189 E 147th St · Harvey, IL 60426

$59,280

4 bd · 1.5 ba · 1,466 sqft · SingleFamily public records · 18 Days on market

Built 1957 Est $114k · 48% under

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

Listing remarks

Listing price $59,280 Great opportunity on this brick bungalow style home with detached 2 car garage. It offers approximately 1,466 square feet of living space with 3 bedrooms and 1.1 bathrooms. Basement. Built in 1957 repairs and updates are needed. Foundation damage. Property sold "AS-IS" without contingencies, repairs, warranties, guarantees or representation as to listing accuracy, property information, photo or other depiction included or described herein. Inspect prior bidding!!! Auction.

Key facts

• 2 garage spots
• Built 1957
• Listed 18 days

Property features AI

Finance

• HOA & community: No master association fee required

Exterior

• Parking: Detached garage with 2 garage spaces (2 total parking spaces)
• Utilities: Public water; Public sewer
• Home design: Detached single-family home; One-story
• Construction: Brick construction; Built approximately 61–70 years ago; Built before 1978
• Exterior features: Lot less than 0.25 acre; Lot dimensions: 4199

Interior

• Kitchen: Kitchen on main level, approximately 10 x 8
• Bedrooms: 3 bedrooms (all on the main level); Master bedroom on main level, approximately 15 x 13; Second bedroom on main level, approximately 13 x 12; Third bedroom on main level, approximately 13 x 11
• Bathrooms: 1 full bath; 1 half bath
• Heating & cooling: Natural gas forced-air heating
• Interior features: Unfinished full basement; 5 total rooms
• Laundry & utility: Laundry room

What this means for you Summary

Snapshot

• This is a 4-bed/1.5-bath single-family listed at $59k.

Deal economics

• At list price, monthly cash flow is $1k ($13k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $59k).
• Recommended offer: $58k (1.5% below list) — sets the bar for market timing.
• Cap rate 28.0% vs local median 9.3% in Harvey — 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 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: 133 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 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 $6k of equity ($410 loan paydown + $6k appreciation (10.0% local appreciation)).
• At projected returns (10.0% appreciation + 3.0% rent growth), your $17k cash investment doubles in ~1 year — after that, you're playing with house money.
• By year 6, 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 18 days — a 2% lower offer ($58k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1957 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $58,390 (1.5% below list)

Questions for the listing agent

1. Built in 1957 — 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 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?
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: 3.16% ✓
• Cap rate: 27.97%
• Cash-on-cash: 77.43%
• DSCR: 4.45
• GRM: 2.6

CMA / ARV

• ARV (on-the-fly): $114,348
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
14629 Kentucky Ave	0.11mi	4/2.0	1,504 (+3%)	12mo	$136,000	$90	79
111 E 144th Ct	0.37mi	3/1.5 (-1)	1,491 (+2%)	2mo	$105,000	$70	73
14459 Center Ave	0.26mi	3/1.0 (-1)	1,400 (-4%)	4mo	$35,000	$25	70
14609 Lexington Ave	0.25mi	3/1.0 (-1)	1,326 (-10%)	3mo	$45,000	$34	63
15018 Myrtle Ave	0.59mi	4/1.5	1,397 (-5%)	8mo	$88,900	$64	58
14608 Union Ave	0.26mi	3/1.0 (-1)	1,350 (-8%)	12mo	$55,500	$41	58
15018 Loomis Ave	0.54mi	4/2.0	1,400 (-4%)	9mo	$230,000	$164	57
185 E Calumet Blvd	0.41mi	4/1.5	1,270 (-13%)	11mo	$200,000	$157	50
340 Streamside Dr	0.56mi	3/1.5 (-1)	1,270 (-13%)	5mo	$142,000	$112	42
14301 S Halsted St	0.52mi	3/1.0 (-1)	1,272 (-13%)	8mo	$75,000	$59	40
14326 Parnell Ave	0.64mi	3/1.5 (-1)	1,300 (-11%)	14mo	$140,000	$108	35
1-3 E 150th St	0.65mi	4/3.0	1,673 (+14%)	14mo	$130,000	$78	28

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: 87.6%
• Equity multiple: 7.06×
• Total profit: $100,527
• Equity at exit: $53,404

10-year hold

• IRR: 82.3%
• Equity multiple: 15.61×
• Total profit: $242,449
• Equity at exit: $115,168

Cash invested: $16,598 (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: 133
• Price-to-rent: 2.6×

Monthly cashflow live

• Estimated rent: $1,874 medium
• Mortgage (P&I): −$311
• Tax est. 1.5%: −$74 /mo · $889/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$394
• Net cashflow: $1,071

Break-even live

Break-even rent $519

Max offer price $59,280

Occupancy floor 38%

Sensitivity live

Price	-10% $1,112	-5% $1,091	+0% $1,071	+5% $1,051	+10% $1,030
Rent	-10% $923	-5% $997	+0% $1,071	+5% $1,145	+10% $1,219
Rate	-1.0pp $1,101	-0.5pp $1,086	base $1,071	+0.5pp $1,056	+1.0pp $1,040

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: $14,820
• Closing costs: $1,778
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
14629 Hoyne Ave Dixmoor, IL	3.0	1.0	920	$1,495	$1.62	25d	1	1.18mi
14844 Wabash Ave Dolton, IL	3.0	1.5	1277	$2,320	$1.82	25d	1	1.24mi
14802 Cooper Ave Harvey, IL	3.0	1.5	1200	$1,700	$1.42	25d	1	1.28mi

Listing history 13 events

1. 2026-06-17
   status $59,280 Pending 18 DOM
2. 2026-06-16
   days on market $59,280 Auction 18 DOM
3. 2026-06-15
   days on market $59,280 Auction 17 DOM
4. 2026-06-13
   days on market $59,280 Auction 15 DOM
5. 2026-06-13
   days on market $59,280 Auction 14 DOM
6. 2026-06-09
   days on market $59,280 Auction 11 DOM
7. 2026-06-08
   days on market $59,280 Auction 10 DOM
8. 2026-06-07
   days on market $59,280 Auction 9 DOM
9. 2026-06-04
   days on market $59,280 Auction 6 DOM
10. 2026-06-03
    days on market $59,280 Auction 5 DOM
11. 2026-06-02
    days on market $59,280 Auction 4 DOM
12. 2026-06-01
    days on market $59,280 Auction 3 DOM
13. 2026-05-31
    days on market $59,280 Auction 2 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $22,491
• − Mortgage interest: −$3,321
• − Property taxes: −$889
• − Insurance: −$296
• − Repairs & maintenance: −$1,799
• − Management: −$1,799
• − Depreciation: −$1,725
• Taxable income: $12,662
• Est. tax owed @ 24.0%: −$3,039
• After-tax cash flow: $9,813/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

1 event — show timeline

• 2026-05-29 Listed $59,280 MRED as Distributed by MLS Grid

Property tax history

+7.6%/yr

Latest (2023): $4,942 · +8.1% YoY. Source: county tax records.