1207 Emerald Ave · Chicago Heights, IL 60411

$152,900

4 bd · 2.0 ba · 1,656 sqft · MultiFamily public records · 6 Days on market

Built 1913 3,720 sqft lot

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Why this score? — see what drove the B- 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Rent growth +4.1/5.0
• Livability +3.6/5.0
• Condition / age +2.5/5.0
• Schools +0.7/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

2 Unit building. Ideal for rental income. Sold As-Is. Buyer is responsible for any and all city repairs and escrows. Seller provides no disclosures or surveys. All offers must include proof of funds/pre-approval letter. Cash offers require at least 10% earnest money. Call listing agent for offer instructions.

Key facts

• New furnace
• New water heater
• Full basement

Tags

• FULL BASEMENT
• NEW FURNACE
• NEW WATER HEATER
• NEW FRONT PORCH STAIRS
• RECENT INTERIOR PAINTING

Property features AI

Finance

• Other: Possession at closing subject to tenants' rights
• Financial info: Two-unit building; Month-to-month leases for both units; Unit 1 rent: $1,300 with $1,300 security deposit; Unit 2 rent: $1,300 with $1,300 security deposit; Special Service Area: No

Exterior

• Parking: 4 parking spaces (off alley)
• Utilities: Water from Lake Michigan; Public sewer
• Home design: Two- to four-unit building; Fee simple ownership; Over 100 years old; Built before 1978; 30 x 124 lot dimensions; Less than 0.25 acre lot
• Construction: Vinyl siding on frame construction
• Exterior features: Commuter bus and train access nearby; Interstate access

Interior

• Kitchen: Stove; Refrigerator
• Bedrooms: 6 bedrooms total; Unit 1 (1st floor): 3 bedrooms; Unit 2 (2nd floor): 3 bedrooms
• Bathrooms: 2 full bathrooms total; Unit 1: 1 full bathroom; Unit 2: 1 full bathroom
• Heating & cooling: Natural gas forced air heating
• Interior features: Partially finished full basement; 8 total rooms
• Laundry & utility: Tenant pays electric and gas (for each unit)

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/1.0-bath units multifamily listed at $153k.

Deal economics

• At list price, monthly cash flow is $2k ($20k/yr) — positive. Per door: $838/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $153k).
• Cap rate 19.4% vs local median 6.4% in Chicago Heights — 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 71/100 on livability (#339 in IL) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: employment C-, crime F, 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: Bloom High School (math 7% / reading 8%, grade F, #589 of 693 statewide, top 86%, 1,737 students, 0% FRL).
• Market conditions: Rents rising fast (+6.5%/yr); 222 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals leasing fast (median 11d on market — plan ~1-2 weeks tenant-placement turnaround); 6,272 units permitted in Cook County in 2024 (4,658 in 5+ unit buildings).
• At $3,701/mo this rent would consume 72% of the median local household income ($62k/yr) (locally 1714% 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 $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 6.5% rent growth), your $43k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 17y ago 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 $18k; list at $153k implies a 749% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 3.0% of price; built in 1913 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $152,900

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1913 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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. 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?
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 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: 2.42% ✓
• Cap rate: 19.45%
• Cash-on-cash: 46.99%
• DSCR: 3.09
• GRM: 3.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 6.48% rent growth · sell at horizon

5-year hold

• IRR: 48.5%
• Equity multiple: 3.23×
• Total profit: $95,580
• Equity at exit: $22,798

10-year hold

• IRR: 55.7%
• Equity multiple: 7.55×
• Total profit: $280,538
• Equity at exit: $13,220

Cash invested: $42,812 (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 60411

• Home prices YoY: -33.9%
• Rents YoY: 6.5%
• Active inventory: 222
• Price-to-rent: 6.9×

Monthly cashflow live

• Estimated rent: $3,701 high
• Mortgage (P&I): −$802
• Tax from tax record: −$382 /mo · $4,582/yr
• Insurance: −$64
• HOA: −$0
• Vacancy / Maint / Mgmt: −$777
• Net cashflow: $1,676

Break-even live

Break-even rent $1,579

Max offer price $152,900

Occupancy floor 50%

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	1	$3,700
Total (2 units)			$3,701

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: $38,225
• Closing costs: $4,587
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1203 Emerald Ave Unit 1 Chicago Heights, IL	3.0	1.0	1200	$1,550	$1.29	1d	1	0.04mi
41 W 14th Pl Unit 1 Chicago Heights, IL	3.0	1.0	1250	$1,750	$1.40	10d	1	0.52mi
83 W 15th St #1 Chicago Heights, IL	3.0	1.0	1050	$1,500	$1.43	3d	1	0.63mi
1631 Buena Vista Ave Unit 2 Chicago Heights, IL	4.0	1.0	1200	$1,900	$1.58	24d	1	0.82mi
531 Wallace St Chicago Heights, IL	3.0	1.0	1100	$2,000	$1.82	5d	1	0.87mi
1665 Buena Vista Ave Unit 3 Chicago Heights, IL	4.0	1.0	1700	$1,800	$1.06	18d	1	0.87mi
169 E 23rd St Unit 1F Chicago Heights, IL	3.0	1.0	1200	$1,550	$1.29	12d	1	1.02mi
398 W Lincoln Hwy Unit 4 Chicago Heights, IL	3.0	2.0	1200	$1,850	$1.54	1d	1	1.27mi
370 E 17th St Chicago Heights, IL	3.0	1.0	1058	$2,600	$2.46	16d	1	1.36mi

Listing history 21 events

1. 2026-05-04
   status Pending
2. 2026-04-27
   listed $152,900 Active
3. 2011-07-20
   soldstatus $18,000
4. 2011-03-29
   soldstatus $11,000 Closed Sale 310-char remark

   Show marketing remark (310 chars)

   2 Unit building. Ideal for rental income. Sold As-Is. Buyer is responsible for any and all city repairs and escrows. Seller provides no disclosures or surveys. All offers must include proof of funds/pre-approval letter. Cash offers require at least 10% earnest money. Call listing agent for offer instructions.

5. 2011-03-08
   status Pending 310-char remark

   Show marketing remark (310 chars)

   2 Unit building. Ideal for rental income. Sold As-Is. Buyer is responsible for any and all city repairs and escrows. Seller provides no disclosures or surveys. All offers must include proof of funds/pre-approval letter. Cash offers require at least 10% earnest money. Call listing agent for offer instructions.

6. 2011-02-25
   price $10,900 Price Change 310-char remark

   Show marketing remark (310 chars)

   2 Unit building. Ideal for rental income. Sold As-Is. Buyer is responsible for any and all city repairs and escrows. Seller provides no disclosures or surveys. All offers must include proof of funds/pre-approval letter. Cash offers require at least 10% earnest money. Call listing agent for offer instructions.

7. 2011-01-30
   price $14,900 Price Change 310-char remark

   Show marketing remark (310 chars)

   2 Unit building. Ideal for rental income. Sold As-Is. Buyer is responsible for any and all city repairs and escrows. Seller provides no disclosures or surveys. All offers must include proof of funds/pre-approval letter. Cash offers require at least 10% earnest money. Call listing agent for offer instructions.

8. 2010-12-20
   price $18,900 Price Change 310-char remark

   Show marketing remark (310 chars)

   2 Unit building. Ideal for rental income. Sold As-Is. Buyer is responsible for any and all city repairs and escrows. Seller provides no disclosures or surveys. All offers must include proof of funds/pre-approval letter. Cash offers require at least 10% earnest money. Call listing agent for offer instructions.

9. 2010-11-11
   listed $23,900 New 310-char remark

   Show marketing remark (310 chars)

   2 Unit building. Ideal for rental income. Sold As-Is. Buyer is responsible for any and all city repairs and escrows. Seller provides no disclosures or surveys. All offers must include proof of funds/pre-approval letter. Cash offers require at least 10% earnest money. Call listing agent for offer instructions.

10. 2009-11-22
    historical
11. 2009-09-17
    price Price Change
12. 2009-08-15
    price Price Change
13. 2009-06-21
    price
14. 2009-06-09
    price
15. 2009-06-01
    status
16. 2009-06-01
    historical
17. 2009-05-22
    listed
18. 2006-05-10
    soldstatus $135,000
19. 2006-05-10
    soldstatus $135,000
20. 2003-10-27
    soldstatus $64,000
21. 1989-11-13
    soldstatus $40,000

ⓘ 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: $4,582 · $382/mo
• Projected year-2 tax: $4,582 · $382/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 3/10 Moderate
• 🌡 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: $44,412
• − Mortgage interest: −$8,565
• − Property taxes: −$4,582
• − Insurance: −$764
• − Repairs & maintenance: −$3,553
• − Management: −$3,553
• − Depreciation: −$4,448
• Taxable income: $18,947
• Est. tax owed @ 24.0%: −$4,547
• After-tax cash flow: $15,570/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 — Chicago Heights

• Score: 71/100
• State rank: #339
• US rank: #6836

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Chicago Heights, IL
• County: Cook County · 4,486,803 people
• City population: 52,175
• Metro: Chicago-Naperville-Elgin, IL-IN-WI
• Population (ZIP): 52,175
• Household income: $62,073
• Rent vs Own: 34.8% rent · 65.2% own
• Severe rent burden: 1714.0

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 0.66)
• Race & ethnicity: Black 49% Hispanic / Latino 26% White 19% Two or more races 11%
• Hispanic origin (detail): Mexican 22% Puerto Rican 2%
• Common ancestry: Romanian 4% Portuguese 1% Lithuanian 1%
• Foreign-born: 12% · Canada
• Languages at home: 76% English-only · Spanish 21% Russian/Polish/Slavic 1% 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: ▼ -108.75%
• Current HPI: 212.4058
• Rent YoY: ▲ 6.48%
• 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

+282.2% since first listed

21 events — show timeline

• 2026-05-04 Pending — MRED as Distributed by MLS Grid
• 2026-04-27 Listed $152,900 MRED as Distributed by MLS Grid
• 2011-07-20 Sold (Public Records) $18,000 Public Records
• 2011-03-29 Sold (MLS) $11,000 MRED as Distributed by MLS Grid
• 2011-03-08 Pending — MRED as Distributed by MLS Grid
• 2011-02-25 Price Changed $10,900 MRED as Distributed by MLS Grid
• 2011-01-30 Price Changed $14,900 MRED as Distributed by MLS Grid
• 2010-12-20 Price Changed $18,900 MRED as Distributed by MLS Grid
• 2010-11-11 Listed $23,900 MRED as Distributed by MLS Grid
• 2009-11-22 Listing Removed — MRED as Distributed by MLS Grid
• 2009-09-17 Price Changed — MRED as Distributed by MLS Grid
• 2009-08-15 Price Changed — MRED as Distributed by MLS Grid
• 2009-06-21 Price Changed — MRED as Distributed by MLS Grid
• 2009-06-09 Price Changed — MRED as Distributed by MLS Grid
• 2009-06-01 Relisted — MRED as Distributed by MLS Grid
• 2009-06-01 Listing Removed — MRED as Distributed by MLS Grid
• 2009-05-22 Listed — MRED as Distributed by MLS Grid
• 2006-05-10 Sold (Public Records) $135,000 Public Records
• 2006-05-10 Sold (Public Records) $135,000 Public Records
• 2003-10-27 Sold (Public Records) $64,000 Public Records
• 1989-11-13 Sold (Public Records) $40,000 Public Records

Property tax history

+1.9%/yr

Latest (2023): $4,582 · -11.9% YoY. Source: county tax records.