280 N Westgate Rd · Mount Prospect, IL 60056

$199,999

1 bd · 1.0 ba · — sqft · Condo · 18 Days on market

Built 1971 Good condition

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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 +18.5/30.0
• ARV discount +7.5/15.0
• DSCR +5.8/10.0
• 1% rule +5.0/10.0
• Livability +4.2/5.0
• Condition / age +4.0/5.0
• Schools +3.9/10.0
• Rent growth +2.8/5.0
• Appreciation +0.0/10.0

Listing remarks

Stunning 1-Bedroom Condo for Sale Overview: Discover your dream home in this beautiful 1-bedroom, 1-bath condo, perfectly situated in a tranquil residential area. This updated unit offers modern living with the added benefits of community amenities and convenient access to local attractions. Key Features:

Key facts

• Built 1971
• Listed 17 days

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $200k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $191 ($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 $199k (0.4% below list).
• Recommended offer: $197k (1.5% below list) — sets the bar for market timing.
• Cap rate 7.4% vs local median 3.2% in Mount Prospect — 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 84/100 on livability (#32 in IL, #638 nationally) — a professional / high-income tenant draw. Strengths: crime A+, commute A+, employment A+; Watch: cost of living D+, health & safety D+.
• Township Hsd 214 (suburban): math 42% / reading 45% proficiency, ranked #103 of 620 in IL (top 17%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising (+1.3%/yr); 92 active listings in the ZIP; 16 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 6,272 units permitted in Cook County in 2024 (4,658 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 18 days — a 2% lower offer ($197k) is reasonable based on typical stale-listing flexibility.

Recommended offer $196,999 (1.5% below list)

Questions for the listing agent

1. Built in 1971 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.00% ✗
• Cap rate: 7.44%
• Cash-on-cash: 4.10%
• DSCR: 1.18
• GRM: 8.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 1.28% rent growth · sell at horizon

5-year hold

• IRR: -11.8%
• Equity multiple: 0.58×
• Total profit: $-23,576
• Equity at exit: $29,821

10-year hold

• IRR: -5.4%
• Equity multiple: 0.68×
• Total profit: $-18,143
• Equity at exit: $17,292

Cash invested: $56,000 (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 60056

• Rents YoY: 1.3%
• Active inventory: 92
• Price-to-rent: 8.4×

Monthly cashflow live

• Estimated rent: $1,992 high
• Mortgage (P&I): −$1,049
• Tax est. 1.5%: −$250 /mo · $3,000/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$418
• Net cashflow: $191

Break-even live

Break-even rent $1,750

Max offer price $199,999

Occupancy floor 85%

Sensitivity live

Price	-10% $330	-5% $261	+0% $191	+5% $122	+10% $53
Rent	-10% $34	-5% $113	+0% $191	+5% $270	+10% $349
Rate	-1.0pp $292	-0.5pp $242	base $191	+0.5pp $140	+1.0pp $87

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: $50,000
• Closing costs: $6,000
• Reserves months: —
• Total cash needed: —

Rent comps 16 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
501 E Prospect Ave Unit 1B Mount Prospect, IL	1.0	1.0	740	$1,600	$2.16	25d	1	1.00mi
122 E Northwest Hwy Unit 1 Mt Prospect, IL	—	1.0	615	$2,045	$3.33	25d	1	1.01mi
122 E Northwest Hwy Unit 2 Mt Prospect, IL	1.0	1.0	715	$2,395	$3.35	25d	1	1.01mi
122 E Northwest Hwy Unit 3 Mt Prospect, IL	2.0	2.0	—	$3,295	—	25d	1	1.01mi
1075 N Wheeling Rd Unit B4 Mt Prospect, IL	1.0	1.0	—	$1,595	—	25d	1	1.01mi
122 E Northwest Hwy Mt Prospect, IL	1.0	1.0	671	$2,402	$3.58	0d	6	1.02mi
235 E Prospect Ave Mount Prospect, IL	2.0	1.0–2.0	942	$2,983	$3.16	0d	5	1.03mi
10 N Main St Mt Prospect, IL	3.0	1.0–2.0	975	$2,485	$2.55	0d	4	1.03mi
1078 N Wheeling Rd Unit BA10 Mt Prospect, IL	1.0	1.0	700	$1,595	$2.28	0d	1	1.04mi
1078 N Wheeling Rd Mt Prospect, IL	1.0	1.0	700	$1,595	$2.28	25d	1	1.05mi
1080 N Wheeling Rd Mount Prospect, IL	1.0	1.0	750	$1,595	$2.13	25d	1	1.05mi
398 N 3rd Ave Unit 4 Des Plaines, IL	2.0	1.0	—	$1,700	—	25d	1	1.06mi
207 S Maple St Mount Prospect, IL	1.0	1.0	747	$2,534	$3.39	0d	1	1.06mi
170 E Northwest Hwy Unit I Des Plaines, IL	2.0	1.5	1300	$2,100	$1.62	25d	1	1.07mi
1110 N Wheeling Rd Unit 10803-B Mt Prospect, IL	1.0	1.0	—	$1,595	—	25d	1	1.08mi
11 W Prospect Ave Mt Prospect, IL	1.0	1.0	682	$2,662	$3.90	23d	2	1.14mi

HOA detail condo

• Monthly dues: $0 · $0/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 11 events

1. 2026-06-16
   days on market $199,999 Active 18 DOM
2. 2026-06-15
   days on market $199,999 Active 17 DOM
3. 2026-06-13
   days on market $199,999 Active 15 DOM
4. 2026-06-09
   days on market $199,999 Active 11 DOM
5. 2026-06-08
   days on market $199,999 Active 10 DOM
6. 2026-06-07
   days on market $199,999 Active 9 DOM
7. 2026-06-04
   days on market $199,999 Active 6 DOM
8. 2026-06-03
   days on market $199,999 Active 5 DOM
9. 2026-06-02
   days on market $199,999 Active 4 DOM
10. 2026-06-01
    days on market $199,999 Active 3 DOM
11. 2026-05-31
    days on market $199,999 Active 2 DOM

ⓘ 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 2/10 Low 7 d/yr ≥100°F today · 14 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 0% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,902
• − Mortgage interest: −$11,203
• − Property taxes: −$3,000
• − Insurance: −$1,000
• − Repairs & maintenance: −$1,912
• − Management: −$1,912
• − Depreciation: −$5,818
• Taxable loss: −$943
• Est. tax savings @ 24.0%: +$226
• After-tax cash flow: $2,523/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.

Condition & rehab AI · 1 photo

Good 80/100 Cosmetic rehab

This 1-bedroom condo is in good condition with a modern kitchen and clean interior. A fresh exterior paint job and window cleaning would significantly enhance its curb appeal and value.

Value-add opportunities

• Both Paint the exterior — Enhances curb appeal and can increase both resale and rental value.
• Both Clean and maintain the windows — Improves natural light and overall appearance, boosting both resale and rental appeal.

Renovation cost estimate screening

Value-add ROI direction

• Both Paint the exterior — Enhances curb appeal and can increase both resale and rental value. ↑
• Both Clean and maintain the windows — Improves natural light and overall appearance, boosting both resale and rental appeal. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Township Hsd 214
• NCES district ID: 1704170
• Math proficiency: 42% ▼ -10.00%
• Reading proficiency: 45% ▼ -4.00%
• Median HH income: $68,267
• Composite: 39.13/100
• National rank: #4035
• State rank: #103 of 620 in IL

Livability — Mount Prospect

• Score: 84/100
• State rank: #32
• US rank: #638

Category grades

Amenities C Commute A+ Cost of living D+ 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: Mount Prospect, IL
• County: Cook County · 4,486,803 people
• City population: 55,818
• Metro: Chicago-Naperville-Elgin, IL-IN-WI
• Population (ZIP): 55,818
• Household income: $101,922
• Rent vs Own: 31.3% rent · 68.7% own
• Severe rent burden: 1485.0

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: Diverse neighborhood (Simpson 0.55)
• Race & ethnicity: White 63% Hispanic / Latino 16% Asian 15% Two or more races 9% Black 3%
• Hispanic origin (detail): Mexican 13% Puerto Rican 1%
• Common ancestry: Romanian 14% French 2% Italian 1%
• Foreign-born: 30% · Canada, South Korea, China
• Languages at home: 57% English-only · Spanish 12% Russian/Polish/Slavic 12% Other Indo-European 7%

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: ▼ -325.14%
• Current HPI: 202.4367
• Rent YoY: ▲ 1.28%
• 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

1 event — show timeline

• 2026-05-30 Listed $199,999 FSBO.com