1412 Broadway St #1412 · Blue Island, IL 60406

$235,000

2 bd · 2.5 ba · 2,127 sqft · Condo · 188 Days on market

Built 2008 $110/sqft · 19% below area Est $289k · 19% under $230/mo HOA · 9% of rent

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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).

• ARV discount +15.0/15.0
• Cash flow +7.8/30.0
• 1% rule +5.8/10.0
• Livability +3.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +1.8/10.0
• Schools +1.6/10.0
• Appreciation +0.0/10.0

Listing remarks

Discover a beautiful hidden treasure in Blue Island! This bright and welcoming 2-bedroom, 2.5-bath condo is filled with natural light, high ceilings, and a wonderfully open layout. Step inside to an inviting open-concept living and dining area accented by gleaming hardwood floors and a convenient main-level powder room. The kitchen opens to a spacious private balcony, perfect for morning coffee, entertaining, or simply enjoying the fresh air. A full-size storage closet on the balcony provides ideal space for seasonal items and decor. Upstairs, you'll find two generously sized bedrooms and a full bath. The primary suite features a walk-in closet and a luxurious ensuite with a double vanity,

Key facts

• Private balcony
• Finished basement
• Access to gazebo

Tags

• PRIVATE BALCONY
• FULL-SIZE STORAGE CLOSET
• FINISHED BASEMENT
• DEDICATED LAUNDRY UTILITY ROOM
• ATTACHED 2-CAR GARAGE
• ACCESS TO GAZEBO

What this means for you Summary

Snapshot

• This is a 2-bed/2.5-bath condo listed at $235k.

Deal economics

• At list price, monthly cash flow is $-266 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $188k (20.0% below list).
• Meets the 1% rule at list price ($3k rent vs $235k).
• Recommended offer: $188k (20.0% below list) — sets the bar for cash-flow.
• Cap rate 4.9% vs local median 6.6% in Blue Island — 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 (#159 in IL, #2,964 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: employment C-, crime F, amenities D-.
• Chsd 218 (suburban): math 14% / reading 20% proficiency, ranked #454 of 620 in IL (top 73%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Burr Oak Academy (318 students, 0% FRL); Calumet Elem School (math 24% / reading 24%, grade F, #332 of 665 statewide, top 55%, 310 students, 0% FRL); A B Shepard High Sch (Campus) (math 16% / reading 25%, grade F, #350 of 693 statewide, top 51%, 1,973 students, 0% FRL).
• Market conditions: 44 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 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 188 days — a 12% lower offer ($207k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: property tax is 3.7% of price.

Recommended offer $188,010 (20.0% 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 188 days. Have you received any prior offers? Is the seller open to a 20% concession, seller financing, or rate buy-down credit?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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?
10. 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?
11. 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.
12. 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.
13. 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: 1.08% ✓
• Cap rate: 4.93%
• Cash-on-cash: -4.85%
• DSCR: 0.78
• GRM: 7.7

CMA / ARV

• ARV (median comp): $288,582
• List price: $235,000
• Delta: -18.57%
• Verdict: UNDERPRICED
• Comps: 9 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -24.3%
• Equity multiple: 0.17×
• Total profit: $-54,580
• Equity at exit: $35,039

10-year hold

• IRR: -18.9%
• Equity multiple: -0.03×
• Total profit: $-67,548
• Equity at exit: $20,319

Cash invested: $65,800 (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 60406

• Home prices YoY: -26.8%
• Active inventory: 44
• Price-to-rent: 7.7×

Monthly cashflow live

• Estimated rent: $2,550 medium
• Mortgage (P&I): −$1,232
• Tax from tax record: −$720 /mo · $8,638/yr
• Insurance: −$98
• HOA: −$230
• Vacancy / Maint / Mgmt: −$535
• Net cashflow: $-266

Break-even live

Break-even rent $2,886

Max offer price $188,010

Occupancy floor —

Sensitivity live

Price	-10% $-133	-5% $-199	+0% $-266	+5% $-333	+10% $-399
Rent	-10% $-467	-5% $-367	+0% $-266	+5% $-165	+10% $-65
Rate	-1.0pp $-148	-0.5pp $-206	base $-266	+0.5pp $-327	+1.0pp $-389

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: $58,750
• Closing costs: $7,050
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
12111 S Justine St Chicago, IL	3.0	1.5	1800	$2,400	$1.33	17d	1	1.36mi
12105 S Justine St Chicago, IL	2.0	2.0	1800	$2,700	$1.50	3d	1	1.37mi

HOA detail condo

• Monthly dues: $230 · $2,760/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 18 events

1. 2026-06-21
   days on market $235,000 Active 188 DOM
2. 2026-06-18
   days on market $235,000 Active 185 DOM
3. 2026-06-17
   days on market $235,000 Active 184 DOM
4. 2026-06-16
   days on market $235,000 Active 183 DOM
5. 2026-06-15
   days on market $235,000 Active 182 DOM
6. 2026-06-13
   days on market $235,000 Active 180 DOM
7. 2026-06-09
   days on market $235,000 Active 176 DOM
8. 2026-06-08
   days on market $235,000 Active 175 DOM
9. 2026-06-07
   days on market $235,000 Active 174 DOM
10. 2026-06-04
    days on market $235,000 Active 171 DOM
11. 2026-06-03
    days on market $235,000 Active 170 DOM
12. 2026-06-02
    days on market $235,000 Active 169 DOM
13. 2026-06-01
    days on market $235,000 Active 168 DOM
14. 2026-05-31
    days on market $235,000 Active 167 DOM
15. 2022-02-26
    historical Contingent - Continue to Show
16. 2022-02-25
    historical
17. 2022-02-10
    listed Active
18. 2013-05-15
    soldstatus $1,510,000

ⓘ 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: $8,638 · $720/mo
• Projected year-2 tax: $8,638 · $720/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 4/10 Moderate FEMA zone X (unshaded) · 24% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥101°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $30,595
• − Mortgage interest: −$13,164
• − Property taxes: −$8,638
• − Insurance: −$1,175
• − Repairs & maintenance: −$2,448
• − Management: −$2,448
• − HOA: −$2,760
• − Depreciation: −$6,836
• Taxable loss: −$6,874
• Est. tax savings @ 24.0%: +$1,650
• After-tax cash flow: $-1,542/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: Chsd 218
• NCES district ID: 1706540
• Math proficiency: 14% ▼ -4.00%
• Reading proficiency: 20% ▼ -1.00%
• Median HH income: $57,166
• Composite: 16.09/100
• National rank: #9235
• State rank: #454 of 620 in IL

Livability — Blue Island

• Score: 77/100
• State rank: #159
• US rank: #2964

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Blue Island, IL
• City population: 24,887
• Population (ZIP): 24,887

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: Hispanic / Latino 44% Black 34% White 19% Two or more races 8%
• Hispanic origin (detail): Mexican 39%
• Common ancestry: Romanian 2% English 1% Iranian 1%
• Foreign-born: 19% · Canada
• Languages at home: 65% English-only · Spanish 33% 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: ▼ -94.77%
• Current HPI: 259.492
• 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

4 events — show timeline

• 2022-02-26 Contingent — MRED as Distributed by MLS Grid
• 2022-02-25 Listing Removed — MRED as Distributed by MLS Grid
• 2022-02-10 Listed — MRED as Distributed by MLS Grid
• 2013-05-15 Sold (Public Records) $1,510,000 Public Records

Property tax history

+13.1%/yr

Latest (2023): $8,638 · +27.6% YoY. Source: county tax records.