1668 Homewood Ave · Jerome, IL 62704

$130,000

3 bd · 2.0 ba · 1,535 sqft · SingleFamily · 1 Days on market

Built 1956 0.25 ac lot Est $186k · 30% under

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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 +21.6/30.0
• ARV discount +15.0/15.0
• DSCR +6.9/10.0
• 1% rule +6.2/10.0
• Livability +4.7/5.0
• Rent growth +4.1/5.0
• Condition / age +2.5/5.0
• Schools +1.7/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

There is a lot to like in this home located on a quiet street in the heart of Jerome. Updated kitchen opens into dining/family room with laminate floors and built in cabinetry. Lg. master with double closets. Exterior freshly painted with new gutters. mostly new windows. Roof 2010, AC 2010, Furn. 2013.

Key facts

• Renovated full bath
• Welcoming deck
• Abundant cabinetry

Tags

• WELCOMING DECK
• ORIGINAL HARDWOOD FLOORS
• RENOVATED FULL BATH
• ABUNDANT CABINETRY
• BREAKFAST BAR
• OPEN CONCEPT LAYOUT

Property features AI

Finance

• Other: Subdivision: Jerome; Located in Springfield area

Exterior

• Parking: Gravel parking (no garage spaces)
• Utilities: Public water; Public sewer
• Home design: Single family residence; Built in 1956; Approximately 1,535 total building area
• Construction: Shingle roof
• Exterior features: Shed(s); Replacement windows; Paved road access; Lot dimensions approximately 60 x 180

Interior

• Kitchen: Kitchen on main level (laminate flooring)
• Bedrooms: 3 bedrooms (rooms located on main, upper, lower, basement and additional levels as noted); Primary bedroom on main level with egress window (approx. 16.06 x 15.06, vinyl flooring); Bedroom 2 on main level with egress window (approx. 9.03 x 11.04, hardwood flooring); Bedroom 3 on main level with egress window (approx. 9.05 x 11.05, hardwood flooring)
• Flooring: Hardwood; Vinyl; Laminate; Other
• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating; Central air conditioning; High-efficiency heating
• Interior features: Attic storage; Ceiling fan(s); Radon mitigation system; High speed internet; Has basement (crawl space, partial, unfinished)
• Laundry & utility: Laundry room in basement (other flooring)

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $130k.

Deal economics

• At list price, monthly cash flow is $197 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $130k).

Location & tenants

• Location reads 93/100 on livability (#1 in IL, #17 nationally) — a professional / high-income tenant draw. Strengths: crime A+, amenities A+, commute A+; Watch: employment C-.
• Springfield SD 186 (urban): math 17% / reading 22% proficiency, ranked #438 of 620 in IL (top 71%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 64% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Lindsay School (math 17% / reading 22%, grade F, #1,054 of 2,056 statewide, top 54%, 423 students, 0% FRL); Benjamin Franklin Middle School (math 23% / reading 31%, grade F, #302 of 665 statewide, top 47%, 713 students, 0% FRL); Springfield Southeast High Sch (math 17% / reading 22%, grade F, #397 of 693 statewide, top 61%, 1,261 students, 0% FRL) — zoned schools average 0% FRL vs 64% district-wide (64 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: Rents rising fast (+6.3%/yr); 183 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); 225 units permitted in Sangamon County in 2024 (48 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $899 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Sangamon County population projected to shrink 9% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 6.3% rent growth), your $36k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 10y 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 $90k; 45% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1956 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $130,000

Questions for the listing agent

1. Built in 1956 — 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: 1.12% ✓
• Cap rate: 8.11%
• Cash-on-cash: 6.49%
• DSCR: 1.29
• GRM: 7.4

CMA / ARV

• ARV (on-the-fly): $185,735
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1668 Homewood Ave	0.00mi	3/2.0	1,535 (0%)	1mo	$141,000	$92	99
1510 W Glenn Ave	0.29mi	3/2.0	1,562 (+2%)	1mo	$316,500	$203	82
2732 S Welch Ave	0.12mi	3/1.0	1,677 (+9%)	2mo	$165,000	$98	73
2817 S Park Ave	0.49mi	3/1.5	1,598 (+4%)	1mo	$182,500	$114	68
2905 Park Ave	0.49mi	2/1.0 (-1)	1,590 (+4%)	4mo	$165,000	$104	58
20 Longbow Ln	0.55mi	3/1.5	1,459 (-5%)	7mo	$200,000	$137	58
2612 Arlington Dr	0.71mi	3/2.0	1,466 (-4%)	4mo	$230,000	$157	56
2805 Arlington Dr	0.72mi	3/2.0	1,454 (-5%)	7mo	$175,500	$121	52
58 Andover Dr	0.62mi	3/2.0	1,680 (+9%)	7mo	$219,900	$131	50
1101 W Maple Avenue South	0.68mi	4/2.5 (+1)	1,733 (+13%)	1mo	$210,000	$121	39
56 Archer Ave	0.62mi	3/1.0	1,760 (+15%)	6mo	$200,000	$114	38
1101 W Maple Avenue South	0.68mi	4/2.5 (+1)	1,733 (+13%)	5mo	$157,000	$91	35

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 6.32% rent growth · sell at horizon

5-year hold

• IRR: -2.4%
• Equity multiple: 0.91×
• Total profit: $-3,453
• Equity at exit: $19,383

10-year hold

• IRR: 10.8%
• Equity multiple: 1.97×
• Total profit: $35,441
• Equity at exit: $11,240

Cash invested: $36,400 (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 62704

• Home prices YoY: -31.1%
• Rents YoY: 6.3%
• Active inventory: 183
• Price-to-rent: 7.4×

Monthly cashflow live

• Estimated rent: $1,456 medium
• Mortgage (P&I): −$682
• Tax from tax record: −$218 /mo · $2,615/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$306
• Net cashflow: $197

Break-even live

Break-even rent $1,207

Max offer price $130,000

Occupancy floor 81%

Sensitivity live

Price	-10% $270	-5% $234	+0% $197	+5% $160	+10% $123
Rent	-10% $82	-5% $139	+0% $197	+5% $254	+10% $312
Rate	-1.0pp $262	-0.5pp $230	base $197	+0.5pp $163	+1.0pp $129

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: $32,500
• Closing costs: $3,900
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1729 W Iles Ave Springfield, IL	3.0	1.0	1162	$1,500	$1.29	22d	1	0.22mi
1666 Seven Pines Rd Springfield, IL	1.0–4.0	1.0–1.5	1025	$1,383	$1.35	22d	1	0.56mi
9 Candlelight Dr Springfield, IL	1.0–3.0	1.0–2.0	980	$1,535	$1.57	22d	20	0.70mi
2300 Lombard Ave Unit 2300 Lombard Springfield, IL	2.0	1.0	1100	$1,350	$1.23	22d	1	0.83mi

Listing history 5 events

1. 2026-05-14
   status Pending
2. 2026-05-14
   listed $130,000 Active
3. 2016-07-08
   soldstatus $89,900
4. 2016-07-01
   soldstatus $89,900 303-char remark

   Show marketing remark (303 chars)

   There is a lot to like in this home located on a quiet street in the heart of Jerome. Updated kitchen opens into dining/family room with laminate floors and built in cabinetry. Lg. master with double closets. Exterior freshly painted with new gutters. mostly new windows. Roof 2010, AC 2010, Furn. 2013.

5. 2016-01-16
   listed $99,800 303-char remark

   Show marketing remark (303 chars)

   There is a lot to like in this home located on a quiet street in the heart of Jerome. Updated kitchen opens into dining/family room with laminate floors and built in cabinetry. Lg. master with double closets. Exterior freshly painted with new gutters. mostly new windows. Roof 2010, AC 2010, Furn. 2013.

ⓘ 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: $2,615 · $218/mo
• Projected year-2 tax: $2,783 · $232/mo
• Expected delta: +$168/yr (+$14/mo · 6.4%)

ⓘ 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 4/10 Moderate 7 d/yr ≥105°F today · 20 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,477
• − Mortgage interest: −$7,282
• − Property taxes: −$2,615
• − Insurance: −$650
• − Repairs & maintenance: −$1,398
• − Management: −$1,398
• − Depreciation: −$3,782
• Taxable income: $352
• Est. tax owed @ 24.0%: −$84
• After-tax cash flow: $2,276/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: Springfield SD 186
• NCES district ID: 1737080
• Math proficiency: 17% ▼ -7.00%
• Reading proficiency: 22% ▼ -5.00%
• Median HH income: $43,744
• Composite: 16.89/100
• National rank: #9142
• State rank: #438 of 620 in IL

Livability — Jerome

• Score: 93/100
• State rank: #1
• US rank: #17

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Jerome, IL
• County: Sangamon County · 115,414 people
• Metro: Springfield, IL
• Population (ZIP): 40,046
• Household income: $69,976
• Rent vs Own: 38.0% rent · 62.0% own
• Severe rent burden: 1529.0

Population outlook (Sangamon County) Hauer SSP2

• Today (2025): 198,317 people
• By 2030: 196,127 · -1.1%
• By 2040: 188,664 · -4.9%
• By 2050: 179,624 · -9.4%
• By 2075: 155,027 · -21.8%
• By 2100: 122,588 · -38.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (74%)
• Race & ethnicity: White 74% Black 15% Two or more races 5% Hispanic / Latino 4% Asian 4%
• Common ancestry: Lithuanian 2% Romanian 2% Slovak 2%
• Foreign-born: 6% · Canada, China, Vietnam
• Languages at home: 92% English-only · Spanish 2% Other Indo-European 1% Tagalog/Filipino 1%

Political lean MEDSL · Sangamon

• 2024 margin: Toss-up / Even · D 46.6% · R 51.6% · Other 1.8%
• 2008→2024 swing: -9.3pp toward R · 2008: 4.4pp · 2024: -5.0pp
• All cycles: 2024: R+5.0 2020: R+4.4 2016: R+9.4 2012: R+8.7 2008: D+4.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -70.79%
• Current HPI: 156.7086
• Rent YoY: ▲ 6.32%
• Metro: Springfield, IL
• 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

+30.3% since first listed

5 events — show timeline

• 2026-05-14 Pending — RMLSA as Distributed by MLS Grid
• 2026-05-14 Listed $130,000 RMLSA as Distributed by MLS Grid
• 2016-07-08 Sold (Public Records) $89,900 Public Records
• 2016-07-01 Sold (MLS) $89,900 RMLSA as Distributed by MLS Grid
• 2016-01-16 Listed $99,800 RMLSA as Distributed by MLS Grid

Property tax history

+5.7%/yr

Latest (2024): $2,615 · +3.6% YoY. Source: county tax records.