listing Removed — MRED as Distributed by MLS Grid
• 2018-03-17 Price Changed — MRED as Distributed by MLS Grid
• 2018-03-01 Price Changed — MRED as Distributed by MLS Grid
• 2018-02-11 Price Changed — MRED as Distributed by MLS Grid
• 2018-01-13 Price Changed — MRED as Distributed by MLS Grid
• 2017-12-28 Listed — MRED as Distributed by MLS Grid
• 2010-05-01 Listing Removed — MRED as Distributed by MLS Grid
• 2010-02-14 Price Changed — MRED as Distributed by MLS Grid
• 2010-01-01 Listed — MRED as Distributed by MLS Grid
• 2007-07-31 Listing Removed — MRED as Distributed by MLS Grid
• 2007-06-15 Listed — MRED as Distributed by MLS Grid
• 2007-06-14 Listing Removed — MRED as Distributed by MLS Grid
• 2007-02-28 Listed — MRED as Distributed by MLS Grid

Property tax history

+4.8%/yr

Latest (2024): $4,689 · +7.9% YoY. Source: county tax records.