418 Hamrick Ave · Romeoville, IL 60446

$240,000

4 bd · 1.0 ba · 1,800 sqft · SingleFamily public records · 20 Days on market

Built 1968 7,232 sqft lot $133/sqft · 24% below area Est $315k · 24% under

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Why this score? — see what drove the B 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 +26.9/30.0
• ARV discount +15.0/15.0
• DSCR +9.3/10.0
• 1% rule +7.1/10.0
• Rent growth +4.3/5.0
• Livability +3.7/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0
• Appreciation +0.0/10.0

Listing remarks

Spacious 4-bedroom, 2-bath raised ranch offering great potential for investors, rehabbers, or buyers looking to build equity. This home features a functional layout with generous room sizes. There is a 2 car detached garage and fenced yard, perfect for outdoor space and future improvements. Roof replaced in 2020. Property requires significant renovations and is being conveyed as-is. Bring your ideas and vision to transform this home into something special! MULTIPLE OFFERS RECEIVED. HIGHEST AND BEST BY 5PM ON SUNDAY, 5/17.

Key facts

• 7,232 sq ft lot
• 2 garage spots
• Built 1968

Property features AI

Finance

• Other: School bus service available
• HOA & community: No master association fee required

Exterior

• Parking: Detached garage with 2 garage spaces; Garage door opener; Concrete driveway/parking; Total 2 parking spaces
• Utilities: Public water; Public sewer; Electric with circuit breakers
• Home design: Detached single-family home; Raised ranch / bi-level design; Fee simple ownership; Built 51–60 years ago; Home was built before 1978
• Construction: Vinyl siding; Asphalt roof; Concrete perimeter foundation
• Exterior features: Patio; Fenced yard; Curbs, sidewalks, street lights, and paved streets

Interior

• Kitchen: Kitchen with eating area/table space; Dishwasher
• Bedrooms: 4 bedrooms (master bedroom on main level; additional bedrooms on main and lower levels)
• Flooring: Laminate flooring; Wood laminate in kitchen and living room; Tile in several bedrooms and family room; Other flooring in some lower-level rooms
• Bathrooms: 2 full bathrooms
• Heating & cooling: Natural gas forced-air heating; Central air conditioning
• Interior features: First-floor bedroom; First-floor full bathroom; Window screens; Total of 8 rooms
• Laundry & utility: Laundry room

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $240k.

Deal economics

• At list price, monthly cash flow is $667 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $240k).
• Recommended offer: $236k (1.5% below list) — sets the bar for market timing.
• Cap rate 9.6% vs local median 4.5% in Romeoville — 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 74/100 on livability (#266 in IL, #4,960 nationally) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, crime A; Watch: commute D, amenities F, health & safety F.
• Valley View CUSD 365U (suburban): math 21% / reading 28% proficiency, ranked #289 of 620 in IL (top 47%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Irene King Elem School (math 12% / reading 17%, grade F, #1,278 of 2,056 statewide, top 65%, 509 students, 0% FRL); A Vito Martinez Middle School (math 21% / reading 34%, grade F, #295 of 665 statewide, top 45%, 638 students, 0% FRL); Romeoville High School (math 21% / reading 29%, grade F, #247 of 693 statewide, top 36%, 1,922 students, 0% FRL) — zoned schools average 0% FRL vs 51% district-wide (51 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: Rents rising fast (+7.2%/yr); 65 active listings in the ZIP; 1 comparable units currently listed for rent nearby; solid renter incomes; 2,028 units permitted in Will County in 2024 (530 in 5+ unit buildings).
• This rent runs 33% of the median local income ($106k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k 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.
• At projected returns (-3.0% appreciation + 7.2% rent growth), your $67k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 20 days — a 2% lower offer ($236k) is reasonable based on typical stale-listing flexibility.

Recommended offer $236,400 (1.5% below list)

Questions for the listing agent

1. Built in 1968 — 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 D-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. 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: 1.21% ✓
• Cap rate: 9.63%
• Cash-on-cash: 11.92%
• DSCR: 1.53
• GRM: 6.9

CMA / ARV

• ARV (median comp): $315,402
• List price: $240,000
• Delta: -23.91%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
418 Hamrick Ave	0.00mi	4/2.0	1,800 (0%)	0mo	$252,000	$140	96
420 Healy Ave	0.10mi	4/2.0	1,800 (0%)	0mo	$335,000	$186	91
209 Nippert Ave	0.22mi	4/1.5	1,800 (0%)	1mo	$335,000	$186	87
205 Fremont Ave	0.27mi	4/2.0	1,800 (0%)	2mo	$330,000	$183	82
300 Hickory Ave	0.21mi	4/2.0	1,753 (-3%)	2mo	$290,000	$165	80
370 Dartmoor Ave	0.34mi	5/2.5 (+1)	1,800 (0%)	1mo	$367,000	$204	72
327 Emery Ave	0.37mi	5/2.0 (+1)	1,850 (+3%)	1mo	$340,000	$184	68
222 Pell Ave	0.42mi	4/2.0	1,650 (-8%)	1mo	$340,000	$206	62
811 Oakton Ave	0.48mi	4/2.0	1,964 (+9%)	0mo	$308,500	$157	58
311 Emery Ave	0.27mi	3/1.5 (-1)	1,550 (-14%)	1mo	$310,000	$200	57
615 Driftwood Ave	0.69mi	4/2.0	1,882 (+5%)	1mo	$410,000	$218	55
700 Evergreen Ct	0.52mi	4/2.0	1,632 (-9%)	5mo	$340,000	$208	52

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 · 7.16% rent growth · sell at horizon

5-year hold

• IRR: 6.0%
• Equity multiple: 1.24×
• Total profit: $16,346
• Equity at exit: $35,785

10-year hold

• IRR: 18.8%
• Equity multiple: 2.87×
• Total profit: $125,908
• Equity at exit: $20,751

Cash invested: $67,200 (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 60446

• Rents YoY: 7.2%
• Active inventory: 65
• Price-to-rent: 6.9×

Monthly cashflow live

• Estimated rent: $2,915 medium
• Mortgage (P&I): −$1,259
• Tax from tax record: −$277 /mo · $3,320/yr
• Insurance: −$100
• HOA: −$0
• Vacancy / Maint / Mgmt: −$612
• Net cashflow: $667

Break-even live

Break-even rent $2,070

Max offer price $240,000

Occupancy floor 72%

Sensitivity live

Price	-10% $803	-5% $735	+0% $667	+5% $599	+10% $531
Rent	-10% $437	-5% $552	+0% $667	+5% $782	+10% $897
Rate	-1.0pp $788	-0.5pp $728	base $667	+0.5pp $605	+1.0pp $542

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: $60,000
• Closing costs: $7,200
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
344 Emery Ave Romeoville, IL	4.0	1.0	1368	$2,750	$2.01	11d	1	0.45mi

Listing history 4 events

1. 2026-06-02
   statusdays on market $240,000 Pending 20 DOM
2. 2026-06-01
   days on market $240,000 Contingent - Continue to Show 19 DOM
3. 2026-05-31
   days on market $240,000 Contingent - Continue to Show 18 DOM
4. 2026-05-13
   listed $240,000 Active 528-char remark

ⓘ 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: $3,320 · $277/mo
• Projected year-2 tax: $4,384 · $365/mo
• Expected delta: +$1,064/yr (+$89/mo · 32.1%)

ⓘ 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 ≥104°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 0% 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: $34,974
• − Mortgage interest: −$13,444
• − Property taxes: −$3,320
• − Insurance: −$1,200
• − Repairs & maintenance: −$2,798
• − Management: −$2,798
• − Depreciation: −$6,982
• Taxable income: $4,433
• Est. tax owed @ 24.0%: −$1,064
• After-tax cash flow: $6,943/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: Valley View CUSD 365U
• NCES district ID: 1740070
• Math proficiency: 21% ▼ -15.00%
• Reading proficiency: 28% ▼ -10.00%
• Median HH income: $69,424
• Composite: 23.48/100
• National rank: #7875
• State rank: #289 of 620 in IL

Livability — Romeoville

• Score: 74/100
• State rank: #266
• US rank: #4960

Category grades

Amenities F Commute D Cost of living B 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: Romeoville, IL
• County: Will County · 412,448 people
• City population: 41,672
• Metro: Chicago-Naperville-Elgin, IL-IN-WI
• Population (ZIP): 41,672
• Household income: $106,258
• Rent vs Own: 19.1% rent · 80.9% own
• Severe rent burden: 699.0

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: Diverse neighborhood (Simpson 0.67)
• Race & ethnicity: White 44% Hispanic / Latino 35% Two or more races 16% Black 12% Asian 6%
• Hispanic origin (detail): Mexican 32% Puerto Rican 1%
• Common ancestry: Romanian 9% Italian 1% Lithuanian 1%
• Foreign-born: 20% · Canada
• Languages at home: 62% English-only · Spanish 26% Russian/Polish/Slavic 4% Other Indo-European 2%

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: ▼ -234.09%
• Current HPI: 217.5048
• Rent YoY: ▲ 7.16%
• Metro: Chicago-Naperville-Elgin, IL-IN-WI
• 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

+5.0% since first listed

4 events — show timeline

• 2026-06-09 Sold (MLS) $252,000 MRED as Distributed by MLS Grid
• 2026-06-02 Pending — MRED as Distributed by MLS Grid
• 2026-05-19 Contingent — MRED as Distributed by MLS Grid
• 2026-05-13 Listed $240,000 MRED as Distributed by MLS Grid

Property tax history

-1.3%/yr

Latest (2024): $3,320 · -4.8% YoY. Source: county tax records.