14652 Spaulding Ave · Harvey, IL 60426

$150,000

4 bd · 2.0 ba · 2,150 sqft · MultiFamily public records · 188 Days on market

Built 1965 4,375 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
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +0.7/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

Updated well maintained 2 Flat. Building is already making money! 2 units both recently Updated/Remodeled. New Floors, newer Windows, Doors and heating. Solid Brick building with a detached 2 Car Garage. Owner successfully appealed taxes in 2018!

Key facts

• Close to parks
• Close to schools
• Off street parking

Tags

• PRIVATE BACKYARD
• STORAGE SHED
• OFF STREET PARKING
• CLOSE TO PARKS
• CLOSE TO SCHOOLS
• CLOSE TO SHOPPING

Property features AI

Finance

• Other: Property holds earnest money; Possession at closing
• Financial info: Special service area: No

Exterior

• Parking: Detached garage; 2 garage spaces (2 parking spaces total)
• Utilities: Water source: Lake Michigan; Public sewer
• Home design: Two-to-four unit property; Fee simple ownership; Built approx. 61–70 years ago; Property built before 1978; Brick construction
• Construction: Brick exterior
• Exterior features: Lot dimensions roughly 35 x 125; Lot around 0.25–0.49 acre; Located in Harvey (Bremen Township)

Interior

• Kitchen: Stove; Refrigerator
• Bedrooms: Five bedrooms total (Unit 1: 2 bedrooms on 1st floor; Unit 2: 3 bedrooms on 2nd floor)
• Bathrooms: Two full bathrooms total (each unit has 1 full bath)
• Heating & cooling: Steam heating; Baseboard heating
• Interior features: 8 total rooms; Two-unit building (2 units total)
• Laundry & utility: Washer and dryer included in Unit 1; Tenants pay electric and water

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath multifamily listed at $150k.

Deal economics

• At list price, monthly cash flow is $1k ($15k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $150k).
• Recommended offer: $132k (12.0% below list) — sets the bar for market timing.
• Cap rate 18.0% vs local median 9.3% in Harvey — 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 (#539 in IL) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A-; Watch: health & safety D+, crime F, amenities F.
• Thornton Twp Hsd 205 (suburban): math 7% / reading 8% proficiency, ranked #594 of 620 in IL (top 96%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Martin L King Elem School (303 students, 0% FRL); Rosa L Parks Middle School (319 students, 0% FRL); Thornton Township High School (math 7% / reading 7%, grade F, #605 of 693 statewide, top 87%, 1,628 students, 0% FRL).
• Market conditions: 133 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 6,272 units permitted in Cook County in 2024 (4,658 in 5+ unit buildings).

Forward outlook

• In year one you build about $16k of equity ($1k loan paydown + $15k appreciation (10.0% local appreciation)).
• At projected returns (10.0% appreciation + 3.0% rent growth), your $42k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$41k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 188 days — a 12% lower offer ($132k) is reasonable based on typical stale-listing flexibility.
• 12 sale attempts since 9y ago; this cycle's ask has dropped $25k (14%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $83k; list at $150k implies a 81% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $192/mo.
• Climate carrying-cost: in FEMA flood zone AH (mandatory federal flood insurance) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $132,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 188 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 1965 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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 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: 2.11% ✓
• Cap rate: 18.00%
• Cash-on-cash: 41.82%
• DSCR: 2.86
• GRM: 3.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 52.2%
• Equity multiple: 4.88×
• Total profit: $162,831
• Equity at exit: $135,132

10-year hold

• IRR: 45.9%
• Equity multiple: 10.91×
• Total profit: $416,165
• Equity at exit: $291,417

Cash invested: $42,000 (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 60426

• Home prices YoY: 6.9%
• Active inventory: 133
• Price-to-rent: 7.9×

Monthly cashflow live

• Estimated rent: $3,165 medium
• Mortgage (P&I): −$787
• Tax est. 1.5%: −$188 /mo · $2,250/yr
• Insurance: −$62
• Flood insurance flood zone: −$192 /mo · $2,309/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$665
• Net cashflow: $1,271

Break-even live

Break-even rent $1,556

Max offer price $150,000

Occupancy floor 55%

Sensitivity live

Price	-10% $1,375	-5% $1,323	+0% $1,271	+5% $1,219	+10% $1,168
Rent	-10% $1,021	-5% $1,146	+0% $1,271	+5% $1,396	+10% $1,521
Rate	-1.0pp $1,347	-0.5pp $1,309	base $1,271	+0.5pp $1,232	+1.0pp $1,193

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

Units	Beds	Baths	Est. rent
1× unit	2	1	$1,582
1× unit	3	1	$1,582
Total (2 units)			$3,165

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: $37,500
• Closing costs: $4,500
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
14336 S Harrison Ave Posen, IL	4.0	3.0	1707	$2,600	$1.52	3d	1	1.48mi

Listing history 50 events

1. 2026-06-21
   days on market $150,000 Active 188 DOM
2. 2026-06-18
   days on market $150,000 Active 185 DOM
3. 2026-06-17
   days on market $150,000 Active 184 DOM
4. 2026-06-16
   days on market $150,000 Active 183 DOM
5. 2026-06-15
   days on market $150,000 Active 182 DOM
6. 2026-06-13
   days on market $150,000 Active 180 DOM
7. 2026-06-13
   days on market $150,000 Active 179 DOM
8. 2026-06-09
   days on market $150,000 Active 176 DOM
9. 2026-06-08
   days on market $150,000 Active 175 DOM
10. 2026-06-07
    days on market $150,000 Active 174 DOM
11. 2026-06-04
    days on market $150,000 Active 171 DOM
12. 2026-06-03
    days on market $150,000 Active 170 DOM
13. 2026-06-02
    days on market $150,000 Active 169 DOM
14. 2026-06-01
    days on market $150,000 Active 168 DOM
15. 2026-05-31
    days on market $150,000 Active 167 DOM
16. 2026-04-08
    price $150,000
17. 2026-03-02
    price $155,000
18. 2026-02-10
    price $160,000
19. 2026-01-12
    price $165,000
20. 2025-12-29
    price $170,000
21. 2025-12-15
    listed $175,000 Active
22. 2020-10-29
    soldstatus $83,000
23. 2020-09-22
    soldstatus $83,000 Closed Sale 246-char remark

    Show marketing remark (246 chars)

    Updated well maintained 2 Flat. Building is already making money! 2 units both recently Updated/Remodeled. New Floors, newer Windows, Doors and heating. Solid Brick building with a detached 2 Car Garage. Owner successfully appealed taxes in 2018!

24. 2020-09-08
    status Contingent 246-char remark

    Show marketing remark (246 chars)

    Updated well maintained 2 Flat. Building is already making money! 2 units both recently Updated/Remodeled. New Floors, newer Windows, Doors and heating. Solid Brick building with a detached 2 Car Garage. Owner successfully appealed taxes in 2018!

25. 2020-09-08
    status Reactivated 246-char remark

    Show marketing remark (246 chars)

    Updated well maintained 2 Flat. Building is already making money! 2 units both recently Updated/Remodeled. New Floors, newer Windows, Doors and heating. Solid Brick building with a detached 2 Car Garage. Owner successfully appealed taxes in 2018!

26. 2020-08-11
    status Contingent 246-char remark

    Show marketing remark (246 chars)

    Updated well maintained 2 Flat. Building is already making money! 2 units both recently Updated/Remodeled. New Floors, newer Windows, Doors and heating. Solid Brick building with a detached 2 Car Garage. Owner successfully appealed taxes in 2018!

27. 2020-08-07
    historical 246-char remark

    Show marketing remark (246 chars)

    Updated well maintained 2 Flat. Building is already making money! 2 units both recently Updated/Remodeled. New Floors, newer Windows, Doors and heating. Solid Brick building with a detached 2 Car Garage. Owner successfully appealed taxes in 2018!

28. 2020-06-27
    price $85,000 246-char remark

    Show marketing remark (246 chars)

    Updated well maintained 2 Flat. Building is already making money! 2 units both recently Updated/Remodeled. New Floors, newer Windows, Doors and heating. Solid Brick building with a detached 2 Car Garage. Owner successfully appealed taxes in 2018!

29. 2020-06-05
    listed $87,000 New 246-char remark

    Show marketing remark (246 chars)

    Updated well maintained 2 Flat. Building is already making money! 2 units both recently Updated/Remodeled. New Floors, newer Windows, Doors and heating. Solid Brick building with a detached 2 Car Garage. Owner successfully appealed taxes in 2018!

30. 2020-04-02
    historical
31. 2020-03-13
    listed New
32. 2019-11-29
    historical
33. 2019-11-05
    status Reactivated
34. 2019-10-16
    historical Contingent (Do Not Show)
35. 2019-10-03
    listed New
36. 2019-09-13
    historical
37. 2019-07-31
    price
38. 2019-06-29
    status Reactivated
39. 2019-06-29
    historical
40. 2019-06-28
    listed Reactivated
41. 2017-09-20
    soldstatus $27,600 Closed Sale
42. 2017-07-18
    status Pending
43. 2017-06-27
    price $29,900
44. 2017-06-26
    status Price Change
45. 2017-06-05
    status Pending
46. 2017-05-26
    price $34,900
47. 2017-05-16
    status Reactivated
48. 2017-03-31
    status Pending
49. 2017-03-28
    status Reactivated
50. 2017-03-22
    status Pending

ⓘ 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 4/10 Moderate FEMA zone AH · 22% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥102°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: $37,980
• − Mortgage interest: −$8,402
• − Property taxes: −$2,250
• − Insurance: −$3,059
• − Repairs & maintenance: −$3,038
• − Management: −$3,038
• − Depreciation: −$4,364
• Taxable income: $13,828
• Est. tax owed @ 24.0%: −$3,319
• After-tax cash flow: $11,937/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 Twp Hsd 205
• NCES district ID: 1738970
• Math proficiency: 7% ▬ 0.00%
• Reading proficiency: 8% ▼ -2.00%
• Median HH income: $43,392
• Composite: 6.92/100
• National rank: #9976
• State rank: #594 of 620 in IL

Livability — Harvey

• Score: 67/100
• State rank: #539
• US rank: #11162

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Harvey, IL
• City population: 23,066
• Population (ZIP): 23,066

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: Majority Black (59%)
• Race & ethnicity: Black 59% Hispanic / Latino 33% Two or more races 12% White 3% Asian 2%
• Hispanic origin (detail): Mexican 31%
• Foreign-born: 17% · Canada
• Languages at home: 67% English-only · Spanish 30% Other Indo-European 2% 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: ▲ 20.36%
• Current HPI: 313.7895
• 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

+284.6% since first listed

36 events — show timeline

• 2026-04-08 Price Changed $150,000 MRED as Distributed by MLS Grid
• 2026-03-02 Price Changed $155,000 MRED as Distributed by MLS Grid
• 2026-02-10 Price Changed $160,000 MRED as Distributed by MLS Grid
• 2026-01-12 Price Changed $165,000 MRED as Distributed by MLS Grid
• 2025-12-29 Price Changed $170,000 MRED as Distributed by MLS Grid
• 2025-12-15 Listed $175,000 MRED as Distributed by MLS Grid
• 2020-10-29 Sold (Public Records) $83,000 Public Records
• 2020-09-22 Sold (MLS) $83,000 MRED as Distributed by MLS Grid
• 2020-09-08 Pending — MRED as Distributed by MLS Grid
• 2020-09-08 Relisted — MRED as Distributed by MLS Grid
• 2020-08-11 Pending — MRED as Distributed by MLS Grid
• 2020-08-07 Listing Removed — MRED as Distributed by MLS Grid
• 2020-06-27 Price Changed $85,000 MRED as Distributed by MLS Grid
• 2020-06-05 Listed $87,000 MRED as Distributed by MLS Grid
• 2020-04-02 Listing Removed — MRED as Distributed by MLS Grid
• 2020-03-13 Listed — MRED as Distributed by MLS Grid
• 2019-11-29 Listing Removed — MRED as Distributed by MLS Grid
• 2019-11-05 Relisted — MRED as Distributed by MLS Grid
• 2019-10-16 Contingent — MRED as Distributed by MLS Grid
• 2019-10-03 Listed — MRED as Distributed by MLS Grid
• 2019-09-13 Listing Removed — MRED as Distributed by MLS Grid
• 2019-07-31 Price Changed — MRED as Distributed by MLS Grid
• 2019-06-29 Relisted — MRED as Distributed by MLS Grid
• 2019-06-29 Listing Removed — MRED as Distributed by MLS Grid
• 2019-06-28 Listed — MRED as Distributed by MLS Grid
• 2017-09-20 Sold (MLS) $27,600 MRED as Distributed by MLS Grid
• 2017-07-18 Pending — MRED as Distributed by MLS Grid
• 2017-06-27 Price Changed $29,900 MRED as Distributed by MLS Grid
• 2017-06-26 Relisted — MRED as Distributed by MLS Grid
• 2017-06-05 Pending — MRED as Distributed by MLS Grid
• 2017-05-26 Price Changed $34,900 MRED as Distributed by MLS Grid
• 2017-05-16 Relisted — MRED as Distributed by MLS Grid
• 2017-03-31 Pending — MRED as Distributed by MLS Grid
• 2017-03-28 Relisted — MRED as Distributed by MLS Grid
• 2017-03-22 Pending — MRED as Distributed by MLS Grid
• 2017-02-25 Listed $39,000 MRED as Distributed by MLS Grid

Property tax history

+6.0%/yr

Latest (2023): $10,641 · +6.6% YoY. Source: county tax records.