3 beds 1 baths 1,078 sqft

Hazel Crest Illinois Ranch Home With 3 Bedrooms and Renovation Potential for $49,900

Affordable homes with renovation potential can attract both first-time buyers and real estate investors looking for a property that can be improved over time. In Hazel Crest, Illinois, a three-bedroom, one-bathroom home is currently listed for $49,900, offering approximately 1,078 square feet of single-level living space on a 5,400-square-foot lot.

Built in 1913, the property has a long history and a traditional brick exterior. The home features three bedrooms, one full bathroom, a large kitchen, a separate laundry area, a spacious living room, natural gas heating, public water, public sewer, and a crawl-space foundation. The listing describes it as a property with plenty of potential and specifically identifies both investors and buyers who want to add their personal touches as possible audiences.

The property is being sold strictly as-is, where-is. The seller will not provide a survey, and buyers are responsible for verifying the information that is important to them before completing the purchase.

At $49,900, the home provides an entry point into the Hazel Crest residential market that may be attractive to buyers seeking a renovation project. At the same time, the annual property tax listed at approximately $4,785 is an important financial consideration, particularly for investors calculating the property’s long-term carrying costs.

With all three bedrooms located on the main level and a one-story design, the home offers convenient single-level living. Its compact lot, established brick construction, large kitchen, and existing utility connections create a practical foundation for a variety of potential plans.

A $49,900 Opportunity in Hazel Crest

The current asking price is $49,900, with the property listed as a single-family residence.

At approximately $46 per square foot based on the listing’s stated price per square foot, the property falls into an affordable segment of the local housing market. However, the purchase price should not be considered the complete cost of acquiring and improving the home.

The listing clearly states that the property is being sold as-is, where-is. That means buyers should carefully investigate the home’s current condition before establishing a renovation budget or deciding how much the property is ultimately worth to them.

The home could potentially appeal to an investor seeking a renovation project, a buyer looking for a lower-priced property to customize, or someone interested in a single-level residence with three bedrooms.

Each potential strategy requires a different financial analysis.

An investor may focus on renovation costs, rental demand, future resale value, property taxes, insurance, maintenance, and carrying costs. An owner-occupant may focus more on livability, comfort, repair priorities, and the total cost of creating a suitable home.

Convenient Single-Level Living

One of the strongest practical features of this property is its one-story layout.

All three bedrooms are located on the main level, making the home easy to navigate without interior stairs between bedroom levels.

For many buyers, single-level living can provide convenience for everyday routines. Bedrooms, the kitchen, living room, bathroom, and laundry area are all arranged on the main floor.

The primary bedroom measures approximately 182 square feet, with listed dimensions of 14 by 13 feet. The second bedroom is approximately 156 square feet, measuring 12 by 13 feet, while the third bedroom is approximately 110 square feet, measuring 11 by 10 feet.

These room sizes provide a useful starting point for understanding the property’s layout.

The home may also appeal to buyers who prefer having bedrooms separated from living areas without the complexity of a multi-story interior.

Three Bedrooms for Flexible Use

The property includes three bedrooms and one full bathroom.

A three-bedroom home can serve a variety of household arrangements. The rooms could be used for family members, guests, a home office, hobby space, or other permitted purposes.

For a potential rental property, three bedrooms can also make the home relevant to households seeking more space than a typical apartment or two-bedroom residence.

The primary bedroom is the largest of the three, while the other two bedrooms provide additional sleeping or flexible-use areas.

Because the home is being sold as-is, buyers should inspect each bedroom carefully for flooring condition, windows, walls, ceilings, electrical outlets, heating, moisture, and other potential repair needs.

A Large 255-Square-Foot Kitchen

The kitchen is one of the largest individual areas listed in the property facts.

At approximately 255 square feet, with dimensions of 17 by 15 feet, the kitchen provides considerable space relative to the home’s overall 1,078 square feet.

A large kitchen can be valuable for both owner-occupants and investors.

For an owner, it can provide space for cooking, storage, dining, or a more open configuration.

For an investor, the kitchen may offer an opportunity to create a modernized space that improves the overall appeal of the property.

The current listing does not provide detailed information about the condition of the cabinets, countertops, appliances, flooring, plumbing fixtures, or electrical systems. Those details should be inspected before determining whether the kitchen needs minor cosmetic work or a complete renovation.

Kitchen renovations can vary significantly in cost depending on the scope of work.

A simple improvement project might involve paint, fixtures, hardware, and flooring, while a larger renovation could require new cabinets, countertops, appliances, plumbing, electrical upgrades, and lighting.

Separate Main-Level Laundry Area

The home includes a dedicated laundry area on the main level.

The laundry space measures approximately 108 square feet, with dimensions of 12 by 9 feet.

Having laundry on the main level can be convenient because residents do not need to carry clothing between floors or access a basement laundry room.

The listing does not provide extensive details about the current washer, dryer, hookups, ventilation, or flooring, so buyers should inspect the area during due diligence.

The laundry room could also provide additional storage opportunities depending on its configuration.

Spacious Living Room

The main-level living room is listed at approximately 208 square feet, measuring 16 by 13 feet.

This provides a substantial central gathering area for a home of approximately 1,078 square feet.

A living room of this size could accommodate a variety of furniture arrangements and potentially create a comfortable common area for a household.

For an investor preparing the property for resale or rental, the living room could be improved with updated flooring, paint, lighting, trim, or other cosmetic upgrades if necessary.

Because the property is an older home, buyers should also inspect the walls, ceilings, windows, electrical outlets, and floor structure.

Brick Construction and 1913 Character

The property was built in 1913 and features brick construction.

A brick exterior can provide a distinctive appearance and, when properly maintained, can offer long-term durability.

The age of the home also means buyers should be prepared to investigate the systems and construction details that have accumulated over more than a century.

A home built in 1913 may have undergone multiple renovations during its lifetime. Some components may be relatively modern while others could be much older.

Important inspection areas include the foundation, masonry, roof, electrical system, plumbing, heating, windows, doors, insulation, drainage, and interior finishes.

The property’s age should not automatically be viewed as either an advantage or disadvantage. Instead, it makes professional inspection and documentation particularly important.

Crawl-Space Foundation

The home has a crawl-space foundation rather than a full basement.

Crawl spaces can provide access to plumbing, electrical components, ductwork, and other systems beneath the home.

They can also require careful inspection for moisture, standing water, wood deterioration, pests, insulation problems, and ventilation issues.

Because the home is more than 100 years old, the crawl space deserves particular attention.

A professional inspector can evaluate whether the space is dry and properly ventilated and whether there are signs of structural or moisture-related problems.

Drainage around the property should also be evaluated because water that accumulates around the foundation can eventually create problems beneath the home.

Natural Gas Heating

The property uses natural gas heating.

Heating is an important consideration in Illinois, where winter temperatures can create substantial demand for residential heating systems.

The listing does not specify the age or exact type of the heating equipment. Buyers should therefore determine whether the system is operational, how old it is, whether it has been maintained, and whether it is appropriately sized for the home.

A professional HVAC inspection can provide information about the system’s condition and remaining useful life.

The listing does not identify a cooling system.

For a buyer intending to live in the home or rent it, cooling options should therefore be investigated.

Adding or upgrading cooling equipment may become part of the renovation budget.

Public Water and Public Sewer

The property is connected to public water and public sewer.

These municipal utility connections can simplify ownership compared with properties that depend on private wells and septic systems.

Nevertheless, the condition of the property’s interior plumbing should still be evaluated.

Older homes can contain aging pipes, previous repairs, leaks, or plumbing configurations that require modernization.

A buyer should also verify that water and sewer services are active and determine whether there are any outstanding municipal balances or charges.

A 5,400-Square-Foot Lot

The home sits on a 5,400-square-foot lot, with listed dimensions of approximately 100 by 54 feet.

The lot provides outdoor space for the residence while remaining relatively manageable in size.

A smaller residential parcel can be attractive to buyers who prefer less lawn maintenance.

For an investor, a compact lot can also mean less landscaping work and potentially lower exterior maintenance costs.

The property information also indicates that an additional parcel is included. The listing identifies an additional parcel number, so buyers should verify exactly which parcels are included in the transaction and confirm the combined property boundaries.

This is particularly important because the seller will not provide a survey.

Buyer Must Verify Property Information

The listing specifically states that the seller will not provide a survey and that the buyer is responsible for verifying all information.

That language should be taken seriously.

Buyers should verify the property dimensions, lot boundaries, parcel information, building size, room measurements, zoning, taxes, utilities, and any other details that materially affect their decision.

If an additional parcel is included, a buyer should confirm its exact legal description and determine whether both parcels transfer together.

A professional survey may be worthwhile, especially if future improvements, fencing, additions, or other property changes are being considered.

Sold As-Is, Where-Is

The as-is, where-is sale is another central consideration.

This means buyers should not approach the property assuming the seller will complete repairs or correct deficiencies before closing.

Instead, the buyer should determine the home’s condition independently.

An inspection can identify issues involving the roof, foundation, electrical system, plumbing, heating, crawl space, masonry, windows, doors, and interior finishes.

Because the property was built in 1913, an inspection can be particularly useful for identifying problems that may not be immediately visible during a showing.

Potential Renovation Strategy

The listing describes the property as offering plenty of potential.

For a renovation-minded buyer, the first step should be determining whether the property needs primarily cosmetic improvements or more substantial structural and mechanical work.

Cosmetic work might include:

• Interior painting
• New flooring
• Updated lighting
• Cabinet refinishing
• New fixtures
• Landscaping
• Exterior cleanup
• Modern hardware

More significant improvements could involve:

• Roof replacement
• Masonry repairs
• Plumbing upgrades
• Electrical modernization
• HVAC replacement
• Window replacement
• Kitchen remodeling
• Bathroom remodeling
• Crawl-space remediation
• Structural repairs

The cost difference between these two categories can be substantial.

A buyer should therefore obtain professional estimates before assuming that the property can be renovated within a particular budget.

Potential Rental Property

The three-bedroom layout could potentially make the property suitable for rental use.

A landlord would have a relatively straightforward residential configuration with three bedrooms, one bathroom, a kitchen, living room, laundry room, and outdoor lot.

Before purchasing for rental purposes, investors should research comparable rental properties in Hazel Crest and surrounding communities.

Rental analysis should consider:

• Expected monthly rent
• Property taxes
• Insurance
• Repairs
• Maintenance
• Vacancy
• Property management
• Utilities
• Landscaping
• Capital expenditures

The annual property tax listed for this home is approximately $4,785, which is a significant operating expense that should be incorporated into any rental calculation.

Investors should verify the current tax amount and determine whether future reassessment could change the annual obligation.

Potential Fix-and-Hold Strategy

A buyer could also consider a long-term hold strategy.

Under this approach, the property would be renovated to a suitable standard and maintained as a rental over time.

The advantage of a long-term strategy is that the investor may focus on consistent property operation rather than relying on a quick resale.

However, the property’s financial performance would depend on rental income relative to operating expenses.

The annual taxes are particularly relevant.

Insurance, maintenance, vacancy, repairs, and capital improvements would also need to be considered.

A realistic cash-flow analysis should be completed before purchasing.

Potential Fix-and-Resell Strategy

The listing also presents an opportunity for an investor interested in renovating and reselling.

A fix-and-resell project would require research into recently sold homes in the same market.

The investor would need to determine the potential resale value after renovation and subtract all anticipated expenses.

Those expenses could include acquisition, closing costs, construction, permits, utilities, taxes, insurance, financing, landscaping, staging, marketing, and selling costs.

A contingency reserve is also important because older properties can reveal unexpected problems during renovation.

The final resale value should be based on comparable sales rather than an optimistic estimate.

Owner-Occupant Possibility

The property may also appeal to someone who wants to purchase an affordable home and improve it over time.

The one-story layout could be convenient for daily living, with all three bedrooms located on the main level.

The large kitchen, spacious living room, dedicated laundry area, and public utilities provide a practical residential foundation.

A buyer could potentially prioritize the most important repairs first and complete cosmetic improvements gradually, subject to safety and local requirements.

Before moving into the property, however, the buyer should make sure essential systems are safe and functional.

Understanding the Tax Assessment

The listing reports a tax assessed value of approximately $11,030 and annual property taxes of about $4,785.

The relationship between assessed value, annual taxes, and asking price should be carefully reviewed.

Tax assessment figures are not the same as market appraisals, and buyers should not assume that an assessed value establishes what the property is worth.

The annual tax figure, however, is a direct financial consideration.

At approximately $4,785 per year, property taxes would represent a meaningful portion of the carrying cost for an investor or homeowner.

Before closing, the buyer should confirm current taxes, any unpaid balances, special assessments, and whether reassessment may occur after the transaction.

Hazel Crest Location

Hazel Crest is a suburban community south of Chicago, providing access to the broader Chicago metropolitan area while maintaining its own residential character.

For real estate investors, location within the metropolitan area can be an important consideration because housing demand is influenced by employment centers, transportation, schools, retail, healthcare, and other regional amenities.

However, citywide statistics are not enough to evaluate a specific property.

The buyer should examine the immediate neighborhood, nearby homes, recent sales, rental listings, property conditions, transportation options, and local development.

Neighborhood-level research can provide a much more useful picture of the property’s potential than broad regional statistics.

Why the One-Story Layout Matters

The one-story design is one of the home’s most practical features.

All three bedrooms are on the main floor, along with the living room, kitchen, laundry area, and bathroom.

This arrangement can be attractive to households that prefer to avoid stairs.

It can also simplify certain renovation projects because all primary living areas are concentrated on one level.

For an investor, a simple floor plan may be easier to market to a broad range of tenants.

Potential Value of the Additional Parcel

The listing identifies an additional parcel as being included.

This is an important detail that deserves independent verification.

A second parcel can potentially provide additional land or flexibility, but the exact benefit depends on its size, configuration, zoning, access, and legal relationship to the primary property.

Buyers should confirm whether the additional parcel is included in the advertised price, whether both parcels transfer together, and whether any restrictions or separate taxes apply.

A survey and review of the legal descriptions can help eliminate uncertainty.

Questions Investors Should Ask Before Buying

Anyone considering this Hazel Crest property should investigate several key questions.

Is the roof in good condition?

Does the brick exterior need repairs?

How old is the heating system?

Are there plumbing problems?

Is the electrical system updated?

Is the crawl space dry?

Are there signs of foundation movement?

Does the property require a new cooling system?

What is the current condition of the kitchen?

Does the bathroom need remodeling?

Are all three bedrooms legally recognized?

What exactly is included with the additional parcel?

Are there outstanding taxes or municipal charges?

What permits would be needed for planned renovations?

What are comparable three-bedroom homes selling for?

What are comparable three-bedroom rentals earning?

These questions can help transform the listing information into a realistic investment analysis.

Building a Renovation Budget

A detailed renovation budget is essential for an as-is property.

The buyer should separate immediate safety and structural repairs from cosmetic improvements.

For example, if the roof is failing, replacing the roof would generally be more important than installing new decorative finishes.

If the crawl space has moisture problems, addressing the source of moisture should come before replacing interior flooring.

If the heating system is near the end of its service life, that cost should be considered before making assumptions about cash flow.

Prioritizing repairs can help investors avoid spending money on cosmetic improvements before the underlying property is stabilized.

A Practical Opportunity for the Right Buyer

The $49,900 price, three-bedroom layout, single-level design, brick exterior, large kitchen, dedicated laundry area, and public utilities create a practical starting point for a renovation project.

The property is not being marketed as a turnkey home.

Instead, it is positioned as a property with potential for buyers willing to add their own personal touches.

That makes the property particularly relevant to people who understand renovation or are prepared to work with qualified contractors.

The buyer should also recognize that the seller will not provide a survey and expects the purchaser to verify all information.

Final Thoughts

This Hazel Crest, Illinois property offers an affordable entry point into a three-bedroom residential renovation project.

Priced at $49,900, the one-story home contains approximately 1,078 square feet of living space and sits on a 5,400-square-foot lot. Built in 1913, it features a traditional brick exterior, three main-level bedrooms, one full bathroom, a large 255-square-foot kitchen, a 208-square-foot living room, a 108-square-foot laundry area, natural gas heating, public water, public sewer, and a crawl-space foundation.

The property’s single-level layout may appeal to buyers seeking convenient living without multiple interior floors. Investors may also find the three-bedroom configuration worth investigating as a potential rental or renovation project.

At the same time, the property is being sold as-is, where-is, and the seller will not provide a survey. Buyers are specifically responsible for verifying property information.

The reported annual property taxes of approximately $4,785 should also be incorporated into any ownership or rental calculation. For an investor, taxes can have a meaningful impact on long-term cash flow.

The home’s age means that professional inspection should be considered an essential part of the purchasing process. Roof condition, masonry, plumbing, electrical systems, heating, crawl-space conditions, drainage, and structural components should all be evaluated.

For someone searching for a lower-priced home in Hazel Crest that can be customized, renovated, or potentially repositioned as an investment property, this listing offers several features worth investigating.

Its future potential will depend on the actual condition of the structure, renovation costs, local market conditions, zoning and property requirements, taxes, and the buyer’s intended strategy.

The opportunity is therefore best approached with a realistic budget, professional inspections, verified property information, and a clear understanding of the total cost of ownership.

 

 

Listed on Zillow.