18847 May Ave · Homewood, IL 60430

$389,000

4 bd · 2.5 ba · 2,500 sqft · SingleFamily public records · 34 Days on market

Built 1964 Est $362k · 7% over

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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 +25.9/30.0
• DSCR +8.7/10.0
• 1% rule +7.9/10.0
• ARV discount +4.2/15.0
• 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

Get ready to be impressed from the moment you walk into this beautiful home. This home has a wonderful open floor plan. The main floor has the galley kitchen and eat in space, living room, dining room, and half bath. A few steps down you walk into the spacious family room with fireplace. The second floor includes 4 bedrooms and 2 full baths. The finished basement is perfect as a recreation room, play area, or entertaining space. A yard that is great for bringing the party outside or just relaxing on the deck after a long day. Award winning schools. Close to park. 2 car garage.

Key facts

• Basement
• Backyard deck
• Split-level design

Tags

• SPLIT-LEVEL DESIGN
• BASEMENT
• SUB-BASEMENT
• BACKYARD DECK

Property features AI

Finance

• Other: Possession at closing
• HOA & community: No master association fee required

Exterior

• Parking: Attached garage with 2 garage spaces (2 total parking spaces)
• Utilities: Public water; Public sewer
• Home design: Detached single-family home; 2-story layout; Fee simple ownership
• Construction: Brick construction; Built approximately 61–70 years ago; Built before 1978
• Exterior features: Lot smaller than 0.25 acre; School bus service available

Interior

• Kitchen: Kitchen on main level (approx. 12 x 14)
• Bedrooms: 4 bedrooms (master bedroom on second level; additional bedrooms on second level sized approximately 14 x 16, 14 x 14, 13 x 12, and 10 x 11)
• Bathrooms: 2 full bathrooms and 1 half bathroom
• Heating & cooling: Natural gas heating; Central air conditioning
• Interior features: Finished full basement; Total of 8 rooms
• Laundry & utility: Laundry room in basement (approx. 10 x 10)

What this means for you Summary

Snapshot

• This is a 4-bed/2.5-bath single-family listed at $389k.

Deal economics

• At list price, monthly cash flow is $955 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $389k).
• Recommended offer: $377k (3.0% below list) — sets the bar for market timing.
• Cap rate 9.2% 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: schools D+, 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.
• Market conditions: 101 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 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 $3k of loan paydown is wiped out by about $12k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 34 days — a 3% lower offer ($377k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $290k; 34% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $377,330 (3.0% below list)

Questions for the listing agent

1. It's been on market 34 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1964 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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: 1.29% ✓
• Cap rate: 9.24%
• Cash-on-cash: 10.52%
• DSCR: 1.47
• GRM: 6.5

CMA / ARV

• ARV (on-the-fly): $362,500
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1124 187th St	0.24mi	4/2.5	2,370 (-5%)	3mo	$425,000	$179	78
851 187th St	0.24mi	4/2.5	2,379 (-5%)	10mo	$345,000	$145	73
18902 Jonathan Ln	0.21mi	4/2.0	2,357 (-6%)	10mo	$320,000	$136	71
18436 Aberdeen St	0.51mi	4/2.5	2,370 (-5%)	0mo	$410,000	$173	68
1100 186th St	0.34mi	4/2.0	2,290 (-8%)	1mo	$306,500	$134	67
19126 Pierce Ave	0.49mi	4/2.5	2,700 (+8%)	2mo	$355,000	$131	63
18749 Loomis Ave	0.45mi	4/2.5	2,700 (+8%)	6mo	$315,000	$117	61
19213 Center Ave	0.51mi	4/2.5	2,234 (-11%)	0mo	$310,000	$139	58
1147 185th St	0.46mi	4/3.5	2,757 (+10%)	1mo	$420,000	$152	56
1228 191st St	0.41mi	4/2.5	2,751 (+10%)	10mo	$425,000	$154	55
1413 Jill Ct	0.50mi	4/2.5	2,200 (-12%)	2mo	$435,000	$198	55
248 N Gay Ct	0.42mi	4/2.0	2,160 (-14%)	1mo	$295,000	$137	55

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold

• IRR: -0.5%
• Equity multiple: 0.98×
• Total profit: $-1,964
• Equity at exit: $58,001

10-year hold

• IRR: 9.3%
• Equity multiple: 1.71×
• Total profit: $77,662
• Equity at exit: $33,634

Cash invested: $108,920 (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: 6.5×

Monthly cashflow live

• Estimated rent: $5,000 medium
• Mortgage (P&I): −$2,040
• Tax from tax record: −$793 /mo · $9,519/yr
• Insurance: −$162
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,050
• Net cashflow: $955

Break-even live

Break-even rent $3,791

Max offer price $389,000

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: $97,250
• Closing costs: $11,670
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4 Richwood Ter Flossmoor, IL	4.0	2.5	3694	$5,000	$1.35	1d	1	0.97mi

Listing history 19 events

1. 2026-06-18
   days on market $389,000 Active 34 DOM
2. 2026-06-17
   days on market $389,000 Active 33 DOM
3. 2026-06-16
   days on market $389,000 Active 32 DOM
4. 2026-06-15
   days on market $389,000 Active 31 DOM
5. 2026-06-13
   days on market $389,000 Active 29 DOM
6. 2026-06-09
   days on market $389,000 Active 25 DOM
7. 2026-06-08
   days on market $389,000 Active 24 DOM
8. 2026-06-07
   days on market $389,000 Active 23 DOM
9. 2026-06-04
   days on market $389,000 Active 20 DOM
10. 2026-06-03
    days on market $389,000 Active 19 DOM
11. 2026-06-02
    days on market $389,000 Active 18 DOM
12. 2026-06-01
    days on market $389,000 Active 17 DOM
13. 2026-05-31
    days on market $389,000 Active 16 DOM
14. 2023-05-15
    soldstatus $290,000
15. 2023-05-01
    soldstatus $290,000 Closed 583-char remark

    Show marketing remark (583 chars)

    Get ready to be impressed from the moment you walk into this beautiful home. This home has a wonderful open floor plan. The main floor has the galley kitchen and eat in space, living room, dining room, and half bath. A few steps down you walk into the spacious family room with fireplace. The second floor includes 4 bedrooms and 2 full baths. The finished basement is perfect as a recreation room, play area, or entertaining space. A yard that is great for bringing the party outside or just relaxing on the deck after a long day. Award winning schools. Close to park. 2 car garage.

16. 2023-04-29
    status Pending 583-char remark

    Show marketing remark (583 chars)

    Get ready to be impressed from the moment you walk into this beautiful home. This home has a wonderful open floor plan. The main floor has the galley kitchen and eat in space, living room, dining room, and half bath. A few steps down you walk into the spacious family room with fireplace. The second floor includes 4 bedrooms and 2 full baths. The finished basement is perfect as a recreation room, play area, or entertaining space. A yard that is great for bringing the party outside or just relaxing on the deck after a long day. Award winning schools. Close to park. 2 car garage.

17. 2023-03-29
    historical Contingent - No Showings 583-char remark

    Show marketing remark (583 chars)

    Get ready to be impressed from the moment you walk into this beautiful home. This home has a wonderful open floor plan. The main floor has the galley kitchen and eat in space, living room, dining room, and half bath. A few steps down you walk into the spacious family room with fireplace. The second floor includes 4 bedrooms and 2 full baths. The finished basement is perfect as a recreation room, play area, or entertaining space. A yard that is great for bringing the party outside or just relaxing on the deck after a long day. Award winning schools. Close to park. 2 car garage.

18. 2023-03-22
    listed $284,900 Active 583-char remark

    Show marketing remark (583 chars)

    Get ready to be impressed from the moment you walk into this beautiful home. This home has a wonderful open floor plan. The main floor has the galley kitchen and eat in space, living room, dining room, and half bath. A few steps down you walk into the spacious family room with fireplace. The second floor includes 4 bedrooms and 2 full baths. The finished basement is perfect as a recreation room, play area, or entertaining space. A yard that is great for bringing the party outside or just relaxing on the deck after a long day. Award winning schools. Close to park. 2 car garage.

19. 1997-11-17
    soldstatus $150,000

ⓘ 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: $9,519 · $793/mo
• Projected year-2 tax: $9,519 · $793/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 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $60,000
• − Mortgage interest: −$21,790
• − Property taxes: −$9,519
• − Insurance: −$1,945
• − Repairs & maintenance: −$4,800
• − Management: −$4,800
• − Depreciation: −$11,316
• Taxable income: $5,830
• Est. tax owed @ 24.0%: −$1,399
• After-tax cash flow: $10,058/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

+93.3% since first listed

6 events — show timeline

• 2023-05-15 Sold (Public Records) $290,000 Public Records
• 2023-05-01 Sold (MLS) $290,000 MRED as Distributed by MLS Grid
• 2023-04-29 Pending — MRED as Distributed by MLS Grid
• 2023-03-29 Contingent — MRED as Distributed by MLS Grid
• 2023-03-22 Listed $284,900 MRED as Distributed by MLS Grid
• 1997-11-17 Sold (Public Records) $150,000 Public Records

Property tax history

+3.2%/yr

Latest (2023): $9,519 · +76.8% YoY. Source: county tax records.