3120 Florence Ave · Steger, IL 60475

$168,900

3 bd · 1.0 ba · 1,017 sqft · SingleFamily public records · 105 Days on market

Built 1963 6,250 sqft lot Est $170k · at est.

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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).

• Cash flow +15.6/30.0
• ARV discount +7.7/15.0
• 1% rule +4.8/10.0
• DSCR +4.8/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +0.7/10.0
• Appreciation +0.0/10.0

Listing remarks

Bright and inviting 3-bedroom ranch with a seamless one-level layout, abundant natural light, and a spacious backyard perfect for entertaining. Private driveway and garage add everyday convenience. A standout feature-this home includes leased solar panels, offering energy efficiency and potential savings on utility costs. A great opportunity for buyers looking for comfort, value, and long-term benefits. Schedule your showing today-this one won't last.

Key facts

• Spacious backyard
• Private driveway
• Leased solar panels

Tags

• SPACIOUS BACKYARD
• PRIVATE DRIVEWAY
• LEASED SOLAR PANELS

Property features AI

Finance

• Other: Assessors' living area source; Total finished area reported as 1,017
• HOA & community: No master association fee required

Exterior

• Parking: Attached garage (garage owned); total of 1 parking space on property; Concrete parking surfaces
• Utilities: Public water; Public sewer; Electric with circuit breakers
• Home design: Detached single-family home; One-story; Fee simple ownership; Property currently leased
• Construction: Built approximately 61–70 years ago (built before 1978); Vinyl siding with brick accents; Asphalt roof; Concrete perimeter foundation
• Exterior features: Patio; Lot dimensions approximately 50 x 125

Interior

• Kitchen: Range; Dishwasher; Refrigerator; Eating area / table space
• Bedrooms: Three bedrooms (all on the main level); Master bedroom on the main level
• Flooring: Laminate flooring overall; Vinyl flooring in the kitchen and laundry; Wood laminate in the living room
• Bathrooms: One full bathroom
• Heating & cooling: Forced air heating; Natural gas heating; Solar (house has solar)
• Interior features: Five total rooms; School bus service and commuter bus access nearby; Street lights, curbs, sidewalks, and paved streets in the neighborhood
• Laundry & utility: In-unit laundry with gas dryer hookup and utility sink; Washer and dryer included

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $169k.

Deal economics

• At list price, monthly cash flow is $71 ($854/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $165k (2.1% below list).
• Recommended offer: $154k (9.0% below list) — sets the bar for market timing.
• Cap rate 6.8% vs local median 5.4% in Steger — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

Location & tenants

• Location reads 67/100 on livability (#498 in IL) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: employment C-, health & safety D+, schools 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.
• Market conditions: 43 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals at typical pace (median 25d 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 $5k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 105 days — a 9% lower offer ($154k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 4y 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 $99k; list at $169k implies a 71% gain — meaningful room to come down on a strong offer.

Recommended offer $153,699 (9.0% below list)

Questions for the listing agent

1. It's been on market 105 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1963 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 0.98% ✗
• Cap rate: 6.80%
• Cash-on-cash: 1.81%
• DSCR: 1.08
• GRM: 8.5

CMA / ARV

• ARV (on-the-fly): $169,839
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3129 Butler Ave	0.09mi	3/1.0	1,017 (0%)	4mo	$167,500	$165	92
3144 Phillips Ave	0.09mi	3/1.5	1,008 (-1%)	8mo	$215,000	$213	86
3228 Butler Ave	0.16mi	3/1.0	1,032 (+2%)	7mo	$215,000	$208	84
3241 Wallace Ave	0.20mi	3/1.5	1,152 (+13%)	1mo	$115,000	$100	66
3128 Peoria St	0.63mi	3/1.0	1,008 (-1%)	11mo	$173,000	$172	60
3035 Peoria St	0.61mi	4/2.0 (+1)	1,000 (-2%)	3mo	$170,000	$170	57
3500 Butler Ave	0.47mi	3/1.0	1,130 (+11%)	9mo	$98,500	$87	52
241 Tiverton Ln	0.74mi	2/1.0 (-1)	1,031 (+1%)	10mo	$165,000	$160	50
212 Durham Dr	0.63mi	3/1.0	896 (-12%)	3mo	$149,900	$167	49
248 Dorsetshire St	0.66mi	2/1.0 (-1)	926 (-9%)	3mo	$60,000	$65	47
329 Dorsetshire Dr	0.75mi	3/1.0	864 (-15%)	3mo	$82,500	$95	38
3545 Halsted Blvd	0.73mi	4/2.0 (+1)	1,153 (+13%)	10mo	$225,000	$195	26

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: -13.4%
• Equity multiple: 0.52×
• Total profit: $-22,770
• Equity at exit: $25,184

10-year hold

• IRR: -4.4%
• Equity multiple: 0.71×
• Total profit: $-13,720
• Equity at exit: $14,603

Cash invested: $47,292 (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 60475

• Active inventory: 43
• Price-to-rent: 8.5×

Monthly cashflow live

• Estimated rent: $1,654 high
• Mortgage (P&I): −$886
• Tax from tax record: −$279 /mo · $3,351/yr
• Insurance: −$70
• HOA: −$0
• Vacancy / Maint / Mgmt: −$347
• Net cashflow: $71

Break-even live

Break-even rent $1,564

Max offer price $168,900

Occupancy floor 91%

Sensitivity live

Price	-10% $167	-5% $119	+0% $71	+5% $23	+10% $-24
Rent	-10% $-59	-5% $6	+0% $71	+5% $136	+10% $202
Rate	-1.0pp $156	-0.5pp $114	base $71	+0.5pp $27	+1.0pp $-17

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: $42,225
• Closing costs: $5,067
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3135 Chicago Rd Unit 2nd Steger, IL	2.0	1.0	1300	$1,650	$1.27	25d	1	0.33mi
22 E 35th St Steger, IL	2.0	1.0	740	$1,250	$1.69	25d	1	0.49mi
3763 Emerald Ave Steger, IL	3.0	1.0	1125	$1,950	$1.73	25d	1	0.94mi
236 Chestnut Ave Unit S South Chicago Heights, IL	3.0	1.0	1032	$2,000	$1.94	25d	1	0.97mi
316 W 34th St Steger, IL	3.0	1.0–1.5	720	$1,715	$2.38	2d	5	1.12mi
169 E 23rd St Unit 1F Chicago Heights, IL	3.0	1.0	1200	$1,550	$1.29	13d	1	1.42mi

Listing history 29 events

1. 2026-06-18
   days on market $168,900 Active 105 DOM
2. 2026-06-17
   days on market $168,900 Active 104 DOM
3. 2026-06-16
   days on market $168,900 Active 103 DOM
4. 2026-06-15
   days on market $168,900 Active 102 DOM
5. 2026-06-13
   days on market $168,900 Active 100 DOM
6. 2026-06-13
   days on market $168,900 Active 99 DOM
7. 2026-06-09
   statusdays on market $168,900 Active 96 DOM
8. 2026-06-08
   days on market $168,900 Contingent - Continue to Show 95 DOM
9. 2026-06-07
   days on market $168,900 Contingent - Continue to Show 94 DOM
10. 2026-06-04
    days on market $168,900 Contingent - Continue to Show 91 DOM
11. 2026-06-03
    days on market $168,900 Contingent - Continue to Show 90 DOM
12. 2026-06-02
    days on market $168,900 Contingent - Continue to Show 89 DOM
13. 2026-06-01
    days on market $168,900 Contingent - Continue to Show 88 DOM
14. 2026-05-31
    days on market $168,900 Contingent - Continue to Show 87 DOM
15. 2026-05-19
    historical Contingent - Continue to Show
16. 2026-04-09
    price $168,900
17. 2026-03-05
    listed $170,000 Active
18. 2026-03-05
    historical
19. 2026-02-01
    listed Active
20. 2026-01-13
    historical
21. 2025-11-14
    price
22. 2025-10-14
    listed Active
23. 2022-05-11
    soldstatus $99,000
24. 2022-05-09
    soldstatus $99,000 Closed
25. 2022-04-01
    historical Contingent - Continue to Show
26. 2022-03-28
    listed $109,900 Active
27. 1992-06-04
    soldstatus $162,000
28. 1984-08-02
    soldstatus $48,000
29. 1984-07-01
    soldstatus $48,000

ⓘ 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: $3,351 · $279/mo
• Projected year-2 tax: $3,592 · $299/mo
• Expected delta: +$242/yr (+$20/mo · 7.2%)

ⓘ 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 · 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: $19,845
• − Mortgage interest: −$9,461
• − Property taxes: −$3,351
• − Insurance: −$844
• − Repairs & maintenance: −$1,588
• − Management: −$1,588
• − Depreciation: −$4,913
• Taxable loss: −$1,899
• Est. tax savings @ 24.0%: +$456
• After-tax cash flow: $1,310/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 — Steger

• Score: 67/100
• State rank: #498
• US rank: #10279

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Steger, IL
• City population: 10,103
• Population (ZIP): 10,103

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: White 52% Hispanic / Latino 23% Black 18% Two or more races 11% Asian 1%
• Hispanic origin (detail): Mexican 21%
• Common ancestry: Romanian 5% Lithuanian 1% Italian 1%
• Foreign-born: 7% · Canada, South Korea
• Languages at home: 85% English-only · Spanish 13% 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: ▼ -92.95%
• Current HPI: 134.0677
• 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

+251.9% since first listed

15 events — show timeline

• 2026-05-19 Contingent — MRED as Distributed by MLS Grid
• 2026-04-09 Price Changed $168,900 MRED as Distributed by MLS Grid
• 2026-03-05 Listing Removed — MRED as Distributed by MLS Grid
• 2026-03-05 Listed $170,000 MRED as Distributed by MLS Grid
• 2026-02-01 Listed — MRED as Distributed by MLS Grid
• 2026-01-13 Listing Removed — MRED as Distributed by MLS Grid
• 2025-11-14 Price Changed — MRED as Distributed by MLS Grid
• 2025-10-14 Listed — MRED as Distributed by MLS Grid
• 2022-05-11 Sold (Public Records) $99,000 Public Records
• 2022-05-09 Sold (MLS) $99,000 MRED as Distributed by MLS Grid
• 2022-04-01 Contingent — MRED as Distributed by MLS Grid
• 2022-03-28 Listed $109,900 MRED as Distributed by MLS Grid
• 1992-06-04 Sold (Public Records) $162,000 Public Records
• 1984-08-02 Sold (Public Records) $48,000 Public Records
• 1984-07-01 Sold (Public Records) $48,000 Public Records

Property tax history

+4.5%/yr

Latest (2023): $3,351 · +69.7% YoY. Source: county tax records.