18555 Hickory Ct #24 · Lansing, IL 60438

$105,000

2 bd · 1.0 ba · 850 sqft · Condo · 13 Days on market

Built 1992 $350/mo HOA · 26% 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 +11.9/30.0
• 1% rule +7.7/10.0
• ARV discount +7.5/15.0
• Livability +3.7/5.0
• DSCR +3.5/10.0
• 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

Immediate possession for 3rd floor condo with balcony. Updated kitchen with oak cabinets. Stove & Refrigerator stay. Remodeled bath. Assoc fee incl's pool use, hot water heat, water, & gas. Clean and ready to move in!

Key facts

• Private balcony
• $350 HOA
• Parking

Tags

• PRIVATE BALCONY
• HIGHLY SECURE BUILDING

Property features AI

Finance

• Other: Number of units in building: 132
• Financial info: Homeowner tax exemption; Special service area: No
• HOA & community: Monthly association fee of $350; Association fee covers heat, water, gas, parking, clubhouse, exterior maintenance, lawn care, and snow removal; Pets allowed (cats and dogs allowed, large weight limit)

Exterior

• Parking: One assigned parking space
• Utilities: Water source: Lake Michigan; Public sewer
• Home design: Attached single (condo); Entry on level 3; Condo ownership; Currently leased; Rehab completed in 2023
• Construction: Brick construction; Building age approximately 31–40 years
• Exterior features: Common/shared lot

Interior

• Kitchen: Kitchen (main level) — 11 x 9
• Bedrooms: Master bedroom (main level) — 14 x 13; Second bedroom (main level) — 12 x 10; Additional bedrooms present
• Bathrooms: One full bathroom
• Heating & cooling: Electric heating; Wall air-conditioning units
• Interior features: Five total rooms; Living room (main level) — 19 x 12; Dining room (main level) — 11 x 9; Family room; Laundry in common area
• Laundry & utility: Laundry located in common area

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $105k.

Deal economics

• At list price, monthly cash flow is $-26 ($-317/yr) — negative.
• To cash-flow at today's rent, offer at most $100k (4.5% below list).
• Meets the 1% rule at list price ($1k rent vs $105k).
• Recommended offer: $100k (4.5% below list) — sets the bar for cash-flow.

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; 12 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 $726 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.

Negotiation context

• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 12y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $17k; list at $105k implies a 518% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 26% of rent.

Recommended offer $100,326 (4.5% 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. 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
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: 1.27% ✓
• Cap rate: 5.99%
• Cash-on-cash: -1.08%
• DSCR: 0.95
• GRM: 6.5

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: -17.8%
• Equity multiple: 0.37×
• Total profit: $-18,460
• Equity at exit: $15,656

10-year hold

• IRR: -9.4%
• Equity multiple: 0.41×
• Total profit: $-17,270
• Equity at exit: $9,078

Cash invested: $29,400 (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: 6.5×

Monthly cashflow live

• Estimated rent: $1,337 high
• Mortgage (P&I): −$551
• Tax from tax record: −$138 /mo · $1,662/yr
• Insurance: −$44
• HOA: −$350
• Vacancy / Maint / Mgmt: −$281
• Net cashflow: $-26

Break-even live

Break-even rent $1,371

Max offer price $100,326

Occupancy floor 97%

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: $26,250
• Closing costs: $3,150
• Reserves months: —
• Total cash needed: —

Rent comps 12 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
18550 Torrence Ave #25 Lansing, IL	2.0	1.0	1000	$1,300	$1.30	11d	1	0.01mi
18440 Torrence Ave Lansing, IL	2.0	1.0	800	$1,200	$1.50	24d	1	0.12mi
18381 Torrence Ave Lansing, IL	2.0	1.0	900	$1,300	$1.44	24d	1	0.23mi
18361 Glen Oak Ave Unit 1E Lansing, IL	2.0	1.0	900	$1,400	$1.56	24d	1	0.28mi
2441 Indiana Ave Lansing, IL	1.0	1.0	600	$975	$1.62	4d	1	0.57mi
2441 Indiana Ave Unit 2N Lansing, IL	1.0	1.0	600	$975	$1.62	13d	1	0.57mi
17754 Rosewood Dr Unit 1N Lansing, IL	2.0	1.0	850	$1,370	$1.61	24d	1	1.08mi
17723 Exchange Ave Unit 17723-1N Lansing, IL	3.0	2.0	1100	$1,800	$1.64	1d	1	1.12mi
17640 Rosewood Dr Unit 2A Lansing, IL	2.0	1.0	950	$1,475	$1.55	17d	1	1.17mi
3020 178th St Apt C7 Lansing, IL	2.0	1.0	900	$1,550	$1.72	24d	1	1.26mi
3020 178th St Unit C1 Lansing, IL	2.0	1.0	900	$1,550	$1.72	1d	1	1.26mi
18335 Sherman St Unit 3 Lansing, IL	3.0	1.0	1000	$1,700	$1.70	1d	1	1.39mi

HOA detail condo

• Monthly dues: $350 · $4,200/yr
• Likely covers: watergaspool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 9 events

1. 2026-06-18
   days on market $105,000 Active 13 DOM
2. 2026-06-17
   days on market $105,000 Active 12 DOM
3. 2026-06-16
   days on market $105,000 Active 11 DOM
4. 2026-06-15
   days on market $105,000 Active 10 DOM
5. 2026-06-13
   days on market $105,000 Active 8 DOM
6. 2026-06-09
   days on market $105,000 Active 4 DOM
7. 2026-06-08
   days on market $105,000 Active 3 DOM
8. 2026-06-07
   remarks 454-char remark
9. 2026-06-07
   listed $105,000 Active 2 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: $1,662 · $138/mo
• Projected year-2 tax: $2,023 · $169/mo
• Expected delta: +$361/yr (+$30/mo · 21.7%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥102°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 0% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,047
• − Mortgage interest: −$5,882
• − Property taxes: −$1,662
• − Insurance: −$525
• − Repairs & maintenance: −$1,284
• − Management: −$1,284
• − HOA: −$4,200
• − Depreciation: −$3,055
• Taxable loss: −$1,844
• Est. tax savings @ 24.0%: +$442
• After-tax cash flow: $125/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

+61.5% since first listed

6 events — show timeline

• 2026-06-05 Listed $105,000 MRED as Distributed by MLS Grid
• 2014-03-18 Sold (Public Records) $17,000 Public Records
• 2014-03-14 Sold (MLS) $17,000 MRED as Distributed by MLS Grid
• 2014-03-03 Pending — MRED as Distributed by MLS Grid
• 2014-02-26 Listed $17,000 MRED as Distributed by MLS Grid
• 1993-09-15 Sold (Public Records) $65,000 Public Records

Property tax history

-2.1%/yr

Latest (2023): $1,662 · +143.4% YoY. Source: county tax records.