904 Garden Ln · Homewood, IL 60430

$237,000

2 bd · 2.5 ba · 1,700 sqft · Townhouse · 38 Days on market

Built 2001 3,600 sqft lot Est $216k · 10% over $350/mo HOA · 8% of rent

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Why this score? — see what drove the C+ 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
• Livability +4.0/5.0
• ARV discount +3.1/15.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +0.7/10.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to easy, elegant living in the highly sought-after 55+ gated community of Garden at the Homewood Place! This beautifully maintained 2-story townhome is the perfect blend of comfort, space, and convenience-designed for those who appreciate pride of ownership and a low-maintenance lifestyle. Step inside to soaring cathedral ceilings and an open layout featuring large, sun-filled rooms. The main level offers a spacious living and dining room with a full kitchen that has a pantry closet-perfect for extra storage. Sliding glass doors lead to a private concrete patio with a privacy fence-perfect for outdoor relaxation or entertaining. This home features 2 generously sized bedrooms plus a

Key facts

• Gated community
• Community clubhouse
• Exercise room

Tags

• GATED COMMUNITY
• PRIVATE CONCRETE PATIO
• COMMUNITY CLUBHOUSE
• EXERCISE ROOM
• MOVE IN READY

Property features AI

Finance

• Other: Ownership: Fee simple with HOA; Community: The Garden at Homewood Place; Commuter bus and school bus service available
• HOA & community: Homeowners association with $350 monthly fee; HOA covers insurance, clubhouse, exercise facilities, exterior maintenance, lawn care, and snow removal; Pets allowed (cats and dogs)

Exterior

• Parking: Attached garage owned with 2 garage spaces; Asphalt driveway; Garage door opener
• Utilities: Water source: Lake Michigan; Public sewer; Electric: circuit breakers
• Home design: Attached single, 2-story townhouse; End unit; Entry level is 1
• Construction: Approximately 21–25 years old; Vinyl siding; Asphalt roof; Concrete perimeter foundation
• Exterior features: Patio; Cul-de-sac lot

Interior

• Kitchen: Galley kitchen with pantry closet; Range; Microwave; Dishwasher; Refrigerator
• Bedrooms: Master bedroom on second level (approx. 15 x 17) with full bath; Second bedroom on main level (approx. 12 x 12); Two additional bedrooms noted
• Flooring: Carpet in living room and bedrooms
• Bathrooms: Two full bathrooms; One half bathroom
• Heating & cooling: Natural gas heating; Central air conditioning
• Interior features: Six total rooms; Loft (second level)
• Laundry & utility: In-unit laundry (washer and dryer included); Laundry room on main level (approx. 13 x 6)

What this means for you Summary

Snapshot

• This is a 2-bed/2.5-bath townhouse listed at $237k.

Deal economics

• At list price, monthly cash flow is $2k ($19k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $237k).
• Recommended offer: $230k (3.0% below list) — sets the bar for market timing.
• Cap rate 14.4% vs local median 6.1% in Homewood — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

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: schools D+, amenities F.
• Thornton Twp Hsd 205 (suburban): math 7% / reading 8% proficiency, ranked #594 of 620 in IL (top 96%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 101 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 23d 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 $7k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $66k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 38 days — a 3% lower offer ($230k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 13y ago; this cycle's ask has dropped $13k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $175k; 35% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $229,890 (3.0% below list)

Questions for the listing agent

1. It's been on market 38 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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. 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: 1.92% ✓
• Cap rate: 14.43%
• Cash-on-cash: 29.07%
• DSCR: 2.29
• GRM: 4.3

CMA / ARV

• ARV (on-the-fly): $215,900
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
910 Garden Ln #910	0.00mi	2/2.0	1,600 (-6%)	10mo	$195,000	$122	80
946 Garden Ln	0.01mi	2/2.0	1,500 (-12%)	19mo	$190,900	$127	62

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: 23.5%
• Equity multiple: 1.97×
• Total profit: $64,277
• Equity at exit: $35,337

10-year hold

• IRR: 31.5%
• Equity multiple: 3.85×
• Total profit: $188,976
• Equity at exit: $20,491

Cash invested: $66,360 (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: 4.3×

Monthly cashflow live

• Estimated rent: $4,551 medium
• Mortgage (P&I): −$1,243
• Tax est. 1.5%: −$296 /mo · $3,555/yr
• Insurance: −$99
• HOA: −$350
• Vacancy / Maint / Mgmt: −$956
• Net cashflow: $1,608

Break-even live

Break-even rent $2,516

Max offer price $237,000

Occupancy floor 60%

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: $59,250
• Closing costs: $7,110
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
705 W Fitzhenry Ct Glenwood, IL	3.0	2.0	1700	$2,950	$1.74	25d	1	1.15mi
705 W Fitzhenry Ct Glenwood, IL	3.0	2.0	1600	$2,950	$1.84	20d	1	1.15mi
1601 183rd St Unit 1237861P Homewood, IL	3.0	1.5	1528	$8,665	$5.67	22d	1	1.37mi

HOA detail

• Monthly dues: $350 · $4,200/yr
• Likely covers: security

Listing history 21 events

1. 2026-06-18
   days on market $237,000 Active 38 DOM
2. 2026-06-17
   days on market $237,000 Active 37 DOM
3. 2026-06-16
   days on market $237,000 Active 36 DOM
4. 2026-06-15
   days on market $237,000 Active 35 DOM
5. 2026-06-13
   days on market $237,000 Active 33 DOM
6. 2026-06-13
   days on market $237,000 Active 32 DOM
7. 2026-06-09
   days on market $237,000 Active 29 DOM
8. 2026-06-08
   days on market $237,000 Active 28 DOM
9. 2026-06-07
   days on market $237,000 Active 27 DOM
10. 2026-06-04
    days on market $237,000 Active 24 DOM
11. 2026-06-03
    days on market $237,000 Active 23 DOM
12. 2026-06-02
    days on market $237,000 Active 22 DOM
13. 2026-06-01
    days on market $237,000 Active 21 DOM
14. 2026-05-31
    days on market $237,000 Active 20 DOM
15. 2026-05-20
    price $237,000
16. 2026-05-11
    listed $250,000 Active
17. 2014-05-12
    historical
18. 2014-04-13
    price Price Change
19. 2013-08-22
    listed New
20. 2002-10-10
    soldstatus $175,000
21. 2002-04-19
    soldstatus $130,000

ⓘ 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 3/10 Moderate 7 d/yr ≥102°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: $54,616
• − Mortgage interest: −$13,276
• − Property taxes: −$3,555
• − Insurance: −$1,185
• − Repairs & maintenance: −$4,369
• − Management: −$4,369
• − HOA: −$4,200
• − Depreciation: −$6,895
• Taxable income: $16,768
• Est. tax owed @ 24.0%: −$4,024
• After-tax cash flow: $15,269/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: Thornton Twp Hsd 205
• NCES district ID: 1738970
• Math proficiency: 7% ▬ 0.00%
• Reading proficiency: 8% ▼ -2.00%
• Median HH income: $43,392
• Composite: 6.92/100
• National rank: #9976
• State rank: #594 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

+82.3% since first listed

7 events — show timeline

• 2026-05-20 Price Changed $237,000 MRED as Distributed by MLS Grid
• 2026-05-11 Listed $250,000 MRED as Distributed by MLS Grid
• 2014-05-12 Listing Removed — MRED as Distributed by MLS Grid
• 2014-04-13 Price Changed — MRED as Distributed by MLS Grid
• 2013-08-22 Listed — MRED as Distributed by MLS Grid
• 2002-10-10 Sold (Public Records) $175,000 Public Records
• 2002-04-19 Sold (Public Records) $130,000 Public Records