16237 Homan Ave · Markham, IL 60428

$159,500

3 bd · 1.0 ba · 1,060 sqft · SingleFamily public records · 64 Days on market

Built 1955 8,060 sqft lot Est $152k · 5% over

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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
• Appreciation +10.0/10.0
• ARV discount +5.1/15.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.5/10.0

Listing remarks MLS

Great starter for personal or investor. House is in good conditon and quiet safe area. Bank owned. Sold as-is

Key facts

• 8,060 sq ft lot
• 2 garage spots
• Built 1955

Property features AI

Finance

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

Exterior

• Parking: Detached garage (owned), 2 garage spaces, 2 total parking spaces
• Utilities: Public water; Public sewer; Electric service with circuit breakers
• Home design: Detached single-family home; One-story
• Construction: Vinyl siding; Built between 71-80 years ago; Built before 1978
• Exterior features: Lot dimensions approximately 62 x 130; Lot less than 0.25 acre

Interior

• Kitchen: Kitchen with vinyl flooring; Eating area (main level) with vinyl flooring
• Bedrooms: Three bedrooms (all on the main level); Master bedroom (main level)
• Flooring: Carpet in living room and bedrooms; Vinyl flooring in kitchen and eating area
• Bathrooms: One full bathroom
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Six total rooms
• Laundry & utility: Dedicated laundry room

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $160k.

Deal economics

• At list price, monthly cash flow is $623 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $160k).
• Recommended offer: $150k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 76/100 on livability (#186 in IL, #3,539 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: crime D, amenities D, employment D.
• Bremen Chsd 228 (suburban): math 15% / reading 17% proficiency, ranked #468 of 620 in IL (top 76%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 65 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 6,272 units permitted in Cook County in 2024 (4,658 in 5+ unit buildings).

Forward outlook

• In year one you build about $17k of equity ($1k loan paydown + $16k appreciation (10.0% local appreciation)).
• At projected returns (10.0% appreciation + 3.0% rent growth), your $45k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$43k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 64 days — a 6% lower offer ($150k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 16y 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.
• Current owner paid $19k; list at $160k implies a 744% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 4.0% of price; built in 1955 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $149,930 (6.0% below list)

Questions for the listing agent

1. It's been on market 64 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1955 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are F-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. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
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: 1.63% ✓
• Cap rate: 10.98%
• Cash-on-cash: 16.75%
• DSCR: 1.75
• GRM: 5.1

CMA / ARV

• ARV (on-the-fly): $151,580
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
16213 Saint Louis Ave	0.13mi	3/1.0	1,060 (0%)	2mo	$55,000	$52	92
16202 Saint Louis Ave	0.16mi	3/1.0	1,060 (0%)	2mo	$129,900	$123	91
16155 Kedzie Pkwy	0.28mi	3/1.0	1,048 (-1%)	1mo	$215,000	$205	84
3027 Wilshire Ave	0.44mi	3/1.0	1,025 (-3%)	3mo	$155,000	$151	72
3048 Sherwood Ave	0.48mi	2/1.0 (-1)	1,048 (-1%)	2mo	$161,000	$154	69
2926 Sussex Ave	0.60mi	3/1.0	1,048 (-1%)	2mo	$129,900	$124	69
2956 Sherwood Ave	0.59mi	3/1.0	1,048 (-1%)	5mo	$149,900	$143	67
16516 Turner Ave	0.34mi	3/1.0	1,200 (+13%)	2mo	$70,000	$58	61
16613 Wedgewood Ave	0.48mi	3/1.0	960 (-9%)	5mo	$165,000	$172	58
16364 California Ave	0.75mi	3/1.5	1,133 (+7%)	5mo	$160,000	$141	48
3737 Rose Manor Ter	0.56mi	2/1.0 (-1)	1,210 (+14%)	0mo	$165,000	$136	45
15823 S Saint Louis Ave	0.55mi	3/2.0	1,203 (+14%)	4mo	$220,000	$183	44

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 36.8%
• Equity multiple: 3.84×
• Total profit: $126,820
• Equity at exit: $143,690

10-year hold

• IRR: 31.7%
• Equity multiple: 8.67×
• Total profit: $342,718
• Equity at exit: $309,873

Cash invested: $44,660 (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 60428

• Home prices YoY: 8.5%
• Active inventory: 65
• Price-to-rent: 5.1×

Monthly cashflow live

• Estimated rent: $2,602 medium
• Mortgage (P&I): −$836
• Tax from tax record: −$530 /mo · $6,354/yr
• Insurance: −$66
• HOA: −$0
• Vacancy / Maint / Mgmt: −$546
• Net cashflow: $623

Break-even live

Break-even rent $1,813

Max offer price $159,500

Occupancy floor 71%

Sensitivity live

Price	-10% $714	-5% $669	+0% $623	+5% $578	+10% $533
Rent	-10% $418	-5% $521	+0% $623	+5% $726	+10% $829
Rate	-1.0pp $704	-0.5pp $664	base $623	+0.5pp $582	+1.0pp $540

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: $39,875
• Closing costs: $4,785
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
16752 Artesian Ave Hazel Crest, IL	3.0	1.0	867	$2,500	$2.88	2d	1	1.32mi
17306 Peach Grove Ln Hazel Crest, IL	4.0	1.0	1034	$2,700	$2.61	2d	1	1.50mi

Listing history 26 events

1. 2026-06-18
   days on market $159,500 Active 64 DOM
2. 2026-06-17
   days on market $159,500 Active 63 DOM
3. 2026-06-16
   days on market $159,500 Active 62 DOM
4. 2026-06-15
   days on market $159,500 Active 61 DOM
5. 2026-06-13
   pricedays on market $159,500 Active 59 DOM
6. 2026-06-09
   days on market $164,900 Active 55 DOM
7. 2026-06-08
   days on market $164,900 Active 54 DOM
8. 2026-06-07
   days on market $164,900 Active 53 DOM
9. 2026-06-04
   days on market $164,900 Active 50 DOM
10. 2026-06-03
    days on market $164,900 Active 49 DOM
11. 2026-06-02
    days on market $164,900 Active 48 DOM
12. 2026-06-01
    days on market $164,900 Active 47 DOM
13. 2026-05-31
    days on market $164,900 Active 46 DOM
14. 2026-04-15
    listed $164,900 Active
15. 2026-04-09
    historical
16. 2010-10-22
    soldstatus $18,900 Closed Sale 109-char remark

    Show marketing remark (109 chars)

    Great starter for personal or investor. House is in good conditon and quiet safe area. Bank owned. Sold as-is

17. 2010-09-06
    listed $26,200 109-char remark

    Show marketing remark (109 chars)

    Great starter for personal or investor. House is in good conditon and quiet safe area. Bank owned. Sold as-is

18. 2010-09-06
    historical 109-char remark

    Show marketing remark (109 chars)

    Great starter for personal or investor. House is in good conditon and quiet safe area. Bank owned. Sold as-is

19. 2010-08-16
    historical
20. 2010-08-06
    status Reactivated
21. 2010-06-17
    historical Contingent
22. 2010-06-04
    listed New
23. 2010-05-27
    historical
24. 2010-04-26
    price Price Change
25. 2010-03-23
    price Price Change
26. 2010-01-28
    listed New

ⓘ 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: $6,354 · $530/mo
• Projected year-2 tax: $6,354 · $530/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 1/10 Low FEMA zone X (unshaded) · 0% 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 3/10 Moderate 4 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $31,229
• − Mortgage interest: −$8,934
• − Property taxes: −$6,354
• − Insurance: −$798
• − Repairs & maintenance: −$2,498
• − Management: −$2,498
• − Depreciation: −$4,640
• Taxable income: $5,506
• Est. tax owed @ 24.0%: −$1,321
• After-tax cash flow: $6,160/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: Bremen Chsd 228
• NCES district ID: 1707050
• Math proficiency: 15% ▼ -4.00%
• Reading proficiency: 17% ▼ -5.00%
• Median HH income: $57,625
• Composite: 15.32/100
• National rank: #9327
• State rank: #468 of 620 in IL

Livability — Markham

• Score: 76/100
• State rank: #186
• US rank: #3539

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Markham, IL
• City population: 10,980
• Population (ZIP): 10,980

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: Predominantly Black (69%)
• Race & ethnicity: Black 69% Hispanic / Latino 17% White 11% Two or more races 4%
• Hispanic origin (detail): Mexican 16%
• Common ancestry: Romanian 1% Lithuanian 1% Iranian 1%
• Foreign-born: 8% · Canada
• Languages at home: 86% English-only · Spanish 14%

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: ▲ 23.63%
• Current HPI: 302.333
• 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

+529.4% since first listed

13 events — show timeline

• 2026-04-15 Listed $164,900 MRED as Distributed by MLS Grid
• 2026-04-09 Listing Removed — MRED as Distributed by MLS Grid
• 2010-10-22 Sold (MLS) $18,900 MRED as Distributed by MLS Grid
• 2010-09-06 Listing Removed — MRED as Distributed by MLS Grid
• 2010-09-06 Listed $26,200 MRED as Distributed by MLS Grid
• 2010-08-16 Listing Removed — MRED as Distributed by MLS Grid
• 2010-08-06 Relisted — MRED as Distributed by MLS Grid
• 2010-06-17 Contingent — MRED as Distributed by MLS Grid
• 2010-06-04 Listed — MRED as Distributed by MLS Grid
• 2010-05-27 Listing Removed — MRED as Distributed by MLS Grid
• 2010-04-26 Price Changed — MRED as Distributed by MLS Grid
• 2010-03-23 Price Changed — MRED as Distributed by MLS Grid
• 2010-01-28 Listed — MRED as Distributed by MLS Grid

Property tax history

+5.4%/yr

Latest (2023): $6,354 · +56.6% YoY. Source: county tax records.