15634 Ridgeway Ave · Markham, IL 60428

$145,000

2 bd · 1.0 ba · 1,130 sqft · SingleFamily public records · 194 Days on market

Built 1941 8,160 sqft lot Est $184k · 21% under

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Why this score? — see what drove the A 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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.5/10.0

Listing remarks

3 BEDROOM HOME IN WEST MARKHAM. FIRST FLOOR FEATURES 1 BEDROOM, KITCHEN, DINING ROOM, HARDWOOD FLOORS THROUGHOUT. 2 LARGE BEDROOMS UPSTAIRS! NEWER WINDOWS. HEATING SYSTEM IS NEWER AND CONVERTED FROM RADIATORS TO FORCED AIR HEAT AND CENTRAL AIR! LARGE FENCED BACK YARD THAT'S ADJACENT TO A WOODED AREA. CLOSE TO EXPRESSWAYS AND PUBLIC TRANSPORTATION. PRE-APPROVED BUYERS PLEASE.

Key facts

• Close to expressways
• Newer windows
• Heating system

Tags

• HARDWOOD FLOORS
• NEWER WINDOWS
• HEATING SYSTEM
• LARGE FENCED BACK YARD
• ADJACENT TO WOODED AREA
• CLOSE TO EXPRESSWAYS

Property features AI

Finance

• Other: School bus service and commuter transit access nearby; Property not currently leased; Possession at closing
• HOA & community: No master association fee required; Community features: park, street lights, paved streets

Exterior

• Parking: Attached garage (owned) with approximately 1.5 garage spaces; About 4.5 total parking spaces; Asphalt driveway and off-street parking
• Utilities: Water from Lake Michigan / public water; Public sewer
• Home design: Detached single-family home; 1.5-story design; Fee-simple ownership; Built before 1978
• Construction: Vinyl siding with frame construction; Asphalt roof; Concrete perimeter foundation; Estimated age 81–90 years
• Exterior features: Fenced yard; Lot dimensions approximately 60 x 136; Less than 0.25 acre lot

Interior

• Kitchen: Range; Microwave; Refrigerator; Hardwood flooring in kitchen
• Bedrooms: Master bedroom on main level (11 x 11) with window treatments and hardwood flooring; Two additional bedrooms on second level (13 x 17 carpet; 9 x 16 carpet)
• Flooring: Hardwood flooring throughout main living areas; Carpet in upstairs bedrooms; Vinyl in laundry
• Bathrooms: One full bathroom
• Heating & cooling: Natural gas forced-air heating; Central air conditioning
• Interior features: First-floor bedroom and first-floor full bathroom; Separate dining room; 6 total rooms; Window screens; Carbon monoxide detectors
• Laundry & utility: Main-level laundry (9 x 6) with vinyl flooring; Washer and dryer included

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $145k.

Deal economics

• At list price, monthly cash flow is $1k ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $145k).
• Recommended offer: $128k (12.0% below list) — sets the bar for market timing.
• Cap rate 14.7% vs local median 10.2% in Markham — 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 76/100 on livability (#186 in IL, #3,539 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: crime D, amenities D, employment D.
• 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.
• Market conditions: 65 active listings in the ZIP; 4 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

• In year one you build about $16k of equity ($1k loan paydown + $14k appreciation (10.0% local appreciation)).
• At projected returns (10.0% appreciation + 3.0% rent growth), your $41k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$39k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 194 days — a 12% lower offer ($128k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 10y 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 $90k; list at $145k implies a 61% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1941 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $127,600 (12.0% below list)

Questions for the listing agent

1. It's been on market 194 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 1941 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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. 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.
8. 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.
9. 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: 1.84% ✓
• Cap rate: 14.70%
• Cash-on-cash: 30.03%
• DSCR: 2.34
• GRM: 4.5

CMA / ARV

• ARV (on-the-fly): $184,190
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
15435 Hamlin Ave	0.36mi	3/1.0 (+1)	1,107 (-2%)	3mo	$155,000	$140	73
3733 W 157th St	0.07mi	3/1.0 (+1)	1,023 (-10%)	8mo	$115,000	$112	70
3737 Rose Manor Ter	0.47mi	2/1.0	1,210 (+7%)	0mo	$165,000	$136	66
3813 153rd St	0.54mi	2/1.0	1,075 (-5%)	1mo	$268,130	$249	66
3620 Arthur Ter	0.66mi	2/1.0	1,135 (+0%)	8mo	$162,900	$144	62
15823 S Saint Louis Ave	0.52mi	3/2.0 (+1)	1,203 (+6%)	4mo	$220,000	$183	52
15417 Cherry Ln	0.62mi	3/1.0 (+1)	1,040 (-8%)	5mo	$157,000	$151	48
15422 Cherry Ln	0.60mi	3/1.5 (+1)	1,040 (-8%)	4mo	$175,000	$168	48
16030 Saint Louis Ave	0.65mi	3/1.5 (+1)	1,228 (+9%)	3mo	$200,000	$163	46
15315 Cherry Ln	0.73mi	3/1.0 (+1)	1,040 (-8%)	3mo	$195,000	$188	45
15313 Cherry Ln	0.74mi	3/1.0 (+1)	1,036 (-8%)	3mo	$89,000	$86	44
3519 Roesner Dr	0.72mi	3/1.0 (+1)	1,040 (-8%)	8mo	$175,000	$168	41

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold

• IRR: 47.1%
• Equity multiple: 4.54×
• Total profit: $143,772
• Equity at exit: $130,627

10-year hold

• IRR: 41.0%
• Equity multiple: 10.18×
• Total profit: $372,691
• Equity at exit: $281,703

Cash invested: $40,600 (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 60428

• Home prices YoY: 8.5%
• Active inventory: 65
• Price-to-rent: 4.5×

Monthly cashflow live

• Estimated rent: $2,668 medium
• Mortgage (P&I): −$760
• Tax from tax record: −$271 /mo · $3,253/yr
• Insurance: −$60
• HOA: −$0
• Vacancy / Maint / Mgmt: −$560
• Net cashflow: $1,016

Break-even live

Break-even rent $1,382

Max offer price $145,000

Occupancy floor 57%

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: $36,250
• Closing costs: $4,350
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
16450 Roy St Oak Forest, IL	3.0	1.5	1500	$2,400	$1.60	17d	1	1.22mi
15544 Kilpatrick Ave Oak Forest, IL	2.0–3.0	2.5	1630	$2,995	$1.84	1d	2	1.28mi
4800 157th St Oak Forest, IL	2.0	2.0	1031	$2,660	$2.58	1d	1	1.37mi
4800 W 157th St Oak Forest, IL	1.0–2.0	1.0–2.0	1151	$2,660	$2.31	1d	3	1.37mi

Listing history 29 events

1. 2026-06-18
   days on market $145,000 Active 194 DOM
2. 2026-06-17
   days on market $145,000 Active 193 DOM
3. 2026-06-16
   days on market $145,000 Active 192 DOM
4. 2026-06-15
   days on market $145,000 Active 191 DOM
5. 2026-06-13
   days on market $145,000 Active 189 DOM
6. 2026-06-09
   days on market $145,000 Active 185 DOM
7. 2026-06-08
   days on market $145,000 Active 184 DOM
8. 2026-06-07
   days on market $145,000 Active 183 DOM
9. 2026-06-04
   days on market $145,000 Active 180 DOM
10. 2026-06-03
    days on market $145,000 Active 179 DOM
11. 2026-06-02
    days on market $145,000 Active 178 DOM
12. 2026-06-01
    days on market $145,000 Active 177 DOM
13. 2026-05-31
    days on market $145,000 Active 176 DOM
14. 2025-12-05
    listed $145,000 Active
15. 2025-12-01
    historical
16. 2025-09-09
    price
17. 2025-08-16
    price
18. 2025-08-03
    listed Active
19. 2025-06-05
    historical
20. 2024-08-24
    listed Active
21. 2017-02-27
    soldstatus $90,000
22. 2017-02-17
    soldstatus $90,000 Closed Sale
23. 2016-10-12
    status Pending
24. 2016-08-18
    price $97,900
25. 2016-07-07
    listed $99,900 New
26. 2006-05-22
    soldstatus $67,000
27. 2006-01-09
    soldstatus $78,000
28. 1991-03-08
    soldstatus $35,500
29. 1991-03-07
    soldstatus $35,500

ⓘ 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: $3,253 · $271/mo
• Projected year-2 tax: $3,272 · $273/mo
• Expected delta: +$19/yr (+$2/mo · 0.6%)

ⓘ 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 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: $32,018
• − Mortgage interest: −$8,122
• − Property taxes: −$3,253
• − Insurance: −$725
• − Repairs & maintenance: −$2,561
• − Management: −$2,561
• − Depreciation: −$4,218
• Taxable income: $10,577
• Est. tax owed @ 24.0%: −$2,538
• After-tax cash flow: $9,653/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 — Markham

• Score: 76/100
• State rank: #186
• US rank: #3539

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Markham, IL
• City population: 10,980
• Population (ZIP): 10,980

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 (69%)
• Race & ethnicity: Black 69% Hispanic / Latino 17% White 11% Two or more races 4%
• Hispanic origin (detail): Mexican 16%
• Common ancestry: Romanian 1% Lithuanian 1% Iranian 1%
• Foreign-born: 8% · Canada
• Languages at home: 86% English-only · Spanish 14%

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: ▲ 23.63%
• Current HPI: 302.333
• 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

+308.5% since first listed

16 events — show timeline

• 2025-12-05 Listed $145,000 MRED as Distributed by MLS Grid
• 2025-12-01 Listing Removed — MRED as Distributed by MLS Grid
• 2025-09-09 Price Changed — MRED as Distributed by MLS Grid
• 2025-08-16 Price Changed — MRED as Distributed by MLS Grid
• 2025-08-03 Listed — MRED as Distributed by MLS Grid
• 2025-06-05 Listing Removed — MRED as Distributed by MLS Grid
• 2024-08-24 Listed — MRED as Distributed by MLS Grid
• 2017-02-27 Sold (Public Records) $90,000 Public Records
• 2017-02-17 Sold (MLS) $90,000 MRED as Distributed by MLS Grid
• 2016-10-12 Pending — MRED as Distributed by MLS Grid
• 2016-08-18 Price Changed $97,900 MRED as Distributed by MLS Grid
• 2016-07-07 Listed $99,900 MRED as Distributed by MLS Grid
• 2006-05-22 Sold (Public Records) $67,000 Public Records
• 2006-01-09 Sold (Public Records) $78,000 Public Records
• 1991-03-08 Sold (Public Records) $35,500 Public Records
• 1991-03-07 Sold (Public Records) $35,500 Public Records

Property tax history

+4.0%/yr

Latest (2023): $3,253 · +3.8% YoY. Source: county tax records.