271 E 148th St · Harvey, IL 60426

$74,900

2 bd · 1.0 ba · 640 sqft · SingleFamily public records · 78 Days on market

Built 1926 3,000 sqft lot Est $102k · 26% under ↓ 15% since listing

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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 +27.1/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• Appreciation +10.0/10.0
• DSCR +9.4/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +0.7/10.0

Listing remarks MLS

Harvey IL. Frame home with 2 beds, 1 baths, 640 square feet, unfinished basement. Property needs total rehab and the basement can be finished to add beds and full baths. The property is vacant. Can rent for up to $1700 per month after rehabbed. Sold as is. Buyer pays seller side closing costs. Property will be sold free and clear

Key facts

• Basement
• 3,000 sq ft lot
• Built 1926

Tags

• BASEMENT
• SEPARATE SIDE ENTRANCE

Property features AI

Finance

• Other: Living area source: estimated; Property located in Harvey, Bremen Township
• HOA & community: No master association fee required

Exterior

• Utilities: Public water; Public sewer
• Home design: Detached single-family home; Single-story; Fee simple ownership; Rehab completed in 2026; Built before 1978 (historic construction age 91–100 years)
• Construction: Vinyl siding; Asphalt roof; Foundation details not provided
• Exterior features: Lot dimensions approximately 50 x 60; Lot under 0.25 acre

Interior

• Kitchen: Kitchen on main level; 12 x 12 kitchen with laminate flooring
• Bedrooms: 1 bedroom; Additional rooms listed as Bedroom 2, Bedroom 3, Bedroom 4
• Flooring: Laminate flooring in kitchen, living room, and master bedroom
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating; Window air conditioning units
• Interior features: 3 total rooms; Unfinished full basement
• Laundry & utility: Laundry room

🏷️ Possibly a rental listed for sale. The $74,900 price doesn't fit this home's estimated sale value (~$101,760) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $75k.

Deal economics

• At list price, monthly cash flow is $212 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $75k).
• Recommended offer: $70k (6.0% below list) — sets the bar for market timing.

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; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 3d 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

• In year one you build about $8k of equity ($518 loan paydown + $7k appreciation (10.0% local appreciation)).
• At projected returns (10.0% appreciation + 3.0% rent growth), your $21k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$37k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 78 days — a 6% lower offer ($70k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts 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 $25k; list at $75k implies a 197% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 4.2% of price; built in 1926 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $70,406 (6.0% below list)

Questions for the listing agent

1. It's been on market 78 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1926 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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 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?
7. 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?
8. 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.
9. 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.
10. 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: 1.52% ✓
• Cap rate: 9.68%
• Cash-on-cash: 12.11%
• DSCR: 1.54
• GRM: 5.5

CMA / ARV

• ARV (on-the-fly): $101,760
• Comps found: 5

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
14632 Halsted St	0.29mi	2/1.0	672 (+5%)	18mo	$40,500	$60	63
319 E 148th St	0.14mi	2/1.0	724 (+13%)	15mo	$115,000	$159	59
14717 E Riverside Dr	0.68mi	2/1.0	728 (+14%)	3mo	$35,000	$48	43
14300 Parnell Ave	0.65mi	3/1.0 (+1)	730 (+14%)	7mo	$179,900	$246	36
14732 Loomis Ave	0.58mi	3/2.0 (+1)	712 (+11%)	17mo	$155,000	$218	31

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: 33.2%
• Equity multiple: 3.59×
• Total profit: $54,394
• Equity at exit: $67,476

10-year hold

• IRR: 28.7%
• Equity multiple: 8.14×
• Total profit: $149,819
• Equity at exit: $145,514

Cash invested: $20,972 (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: 5.5×

Monthly cashflow live

• Estimated rent: $1,136 medium
• Mortgage (P&I): −$393
• Tax from tax record: −$261 /mo · $3,137/yr
• Insurance: −$31
• HOA: −$0
• Vacancy / Maint / Mgmt: −$238
• Net cashflow: $212

Break-even live

Break-even rent $868

Max offer price $74,900

Occupancy floor 76%

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: $18,725
• Closing costs: $2,247
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
455 W 144th St Unit 2W Riverdale, IL	1.0	1.0	750	$1,150	$1.53	4d	1	0.94mi
14119 S Tracy Ave Riverdale, IL	2.0	1.0	696	$1,205	$1.73	3d	1	1.29mi
14031 S School St Riverdale, IL	1.0	1.0	620	$1,045	$1.69	3d	1	1.40mi

Listing history 21 events

1. 2026-06-18
   days on market $74,900 Active 78 DOM
2. 2026-06-17
   days on market $74,900 Active 77 DOM
3. 2026-06-16
   days on market $74,900 Active 76 DOM
4. 2026-06-15
   days on market $74,900 Active 75 DOM
5. 2026-06-13
   days on market $74,900 Active 73 DOM
6. 2026-06-13
   days on market $74,900 Active 72 DOM
7. 2026-06-09
   days on market $74,900 Active 69 DOM
8. 2026-06-08
   days on market $74,900 Active 68 DOM
9. 2026-06-07
   days on market $74,900 Active 67 DOM
10. 2026-06-04
    days on market $74,900 Active 64 DOM
11. 2026-06-03
    days on market $74,900 Active 63 DOM
12. 2026-06-02
    days on market $74,900 Active 62 DOM
13. 2026-06-01
    days on market $74,900 Active 61 DOM
14. 2026-05-31
    days on market $74,900 Active 60 DOM
15. 2026-05-23
    status Active
16. 2026-05-12
    historical Contingent - Continue to Show
17. 2026-04-27
    soldstatus $25,200
18. 2026-04-01
    listed $74,900 Active
19. 2025-12-19
    soldstatus $25,100 Closed 332-char remark

    Show marketing remark (332 chars)

    Harvey IL. Frame home with 2 beds, 1 baths, 640 square feet, unfinished basement. Property needs total rehab and the basement can be finished to add beds and full baths. The property is vacant. Can rent for up to $1700 per month after rehabbed. Sold as is. Buyer pays seller side closing costs. Property will be sold free and clear

20. 2025-10-30
    status Pending 332-char remark

    Show marketing remark (332 chars)

    Harvey IL. Frame home with 2 beds, 1 baths, 640 square feet, unfinished basement. Property needs total rehab and the basement can be finished to add beds and full baths. The property is vacant. Can rent for up to $1700 per month after rehabbed. Sold as is. Buyer pays seller side closing costs. Property will be sold free and clear

21. 2025-10-22
    listed $29,500 Active 332-char remark

    Show marketing remark (332 chars)

    Harvey IL. Frame home with 2 beds, 1 baths, 640 square feet, unfinished basement. Property needs total rehab and the basement can be finished to add beds and full baths. The property is vacant. Can rent for up to $1700 per month after rehabbed. Sold as is. Buyer pays seller side closing costs. Property will be sold free and clear

ⓘ 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: $3,137 · $261/mo
• Projected year-2 tax: $3,137 · $261/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 ≥101°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: $13,626
• − Mortgage interest: −$4,196
• − Property taxes: −$3,137
• − Insurance: −$374
• − Repairs & maintenance: −$1,090
• − Management: −$1,090
• − Depreciation: −$2,179
• Taxable income: $1,560
• Est. tax owed @ 24.0%: −$374
• After-tax cash flow: $2,166/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

-14.6% since first listed

7 events — show timeline

• 2026-05-23 Relisted — MRED as Distributed by MLS Grid
• 2026-05-12 Contingent — MRED as Distributed by MLS Grid
• 2026-04-27 Sold (Public Records) $25,200 Public Records
• 2026-04-01 Listed $74,900 MRED as Distributed by MLS Grid
• 2025-12-19 Sold (MLS) $25,100 MRED as Distributed by MLS Grid
• 2025-10-30 Pending — MRED as Distributed by MLS Grid
• 2025-10-22 Listed $29,500 MRED as Distributed by MLS Grid

Property tax history

+3.5%/yr

Latest (2023): $3,137 · +9.5% YoY. Source: county tax records.