940 Holbrook Rd Unit 6A · Homewood, IL 60430

$115,000

2 bd · 1.0 ba · 950 sqft · Condo · 149 Days on market

Built 1970 $335/mo HOA · 21% of rent

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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 +18.6/30.0
• 1% rule +8.7/10.0
• ARV discount +7.5/15.0
• DSCR +5.8/10.0
• 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

There are no remarks available.

Key facts

• Updated kitchen
• Walk-in shower
• $335 HOA

Tags

• UPDATED KITCHEN
• PANTRY OFF DINING AREA
• WALK-IN SHOWER
• PATIO OFF LIVING ROOM
• ADDITIONAL STORAGE UNIT
• NEWLY ADDED SECURITY CAMERAS

Property features AI

Finance

• Other: 108 units in the building; Living area reported by landlord/tenant/seller; Directions: Halsted or Riegel Road to Holbrook to 940 Holbrook Rd.
• Financial info: Special service area: No
• HOA & community: Monthly association fee of $335; Association fee covers parking, insurance, security, exercise facilities, exterior maintenance, lawn care, garbage collection, and snow removal; Self-managed association; Pets not allowed

Exterior

• Parking: Two parking spaces total; Asphalt surface; unassigned parking
• Security: Security included in association services
• Utilities: Water source: Lake Michigan; Public sewer and storm sewer
• Home design: Attached single condominium; Entry level: 1
• Construction: Brick construction; Built approximately 51–60 years ago; Built before 1978
• Exterior features: Common lot; Access to commuter bus and commuter train; Interstate access; Adult community

Interior

• Kitchen: Range; Microwave; Dishwasher; Refrigerator
• Bedrooms: Master bedroom on main level (approximately 14 x 10) with carpet; Second bedroom on main level (approximately 14 x 10) with carpet; Additional bedroom(s) noted
• Flooring: Carpet in bedrooms and living room
• Bathrooms: One full bathroom
• Heating & cooling: Electric heating; Central air conditioning
• Interior features: Five total rooms; Kitchen/dining combo
• Laundry & utility: Laundry in common area

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $115k.

Deal economics

• At list price, monthly cash flow is $111 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $115k).
• Recommended offer: $101k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.5% vs local median 6.1% in Homewood — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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 $795 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 149 days — a 12% lower offer ($101k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 4y ago; this cycle's ask has dropped $10k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: HOA is 21% of rent.

Recommended offer $101,200 (12.0% below list)

Questions for the listing agent

1. It's been on market 149 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 1970 — 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. 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.
9. 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.
10. 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: 1.37% ✓
• Cap rate: 7.45%
• Cash-on-cash: 4.14%
• DSCR: 1.18
• GRM: 6.1

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: -9.6%
• Equity multiple: 0.65×
• Total profit: $-11,324
• Equity at exit: $17,147

10-year hold

• IRR: 0.1%
• Equity multiple: 1.01×
• Total profit: $189
• Equity at exit: $9,943

Cash invested: $32,200 (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: 6.1×

Monthly cashflow live

• Estimated rent: $1,571 medium
• Mortgage (P&I): −$603
• Tax est. 1.5%: −$144 /mo · $1,725/yr
• Insurance: −$48
• HOA: −$335
• Vacancy / Maint / Mgmt: −$330
• Net cashflow: $111

Break-even live

Break-even rent $1,430

Max offer price $115,000

Occupancy floor 88%

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: $28,750
• Closing costs: $3,450
• 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: $335 · $4,020/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 34 events

1. 2026-06-18
   days on market $115,000 Active 149 DOM
2. 2026-06-17
   days on market $115,000 Active 148 DOM
3. 2026-06-16
   days on market $115,000 Active 147 DOM
4. 2026-06-15
   days on market $115,000 Active 146 DOM
5. 2026-06-13
   days on market $115,000 Active 144 DOM
6. 2026-06-09
   days on market $115,000 Active 140 DOM
7. 2026-06-08
   days on market $115,000 Active 139 DOM
8. 2026-06-07
   days on market $115,000 Active 138 DOM
9. 2026-06-04
   days on market $115,000 Active 135 DOM
10. 2026-06-03
    days on market $115,000 Active 134 DOM
11. 2026-06-02
    days on market $115,000 Active 133 DOM
12. 2026-06-01
    days on market $115,000 Active 132 DOM
13. 2026-05-31
    days on market $115,000 Active 131 DOM
14. 2026-04-30
    status Active
15. 2026-04-24
    historical Contingent - Continue to Show
16. 2026-03-24
    price $120,000
17. 2026-02-18
    price $122,000
18. 2026-01-19
    listed $124,900 Active
19. 2024-09-13
    soldstatus $108,000
20. 2024-09-09
    soldstatus $108,000 Closed 31-char remark

    Show marketing remark (31 chars)

    There are no remarks available.

21. 2024-08-12
    historical Contingent - Continue to Show 31-char remark

    Show marketing remark (31 chars)

    There are no remarks available.

22. 2024-08-03
    listed $110,000 Active 31-char remark

    Show marketing remark (31 chars)

    There are no remarks available.

23. 2023-01-24
    soldstatus $127,500
24. 2023-01-20
    soldstatus $84,900 Closed 725-char remark

    Show marketing remark (725 chars)

    BEAUTIFUL 1st floor, move-in ready, 2 bedroom 1 bathroom condo with a garage in Cameo Condominiums 55+ community. Perfect 1st floor location. Updated kitchen with recessed lighting and a pantry off the dining area for extra kitchen storage. Bathroom features a walk in shower with hand rails and a comfort height toilet. Additional storage only a few doors away specific to the unit. Close to the laundry room too. Each wing on each floor of the building has a laundry room. Great building with welcoming community in a prime location! Property selling AS IS however the seller is offering a 1 year Platinum Level Home Warranty through HWA valued at $575. Conventional Financing or Cash Only. No pets or rentals per the HOA.

25. 2023-01-10
    status Pending 725-char remark

    Show marketing remark (725 chars)

    BEAUTIFUL 1st floor, move-in ready, 2 bedroom 1 bathroom condo with a garage in Cameo Condominiums 55+ community. Perfect 1st floor location. Updated kitchen with recessed lighting and a pantry off the dining area for extra kitchen storage. Bathroom features a walk in shower with hand rails and a comfort height toilet. Additional storage only a few doors away specific to the unit. Close to the laundry room too. Each wing on each floor of the building has a laundry room. Great building with welcoming community in a prime location! Property selling AS IS however the seller is offering a 1 year Platinum Level Home Warranty through HWA valued at $575. Conventional Financing or Cash Only. No pets or rentals per the HOA.

26. 2022-12-15
    historical Contingent - Continue to Show 725-char remark

    Show marketing remark (725 chars)

    BEAUTIFUL 1st floor, move-in ready, 2 bedroom 1 bathroom condo with a garage in Cameo Condominiums 55+ community. Perfect 1st floor location. Updated kitchen with recessed lighting and a pantry off the dining area for extra kitchen storage. Bathroom features a walk in shower with hand rails and a comfort height toilet. Additional storage only a few doors away specific to the unit. Close to the laundry room too. Each wing on each floor of the building has a laundry room. Great building with welcoming community in a prime location! Property selling AS IS however the seller is offering a 1 year Platinum Level Home Warranty through HWA valued at $575. Conventional Financing or Cash Only. No pets or rentals per the HOA.

27. 2022-12-05
    listed $84,900 Active 725-char remark

    Show marketing remark (725 chars)

    BEAUTIFUL 1st floor, move-in ready, 2 bedroom 1 bathroom condo with a garage in Cameo Condominiums 55+ community. Perfect 1st floor location. Updated kitchen with recessed lighting and a pantry off the dining area for extra kitchen storage. Bathroom features a walk in shower with hand rails and a comfort height toilet. Additional storage only a few doors away specific to the unit. Close to the laundry room too. Each wing on each floor of the building has a laundry room. Great building with welcoming community in a prime location! Property selling AS IS however the seller is offering a 1 year Platinum Level Home Warranty through HWA valued at $575. Conventional Financing or Cash Only. No pets or rentals per the HOA.

28. 2022-12-05
    historical

    Show marketing remark (725 chars)

    BEAUTIFUL 1st floor, move-in ready, 2 bedroom 1 bathroom condo with a garage in Cameo Condominiums 55+ community. Perfect 1st floor location. Updated kitchen with recessed lighting and a pantry off the dining area for extra kitchen storage. Bathroom features a walk in shower with hand rails and a comfort height toilet. Additional storage only a few doors away specific to the unit. Close to the laundry room too. Each wing on each floor of the building has a laundry room. Great building with welcoming community in a prime location! Property selling AS IS however the seller is offering a 1 year Platinum Level Home Warranty through HWA valued at $575. Conventional Financing or Cash Only. No pets or rentals per the HOA.

29. 2022-10-21
    price
30. 2022-10-04
    status Active
31. 2022-08-31
    historical Contingent - Continue to Show
32. 2022-08-19
    listed Active
33. 2004-07-02
    soldstatus $78,500
34. 1994-11-15
    soldstatus $57,000

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

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: $18,849
• − Mortgage interest: −$6,442
• − Property taxes: −$1,725
• − Insurance: −$575
• − Repairs & maintenance: −$1,508
• − Management: −$1,508
• − HOA: −$4,020
• − Depreciation: −$3,345
• Taxable loss: −$274
• Est. tax savings @ 24.0%: +$66
• After-tax cash flow: $1,400/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

+110.5% since first listed

21 events — show timeline

• 2026-04-30 Relisted — MRED as Distributed by MLS Grid
• 2026-04-24 Contingent — MRED as Distributed by MLS Grid
• 2026-03-24 Price Changed $120,000 MRED as Distributed by MLS Grid
• 2026-02-18 Price Changed $122,000 MRED as Distributed by MLS Grid
• 2026-01-19 Listed $124,900 MRED as Distributed by MLS Grid
• 2024-09-13 Sold (Public Records) $108,000 Public Records
• 2024-09-09 Sold (MLS) $108,000 MRED as Distributed by MLS Grid
• 2024-08-12 Contingent — MRED as Distributed by MLS Grid
• 2024-08-03 Listed $110,000 MRED as Distributed by MLS Grid
• 2023-01-24 Sold (Public Records) $127,500 Public Records
• 2023-01-20 Sold (MLS) $84,900 MRED as Distributed by MLS Grid
• 2023-01-10 Pending — MRED as Distributed by MLS Grid
• 2022-12-15 Contingent — MRED as Distributed by MLS Grid
• 2022-12-05 Listing Removed — MRED as Distributed by MLS Grid
• 2022-12-05 Listed $84,900 MRED as Distributed by MLS Grid
• 2022-10-21 Price Changed — MRED as Distributed by MLS Grid
• 2022-10-04 Relisted — MRED as Distributed by MLS Grid
• 2022-08-31 Contingent — MRED as Distributed by MLS Grid
• 2022-08-19 Listed — MRED as Distributed by MLS Grid
• 2004-07-02 Sold (Public Records) $78,500 Public Records
• 1994-11-15 Sold (Public Records) $57,000 Public Records

Property tax history

-25.6%/yr

Latest (2017): $22 · -45.0% YoY. Source: county tax records.