1209 Fischer St · Wheaton, IL 60189

$274,900

3 bd · 1.0 ba · 1,133 sqft · SingleFamily public records · 29 Days on market

Built 1953 7,840 sqft lot Est $389k · 29% 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 +16.1/30.0
• ARV discount +15.0/15.0
• DSCR +5.0/10.0
• 1% rule +4.8/10.0
• Livability +4.3/5.0
• Schools +4.1/10.0
• Rent growth +3.3/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Fixer upper opportunity knocks in sought-after South Wheaton! This 3-bedroom, 1-bath ranch is full of potential! With some extra special work, this little gem will shine after some polishing! With good bones and a functional layout, this home offers the perfect chance to create something truly your own. Living spaces include a living room with a fireplace, an open-concept kitchen that flows into the family room featuring a volume ceiling, a convenient laundry room with utility sink, a full hall bath, and three modest-sized bedrooms. The fenced backyard offers possibilities to be transformed into your own outdoor space, while the 2-car detached garage provides added storage and convenience.

Key facts

• Open concept kitchen
• Fenced backyard
• Detached garage

Tags

• OPEN CONCEPT KITCHEN
• FENCED BACKYARD
• DETACHED GARAGE
• HIGHLY REGARDED SCHOOLS

Property features AI

Finance

• Other: Lot dimensions approximately 50 x 135 (less than 0.25 acre)
• HOA & community: No master association fee required; Community features include a park

Exterior

• Parking: Detached garage (owned) plus garage owned/owned parking; 2 garage spaces; Concrete driveway; Total parking for 8 vehicles
• Utilities: Lake Michigan water source; Public sewer; Electric with circuit breakers
• Home design: Detached single-family home; One-story; Fee simple ownership; Built approximately 71–80 years ago; Asphalt roof; Concrete perimeter foundation; Vinyl siding
• Construction: Vinyl siding construction; Asphalt roof; Concrete perimeter foundation; Built before 1978
• Exterior features: Deck; Fenced yard; Mature trees; Street is paved with sidewalks; School bus and commuter bus service available

Interior

• Kitchen: Eating area / table space; Range; Microwave; Dishwasher; Refrigerator
• Bedrooms: 3 bedrooms (all on the main level); Master bedroom on the main level
• Flooring: Hardwood in family room and kitchen; Carpet in living room and bedrooms; Ceramic tile in laundry
• Bathrooms: 1 full bathroom (main level)
• Heating & cooling: Natural gas forced-air heating; Window AC units
• Interior features: First-floor bedroom; First-floor full bath; Storm door(s); Screens and window treatments; 6 total rooms; Unfinished attic; Kitchen/dining combo; Ceiling fan(s); Gas water heater; Gas log fireplace in the living room
• Laundry & utility: Main-level laundry with sink; Washer and dryer included

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $275k.

Deal economics

• At list price, monthly cash flow is $143 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $269k (2.1% below list).
• Recommended offer: $269k (2.1% below list) — sets the bar for 1% rule.
• Cap rate 6.9% vs local median 3.7% in Wheaton — 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 (#17 in IL, #374 nationally) — a professional / high-income tenant draw. Strengths: crime A+, commute A+, employment A+; Watch: amenities D+, health & safety D+, cost of living F.
• CUSD 200 (suburban): math 43% / reading 44% proficiency, ranked #78 of 620 in IL (top 13%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Lincoln Elem School (math 62% / reading 52%, grade C+, #89 of 2,056 statewide, top 5%, 483 students, 0% FRL); Edison Middle School (math 33% / reading 42%, grade F, #165 of 665 statewide, top 25%, 674 students, 0% FRL); Wheaton Warrenville South H S (math 41% / reading 48%, grade F, #62 of 693 statewide, top 10%, 1,845 students, 0% FRL) — zoned schools average 0% FRL vs 23% district-wide (23 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: Rents rising (+3.4%/yr); 51 active listings in the ZIP; 17 comparable units currently listed for rent nearby; rentals leasing fast (median 3d on market — plan ~1-2 weeks tenant-placement turnaround); high-income renter base; 1,378 units permitted in DuPage County in 2024 (594 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 29 days — a 2% lower offer ($271k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $128k; list at $275k implies a 115% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1953 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $269,167 (2.1% below list)

Questions for the listing agent

1. Built in 1953 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 0.98% ✗
• Cap rate: 6.92%
• Cash-on-cash: 2.23%
• DSCR: 1.10
• GRM: 8.5

CMA / ARV

• ARV (on-the-fly): $388,619
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1209 Fischer St	0.00mi	3/1.0	1,133 (0%)	0mo	$311,000	$274	100
1020 Pershing Ave	0.29mi	3/2.0	1,194 (+5%)	1mo	$416,500	$349	73
1212 Underwood Ter	0.29mi	3/1.0	1,184 (+4%)	8mo	$353,500	$299	72
1406 E Elm St	0.42mi	3/1.5	1,199 (+6%)	1mo	$440,000	$367	68
1112 E Elm St	0.24mi	3/1.5	1,218 (+8%)	15mo	$418,000	$343	62
1010 E Elm St	0.18mi	3/1.5	988 (-13%)	13mo	$350,000	$354	57
1217 E Evergreen St	0.54mi	3/1.5	1,096 (-3%)	14mo	$385,000	$351	56
306 S Chase St	0.66mi	3/1.0	1,185 (+5%)	12mo	$345,000	$291	52
418 S Williston St	0.59mi	2/1.0 (-1)	1,231 (+9%)	9mo	$365,000	$297	46
604 Devonshire Ln	0.47mi	4/1.5 (+1)	1,264 (+12%)	12mo	$495,000	$392	41
1408 E Evergreen St	0.59mi	3/1.5	1,293 (+14%)	10mo	$390,000	$302	38
1221 E Illinois St	0.68mi	2/1.0 (-1)	1,265 (+12%)	15mo	$370,000	$292	32

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 · 3.35% rent growth · sell at horizon

5-year hold

• IRR: -12.3%
• Equity multiple: 0.55×
• Total profit: $-34,410
• Equity at exit: $40,988

10-year hold

• IRR: -2.6%
• Equity multiple: 0.82×
• Total profit: $-13,950
• Equity at exit: $23,768

Cash invested: $76,972 (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 60189

• Rents YoY: 3.4%
• Active inventory: 51
• Price-to-rent: 8.5×

Monthly cashflow live

• Estimated rent: $2,692 high
• Mortgage (P&I): −$1,442
• Tax from tax record: −$428 /mo · $5,130/yr
• Insurance: −$115
• HOA: −$0
• Vacancy / Maint / Mgmt: −$565
• Net cashflow: $143

Break-even live

Break-even rent $2,511

Max offer price $274,900

Occupancy floor 90%

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: $68,725
• Closing costs: $8,247
• Reserves months: —
• Total cash needed: —

Rent comps 17 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
250 S Naperville Rd Wheaton, IL	3.0	1.0–2.0	1061	$5,058	$4.77	24d	16	0.82mi
250 S Naperville Rd Wheaton, IL	3.0	1.0–2.0	1061	$5,058	$4.77	1d	12	0.82mi
1706 E Liberty Dr Wheaton, IL	3.0	3.0	1320	$3,200	$2.42	22d	1	0.90mi
1750 22nd St Wheaton, IL	1.0–3.0	1.0–2.0	873	$1,802	$2.06	1d	6	0.93mi
121 N Cross St Wheaton, IL	2.0	1.0–2.0	831	$2,887	$3.47	2d	18	0.96mi
1607 Thames Ct Unit D Wheaton, IL	2.0	1.0	1056	$2,150	$2.04	17d	1	1.06mi
1756 Plymouth Ct Unit B Wheaton, IL	3.0	2.0	1311	$2,600	$1.98	2d	1	1.07mi
302 W Liberty Dr Wheaton, IL	2.0	2.0	1194	$2,885	$2.42	2d	3	1.07mi
357 Bloomfield Ln Glen Ellyn, IL	2.0	2.0	1213	$2,100	$1.73	24d	1	1.08mi
357 Bloomfield Ln Glen Ellyn, IL	2.0	2.0	1213	$2,100	$1.73	6d	1	1.08mi
363 Pembroke Ln #3 Glen Ellyn, IL	2.0	2.0	1213	$1,875	$1.55	24d	1	1.18mi
385 Sandhurst Cir #4 Glen Ellyn, IL	2.0	1.0	1213	$2,200	$1.81	1d	1	1.20mi
50 Sterling Cir #201 Wheaton, IL	3.0	2.0	1206	$2,799	$2.32	2d	1	1.29mi
285 Hill Ave Unit 2 Glen Ellyn, IL	3.0	1.0	1200	$3,250	$2.71	7d	1	1.33mi
2 Sterling Cir Wheaton, IL	1.0–3.0	1.0–2.0	924	$3,078	$3.33	1d	86	1.39mi
470 Fawell Blvd #218 Glen Ellyn, IL	2.0	2.0	993	$2,150	$2.17	24d	1	1.43mi
21 N Main St Glen Ellyn, IL	1.0–2.0	1.0	850	$1,595	$1.88	1d	17	1.46mi

Listing history 11 events

1. 2026-06-07
   statusdays on market $274,900 Pending 29 DOM
2. 2026-06-04
   days on market $274,900 Contingent - Continue to Show 28 DOM
3. 2026-06-03
   days on market $274,900 Contingent - Continue to Show 27 DOM
4. 2026-06-02
   days on market $274,900 Contingent - Continue to Show 26 DOM
5. 2026-06-01
   days on market $274,900 Contingent - Continue to Show 25 DOM
6. 2026-05-31
   days on market $274,900 Contingent - Continue to Show 24 DOM
7. 2026-05-12
   historical Contingent - Continue to Show
8. 2026-05-07
   listed $274,900 Active
9. 1997-12-17
   soldstatus $128,000
10. 1997-09-26
    soldstatus $128,000
11. 1987-08-01
    soldstatus $79,000

ⓘ 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: $5,130 · $428/mo
• Projected year-2 tax: $5,685 · $474/mo
• Expected delta: +$555/yr (+$46/mo · 10.8%)

ⓘ 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 3/10 Moderate 7 d/yr ≥105°F today · 14 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 0% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 4 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $32,300
• − Mortgage interest: −$15,399
• − Property taxes: −$5,130
• − Insurance: −$1,374
• − Repairs & maintenance: −$2,584
• − Management: −$2,584
• − Depreciation: −$7,997
• Taxable loss: −$2,768
• Est. tax savings @ 24.0%: +$664
• After-tax cash flow: $2,378/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: CUSD 200
• NCES district ID: 1742180
• Math proficiency: 43% ▼ -6.00%
• Reading proficiency: 44% ▼ -8.00%
• Median HH income: $85,077
• Composite: 40.75/100
• National rank: #3653
• State rank: #78 of 620 in IL

Livability — Wheaton

• Score: 86/100
• State rank: #17
• US rank: #374

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Wheaton, IL
• County: DuPage County · 904,569 people
• City population: 59,857
• Metro: Chicago-Naperville-Elgin, IL-IN-WI
• Population (ZIP): 31,042
• Household income: $128,878
• Rent vs Own: 22.2% rent · 77.8% own
• Severe rent burden: 484.0

Population outlook (DuPage County) Hauer SSP2

• Today (2025): 960,187 people
• By 2030: 965,850 · +0.6%
• By 2040: 965,812 · +0.6%
• By 2050: 954,890 · -0.6%
• By 2075: 910,185 · -5.2%
• By 2100: 816,255 · -15.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (80%)
• Race & ethnicity: White 80% Two or more races 8% Hispanic / Latino 7% Asian 5% Black 3%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Romanian 10% Italian 3% Slovak 2%
• Foreign-born: 11% · Canada, Philippines, China
• Languages at home: 86% English-only · Spanish 4% Other Indo-European 3% Russian/Polish/Slavic 2%

Political lean MEDSL · DuPage

• 2024 margin: D (+13.3) · D 55.9% · R 42.5% · Other 1.6%
• 2008→2024 swing: +2.5pp toward D · 2008: 10.8pp · 2024: 13.3pp
• All cycles: 2024: D+13.3 2020: D+18.1 2016: D+14.1 2012: D+1.0 2008: D+10.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -254.37%
• Current HPI: 212.2464
• Rent YoY: ▲ 3.35%
• 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

+248.0% since first listed

5 events — show timeline

• 2026-05-12 Contingent — MRED as Distributed by MLS Grid
• 2026-05-07 Listed $274,900 MRED as Distributed by MLS Grid
• 1997-12-17 Sold (Public Records) $128,000 Public Records
• 1997-09-26 Sold (Public Records) $128,000 Public Records
• 1987-08-01 Sold (Public Records) $79,000 Public Records

Property tax history

+1.5%/yr

Latest (2024): $5,130 · +4.5% YoY. Source: county tax records.