Finding a market in Chicago

[Cristian Castillo]

Looking to find a buy and hold property so I started to do some research on a market.

I started to look at some factors but not sure if I’m missing some information or if I have enough to make an educated decision.

I started looking at zip codes in Chicago that had homes selling for less than 100k (multi-families to be specific). Out 72 zip codes 27 of them had 1 or more homes for sale.

I decided to look a little deeper and these were the things I’m looking at to make my decision on a market:

This area had 1 home for sale for 52k

266 homes sold in this area

Average price sold: 246k

123 rent listings in this area

Average rent: 1888

Population: 92339

Population growth %: - .66

State population growth: 3.62

US population growth: 11.61

Median house price: 193900

16 crime reported incidents on crimereports.com

What I came away with this analysis was:

There is only one house under 100k

266 homes for sale means a lot of homes selling

Crimes isn’t horrible in this area

And rent is higher than what I want to make

Population growth was negative

I feel like this market would be ideal if it wasn’t for the population growth.

Would you think this market has potential to be a good investment or do you need to look at other data before making a decision?

Thank you for all the feedback in advance!