1500 Carson Dr · Homewood, IL 60430

$319,900

4 bd · 2.0 ba · 1,636 sqft · SingleFamily public records · 10 Days on market

Built 1964 Est $288k · 11% 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 +16.3/30.0
• DSCR +5.0/10.0
• 1% rule +4.4/10.0
• Livability +4.0/5.0
• ARV discount +2.5/15.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.4/10.0
• Appreciation +0.0/10.0

Listing remarks

This updated ranch sits on a quiet street in Homewood, with the kind of easy rhythm you feel the moment you walk through the door. Hardwood floors run through the main living area, where the brightly lit living room opens to a dining room and on to a updated kitchen with stainless steel appliances and granite counters. Three bedrooms share the main level, served by two full baths, a jack and jill between two of the bedrooms and a hall bath with a walk in shower. Downstairs is where the home stretches out. The finished basement nearly doubles the living space, with a wide open family room ready for movie nights, a home gym, or whatever the season calls for. A bonus room works as a guest room

Key facts

• Finished basement
• Updated kitchen
• Granite counters

Tags

• HARDWOOD FLOORS
• UPDATED KITCHEN
• STAINLESS STEEL APPLIANCES
• GRANITE COUNTERS
• FINISHED BASEMENT
• WIDE OPEN FAMILY ROOM

Property features AI

Finance

• Other: Fee simple ownership
• HOA & community: No master association fee required

Exterior

• Parking: Owned garage (2.5 garage spaces, 2.5 total parking)
• Home design: Detached single-family home; Single-story
• Construction: Built 61–70 years ago; Built before 1978

Interior

• Bedrooms: 3 bedrooms; Additional room listed as 'Bedroom 4' (possible flexible/bonus room)
• Bathrooms: 2 full bathrooms
• Interior features: Full basement; Dining room; Family room; Living room
• Laundry & utility: Laundry room

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $320k.

Deal economics

• At list price, monthly cash flow is $174 ($2k/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 $302k (5.6% below list).
• Recommended offer: $302k (5.6% below list) — sets the bar for 1% rule.

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: Willow School (607 students, 0% FRL); James Hart School (math 22% / reading 37%, grade F, #256 of 665 statewide, top 41%, 711 students, 0% FRL); 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; 6 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 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 $10k of value loss. Plan a longer hold.

Negotiation context

• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.

Recommended offer $301,881 (5.6% below list)

Questions for the listing agent

1. Built in 1964 — 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. 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?
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: 0.94% ✗
• Cap rate: 6.95%
• Cash-on-cash: 2.33%
• DSCR: 1.10
• GRM: 8.8

CMA / ARV

• ARV (on-the-fly): $287,936
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
18834 Loomis Ave	0.18mi	4/2.5	1,785 (+9%)	2mo	$313,500	$176	73
18823 Ashland Ave	0.16mi	4/2.0	1,418 (-13%)	1mo	$250,000	$176	69
1307 Thomas St	0.47mi	4/2.0	1,487 (-9%)	1mo	$319,000	$215	62
1631 187th St	0.19mi	3/1.5 (-1)	1,878 (+15%)	0mo	$260,000	$138	59
939 Coach Rd	0.67mi	4/3.0	1,712 (+5%)	1mo	$279,000	$163	56
18630 Highland Ave	0.44mi	3/1.5 (-1)	1,485 (-9%)	2mo	$270,000	$182	56
18441 Marshfield Ave	0.37mi	3/1.5 (-1)	1,855 (+13%)	1mo	$345,000	$186	53
1308 W 191st St	0.50mi	3/2.0 (-1)	1,820 (+11%)	3mo	$251,000	$138	51
1037 185th Pl	0.59mi	3/2.0 (-1)	1,800 (+10%)	1mo	$400,000	$222	50
1041 Coach Rd	0.54mi	4/2.0	1,407 (-14%)	2mo	$289,000	$205	50
18234 Riegel Rd	0.65mi	3/2.0 (-1)	1,786 (+9%)	1mo	$150,000	$84	49
18350 Carpenter St	0.72mi	5/2.5 (+1)	1,865 (+14%)	2mo	$260,000	$139	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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -12.6%
• Equity multiple: 0.55×
• Total profit: $-40,703
• Equity at exit: $47,698

10-year hold

• IRR: -3.5%
• Equity multiple: 0.77×
• Total profit: $-20,980
• Equity at exit: $27,659

Cash invested: $89,572 (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: 8.8×

Monthly cashflow live

• Estimated rent: $3,019 high
• Mortgage (P&I): −$1,678
• Tax est. 1.5%: −$400 /mo · $4,798/yr
• Insurance: −$133
• HOA: −$0
• Vacancy / Maint / Mgmt: −$634
• Net cashflow: $174

Break-even live

Break-even rent $2,798

Max offer price $319,900

Occupancy floor 89%

Sensitivity live

Price	-10% $395	-5% $285	+0% $174	+5% $64	+10% $-47
Rent	-10% $-64	-5% $55	+0% $174	+5% $293	+10% $413
Rate	-1.0pp $335	-0.5pp $255	base $174	+0.5pp $91	+1.0pp $7

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: $79,975
• Closing costs: $9,597
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1332 Jamie Ln Homewood, IL	4.0	2.5	1576	$3,171	$2.01	26d	1	0.24mi
1601 183rd St Unit 1237861P Homewood, IL	3.0	1.5	1528	$8,665	$5.67	24d	1	0.57mi
1802 Evergreen Rd Homewood, IL	4.0	2.0	1716	$2,836	$1.65	0d	1	0.66mi
18117 Loomis Ave Homewood, IL	4.0	2.0	1500	$2,800	$1.87	5d	1	0.80mi
705 W Fitzhenry Ct Glenwood, IL	3.0	2.0	1600	$2,950	$1.84	22d	1	1.40mi
705 W Fitzhenry Ct Glenwood, IL	3.0	2.0	1700	$2,950	$1.74	26d	1	1.40mi

Listing history 7 events

1. 2026-06-21
   days on market $319,900 Coming Soon 10 DOM
2. 2026-06-18
   days on market $319,900 Coming Soon 7 DOM
3. 2026-06-17
   days on market $319,900 Coming Soon 6 DOM
4. 2026-06-16
   days on market $319,900 Coming Soon 5 DOM
5. 2026-06-15
   days on market $319,900 Coming Soon 4 DOM
6. 2026-06-13
   remarks 699-char remark
7. 2026-06-13
   listed $319,900 Coming Soon 2 DOM

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

Taxation est. · year 1

• Rental income: $36,226
• − Mortgage interest: −$17,919
• − Property taxes: −$4,798
• − Insurance: −$1,600
• − Repairs & maintenance: −$2,898
• − Management: −$2,898
• − Depreciation: −$9,306
• Taxable loss: −$3,194
• Est. tax savings @ 24.0%: +$767
• After-tax cash flow: $2,856/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