Motivated by recent works in Levi degenerate CR geometry, this article endeavors to study the wider and more flexible para-CR structures for which the constraint of invariancy under complex conjugation is relaxed. We consider 5-dimensional para-CR structures whose Levi forms are of constant rank 1 and that are 2-nondegenerate both with respect to parameters and to variables. Eliminating parameters, such structures may be represented modulo point transformations by pairs of PDEs zy = F(x,y,z,zx) & zxxx = H(x,y,z,zx,zxx), with F independent of zxx and $F_{z_{x}z_{x}} \neq 0$ , that are completely integrable ${D_{x}^{3}} F = {\Delta }_{y} H$ , Performing at an advanced level Cartan’s method of equivalence, we determine all concerned homogeneous models, together with their symmetries: