18345 Pierce Ave · Homewood, IL 60430

$264,900

4 bd · 1.5 ba · 1,225 sqft · SingleFamily public records · 48 Days on market

Built 1964 7,875 sqft lot Est $251k · 5% over

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Why this score? — see what drove the D- 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 +12.4/30.0
• 1% rule +5.6/10.0
• ARV discount +5.0/15.0
• Livability +4.0/5.0
• DSCR +3.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.4/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

PLEASE HAVE ALL OFFERS IN BY FRIDAY APRIL 27TH AT NOON. Very well maintained 3 Bedroom and 2 Full bath Tri Level on a corner lot in Homewood. Hardwood floors under all carpet. Possible 4th bedroom on lower level could also be office or second family room area. Recent updates include a newer roof, siding, furnace and air conditioner, humidifier, garage door and flooring on the lower level. Concrete crawl space for additional storage. Close to all Home Sweet Homewood has to offer... Schools, Restaurants, Metra transportation, Expressways, Shopping and Award Winning Parks. This is an Estate Sale and the home is being sold As-Is. Senior Citizen Tax Exemption in 2020 was $1,163.12.

Key facts

• 7,875 sq ft lot
• 2 garage spots
• Built 1964

Property features AI

Finance

• Other: Not currently leased; School bus service and commuter transit access
• HOA & community: No master association fee required

Exterior

• Parking: Attached garage owned (2 garage spaces); Asphalt driveway; 2 total parking spaces
• Utilities: Water source: Lake Michigan; Public sewer; Electric service with circuit breakers
• Home design: Detached single-family home; Tri-level / split-level layout; Fee simple ownership
• Construction: Built 61–70 years ago; Vinyl siding and brick exterior; Asphalt roof; Built before 1978
• Exterior features: Curbs, sidewalks, street lights and paved streets

Interior

• Kitchen: Eating area / table space; Double oven; Cooktop; Refrigerator
• Bedrooms: 4 bedrooms (master on second level; additional bedrooms on second and lower levels)
• Flooring: Hardwood; Carpet in many main and second-level rooms; Vinyl in family room, kitchen and lower-level bedroom; Other flooring in lower-level laundry
• Bathrooms: 2 full bathrooms; Bathroom(s) in basement
• Heating & cooling: Natural gas heating; Central air conditioning
• Interior features: Separate dining room; L-shaped dining area; Finished partial basement; 8 total rooms
• Laundry & utility: Washer; Dryer; Lower-level laundry room

What this means for you Summary

Snapshot

• This is a 4-bed/1.5-bath single-family listed at $265k.

Deal economics

• At list price, monthly cash flow is $-45 ($-543/yr) — negative.
• To cash-flow at today's rent, offer at most $257k (3.0% below list).
• Meets the 1% rule at list price ($3k rent vs $265k).
• Recommended offer: $257k (3.0% below list) — sets the bar for cash-flow.

Location & tenants

• Location reads 81/100 on livability (#81 in IL, #1,314 nationally) — a professional / high-income tenant draw. Strengths: commute A+, employment A+, cost of living A+; Watch: amenities F.
• Homewood Flossmoor Chsd 233 (suburban): math 21% / reading 27% proficiency, ranked #272 of 620 in IL (top 44%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Homewood-Flossmoor High School (math 21% / reading 27%, grade F, #304 of 693 statewide, top 44%, 2,798 students, 0% FRL).
• Market conditions: 102 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 6,272 units permitted in Cook County in 2024 (4,658 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 48 days — a 3% lower offer ($257k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 4y ago; this cycle's ask has dropped $25k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: property tax is 3.4% of price.

Recommended offer $256,913 (3.0% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 48 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
3. Built in 1964 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
8. 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.
9. 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.
10. 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: 1.06% ✓
• Cap rate: 6.09%
• Cash-on-cash: -0.73%
• DSCR: 0.97
• GRM: 7.9

CMA / ARV

• ARV (on-the-fly): $251,125
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
18430 Aberdeen St	0.22mi	3/2.0 (-1)	1,223 (-0%)	0mo	$242,000	$198	82
1464 Linden Rd	0.55mi	4/2.0	1,198 (-2%)	1mo	$247,350	$206	68
1522 186th St	0.46mi	3/1.0 (-1)	1,209 (-1%)	3mo	$226,000	$187	67
914 Coach Rd	0.65mi	3/1.5 (-1)	1,197 (-2%)	0mo	$275,000	$230	61
1741 Evergreen Rd	0.66mi	3/1.0 (-1)	1,210 (-1%)	1mo	$230,000	$190	60
17917 Ashland Ave	0.69mi	3/1.0 (-1)	1,248 (+2%)	0mo	$214,900	$172	58
527 N Virginia Ave	0.56mi	4/2.0	1,100 (-10%)	0mo	$297,797	$271	55
900 W Strieff Ln	0.75mi	3/1.5 (-1)	1,269 (+4%)	3mo	$210,000	$165	51
18110 Center Ave	0.33mi	3/1.0 (-1)	1,044 (-15%)	2mo	$237,500	$227	51
1465 Ridge Rd	0.45mi	3/2.0 (-1)	1,372 (+12%)	3mo	$235,000	$171	49
1041 Coach Rd	0.58mi	4/2.0	1,407 (+15%)	2mo	$289,000	$205	44
214 N Gay Ct	0.74mi	4/2.0	1,088 (-11%)	3mo	$294,000	$270	42

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: -17.4%
• Equity multiple: 0.39×
• Total profit: $-45,501
• Equity at exit: $39,497

10-year hold

• IRR: -9.1%
• Equity multiple: 0.43×
• Total profit: $-42,093
• Equity at exit: $22,904

Cash invested: $74,172 (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 60430

• Home prices YoY: -32.1%
• Active inventory: 102
• Price-to-rent: 7.9×

Monthly cashflow live

• Estimated rent: $2,800 medium
• Mortgage (P&I): −$1,389
• Tax from tax record: −$758 /mo · $9,092/yr
• Insurance: −$110
• HOA: −$0
• Vacancy / Maint / Mgmt: −$588
• Net cashflow: $-45

Break-even live

Break-even rent $2,857

Max offer price $256,913

Occupancy floor 97%

Sensitivity live

Price	-10% $105	-5% $30	+0% $-45	+5% $-120	+10% $-195
Rent	-10% $-266	-5% $-156	+0% $-45	+5% $65	+10% $176
Rate	-1.0pp $88	-0.5pp $22	base $-45	+0.5pp $-114	+1.0pp $-184

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: $66,225
• Closing costs: $7,947
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
18117 Loomis Ave Homewood, IL	4.0	2.0	1500	$2,800	$1.87	5d	1	0.36mi

Listing history 22 events

1. 2026-06-21
   days on market $264,900 Active 48 DOM
2. 2026-06-18
   days on market $264,900 Active 45 DOM
3. 2026-06-17
   days on market $264,900 Active 44 DOM
4. 2026-06-16
   days on market $264,900 Active 43 DOM
5. 2026-06-15
   days on market $264,900 Active 42 DOM
6. 2026-06-13
   days on market $264,900 Active 40 DOM
7. 2026-06-09
   days on market $264,900 Active 36 DOM
8. 2026-06-08
   days on market $264,900 Active 35 DOM
9. 2026-06-07
   days on market $264,900 Active 34 DOM
10. 2026-06-04
    days on market $264,900 Active 31 DOM
11. 2026-06-03
    days on market $264,900 Active 30 DOM
12. 2026-06-02
    days on market $264,900 Active 29 DOM
13. 2026-06-01
    days on market $264,900 Active 28 DOM
14. 2026-05-31
    days on market $264,900 Active 27 DOM
15. 2026-05-17
    price $279,900
16. 2026-05-04
    listed $289,900 Active
17. 2026-05-04
    historical
18. 2026-04-09
    historical
19. 2022-06-10
    soldstatus $250,000
20. 2022-06-08
    soldstatus $250,000 Closed 686-char remark

    Show marketing remark (686 chars)

    PLEASE HAVE ALL OFFERS IN BY FRIDAY APRIL 27TH AT NOON. Very well maintained 3 Bedroom and 2 Full bath Tri Level on a corner lot in Homewood. Hardwood floors under all carpet. Possible 4th bedroom on lower level could also be office or second family room area. Recent updates include a newer roof, siding, furnace and air conditioner, humidifier, garage door and flooring on the lower level. Concrete crawl space for additional storage. Close to all Home Sweet Homewood has to offer... Schools, Restaurants, Metra transportation, Expressways, Shopping and Award Winning Parks. This is an Estate Sale and the home is being sold As-Is. Senior Citizen Tax Exemption in 2020 was $1,163.12.

21. 2022-04-24
    historical Contingent - Continue to Show 686-char remark

    Show marketing remark (686 chars)

    PLEASE HAVE ALL OFFERS IN BY FRIDAY APRIL 27TH AT NOON. Very well maintained 3 Bedroom and 2 Full bath Tri Level on a corner lot in Homewood. Hardwood floors under all carpet. Possible 4th bedroom on lower level could also be office or second family room area. Recent updates include a newer roof, siding, furnace and air conditioner, humidifier, garage door and flooring on the lower level. Concrete crawl space for additional storage. Close to all Home Sweet Homewood has to offer... Schools, Restaurants, Metra transportation, Expressways, Shopping and Award Winning Parks. This is an Estate Sale and the home is being sold As-Is. Senior Citizen Tax Exemption in 2020 was $1,163.12.

22. 2022-04-18
    listed $225,000 Active 686-char remark

    Show marketing remark (686 chars)

    PLEASE HAVE ALL OFFERS IN BY FRIDAY APRIL 27TH AT NOON. Very well maintained 3 Bedroom and 2 Full bath Tri Level on a corner lot in Homewood. Hardwood floors under all carpet. Possible 4th bedroom on lower level could also be office or second family room area. Recent updates include a newer roof, siding, furnace and air conditioner, humidifier, garage door and flooring on the lower level. Concrete crawl space for additional storage. Close to all Home Sweet Homewood has to offer... Schools, Restaurants, Metra transportation, Expressways, Shopping and Award Winning Parks. This is an Estate Sale and the home is being sold As-Is. Senior Citizen Tax Exemption in 2020 was $1,163.12.

ⓘ 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: $9,092 · $758/mo
• Projected year-2 tax: $9,092 · $758/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 3/10 Moderate FEMA zone X (unshaded) · 20% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥101°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $33,600
• − Mortgage interest: −$14,839
• − Property taxes: −$9,092
• − Insurance: −$1,324
• − Repairs & maintenance: −$2,688
• − Management: −$2,688
• − Depreciation: −$7,706
• Taxable loss: −$4,737
• Est. tax savings @ 24.0%: +$1,137
• After-tax cash flow: $594/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: Homewood Flossmoor Chsd 233
• NCES district ID: 1719560
• Math proficiency: 21% ▼ -15.00%
• Reading proficiency: 27% ▼ -13.00%
• Median HH income: $83,564
• Composite: 24.42/100
• National rank: #7681
• State rank: #272 of 620 in IL

Livability — Homewood

• Score: 81/100
• State rank: #81
• US rank: #1314

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Homewood, IL
• City population: 19,993
• Population (ZIP): 19,993

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: Diverse neighborhood (Simpson 0.62)
• Race & ethnicity: Black 44% White 42% Hispanic / Latino 9% Two or more races 6% Asian 1%
• Hispanic origin (detail): Mexican 7%
• Common ancestry: Romanian 5% Iranian 2% Italian 2%
• Foreign-born: 6% · Canada, Dominican Republic
• Languages at home: 91% English-only · Spanish 5% Russian/Polish/Slavic 1% German/W. Germanic 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: ▼ -105.00%
• Current HPI: 222.2923
• 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

+24.4% since first listed

8 events — show timeline

• 2026-05-17 Price Changed $279,900 MRED as Distributed by MLS Grid
• 2026-05-04 Listing Removed — MRED as Distributed by MLS Grid
• 2026-05-04 Listed $289,900 MRED as Distributed by MLS Grid
• 2026-04-09 Listing Removed — MRED as Distributed by MLS Grid
• 2022-06-10 Sold (Public Records) $250,000 Public Records
• 2022-06-08 Sold (MLS) $250,000 MRED as Distributed by MLS Grid
• 2022-04-24 Contingent — MRED as Distributed by MLS Grid
• 2022-04-18 Listed $225,000 MRED as Distributed by MLS Grid

Property tax history

+5.7%/yr

Latest (2023): $9,092 · +105.0% YoY. Source: county tax records.