15229 Honore Ave · Harvey, IL 60426

$209,000

3 bd · 1.0 ba · 900 sqft · SingleFamily public records · 17 Days on market

Built 1955 3,123 sqft 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 +15.5/30.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• DSCR +4.8/10.0
• 1% rule +3.9/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +0.7/10.0

Listing remarks

THIS 3-BEDROOM BRICK RANCH HAS BEEN TOTALLY REMODELED FEATURING OPEN CONCEPT IN LARGE LIVING ROOM WHICH HAS VAULTED CEILINGS, RECESSED LIGHTING, OAK FLOORING THROUGHOUT. CABINET KITCHEN WITH QUARTZ COUNTERTOPS, STAINLESS STEEL APPLIANCES. SEMI-FINISHED BASEMENT WITH NEW FULL BATH. NEW WINDOWS THROUGHOUT, NEW GAS FORCED AIR FURNACE AND CENTRAL AIR, SUMP PUMP AND EJECTOR PUMP. ROOF ON HOUSE AND GARAGE APPROXIMATELY 2-YEARS OLD. NEW ENTRY STEEL DOORS / SCREEN DOORS FRONT AND BACK. 2-CAR GARAGE HAS NEW SIDING, OVERHEAD DOOR AND GARAGE DOOR OPENER. CARPORT FOR ADDITIONAL PARKING. NEW SOD THROUGHOUT. EXTERIOR HAS BEEN RECENTLY TUCKPOINTED ALL AROUND. NOTHING TO DO HERE BUT MOVE IN. MAKE YOUR APPO

Key facts

• Oak flooring
• Open concept
• Cabinet kitchen

Tags

• OPEN CONCEPT
• LARGE LIVING ROOM
• VAULTED CEILINGS
• RECESSED LIGHTING
• OAK FLOORING
• CABINET KITCHEN

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $209k.

Deal economics

• At list price, monthly cash flow is $86 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $186k (11.0% below list).
• Recommended offer: $186k (11.0% below list) — sets the bar for 1% rule.
• Cap rate 6.8% vs local median 9.3% in Harvey — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

Location & tenants

• Location reads 67/100 on livability (#539 in IL) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A-; Watch: health & safety D+, crime F, amenities F.
• Thornton Twp Hsd 205 (suburban): math 7% / reading 8% proficiency, ranked #594 of 620 in IL (top 96%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Rosa L Parks Middle School (319 students, 0% FRL); Thornton Township High School (math 7% / reading 7%, grade F, #605 of 693 statewide, top 87%, 1,628 students, 0% FRL).
• Market conditions: 133 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 6,272 units permitted in Cook County in 2024 (4,658 in 5+ unit buildings).

Forward outlook

• In year one you build about $22k of equity ($1k loan paydown + $21k appreciation (10.0% local appreciation)).
• At projected returns (10.0% appreciation + 3.0% rent growth), your $59k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$36k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 17 days — a 2% lower offer ($206k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 19y ago; this cycle's ask is 74% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $49k; list at $209k implies a 327% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1955 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $185,920 (11.0% below list)

Questions for the listing agent

1. Built in 1955 — 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 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?
4. Crime grade is F 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?
5. 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.
6. 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.
7. 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: 0.89% ✗
• Cap rate: 6.79%
• Cash-on-cash: 1.76%
• DSCR: 1.08
• GRM: 9.4

CMA / ARV

• ARV (on-the-fly): $92,700
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
15133 S Honore Ave	0.12mi	3/1.0	900 (0%)	1mo	$149,900	$167	94
15125 Marshfield Ave S	0.28mi	3/1.0	900 (0%)	3mo	$127,500	$142	84
14921 Lincoln Ave	0.40mi	3/1.0	900 (0%)	6mo	$149,900	$167	76
14911 Page Ave	0.44mi	3/1.5	923 (+3%)	2mo	$110,000	$119	72
189 W 156th Pl	0.55mi	3/1.0	900 (0%)	3mo	$37,000	$41	72
110 W 150th St	0.31mi	3/1.0	1,008 (+12%)	0mo	$101,250	$100	65
15240 Turlington Ave	0.71mi	3/1.5	900 (0%)	2mo	$35,000	$39	64
14727 Wood St	0.64mi	3/1.5	900 (0%)	6mo	$60,000	$67	63
15427 Winchester Ave	0.27mi	3/1.0	1,020 (+13%)	6mo	$105,000	$103	60
14839 Cooper Ave	0.61mi	3/1.0	992 (+10%)	7mo	$42,000	$42	49
15734 Marshfield Ave	0.68mi	3/1.0	793 (-12%)	3mo	$49,000	$62	46
106 W 157th St	0.57mi	4/1.0 (+1)	1,012 (+12%)	5mo	$145,500	$144	44

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: 25.5%
• Equity multiple: 3.04×
• Total profit: $119,288
• Equity at exit: $188,284

10-year hold

• IRR: 22.5%
• Equity multiple: 6.93×
• Total profit: $346,963
• Equity at exit: $406,041

Cash invested: $58,520 (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 60426

• Home prices YoY: 6.9%
• Active inventory: 133
• Price-to-rent: 9.4×

Monthly cashflow live

• Estimated rent: $1,859 medium
• Mortgage (P&I): −$1,096
• Tax from tax record: −$200 /mo · $2,397/yr
• Insurance: −$87
• HOA: −$0
• Vacancy / Maint / Mgmt: −$390
• Net cashflow: $86

Break-even live

Break-even rent $1,750

Max offer price $209,000

Occupancy floor 90%

Sensitivity live

Price	-10% $204	-5% $145	+0% $86	+5% $27	+10% $-32
Rent	-10% $-61	-5% $12	+0% $86	+5% $159	+10% $233
Rate	-1.0pp $191	-0.5pp $139	base $86	+0.5pp $32	+1.0pp $-23

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: $52,250
• Closing costs: $6,270
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
14629 Hoyne Ave Dixmoor, IL	3.0	1.0	920	$1,495	$1.62	26d	1	0.84mi
16125 Marshfield Ave Markham, IL	3.0	1.0	1043	$2,400	$2.30	0d	1	1.10mi

Listing history 31 events

1. 2026-06-21
   days on market $209,000 Active 17 DOM
2. 2026-06-18
   days on market $209,000 Active 14 DOM
3. 2026-06-17
   days on market $209,000 Active 13 DOM
4. 2026-06-16
   days on market $209,000 Active 12 DOM
5. 2026-06-15
   days on market $209,000 Active 11 DOM
6. 2026-06-13
   days on market $209,000 Active 9 DOM
7. 2026-06-13
   days on market $209,000 Active 8 DOM
8. 2026-06-09
   days on market $209,000 Active 5 DOM
9. 2026-06-08
   days on market $209,000 Active 4 DOM
10. 2026-06-07
    pricedays on marketlisting id $209,000 Active 3 DOM
11. 2026-06-04
    days on market $218,500 Active 4 DOM
12. 2026-06-03
    days on market $218,500 Active 3 DOM
13. 2026-06-02
    days on market $218,500 Active 2 DOM
14. 2026-06-01
    remarks 699-char remark
15. 2026-06-01
    pricedays on marketlisting id $218,500 Active 1 DOM
16. 2026-05-31
    days on market $219,000 Active 37 DOM
17. 2026-04-26
    price $219,000
18. 2026-04-24
    listed $119,900 Active
19. 2026-04-24
    historical
20. 2026-03-08
    listed Active
21. 2023-06-15
    historical Contingent - No Showings
22. 2023-06-14
    historical
23. 2023-06-14
    listed Active
24. 2023-04-17
    historical Contingent - No Showings
25. 2023-04-16
    historical
26. 2023-04-16
    listed Active
27. 2017-10-25
    historical
28. 2013-09-16
    listed New
29. 2008-02-03
    historical
30. 2007-08-25
    listed
31. 1986-11-21
    soldstatus $49,000

ⓘ 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: $2,397 · $200/mo
• Projected year-2 tax: $3,571 · $298/mo
• Expected delta: +$1,174/yr (+$98/mo · 49.0%)

ⓘ 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 ≥102°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: $22,310
• − Mortgage interest: −$11,707
• − Property taxes: −$2,397
• − Insurance: −$1,045
• − Repairs & maintenance: −$1,785
• − Management: −$1,785
• − Depreciation: −$6,080
• Taxable loss: −$2,489
• Est. tax savings @ 24.0%: +$597
• After-tax cash flow: $1,628/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: Thornton Twp Hsd 205
• NCES district ID: 1738970
• Math proficiency: 7% ▬ 0.00%
• Reading proficiency: 8% ▼ -2.00%
• Median HH income: $43,392
• Composite: 6.92/100
• National rank: #9976
• State rank: #594 of 620 in IL

Livability — Harvey

• Score: 67/100
• State rank: #539
• US rank: #11162

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Harvey, IL
• City population: 23,066
• Population (ZIP): 23,066

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: Majority Black (59%)
• Race & ethnicity: Black 59% Hispanic / Latino 33% Two or more races 12% White 3% Asian 2%
• Hispanic origin (detail): Mexican 31%
• Foreign-born: 17% · Canada
• Languages at home: 67% English-only · Spanish 30% Other Indo-European 2% French/Haitian/Cajun 1%

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: ▲ 20.36%
• Current HPI: 313.7895
• 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

+346.9% since first listed

15 events — show timeline

• 2026-04-26 Price Changed $219,000 MRED as Distributed by MLS Grid
• 2026-04-24 Listing Removed — MRED as Distributed by MLS Grid
• 2026-04-24 Listed $119,900 MRED as Distributed by MLS Grid
• 2026-03-08 Listed — MRED as Distributed by MLS Grid
• 2023-06-15 Contingent — MRED as Distributed by MLS Grid
• 2023-06-14 Listed — MRED as Distributed by MLS Grid
• 2023-06-14 Listing Removed — MRED as Distributed by MLS Grid
• 2023-04-17 Contingent — MRED as Distributed by MLS Grid
• 2023-04-16 Listed — MRED as Distributed by MLS Grid
• 2023-04-16 Listing Removed — MRED as Distributed by MLS Grid
• 2017-10-25 Listing Removed — MRED as Distributed by MLS Grid
• 2013-09-16 Listed — MRED as Distributed by MLS Grid
• 2008-02-03 Listing Removed — MRED as Distributed by MLS Grid
• 2007-08-25 Listed — MRED as Distributed by MLS Grid
• 1986-11-21 Sold (Public Records) $49,000 Public Records

Property tax history

+2.2%/yr

Latest (2023): $2,397 · +21.7% YoY. Source: county tax records.