3360 184th St Unit 3W · Homewood, IL 60430

$115,000

2 bd · 2.0 ba · 900 sqft · Condo · 274 Days on market

Built 1984 $299/mo HOA · 14% of rent

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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
• ARV discount +7.5/15.0
• 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 MLS

Very nice, impressive condo with all the bells and whistles! Must see to appreciate. Low assessment fee! and top-notch Homewood Flossmoor school district! Investors can rent! WOW!!

Key facts

• $299 HOA
• Garage
• Built 1984

Property features AI

Finance

• Other: Not currently leased; No major rehab or rebuild reported
• HOA & community: Monthly association fee of $299; Association fee covers water, parking, insurance, lawn care, trash (scavenger) and snow removal; Manager off-site; Pets allowed (cats and dogs); maximum pet weight 20 lbs

Exterior

• Parking: Detached garage (garage owned) with garage door opener; Asphalt parking; One total parking space
• Utilities: Public water; Public sewer
• Home design: Attached single condo; Entry level unit: 3; Commuter-train access
• Construction: Brick construction; Asphalt roof; Concrete perimeter foundation; Building age approximately 41–50 years; Building contains six units
• Exterior features: Balcony; Fire pit

Interior

• Kitchen: Kitchen (main level) — terracotta flooring, 8 x 14
• Bedrooms: Master bedroom (main level) — hardwood floors, full bath ensuite; Second bedroom (main level) — hardwood floors, 12 x 14
• Flooring: Hardwood flooring in living room, dining room, master and bedroom; Terracotta flooring in kitchen
• Bathrooms: Two full bathrooms
• Heating & cooling: Electric heating; Window and wall air-conditioning units
• Interior features: Five total rooms; Cellar basement; Wood-burning fireplace in the living room
• Laundry & utility: In-unit laundry (main level) — 3 x 3 laundry room

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $115k.

Deal economics

• At list price, monthly cash flow is $523 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $115k).
• Recommended offer: $101k (12.0% below list) — sets the bar for market timing.
• Cap rate 11.7% 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: 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: 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; 4 comparable units currently listed for rent nearby; rentals leasing fast (median 11d on market — plan ~1-2 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 $795 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $32k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 274 days — a 12% lower offer ($101k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 9y ago; this cycle's ask is 5650% above the opening price — seller raised mid-cycle; expect resistance to lowballs.

Recommended offer $101,200 (12.0% below list)

Questions for the listing agent

1. It's been on market 274 days. Have you received any prior offers? Is the seller open to a 12% 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. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
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 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?
7. 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.
8. 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.
9. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.88% ✓
• Cap rate: 11.75%
• Cash-on-cash: 19.48%
• DSCR: 1.87
• GRM: 4.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 11.7%
• Equity multiple: 1.46×
• Total profit: $14,936
• Equity at exit: $17,147

10-year hold

• IRR: 20.8%
• Equity multiple: 2.77×
• Total profit: $56,986
• Equity at exit: $9,943

Cash invested: $32,200 (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: 4.4×

Monthly cashflow live

• Estimated rent: $2,159 medium
• Mortgage (P&I): −$603
• Tax from tax record: −$233 /mo · $2,791/yr
• Insurance: −$48
• HOA: −$299
• Vacancy / Maint / Mgmt: −$453
• Net cashflow: $523

Break-even live

Break-even rent $1,497

Max offer price $115,000

Occupancy floor 71%

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: $28,750
• Closing costs: $3,450
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3501 177th St Country Club Hills, IL	2.0	2.0	839	$2,850	$3.40	1d	1	0.84mi
17984 Amherst Ct Country Club Hills, IL	2.0	1.0	1000	$1,900	$1.90	1d	1	1.01mi
2420 183rd St Homewood, IL	2.0	1.0	1100	$1,750	$1.59	10d	1	1.17mi
2640 Flossmoor Rd Unit 2S Flossmoor, IL	2.0	1.5	800	$1,800	$2.25	15d	1	1.28mi

HOA detail condo

• Monthly dues: $299 · $3,588/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 37 events

1. 2026-06-04
   statusdays on market $115,000 Pending 274 DOM
2. 2026-06-03
   days on market $115,000 Active 273 DOM
3. 2026-06-02
   days on market $115,000 Active 272 DOM
4. 2026-06-01
   days on market $115,000 Active 271 DOM
5. 2026-05-31
   days on market $115,000 Active 270 DOM
6. 2026-05-18
   price $115,000
7. 2026-05-13
   historical $1,700
8. 2026-05-03
   price $119,500
9. 2026-05-02
   price $1,700
10. 2026-04-02
    price $1,800
11. 2026-03-11
    price $145,000
12. 2026-02-25
    price $1,900
13. 2026-02-24
    price $149,000
14. 2026-01-19
    price $1,950
15. 2026-01-18
    price $153,500
16. 2025-12-10
    listed $2,000
17. 2025-10-23
    price $158,500
18. 2025-10-02
    price $163,500
19. 2025-09-03
    listed $168,500 Active
20. 2023-07-27
    soldstatus $120,000
21. 2023-07-24
    soldstatus $119,900 Closed 180-char remark

    Show marketing remark (180 chars)

    Very nice, impressive condo with all the bells and whistles! Must see to appreciate. Low assessment fee! and top-notch Homewood Flossmoor school district! Investors can rent! WOW!!

22. 2023-06-14
    historical Contingent - No Showings 180-char remark

    Show marketing remark (180 chars)

    Very nice, impressive condo with all the bells and whistles! Must see to appreciate. Low assessment fee! and top-notch Homewood Flossmoor school district! Investors can rent! WOW!!

23. 2023-06-09
    listed $119,900 Active 180-char remark

    Show marketing remark (180 chars)

    Very nice, impressive condo with all the bells and whistles! Must see to appreciate. Low assessment fee! and top-notch Homewood Flossmoor school district! Investors can rent! WOW!!

24. 2018-06-29
    historical
25. 2018-06-27
    listed New
26. 2018-05-29
    soldstatus $53,000
27. 2018-05-18
    soldstatus $53,000 Closed Sale
28. 2018-04-25
    historical Contingent
29. 2018-04-21
    listed $59,900 New
30. 2018-03-28
    historical Contingent
31. 2018-03-26
    historical
32. 2018-03-21
    price
33. 2018-01-05
    listed New
34. 2017-12-24
    historical
35. 2017-09-27
    price
36. 2017-08-24
    listed New
37. 2002-03-14
    soldstatus $107,500

ⓘ 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: $2,791 · $233/mo
• Projected year-2 tax: $2,791 · $233/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 3/10 Moderate FEMA zone X (unshaded) · 20% 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: $25,905
• − Mortgage interest: −$6,442
• − Property taxes: −$2,791
• − Insurance: −$575
• − Repairs & maintenance: −$2,072
• − Management: −$2,072
• − HOA: −$3,588
• − Depreciation: −$3,345
• Taxable income: $5,019
• Est. tax owed @ 24.0%: −$1,205
• After-tax cash flow: $5,070/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

+7.0% since first listed

32 events — show timeline

• 2026-05-18 Price Changed $115,000 MRED as Distributed by MLS Grid
• 2026-05-13 Rental Removed $1,700 MRED
• 2026-05-03 Price Changed $119,500 MRED as Distributed by MLS Grid
• 2026-05-02 Price Changed $1,700 MRED
• 2026-04-02 Price Changed $1,800 MRED
• 2026-03-11 Price Changed $145,000 MRED as Distributed by MLS Grid
• 2026-02-25 Price Changed $1,900 MRED
• 2026-02-24 Price Changed $149,000 MRED as Distributed by MLS Grid
• 2026-01-19 Price Changed $1,950 MRED
• 2026-01-18 Price Changed $153,500 MRED as Distributed by MLS Grid
• 2025-12-10 Listed for Rent $2,000 MRED
• 2025-10-23 Price Changed $158,500 MRED as Distributed by MLS Grid
• 2025-10-02 Price Changed $163,500 MRED as Distributed by MLS Grid
• 2025-09-03 Listed $168,500 MRED as Distributed by MLS Grid
• 2023-07-27 Sold (Public Records) $120,000 Public Records
• 2023-07-24 Sold (MLS) $119,900 MRED as Distributed by MLS Grid
• 2023-06-14 Contingent — MRED as Distributed by MLS Grid
• 2023-06-09 Listed $119,900 MRED as Distributed by MLS Grid
• 2018-06-29 Listing Removed — MRED as Distributed by MLS Grid
• 2018-06-27 Listed — MRED as Distributed by MLS Grid
• 2018-05-29 Sold (Public Records) $53,000 Public Records
• 2018-05-18 Sold (MLS) $53,000 MRED as Distributed by MLS Grid
• 2018-04-25 Contingent — MRED as Distributed by MLS Grid
• 2018-04-21 Listed $59,900 MRED as Distributed by MLS Grid
• 2018-03-28 Contingent — MRED as Distributed by MLS Grid
• 2018-03-26 Listing Removed — MRED as Distributed by MLS Grid
• 2018-03-21 Price Changed — MRED as Distributed by MLS Grid
• 2018-01-05 Listed — MRED as Distributed by MLS Grid
• 2017-12-24 Listing Removed — MRED as Distributed by MLS Grid
• 2017-09-27 Price Changed — MRED as Distributed by MLS Grid
• 2017-08-24 Listed — MRED as Distributed by MLS Grid
• 2002-03-14 Sold (Public Records) $107,500 Public Records

Property tax history

+0.5%/yr

Latest (2023): $2,791 · +46.3% YoY. Source: county tax records.