1121 Olive Rd · Homewood, IL 60430

$265,000

3 bd · 1.0 ba · 1,364 sqft · SingleFamily public records · 11 Days on market

Built 1955 7,492 sqft lot Est $270k · at est.

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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 +14.2/30.0
• ARV discount +8.3/15.0
• 1% rule +6.0/10.0
• DSCR +4.3/10.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.4/10.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to this classic brick residence offering generous living space and a convenient Homewood location close to parks, the Metra station, shops, and local restaurants. The 23'x16' living room provides a wide, versatile layout-ideal for everyday living and hosting gatherings. A fully finished basement substantially expands the usable space, featuring a second family room, an oversized recreation area, a full bathroom, and an additional room that works well as an office, guest space, fitness room, or hobby area. With three bedrooms upstairs and 2.5 baths overall, the floor plan offers flexible options for work, play, and privacy. Enjoy the convenience of being minutes from downtown Homewoo

Key facts

• Brick residence
• Full bathroom
• Additional room

Tags

• BRICK RESIDENCE
• FINISHED BASEMENT
• SECOND FAMILY ROOM
• OVERSIZED RECREATION AREA
• FULL BATHROOM
• ADDITIONAL ROOM

Property features AI

Finance

• HOA & community: No master association fee required

Exterior

• Parking: Detached garage (2 garage spaces, 2 total parking spaces); Asphalt driveway
• Utilities: Water from Lake Michigan and public supply; Public sewer; Electric service with circuit breakers
• Home design: Detached single-family home; Built approximately 71–80 years ago; Accessible/disability access; Interstate access nearby
• Construction: Vinyl siding and brick exterior; Asphalt roof; Built before 1978
• Exterior features: Wooded lot; Lot dimensions approximately 50 x 150; Less than 0.25 acre

Interior

• Kitchen: Eating-area kitchen (approx. 17 x 12); Range; Microwave; Refrigerator
• Bedrooms: 3 bedrooms (1 additional bedroom possible); One bedroom located in the basement; Two main-level bedrooms (approx. 11 x 9); Basement bedroom (approx. 13 x 12); Master bedroom on main level (approx. 15 x 11)
• Flooring: Hardwood throughout primary living areas
• Bathrooms: 2 full bathrooms; 1 half bathroom; Basement contains at least one bathroom
• Heating & cooling: Natural gas forced-air heating; Central air conditioning
• Interior features: Finished full basement; 7 total rooms; Hardwood flooring
• Laundry & utility: Dedicated laundry room

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $265k.

Deal economics

• At list price, monthly cash flow is $43 ($520/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $265k).

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: 101 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals at typical pace (median 25d 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 $8k of value loss. Plan a longer hold.

Negotiation context

• Only 11 days on market — expect competitive offers; lowballing is unlikely to land.
• 7 sale attempts since 13y 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.

Risks & watch-outs

• Watch-outs: property tax is 3.4% of price; built in 1955 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $265,000

Questions for the listing agent

1. Built in 1955 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 1.10% ✓
• Cap rate: 6.49%
• Cash-on-cash: 0.70%
• DSCR: 1.03
• GRM: 7.6

CMA / ARV

• ARV (on-the-fly): $270,072
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1207 Olive Rd	0.09mi	3/2.0	1,459 (+7%)	1mo	$225,000	$154	80
1465 Ridge Rd	0.46mi	3/2.0	1,372 (+1%)	3mo	$235,000	$171	71
18430 Aberdeen St	0.32mi	3/2.0	1,223 (-10%)	0mo	$242,000	$198	64
17917 Ashland Ave	0.66mi	3/1.0	1,248 (-8%)	0mo	$214,900	$172	55
1524 Olive Rd	0.51mi	2/1.5 (-1)	1,229 (-10%)	2mo	$227,000	$185	51
900 W Strieff Ln	0.72mi	3/1.5	1,269 (-7%)	3mo	$210,000	$165	50
1041 Coach Rd	0.73mi	4/2.0 (+1)	1,407 (+3%)	2mo	$289,000	$205	50
1522 186th St	0.70mi	3/1.0	1,209 (-11%)	3mo	$226,000	$187	46
1464 Linden Rd	0.52mi	4/2.0 (+1)	1,198 (-12%)	1mo	$247,350	$206	46
807 W Manor Ct W	0.69mi	4/1.5 (+1)	1,232 (-10%)	1mo	$245,000	$199	44
914 Coach Rd	0.75mi	3/1.5	1,197 (-12%)	0mo	$275,000	$230	42
945 W 187th St	0.70mi	4/1.5 (+1)	1,197 (-12%)	4mo	$244,000	$204	36

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: -15.0%
• Equity multiple: 0.46×
• Total profit: $-39,878
• Equity at exit: $39,512

10-year hold

• IRR: -6.2%
• Equity multiple: 0.60×
• Total profit: $-29,945
• Equity at exit: $22,912

Cash invested: $74,200 (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 60430

• Home prices YoY: -32.1%
• Active inventory: 101
• Price-to-rent: 7.6×

Monthly cashflow live

• Estimated rent: $2,903 high
• Mortgage (P&I): −$1,390
• Tax from tax record: −$750 /mo · $8,999/yr
• Insurance: −$110
• HOA: −$0
• Vacancy / Maint / Mgmt: −$610
• Net cashflow: $43

Break-even live

Break-even rent $2,848

Max offer price $265,000

Occupancy floor 94%

Sensitivity live

Price	-10% $193	-5% $118	+0% $43	+5% $-32	+10% $-107
Rent	-10% $-186	-5% $-71	+0% $43	+5% $158	+10% $273
Rate	-1.0pp $177	-0.5pp $111	base $43	+0.5pp $-25	+1.0pp $-95

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: $66,250
• Closing costs: $7,950
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
18117 Loomis Ave Homewood, IL	4.0	2.0	1500	$2,800	$1.87	6d	1	0.31mi
1601 183rd St Unit 1237861P Homewood, IL	3.0	1.5	1528	$8,665	$5.67	24d	1	0.57mi
705 W Fitzhenry Ct Glenwood, IL	3.0	2.0	1600	$2,950	$1.84	22d	1	0.82mi
705 W Fitzhenry Ct Glenwood, IL	3.0	2.0	1700	$2,950	$1.74	27d	1	0.82mi
1802 Evergreen Rd Homewood, IL	4.0	2.0	1716	$2,836	$1.65	1d	1	0.83mi
1332 Jamie Ln Homewood, IL	4.0	2.5	1576	$3,171	$2.01	26d	1	0.84mi

Listing history 40 events

1. 2026-06-22
   days on market $265,000 Active 11 DOM
2. 2026-06-21
   days on market $265,000 Active 10 DOM
3. 2026-06-18
   days on market $265,000 Active 7 DOM
4. 2026-06-17
   days on market $265,000 Active 6 DOM
5. 2026-06-16
   days on market $265,000 Active 5 DOM
6. 2026-06-15
   days on market $265,000 Active 4 DOM
7. 2026-06-13
   days on marketlisting id $265,000 Active 2 DOM
8. 2026-06-09
   days on market $265,000 Active 215 DOM
9. 2026-06-08
   days on market $265,000 Active 214 DOM
10. 2026-06-07
    days on market $265,000 Active 213 DOM
11. 2026-06-04
    days on market $265,000 Active 210 DOM
12. 2026-06-03
    days on market $265,000 Active 209 DOM
13. 2026-06-02
    days on market $265,000 Active 208 DOM
14. 2026-06-01
    days on market $265,000 Active 207 DOM
15. 2026-05-31
    days on market $265,000 Active 206 DOM
16. 2026-04-23
    status Active
17. 2026-03-20
    historical Contingent - Continue to Show
18. 2026-01-16
    price $270,000
19. 2025-12-19
    price $278,000
20. 2025-11-21
    price $287,000
21. 2025-11-06
    listed $296,000 Active
22. 2025-11-06
    historical
23. 2025-10-03
    price
24. 2025-09-27
    price
25. 2025-09-19
    price
26. 2025-09-05
    price
27. 2025-08-21
    listed Active
28. 2022-05-12
    price $2,195
29. 2017-12-26
    soldstatus $1,590,000
30. 2014-11-20
    soldstatus $152,000
31. 2014-10-31
    soldstatus $152,000 Closed Sale 254-char remark
32. 2014-10-01
    status Pending 254-char remark
33. 2014-08-13
    listed $170,500 New 254-char remark
34. 2014-08-06
    soldstatus $60,200 Closed Sale
35. 2014-04-30
    status Pending
36. 2014-04-30
    listed $61,000 New
37. 2014-04-04
    historical
38. 2013-10-16
    status Pending
39. 2013-09-24
    listed New
40. 1999-10-14
    soldstatus $115,000

ⓘ 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: $8,999 · $750/mo
• Projected year-2 tax: $8,999 · $750/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 6/10 Major FEMA zone X (unshaded) · 69% 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: $34,836
• − Mortgage interest: −$14,844
• − Property taxes: −$8,999
• − Insurance: −$1,325
• − Repairs & maintenance: −$2,787
• − Management: −$2,787
• − Depreciation: −$7,709
• Taxable loss: −$3,615
• Est. tax savings @ 24.0%: +$868
• After-tax cash flow: $1,388/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

+130.4% since first listed

28 events — show timeline

• 2026-06-11 Listing Removed — MRED as Distributed by MLS Grid
• 2026-06-11 Listed $265,000 MRED as Distributed by MLS Grid
• 2026-05-29 Price Changed — MRED as Distributed by MLS Grid
• 2026-04-23 Relisted — MRED as Distributed by MLS Grid
• 2026-03-20 Contingent — MRED as Distributed by MLS Grid
• 2026-01-16 Price Changed — MRED as Distributed by MLS Grid
• 2025-12-19 Price Changed — MRED as Distributed by MLS Grid
• 2025-11-21 Price Changed — MRED as Distributed by MLS Grid
• 2025-11-06 Listing Removed — MRED as Distributed by MLS Grid
• 2025-11-06 Listed — MRED as Distributed by MLS Grid
• 2025-10-03 Price Changed — MRED as Distributed by MLS Grid
• 2025-09-27 Price Changed — MRED as Distributed by MLS Grid
• 2025-09-19 Price Changed — MRED as Distributed by MLS Grid
• 2025-09-05 Price Changed — MRED as Distributed by MLS Grid
• 2025-08-21 Listed — MRED as Distributed by MLS Grid
• 2022-05-12 Price Changed $2,195 RENT.
• 2017-12-26 Sold (Public Records) $1,590,000 Public Records
• 2014-11-20 Sold (Public Records) $152,000 Public Records
• 2014-10-31 Sold (MLS) $152,000 MRED as Distributed by MLS Grid
• 2014-10-01 Pending — MRED as Distributed by MLS Grid
• 2014-08-13 Listed $170,500 MRED as Distributed by MLS Grid
• 2014-08-06 Sold (MLS) $60,200 MRED as Distributed by MLS Grid
• 2014-04-30 Pending — MRED as Distributed by MLS Grid
• 2014-04-30 Listed $61,000 MRED as Distributed by MLS Grid
• 2014-04-04 Listing Removed — MRED as Distributed by MLS Grid
• 2013-10-16 Pending — MRED as Distributed by MLS Grid
• 2013-09-24 Listed — MRED as Distributed by MLS Grid
• 1999-10-14 Sold (Public Records) $115,000 Public Records

Property tax history

+5.1%/yr

Latest (2023): $8,999 · +24.8% YoY. Source: county tax records.