12309 Partridge Ln · Homer Glen, IL 60467

$507,763

5 bd · 2.5 ba · 2,576 sqft · Other public records · 2 Days on market

Built 1976 0.25 ac lot

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Why this score? — see what drove the C 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 +25.2/30.0
• DSCR +8.3/10.0
• ARV discount +7.5/15.0
• 1% rule +6.8/10.0
• Schools +3.4/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Huge home on a corner lot with a fenced in yard! This 5 bed/2.5 Bath has all the space you will need! Walk in and notice the openness right away. Main floor consists of oversized kitchen, formal dining and living room with vaulted ceilings. Laundry room is located off foyer on the main floor. Step down into the family room from the kitchen and enjoy large room for entertaining centered around the fireplace. 5th Bedroom or Office located off family room. Second floor has 4 oversized bedrooms! Master bedroom has updated full bathroom. Partial basement is unfinished and has great potential to finish! Loop driveway connects to both streets on the corner! Updates include: New Windows ('19), Roof ('11), Siding ('09), Furnace ('09).

Key facts

• Brick exterior
• Newer roof
• Newer windows

Tags

• BRICK EXTERIOR
• LUSH LANDSCAPING
• NEWER ROOF
• NEWER WINDOWS
• NEWER HVAC
• VAULTED CEILINGS

Property features AI

Finance

• Other: Property located in Homer Glen (Township: Homer); Lot dimensions roughly 65 x 140 x 80 x 125 x 24; Lot size approx. 0.25–0.49 acre
• HOA & community: No master association fee required; Community features include park, curbs, sidewalks, street lights, and paved streets; Subdivision: Pheasant Hollow

Exterior

• Parking: Attached garage (garage owned); 2 garage spaces; Driveway parking; Total parking for 6 vehicles; Concrete surfaces
• Utilities: Water source: Lake Michigan; Public sewer; Electric service with circuit breakers
• Home design: Detached single-family home; 2-story design; Owned fee-simple property; Built before 1978
• Construction: Vinyl siding and brick exterior; Asphalt roof; Concrete perimeter foundation; Estimated age: 41–50 years
• Exterior features: Deck; Patio; Corner lot; School bus service available; Interstate access nearby

Interior

• Kitchen: Range; Dishwasher; Refrigerator; Eating area / table space (kitchen approx. 13 x 14); Wood laminate flooring in kitchen
• Bedrooms: 5 bedrooms total; Master bedroom on second floor (12 x 16); Bedroom 2 on second floor (11 x 16); Bedroom 3 on second floor (12 x 12); Bedroom 4 on second floor (10 x 14); Bedroom 5 on main level (14 x 13)
• Flooring: Luxury vinyl flooring in many bedrooms and laundry; Wood laminate flooring in living areas and dining room; Laminate flooring listed generally
• Bathrooms: 2 full bathrooms; 1 half bathroom
• Heating & cooling: Natural gas heating; Central air conditioning
• Interior features: Walk-in closet(s); Screens on windows; Partially finished basement with crawl space; 9 total rooms; Gas-started fireplace in family room; Ceiling fan(s); Sump pump with backup
• Laundry & utility: Main-level laundry (in unit); Washer and dryer included; Laundry room approx. 8 x 6; Sump pump with backup

What this means for you Summary

Snapshot

• This is a 5-bed/2.5-bath other listed at $508k.

Deal economics

• At list price, monthly cash flow is $1k ($14k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($6k rent vs $508k).
• Cap rate 9.0% vs local median 2.4% in Homer Glen — 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 68/100 on livability (#449 in IL) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: cost of living D, amenities F, commute F.
• Lockport Twp Hsd 205 (suburban): math 35% / reading 38% proficiency, ranked #153 of 620 in IL (top 25%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Lockport Township High Sch East (math 35% / reading 38%, grade F, #117 of 693 statewide, top 17%, 3,872 students, 0% FRL).
• Market conditions: 119 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 2,028 units permitted in Will County in 2024 (530 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $4k of loan paydown is wiped out by about $15k of value loss. Plan a longer hold.
• Will County population projected to shrink 4% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 7y 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 $308k; list at $508k implies a 65% gain — meaningful room to come down on a strong offer.

Recommended offer $507,763

Questions for the listing agent

1. Built in 1976 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
4. 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.
5. 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.
6. 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: 1.18% ✓
• Cap rate: 8.97%
• Cash-on-cash: 9.56%
• DSCR: 1.43
• GRM: 7.1

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: -1.9%
• Equity multiple: 0.93×
• Total profit: $-10,011
• Equity at exit: $75,709

10-year hold

• IRR: 7.9%
• Equity multiple: 1.60×
• Total profit: $84,759
• Equity at exit: $43,902

Cash invested: $142,174 (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 60467

• Home prices YoY: -30.4%
• Active inventory: 119
• Price-to-rent: 7.1×

Monthly cashflow live

• Estimated rent: $6,000 medium
• Mortgage (P&I): −$2,663
• Tax from tax record: −$733 /mo · $8,800/yr
• Insurance: −$212
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,260
• Net cashflow: $1,132

Break-even live

Break-even rent $4,567

Max offer price $507,763

Occupancy floor 76%

Sensitivity live

Price	-10% $1,420	-5% $1,276	+0% $1,132	+5% $989	+10% $845
Rent	-10% $658	-5% $895	+0% $1,132	+5% $1,369	+10% $1,606
Rate	-1.0pp $1,388	-0.5pp $1,261	base $1,132	+0.5pp $1,001	+1.0pp $867

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: $126,941
• Closing costs: $15,233
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
14031 Preston Dr Orland Park, IL	4.0	3.5	3319	$6,000	$1.81	8d	1	0.86mi

Listing history 3 events

1. 2026-06-18
   days on market $507,763 Active 2 DOM
2. 2026-06-17
   remarks 699-char remark
3. 2026-06-17
   listed $507,763 Active 1 DOM

ⓘ 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: $8,800 · $733/mo
• Projected year-2 tax: $10,163 · $847/mo
• Expected delta: +$1,363/yr (+$114/mo · 15.5%)

ⓘ 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 2/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥102°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $72,000
• − Mortgage interest: −$28,443
• − Property taxes: −$8,800
• − Insurance: −$2,539
• − Repairs & maintenance: −$5,760
• − Management: −$5,760
• − Depreciation: −$14,771
• Taxable income: $5,927
• Est. tax owed @ 24.0%: −$1,422
• After-tax cash flow: $12,165/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: Lockport Twp Hsd 205
• NCES district ID: 1723350
• Math proficiency: 35% ▼ -5.00%
• Reading proficiency: 38% ▼ -4.00%
• Median HH income: $69,994
• Composite: 33.5/100
• National rank: #5440
• State rank: #153 of 620 in IL

Livability — Homer Glen

• Score: 68/100
• State rank: #449
• US rank: #9274

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Homer Glen, IL
• City population: 22,585
• Population (ZIP): 24,952

Population outlook (Will County) Hauer SSP2

• Today (2025): 705,368 people
• By 2030: 708,154 · +0.4%
• By 2040: 702,692 · -0.4%
• By 2050: 680,249 · -3.6%
• By 2075: 611,990 · -13.2%
• By 2100: 516,215 · -26.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (83%)
• Race & ethnicity: White 83% Hispanic / Latino 6% Asian 5% Two or more races 4% Black 4%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Romanian 15% Armenian 2% Iranian 2%
• Foreign-born: 14% · Canada, South Korea, China
• Languages at home: 78% English-only · Arabic 9% Russian/Polish/Slavic 4% Other Indo-European 4%

Political lean MEDSL · Will

• 2024 margin: Toss-up / Even · D 50.1% · R 48.5% · Other 1.4%
• 2008→2024 swing: -11.6pp toward R · 2008: 13.2pp · 2024: 1.6pp
• All cycles: 2024: D+1.6 2020: D+8.3 2016: D+5.7 2012: D+3.7 2008: D+13.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -82.13%
• Current HPI: 188.3676
• 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

+120.8% since first listed

7 events — show timeline

• 2026-06-16 Listed $507,763 MRED as Distributed by MLS Grid
• 2020-03-26 Sold (Public Records) $308,000 Public Records
• 2020-03-16 Sold (MLS) $310,000 MRED as Distributed by MLS Grid
• 2020-02-09 Contingent — MRED as Distributed by MLS Grid
• 2020-01-08 Price Changed $315,000 MRED as Distributed by MLS Grid
• 2019-11-13 Listed $322,000 MRED as Distributed by MLS Grid
• 2001-07-25 Sold (Public Records) $230,000 Public Records

Property tax history

+2.7%/yr

Latest (2024): $8,800 · -2.3% YoY. Source: county tax records.