15603 Park Ln · South Holland, IL 60473

$199,900

3 bd · 1.0 ba · 864 sqft · SingleFamily public records · 22 Days on market

Built 1954 Est $152k · 31% over

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Why this score? — see what drove the F 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 +9.3/30.0
• Livability +3.9/5.0
• 1% rule +3.6/10.0
• DSCR +2.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +0.7/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Key facts

• Fully remodeled
• Updated kitchen
• Natural sunlight

Tags

• FULLY REMODELED
• UPDATED BATHROOM
• UPDATED KITCHEN
• STAINLESS STEEL APPLIANCES
• BRAND-NEW WASHER/DRYER
• NATURAL SUNLIGHT

Property features AI

Finance

• Other: Property not currently leased; Possession at closing
• HOA & community: No master association fee required

Exterior

• Parking: Detached garage with garage door opener (concrete, side driveway); Two total parking spaces, two garage spaces
• Utilities: Water from Lake Michigan; Public sewer; Electric with circuit breakers
• Home design: Detached single-family home; One-story layout; Fee simple ownership; Rehab completed in 2025; Estimated living area approximately 1,200 finished square feet; Built before 1978
• Construction: Vinyl siding; Asphalt roof; Estimated age range: 71–80 years
• Exterior features: Deck

Interior

• Kitchen: Kitchen on main level with ceramic tile flooring, approx. 12 x 10
• Bedrooms: Master bedroom (main level) — carpeted, approx. 16 x 12; Bedroom 2 (main level) — carpeted, approx. 11 x 9; Bedroom 3 (main level) — carpeted, approx. 9 x 7
• Flooring: Carpet in main living areas and bedrooms; Ceramic tile in kitchen; Vinyl in laundry
• Bathrooms: One full bathroom
• Heating & cooling: Natural gas forced air heating; Central air conditioning
• Interior features: Five total rooms; Window screens; Electric fireplace in the living room
• Laundry & utility: In-unit laundry (main level) with vinyl flooring, approx. 8 x 7

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $200k.

Deal economics

• At list price, monthly cash flow is $-147 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $174k (13.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $172k (13.8% below list).
• Recommended offer: $172k (13.8% below list) — sets the bar for 1% rule.
• Cap rate 5.4% vs local median 8.4% in South Holland — 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 (#167 in IL, #3,071 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, housing A+, cost of living A; Watch: crime C-, amenities C-, schools D+.
• Thornton Twp Hsd 205 (suburban): math 7% / reading 8% proficiency, ranked #594 of 620 in IL (top 96%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 135 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 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 $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 22 days — a 2% lower offer ($197k) is reasonable based on typical stale-listing flexibility.
• 4 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 $75k; list at $200k implies a 167% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1954 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $172,376 (13.8% 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. Built in 1954 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 0.86% ✗
• Cap rate: 5.41%
• Cash-on-cash: -3.15%
• DSCR: 0.86
• GRM: 9.7

CMA / ARV

• ARV (on-the-fly): $152,064
• Comps found: 6

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
15532 Elm St	0.08mi	3/1.0	936 (+8%)	12mo	$159,900	$171	72
15503 Park Ln	0.18mi	3/2.0	968 (+12%)	0mo	$170,000	$176	68
15445 Elm St	0.15mi	4/1.5 (+1)	912 (+6%)	15mo	$185,000	$203	64
15732 Chicago Rd	0.23mi	3/1.0	782 (-10%)	19mo	$147,873	$189	58
15402 Cherry St	0.24mi	3/1.5	988 (+14%)	17mo	$140,000	$142	49
15325 Cottage Grove Ave	0.51mi	2/1.0 (-1)	955 (+10%)	12mo	$158,000	$165	43

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: -21.5%
• Equity multiple: 0.26×
• Total profit: $-41,659
• Equity at exit: $29,806

10-year hold

• IRR: -15.0%
• Equity multiple: 0.14×
• Total profit: $-47,919
• Equity at exit: $17,284

Cash invested: $55,972 (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 60473

• Active inventory: 135
• Price-to-rent: 9.7×

Monthly cashflow live

• Estimated rent: $1,724 medium
• Mortgage (P&I): −$1,048
• Tax from tax record: −$377 /mo · $4,528/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$362
• Net cashflow: $-147

Break-even live

Break-even rent $1,910

Max offer price $173,908

Occupancy floor —

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: $49,975
• Closing costs: $5,997
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
15238 Doctor Martin Luther King Junior Dr Unit 2W Dolton, IL	2.0	1.0	800	$1,500	$1.88	10d	1	0.41mi
14817 Champlain Ave Dolton, IL	2.0	1.0	980	$2,430	$2.48	21d	1	0.95mi
14500 Cottage Grove Ave Unit 3 Dolton, IL	2.0	1.0	1000	$1,475	$1.48	24d	1	1.43mi

Listing history 32 events

1. 2026-06-18
   days on market $199,900 Active 22 DOM
2. 2026-06-17
   days on market $199,900 Active 21 DOM
3. 2026-06-16
   days on market $199,900 Active 20 DOM
4. 2026-06-15
   days on market $199,900 Active 19 DOM
5. 2026-06-13
   days on market $199,900 Active 17 DOM
6. 2026-06-13
   days on market $199,900 Active 16 DOM
7. 2026-06-09
   days on market $199,900 Active 13 DOM
8. 2026-06-08
   days on market $199,900 Active 12 DOM
9. 2026-06-07
   days on market $199,900 Active 11 DOM
10. 2026-06-04
    days on market $199,900 Active 8 DOM
11. 2026-06-03
    days on market $199,900 Active 7 DOM
12. 2026-06-02
    days on market $199,900 Active 6 DOM
13. 2026-06-01
    days on market $199,900 Active 5 DOM
14. 2026-05-31
    days on market $199,900 Active 4 DOM
15. 2026-05-27
    historical
16. 2026-05-27
    listed $199,900 Active
17. 2026-05-12
    historical
18. 2026-04-09
    listed Active
19. 2026-04-06
    historical
20. 2026-04-01
    price
21. 2026-03-05
    price
22. 2026-02-25
    listed Active
23. 2025-12-15
    historical
24. 2025-09-24
    price
25. 2025-08-12
    price
26. 2025-06-16
    price
27. 2025-05-29
    listed Active
28. 2025-05-12
    historical
29. 2024-11-07
    soldstatus $75,000
30. 2024-09-27
    soldstatus $75,000 Closed
31. 2024-09-03
    historical Contingent - No Showings
32. 2024-08-23
    price $109,000

ⓘ 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: $4,528 · $377/mo
• Projected year-2 tax: $4,533 · $378/mo
• Expected delta: +$5/yr ($0/mo · 0.1%)

ⓘ 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 · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,685
• − Mortgage interest: −$11,198
• − Property taxes: −$4,528
• − Insurance: −$1,000
• − Repairs & maintenance: −$1,655
• − Management: −$1,655
• − Depreciation: −$5,815
• Taxable loss: −$5,165
• Est. tax savings @ 24.0%: +$1,239
• After-tax cash flow: $-526/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 Twp Hsd 205
• NCES district ID: 1738970
• Math proficiency: 7% ▬ 0.00%
• Reading proficiency: 8% ▼ -2.00%
• Median HH income: $43,392
• Composite: 6.92/100
• National rank: #9976
• State rank: #594 of 620 in IL

Livability — South Holland

• Score: 77/100
• State rank: #167
• US rank: #3071

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: South Holland, IL
• City population: 21,407
• Population (ZIP): 21,407

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 Black (75%)
• Race & ethnicity: Black 75% White 10% Hispanic / Latino 10% Two or more races 3% Asian 1%
• Hispanic origin (detail): Mexican 9% Puerto Rican 1%
• Common ancestry: Iranian 3% Romanian 2%
• Foreign-born: 6% · Canada, China
• Languages at home: 87% English-only · Spanish 8% Other Asian/Pacific 1% Russian/Polish/Slavic 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: ▼ -114.36%
• Current HPI: 201.2479
• 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

+83.4% since first listed

18 events — show timeline

• 2026-05-27 Listed $199,900 MRED as Distributed by MLS Grid
• 2026-05-27 Listing Removed — MRED as Distributed by MLS Grid
• 2026-05-12 Listing Removed — MRED as Distributed by MLS Grid
• 2026-04-09 Listed — MRED as Distributed by MLS Grid
• 2026-04-06 Listing Removed — MRED as Distributed by MLS Grid
• 2026-04-01 Price Changed — MRED as Distributed by MLS Grid
• 2026-03-05 Price Changed — MRED as Distributed by MLS Grid
• 2026-02-25 Listed — MRED as Distributed by MLS Grid
• 2025-12-15 Listing Removed — MRED as Distributed by MLS Grid
• 2025-09-24 Price Changed — MRED as Distributed by MLS Grid
• 2025-08-12 Price Changed — MRED as Distributed by MLS Grid
• 2025-06-16 Price Changed — MRED as Distributed by MLS Grid
• 2025-05-29 Listed — MRED as Distributed by MLS Grid
• 2025-05-12 Listing Removed — MRED as Distributed by MLS Grid
• 2024-11-07 Sold (Public Records) $75,000 Public Records
• 2024-09-27 Sold (MLS) $75,000 MRED as Distributed by MLS Grid
• 2024-09-03 Contingent — MRED as Distributed by MLS Grid
• 2024-08-23 Price Changed $109,000 MRED as Distributed by MLS Grid

Property tax history

+3.9%/yr

Latest (2023): $4,528 · +46.9% YoY. Source: county tax records.