227 W 16th Pl · Chicago Heights, IL 60411

$115,000

4 bd · 2.0 ba · 2,192 sqft · SingleFamily public records · 42 Days on market

Built 1910

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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
• ARV discount +7.5/15.0
• Rent growth +4.1/5.0
• Livability +3.6/5.0
• Condition / age +2.5/5.0
• Schools +0.7/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

ROOMY 4 BDRM/2 BATH 2-STORY W/DET'D GARAGE BEING SOLD AS IS. PROOF OF FUNDS OR LETTER FROM BANK/MTG COMPANY REQUESTED. ADDENDUMS REQ'D-ACCESS VIA MLS. SELLER RESERVES RIGHT TO NEGOTIATE OWNER OCCUPANT OR PUBLIC ENTITY OFFERS FOR FIRST 15 DAYS OF LISTING. THIS IS A FANNIE MAE HOMEPATH PROPERTY-ELIGIBLE FOR HOMEPATH AND HOMEPATH RENO FINANCING-FOR AS LITTLE AT 3% DOWN.

Key facts

• 2 garage spots
• Built 1910
• Listed 42 days

Property features AI

Finance

• Other: Property currently not leased; Possession at closing
• HOA & community: No master association fee required

Exterior

• Parking: Detached owned garage (2 garage spaces, 2 total parking spaces)
• Utilities: Public water; Public sewer
• Home design: Detached single-family home; 2 stories; Fee simple ownership; Built over 100 years ago; Built before 1978
• Construction: Vinyl siding exterior; Asphalt roof
• Exterior features: Lot less than 0.25 acre; Lot dimensions: 5720 (source: county records)

Interior

• Kitchen: Kitchen (main level, 14 x 12)
• Bedrooms: 4 bedrooms total; Master bedroom (second level, 12 x 11); Bedroom 2 (second level, 12 x 11); Bedroom 3 (second level, 12 x 9); Bedroom 4 (second level, 12 x 8)
• Bathrooms: 2 full bathrooms
• Heating & cooling: Natural gas forced-air heating; Central air conditioning
• Interior features: 8 total rooms; Unfinished full basement; Bonus room (third level, 24 x 24); Mud room (main level, 22 x 7)
• Laundry & utility: Laundry room (basement, 10 x 10)

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $115k.

Deal economics

• At list price, monthly cash flow is $898 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $115k).
• Recommended offer: $112k (3.0% below list) — sets the bar for market timing.
• Cap rate 15.7% vs local median 6.4% in Chicago Heights — 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 71/100 on livability (#339 in IL) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: employment C-, schools F, crime F.
• Bloom Twp Hsd 206 (suburban): math 8% / reading 9% proficiency, ranked #591 of 620 in IL (top 95%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: Rents rising fast (+6.5%/yr); 222 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).
• This rent runs 41% of the median local income ($62k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $795 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 6.5% rent growth), your $32k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 42 days — a 3% lower offer ($112k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 14y ago; this cycle's ask is 135% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $28k; list at $115k implies a 318% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $111,550 (3.0% below list)

Questions for the listing agent

1. It's been on market 42 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1910 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 1.86% ✓
• Cap rate: 15.66%
• Cash-on-cash: 33.46%
• DSCR: 2.49
• GRM: 4.5

CMA / ARV

• ARV (on-the-fly): $263,040
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
210 W 16th Pl	0.04mi	5/3.0 (+1)	2,016 (-8%)	1mo	$310,900	$154	75
260 W 15th Pl	0.13mi	4/2.0	1,886 (-14%)	3mo	$190,556	$101	68
208 Country Club Rd	0.48mi	4/3.0	2,180 (-0%)	11mo	$300,000	$138	64
213 Country Club Rd	0.52mi	4/2.5	2,374 (+8%)	1mo	$350,000	$147	59
119 W 16th Pl	0.26mi	5/1.5 (+1)	2,038 (-7%)	15mo	$245,000	$120	57
141 W 13th St	0.49mi	3/3.0 (-1)	2,143 (-2%)	10mo	$234,900	$110	56
1305 Campbell Ave	0.42mi	4/2.0	1,995 (-9%)	14mo	$220,000	$110	54
1241 Franklin Ave	0.47mi	3/2.0 (-1)	2,300 (+5%)	13mo	$283,000	$123	54
351 16th Pl	0.26mi	3/1.0 (-1)	1,864 (-15%)	3mo	$120,000	$64	51
1328 Otto Blvd	0.74mi	4/3.0	2,400 (+10%)	1mo	$285,000	$119	45
36 Forest Ave	0.73mi	4/1.5	2,076 (-5%)	14mo	$55,000	$26	44
61 W Main St	0.52mi	3/2.0 (-1)	1,900 (-13%)	15mo	$270,000	$142	36

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 · 6.48% rent growth · sell at horizon

5-year hold

• IRR: 32.6%
• Equity multiple: 2.44×
• Total profit: $46,340
• Equity at exit: $17,147

10-year hold

• IRR: 41.5%
• Equity multiple: 5.61×
• Total profit: $148,333
• Equity at exit: $9,943

Cash invested: $32,200 (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 60411

• Home prices YoY: -33.9%
• Rents YoY: 6.5%
• Active inventory: 222
• Price-to-rent: 4.5×

Monthly cashflow live

• Estimated rent: $2,142 medium
• Mortgage (P&I): −$603
• Tax est. 1.5%: −$144 /mo · $1,725/yr
• Insurance: −$48
• HOA: −$0
• Vacancy / Maint / Mgmt: −$450
• Net cashflow: $898

Break-even live

Break-even rent $1,006

Max offer price $115,000

Occupancy floor 53%

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: $28,750
• Closing costs: $3,450
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1665 Buena Vista Ave Unit 3 Chicago Heights, IL	4.0	1.0	1700	$1,800	$1.06	18d	1	0.28mi

Listing history 24 events

1. 2026-06-18
   days on market $115,000 Active 42 DOM
2. 2026-06-17
   days on market $115,000 Active 41 DOM
3. 2026-06-16
   days on market $115,000 Active 40 DOM
4. 2026-06-15
   price $115,000 Active 39 DOM
5. 2026-06-15
   days on market $130,000 Active 39 DOM
6. 2026-06-13
   days on market $130,000 Active 37 DOM
7. 2026-06-13
   days on market $130,000 Active 36 DOM
8. 2026-06-09
   days on market $130,000 Active 33 DOM
9. 2026-06-08
   days on market $130,000 Active 32 DOM
10. 2026-06-07
    days on market $130,000 Active 31 DOM
11. 2026-06-04
    days on market $130,000 Active 28 DOM
12. 2026-06-03
    days on market $130,000 Active 27 DOM
13. 2026-06-02
    days on market $130,000 Active 26 DOM
14. 2026-06-01
    days on market $130,000 Active 25 DOM
15. 2026-05-31
    days on market $130,000 Active 24 DOM
16. 2013-08-23
    soldstatus $27,500 Closed Sale 369-char remark

    Show marketing remark (369 chars)

    ROOMY 4 BDRM/2 BATH 2-STORY W/DET'D GARAGE BEING SOLD AS IS. PROOF OF FUNDS OR LETTER FROM BANK/MTG COMPANY REQUESTED. ADDENDUMS REQ'D-ACCESS VIA MLS. SELLER RESERVES RIGHT TO NEGOTIATE OWNER OCCUPANT OR PUBLIC ENTITY OFFERS FOR FIRST 15 DAYS OF LISTING. THIS IS A FANNIE MAE HOMEPATH PROPERTY-ELIGIBLE FOR HOMEPATH AND HOMEPATH RENO FINANCING-FOR AS LITTLE AT 3% DOWN.

17. 2013-06-17
    status Pending 369-char remark

    Show marketing remark (369 chars)

    ROOMY 4 BDRM/2 BATH 2-STORY W/DET'D GARAGE BEING SOLD AS IS. PROOF OF FUNDS OR LETTER FROM BANK/MTG COMPANY REQUESTED. ADDENDUMS REQ'D-ACCESS VIA MLS. SELLER RESERVES RIGHT TO NEGOTIATE OWNER OCCUPANT OR PUBLIC ENTITY OFFERS FOR FIRST 15 DAYS OF LISTING. THIS IS A FANNIE MAE HOMEPATH PROPERTY-ELIGIBLE FOR HOMEPATH AND HOMEPATH RENO FINANCING-FOR AS LITTLE AT 3% DOWN.

18. 2013-05-31
    price $32,000 Price Change 369-char remark

    Show marketing remark (369 chars)

    ROOMY 4 BDRM/2 BATH 2-STORY W/DET'D GARAGE BEING SOLD AS IS. PROOF OF FUNDS OR LETTER FROM BANK/MTG COMPANY REQUESTED. ADDENDUMS REQ'D-ACCESS VIA MLS. SELLER RESERVES RIGHT TO NEGOTIATE OWNER OCCUPANT OR PUBLIC ENTITY OFFERS FOR FIRST 15 DAYS OF LISTING. THIS IS A FANNIE MAE HOMEPATH PROPERTY-ELIGIBLE FOR HOMEPATH AND HOMEPATH RENO FINANCING-FOR AS LITTLE AT 3% DOWN.

19. 2013-04-26
    price $36,500 Price Change 369-char remark

    Show marketing remark (369 chars)

    ROOMY 4 BDRM/2 BATH 2-STORY W/DET'D GARAGE BEING SOLD AS IS. PROOF OF FUNDS OR LETTER FROM BANK/MTG COMPANY REQUESTED. ADDENDUMS REQ'D-ACCESS VIA MLS. SELLER RESERVES RIGHT TO NEGOTIATE OWNER OCCUPANT OR PUBLIC ENTITY OFFERS FOR FIRST 15 DAYS OF LISTING. THIS IS A FANNIE MAE HOMEPATH PROPERTY-ELIGIBLE FOR HOMEPATH AND HOMEPATH RENO FINANCING-FOR AS LITTLE AT 3% DOWN.

20. 2013-03-15
    price $42,900 Price Change 369-char remark

    Show marketing remark (369 chars)

    ROOMY 4 BDRM/2 BATH 2-STORY W/DET'D GARAGE BEING SOLD AS IS. PROOF OF FUNDS OR LETTER FROM BANK/MTG COMPANY REQUESTED. ADDENDUMS REQ'D-ACCESS VIA MLS. SELLER RESERVES RIGHT TO NEGOTIATE OWNER OCCUPANT OR PUBLIC ENTITY OFFERS FOR FIRST 15 DAYS OF LISTING. THIS IS A FANNIE MAE HOMEPATH PROPERTY-ELIGIBLE FOR HOMEPATH AND HOMEPATH RENO FINANCING-FOR AS LITTLE AT 3% DOWN.

21. 2013-02-13
    listed $48,900 New 369-char remark

    Show marketing remark (369 chars)

    ROOMY 4 BDRM/2 BATH 2-STORY W/DET'D GARAGE BEING SOLD AS IS. PROOF OF FUNDS OR LETTER FROM BANK/MTG COMPANY REQUESTED. ADDENDUMS REQ'D-ACCESS VIA MLS. SELLER RESERVES RIGHT TO NEGOTIATE OWNER OCCUPANT OR PUBLIC ENTITY OFFERS FOR FIRST 15 DAYS OF LISTING. THIS IS A FANNIE MAE HOMEPATH PROPERTY-ELIGIBLE FOR HOMEPATH AND HOMEPATH RENO FINANCING-FOR AS LITTLE AT 3% DOWN.

22. 2013-01-11
    historical
23. 2012-02-29
    listed New
24. 1997-01-21
    soldstatus $94,900

ⓘ 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 1/10 Low FEMA zone X (unshaded) · 0% 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 · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $25,709
• − Mortgage interest: −$6,442
• − Property taxes: −$1,725
• − Insurance: −$575
• − Repairs & maintenance: −$2,057
• − Management: −$2,057
• − Depreciation: −$3,345
• Taxable income: $9,508
• Est. tax owed @ 24.0%: −$2,282
• After-tax cash flow: $8,491/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: Bloom Twp Hsd 206
• NCES district ID: 1706420
• Math proficiency: 8% ▼ -3.00%
• Reading proficiency: 9% ▼ -8.00%
• Median HH income: $39,795
• Composite: 7.4/100
• National rank: #9952
• State rank: #591 of 620 in IL

Livability — Chicago Heights

• Score: 71/100
• State rank: #339
• US rank: #6836

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Chicago Heights, IL
• County: Cook County · 4,486,803 people
• City population: 52,175
• Metro: Chicago-Naperville-Elgin, IL-IN-WI
• Population (ZIP): 52,175
• Household income: $62,073
• Rent vs Own: 34.8% rent · 65.2% own
• Severe rent burden: 1714.0

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 0.66)
• Race & ethnicity: Black 49% Hispanic / Latino 26% White 19% Two or more races 11%
• Hispanic origin (detail): Mexican 22% Puerto Rican 2%
• Common ancestry: Romanian 4% Portuguese 1% Lithuanian 1%
• Foreign-born: 12% · Canada
• Languages at home: 76% English-only · Spanish 21% Russian/Polish/Slavic 1% 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: ▼ -108.75%
• Current HPI: 212.4058
• Rent YoY: ▲ 6.48%
• 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

-71.0% since first listed

9 events — show timeline

• 2013-08-23 Sold (MLS) $27,500 MRED as Distributed by MLS Grid
• 2013-06-17 Pending — MRED as Distributed by MLS Grid
• 2013-05-31 Price Changed $32,000 MRED as Distributed by MLS Grid
• 2013-04-26 Price Changed $36,500 MRED as Distributed by MLS Grid
• 2013-03-15 Price Changed $42,900 MRED as Distributed by MLS Grid
• 2013-02-13 Listed $48,900 MRED as Distributed by MLS Grid
• 2013-01-11 Listing Removed — MRED as Distributed by MLS Grid
• 2012-02-29 Listed — MRED as Distributed by MLS Grid
• 1997-01-21 Sold (Public Records) $94,900 Public Records

Property tax history

+3.4%/yr

Latest (2023): $5,757 · -5.7% YoY. Source: county tax records.