5 E Carriageway Dr #308 · Hazel Crest, IL 60429

$94,900

2 bd · 2.0 ba · 1,000 sqft · Condo · 97 Days on market

Built 1977 $304/mo HOA · 13% of rent

---

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
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.5/10.0
• Appreciation +0.0/10.0

Listing remarks

Unbeatable value in Hazel Crest - this beautifully updated 2-bed, 2-bath condo is truly move-in ready and priced to sell. Step into a bright, open living and dining space where sliding doors open to a large private balcony, your spot for morning coffee or unwinding at sunset. The kitchen shines with brand-new stainless steel appliances, generous cabinet space, and a smart, functional layout. Retreat to a spacious primary suite with a walk-in closet and private en-suite featuring a modern vanity, updated flooring, and a clean Bath Fitter tub system. The second bedroom flexes easily as a guest room, home office, or den. Enjoy fresh 2026 paint and luxury vinyl tile flooring throughout. Residen

Key facts

• Private balcony
• Walk-in closet
• En-suite bath

Tags

• PRIVATE BALCONY
• STAINLESS STEEL APPLIANCES
• WALK-IN CLOSET
• EN-SUITE BATH
• ELEVATOR BUILDING
• LAUNDRY NEAR ELEVATORS

Property features AI

Finance

• Financial info: Special service area: No
• HOA & community: Monthly association fee; Association fee includes water, parking, insurance, security, clubhouse, pool, exterior maintenance, lawn care, trash service, and snow removal; Association amenities include coin laundry, park, and pool; Pets allowed (cats and dogs) with deposit; max pet weight 40 lbs; Community park

Exterior

• Parking: One parking space; Asphalt parking; Off-street guest parking (unassigned, owned)
• Security: Association-provided security included
• Utilities: Water source: Lake Michigan; Public sewer; Electric with circuit breakers
• Home design: Attached single-unit condo in a mid-rise (4-6 stories); Entry on level 3; Condo ownership; Rehab planned for 2026; Built 41-50 years ago; Property built before 1978
• Construction: Brick construction; Asphalt roof; Concrete perimeter foundation
• Exterior features: In-ground pool; Patio; Balcony; Outdoor grill; Landscaped grounds; Located on a cul-de-sac

Interior

• Kitchen: Range; Microwave; Dishwasher; Refrigerator; Freezer; Disposal; Pantry-closet
• Bedrooms: Master bedroom on main level (14 x 12); Second bedroom on main level (11 x 10); Two additional bedrooms
• Flooring: Luxury vinyl in main living areas and rooms noted; Laminate flooring
• Bathrooms: Two full bathrooms
• Heating & cooling: Electric forced air heating; Central air conditioning; CO detectors; Intercom
• Interior features: Five total rooms; Separate dining room; Some photos virtually staged
• Laundry & utility: Laundry room

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $95k.

Deal economics

• At list price, monthly cash flow is $864 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $95k).
• Recommended offer: $86k (9.0% below list) — sets the bar for market timing.
• Cap rate 17.2% vs local median 8.9% in Hazel Crest — 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 75/100 on livability (#229 in IL, #4,242 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: health & safety C-, crime F, amenities F.
• Bremen Chsd 228 (suburban): math 15% / reading 17% proficiency, ranked #468 of 620 in IL (top 76%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Hillcrest High School (math 4% / reading 4%, grade F, #657 of 693 statewide, top 95%, 1,314 students, 0% FRL).
• Zoned-school proficiency averages 4% at this address vs 16% district-wide (-12 pts) — the specific schools serving this property underperform the Bremen Chsd 228 average; the district grade overstates school quality for this exact location.
• Market conditions: 80 active listings in the ZIP; 13 comparable units currently listed for rent nearby; rentals leasing fast (median 1d 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 $656 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $27k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 97 days — a 9% lower offer ($86k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $5k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $86,359 (9.0% below list)

Questions for the listing agent

1. It's been on market 97 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1977 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. 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?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. 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.
10. 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.
11. 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: 2.43% ✓
• Cap rate: 17.21%
• Cash-on-cash: 39.00%
• DSCR: 2.74
• GRM: 3.4

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: 35.3%
• Equity multiple: 2.50×
• Total profit: $39,842
• Equity at exit: $14,150

10-year hold

• IRR: 42.2%
• Equity multiple: 5.00×
• Total profit: $106,413
• Equity at exit: $8,205

Cash invested: $26,572 (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 60429

• Home prices YoY: -14.0%
• Active inventory: 80
• Price-to-rent: 3.4×

Monthly cashflow live

• Estimated rent: $2,308 high
• Mortgage (P&I): −$498
• Tax est. 1.5%: −$119 /mo · $1,424/yr
• Insurance: −$40
• HOA: −$304
• Vacancy / Maint / Mgmt: −$485
• Net cashflow: $864

Break-even live

Break-even rent $1,215

Max offer price $94,900

Occupancy floor 58%

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: $23,725
• Closing costs: $2,847
• Reserves months: —
• Total cash needed: —

Rent comps 13 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2722 Larkspur Ln Hazel Crest, IL	3.0	1.5	1441	$2,650	$1.84	12d	1	0.26mi
3501 177th St Country Club Hills, IL	2.0	2.0	839	$2,850	$3.40	1d	1	0.67mi
17561 Hillside Ave Homewood, IL	3.0	1.0	1174	$2,500	$2.13	16d	1	0.91mi
17561 Hillside Ave Homewood, IL	3.0	1.0	1174	$2,300	$1.96	1d	1	0.91mi
2420 183rd St Homewood, IL	2.0	1.0	1100	$1,750	$1.59	11d	1	1.05mi
2308 170th St Hazel Crest, IL	3.0	2.0	1020	$2,400	$2.35	1d	1	1.17mi
2173 171st St Hazel Crest, IL	3.0	1.5	1159	$2,350	$2.03	1d	1	1.20mi
2107 171st St Unit 2107 Hazel Crest, IL	3.0	1.5	1158	$2,300	$1.99	1d	1	1.28mi
16752 Artesian Ave Hazel Crest, IL	3.0	1.0	867	$2,500	$2.88	1d	1	1.29mi
1933 Hickory Rd Unit 1937-C Homewood, IL	1.0	1.0	850	$1,550	$1.82	18d	1	1.41mi
1933 Hickory Rd Homewood, IL	1.0	1.0	850	$1,550	$1.82	20d	1	1.41mi
17984 Amherst Ct Country Club Hills, IL	2.0	1.0	1000	$1,900	$1.90	1d	1	1.41mi
16751 Crane Ave Hazel Crest, IL	3.0	1.0	1200	$1,800	$1.50	1d	1	1.44mi

HOA detail condo

• Monthly dues: $304 · $3,648/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 16 events

1. 2026-06-18
   days on market $94,900 Active 97 DOM
2. 2026-06-17
   days on market $94,900 Active 96 DOM
3. 2026-06-16
   statusdays on market $94,900 Active 95 DOM
4. 2026-06-15
   days on market $94,900 Contingent - Continue to Show 94 DOM
5. 2026-06-13
   days on market $94,900 Contingent - Continue to Show 92 DOM
6. 2026-06-09
   days on market $94,900 Contingent - Continue to Show 88 DOM
7. 2026-06-08
   days on market $94,900 Contingent - Continue to Show 87 DOM
8. 2026-06-07
   days on market $94,900 Contingent - Continue to Show 86 DOM
9. 2026-06-04
   days on market $94,900 Contingent - Continue to Show 83 DOM
10. 2026-06-03
    statusdays on market $94,900 Contingent - Continue to Show 82 DOM
11. 2026-06-02
    days on market $94,900 Active 81 DOM
12. 2026-06-01
    days on market $94,900 Active 80 DOM
13. 2026-05-31
    days on market $94,900 Active 79 DOM
14. 2026-05-16
    status Active
15. 2026-04-07
    historical Contingent - Continue to Show
16. 2026-03-13
    listed $99,900 Active

ⓘ 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 · 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: $27,696
• − Mortgage interest: −$5,316
• − Property taxes: −$1,424
• − Insurance: −$474
• − Repairs & maintenance: −$2,216
• − Management: −$2,216
• − HOA: −$3,648
• − Depreciation: −$2,761
• Taxable income: $9,642
• Est. tax owed @ 24.0%: −$2,314
• After-tax cash flow: $8,048/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: Bremen Chsd 228
• NCES district ID: 1707050
• Math proficiency: 15% ▼ -4.00%
• Reading proficiency: 17% ▼ -5.00%
• Median HH income: $57,625
• Composite: 15.32/100
• National rank: #9327
• State rank: #468 of 620 in IL

Livability — Hazel Crest

• Score: 75/100
• State rank: #229
• US rank: #4242

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: Hazel Crest, IL
• City population: 14,602
• Population (ZIP): 14,602

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 (83%)
• Race & ethnicity: Black 83% White 7% Hispanic / Latino 7% Two or more races 4%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Romanian 1% Iranian 1%
• Foreign-born: 5% · Canada
• Languages at home: 93% English-only · Spanish 6%

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: ▼ -46.04%
• Current HPI: 282.3552
• 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

3 events — show timeline

• 2026-05-16 Relisted — MRED as Distributed by MLS Grid
• 2026-04-07 Contingent — MRED as Distributed by MLS Grid
• 2026-03-13 Listed $99,900 MRED as Distributed by MLS Grid