1626 S Home Ave · Berwyn, IL 60402

$499,999

5 bd · 3.0 ba · 3,354 sqft · MultiFamily public records · 4 Days on market

Built 1939 4,356 sqft lot

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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 +20.7/30.0
• ARV discount +7.5/15.0
• DSCR +6.6/10.0
• 1% rule +5.8/10.0
• Livability +4.2/5.0
• Rent growth +3.6/5.0
• Condition / age +2.5/5.0
• Schools +1.1/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 3 units. confirmed

Listing remarks MLS

Welcome to this Chicago Bungalow style 3 Unit! Property features: new roof, new furnace, new hot water tank, newer fence, original hardwood floors & trim, large yard & 2.5 car garage! Blocks to school! Blocks to fine dining & night life! 10 min. to Downtown Chicago!

Key facts

• New furnace
• Newer fence
• New hot water tank

Tags

• NEW ROOF
• NEW FURNACE
• NEW HOT WATER TANK
• NEWER FENCE
• ORIGINAL HARDWOOD FLOORS
• LARGE YARD

Property features AI

Finance

• Other: Zoning: MULTI; Lot dimensions roughly 30 x 125 (less than 0.25 acre); Parcel number available
• Financial info: Special service area: No; Tax exemptions: Homeowner

Exterior

• Parking: Detached garage (2 garage spaces, 2 total parking spaces)
• Utilities: Water: Lake Michigan / Public; Sewer: Public sewer
• Home design: Two- to four-unit building (3 units in this property); Fee simple ownership; Property not rebuilt or rehabbed; Located near commuter bus, commuter train, and interstate access
• Construction: Brick construction; Built approximately 81–90 years ago; Built before 1978
• Exterior features: Patio

Interior

• Kitchen: No appliances listed for units
• Bedrooms: 6 bedrooms total; Unit breakdown: three units each with 2 bedrooms
• Bathrooms: 3 full bathrooms total; Each unit has 1 full bathroom
• Heating & cooling: Steam heating
• Interior features: 14 total rooms; Finished full daylight basement
• Laundry & utility: No tenant-paid utilities listed

What this means for you Summary

Snapshot

• This is a 3 × 2-bed/1.0-bath units multifamily listed at $500k.

Deal economics

• At list price, monthly cash flow is $675 ($8k/yr) — positive. Per door: $225/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $500k).
• Cap rate 7.9% vs local median 3.1% in Berwyn — 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 83/100 on livability (#46 in IL, #966 nationally) — a professional / high-income tenant draw. Strengths: commute A+, housing A+, crime A; Watch: schools D-.
• J S Morton Hsd 201 (suburban): math 9% / reading 14% proficiency, ranked #557 of 620 in IL (top 90%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: Rents rising fast (+4.6%/yr); 123 active listings in the ZIP; solid renter incomes; 6,272 units permitted in Cook County in 2024 (4,658 in 5+ unit buildings).
• At $5,400/mo this rent would consume 83% of the median local household income ($78k/yr) (locally 1998% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $15k of value loss. Plan a longer hold.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• 5 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.
• Current owner paid $210k; list at $500k implies a 138% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1939 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $499,999

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1939 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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 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: 1.08% ✓
• Cap rate: 7.91%
• Cash-on-cash: 5.79%
• DSCR: 1.26
• GRM: 7.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 4.57% rent growth · sell at horizon

5-year hold

• IRR: -5.5%
• Equity multiple: 0.79×
• Total profit: $-29,207
• Equity at exit: $74,551

10-year hold

• IRR: 6.0%
• Equity multiple: 1.48×
• Total profit: $67,296
• Equity at exit: $43,231

Cash invested: $140,000 (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 60402

• Rents YoY: 4.6%
• Active inventory: 123
• Price-to-rent: 23.2×

Monthly cashflow live

• Estimated rent: $5,400 high
• Mortgage (P&I): −$2,622
• Tax from tax record: −$761 /mo · $9,128/yr
• Insurance: −$208
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,134
• Net cashflow: $675

Break-even live

Break-even rent $4,546

Max offer price $499,999

Occupancy floor 82%

3-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 3× units	2	1	$5,400
Total (3 units)			$5,400

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: $125,000
• Closing costs: $15,000
• Reserves months: —
• Total cash needed: —

Listing history 11 events

1. 2026-05-25
   status Active

   Show marketing remark (278 chars)

   Welcome to this Chicago Bungalow style 3 Unit! Property features: new roof, new furnace, new hot water tank, newer fence, original hardwood floors & trim, large yard & 2.5 car garage! Blocks to school! Blocks to fine dining & night life! 10 min. to Downtown Chicago!

2. 2026-05-25
   historical

   Show marketing remark (278 chars)

   Welcome to this Chicago Bungalow style 3 Unit! Property features: new roof, new furnace, new hot water tank, newer fence, original hardwood floors & trim, large yard & 2.5 car garage! Blocks to school! Blocks to fine dining & night life! 10 min. to Downtown Chicago!

3. 2026-05-25
   listed $499,999 Active 278-char remark

   Show marketing remark (278 chars)

   Welcome to this Chicago Bungalow style 3 Unit! Property features: new roof, new furnace, new hot water tank, newer fence, original hardwood floors & trim, large yard & 2.5 car garage! Blocks to school! Blocks to fine dining & night life! 10 min. to Downtown Chicago!

4. 2026-04-11
   status Pending
5. 2026-01-23
   status Active
6. 2026-01-06
   status Pending
7. 2025-11-24
   listed Active
8. 2014-01-20
   soldstatus $210,000 Closed Sale 279-char remark

   Show marketing remark (279 chars)

   VERY WELL MAINTAINED ALL BRICK 3-FLAT, OWNER OCCUPIED FOR MANY YEARS, ALL UNITS VACANT, ALL HARDWOOD FLOORS AND FINISHED WOOD TRIM, GARDEN APARTMENT 8 FT CEILINGS, NOT A CONVERTED BASEMENT, APPLIANCES WILL STAY ON "AS IS" CONDITIONS, PLEASE PRESENT PRE-APPROVE LETTER

9. 2013-11-19
   soldstatus $210,000
10. 2013-09-16
    historical Contingent 279-char remark

    Show marketing remark (279 chars)

    VERY WELL MAINTAINED ALL BRICK 3-FLAT, OWNER OCCUPIED FOR MANY YEARS, ALL UNITS VACANT, ALL HARDWOOD FLOORS AND FINISHED WOOD TRIM, GARDEN APARTMENT 8 FT CEILINGS, NOT A CONVERTED BASEMENT, APPLIANCES WILL STAY ON "AS IS" CONDITIONS, PLEASE PRESENT PRE-APPROVE LETTER

11. 2013-08-29
    listed $250,000 New 279-char remark

    Show marketing remark (279 chars)

    VERY WELL MAINTAINED ALL BRICK 3-FLAT, OWNER OCCUPIED FOR MANY YEARS, ALL UNITS VACANT, ALL HARDWOOD FLOORS AND FINISHED WOOD TRIM, GARDEN APARTMENT 8 FT CEILINGS, NOT A CONVERTED BASEMENT, APPLIANCES WILL STAY ON "AS IS" CONDITIONS, PLEASE PRESENT PRE-APPROVE LETTER

ⓘ 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: $9,128 · $761/mo
• Projected year-2 tax: $10,239 · $853/mo
• Expected delta: +$1,111/yr (+$93/mo · 12.2%)

ⓘ 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 ≥100°F today · 14 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 5/10 Major 6 unhealthy d/yr today · 8 by 30 yrs out

Taxation est. · year 1

• Rental income: $64,800
• − Mortgage interest: −$28,008
• − Property taxes: −$9,128
• − Insurance: −$2,500
• − Repairs & maintenance: −$5,184
• − Management: −$5,184
• − Depreciation: −$14,545
• Taxable income: $250
• Est. tax owed @ 24.0%: −$60
• After-tax cash flow: $8,039/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: J S Morton Hsd 201
• NCES district ID: 1726880
• Math proficiency: 9% ▲ 1.00%
• Reading proficiency: 14% ▼ -1.00%
• Median HH income: $48,698
• Composite: 10.73/100
• National rank: #9768
• State rank: #557 of 620 in IL

Livability — Berwyn

• Score: 83/100
• State rank: #46
• US rank: #966

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Berwyn, IL
• County: Cook County · 4,486,803 people
• City population: 63,721
• Metro: Chicago-Naperville-Elgin, IL-IN-WI
• Population (ZIP): 63,721
• Household income: $77,718
• Rent vs Own: 36.1% rent · 63.9% own
• Severe rent burden: 1998.0

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 0.55)
• Race & ethnicity: Hispanic / Latino 61% White 27% Two or more races 19% Black 7% Asian 4% Native American 1%
• Hispanic origin (detail): Mexican 47% Puerto Rican 8%
• Common ancestry: Romanian 7% Italian 1% Lithuanian 0%
• Foreign-born: 23% · Canada, Vietnam, Jamaica
• Languages at home: 47% English-only · Spanish 47% Tagalog/Filipino 2% Other Indo-European 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: ▼ -318.33%
• Current HPI: 236.662
• Rent YoY: ▲ 4.57%
• Metro: Chicago-Naperville-Elgin, IL-IN-WI
• 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

+100.0% since first listed

11 events — show timeline

• 2026-05-25 Relisted — MRED as Distributed by MLS Grid
• 2026-05-25 Listed $499,999 MRED as Distributed by MLS Grid
• 2026-05-25 Listing Removed — MRED as Distributed by MLS Grid
• 2026-04-11 Pending — MRED as Distributed by MLS Grid
• 2026-01-23 Relisted — MRED as Distributed by MLS Grid
• 2026-01-06 Pending — MRED as Distributed by MLS Grid
• 2025-11-24 Listed — MRED as Distributed by MLS Grid
• 2014-01-20 Sold (MLS) $210,000 MRED as Distributed by MLS Grid
• 2013-11-19 Sold (Public Records) $210,000 Public Records
• 2013-09-16 Contingent — MRED as Distributed by MLS Grid
• 2013-08-29 Listed $250,000 MRED as Distributed by MLS Grid

Property tax history

+3.0%/yr

Latest (2023): $9,128 · -1.3% YoY. Source: county tax records.