Real Estate Investing in Shorewood, Illinois (60404)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 60404 (Shorewood, IL)? Our answer, based on the numbers below.
Solid choice — values are growing steadily and the market is stable enough to buy with confidence.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
No major risk flags on the data we track.
• Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in Shorewood, IL (60404)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 60404 Shorewood
The 60404 ZIP in Shorewood, IL is a local-operator market. Outside capital chasing a $418K entry has to pair deep knowledge with the discount.
For an experienced owner, 60404 can be a worth a close look for hunting ground — but the discount at $418K reflects genuine risk that outside investors often underestimate.
Nearby ZIPs in Shorewood have seen price recovery that 60404 has not matched. Will County data supports the view that the spread is structural rather than temporary.
Who lives in 60404 is part of why the ZIP is priced as it is. The demographic profile requires hands-on management, tight screening, and local knowledge.
The 60404 ZIP fits a narrow investor profile — hands-on, patient, and willing to accept that the cap rate on paper is not the cap rate in reality.
Here's what matters if you're considering buying a home in Shorewood:
Property Strategy for 60404
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $298,774 | $2,390 | 5.8% | +7.6% | $149,387 |
| 3BR | $373,000 | $3,080 | 5.9% | +7.7% | $124,333 |
| 4BR | $467,401 | $3,560 | 5.5% | +7.7% | $116,850 |
| 5BR | $507,433 | — | — | +6.9% | $101,487 |
Market Trends
Home Value History (with trend line)
📊 How Does 60404 Compare?
| Metric | 60404 | Shorewood | Illinois |
|---|---|---|---|
| Home Value | $418,039 | $418,039 | $279,761 |
| 5-Year CAGR | 5.1% | 5.1% | 6.6% |
| Avg Rent | $2,151 | $2,151 | - |
| Cap Rate | 4.0% | 4.0% | - |
Similar ZIPs Within 25 Miles
Compare other nearby markets to see if a neighbor offers a better fit.
Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 60404 (Shorewood, IL). Anonymous, moderated, never written by AI.
Do you own or manage rentals in ZIP 60404 (Shorewood, IL)?
~25 seconds · no account needed · your report is anonymous
Property managers serving Will County
Manage rentals here? List your business →HSR Property Services, LLC is a full-service property management firm in Tinley Park, IL, specializing in Condominium, Townhome & Single Family Homeowner Associations, Apartment Rentals, Affordable & summary from their website
Listings are shown for convenience — Repit doesn’t endorse or vet these companies. Ratings shown come only from email-verified visitors.
📊 Market Snapshot
| Home Value | $418,039 |
| Monthly Rent | $2,151 |
| Price-to-Rent | 16.2:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 6.2% |
| Cap Rate | 4.0% |
| 5-Year IRR | 9.1% |
📈 Home Appreciation
| 1-Year | +4.3% ▲ |
| 3-Year CAGR | +4.0% ▲ |
| 5-Year CAGR | +5.1% ▲ |
| 10-Year CAGR | +5.1% ▲ |
🏠 Rent Trends
| 1-Year | N/A |
| 3-Year CAGR | N/A |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (4.0%). Financing reduces your cash-on-cash return below the cap rate. Markets like this may still make sense as IRR plays — factoring in appreciation, depreciation, and a future refinance when rates drop.
Run an IRR Analysis →⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 60404
Population: 20,052
Crime & Safety
Crime & Safety Data Coming Soon
We're integrating comprehensive crime statistics including violent crime rates, property crime, and safety scores to help you make informed investment decisions.
Expected: Q1 2025
🎓 Schools in 60404
Schools in This ZIP Code
Nearby Schools (5 more)
Schools in adjacent ZIP codes that may serve this area
Troy Craughwell School
Troy Heritage Trail School
Grand Prairie Elem School
Thomas Jefferson Elem Sch
Jones Elementary School
About Repit School Scores
Traditional school ratings rely heavily on standardized test scores, which often reflect family income more than school quality. Repit takes a different approach.
We evaluate schools based on factors that research shows actually impact educational outcomes:
- Class Size — Smaller classes mean more individual attention
- School Funding — Resources available for programs, staff, and facilities
- Community Factors — Neighborhood characteristics that influence student success
- School Environment — Size, type, and structure
Scores are updated annually using federal education data.
🎓 Nearby Colleges & Universities
Investor Insight: With 1,390 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
Which real estate strategy fits Shorewood, IL?
Investors who focus on careful cash-flow rentals with hands-on management typically do well in Shorewood, IL. The numbers - $418K homes against $2,151/mo rents - support that play.
Is Shorewood, IL a friendly market for rental owners?
For rental operators, Shorewood, IL rates as landlord-friendly. The regulatory environment standard buy-and-hold operations.
Are there empty rentals in Shorewood, IL?
Shorewood, IL sees elevated vacancy, which is reasonable relative to the broader IL rental market.
How qualified is the tenant pool in Shorewood, IL?
The tenant pool in Shorewood, IL is solid, supported by local employment and population fundamentals. Rents of $2,151/mo are well-absorbed by the market.
What kind of market is Shorewood, IL for investors?
Investors tracking Shorewood, IL will find a 3.0/5 rating supported by $418K median home values and $2,151/mo rents. That profile suits long-term holders targeting measured returns.
You know 60404 now. You don’t know where it ranks.
This page stays free — all of it. What one page can’t tell you is how 60404 compares to every other market. Investor ($19/mo) screens every U.S. ZIP by cap rate, the 1% rule, vacancy and landlord climate, and exports your shortlist.
How 60404 ranks in Chicago-Naperville-Elgin, IL-IN-WI
Every ZIP in this metro, ranked. Free.
AI Market Advisor
Ask questions about investing in 60404 (Shorewood)
Community Ratings
What people who’ve spent time here actually say. Not paid reviews.
Be the first to rate 60404 (Shorewood, IL).
It takes 30 seconds. No signup. Your rating helps everyone who comes here after you.