2306 Holiday Ter #144 · Lansing, IL 60438

$90,000

2 bd · 1.0 ba · 1,200 sqft · Condo · 174 Days on market

$299/mo HOA · 20% of rent

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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 +28.2/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Newly remodeled 2 Bedroom / 1 Bathroom First Floor Condo. Perfect for occupants that do not want stairs. Brand new Grey Shaker Kitchen Cabinets with Pure White Quartz Counter Tops. Brand new Samsung Stainless Steel Appliances. New Engineered Hardwood Floors, Updated Bathrooms, new vanities and fixtures. New Paint, Blinds, Trim, Doors & More! Brand New AC UNIT. Freshly painted, Brand new carpeting throughout. Updated bath. Brand new air unit and water heater. Sliding doors that lead to patio. Close to parking, first floor location. Everything is done for you. Roof is less than 2 years old. Professional managed building and association is in great financial standing. Laundry room on each level with newer coin operated machines! Rentals are allowed in building! Schedule your showing today. Seller offer 14 Month warranty with closing within 45 days. The property is worked on and it will be completed in 2 to 3 weeks.

Key facts

• Glass patio doors
• Natural light
• Modern kitchen

Tags

• MODERN KITCHEN
• STAINLESS STEEL APPLIANCES
• GLASS PATIO DOORS
• NATURAL LIGHT
• ASSIGNED PARKING SPACE
• ON-SITE LAUNDRY

Property features AI

Finance

• Other: 24 units in the building; Living area source: Landlord/Tenant/Seller; Parcel number available
• Financial info: Special service area: No
• HOA & community: Monthly association fee of $299; Association fee covers water, insurance, exterior maintenance, lawn care, scavenger, and snow removal; Coin laundry amenity; Pets not allowed

Exterior

• Parking: Assigned parking (1 space)
• Utilities: Water source: Lake Michigan; Public sewer; Electric with circuit breakers
• Home design: Attached single condo; Entry level 1; Fee simple ownership; Unit currently being leased; Rehab completed in 2021; Building age approximately 51–60 years; Interstate access nearby
• Construction: Brick construction; Built before 1978
• Exterior features: Patio

Interior

• Kitchen: Kitchen on the main level (10 x 10); Vinyl flooring in kitchen
• Bedrooms: Master bedroom on the main level (18 x 11); Second bedroom on the main level (14 x 11); Two additional bedroom spaces
• Flooring: Laminate flooring throughout (vinyl in kitchen)
• Bathrooms: 1 full bathroom
• Heating & cooling: Electric heating; Wall unit(s) for cooling
• Interior features: 4 total rooms; Some photos virtually staged
• Laundry & utility: Common area laundry

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $90k.

Deal economics

• At list price, monthly cash flow is $287 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $90k).
• Recommended offer: $79k (12.0% below list) — sets the bar for market timing.
• Cap rate 10.1% vs local median 5.8% in Lansing — 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 73/100 on livability (#296 in IL) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: schools D+, crime D+, health & safety D+.
• Thornton Fractional Twp Hsd 215 (suburban): math 9% / reading 13% proficiency, ranked #563 of 620 in IL (top 91%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 132 active listings in the ZIP; 13 comparable units currently listed for rent nearby; rentals at typical pace (median 18d 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 $622 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $25k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 174 days — a 12% lower offer ($79k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

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

Recommended offer $79,200 (12.0% below list)

Questions for the listing agent

1. It's been on market 174 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. 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?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. Crime grade is D 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: 1.70% ✓
• Cap rate: 10.12%
• Cash-on-cash: 13.66%
• DSCR: 1.61
• GRM: 4.9

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: 4.0%
• Equity multiple: 1.15×
• Total profit: $3,893
• Equity at exit: $13,419

10-year hold

• IRR: 13.7%
• Equity multiple: 2.10×
• Total profit: $27,756
• Equity at exit: $7,782

Cash invested: $25,200 (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 60438

• Active inventory: 132
• Price-to-rent: 4.9×

Monthly cashflow live

• Estimated rent: $1,529 high
• Mortgage (P&I): −$472
• Tax est. 1.5%: −$112 /mo · $1,350/yr
• Insurance: −$38
• HOA: −$299
• Vacancy / Maint / Mgmt: −$321
• Net cashflow: $287

Break-even live

Break-even rent $1,166

Max offer price $90,000

Occupancy floor 76%

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: $22,500
• Closing costs: $2,700
• Reserves months: —
• Total cash needed: —

Rent comps 13 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
17640 Rosewood Dr Unit 2A Lansing, IL	2.0	1.0	950	$1,475	$1.55	17d	1	0.24mi
17754 Rosewood Dr Unit 1N Lansing, IL	2.0	1.0	850	$1,370	$1.61	24d	1	0.29mi
17723 Exchange Ave Unit 17723-1N Lansing, IL	3.0	2.0	1100	$1,800	$1.64	1d	1	0.62mi
18361 Glen Oak Ave Unit 1E Lansing, IL	2.0	1.0	900	$1,400	$1.56	24d	1	0.97mi
18381 Torrence Ave Lansing, IL	2.0	1.0	900	$1,300	$1.44	24d	1	0.98mi
3020 178th St Apt C7 Lansing, IL	2.0	1.0	900	$1,550	$1.72	24d	1	1.01mi
3020 178th St Unit C1 Lansing, IL	2.0	1.0	900	$1,550	$1.72	1d	1	1.01mi
3023 Bernice Rd Apt 2S Lansing, IL	3.0	1.0	1000	$1,600	$1.60	1d	1	1.05mi
18440 Torrence Ave Lansing, IL	2.0	1.0	800	$1,200	$1.50	24d	1	1.07mi
3069 Bernice Rd Apt 2S Lansing, IL	3.0	1.0	950	$1,535	$1.62	2d	1	1.11mi
3069 Bernice Rd Apt 2N Lansing, IL	3.0	1.0	950	$1,535	$1.62	20d	1	1.11mi
18550 Torrence Ave #25 Lansing, IL	2.0	1.0	1000	$1,300	$1.30	11d	1	1.18mi
2824 186th St Lansing, IL	3.0	2.0	1400	$2,900	$2.07	10d	1	1.44mi

HOA detail condo

• Monthly dues: $299 · $3,588/yr
• Likely covers: water
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 5 events

1. 2026-03-26
   price $90,000
2. 2026-01-12
   price $93,000
3. 2021-10-01
   soldstatus $82,000 Closed 941-char remark

   Show marketing remark (941 chars)

   Newly remodeled 2 Bedroom / 1 Bathroom First Floor Condo. Perfect for occupants that do not want stairs. Brand new Grey Shaker Kitchen Cabinets with Pure White Quartz Counter Tops. Brand new Samsung Stainless Steel Appliances. New Engineered Hardwood Floors, Updated Bathrooms, new vanities and fixtures. New Paint, Blinds, Trim, Doors & More! Brand New AC UNIT. Freshly painted, Brand new carpeting throughout. Updated bath. Brand new air unit and water heater. Sliding doors that lead to patio. Close to parking, first floor location. Everything is done for you. Roof is less than 2 years old. Professional managed building and association is in great financial standing. Laundry room on each level with newer coin operated machines! Rentals are allowed in building! Schedule your showing today. Seller offer 14 Month warranty with closing within 45 days. The property is worked on and it will be completed in 2 to 3 weeks.

4. 2021-08-24
   status Pending 941-char remark

   Show marketing remark (941 chars)

   Newly remodeled 2 Bedroom / 1 Bathroom First Floor Condo. Perfect for occupants that do not want stairs. Brand new Grey Shaker Kitchen Cabinets with Pure White Quartz Counter Tops. Brand new Samsung Stainless Steel Appliances. New Engineered Hardwood Floors, Updated Bathrooms, new vanities and fixtures. New Paint, Blinds, Trim, Doors & More! Brand New AC UNIT. Freshly painted, Brand new carpeting throughout. Updated bath. Brand new air unit and water heater. Sliding doors that lead to patio. Close to parking, first floor location. Everything is done for you. Roof is less than 2 years old. Professional managed building and association is in great financial standing. Laundry room on each level with newer coin operated machines! Rentals are allowed in building! Schedule your showing today. Seller offer 14 Month warranty with closing within 45 days. The property is worked on and it will be completed in 2 to 3 weeks.

5. 2021-07-26
   listed $89,995 Active 941-char remark

   Show marketing remark (941 chars)

   Newly remodeled 2 Bedroom / 1 Bathroom First Floor Condo. Perfect for occupants that do not want stairs. Brand new Grey Shaker Kitchen Cabinets with Pure White Quartz Counter Tops. Brand new Samsung Stainless Steel Appliances. New Engineered Hardwood Floors, Updated Bathrooms, new vanities and fixtures. New Paint, Blinds, Trim, Doors & More! Brand New AC UNIT. Freshly painted, Brand new carpeting throughout. Updated bath. Brand new air unit and water heater. Sliding doors that lead to patio. Close to parking, first floor location. Everything is done for you. Roof is less than 2 years old. Professional managed building and association is in great financial standing. Laundry room on each level with newer coin operated machines! Rentals are allowed in building! Schedule your showing today. Seller offer 14 Month warranty with closing within 45 days. The property is worked on and it will be completed in 2 to 3 weeks.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 74% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥103°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: $18,347
• − Mortgage interest: −$5,041
• − Property taxes: −$1,350
• − Insurance: −$450
• − Repairs & maintenance: −$1,468
• − Management: −$1,468
• − HOA: −$3,588
• − Depreciation: −$2,618
• Taxable income: $2,364
• Est. tax owed @ 24.0%: −$567
• After-tax cash flow: $2,875/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 Fractional Twp Hsd 215
• NCES district ID: 1738940
• Math proficiency: 9% ▼ -3.00%
• Reading proficiency: 13% ▼ -3.00%
• Median HH income: $48,207
• Composite: 10.27/100
• National rank: #9793
• State rank: #563 of 620 in IL

Livability — Lansing

• Score: 73/100
• State rank: #296
• US rank: #5698

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lansing, IL
• County: Cook County · 4,486,803 people
• City population: 28,806
• Metro: Chicago-Naperville-Elgin, IL-IN-WI
• Population (ZIP): 28,806
• Household income: $75,681
• Rent vs Own: 27.7% rent · 72.3% own
• Severe rent burden: 830.0

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 0.65)
• Race & ethnicity: Black 51% White 25% Hispanic / Latino 18% Two or more races 7% Asian 2%
• Hispanic origin (detail): Mexican 15%
• Common ancestry: Romanian 5% Iranian 3% Lithuanian 1%
• Foreign-born: 10% · Canada
• Languages at home: 83% English-only · Spanish 12% Vietnamese 1% French/Haitian/Cajun 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: ▼ -151.65%
• Current HPI: 210.3398
• 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

+0.0% since first listed

5 events — show timeline

• 2026-03-26 Price Changed $90,000 MRED as Distributed by MLS Grid
• 2026-01-12 Price Changed $93,000 MRED as Distributed by MLS Grid
• 2021-10-01 Sold (MLS) $82,000 MRED as Distributed by MLS Grid
• 2021-08-24 Pending — MRED as Distributed by MLS Grid
• 2021-07-26 Listed $89,995 MRED as Distributed by MLS Grid