5003 W 31st St · Cicero, IL 60804

$629,000

6 bd · 2.0 ba · 2,082 sqft · MultiFamily public records · 35 Days on market

Built 1902

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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 +9.9/30.0
• ARV discount +7.5/15.0
• Livability +4.1/5.0
• Rent growth +3.1/5.0
• DSCR +2.8/10.0
• 1% rule +2.6/10.0
• 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 (2-4 Unit). Listing-text estimate: 3 units. confirmed

Listing remarks MLS

Great investment opportunity in Cicero! This property offers solid potential for rental income or future value-add. Convenient location close to shops, schools, and transportation. *Seller is conveying this property subject to the inspection report located in the additional information section on this MLS listing. Property being sold as-is*

Key facts

• Rental income unit
• Full gut rehab
• Master bedroom bath

Tags

• FULL GUT REHAB
• MASTER BEDROOM BATH
• RENTAL INCOME UNIT
• FULL FINISHED BASEMENT

Property features AI

Finance

• Other: Property listed as income-producing with unit rents reported (first-floor unit rent $2,000; second-floor unit rent $2,900); Tenants pay utilities including electric, gas, and heat
• Financial info: Special service area: No

Exterior

• Parking: Detached garage with 2 garage spaces (2 total parking spaces)
• Utilities: Public water; Public sewer
• Home design: Two- to four-unit property (2 units total); Rehab completed/recorded in 2026; Fee simple ownership; Building over 100 years old; built before 1978
• Construction: Vinyl siding exterior; Asphalt roof; Structure rehabilitated in 2026
• Exterior features: Less than 0.25 acre lot; Lot dimensions listed as 3130; School bus service available

Interior

• Kitchen: Stove and refrigerator in both units
• Bedrooms: 10 total bedrooms across units; Three-bedroom unit on first floor; Five-bedroom unit on second floor
• Flooring: Hardwood floors in units
• Bathrooms: 4 full bathrooms total; First-floor unit: 1 full bath; Second-floor unit: 2 full baths
• Heating & cooling: Natural gas forced-air heating; Central air conditioning
• Interior features: 14 total rooms; Finished basement with 8+ ft poured ceiling, recreation/family area, sleeping area, full bath, and walk-up access; Community amenities nearby: park, pool, sidewalks, street lights, paved streets
• Laundry & utility: Washer and dryer included in second-floor unit; Laundry hook-up in second-floor unit

What this means for you Summary

Snapshot

• This is a 3 × 3-bed/1.3-bath units multifamily listed at $629k.

Deal economics

• At list price, monthly cash flow is $-390 ($-5k/yr) — negative. Per door: $-130/mo.
• To cash-flow at today's rent, offer at most $560k (11.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $479k (23.9% below list).
• Recommended offer: $479k (23.9% below list) — sets the bar for 1% rule.
• Cap rate 5.5% vs local median 4.6% in Cicero — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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; 6,272 units permitted in Cook County in 2024 (4,658 in 5+ unit buildings).
• At $4,787/mo this rent would consume 81% 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 $4k of loan paydown is wiped out by about $19k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 35 days — a 3% lower offer ($610k) is reasonable based on typical stale-listing flexibility.
• 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 $195k; list at $629k implies a 223% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1902 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $478,700 (23.9% 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 35 days. Have you received any prior offers? Is the seller open to a 24% concession, seller financing, or rate buy-down credit?
3. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
4. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
5. Built in 1902 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. 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.
10. 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.
11. 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: 0.76% ✗
• Cap rate: 5.55%
• Cash-on-cash: -2.66%
• DSCR: 0.88
• GRM: 10.9

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: -21.3%
• Equity multiple: 0.26×
• Total profit: $-129,543
• Equity at exit: $93,786

10-year hold

• IRR: -16.3%
• Equity multiple: 0.11×
• Total profit: $-156,023
• Equity at exit: $54,384

Cash invested: $176,120 (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: 32.8×

Monthly cashflow live

• Estimated rent: $4,787 medium
• Mortgage (P&I): −$3,299
• Tax from tax record: −$611 /mo · $7,336/yr
• Insurance: −$262
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,005
• Net cashflow: $-390

Break-even live

Break-even rent $5,281

Max offer price $560,068

Occupancy floor —

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

Units	Beds	Baths	Est. rent
▸ 3× units	3	1.3	$4,788
Total (3 units)			$4,787

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: $157,250
• Closing costs: $18,870
• Reserves months: —
• Total cash needed: —

Listing history 7 events

1. 2026-04-28
   status Pending
2. 2026-04-22
   historical Contingent - Continue to Show
3. 2026-03-24
   listed $629,000 Active
4. 2026-01-15
   soldstatus $195,000
5. 2026-01-09
   soldstatus $194,900 Closed 342-char remark

   Show marketing remark (342 chars)

   Great investment opportunity in Cicero! This property offers solid potential for rental income or future value-add. Convenient location close to shops, schools, and transportation. *Seller is conveying this property subject to the inspection report located in the additional information section on this MLS listing. Property being sold as-is*

6. 2025-12-18
   historical Contingent - No Showings 342-char remark

   Show marketing remark (342 chars)

   Great investment opportunity in Cicero! This property offers solid potential for rental income or future value-add. Convenient location close to shops, schools, and transportation. *Seller is conveying this property subject to the inspection report located in the additional information section on this MLS listing. Property being sold as-is*

7. 2025-12-12
   listed $164,900 Active 342-char remark

   Show marketing remark (342 chars)

   Great investment opportunity in Cicero! This property offers solid potential for rental income or future value-add. Convenient location close to shops, schools, and transportation. *Seller is conveying this property subject to the inspection report located in the additional information section on this MLS listing. Property being sold as-is*

ⓘ 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: $7,336 · $611/mo
• Projected year-2 tax: $10,807 · $901/mo
• Expected delta: +$3,471/yr (+$289/mo · 47.3%)

ⓘ 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 ≥99°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $57,444
• − Mortgage interest: −$35,234
• − Property taxes: −$7,336
• − Insurance: −$3,145
• − Repairs & maintenance: −$4,596
• − Management: −$4,596
• − Depreciation: −$18,298
• Taxable loss: −$15,760
• Est. tax savings @ 24.0%: +$3,782
• After-tax cash flow: $-900/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

+281.4% since first listed

7 events — show timeline

• 2026-04-28 Pending — MRED as Distributed by MLS Grid
• 2026-04-22 Contingent — MRED as Distributed by MLS Grid
• 2026-03-24 Listed $629,000 MRED as Distributed by MLS Grid
• 2026-01-15 Sold (Public Records) $195,000 Public Records
• 2026-01-09 Sold (MLS) $194,900 MRED as Distributed by MLS Grid
• 2025-12-18 Contingent — MRED as Distributed by MLS Grid
• 2025-12-12 Listed $164,900 MRED as Distributed by MLS Grid

Property tax history

+3.7%/yr

Latest (2023): $7,336 · +12.9% YoY. Source: county tax records.