636 Homewood Ave · Highland Park, IL 60035

$449,000

4 bd · 2.0 ba · 1,838 sqft · SingleFamily public records · 93 Days on market

Built 1930 8,276 sqft lot Est $579k · 22% under

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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 +15.0/30.0
• ARV discount +15.0/15.0
• Schools +5.9/10.0
• 1% rule +5.1/10.0
• DSCR +4.6/10.0
• Rent growth +4.6/5.0
• Livability +4.3/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Walk to town, train & Sunset Park from this legal non-conforming 2 flat. Each apt has 2 bedrooms and one bath. Longtime tenants (24 years & 10 years) would love to stay. Rents could be higher. 1st floor unit could be duplexed into basement to create nice owners unit. Needs TLC but the price reflects. Large basement for storage. Large parking pad for 6+ cars. Newer windows, siding & roof. Sold "as is" condition.

Key facts

• Near hospital
• Near town
• Basement

Tags

• BASEMENT
• LARGE PARKING LOT
• NEAR TOWN
• NEAR TRAIN
• NEAR PARK
• NEAR HOSPITAL

Property features AI

Finance

• Other: 2 units in the building; Lot under 0.25 acre (County records)
• Financial info: Special service area: No; One unit currently rents for $1,300 (tenant pays electricity); One unit currently rents for $1,200 (tenant pays electricity); Units are month-to-month

Exterior

• Parking: Parking lot with space for 4 vehicles
• Utilities: Public water; Public sewer
• Home design: Two- to four-unit property; Fee simple ownership; Built 91–100 years ago; Built before 1978
• Construction: Vinyl siding and other exterior materials; Asphalt roof; Not recently rebuilt or rehabbed
• Exterior features: Patio

Interior

• Kitchen: Stove; Refrigerator
• Bedrooms: 4 bedrooms
• Bathrooms: 2 full bathrooms
• Heating & cooling: Other heating
• Interior features: 9 total rooms; Unfinished full basement

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $449k.

Deal economics

• At list price, monthly cash flow is $140 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $449k).
• Recommended offer: $409k (9.0% below list) — sets the bar for market timing.
• Cap rate 6.7% vs local median 1.4% in Highland Park — 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 86/100 on livability (#23 in IL, #430 nationally) — a professional / high-income tenant draw. Strengths: crime A+, amenities A+, commute A+; Watch: cost of living F.
• Twp Hsd 113 (suburban): math 60% / reading 63% proficiency, ranked #19 of 620 in IL (top 3%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Indian Trail Elem School (math 67% / reading 62%, grade B, #39 of 2,056 statewide, top 2%, 476 students, 0% FRL); Highland Park High School (math 53% / reading 57%, grade C, #27 of 693 statewide, top 4%, 1,739 students, 0% FRL).
• Market conditions: Rents rising fast (+8.6%/yr); 122 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals at typical pace (median 18d on market — plan ~3-4 weeks tenant-placement turnaround); high-income renter base; 948 units permitted in Lake County in 2024 (424 in 5+ unit buildings).
• This rent runs 32% of the median local income ($168k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $13k of value loss. Plan a longer hold.
• Lake County population projected to shrink 8% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• It's been on market 93 days — a 9% lower offer ($409k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 12y ago; this cycle's ask has dropped $50k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $236k; list at $449k implies a 90% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $408,590 (9.0% below list)

Questions for the listing agent

1. It's been on market 93 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 1930 — 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 A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
6. 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.
7. 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.
8. 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: 1.01% ✓
• Cap rate: 6.67%
• Cash-on-cash: 1.33%
• DSCR: 1.06
• GRM: 8.3

CMA / ARV

• ARV (on-the-fly): $578,970
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1974 Elmwood Dr	0.42mi	4/2.5	1,871 (+2%)	6mo	$589,000	$315	70
1767 Clifton Ave	0.43mi	3/2.0 (-1)	1,890 (+3%)	5mo	$535,000	$283	66
1984 Sunset Rd	0.22mi	4/3.0	1,715 (-7%)	12mo	$625,000	$364	64
1703 Beverly Pl	0.60mi	4/2.5	1,936 (+5%)	11mo	$505,000	$261	52
415 Bloom St	0.74mi	3/2.0 (-1)	1,878 (+2%)	9mo	$499,000	$266	50
385 Park Ave	0.43mi	4/3.0	2,112 (+15%)	2mo	$850,000	$402	49
966 Princeton Ave	0.50mi	3/3.0 (-1)	1,840 (+0%)	23mo	$665,000	$361	48
1956 Beverly Pl	0.46mi	4/1.5	1,722 (-6%)	22mo	$479,000	$278	48
1735 Elmwood Dr	0.52mi	3/2.5 (-1)	1,660 (-10%)	12mo	$720,000	$434	42
1202 Taylor Ave	0.73mi	3/2.0 (-1)	2,023 (+10%)	3mo	$360,000	$178	42
1566 Mcdaniels Ave	0.61mi	4/2.5	2,046 (+11%)	21mo	$336,000	$164	33
315 Prospect Ave	0.69mi	3/3.0 (-1)	2,053 (+12%)	14mo	$925,000	$451	28

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: -8.1%
• Equity multiple: 0.68×
• Total profit: $-39,649
• Equity at exit: $66,947

10-year hold

• IRR: 7.4%
• Equity multiple: 1.69×
• Total profit: $86,957
• Equity at exit: $38,821

Cash invested: $125,720 (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 60035

• Rents YoY: 8.6%
• Active inventory: 122
• Price-to-rent: 8.3×

Monthly cashflow live

• Estimated rent: $4,528 high
• Mortgage (P&I): −$2,355
• Tax from tax record: −$895 /mo · $10,742/yr
• Insurance: −$187
• HOA: −$0
• Vacancy / Maint / Mgmt: −$951
• Net cashflow: $140

Break-even live

Break-even rent $4,350

Max offer price $449,000

Occupancy floor 92%

Sensitivity live

Price	-10% $394	-5% $267	+0% $140	+5% $13	+10% $-114
Rent	-10% $-218	-5% $-39	+0% $140	+5% $319	+10% $498
Rate	-1.0pp $366	-0.5pp $254	base $140	+0.5pp $24	+1.0pp $-95

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: $112,250
• Closing costs: $13,470
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1850 Green Bay Rd Highland Park, IL	3.0	1.0–2.5	1239	$5,695	$4.59	1d	15	0.30mi
434 Elm Pl Unit 1 Highland Park, IL	3.0	2.5	1600	$3,400	$2.12	26d	1	0.37mi
2078 Linden Ave Highland Park, IL	5.0	4.5	2489	$5,950	$2.39	26d	1	0.45mi
400 Park Ave Unit D Highland Park, IL	3.0	2.5	2000	$4,495	$2.25	5d	1	0.46mi
425 Bloom St Unit 3BR Highland Park, IL	3.0	2.5	2000	$1,500	$0.75	26d	1	0.71mi
1641 Ravine Ln Highland Park, IL	3.0	1.5	2574	$5,400	$2.10	1d	1	0.75mi
20 Webster Ave Unit C Highwood, IL	3.0	2.5	1791	$4,249	$2.37	17d	1	1.05mi

Listing history 32 events

1. 2026-06-21
   days on market $449,000 Active 93 DOM
2. 2026-06-18
   days on market $449,000 Active 90 DOM
3. 2026-06-17
   price $449,000 Active 89 DOM
4. 2026-06-17
   days on market $474,000 Active 89 DOM
5. 2026-06-16
   days on market $474,000 Active 88 DOM
6. 2026-06-15
   days on market $474,000 Active 87 DOM
7. 2026-06-13
   days on market $474,000 Active 85 DOM
8. 2026-06-13
   days on market $474,000 Active 84 DOM
9. 2026-06-09
   days on market $474,000 Active 81 DOM
10. 2026-06-08
    days on market $474,000 Active 80 DOM
11. 2026-06-07
    days on market $474,000 Active 79 DOM
12. 2026-06-04
    days on market $474,000 Active 76 DOM
13. 2026-06-03
    days on market $474,000 Active 75 DOM
14. 2026-06-02
    days on market $474,000 Active 74 DOM
15. 2026-06-01
    days on market $474,000 Active 73 DOM
16. 2026-05-31
    days on market $474,000 Active 72 DOM
17. 2026-04-26
    price $474,000
18. 2026-03-20
    listed $499,000 Active
19. 2015-04-28
    soldstatus $236,500
20. 2015-04-24
    soldstatus $236,500 Closed Sale 436-char remark

    Show marketing remark (436 chars)

    Walk to town, train & Sunset Park from this legal non-conforming 2 flat. Each apt has 2 bedrooms and one bath. Longtime tenants (24 years & 10 years) would love to stay. Rents could be higher. 1st floor unit could be duplexed into basement to create nice owners unit. Needs TLC but the price reflects. Large basement for storage. Large parking pad for 6+ cars. Newer windows, siding & roof. Sold "as is" condition.

21. 2015-03-16
    status Pending 436-char remark

    Show marketing remark (436 chars)

    Walk to town, train & Sunset Park from this legal non-conforming 2 flat. Each apt has 2 bedrooms and one bath. Longtime tenants (24 years & 10 years) would love to stay. Rents could be higher. 1st floor unit could be duplexed into basement to create nice owners unit. Needs TLC but the price reflects. Large basement for storage. Large parking pad for 6+ cars. Newer windows, siding & roof. Sold "as is" condition.

22. 2015-03-06
    historical Contingent 436-char remark

    Show marketing remark (436 chars)

    Walk to town, train & Sunset Park from this legal non-conforming 2 flat. Each apt has 2 bedrooms and one bath. Longtime tenants (24 years & 10 years) would love to stay. Rents could be higher. 1st floor unit could be duplexed into basement to create nice owners unit. Needs TLC but the price reflects. Large basement for storage. Large parking pad for 6+ cars. Newer windows, siding & roof. Sold "as is" condition.

23. 2015-01-09
    listed $250,000 New 436-char remark

    Show marketing remark (436 chars)

    Walk to town, train & Sunset Park from this legal non-conforming 2 flat. Each apt has 2 bedrooms and one bath. Longtime tenants (24 years & 10 years) would love to stay. Rents could be higher. 1st floor unit could be duplexed into basement to create nice owners unit. Needs TLC but the price reflects. Large basement for storage. Large parking pad for 6+ cars. Newer windows, siding & roof. Sold "as is" condition.

24. 2014-12-05
    historical
25. 2014-12-03
    status Reactivated
26. 2014-11-18
    historical Contingent
27. 2014-09-24
    price
28. 2014-07-26
    price Price Change
29. 2014-07-06
    listed New
30. 2014-07-01
    historical
31. 2014-05-27
    listed New
32. 1989-01-11
    soldstatus $119,000

ⓘ 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: $10,742 · $895/mo
• Projected year-2 tax: $10,742 · $895/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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥98°F today · 14 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 0% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $54,330
• − Mortgage interest: −$25,151
• − Property taxes: −$10,742
• − Insurance: −$2,245
• − Repairs & maintenance: −$4,346
• − Management: −$4,346
• − Depreciation: −$13,062
• Taxable loss: −$5,563
• Est. tax savings @ 24.0%: +$1,335
• After-tax cash flow: $3,013/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: Twp Hsd 113
• NCES district ID: 1719080
• Math proficiency: 60% ▼ -6.00%
• Reading proficiency: 63% ▼ -5.00%
• Median HH income: $122,404
• Composite: 59.23/100
• National rank: #937
• State rank: #19 of 620 in IL

Livability — Highland Park

• Score: 86/100
• State rank: #23
• US rank: #430

Category grades

Amenities A+ Commute A+ Cost of living F Crime A+ Employment A+ Housing A+ Health & safety B- User ratings A+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Highland Park, IL
• County: Lake County · 591,991 people
• City population: 30,398
• Metro: Chicago-Naperville-Elgin, IL-IN-WI
• Population (ZIP): 30,398
• Household income: $168,094
• Rent vs Own: 16.2% rent · 83.8% own
• Severe rent burden: 412.0

Population outlook (Lake County) Hauer SSP2

• Today (2025): 700,217 people
• By 2030: 693,290 · -1.0%
• By 2040: 673,588 · -3.8%
• By 2050: 643,556 · -8.1%
• By 2075: 562,792 · -19.6%
• By 2100: 457,715 · -34.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (80%)
• Race & ethnicity: White 80% Hispanic / Latino 12% Two or more races 8% Asian 3% Black 2%
• Hispanic origin (detail): Mexican 9% Puerto Rican 1%
• Common ancestry: Romanian 8% Scotch-Irish 8% Slovak 3%
• Foreign-born: 11% · Canada, China, South Korea
• Languages at home: 82% English-only · Spanish 9% Russian/Polish/Slavic 3% Other Indo-European 2%

Political lean MEDSL · Lake

• 2024 margin: Strong D (+20.8) · D 59.7% · R 38.9% · Other 1.4%
• 2008→2024 swing: +1.1pp toward D · 2008: 19.6pp · 2024: 20.8pp
• All cycles: 2024: D+20.8 2020: D+24.1 2016: D+20.3 2012: D+8.1 2008: D+19.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -250.71%
• Current HPI: 199.1977
• Rent YoY: ▲ 8.58%
• Metro: Chicago-Naperville-Elgin, IL-IN-WI
• 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

+298.3% since first listed

16 events — show timeline

• 2026-04-26 Price Changed $474,000 MRED as Distributed by MLS Grid
• 2026-03-20 Listed $499,000 MRED as Distributed by MLS Grid
• 2015-04-28 Sold (Public Records) $236,500 Public Records
• 2015-04-24 Sold (MLS) $236,500 MRED as Distributed by MLS Grid
• 2015-03-16 Pending — MRED as Distributed by MLS Grid
• 2015-03-06 Contingent — MRED as Distributed by MLS Grid
• 2015-01-09 Listed $250,000 MRED as Distributed by MLS Grid
• 2014-12-05 Listing Removed — MRED as Distributed by MLS Grid
• 2014-12-03 Relisted — MRED as Distributed by MLS Grid
• 2014-11-18 Contingent — MRED as Distributed by MLS Grid
• 2014-09-24 Price Changed — MRED as Distributed by MLS Grid
• 2014-07-26 Price Changed — MRED as Distributed by MLS Grid
• 2014-07-06 Listed — MRED as Distributed by MLS Grid
• 2014-07-01 Listing Removed — MRED as Distributed by MLS Grid
• 2014-05-27 Listed — MRED as Distributed by MLS Grid
• 1989-01-11 Sold (Public Records) $119,000 Public Records

Property tax history

+1.9%/yr

Latest (2024): $10,742 · +6.4% YoY. Source: county tax records.