1527 W Homewood Ave · Jerome, IL 62704-4849

$50,000

2 bd · 2.0 ba · 1,607 sqft · SingleFamily · 1 Days on market

10,800 sqft lot

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Appreciation +5.0/10.0
• Livability +4.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.7/10.0

Listing remarks

All brick ranch home on a crawl. Fenced yard, patio.

Key facts

• 0.25 acre lot
• 2 garage spots

Property features AI

Exterior

• Parking: Attached 2-car garage; Gravel parking
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Shingle roof
• Construction: Building area: 1607; Not new construction
• Exterior features: Fenced lot; Level lot; Paved road access

Interior

• Kitchen: Dishwasher
• Bedrooms: Two bedrooms (both on the main level) — primary approx. 15.03 x 11.09, second approx. 11.09 x 15.02; Egress windows in both bedrooms
• Flooring: Carpet in bedrooms, living room and family room; Vinyl in the kitchen
• Bathrooms: Two full bathrooms
• Heating & cooling: Hot water heating; Central air conditioning; Crawl space basement
• Interior features: Ceiling fan(s); Wood-burning fireplace in the family room

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $50k.

Deal economics

• At list price, monthly cash flow is $743 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $50k).

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: 1 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

• In year one you build about $2k of equity ($346 loan paydown + $2k appreciation (3.0% local appreciation)).
• 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 + 3.0% rent growth), your $14k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.

Recommended offer $50,000

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. 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.
4. 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.
5. 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: 2.76% ✓
• Cap rate: 24.12%
• Cash-on-cash: 63.67%
• DSCR: 3.83
• GRM: 3.0

CMA / ARV

• ARV (on-the-fly): $183,198
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1510 W Glenn Ave	0.08mi	3/2.0 (+1)	1,562 (-3%)	1mo	$316,500	$203	86
2817 S Park Ave	0.28mi	3/1.5 (+1)	1,598 (-1%)	1mo	$182,500	$114	78
2905 Park Ave	0.29mi	2/1.0	1,590 (-1%)	4mo	$165,000	$104	77
1668 Homewood Ave	0.22mi	3/2.0 (+1)	1,535 (-4%)	1mo	$141,000	$92	77
1534 W Jerome Ave	0.26mi	3/2.0 (+1)	1,596 (-1%)	9mo	$192,000	$120	74
1640 W Glenn Ave	0.17mi	2/1.0	1,706 (+6%)	9mo	$196,000	$115	70
2732 S Welch Ave	0.33mi	3/1.0 (+1)	1,677 (+4%)	2mo	$165,000	$98	67
1705 Reed Ave	0.26mi	2/2.0	1,800 (+12%)	2mo	$177,000	$98	66
1900 Brentwood Dr	0.48mi	3/2.0 (+1)	1,504 (-6%)	9mo	$142,000	$94	55
2425 S State St	0.72mi	3/1.5 (+1)	1,510 (-6%)	3mo	$170,000	$113	47
58 Andover Dr	0.75mi	3/2.0 (+1)	1,680 (+4%)	7mo	$219,900	$131	47
20 Longbow Ln	0.74mi	3/1.5 (+1)	1,459 (-9%)	7mo	$200,000	$137	37

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 68.5%
• Equity multiple: 4.81×
• Total profit: $53,354
• Equity at exit: $22,482

10-year hold

• IRR: 68.0%
• Equity multiple: 9.83×
• Total profit: $123,669
• Equity at exit: $34,648

Cash invested: $14,000 (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 62704-4849

• Active inventory: 1
• Price-to-rent: 3.0×

Monthly cashflow live

• Estimated rent: $1,378 medium
• Mortgage (P&I): −$262
• Tax est. 1.5%: −$62 /mo · $750/yr
• Insurance: −$21
• HOA: −$0
• Vacancy / Maint / Mgmt: −$289
• Net cashflow: $743

Break-even live

Break-even rent $437

Max offer price $50,000

Occupancy floor 41%

Sensitivity live

Price	-10% $777	-5% $760	+0% $743	+5% $726	+10% $708
Rent	-10% $634	-5% $688	+0% $743	+5% $797	+10% $852
Rate	-1.0pp $768	-0.5pp $756	base $743	+0.5pp $730	+1.0pp $717

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: $12,500
• Closing costs: $1,500
• 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	0.28mi
1666 Seven Pines Rd Springfield, IL	1.0–4.0	1.0–1.5	1025	$1,167	$1.14	22d	1	0.65mi
9 Candlelight Dr Springfield, IL	1.0–3.0	1.0–2.0	980	$1,256	$1.28	22d	20	0.81mi
2300 Lombard Ave Unit 2300 Lombard Springfield, IL	2.0	1.0	1100	$1,350	$1.23	22d	1	1.10mi

Listing history 2 events

1. 2026-06-15
   remarks 52-char remark
2. 2026-06-15
   listed $50,000 Pending 1 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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: $16,532
• − Mortgage interest: −$2,801
• − Property taxes: −$750
• − Insurance: −$250
• − Repairs & maintenance: −$1,323
• − Management: −$1,323
• − Depreciation: −$1,455
• Taxable income: $8,631
• Est. tax owed @ 24.0%: −$2,072
• After-tax cash flow: $6,842/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

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%

Not yet ingested

• Political lean: —
• Race & ethnicity: —
• Common origin: —
• Civics: —

Market trends

• HPI YoY: —
• Current HPI: —
• 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

2 events — show timeline

• 2026-06-15 Pending — RMLSA as Distributed by MLS Grid
• 2026-06-15 Listed $50,000 RMLSA as Distributed by MLS Grid

Property tax history

+3.8%/yr

Latest (2025): $3,211 · +5.1% YoY. Source: county tax records.