3225 Otto St · Lansing, IL 60438

$171,000

3 bd · 1.0 ba · 1,281 sqft · SingleFamily public records · 395 Days on market

Built 1956 0.47 ac lot Est $242k · 29% under ↓ 14% 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 +22.6/30.0
• ARV discount +15.0/15.0
• DSCR +7.2/10.0
• 1% rule +7.0/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.0/10.0
• Appreciation +0.0/10.0

Listing remarks

Highest and best by 5/15 at 5 pm * * * REACTIVATED WITH NEW REPAIRS TO THE BASEMENT FOUNDATION! * * * YOU'LL LOVE THIS WELL-MAINTAINED, MOVE-IN READY LANSING BRICK RANCH HOME! THIS GREAT HOME SITS ON A HALF ACRE LOT WITH A HUGE BACKYARD! THE NEIGHBORHOOD IS EXCEPTIONAL, AND IT'S A 3 MINUTE DRIVE FROM INDIANA. IT ALSO FEATURES 3 SPACIOUS BEDROOMS, WELL MAINTAINED HARDWOOD FLOORS, FRESHLY PAINTED WALLS, NEW CEILING FAN, A BRAND-NEW BOILER HEATING SYSTEM, NEWLY SERVICED A/C CONDENSER, AN ATTACHED 2.5 CAR GARAGE, AND 2 FIREPLACES. SELLING AS-IS; CASH CONVENTIONAL OR RENOVATION FINANCING ONLY. SCHEDULE AN APPOINTMENT TODAY!

Key facts

• Attached garage
• Huge backyard
• Half acre lot

Tags

• HALF ACRE LOT
• HUGE BACKYARD
• ATTACHED GARAGE
• TWO FIREPLACES

Property features AI

Finance

• Other: Parcel number 33051000460000; Directions: Burnham Avenue to Otto Street
• HOA & community: No master association fee required

Exterior

• Parking: Attached garage (owned) on asphalt driveway; Total parking for 2 vehicles (2 garage spaces)
• Utilities: Public water; Public sewer
• Home design: Detached single-family home; Single-story layout; Fee simple ownership; Vinyl siding and frame construction; Built before 1978 (61–70 years old)
• Construction: Vinyl siding over frame construction
• Exterior features: Approximately 0.25–0.49 acre lot; School bus service

Interior

• Kitchen: Range; Refrigerator; Ceramic tile flooring in kitchen (13 x 9)
• Bedrooms: Master bedroom on main level (14 x 14) with hardwood flooring; Second bedroom on main level (10 x 10) with hardwood flooring; Third bedroom on main level (11 x 10) with hardwood flooring
• Flooring: Hardwood in bedrooms and master; Carpet in living room; Ceramic tile in kitchen and dining area; Other flooring in several rooms and basement areas
• Bathrooms: One full bathroom
• Heating & cooling: Natural gas forced air heating
• Interior features: Partially finished full basement; CO detectors; Ceiling fan(s); One fireplace in the living room; Total of 8 rooms
• Laundry & utility: Washer and dryer; Utility room in basement (17 x 18)

What this means for you Summary

Snapshot

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

Deal economics

• At list price, monthly cash flow is $290 ($3k/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 8.3% vs local median 5.8% 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: 132 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals leasing fast (median 11d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 6,272 units permitted in Cook County in 2024 (4,658 in 5+ unit buildings).
• This rent runs 33% of the median local income ($76k/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 $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 395 days — a 12% lower offer ($150k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 3y ago; this cycle's ask has dropped $29k (14%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: property tax is 2.6% of price; built in 1956 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $150,480 (12.0% below list)

Questions for the listing agent

1. It's been on market 395 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 1956 — 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 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?
7. 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?
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: 1.20% ✓
• Cap rate: 8.33%
• Cash-on-cash: 7.27%
• DSCR: 1.32
• GRM: 6.9

CMA / ARV

• ARV (on-the-fly): $242,109
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
18551 Walter St	0.14mi	3/1.5	1,250 (-2%)	9mo	$210,500	$168	80
3316 Ann St	0.36mi	3/2.5	1,264 (-1%)	3mo	$260,000	$206	73
18727 Sherman St	0.27mi	4/1.5 (+1)	1,264 (-1%)	9mo	$239,000	$189	71
3007 190th St	0.48mi	3/1.0	1,232 (-4%)	2mo	$199,900	$162	70
3152 189th St	0.28mi	3/2.0	1,196 (-7%)	8mo	$270,000	$226	65
18302 Roy St	0.43mi	4/1.5 (+1)	1,254 (-2%)	6mo	$200,000	$159	64
18747 Sherman St	0.28mi	3/1.0	1,102 (-14%)	2mo	$149,000	$135	62
3320 191st St	0.50mi	3/2.0	1,150 (-10%)	2mo	$207,000	$180	54
2916 189th St	0.48mi	3/2.0	1,092 (-15%)	7mo	$220,000	$201	43
18240 Wildwood Ave	0.74mi	3/2.0	1,400 (+9%)	6mo	$264,000	$189	41
3328 193rd St	0.73mi	4/3.0 (+1)	1,373 (+7%)	2mo	$310,000	$226	40
8560 Forest Ave	0.68mi	2/1.0 (-1)	1,139 (-11%)	8mo	$220,000	$193	38

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -5.1%
• Equity multiple: 0.81×
• Total profit: $-9,105
• Equity at exit: $25,497

10-year hold

• IRR: 4.6%
• Equity multiple: 1.34×
• Total profit: $16,380
• Equity at exit: $14,785

Cash invested: $47,880 (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: 132
• Price-to-rent: 6.9×

Monthly cashflow live

• Estimated rent: $2,060 high
• Mortgage (P&I): −$897
• Tax from tax record: −$369 /mo · $4,430/yr
• Insurance: −$71
• HOA: −$0
• Vacancy / Maint / Mgmt: −$433
• Net cashflow: $290

Break-even live

Break-even rent $1,693

Max offer price $171,000

Occupancy floor 81%

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: $42,750
• Closing costs: $5,130
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3341 S Schultz Dr Lansing, IL	4.0	2.0	1452	$2,250	$1.55	10d	1	0.23mi
18335 Sherman St Unit 3 Lansing, IL	3.0	1.0	1000	$1,700	$1.70	1d	1	0.45mi
2824 186th St Lansing, IL	3.0	2.0	1400	$2,900	$2.07	10d	1	0.50mi
18343 Oakwood Ave Lansing, IL	4.0	2.0	1700	$2,700	$1.59	1d	1	0.58mi
18361 Glen Oak Ave Unit 1E Lansing, IL	2.0	1.0	900	$1,400	$1.56	25d	1	1.06mi
18550 Torrence Ave #25 Lansing, IL	2.0	1.0	1000	$1,300	$1.30	12d	1	1.10mi
18381 Torrence Ave Lansing, IL	2.0	1.0	900	$1,300	$1.44	25d	1	1.12mi
3020 178th St Unit C1 Lansing, IL	2.0	1.0	900	$1,550	$1.72	1d	1	1.17mi
3020 178th St Apt C7 Lansing, IL	2.0	1.0	900	$1,550	$1.72	25d	1	1.17mi
17723 Exchange Ave Unit 17723-1N Lansing, IL	3.0	2.0	1100	$1,800	$1.64	1d	1	1.37mi
232 Gregory Ave Munster, IN	3.0	1.5	1600	$2,450	$1.53	1d	1	1.46mi

Listing history 40 events

1. 2026-06-18
   days on market $171,000 Active 395 DOM
2. 2026-06-17
   days on market $171,000 Active 394 DOM
3. 2026-06-16
   days on market $171,000 Active 393 DOM
4. 2026-06-15
   days on market $171,000 Active 392 DOM
5. 2026-06-13
   days on market $171,000 Active 390 DOM
6. 2026-06-09
   days on market $171,000 Active 386 DOM
7. 2026-06-08
   days on market $171,000 Active 385 DOM
8. 2026-06-07
   days on market $171,000 Active 384 DOM
9. 2026-06-04
   days on market $171,000 Active 381 DOM
10. 2026-06-03
    days on market $171,000 Active 380 DOM
11. 2026-06-02
    days on market $171,000 Active 379 DOM
12. 2026-06-01
    days on market $171,000 Active 378 DOM
13. 2026-05-31
    statusdays on market $171,000 Active 377 DOM
14. 2026-05-18
    historical Contingent - Continue to Show
15. 2026-05-08
    status Active
16. 2026-04-27
    historical Contingent - Continue to Show
17. 2026-03-03
    price $171,000
18. 2025-10-14
    price $178,900
19. 2025-09-09
    price $179,900
20. 2025-08-27
    price $184,900
21. 2025-08-15
    status Active
22. 2025-08-13
    historical Contingent - Continue to Show
23. 2025-07-01
    price $189,900
24. 2025-06-16
    price $194,900
25. 2025-05-19
    listed $199,900 Active
26. 2025-02-24
    historical Contingent - Continue to Show
27. 2025-02-22
    historical
28. 2025-01-10
    price
29. 2024-11-02
    price
30. 2024-09-16
    status Active
31. 2024-05-01
    historical Contingent - Continue to Show
32. 2024-04-18
    listed Active
33. 2023-12-28
    historical Contingent - Continue to Show
34. 2023-12-27
    status Active
35. 2023-11-10
    historical Contingent - Continue to Show
36. 2023-11-09
    historical
37. 2023-10-14
    price
38. 2023-09-18
    price
39. 2023-09-01
    price
40. 2023-08-25
    listed 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: $4,430 · $369/mo
• Projected year-2 tax: $4,430 · $369/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 3/10 Moderate FEMA zone X (unshaded) · 20% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥102°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 5 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $24,719
• − Mortgage interest: −$9,579
• − Property taxes: −$4,430
• − Insurance: −$855
• − Repairs & maintenance: −$1,978
• − Management: −$1,978
• − Depreciation: −$4,975
• Taxable income: $925
• Est. tax owed @ 24.0%: −$222
• After-tax cash flow: $3,259/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: 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

-14.5% since first listed

27 events — show timeline

• 2026-05-18 Contingent — MRED as Distributed by MLS Grid
• 2026-05-08 Relisted — MRED as Distributed by MLS Grid
• 2026-04-27 Contingent — MRED as Distributed by MLS Grid
• 2026-03-03 Price Changed $171,000 MRED as Distributed by MLS Grid
• 2025-10-14 Price Changed $178,900 MRED as Distributed by MLS Grid
• 2025-09-09 Price Changed $179,900 MRED as Distributed by MLS Grid
• 2025-08-27 Price Changed $184,900 MRED as Distributed by MLS Grid
• 2025-08-15 Relisted — MRED as Distributed by MLS Grid
• 2025-08-13 Contingent — MRED as Distributed by MLS Grid
• 2025-07-01 Price Changed $189,900 MRED as Distributed by MLS Grid
• 2025-06-16 Price Changed $194,900 MRED as Distributed by MLS Grid
• 2025-05-19 Listed $199,900 MRED as Distributed by MLS Grid
• 2025-02-24 Contingent — MRED as Distributed by MLS Grid
• 2025-02-22 Listing Removed — MRED as Distributed by MLS Grid
• 2025-01-10 Price Changed — MRED as Distributed by MLS Grid
• 2024-11-02 Price Changed — MRED as Distributed by MLS Grid
• 2024-09-16 Relisted — MRED as Distributed by MLS Grid
• 2024-05-01 Contingent — MRED as Distributed by MLS Grid
• 2024-04-18 Listed — MRED as Distributed by MLS Grid
• 2023-12-28 Contingent — MRED as Distributed by MLS Grid
• 2023-12-27 Relisted — MRED as Distributed by MLS Grid
• 2023-11-10 Contingent — MRED as Distributed by MLS Grid
• 2023-11-09 Listing Removed — MRED as Distributed by MLS Grid
• 2023-10-14 Price Changed — MRED as Distributed by MLS Grid
• 2023-09-18 Price Changed — MRED as Distributed by MLS Grid
• 2023-09-01 Price Changed — MRED as Distributed by MLS Grid
• 2023-08-25 Listed — MRED as Distributed by MLS Grid

Property tax history

+7.8%/yr

Latest (2023): $4,430 · +43.8% YoY. Source: county tax records.