14502 Kentucky Ave · Harvey, IL 60426

$62,500

3 bd · 1.0 ba · 912 sqft · SingleFamily public records · 24 Days on market

Built 1953

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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 +7.5/15.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +0.7/10.0

Listing remarks

This is a charming fixer upper with tons of fenced-in yardspace! There are two large bedrooms, and a 3rd bedroom that is perfectly suited for an office or children's room. The rear yard is ready to be turned into a private oasis. The garage was rebuilt in 2015 and is in great condition. Use your creativity to create the indoor and outdoor retreat you deserve!

Key facts

• Private oasis
• Garage rebuilt
• Fenced-in yardspace

Tags

• FENCED-IN YARDSPACE
• PRIVATE OASIS
• GARAGE REBUILT

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $62k.

Deal economics

• At list price, monthly cash flow is $555 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $62k).
• Recommended offer: $62k (1.5% below list) — sets the bar for market timing.
• Cap rate 17.0% vs local median 9.3% in Harvey — 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 67/100 on livability (#539 in IL) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A-; Watch: health & safety D+, crime F, 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.
• Zoned schools: Thornton Township High School (math 7% / reading 7%, grade F, #605 of 693 statewide, top 87%, 1,628 students, 0% FRL).
• Market conditions: 134 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 19d 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

• In year one you build about $7k of equity ($432 loan paydown + $6k appreciation (10.0% local appreciation)).
• At projected returns (10.0% appreciation + 3.0% rent growth), your $18k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 24 days — a 2% lower offer ($62k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: property tax is 2.5% of price; built in 1953 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $61,562 (1.5% below list)

Questions for the listing agent

1. Built in 1953 — 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 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?
5. Crime grade is F 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?
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: 2.11% ✓
• Cap rate: 16.95%
• Cash-on-cash: 38.06%
• DSCR: 2.69
• GRM: 4.0

CMA / ARV

• ARV (on-the-fly): $136,800
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
14817 Lexington Ave	0.42mi	3/1.0	946 (+4%)	5mo	$110,000	$116	70
14508 Des Plaines St	0.43mi	3/3.0	904 (-1%)	8mo	$59,000	$65	64
319 E 145th St	0.50mi	2/1.0 (-1)	960 (+5%)	2mo	$49,900	$52	61
14320 Parnell Ave	0.65mi	3/2.0	912 (0%)	5mo	$127,000	$139	61
14609 Justine St	0.38mi	3/2.0	1,000 (+10%)	6mo	$237,500	$238	58
14727 Wood St	0.74mi	3/1.5	900 (-1%)	6mo	$60,000	$67	56
14514 S Parnell Ave	0.71mi	2/1.0 (-1)	890 (-2%)	2mo	$123,000	$138	56
34 W 142nd St	0.63mi	3/1.0	960 (+5%)	9mo	$175,000	$182	54
14103 Marshfield Ave	0.66mi	3/1.0	960 (+5%)	8mo	$177,000	$184	54
14455 Des Plaines St	0.47mi	3/1.0	1,035 (+14%)	4mo	$155,000	$150	53
23 W 143 St	0.59mi	4/1.0 (+1)	984 (+8%)	5mo	$155,000	$158	50
14301 Parnell Ave	0.70mi	3/2.0	1,008 (+10%)	5mo	$217,000	$215	42

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: 53.6%
• Equity multiple: 4.97×
• Total profit: $69,447
• Equity at exit: $56,305

10-year hold

• IRR: 47.2%
• Equity multiple: 11.10×
• Total profit: $176,812
• Equity at exit: $121,424

Cash invested: $17,500 (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 60426

• Home prices YoY: 6.9%
• Active inventory: 134
• Price-to-rent: 4.0×

Monthly cashflow live

• Estimated rent: $1,317 high
• Mortgage (P&I): −$328
• Tax from tax record: −$131 /mo · $1,577/yr
• Insurance: −$26
• HOA: −$0
• Vacancy / Maint / Mgmt: −$277
• Net cashflow: $555

Break-even live

Break-even rent $614

Max offer price $62,500

Occupancy floor 53%

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: $15,625
• Closing costs: $1,875
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
14629 Hoyne Ave Dixmoor, IL	3.0	1.0	920	$1,495	$1.62	24d	1	1.04mi
14119 S Tracy Ave Riverdale, IL	2.0	1.0	696	$1,205	$1.73	3d	1	1.24mi
14015 S Stewart Ave Unit 2W Riverdale, IL	2.0	1.0	800	$1,400	$1.75	24d	1	1.30mi
724 W 138th St Unit 3 Riverdale, IL	2.0	1.0	800	$1,250	$1.56	19d	1	1.33mi
14101 S Atlantic Ave Riverdale, IL	2.0	1.0	790	$1,140	$1.44	7d	1	1.36mi

Listing history 2 events

1. 2025-08-28
   status Pending
2. 2025-08-03
   listed $62,500 Active

ⓘ 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: $1,577 · $131/mo
• Projected year-2 tax: $1,577 · $131/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 ≥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: $15,802
• − Mortgage interest: −$3,501
• − Property taxes: −$1,577
• − Insurance: −$312
• − Repairs & maintenance: −$1,264
• − Management: −$1,264
• − Depreciation: −$1,818
• Taxable income: $6,065
• Est. tax owed @ 24.0%: −$1,456
• After-tax cash flow: $5,206/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 — Harvey

• Score: 67/100
• State rank: #539
• US rank: #11162

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Harvey, IL
• City population: 23,066
• Population (ZIP): 23,066

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: Majority Black (59%)
• Race & ethnicity: Black 59% Hispanic / Latino 33% Two or more races 12% White 3% Asian 2%
• Hispanic origin (detail): Mexican 31%
• Foreign-born: 17% · Canada
• Languages at home: 67% English-only · Spanish 30% Other Indo-European 2% French/Haitian/Cajun 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: ▲ 20.36%
• Current HPI: 313.7895
• 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

2 events — show timeline

• 2025-08-28 Pending — MRED as Distributed by MLS Grid
• 2025-08-03 Listed $62,500 MRED as Distributed by MLS Grid

Property tax history

+14.9%/yr

Latest (2023): $1,577 · +823.6% YoY. Source: county tax records.