15112 Honore Ave · Harvey, IL 60426

$110,000

3 bd · 1.0 ba · 874 sqft · SingleFamily public records · 96 Days on market

Built 1954

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Why this score? — see what drove the B+ 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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +0.7/10.0

Listing remarks

SOLD AS IS * * The home features three well-sized bedrooms, a welcoming living space, and a layout that offers both comfort and functionality. With a little creativity and vision, this property can easily be transformed into a wonderful place to call home or a great investment opportunity. Being sold as-is, this home is ideal for buyers looking to build equity, investors, or anyone excited about bringing new life to a property with character. Don't miss the chance to turn this hidden gem into something special! There is currently a tenant living in the home but will be moving soon.

Key facts

• 2 garage spots
• Built 1954
• Listed 96 days

Property features AI

Finance

• Other: Ownership: Fee simple; Not rebuilt or rehabilitated
• Financial info: Special service area: No
• HOA & community: No master association fee required

Exterior

• Parking: Detached garage (2 garage spaces, 2 total parking spaces)
• Utilities: Lake Michigan water source; Public sewer
• Home design: Detached single-family home; One-story
• Construction: Vinyl siding; Built 71-80 years ago; Built before 1978
• Exterior features: Lot smaller than 0.25 acre; Lot dimensions: 6250

Interior

• Kitchen: Kitchen on main level (10 x 15)
• Bedrooms: Master bedroom on main level (12 x 10); Two additional bedrooms on main level (each 9 x 12)
• Bathrooms: One full bathroom
• Heating & cooling: Natural gas heating; Window air conditioning units
• Interior features: Five total rooms; Dining room; Family room; Living room (15 x 15)
• Laundry & utility: Laundry room

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $110k.

Deal economics

• At list price, monthly cash flow is $636 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $110k).
• Recommended offer: $100k (9.0% below list) — sets the bar for market timing.
• Cap rate 13.2% 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: 134 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 6,272 units permitted in Cook County in 2024 (4,658 in 5+ unit buildings).

Forward outlook

• In year one you build about $12k of equity ($761 loan paydown + $11k appreciation (10.0% local appreciation)).
• At projected returns (10.0% appreciation + 3.0% rent growth), your $31k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$42k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 96 days — a 9% lower offer ($100k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1954 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $100,100 (9.0% below list)

Questions for the listing agent

1. It's been on market 96 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1954 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
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: 1.61% ✓
• Cap rate: 13.23%
• Cash-on-cash: 24.79%
• DSCR: 2.10
• GRM: 5.2

CMA / ARV

• ARV (on-the-fly): $62,928
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
15133 S Honore Ave	0.06mi	3/1.0	900 (+3%)	0mo	$149,900	$167	92
15125 Marshfield Ave S	0.28mi	3/1.0	900 (+3%)	3mo	$127,500	$142	80
15028 Lincoln Ave	0.11mi	3/1.0	836 (-4%)	10mo	$30,000	$36	79
14921 Lincoln Ave	0.24mi	3/1.0	900 (+3%)	6mo	$149,900	$167	79
14911 Page Ave	0.30mi	3/1.5	923 (+6%)	2mo	$110,000	$119	73
15112 Vine Ave	0.40mi	3/1.0	912 (+4%)	7mo	$43,000	$47	68
14727 Wood St	0.48mi	3/1.5	900 (+3%)	6mo	$60,000	$67	65
189 W 156th Pl	0.68mi	3/1.0	900 (+3%)	3mo	$37,000	$41	61
15024 Western Ave	0.70mi	2/1.0 (-1)	900 (+3%)	3mo	$18,000	$20	55
14839 Cooper Ave	0.47mi	3/1.0	992 (+14%)	6mo	$42,000	$42	50
14920 Hoyne Ave S	0.39mi	2/1.0 (-1)	1,000 (+14%)	9mo	$85,000	$85	45
14918 Western Ave	0.73mi	2/1.0 (-1)	1,000 (+14%)	1mo	$72,000	$72	36

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: 42.9%
• Equity multiple: 4.26×
• Total profit: $100,458
• Equity at exit: $99,097

10-year hold

• IRR: 37.1%
• Equity multiple: 9.57×
• Total profit: $264,024
• Equity at exit: $213,706

Cash invested: $30,800 (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: 134
• Price-to-rent: 5.2×

Monthly cashflow live

• Estimated rent: $1,772 medium
• Mortgage (P&I): −$577
• Tax from tax record: −$141 /mo · $1,691/yr
• Insurance: −$46
• HOA: −$0
• Vacancy / Maint / Mgmt: −$372
• Net cashflow: $636

Break-even live

Break-even rent $967

Max offer price $110,000

Occupancy floor 59%

Sensitivity live

Price	-10% $698	-5% $667	+0% $636	+5% $605	+10% $574
Rent	-10% $496	-5% $566	+0% $636	+5% $706	+10% $776
Rate	-1.0pp $692	-0.5pp $664	base $636	+0.5pp $608	+1.0pp $579

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: $27,500
• Closing costs: $3,300
• Reserves months: —
• Total cash needed: —

Rent comps 2 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	0.65mi
16125 Marshfield Ave Markham, IL	3.0	1.0	1043	$2,400	$2.30	2d	1	1.30mi

Listing history 15 events

1. 2026-06-18
   days on market $110,000 Active 96 DOM
2. 2026-06-17
   days on market $110,000 Active 95 DOM
3. 2026-06-16
   days on market $110,000 Active 94 DOM
4. 2026-06-15
   days on market $110,000 Active 93 DOM
5. 2026-06-13
   days on market $110,000 Active 91 DOM
6. 2026-06-13
   days on market $110,000 Active 90 DOM
7. 2026-06-09
   days on market $110,000 Active 87 DOM
8. 2026-06-08
   days on market $110,000 Active 86 DOM
9. 2026-06-07
   days on market $110,000 Active 85 DOM
10. 2026-06-04
    days on market $110,000 Active 82 DOM
11. 2026-06-03
    days on market $110,000 Active 81 DOM
12. 2026-06-02
    days on market $110,000 Active 80 DOM
13. 2026-06-01
    days on market $110,000 Active 79 DOM
14. 2026-05-31
    days on market $110,000 Active 78 DOM
15. 2026-03-14
    listed $110,000 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: $1,691 · $141/mo
• Projected year-2 tax: $2,094 · $175/mo
• Expected delta: +$403/yr (+$34/mo · 23.8%)

ⓘ 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 ≥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: $21,263
• − Mortgage interest: −$6,162
• − Property taxes: −$1,691
• − Insurance: −$550
• − Repairs & maintenance: −$1,701
• − Management: −$1,701
• − Depreciation: −$3,200
• Taxable income: $6,258
• Est. tax owed @ 24.0%: −$1,502
• After-tax cash flow: $6,132/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

• 2026-03-14 Listed $110,000 MRED as Distributed by MLS Grid

Property tax history

-1.5%/yr

Latest (2023): $1,691 · +108.4% YoY. Source: county tax records.