16431 Honore Ave · Markham, IL 60428

$172,900

3 bd · 1.0 ba · 1,057 sqft · SingleFamily public records · 21 Days on market

Built 1960 Est $147k · 18% 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 +26.7/30.0
• Appreciation +10.0/10.0
• DSCR +9.2/10.0
• 1% rule +8.1/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +0.7/10.0
• ARV discount +0.0/15.0

Listing remarks

Move right into this recently updated home featuring a refreshed kitchen, new paint, updated baths and more! Offering 3 spacious bedrooms plus an additional 4th bedroom, this home provides flexible living options perfect for families, guests, or a home office setup. The functional layout includes plenty of storage space and multiple areas ideal for entertaining. With room to grow and updates already completed, this home is ready for its next owner to enjoy.

Key facts

• Built 1960
• Listed 21 days

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $173k.

Deal economics

• At list price, monthly cash flow is $470 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $173k).
• Recommended offer: $170k (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads 76/100 on livability (#186 in IL, #3,539 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: crime D, amenities D, employment D.
• 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: 65 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals leasing fast (median 1d 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 $18k of equity ($1k loan paydown + $17k appreciation (10.0% local appreciation)).
• At projected returns (10.0% appreciation + 3.0% rent growth), your $48k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$47k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 21 days — a 2% lower offer ($170k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $170,306 (1.5% below list)

Questions for the listing agent

1. Built in 1960 — 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 D 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: 1.31% ✓
• Cap rate: 9.56%
• Cash-on-cash: 11.66%
• DSCR: 1.52
• GRM: 6.3

CMA / ARV

• ARV (on-the-fly): $146,923
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
16221 Hermitage Ave	0.29mi	3/1.5	1,044 (-1%)	1mo	$192,000	$184	82
16300 Winchester Ave	0.23mi	3/1.0	1,012 (-4%)	2mo	$97,500	$96	81
16628 Winchester Ave	0.30mi	2/1.0 (-1)	1,134 (+7%)	1mo	$84,000	$74	68
16738 Crane Ave	0.65mi	3/1.0	1,059 (+0%)	2mo	$147,000	$139	68
16807 Wood St	0.46mi	3/1.0	985 (-7%)	0mo	$90,000	$91	67
16784 Crane Ave	0.69mi	3/1.0	1,059 (+0%)	2mo	$155,000	$146	66
16207 Justine St	0.47mi	4/2.0 (+1)	1,100 (+4%)	3mo	$215,000	$195	60
16735 Dixie Hwy	0.46mi	2/1.0 (-1)	965 (-9%)	1mo	$153,000	$159	59
16784 Trapet Ave	0.59mi	3/1.0	970 (-8%)	1mo	$96,000	$99	58
16019 Myrtle Ave	0.70mi	3/1.0	1,008 (-5%)	3mo	$70,000	$69	57
16727 Head Ave	0.57mi	3/1.5	1,150 (+9%)	1mo	$157,000	$137	56
16876 Head Ave	0.72mi	4/2.0 (+1)	1,147 (+8%)	1mo	$185,000	$161	43

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: 32.9%
• Equity multiple: 3.57×
• Total profit: $124,234
• Equity at exit: $155,762

10-year hold

• IRR: 28.4%
• Equity multiple: 8.08×
• Total profit: $342,522
• Equity at exit: $335,907

Cash invested: $48,412 (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 60428

• Home prices YoY: 8.5%
• Active inventory: 65
• Price-to-rent: 6.3×

Monthly cashflow live

• Estimated rent: $2,274 high
• Mortgage (P&I): −$907
• Tax from tax record: −$347 /mo · $4,165/yr
• Insurance: −$72
• HOA: −$0
• Vacancy / Maint / Mgmt: −$477
• Net cashflow: $470

Break-even live

Break-even rent $1,678

Max offer price $172,900

Occupancy floor 74%

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: $43,225
• Closing costs: $5,187
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
16125 Marshfield Ave Markham, IL	3.0	1.0	1043	$2,400	$2.30	1d	1	0.47mi
16751 Crane Ave Hazel Crest, IL	3.0	1.0	1200	$1,800	$1.50	1d	1	0.63mi
16901 Orchard Ridge Ave Hazel Crest, IL	4.0	2.0	1406	$2,700	$1.92	1d	1	0.84mi
16752 Artesian Ave Hazel Crest, IL	3.0	1.0	867	$2,500	$2.88	1d	1	0.85mi
2308 170th St Hazel Crest, IL	3.0	2.0	1020	$2,400	$2.35	1d	1	0.90mi
2107 171st St Unit 2107 Hazel Crest, IL	3.0	1.5	1158	$2,300	$1.99	1d	1	0.91mi
2173 171st St Hazel Crest, IL	3.0	1.5	1159	$2,350	$2.03	1d	1	0.94mi
16048 Halsted St Unit 2 Harvey, IL	3.0	1.0	1091	$1,650	$1.51	24d	1	1.38mi

Listing history 16 events

1. 2026-06-18
   days on market $172,900 Active 21 DOM
2. 2026-06-17
   days on market $172,900 Active 20 DOM
3. 2026-06-16
   days on market $172,900 Active 19 DOM
4. 2026-06-15
   days on market $172,900 Active 18 DOM
5. 2026-06-13
   days on market $172,900 Active 16 DOM
6. 2026-06-13
   days on market $172,900 Active 15 DOM
7. 2026-06-10
   price $172,900 Active 12 DOM
8. 2026-06-09
   days on market $179,900 Active 12 DOM
9. 2026-06-08
   days on market $179,900 Active 11 DOM
10. 2026-06-07
    days on market $179,900 Active 10 DOM
11. 2026-06-04
    days on market $179,900 Active 7 DOM
12. 2026-06-03
    days on market $179,900 Active 6 DOM
13. 2026-06-02
    days on market $179,900 Active 5 DOM
14. 2026-06-01
    days on market $179,900 Active 4 DOM
15. 2026-05-31
    days on market $179,900 Active 3 DOM
16. 2026-05-27
    listed $179,900 Active

ⓘ 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: $4,165 · $347/mo
• Projected year-2 tax: $4,165 · $347/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 6/10 Major FEMA zone X (shaded) · 70% 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: $27,282
• − Mortgage interest: −$9,685
• − Property taxes: −$4,165
• − Insurance: −$864
• − Repairs & maintenance: −$2,183
• − Management: −$2,183
• − Depreciation: −$5,030
• Taxable income: $3,173
• Est. tax owed @ 24.0%: −$762
• After-tax cash flow: $4,882/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 — Markham

• Score: 76/100
• State rank: #186
• US rank: #3539

Category grades

Amenities D Commute A+ Cost of living A+ Crime D Employment D Housing A+ Health & safety C+ User ratings A+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Markham, IL
• City population: 10,980
• Population (ZIP): 10,980

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: Predominantly Black (69%)
• Race & ethnicity: Black 69% Hispanic / Latino 17% White 11% Two or more races 4%
• Hispanic origin (detail): Mexican 16%
• Common ancestry: Romanian 1% Lithuanian 1% Iranian 1%
• Foreign-born: 8% · Canada
• Languages at home: 86% English-only · Spanish 14%

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: ▲ 23.63%
• Current HPI: 302.333
• 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

1 event — show timeline

• 2026-05-27 Listed $179,900 MRED as Distributed by MLS Grid

Property tax history

+44.6%/yr

Latest (2023): $4,165 · +192.8% YoY. Source: county tax records.