13 Riegel Oaks Ln · Homewood, IL 60430

$349,900

3 bd · 2.0 ba · 1,301 sqft · SingleFamily public records · 44 Days on market

Built 1957 0.93 ac lot Est $251k · 39% over

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Why this score? — see what drove the F 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 +8.0/30.0
• Livability +4.0/5.0
• 1% rule +3.2/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.4/10.0
• DSCR +2.1/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks

WHAT?!? WATERFRONT PROPERTY IN HOMEWOOD! Fabulous 1 acre property with dock and access to a large pond - paddle around, ice skate or fish right in your backyard! The home is set up on a hill with beautiful view from the multilevel deck! The home has a great layout - a large living room and eat-in kitchen, and a full bedroom suite on the main floor, and a family room with fireplace, storage and another updated full bedroom suite in the walkout lower level. There is both an attached garage, and a separate heated garage - perfect for a workshop, craft-shed or space for that special vehicle! New furnace, A/C, Water heater, Roof, Deck Refinishing, Kitchen Appliances all less than ten years.

Key facts

• 0.93 acre lot
• 3 garage spots
• Built 1957

Property features AI

Finance

• Other: Parcel number 32053110070000
• HOA & community: No master association fee required

Exterior

• Parking: Attached and detached garage space totaling 3 parking spots; Owned garage
• Utilities: Lake Michigan water source; Septic tank sewer
• Home design: Detached single-family home; Hillside setting; Fee simple ownership; Built 61–70 years ago; Home built before 1978
• Construction: Aluminum siding; Living area per plans
• Exterior features: Waterfront on Lake Michigan; Property offers school bus service, commuter bus and commuter train access, and nearby interstate access; Lot dimensions approximately 147 x 270

Interior

• Kitchen: Kitchen with fireplace
• Bedrooms: Master bedroom on main level (15 x 21); Additional bedrooms including one in the walkout basement (15 x 21)
• Flooring: Carpet in living room, family room and dining room
• Bathrooms: Two full bathrooms; Basement bathroom present
• Heating & cooling: Natural gas heating; Central air conditioning
• Interior features: Finished walk-out basement; Six total rooms; One fireplace located in the kitchen
• Laundry & utility: Laundry room in walkout basement (15 x 15)

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $350k.

Deal economics

• At list price, monthly cash flow is $-355 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $287k (17.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $287k (17.9% below list).
• Recommended offer: $287k (17.9% below list) — sets the bar for 1% rule.

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; 5 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 $2k of loan paydown is wiped out by about $10k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 44 days — a 3% lower offer ($339k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $25k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $123k; list at $350k implies a 184% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1957 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $287,201 (17.9% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 44 days. Have you received any prior offers? Is the seller open to a 18% concession, seller financing, or rate buy-down credit?
3. Built in 1957 — 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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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 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: 0.82% ✗
• Cap rate: 5.08%
• Cash-on-cash: -4.35%
• DSCR: 0.81
• GRM: 10.2

CMA / ARV

• ARV (on-the-fly): $251,093
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
18823 Ashland Ave	0.22mi	4/2.0 (+1)	1,418 (+9%)	1mo	$250,000	$176	69
18623 Marshfield Ave	0.53mi	3/2.0	1,320 (+2%)	5mo	$255,000	$193	68
1832 187th St	0.55mi	3/1.5	1,309 (+1%)	6mo	$125,000	$95	66
1822 W 187th St	0.53mi	3/2.0	1,364 (+5%)	5mo	$160,000	$117	63
18521 Homewood Ave	0.71mi	3/2.0	1,304 (+0%)	6mo	$279,000	$214	62
1522 186th St	0.53mi	3/1.0	1,209 (-7%)	3mo	$226,000	$187	57
830 Latimer Ln	0.64mi	3/2.0	1,382 (+6%)	5mo	$232,000	$168	55
1307 Thomas St	0.32mi	4/2.0 (+1)	1,487 (+14%)	1mo	$319,000	$215	55
1041 Coach Rd	0.69mi	4/2.0 (+1)	1,407 (+8%)	2mo	$289,000	$205	47
18630 Highland Ave	0.60mi	3/1.5	1,485 (+14%)	2mo	$270,000	$182	45
18439 Marshfield Ave	0.68mi	4/2.0 (+1)	1,184 (-9%)	7mo	$350,000	$296	43
18521 Highland Ave	0.68mi	2/1.0 (-1)	1,198 (-8%)	6mo	$249,000	$208	41

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: -23.6%
• Equity multiple: 0.19×
• Total profit: $-79,133
• Equity at exit: $52,171

10-year hold

• IRR: -18.3%
• Equity multiple: 0.01×
• Total profit: $-97,324
• Equity at exit: $30,253

Cash invested: $97,972 (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 60430

• Home prices YoY: -32.1%
• Active inventory: 101
• Price-to-rent: 10.2×

Monthly cashflow live

• Estimated rent: $2,872 medium
• Mortgage (P&I): −$1,835
• Tax from tax record: −$643 /mo · $7,717/yr
• Insurance: −$146
• HOA: −$0
• Vacancy / Maint / Mgmt: −$603
• Net cashflow: $-355

Break-even live

Break-even rent $3,321

Max offer price $287,205

Occupancy floor —

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: $87,475
• Closing costs: $10,497
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1332 Jamie Ln Homewood, IL	4.0	2.5	1576	$3,171	$2.01	24d	1	0.34mi
1601 183rd St Unit 1237861P Homewood, IL	3.0	1.5	1528	$8,665	$5.67	21d	1	0.91mi
1802 Evergreen Rd Homewood, IL	4.0	2.0	1716	$2,836	$1.65	6d	1	0.94mi
18117 Loomis Ave Homewood, IL	4.0	2.0	1500	$2,800	$1.87	3d	1	1.15mi
2420 183rd St Homewood, IL	2.0	1.0	1100	$1,750	$1.59	10d	1	1.46mi

Listing history 17 events

1. 2026-06-18
   days on market $349,900 Active 44 DOM
2. 2026-06-17
   days on market $349,900 Active 43 DOM
3. 2026-06-16
   days on market $349,900 Active 42 DOM
4. 2026-06-15
   days on market $349,900 Active 41 DOM
5. 2026-06-13
   pricedays on market $349,900 Active 39 DOM
6. 2026-06-09
   days on market $374,900 Active 35 DOM
7. 2026-06-08
   days on market $374,900 Active 34 DOM
8. 2026-06-07
   days on market $374,900 Active 33 DOM
9. 2026-06-04
   days on market $374,900 Active 30 DOM
10. 2026-06-03
    days on market $374,900 Active 29 DOM
11. 2026-06-02
    days on market $374,900 Active 28 DOM
12. 2026-06-01
    days on market $374,900 Active 27 DOM
13. 2026-05-31
    days on market $374,900 Active 26 DOM
14. 2026-05-05
    historical
15. 2026-05-05
    listed $374,900 Active
16. 2026-02-26
    listed Active
17. 1988-06-14
    soldstatus $123,000

ⓘ 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: $7,717 · $643/mo
• Projected year-2 tax: $7,830 · $652/mo
• Expected delta: +$113/yr (+$9/mo · 1.5%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 82% 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 0% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $34,464
• − Mortgage interest: −$19,600
• − Property taxes: −$7,717
• − Insurance: −$1,750
• − Repairs & maintenance: −$2,757
• − Management: −$2,757
• − Depreciation: −$10,179
• Taxable loss: −$10,295
• Est. tax savings @ 24.0%: +$2,471
• After-tax cash flow: $-1,788/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

• 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

+204.8% since first listed

4 events — show timeline

• 2026-05-05 Listed $374,900 MRED as Distributed by MLS Grid
• 2026-05-05 Listing Removed — MRED as Distributed by MLS Grid
• 2026-02-26 Listed — MRED as Distributed by MLS Grid
• 1988-06-14 Sold (Public Records) $123,000 Public Records

Property tax history

+4.1%/yr

Latest (2023): $7,717 · +52.3% YoY. Source: county tax records.