109 Rice Ave · Bellwood, IL 60104

$299,900

3 bd · 2.0 ba · 989 sqft · SingleFamily public records · 12 Days on market

Built 1955 6,250 sqft lot Est $247k · 21% over

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Why this score? — see what drove the F 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).

• Livability +3.9/5.0
• Cash flow +3.0/30.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.4/10.0
• 1% rule +0.8/10.0
• DSCR +0.0/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Key facts

• 6,250 sq ft lot
• 2 garage spots
• Built 1955

Property features AI

Finance

• HOA & community: No master association fee required

Exterior

• Parking: Detached owned garage; Two garage spaces (two total parking spaces)
• Utilities: Lake Michigan and public water supply; Public sewer; 100 amp electric service with circuit breakers
• Home design: Detached single-family home; One-story design; Fee simple ownership
• Construction: Brick construction; Built 71–80 years ago; Property built before 1978
• Exterior features: Flood zone; Lot dimensions approximately 50 x 125; Lot under 0.25 acre

Interior

• Kitchen: Main-level kitchen (17 x 8)
• Bedrooms: Two bedrooms on main level (including a master bedroom); One additional bedroom in the basement; Option for a third bedroom
• Bathrooms: Two full bathrooms; Bathroom located in the basement
• Heating & cooling: Natural gas heating; Central air conditioning
• Interior features: Finished full basement; Eight total rooms
• Laundry & utility: Basement laundry room (21 x 7)

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $300k.

Deal economics

• At list price, monthly cash flow is $-1k ($-17k/yr) — negative.
• To cash-flow at today's rent, offer at most $131k (56.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $173k (42.4% below list).
• Recommended offer: $131k (56.3% below list) — sets the bar for cash-flow.
• Cap rate 2.4% vs local median 5.3% in Bellwood — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

Location & tenants

• Location reads 77/100 on livability (#155 in IL, #2,847 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: health & safety D+, schools F, amenities F.
• Proviso Twp Hsd 209 (suburban): math 12% / reading 17% proficiency, ranked #507 of 620 in IL (top 82%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 43 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals at typical pace (median 22d 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 $2k of loan paydown is wiped out by about $9k of value loss. Plan a longer hold.

Negotiation context

• Only 12 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $28k; list at $300k implies a 952% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 2.6% of price; flood insurance adds $460/mo; built in 1955 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $130,975 (56.3% 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 1955 — 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. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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. 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 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: 0.58% ✗
• Cap rate: 2.40%
• Cash-on-cash: -13.90%
• DSCR: 0.38
• GRM: 14.5

CMA / ARV

• ARV (on-the-fly): $247,250
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
119 Rice Ave	0.02mi	3/1.0	989 (0%)	1mo	$225,000	$228	94
203 Rice Ave	0.12mi	3/1.0	989 (0%)	2mo	$155,000	$157	89
99 Bellwood Ave	0.19mi	3/1.5	1,012 (+2%)	1mo	$175,000	$173	84
236 Bohland Ave	0.25mi	3/1.0	1,025 (+4%)	2mo	$220,000	$215	77
225 Marshall Ave	0.30mi	3/1.0	1,025 (+4%)	2mo	$280,000	$273	74
253 Park Ct	0.43mi	3/2.0	960 (-3%)	3mo	$319,900	$333	72
317 Frederick Ave	0.47mi	3/1.0	961 (-3%)	2mo	$213,000	$222	67
1404 N 36th Ave	0.62mi	4/2.0 (+1)	1,012 (+2%)	0mo	$350,000	$346	62
609 Linden Ave	0.64mi	3/1.0	1,008 (+2%)	2mo	$241,000	$239	61
1528 N 39th Ave	0.66mi	3/1.0	924 (-7%)	0mo	$320,000	$346	54
1502 N 35th Ave	0.67mi	2/1.0 (-1)	1,031 (+4%)	1mo	$280,000	$272	52
307 Geneva Ave	0.74mi	2/1.0 (-1)	1,000 (+1%)	3mo	$250,000	$250	52

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: -58.6%
• Equity multiple: -0.66×
• Total profit: $-139,417
• Equity at exit: $44,716

10-year hold

• IRR: —
• Equity multiple: -1.82×
• Total profit: $-237,037
• Equity at exit: $25,930

Cash invested: $83,972 (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 60104

• Active inventory: 43
• Price-to-rent: 14.5×

Monthly cashflow live

• Estimated rent: $1,729 high
• Mortgage (P&I): −$1,573
• Tax from tax record: −$641 /mo · $7,690/yr
• Insurance: −$125
• Flood insurance flood zone: −$460 /mo · $5,525/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$363
• Net cashflow: $-1,433

Break-even live

Break-even rent $3,543

Max offer price $130,975

Occupancy floor —

Sensitivity live

Price	-10% $-1,264	-5% $-1,349	+0% $-1,433	+5% $-1,518	+10% $-1,603
Rent	-10% $-1,570	-5% $-1,502	+0% $-1,433	+5% $-1,365	+10% $-1,297
Rate	-1.0pp $-1,282	-0.5pp $-1,357	base $-1,433	+0.5pp $-1,511	+1.0pp $-1,590

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: $74,975
• Closing costs: $8,997
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3108 Saint Charles Rd Unit 2B Bellwood, IL	2.0	1.0	750	$1,550	$2.07	25d	1	0.34mi
12 23rd Ave Melrose Park, IL	2.0	1.0	850	$1,775	$2.09	13d	1	0.70mi
12 23rd Ave Melrose Park, IL	2.0	1.0	850	$1,775	$2.09	22d	1	0.70mi
312 23rd Ave Unit 2 Bellwood, IL	2.0	1.0	850	$1,775	$2.09	22d	1	0.74mi
323 22nd Ave Unit G Bellwood, IL	2.0	1.0	750	$1,750	$2.33	25d	1	0.83mi
1013 Bellwood Ave Unit 2W Bellwood, IL	2.0	1.0	925	$1,850	$2.00	21d	1	1.20mi
1104 Rice Ave Bellwood, IL	2.0	1.0	995	$1,725	$1.73	23d	1	1.29mi
1419 N 16th Ave Melrose Park, IL	2.0	1.0	1000	$1,650	$1.65	0d	1	1.31mi
218 S 13th Ave Unit 2 Maywood, IL	2.0	1.0	1050	$1,650	$1.57	6d	1	1.38mi
631 Balmoral Ave Westchester, IL	2.0	1.0	903	$2,100	$2.33	25d	1	1.49mi

Listing history 9 events

1. 2026-06-21
   statusdays on market $299,900 Pending 12 DOM
2. 2026-06-18
   days on market $299,900 Active 11 DOM
3. 2026-06-17
   days on market $299,900 Active 10 DOM
4. 2026-06-16
   days on market $299,900 Active 9 DOM
5. 2026-06-15
   days on market $299,900 Active 8 DOM
6. 2026-06-13
   days on market $299,900 Active 6 DOM
7. 2026-06-13
   days on market $299,900 Active 5 DOM
8. 2026-06-09
   days on market $299,900 Active 2 DOM
9. 2026-06-08
   listed $299,900 Active 1 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: $7,690 · $641/mo
• Projected year-2 tax: $7,690 · $641/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 1/10 Low FEMA zone AE · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥101°F today · 14 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 4/10 Moderate 6 unhealthy d/yr today · 7 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,743
• − Mortgage interest: −$16,799
• − Property taxes: −$7,690
• − Insurance: −$7,024
• − Repairs & maintenance: −$1,659
• − Management: −$1,659
• − Depreciation: −$8,724
• Taxable loss: −$22,814
• Est. tax savings @ 24.0%: +$5,475
• After-tax cash flow: $-11,725/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: Proviso Twp Hsd 209
• NCES district ID: 1732910
• Math proficiency: 12% ▼ -4.00%
• Reading proficiency: 17% ▼ -3.00%
• Median HH income: $51,744
• Composite: 13.5/100
• National rank: #9518
• State rank: #507 of 620 in IL

Livability — Bellwood

• Score: 77/100
• State rank: #155
• US rank: #2847

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Bellwood, IL
• City population: 18,390
• Population (ZIP): 18,390

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 (70%)
• Race & ethnicity: Black 70% Hispanic / Latino 23% Two or more races 7% White 4% Asian 1%
• Hispanic origin (detail): Mexican 18% Puerto Rican 4%
• Common ancestry: Romanian 1%
• Foreign-born: 10% · Canada
• Languages at home: 78% English-only · Spanish 20% 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: ▼ -212.49%
• Current HPI: 290.8215
• 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

+952.3% since first listed

3 events — show timeline

• 2026-06-07 Listed $299,900 MRED as Distributed by MLS Grid
• 2026-06-07 Listing Removed — MRED as Distributed by MLS Grid
• 1977-04-11 Sold (Public Records) $28,500 Public Records

Property tax history

+12.9%/yr

Latest (2023): $7,690 · +63.6% YoY. Source: county tax records.