16604 Finch Ave · Harvey, IL 60426

$105,300

3 bd · 1.5 ba · 2,006 sqft · SingleFamily public records · 177 Days on market

Built 1998 ↓ 19% since listing

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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

Excellent Opportunity to own a large home in Harvey! Updates and repairs are needed and the property is sold in its as is condition. A real diamond in the rough which features a large kitchen, family room, and paved patio area overlooking a large backyard.

Key facts

• Paved patio area
• Large backyard
• Large kitchen

Tags

• LARGE KITCHEN
• FAMILY ROOM
• PAVED PATIO AREA
• LARGE BACKYARD

Property features AI

Finance

• Other: Property not currently leased; Possession at closing
• HOA & community: No master association fee required

Exterior

• Parking: Attached garage (owned), 2 garage spaces, 2 total parking spaces
• Utilities: Public water; Public sewer
• Home design: Detached single-family home; One-story listed (property data indicates 1 story); Fee simple ownership
• Construction: Brick and frame construction; Built approximately 26-30 years ago; Not rebuilt; not a 1978-era lead-based paint property
• Exterior features: Lot between 0.50 and 0.99 acre; Lot dimensions listed

Interior

• Kitchen: Kitchen on main level, about 12 x 14
• Bedrooms: Master bedroom (second level) with full bath; Bedroom 2 (second level), carpeted, about 13 x 14; Bedroom 3 (second level), carpeted, about 10 x 12; Additional bedroom listed
• Flooring: Hardwood flooring in dining room and living room; Carpet in bedrooms
• Bathrooms: One full bathroom; One half bathroom
• Heating & cooling: Natural gas heating; Central air conditioning
• Interior features: Seven total rooms; Unfinished full basement; One fireplace in the living room
• Laundry & utility: Main-level laundry room, about 6 x 10

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $105k.

Deal economics

• At list price, monthly cash flow is $612 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $105k).
• Recommended offer: $93k (12.0% below list) — sets the bar for market timing.
• Cap rate 13.3% 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+, crime F, amenities 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.
• Zoned schools: Thornwood High School (math 8% / reading 9%, grade F, #584 of 693 statewide, top 85%, 1,996 students, 0% FRL).
• Market conditions: 134 active listings in the ZIP; 6,272 units permitted in Cook County in 2024 (4,658 in 5+ unit buildings).

Forward outlook

• In year one you build about $11k of equity ($728 loan paydown + $11k appreciation (10.0% local appreciation)).
• At projected returns (10.0% appreciation + 3.0% rent growth), your $29k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$40k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 177 days — a 12% lower offer ($93k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 3y ago; this cycle's ask has dropped $30k (22%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $92,664 (12.0% below list)

Questions for the listing agent

1. It's been on market 177 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
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: 1.61% ✓
• Cap rate: 13.27%
• Cash-on-cash: 24.93%
• DSCR: 2.11
• GRM: 5.2

CMA / ARV

• ARV (on-the-fly): $274,822
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
16604 Finch Ave	0.00mi	3/1.5	2,006 (0%)	0mo	$96,000	$48	100
1001 172nd St	0.73mi	3/2.0	1,800 (-10%)	6mo	$247,000	$137	42

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: 43.1%
• Equity multiple: 4.27×
• Total profit: $96,384
• Equity at exit: $94,863

10-year hold

• IRR: 37.2%
• Equity multiple: 9.59×
• Total profit: $253,208
• Equity at exit: $204,575

Cash invested: $29,484 (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: $1,696 medium
• Mortgage (P&I): −$552
• Tax est. 1.5%: −$132 /mo · $1,580/yr
• Insurance: −$44
• HOA: −$0
• Vacancy / Maint / Mgmt: −$356
• Net cashflow: $612

Break-even live

Break-even rent $921

Max offer price $105,300

Occupancy floor 59%

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: $26,325
• Closing costs: $3,159
• Reserves months: —
• Total cash needed: —

Listing history 22 events

1. 2026-05-12
   status Pending
2. 2026-04-01
   status Active
3. 2026-03-31
   historical
4. 2026-02-26
   price $114,433
5. 2026-02-12
   status Active
6. 2026-02-10
   historical
7. 2025-11-24
   price $101,000
8. 2025-11-12
   listed $135,200 Active
9. 2023-12-28
   historical
10. 2023-11-28
    status Active
11. 2023-11-15
    status Pending
12. 2023-11-08
    price
13. 2023-11-04
    price
14. 2023-11-03
    price
15. 2023-11-03
    status Active
16. 2023-11-03
    price
17. 2023-10-11
    historical Contingent - Continue to Show
18. 2023-10-11
    status Active
19. 2023-10-03
    historical
20. 2023-08-17
    listed Active
21. 2006-06-27
    soldstatus $196,500
22. 1997-12-11
    soldstatus $141,000

ⓘ 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 ≥102°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,357
• − Mortgage interest: −$5,898
• − Property taxes: −$1,580
• − Insurance: −$526
• − Repairs & maintenance: −$1,629
• − Management: −$1,629
• − Depreciation: −$3,063
• Taxable income: $6,032
• Est. tax owed @ 24.0%: −$1,448
• After-tax cash flow: $5,902/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

-18.8% since first listed

22 events — show timeline

• 2026-05-12 Pending — MRED as Distributed by MLS Grid
• 2026-04-01 Relisted — MRED as Distributed by MLS Grid
• 2026-03-31 Listing Removed — MRED as Distributed by MLS Grid
• 2026-02-26 Price Changed $114,433 MRED as Distributed by MLS Grid
• 2026-02-12 Relisted — MRED as Distributed by MLS Grid
• 2026-02-10 Listing Removed — MRED as Distributed by MLS Grid
• 2025-11-24 Price Changed $101,000 MRED as Distributed by MLS Grid
• 2025-11-12 Listed $135,200 MRED as Distributed by MLS Grid
• 2023-12-28 Listing Removed — MRED as Distributed by MLS Grid
• 2023-11-28 Relisted — MRED as Distributed by MLS Grid
• 2023-11-15 Pending — MRED as Distributed by MLS Grid
• 2023-11-08 Price Changed — MRED as Distributed by MLS Grid
• 2023-11-04 Price Changed — MRED as Distributed by MLS Grid
• 2023-11-03 Price Changed — MRED as Distributed by MLS Grid
• 2023-11-03 Relisted — MRED as Distributed by MLS Grid
• 2023-11-03 Price Changed — MRED as Distributed by MLS Grid
• 2023-10-11 Contingent — MRED as Distributed by MLS Grid
• 2023-10-11 Relisted — MRED as Distributed by MLS Grid
• 2023-10-03 Listing Removed — MRED as Distributed by MLS Grid
• 2023-08-17 Listed — MRED as Distributed by MLS Grid
• 2006-06-27 Sold (Public Records) $196,500 Public Records
• 1997-12-11 Sold (Public Records) $141,000 Public Records

Property tax history

+4.2%/yr

Latest (2023): $11,633 · +44.1% YoY. Source: county tax records.