11123 S 84th Ave Unit 2B · Palos Hills, IL 60465

$184,900

2 bd · 1.0 ba · 1,100 sqft · Condo · 3 Days on market

Built 1977 $325/mo HOA · 17% of rent

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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 +13.1/30.0
• ARV discount +7.5/15.0
• 1% rule +5.5/10.0
• Livability +4.0/5.0
• DSCR +3.9/10.0
• Schools +3.4/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to this freshly painted 2-bedroom, 1-bath condo located on the second floor in a well-maintained Palos Hills subdivision with a pool. Enjoy central air, a private balcony, and a spacious kitchen with ample cabinet space and a cozy breakfast nook. Private storage and shared laundry are conveniently located in the building. Surrounded by forest preserves and just minutes from shopping, dining, and local amenities-this home offers comfort and convenience in a peaceful setting

Key facts

• Cozy breakfast nook
• Private balcony
• Spacious kitchen

Tags

• PRIVATE BALCONY
• SPACIOUS KITCHEN
• AMPLE CABINET SPACE
• COZY BREAKFAST NOOK
• PRIVATE STORAGE
• MINUTES FROM SHOPPING

Property features AI

Finance

• Other: Part of a building with 6 units; Parcel number available
• Financial info: Homeowner tax exemption
• HOA & community: Monthly association fee of $325 covering heat, water, and gas; Pets not allowed

Exterior

• Parking: One parking space (total)
• Utilities: Lake Michigan water; Public sewer
• Home design: Attached single (condo); Condo ownership; Entry level: 2; Estimated living area; Facing/other orientation not specified
• Construction: Brick construction; Built 41-50 years ago; Built before 1978
• Exterior features: Common lot; School bus service

Interior

• Kitchen: Kitchen (main level, 14 x 11)
• Bedrooms: Master bedroom (main level, 14 x 11); Bedroom (main level, 11 x 10); Two additional bedrooms listed
• Bathrooms: One full bathroom
• Heating & cooling: Natural gas heating; Central air conditioning
• Interior features: Four total rooms; Dining room; Family room; Living room (main level, 17 x 14)
• Laundry & utility: Laundry room

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $185k.

Deal economics

• At list price, monthly cash flow is $-5 ($-61/yr) — negative.
• To cash-flow at today's rent, offer at most $184k (0.5% below list).
• Meets the 1% rule at list price ($2k rent vs $185k).
• Recommended offer: $184k (0.5% below list) — sets the bar for cash-flow.
• Cap rate 6.3% vs local median 4.1% in Palos Hills — 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 79/100 on livability (#121 in IL, #2,109 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, commute A+, housing A+; Watch: amenities F, health & safety F.
• Cons Hsd 230 (suburban): math 35% / reading 39% proficiency, ranked #146 of 620 in IL (top 24%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 53 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 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

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 17y ago; this cycle's ask is 12% above the opening price — seller raised mid-cycle; expect resistance to lowballs.

Risks & watch-outs

• Climate carrying-cost: moderate flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $184,002 (0.5% 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 1977 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
7. 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?
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: 1.05% ✓
• Cap rate: 6.26%
• Cash-on-cash: -0.12%
• DSCR: 0.99
• GRM: 7.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -16.4%
• Equity multiple: 0.42×
• Total profit: $-30,095
• Equity at exit: $27,569

10-year hold

• IRR: -7.9%
• Equity multiple: 0.50×
• Total profit: $-25,851
• Equity at exit: $15,987

Cash invested: $51,772 (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 60465

• Active inventory: 53
• Price-to-rent: 7.9×

Monthly cashflow live

• Estimated rent: $1,942 high
• Mortgage (P&I): −$970
• Tax from tax record: −$168 /mo · $2,013/yr
• Insurance: −$77
• HOA: −$325
• Vacancy / Maint / Mgmt: −$408
• Net cashflow: $-5

Break-even live

Break-even rent $1,949

Max offer price $184,002

Occupancy floor 95%

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: $46,225
• Closing costs: $5,547
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
11180 Moraine Dr Palos Hills, IL	2.0	1.0	800	$1,700	$2.12	24d	1	0.42mi
11225 S Kean Ave Unit 1A Palos Hills, IL	3.0	2.0	1400	$2,850	$2.04	24d	1	1.12mi
10604 S Oak Tree Dr Worth, IL	2.0	1.0	800	$1,450	$1.81	24d	1	1.40mi
7121 W 110th St Unit 2W Worth, IL	2.0	1.0	900	$1,550	$1.72	14d	1	1.46mi
11920 S 74th Ave Palos Heights, IL	3.0	1.0	950	$3,100	$3.26	1d	1	1.47mi

HOA detail condo

• Monthly dues: $325 · $3,900/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 2 events

1. 2026-06-18
   remarks 688-char remark
2. 2026-06-18
   listed $184,900 Active 3 DOM

ⓘ 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: $2,013 · $168/mo
• Projected year-2 tax: $3,105 · $259/mo
• Expected delta: +$1,092/yr (+$91/mo · 54.3%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 5/10 Major FEMA zone X (unshaded) · 24% 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 3/10 Moderate 4 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,306
• − Mortgage interest: −$10,357
• − Property taxes: −$2,013
• − Insurance: −$924
• − Repairs & maintenance: −$1,864
• − Management: −$1,864
• − HOA: −$3,900
• − Depreciation: −$5,379
• Taxable loss: −$2,996
• Est. tax savings @ 24.0%: +$719
• After-tax cash flow: $658/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: Cons Hsd 230
• NCES district ID: 1708400
• Math proficiency: 35% ▼ -8.00%
• Reading proficiency: 39% ▼ -6.00%
• Median HH income: $73,953
• Composite: 34.29/100
• National rank: #5244
• State rank: #146 of 620 in IL

Livability — Palos Hills

• Score: 79/100
• State rank: #121
• US rank: #2109

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Palos Hills, IL
• County: Cook County · 4,486,803 people
• City population: 18,081
• Metro: Chicago-Naperville-Elgin, IL-IN-WI
• Population (ZIP): 18,081
• Household income: $83,533
• Rent vs Own: 23.1% rent · 76.9% own
• Severe rent burden: 472.0

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 White (81%)
• Race & ethnicity: White 81% Hispanic / Latino 11% Black 5% Two or more races 5% Asian 2%
• Hispanic origin (detail): Mexican 7% Puerto Rican 1%
• Common ancestry: Romanian 31% Armenian 2% Iranian 2%
• Foreign-born: 27% · Canada
• Languages at home: 58% English-only · Russian/Polish/Slavic 22% Other Indo-European 7% Arabic 7%

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: ▼ -133.08%
• Current HPI: 179.8906
• 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

+166.1% since first listed

15 events — show timeline

• 2025-06-27 Sold (Public Records) $165,000 Public Records
• 2025-06-16 Sold (MLS) $165,000 MRED as Distributed by MLS Grid
• 2025-05-07 Contingent — MRED as Distributed by MLS Grid
• 2025-05-02 Listed $165,000 MRED as Distributed by MLS Grid
• 2009-12-22 Sold (MLS) $78,500 MRED as Distributed by MLS Grid
• 2009-10-28 Pending — MRED as Distributed by MLS Grid
• 2009-10-14 Listing Removed — MRED as Distributed by MLS Grid
• 2009-10-02 Price Changed $74,900 MRED as Distributed by MLS Grid
• 2009-07-01 Price Changed $89,900 MRED as Distributed by MLS Grid
• 2009-05-29 Listed $99,900 MRED as Distributed by MLS Grid
• 2005-05-09 Sold (Public Records) $130,000 Public Records
• 2003-05-13 Sold (Public Records) $107,000 Public Records
• 2000-02-16 Sold (Public Records) $77,000 Public Records
• 1992-08-20 Sold (Public Records) $72,000 Public Records
• 1989-11-20 Sold (Public Records) $62,000 Public Records

Property tax history

+0.7%/yr

Latest (2023): $2,013 · +60.8% YoY. Source: county tax records.