940 Holbrook Rd Unit 26C · Homewood, IL 60430

$116,000

2 bd · 1.0 ba · 900 sqft · Condo · 153 Days on market

Built 1971 $318/mo HOA · 20% of rent

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Why this score? — see what drove the D+ 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 +15.6/30.0
• 1% rule +8.4/10.0
• ARV discount +7.5/15.0
• DSCR +4.8/10.0
• 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

Two bedroom, third floor unit. With view of woods. Flexicore makes it quiet and fireproof. New window and patio door. Decorative fireplace in living room, dining room area. Laundry on each floor, plus exercise room and storage unit. Great price, low taxes! Don't wait, call today. 55 and older adult community.

Key facts

• Private balcony
• New flooring
• Convenient access

Tags

• PRIVATE BALCONY
• SCENIC VIEWS
• NEW FLOORING
• FRESHLY PAINTED
• CONVENIENT ACCESS
• LOCAL AMENITIES

Property features AI

Finance

• Other: 108 total units in the building; Living area per assessor; Parcel number available; Directions: Halsted to Holbrook, west to the property
• Financial info: Special service area: No; Tax exemptions noted for Homeowner, Senior, and Senior Freeze
• HOA & community: Monthly association fee of $318; Association fee covers water, insurance, exercise facilities, exterior maintenance, lawn care, scavenger (trash), and snow removal; Association amenities include patio, picnic area, school bus service, screened porch, security lighting, trails, and wheelchair-oriented features; On-site manager; Pets not allowed

Exterior

• Parking: One parking space (total); Asphalt parking; Off-street and off-alley parking; Unassigned and guest parking; Basement parking (owned)
• Security: On-site manager; Security lighting
• Utilities: Lake Michigan and public water; Public sewer; Cable available
• Home design: Attached single condo; Condo ownership; Entry level: 2nd floor; Accessible / disability equipped; Built approximately 51–60 years ago; Commuter bus and interstate access nearby; Adult community
• Construction: Brick construction; Concrete perimeter foundation; Built before 1978
• Exterior features: Balcony; Patio; Picnic area; Screened porch; Security lighting; Trails; Wheelchair oriented access

Interior

• Kitchen: Range; Refrigerator; Kitchen and dining combined
• Bedrooms: Master bedroom on main level (12 x 16); Second bedroom on main level (10 x 16); Two additional bedrooms
• Flooring: Vinyl flooring in living room, kitchen, dining room and bedrooms
• Bathrooms: One full bathroom
• Heating & cooling: Electric heat; Central air conditioning
• Interior features: Five total rooms; Soaking tub
• Laundry & utility: Laundry room; Gas dryer hookup; Common area laundry; Electric water heater

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $116k.

Deal economics

• At list price, monthly cash flow is $49 ($590/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $116k).
• Recommended offer: $102k (12.0% below list) — sets the bar for market timing.

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; 4 comparable units currently listed for rent nearby; rentals leasing fast (median 5d 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 $802 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 153 days — a 12% lower offer ($102k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 9y 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 $38k; list at $116k implies a 205% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 20% of rent.

Recommended offer $102,080 (12.0% below list)

Questions for the listing agent

1. It's been on market 153 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1971 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. 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.
10. 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.
11. 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: 1.34% ✓
• Cap rate: 6.80%
• Cash-on-cash: 1.82%
• DSCR: 1.08
• GRM: 6.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -13.1%
• Equity multiple: 0.53×
• Total profit: $-15,410
• Equity at exit: $17,296

10-year hold

• IRR: -3.8%
• Equity multiple: 0.74×
• Total profit: $-8,345
• Equity at exit: $10,030

Cash invested: $32,480 (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: 6.2×

Monthly cashflow live

• Estimated rent: $1,557 medium
• Mortgage (P&I): −$608
• Tax from tax record: −$207 /mo · $2,478/yr
• Insurance: −$48
• HOA: −$318
• Vacancy / Maint / Mgmt: −$327
• Net cashflow: $49

Break-even live

Break-even rent $1,495

Max offer price $116,000

Occupancy floor 92%

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: $29,000
• Closing costs: $3,480
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
44 N Glenwood Ave Glenwood, IL	1.0	1.0	700	$1,900	$2.71	1d	1	1.29mi
531 Wallace St Chicago Heights, IL	3.0	1.0	1100	$2,000	$1.82	5d	1	1.31mi
723 Grant Ave Unit 2F Chicago Heights, IL	1.0	1.0	700	$1,100	$1.57	15d	1	1.48mi
723 Grant Ave Unit 3C Chicago Heights, IL	1.0	1.0	700	$1,100	$1.57	1d	1	1.48mi

HOA detail condo

• Monthly dues: $318 · $3,816/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 13 events

1. 2026-06-18
   days on market $116,000 Active 153 DOM
2. 2026-06-17
   days on market $116,000 Active 152 DOM
3. 2026-06-16
   days on market $116,000 Active 151 DOM
4. 2026-06-15
   days on market $116,000 Active 150 DOM
5. 2026-06-13
   days on market $116,000 Active 148 DOM
6. 2026-06-09
   days on market $116,000 Active 144 DOM
7. 2026-06-08
   days on market $116,000 Active 143 DOM
8. 2026-06-07
   days on market $116,000 Active 142 DOM
9. 2026-06-04
   days on market $116,000 Active 139 DOM
10. 2026-06-03
    days on market $116,000 Active 138 DOM
11. 2026-06-02
    days on market $116,000 Active 137 DOM
12. 2026-06-01
    days on market $116,000 Active 136 DOM
13. 2026-05-31
    days on market $116,000 Active 135 DOM

ⓘ 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: $2,478 · $207/mo
• Projected year-2 tax: $2,556 · $213/mo
• Expected delta: +$77/yr (+$6/mo · 3.1%)

ⓘ 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 · 14 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: $18,688
• − Mortgage interest: −$6,498
• − Property taxes: −$2,478
• − Insurance: −$580
• − Repairs & maintenance: −$1,495
• − Management: −$1,495
• − HOA: −$3,816
• − Depreciation: −$3,375
• Taxable loss: −$1,048
• Est. tax savings @ 24.0%: +$252
• After-tax cash flow: $841/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

+82.0% since first listed

10 events — show timeline

• 2026-05-29 Relisted — MRED as Distributed by MLS Grid
• 2026-05-15 Listing Removed — MRED as Distributed by MLS Grid
• 2026-04-30 Price Changed $116,500 MRED as Distributed by MLS Grid
• 2026-03-27 Price Changed $118,000 MRED as Distributed by MLS Grid
• 2025-01-02 Listed $120,000 MRED as Distributed by MLS Grid
• 2017-09-06 Sold (Public Records) $38,000 Public Records
• 2017-08-30 Sold (MLS) $38,000 MRED as Distributed by MLS Grid
• 2017-07-01 Pending — MRED as Distributed by MLS Grid
• 2017-04-11 Listed $43,000 MRED as Distributed by MLS Grid
• 1995-09-29 Sold (Public Records) $64,000 Public Records

Property tax history

+6.1%/yr

Latest (2018): $2,478 · +837.3% YoY. Source: county tax records.