15032 Winchester Ave · Harvey, IL 60426

$55,000

3 bd · 1.0 ba · 990 sqft · SingleFamily public records · 17 Days on market

Built 1925 3,123 sqft lot Est $99k · 44% under

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Why this score? — see what drove the A- 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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• 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 3-bedroom, 1-bath single-family home offers a great opportunity for investors, rehabbers, or buyers looking to add value. Offering approximately 990 square feet of living space, the home features a functional layout with generously sized bedrooms and plenty of potential to customize to your vision. Situated on a 3,100+ sq ft lot, the property includes a spacious backyard that backs up to an open lot-providing additional privacy and possibilities for outdoor living or future improvements. With solid bones and endless potential, this property could make an excellent fix-and-flip, rental investment, or starter home project. Conveniently located near local amenities and major roadways, it

Key facts

• Spacious backyard
• Open lot
• Major roadways

Tags

• SPACIOUS BACKYARD
• OPEN LOT
• LOCAL AMENITIES
• MAJOR ROADWAYS

Property features AI

Finance

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

Exterior

• Utilities: Lake Michigan and public water; Public sewer
• Home design: Detached single-family home; Two-story
• Construction: Vinyl siding; Built over 100 years ago; Property built before 1978
• Exterior features: Less than 0.25-acre lot; Commuter-friendly location (commuter bus, commuter train, interstate access)

Interior

• Kitchen: Kitchen on main level (about 10 x 10)
• Bedrooms: Master bedroom on second floor (about 10 x 10); Second bedroom on second floor (10 x 10); Third bedroom on second floor (10 x 10)
• Bathrooms: One full bathroom
• Heating & cooling: Natural gas forced-air heating; Central air conditioning
• Interior features: Five total rooms; Crawl space basement
• Laundry & utility: Dedicated laundry room

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $55k.

Deal economics

• At list price, monthly cash flow is $999 ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $55k).
• Recommended offer: $54k (1.5% below list) — sets the bar for market timing.
• Cap rate 28.1% 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+, schools F, crime 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: 134 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 $6k of equity ($380 loan paydown + $6k appreciation (10.0% local appreciation)).
• At projected returns (10.0% appreciation + 3.0% rent growth), your $15k cash investment doubles in ~1 year — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 17 days — a 2% lower offer ($54k) is reasonable based on typical stale-listing flexibility.
• 34 sale attempts since 3y 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 $8k; list at $55k implies a 588% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1925 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $54,175 (1.5% below list)

Questions for the listing agent

1. Built in 1925 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
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: 3.17% ✓
• Cap rate: 28.09%
• Cash-on-cash: 77.84%
• DSCR: 4.46
• GRM: 2.6

CMA / ARV

• ARV (on-the-fly): $99,000
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
110 W 150th St	0.13mi	3/1.0	1,008 (+2%)	0mo	$101,250	$100	91
15133 S Honore Ave	0.20mi	3/1.0	900 (-9%)	0mo	$149,900	$167	75
14921 Lincoln Ave	0.18mi	3/1.0	900 (-9%)	6mo	$149,900	$167	72
14911 Page Ave	0.33mi	3/1.5	923 (-7%)	2mo	$110,000	$119	70
15427 Winchester Ave	0.48mi	3/1.0	1,020 (+3%)	6mo	$105,000	$103	67
14918 Western Ave	0.59mi	2/1.0 (-1)	1,000 (+1%)	1mo	$72,000	$72	65
15032 Marshfield Ave	0.38mi	3/1.0	1,081 (+9%)	4mo	$75,000	$69	64
15125 Marshfield Ave S	0.42mi	3/1.0	900 (-9%)	3mo	$127,500	$142	63
14727 Wood St	0.44mi	3/1.5	900 (-9%)	6mo	$60,000	$67	57
70 E 150th St	0.67mi	3/1.0	1,066 (+8%)	3mo	$61,500	$58	54
15024 Western Ave	0.57mi	2/1.0 (-1)	900 (-9%)	3mo	$18,000	$20	51
189 W 156th Pl	0.73mi	3/1.0	900 (-9%)	3mo	$37,000	$41	48

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: 88.0%
• Equity multiple: 7.08×
• Total profit: $93,605
• Equity at exit: $49,548

10-year hold

• IRR: 82.7%
• Equity multiple: 15.65×
• Total profit: $225,671
• Equity at exit: $106,853

Cash invested: $15,400 (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: 2.6×

Monthly cashflow live

• Estimated rent: $1,746 medium
• Mortgage (P&I): −$288
• Tax est. 1.5%: −$69 /mo · $825/yr
• Insurance: −$23
• HOA: −$0
• Vacancy / Maint / Mgmt: −$367
• Net cashflow: $999

Break-even live

Break-even rent $481

Max offer price $55,000

Occupancy floor 38%

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: $13,750
• Closing costs: $1,650
• Reserves months: —
• Total cash needed: —

Rent comps 2 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	0.53mi
16125 Marshfield Ave Markham, IL	3.0	1.0	1043	$2,400	$2.30	1d	1	1.41mi

Listing history 50 events

1. 2026-06-18
   days on market $55,000 Active 17 DOM
2. 2026-06-17
   days on market $55,000 Active 16 DOM
3. 2026-06-16
   days on market $55,000 Active 15 DOM
4. 2026-06-15
   days on market $55,000 Active 14 DOM
5. 2026-06-13
   days on market $55,000 Active 12 DOM
6. 2026-06-13
   days on market $55,000 Active 11 DOM
7. 2026-06-09
   days on market $55,000 Active 8 DOM
8. 2026-06-08
   days on market $55,000 Active 7 DOM
9. 2026-06-07
   days on market $55,000 Active 6 DOM
10. 2026-06-04
    days on market $55,000 Active 3 DOM
11. 2026-06-03
    days on market $55,000 Active 2 DOM
12. 2026-06-02
    days on marketlisting id $55,000 Active 1 DOM
13. 2026-06-01
    days on market $55,000 Active 38 DOM
14. 2026-05-31
    days on market $55,000 Active 37 DOM
15. 2026-04-24
    listed $55,000 Active
16. 2026-04-24
    historical
17. 2026-03-14
    listed Active
18. 2026-03-14
    historical
19. 2026-02-13
    listed Active
20. 2026-02-13
    historical
21. 2026-01-15
    listed Active
22. 2026-01-15
    historical
23. 2025-12-11
    historical
24. 2025-11-07
    listed Active
25. 2025-11-07
    historical
26. 2025-10-07
    listed Active
27. 2025-10-07
    historical
28. 2025-09-03
    listed Active
29. 2025-09-03
    historical
30. 2025-07-25
    listed Active
31. 2025-07-25
    historical
32. 2025-06-18
    listed Active
33. 2025-06-18
    historical
34. 2025-05-20
    listed Active
35. 2025-05-20
    historical
36. 2025-04-21
    listed Active
37. 2025-04-21
    historical
38. 2025-03-17
    listed Active
39. 2025-03-17
    historical
40. 2025-01-30
    listed Active
41. 2025-01-30
    historical
42. 2024-12-17
    listed Active
43. 2024-12-17
    historical
44. 2024-11-18
    listed Active
45. 2024-11-18
    historical
46. 2024-10-18
    listed Active
47. 2024-10-18
    historical
48. 2024-09-10
    listed Active
49. 2024-09-10
    historical
50. 2024-08-08
    listed Active

ⓘ 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 3/10 Moderate 4 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,948
• − Mortgage interest: −$3,081
• − Property taxes: −$825
• − Insurance: −$275
• − Repairs & maintenance: −$1,676
• − Management: −$1,676
• − Depreciation: −$1,600
• Taxable income: $11,815
• Est. tax owed @ 24.0%: −$2,836
• After-tax cash flow: $9,152/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

+587.5% since first listed

73 events — show timeline

• 2026-04-24 Listing Removed — MRED as Distributed by MLS Grid
• 2026-04-24 Listed $55,000 MRED as Distributed by MLS Grid
• 2026-03-14 Listing Removed — MRED as Distributed by MLS Grid
• 2026-03-14 Listed — MRED as Distributed by MLS Grid
• 2026-02-13 Listing Removed — MRED as Distributed by MLS Grid
• 2026-02-13 Listed — MRED as Distributed by MLS Grid
• 2026-01-15 Listing Removed — MRED as Distributed by MLS Grid
• 2026-01-15 Listed — MRED as Distributed by MLS Grid
• 2025-12-11 Listing Removed — MRED as Distributed by MLS Grid
• 2025-11-07 Listing Removed — MRED as Distributed by MLS Grid
• 2025-11-07 Listed — MRED as Distributed by MLS Grid
• 2025-10-07 Listing Removed — MRED as Distributed by MLS Grid
• 2025-10-07 Listed — MRED as Distributed by MLS Grid
• 2025-09-03 Listing Removed — MRED as Distributed by MLS Grid
• 2025-09-03 Listed — MRED as Distributed by MLS Grid
• 2025-07-25 Listing Removed — MRED as Distributed by MLS Grid
• 2025-07-25 Listed — MRED as Distributed by MLS Grid
• 2025-06-18 Listing Removed — MRED as Distributed by MLS Grid
• 2025-06-18 Listed — MRED as Distributed by MLS Grid
• 2025-05-20 Listing Removed — MRED as Distributed by MLS Grid
• 2025-05-20 Listed — MRED as Distributed by MLS Grid
• 2025-04-21 Listing Removed — MRED as Distributed by MLS Grid
• 2025-04-21 Listed — MRED as Distributed by MLS Grid
• 2025-03-17 Listing Removed — MRED as Distributed by MLS Grid
• 2025-03-17 Listed — MRED as Distributed by MLS Grid
• 2025-01-30 Listing Removed — MRED as Distributed by MLS Grid
• 2025-01-30 Listed — MRED as Distributed by MLS Grid
• 2024-12-17 Listing Removed — MRED as Distributed by MLS Grid
• 2024-12-17 Listed — MRED as Distributed by MLS Grid
• 2024-11-18 Listing Removed — MRED as Distributed by MLS Grid
• 2024-11-18 Listed — MRED as Distributed by MLS Grid
• 2024-10-18 Listing Removed — MRED as Distributed by MLS Grid
• 2024-10-18 Listed — MRED as Distributed by MLS Grid
• 2024-09-10 Listing Removed — MRED as Distributed by MLS Grid
• 2024-09-10 Listed — MRED as Distributed by MLS Grid
• 2024-08-08 Listing Removed — MRED as Distributed by MLS Grid
• 2024-08-08 Listed — MRED as Distributed by MLS Grid
• 2024-07-11 Listing Removed — MRED as Distributed by MLS Grid
• 2024-07-11 Listed — MRED as Distributed by MLS Grid
• 2024-06-11 Listing Removed — MRED as Distributed by MLS Grid
• 2024-06-11 Listed — MRED as Distributed by MLS Grid
• 2024-04-22 Listing Removed — MRED as Distributed by MLS Grid
• 2024-04-22 Listed — MRED as Distributed by MLS Grid
• 2024-03-18 Listing Removed — MRED as Distributed by MLS Grid
• 2024-03-18 Listed — MRED as Distributed by MLS Grid
• 2024-02-13 Listing Removed — MRED as Distributed by MLS Grid
• 2024-02-13 Listed — MRED as Distributed by MLS Grid
• 2024-01-12 Listing Removed — MRED as Distributed by MLS Grid
• 2024-01-12 Listed — MRED as Distributed by MLS Grid
• 2023-12-11 Listing Removed — MRED as Distributed by MLS Grid
• 2023-12-11 Listed — MRED as Distributed by MLS Grid
• 2023-10-31 Price Changed — MRED as Distributed by MLS Grid
• 2023-10-31 Listed — MRED as Distributed by MLS Grid
• 2023-10-03 Contingent — MRED as Distributed by MLS Grid
• 2023-10-03 Listing Removed — MRED as Distributed by MLS Grid
• 2023-09-19 Listing Removed — MRED as Distributed by MLS Grid
• 2023-09-19 Listed — MRED as Distributed by MLS Grid
• 2023-08-15 Listing Removed — MRED as Distributed by MLS Grid
• 2023-08-15 Listed — MRED as Distributed by MLS Grid
• 2023-07-11 Listing Removed — MRED as Distributed by MLS Grid
• 2023-07-11 Listed — MRED as Distributed by MLS Grid
• 2023-06-02 Listed — MRED as Distributed by MLS Grid
• 2023-05-11 Contingent — MRED as Distributed by MLS Grid
• 2023-05-10 Listing Removed — MRED as Distributed by MLS Grid
• 2023-04-21 Listing Removed — MRED as Distributed by MLS Grid
• 2023-04-21 Listed — MRED as Distributed by MLS Grid
• 2023-03-20 Listing Removed — MRED as Distributed by MLS Grid
• 2023-03-20 Listed — MRED as Distributed by MLS Grid
• 2023-03-07 Price Changed — MRED as Distributed by MLS Grid
• 2023-02-16 Listing Removed — MRED as Distributed by MLS Grid
• 2023-02-16 Listed — MRED as Distributed by MLS Grid
• 2023-01-18 Listed — MRED as Distributed by MLS Grid
• 1980-12-16 Sold (Public Records) $8,000 Public Records

Property tax history

+1.7%/yr

Latest (2023): $3,901 · +94.6% YoY. Source: county tax records.