Home Highlights
Multi-Family
Built in 1910
4 Parking Spaces
Local Information
- Map ViewExplore the area around 341 S 5th Ave.
- Schools1 Elementary School1 Middle School1 High School
- Shop & Eat
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About this House
Excellent investment opportunity! This well-maintained two-unit property offers a great combination of stable rental income, recent improvements, and long-term investment potential. Whether you are an experienced investor looking to expand your portfolio or a first-time investor searching for a property with immediate cash flow, this is an opportunity worth considering. Both units are currently rented, allowing the new owner to begin collecting rental income from day one. The second-floor unit has been occupied by a long-term tenant for over 15 years, providing an impressive history of stability and consistent occupancy. The first-floor unit has been recently updated and is now occupied by a new tenant, offering a fresh rental start while benefiting from the property's recent improvements. The property has been well cared for and maintained, with several important mechanical and electrical updates already completed. Recent improvements include updated furnaces, electrical panels, and water heaters, helping provide peace of mind and reducing the likelihood of immediate major capital expenses. The recently updated first-floor unit adds additional appeal and value to the property, while the established long-term tenancy in the second-floor unit provides a strong rental history. Having both units occupied makes this property particularly attractive to investors seeking an income-producing asset without the uncertainty and expense of extended vacancy periods. This property offers an excellent opportunity to acquire a turnkey, income-producing two-unit building with established rental history, recent updates, and reliable occupancy. With both units currently leased and major systems already updated, this property is well positioned for continued rental income and long-term appreciation.
Last check for updates: about 18 hours ago
Listing courtesy of: Fawad Shahid, ABR,SFR, (708) 698-1009
Carnelian Realty Group
Source: MRED as distributed by MLS GRID, MLS#12740729
Also Listed on MRED as distributed by MLS GRID.
Home Details for 341 S 5th Ave
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MLS Status: Active |
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Interior Details Basement: Unfinished,FullNumber of Rooms: 3 |
Beds & Baths Number of Bedrooms: 3Number of Bathrooms: 2Number of Bathrooms (full): 2 |
Heating & Cooling Heating: Natural GasHas HeatingHeating Fuel: Natural Gas |
View No View |
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Exterior Home Features Roof: AsphaltPatio / Porch: DeckExterior: BalconyFoundation: Concrete Perimeter, Stone |
Parking & Garage No Attached GarageParking Spaces: 4Parking: Yes,Owned |
Frontage Not on Waterfront |
Water & Sewer Sewer: Public Sewer |
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Days on Market: 28 |
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Year Built Year Built: 1910Year Renovated: 2026 |
Property Type / Style Property Type: Residential IncomeProperty Subtype: Multi FamilyArchitecture: Traditional |
Building Construction Materials: Vinyl SidingNot a New ConstructionIs Habitable Residence |
Property Information Parcel Number: 161706214017 |
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Price List Price: $165,000 |
Status Change & Dates Possession Timing: Close Of Escrow |
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Direction & Address City: Kankakee |
School Information Elementary School District: 111Jr High / Middle School District: 111High School District: 111 |
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Listing Agent Listing ID: 12740729 |
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Lot Area: 7405.2 sqft |
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Special Conditions: Standard |
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Business Information Ownership: Fee Simple |
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BasementMls Number: 12740729 |
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Source Internet Consumer CommentSource Internet Entire Listing DisplayMRD IDX Comments Reviews: YesMRD Listing On IDX Display: YesMRD Address On VOW Display: YesMRD AVM On IDX Display: NoMRD Price History On IDX Display: YesMRD Market Time On IDX Display: YesSource Internet Address DisplayMRD REMARKSINTERNET: YesMRD Remarks On VOW Display: Yes |
Around this home
The GreatSchools Rating compares schools on a variety of school quality indicators including test scores, college readiness, equity and more. Learn more.
What Locals Say about Kankakee
At least 211 Trulia users voted on each feature.
85 % Say car is needed
80 % Say parking is easy
79 % Say yards are well-kept
75 % Say there are sidewalks
67 % Say it's dog friendly
64 % Say there's holiday spirit
60 % Say kids play outside
51 % Say neighbors are friendly
50 % Say it's quiet
46 % Say it's walkable to restaurants
44 % Say there's wildlife
44 % Say streets are well-lit
43 % Say they plan to stay for at least 5 years
40 % Say it's walkable to grocery stores
38 % Say people would walk alone at night
25 % Say there are community events
Sourced by Trulia users. Learn more about our methodology.
Market trends in Kankakee
Last updated August 2026
Avg. sale price
$185K
$25KMoM
Sale-to-List Price
—
Price per sq ft
—
Available listings
91
13MoM
Home Value
Trulia Estimate
$161KSince last month
Decreased$3K (-1.7%)Since last year
Increased$46K (+40.8%)Since last sale
Increased$55K (+52.6%)Learn more about this home's value by checking out its Trulia Estimate, the value of nearby homes, and how much similar homes have sold for.
Trulia Estimate
The of this home's value increased by +482% in the last 10 years
| Month | Estimated value |
|---|---|
2026 | |
| September 2026 | $160K |
| August 2026 | $163K |
| July 2026 | $109K |
| June 2026 | $109K |
| May 2026 | $108K |
| March 2026 | $107K |
| February 2026 | $107K |
| January 2026 | $106K |
2025 | |
2024 | |
2021 | |
2020 | |
2019 | |
2018 | |
2017 | |
2016 | |
Comparable sales
These are recently sold homes that have a similar location or other similar features to this home, like bedrooms, bathrooms, and square footage. Get a sense of the expected prices in the area by viewing these homes.Address | Distance | Property Type | Sold Price | Sold Date | Bed | Bath | Sqft |
|---|---|---|---|---|---|---|---|
0.15 | Multi-Family Home | $100,000 | 04/03/26 | 4 | 1 | - | |
0.15 | Multi-Family Home | $100,000 | 09/29/25 | 2 | 2 | - | |
0.45 | Multi-Family Home | $150,000 | 10/30/25 | 4 | 2 | - | |
0.24 | Multi-Family Home | $200,000 | 04/03/26 | 4 | 4 | - | |
0.59 | Multi-Family Home | $135,000 | 05/27/26 | 4 | 2 | - | |
0.25 | Multi-Family Home | $170,550 | 12/09/25 | 4 | 1 | - | |
0.29 | Multi-Family Home | $82,500 | 07/31/26 | 3 | 2 | - | |
0.80 | Multi-Family Home | $100,000 | 12/23/25 | 3 | 2 | - | |
0.35 | Multi-Family Home | $105,000 | 04/28/26 | 3 | 2 | - |
Nearby home prices
Get a sense of expected prices in the area by checking the value of nearby homes.Address | Distance | Price | Bed | Bath | Sqft | Status |
|---|---|---|---|---|---|---|
0.01 | $188,000 | 4 | 2 | 2,000 | Recently Sold | |
0.03 | $94,700 | 3 | 1 | 1,220 | Off Market | |
0.04 | $126,700 | 5 | 3.5 | - | Off Market | |
0.04 | $46,200 | 2 | 1 | 896 | Off Market | |
0.05 | $198,400 | 5 | 3 | 1,300 | Off Market | |
0.03 | $88,100 | 2 | 1 | 888 | Off Market | |
0.06 | $39,500 | 2 | 1 | 786 | Off Market | |
0.07 | $226,700 | 3 | 2 | 1,700 | Off Market | |
0.08 | $42,500 | 3 | 1 | 1,100 | Recently Sold | |
0.09 | $95,400 | 4 | 2 | - | Off Market | |
0.09 | $167,300 | 4 | 3 | - | Off Market |
Price and Tax history
| Date | Event | Price |
|---|---|---|
Aug 24, 2026 Source: MRED as distributed by MLS GRID #12740729 | Listed For Sale | $165,000 |
Nov 24, 2025 Source: MRED as distributed by MLS GRID #12384373 | Sold | $105,000 |
Nov 21, 2025 Source: MRED as distributed by MLS GRID #12384373 | Pending | $115,000 |
Oct 30, 2025 Source: MRED as distributed by MLS GRID #12384373 | Contingent | $115,000 |
Sep 5, 2025 Source: MRED as distributed by MLS GRID #12384373 | PriceChange | $115,000 Price decreased by 3% |
Aug 7, 2025 Source: MRED as distributed by MLS GRID #12384373 | PriceChange | $119,000 Price decreased by 5% |
Jul 16, 2025 Source: MRED as distributed by MLS GRID #12384373 | PriceChange | $125,000 Price decreased by 4% |
Jun 6, 2025 Source: MRED as distributed by MLS GRID #12384373 | Listed For Sale | $130,000 |
Nov 27, 2024 Source: MRED as distributed by MLS GRID #12185330 | Sold | $95,000 |
Oct 21, 2024 Source: MRED as distributed by MLS GRID #12185330 | Contingent | $95,000 |
Oct 17, 2024 Source: MRED as distributed by MLS GRID #12185330 | Listed For Sale | $95,000 |
| Year | Property tax | Tax assessment |
|---|---|---|
| 2024 | $3,034 | $76,983 |
Home facts updated by county records
LGBTQ Local Legal Protections
LGBTQ Local Legal Protections
Fawad Shahid, ABR,SFR, Carnelian Realty Group
Agent Phone: (708) 698-1009
Based on information submitted to the MLS GRID as of 2026. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Click here for more information
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Frequently asked questions about 341 S 5th Ave
- What is the estimated monthly payment for 341 S 5th Ave?Based on a $165,000 list price with 20% down at today's rates, the estimated monthly payment for 341 S 5th Ave in Kankakee, IL is approximately $1,282 (about $900 principal & interest, $307 property taxes, and $75 homeowner's insurance). This is an estimate. Actual payment depends on your loan terms.
- How does the list price for 341 S 5th Ave compare to homes in Kankakee?341 S 5th Ave in Kankakee, IL is listed at $165,000, about 11% below the $185K median sale price in Kankakee.
- What do residents say about Kankakee?Residents describe Kankakee, IL as easy to park in, well-kept, and pedestrian-friendly. See homes for sale in Kankakee, IL.
- What are the closest schools to 341 S 5th Ave?The closest schools to 341 S 5th Ave in Kankakee, IL are John Kennedy Middle Grade School (Elementary, rated 3/10), Kankakee High School (rated 4/10), Kankakee Junior High School (rated 4/10).
- Does 341 S 5th Ave have parking?Yes, 341 S 5th Ave in Kankakee, IL has on-site parking.
341 S 5th Ave, Kankakee, IL 60901 is a 3 bedroom, 2 bathroom multi-family built in 1910. This property is currently available for sale and was listed by MRED as distributed by MLS GRID on Aug 24, 2026. The MLS # for this home is MLS# 12740729.