5631 Colgate Ln · Matteson, IL 60443

$195,000

3 bd · 1.0 ba · 1,411 sqft · SingleFamily public records · 280 Days on market

Built 1963 9,147 sqft lot Est $255k · 24% under

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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 +26.5/30.0
• ARV discount +15.0/15.0
• 1% rule +9.6/10.0
• DSCR +9.0/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +0.9/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

SPACIOUS 3 BEDROOM . 1.5 BATHROOM TRI-LEVEL HOME WITH MAIN LEVEL FAMILY ROOM, FIREPLACE, LOWER LEVEL REC ROOM AND 2 CAR GARAGE. LOCATED VERY CLOSE TO HIGHWAY ACCESS (I-57), VERY CLOSE TO ALL FORMS OF SHOPPING (LINCOLN MALL) AND CLOSE TO PUBLIC TRANSPORTATION. THIS PROPERTY IS AN EXCELLENT INVESTMENT.

Key facts

• Ceramic tile
• Granite countertops
• Updated fixtures

Tags

• HVACS ANNUALLY SERVICED
• CERAMIC TILE
• GRANITE COUNTERTOPS
• UPDATED FIXTURES
• JACUZZI TUB
• HARDWOOD FLOORS

Property features AI

Finance

• Other: Commuter train and interstate access nearby; School bus service available
• HOA & community: No master association fees required

Exterior

• Parking: Attached garage with space for 2 cars; 2 total parking spaces
• Utilities: Public water; Public sewer
• Home design: Detached single-family home; One-story; Fee simple ownership; Rehab completed in 2019; Built before 1978
• Construction: Brick and other exterior materials; Asphalt roof; Concrete perimeter foundation; Estimated age: 61–70 years
• Exterior features: Patio; Lot approximately 70 x 130 (less than 0.25 acre)

Interior

• Kitchen: Kitchen on the main level (7 x 14)
• Bedrooms: 3 bedrooms (all on the main level); Master bedroom on the main level
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Natural gas heating; Central air conditioning
• Interior features: Finished full basement; 7 total rooms
• Laundry & utility: Laundry room in basement (7 x 4)

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $195k.

Deal economics

• At list price, monthly cash flow is $516 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $195k).
• Recommended offer: $172k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.5% vs local median 6.2% in Matteson — 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 67/100 on livability (#525 in IL) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, cost of living A; Watch: schools D+, amenities F, commute F.
• Rich Twp Hsd 227 (suburban): math 5% / reading 12% proficiency, ranked #577 of 620 in IL (top 93%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 69 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals leasing fast (median 7d on market — plan ~1-2 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 $6k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $55k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 280 days — a 12% lower offer ($172k) is reasonable based on typical stale-listing flexibility.
• 9 sale attempts since 9y ago; this cycle's ask has dropped $75k (28%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $72k; list at $195k implies a 171% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 3.8% of price.

Recommended offer $171,600 (12.0% below list)

Questions for the listing agent

1. It's been on market 280 days. Have you received any prior offers? Is the seller open to a 12% 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. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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. 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: 1.46% ✓
• Cap rate: 9.47%
• Cash-on-cash: 11.34%
• DSCR: 1.50
• GRM: 5.7

CMA / ARV

• ARV (on-the-fly): $255,391
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
856 Notre Dame Dr	0.28mi	3/2.0	1,445 (+2%)	4mo	$255,700	$177	76
829 Princeton Ave	0.07mi	3/1.5	1,225 (-13%)	1mo	$175,000	$143	72
903 Notre Dame Dr	0.31mi	3/1.5	1,300 (-8%)	0mo	$250,000	$192	70
907 Dartmouth Ave	0.16mi	3/1.5	1,225 (-13%)	7mo	$202,000	$165	63
733 Old Meadow Rd	0.49mi	3/1.5	1,294 (-8%)	8mo	$287,000	$222	55
6103 Sunflower Dr	0.62mi	3/1.5	1,292 (-8%)	4mo	$233,000	$180	52
5629 Crestwood Rd	0.73mi	4/1.5 (+1)	1,465 (+4%)	6mo	$232,000	$158	47
749 Old Meadow Rd	0.48mi	4/3.0 (+1)	1,290 (-9%)	10mo	$264,000	$205	42
5808 Allemong Dr	0.68mi	3/2.0	1,212 (-14%)	3mo	$219,900	$181	38
5712 Crestwood Rd	0.73mi	3/1.5	1,238 (-12%)	9mo	$180,000	$145	36
6062 Elm Ln	0.64mi	3/2.0	1,215 (-14%)	9mo	$260,000	$214	35
6125 Sunflower Dr	0.66mi	4/2.5 (+1)	1,610 (+14%)	2mo	$315,000	$196	33

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: 0.7%
• Equity multiple: 1.03×
• Total profit: $1,535
• Equity at exit: $29,075

10-year hold

• IRR: 10.5%
• Equity multiple: 1.82×
• Total profit: $44,766
• Equity at exit: $16,860

Cash invested: $54,600 (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 60443

• Home prices YoY: -32.6%
• Active inventory: 69
• Price-to-rent: 5.7×

Monthly cashflow live

• Estimated rent: $2,837 high
• Mortgage (P&I): −$1,023
• Tax from tax record: −$622 /mo · $7,461/yr
• Insurance: −$81
• HOA: −$0
• Vacancy / Maint / Mgmt: −$596
• Net cashflow: $516

Break-even live

Break-even rent $2,184

Max offer price $195,000

Occupancy floor 77%

Sensitivity live

Price	-10% $626	-5% $571	+0% $516	+5% $461	+10% $406
Rent	-10% $292	-5% $404	+0% $516	+5% $628	+10% $740
Rate	-1.0pp $614	-0.5pp $566	base $516	+0.5pp $465	+1.0pp $414

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: $48,750
• Closing costs: $5,850
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
946 Harvard Ln Matteson, IL	4.0	1.5	1247	$2,990	$2.40	24d	1	0.28mi
6048 White Birch Ln Matteson, IL	3.0	2.5	1638	$2,741	$1.67	7d	1	0.57mi
6024 Aspen Ln Matteson, IL	3.0	2.0	1294	$2,800	$2.16	0d	1	0.63mi
5817 Allemong Dr Matteson, IL	3.0	1.5	1350	$2,500	$1.85	8d	1	0.65mi
4962 Bennett St Matteson, IL	2.0–3.0	1.5–2.5	1341	$3,120	$2.33	0d	7	1.28mi

Listing history 38 events

1. 2026-06-18
   days on market $195,000 Active 280 DOM
2. 2026-06-17
   days on market $195,000 Active 279 DOM
3. 2026-06-16
   days on market $195,000 Active 278 DOM
4. 2026-06-15
   days on market $195,000 Active 277 DOM
5. 2026-06-13
   days on market $195,000 Active 275 DOM
6. 2026-06-09
   days on market $195,000 Active 271 DOM
7. 2026-06-08
   days on market $195,000 Active 270 DOM
8. 2026-06-07
   days on market $195,000 Active 269 DOM
9. 2026-06-04
   days on market $195,000 Active 266 DOM
10. 2026-06-03
    days on market $195,000 Active 265 DOM
11. 2026-06-02
    days on market $195,000 Active 264 DOM
12. 2026-06-01
    days on market $195,000 Active 263 DOM
13. 2026-05-31
    days on market $195,000 Active 262 DOM
14. 2026-01-23
    price $195,000
15. 2025-09-11
    listed $270,000 Active
16. 2025-07-17
    historical Contingent - No Showings
17. 2025-07-17
    status Active
18. 2025-07-10
    status Active
19. 2025-07-10
    historical
20. 2024-03-14
    historical
21. 2024-03-13
    status Pending
22. 2024-02-24
    price
23. 2024-01-22
    price
24. 2024-01-20
    status Active
25. 2024-01-16
    status Pending
26. 2023-10-31
    status Temporarily No Showings
27. 2023-10-31
    historical
28. 2023-10-30
    status Temporarily No Showings
29. 2023-10-29
    historical
30. 2023-10-29
    status Temporarily No Showings
31. 2023-10-22
    historical
32. 2023-10-20
    listed Temporarily No Showings
33. 2017-11-17
    soldstatus $72,000 Closed Sale 301-char remark

    Show marketing remark (301 chars)

    SPACIOUS 3 BEDROOM . 1.5 BATHROOM TRI-LEVEL HOME WITH MAIN LEVEL FAMILY ROOM, FIREPLACE, LOWER LEVEL REC ROOM AND 2 CAR GARAGE. LOCATED VERY CLOSE TO HIGHWAY ACCESS (I-57), VERY CLOSE TO ALL FORMS OF SHOPPING (LINCOLN MALL) AND CLOSE TO PUBLIC TRANSPORTATION. THIS PROPERTY IS AN EXCELLENT INVESTMENT.

34. 2017-09-22
    historical Contingent 301-char remark

    Show marketing remark (301 chars)

    SPACIOUS 3 BEDROOM . 1.5 BATHROOM TRI-LEVEL HOME WITH MAIN LEVEL FAMILY ROOM, FIREPLACE, LOWER LEVEL REC ROOM AND 2 CAR GARAGE. LOCATED VERY CLOSE TO HIGHWAY ACCESS (I-57), VERY CLOSE TO ALL FORMS OF SHOPPING (LINCOLN MALL) AND CLOSE TO PUBLIC TRANSPORTATION. THIS PROPERTY IS AN EXCELLENT INVESTMENT.

35. 2017-08-18
    price $72,000 301-char remark

    Show marketing remark (301 chars)

    SPACIOUS 3 BEDROOM . 1.5 BATHROOM TRI-LEVEL HOME WITH MAIN LEVEL FAMILY ROOM, FIREPLACE, LOWER LEVEL REC ROOM AND 2 CAR GARAGE. LOCATED VERY CLOSE TO HIGHWAY ACCESS (I-57), VERY CLOSE TO ALL FORMS OF SHOPPING (LINCOLN MALL) AND CLOSE TO PUBLIC TRANSPORTATION. THIS PROPERTY IS AN EXCELLENT INVESTMENT.

36. 2017-06-06
    listed $87,000 New 301-char remark

    Show marketing remark (301 chars)

    SPACIOUS 3 BEDROOM . 1.5 BATHROOM TRI-LEVEL HOME WITH MAIN LEVEL FAMILY ROOM, FIREPLACE, LOWER LEVEL REC ROOM AND 2 CAR GARAGE. LOCATED VERY CLOSE TO HIGHWAY ACCESS (I-57), VERY CLOSE TO ALL FORMS OF SHOPPING (LINCOLN MALL) AND CLOSE TO PUBLIC TRANSPORTATION. THIS PROPERTY IS AN EXCELLENT INVESTMENT.

37. 1997-07-07
    soldstatus $103,000
38. 1992-06-26
    soldstatus $85,000

ⓘ 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: $7,461 · $622/mo
• Projected year-2 tax: $7,461 · $622/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 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 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $34,049
• − Mortgage interest: −$10,923
• − Property taxes: −$7,461
• − Insurance: −$975
• − Repairs & maintenance: −$2,724
• − Management: −$2,724
• − Depreciation: −$5,673
• Taxable income: $3,569
• Est. tax owed @ 24.0%: −$857
• After-tax cash flow: $5,334/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: Rich Twp Hsd 227
• NCES district ID: 1733420
• Math proficiency: 5% ▼ -3.00%
• Reading proficiency: 12% ▬ 0.00%
• Median HH income: $56,056
• Composite: 8.93/100
• National rank: #9885
• State rank: #577 of 620 in IL

Livability — Matteson

• Score: 67/100
• State rank: #525
• US rank: #10883

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Matteson, IL
• City population: 20,606
• Population (ZIP): 20,606

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 Black (72%)
• Race & ethnicity: Black 72% White 18% Two or more races 6% Hispanic / Latino 5% Asian 1%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Romanian 2%
• Foreign-born: 4% · Canada
• Languages at home: 94% English-only · Spanish 4%

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: ▼ -89.68%
• Current HPI: 185.4404
• 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

+129.4% since first listed

25 events — show timeline

• 2026-01-23 Price Changed $195,000 MRED as Distributed by MLS Grid
• 2025-09-11 Listed $270,000 MRED as Distributed by MLS Grid
• 2025-07-17 Contingent — MRED as Distributed by MLS Grid
• 2025-07-17 Relisted — MRED as Distributed by MLS Grid
• 2025-07-10 Relisted — MRED as Distributed by MLS Grid
• 2025-07-10 Listing Removed — MRED as Distributed by MLS Grid
• 2024-03-14 Listing Removed — MRED as Distributed by MLS Grid
• 2024-03-13 Pending — MRED as Distributed by MLS Grid
• 2024-02-24 Price Changed — MRED as Distributed by MLS Grid
• 2024-01-22 Price Changed — MRED as Distributed by MLS Grid
• 2024-01-20 Relisted — MRED as Distributed by MLS Grid
• 2024-01-16 Pending — MRED as Distributed by MLS Grid
• 2023-10-31 Relisted — MRED as Distributed by MLS Grid
• 2023-10-31 Listing Removed — MRED as Distributed by MLS Grid
• 2023-10-30 Relisted — MRED as Distributed by MLS Grid
• 2023-10-29 Listing Removed — MRED as Distributed by MLS Grid
• 2023-10-29 Relisted — MRED as Distributed by MLS Grid
• 2023-10-22 Listing Removed — MRED as Distributed by MLS Grid
• 2023-10-20 Listed — MRED as Distributed by MLS Grid
• 2017-11-17 Sold (MLS) $72,000 MRED as Distributed by MLS Grid
• 2017-09-22 Contingent — MRED as Distributed by MLS Grid
• 2017-08-18 Price Changed $72,000 MRED as Distributed by MLS Grid
• 2017-06-06 Listed $87,000 MRED as Distributed by MLS Grid
• 1997-07-07 Sold (Public Records) $103,000 Public Records
• 1992-06-26 Sold (Public Records) $85,000 Public Records

Property tax history

+7.1%/yr

Latest (2023): $7,461 · +11.0% YoY. Source: county tax records.