Potential Profit$86,557
This property is available as a short sale at Cherrywood Ln. This property features bedrooms and 2.5 bathrooms, perfect for investment and/or your personal residence. With 1,898 square feet of living space, you can enjoy sizable rooms for comfortable living and flexibility in the common areas for family gatherings. Our team of real estate experts has conducted a thorough analysis of the current market conditions in Homewood, specifically for Cherrywood Ln and comparable listings. Based on this expert analysis, the estimated market value is $249,064. This has potential equity of $86,557. If purchased for rental purposes, the monthly rental rate could range between $1,530 and $2,070, providing a solid return on investment. For those interested in resale, the estimated profit from selling is $86,557. Factors considered in this calculation include the property location, condition, status, and convenience, all assessed by our experienced professionals. Properties like this one on Cherrywood Ln are updated daily along with others in Homewood, Illinois, ensuring you have the most current and accurate information.
There are 4 schools in the area. Nearby schools include Homewood-Flossmoor High School and Willow School.
There are plenty of activities near this property like Homewood Public Library, Village Hall, and more.
Public transportation options include: Metra Electric Line - provides commuter train services directly to downtown Chicago., Pace Bus Transit – local bus services connecting Homewood with other suburbs and the Metra stations.. Other services include ride-sharing services like Uber and Lyft.
Parks nearby include Irons Oaks Environmental Learning Center, Homewood Memorial Park and more.
Services available in the area include cellular and internet options.
This property in Homewood, IL is located in the Pacesetter Hollydale Subdivision.
The property located at Cherrywood Ln in Homewood, IL is listed as a Short Sale
Short sale properties like Cherrywood Ln in Homewood, Illinois represent tremendous opportunity to you as a buyer because they are aggressively priced to sell well below or just at fair market value. Existing homeowners are typically distressed and eager to sell for less than what is owed on their mortgages. They are "underwater" and either can no longer afford their mortgage payments or are simply unwilling to continue to make them for various reasons.Short sales often present opportunities for real estate investors to purchase property at below market prices. A short sale occurs when the mortgage lender on a property agrees to give a release for less than the amount owed on the loan. This usually occurs when the loan on the property becomes delinquent and is headed toward foreclosure. An alert property owner who knows he is facing foreclosure is well advised to keep an open line of communication with his lender. And the lender is well advised to keep an open mind to the consequences of a loan default and the benefits of agreeing to a short sale. When the lender and property owner can agree on a short sale price, the owner can advertise that the property is a short sale and can list it accordingly. Such listings attract a lot of attention and can expedite the sale of the property.
Here is how to proceed:
Short sales can create opportunities to save big on the purchase of a property. Such agreements are entered into between a purchaser, a property owner, and the lender. Even though by definition a short sale means the lender is accepting less than the amount owed on the mortgage loan, it is not a certainty that the property is being purchased at a below market price. For that reason, you must still perform the same due diligence as you would on any other real estate transaction. The professional services of an appraiser, property inspector, and title agent are advised when structuring a short sale.
The estimated rental value for Cherrywood Ln located in Homewood, IL is $1,800/month. Comparable homes around Cherrywood Ln that are rentals have monthly ranges starting as low as $1,530 per month and as high as $2,070 per month. An owner looking to use this property as an investment could bring a return in the area of $1,530 - $2,070 a month based on the many factors which include the properties condition, type, amenities, etc. Sign in to view a full two years of rental information as well as the Average Market Value (AVM) of this property.
| Start Date | End Date | Listing Type | Bank Name |
|---|---|---|---|
| 04/18/25 | Short Sale |
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