2247 N 73rd Ave · Elmwood Park, IL 60707

$469,000

5 bd · 2.5 ba · 2,464 sqft · SingleFamily public records · 71 Days on market

Built 1922 3,750 sqft lot $190/sqft · at area comps Est $482k · at est.

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Why this score? — see what drove the D 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 +12.7/30.0
• ARV discount +8.8/15.0
• 1% rule +4.5/10.0
• Rent growth +4.3/5.0
• Livability +4.2/5.0
• DSCR +3.8/10.0
• Condition / age +2.5/5.0
• Schools +1.9/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Bring the whole family. This home is HUGE! Situated on a corner lot, this spacious and unique home in Elmwood Park features 5+ bedrooms, 3 full baths, a finished basement, and one of the largest solid brick garages in Elmwood Park, complete with a full basement! There is rough in plumbing which appears to have been a bathroom in the past. Owners have never explored or tested for a bath. There also used to be a working furnace down there too. A mechanics dream come true! The main level is warm and inviting, featuring an open concept floor plan, two bedrooms (one currently being used as a theater room that can easily be converted back into a bedroom), a kitchen with a walk-in pantry, and a full bath. A wide staircase leads to the upper level, which includes a loft, walk-in closet, laundry room, full bath, and three bedrooms with brand-new carpet and padding. The primary bedroom features a skylight and dual walk-in closets. The upper level also has a furnace and A/C unit that are less than five years old. The finished basement offers an additional laundry room, kitchen, bathroom, utility room, and bedroom. The back yard has a 6 foot privacy fence . The back deck was previously modified for easy access to an above ground pool. A gas line is already installed if you want to add a heater to your own pool. This must-see home is conveniently located near schools, parks, shopping, restaurants, and much more! The current owners have enjoyed living here for the past 20 years! Agent is related to seller.

Key facts

• Dual walk in closets
• Finished basement
• Walk in pantry

Tags

• CORNER LOT
• FINISHED BASEMENT
• WALK IN PANTRY
• DUAL WALK IN CLOSETS

What this means for you Summary

Snapshot

• This is a 5-bed/2.5-bath single-family listed at $469k.

Deal economics

• At list price, monthly cash flow is $-49 ($-587/yr) — negative.
• To cash-flow at today's rent, offer at most $460k (1.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $444k (5.4% below list).
• Recommended offer: $441k (6.0% below list) — sets the bar for market timing.
• Cap rate 6.2% vs local median 4.4% in Elmwood Park — 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 83/100 on livability (#41 in IL, #865 nationally) — a professional / high-income tenant draw. Strengths: commute A+, housing A+, crime A-; Watch: schools D+.
• Elmwood Park CUSD 401 (suburban): math 15% / reading 26% proficiency, ranked #403 of 620 in IL (top 65%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: Rents rising fast (+7.2%/yr); 58 active listings in the ZIP; 18 comparable units currently listed for rent nearby; rentals leasing fast (median 13d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 6,272 units permitted in Cook County in 2024 (4,658 in 5+ unit buildings).
• At $4,438/mo this rent would consume 63% of the median local household income ($85k/yr) (locally 1195% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $14k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 71 days — a 6% lower offer ($441k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $148k; list at $469k implies a 217% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1922 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $440,860 (6.0% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 71 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
3. Built in 1922 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
7. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
8. 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.
9. 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.
10. 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: 0.95% ✗
• Cap rate: 6.17%
• Cash-on-cash: -0.45%
• DSCR: 0.98
• GRM: 8.8

CMA / ARV

• ARV (median comp): $482,473
• List price: $469,000
• Delta: -2.79%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2304 N 76th Ct	0.46mi	5/3.0	2,543 (+3%)	2mo	$630,000	$248	69
2142 N 73rd Ct	0.17mi	4/3.0 (-1)	2,300 (-7%)	8mo	$525,000	$228	68
2120 N 75th Ct	0.39mi	4/3.0 (-1)	2,600 (+6%)	0mo	$489,000	$188	66
2158 N 74th Ave	0.20mi	4/3.0 (-1)	2,740 (+11%)	1mo	$526,000	$192	64
2345 N Nordica Ave	0.33mi	4/2.5 (-1)	2,236 (-9%)	2mo	$410,000	$183	63
2734 N 72nd Ct	0.61mi	5/3.0	2,495 (+1%)	7mo	$287,000	$115	62
7034 W Wrightwood Ave	0.51mi	5/3.0	2,600 (+6%)	4mo	$484,900	$187	61
2120 N 76th Ct	0.50mi	4/4.0 (-1)	2,625 (+6%)	1mo	$589,900	$225	54
2233 N 77th Ct	0.57mi	4/3.5 (-1)	2,250 (-9%)	2mo	$545,000	$242	48
1911 N 73rd Ave N	0.46mi	4/3.5 (-1)	2,200 (-11%)	8mo	$575,000	$261	45
1807 N 74th Ct	0.62mi	4/3.0 (-1)	2,720 (+10%)	3mo	$621,000	$228	44
2629 N 77th Ct	0.73mi	5/2.0	2,800 (+14%)	0mo	$597,700	$213	41

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 · 7.21% rent growth · sell at horizon

5-year hold

• IRR: -11.9%
• Equity multiple: 0.55×
• Total profit: $-59,258
• Equity at exit: $69,929

10-year hold

• IRR: 2.9%
• Equity multiple: 1.25×
• Total profit: $33,155
• Equity at exit: $40,551

Cash invested: $131,320 (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 60707

• Rents YoY: 7.2%
• Active inventory: 58
• Price-to-rent: 8.8×

Monthly cashflow live

• Estimated rent: $4,438 high
• Mortgage (P&I): −$2,459
• Tax from tax record: −$900 /mo · $10,799/yr
• Insurance: −$195
• HOA: −$0
• Vacancy / Maint / Mgmt: −$932
• Net cashflow: $-49

Break-even live

Break-even rent $4,500

Max offer price $460,362

Occupancy floor 96%

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: $117,250
• Closing costs: $14,070
• Reserves months: —
• Total cash needed: —

Rent comps 18 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
7659 W Sunset Dr Elmwood Park, IL	4.0	3.0	1600	$3,400	$2.12	24d	1	0.73mi
2112 N Nashville Ave Chicago, IL	2.0–4.0	2.0–3.0	1482	$4,699	$3.17	3d	15	0.94mi
3007 Cottonwood Ln River Grove, IL	4.0	3.5	2200	$4,800	$2.18	12d	1	1.32mi
3000 Cottonwood Ln River Grove, IL	3.0–4.0	3.5	2159	$5,300	$2.45	1d	7	1.33mi
3002 Cottonwood Ln River Grove, IL	4.0	3.5	2200	$4,800	$2.18	1d	1	1.33mi
3017 Cottonwood Ln River Grove, IL	4.0	3.5	2200	$4,800	$2.18	17d	1	1.34mi
3007 Birch Ln River Grove, IL	4.0	3.5	2200	$4,500	$2.05	22d	1	1.34mi
3006 Birch Ln River Grove, IL	4.0	3.5	2200	$5,300	$2.41	1d	1	1.35mi
3016 Cottonwood Ln River Grove, IL	4.0	3.5	2200	$4,800	$2.18	17d	1	1.35mi
3107 Cottonwood Ln River Grove, IL	4.0	3.5	2200	$4,800	$2.18	24d	1	1.37mi
3100 Birch Ln River Grove, IL	4.0	3.5	2200	$5,300	$2.41	1d	1	1.38mi
3106 Birch Ln River Grove, IL	4.0	3.5	2200	$5,300	$2.41	1d	1	1.39mi
3117 Birch Ln River Grove, IL	4.0	3.5	2200	$5,000	$2.27	12d	1	1.41mi
3017 Birch Ln River Grove, IL	4.0	3.5	2200	$4,800	$2.18	13d	1	1.41mi
3115 Birch Ln River Grove, IL	4.0	3.5	2200	$4,800	$2.18	12d	1	1.41mi
3102 Birch Ln River Grove, IL	4.0	3.5	2200	$5,000	$2.27	2d	1	1.41mi
3114 Birch Ln River Grove, IL	4.0	3.5	2200	$5,000	$2.27	5d	1	1.41mi
8036 Pine Ct River Grove, IL	4.0	3.5	2200	$5,300	$2.41	1d	1	1.42mi

Listing history 19 events

1. 2026-06-18
   days on market $469,000 Active 71 DOM
2. 2026-06-17
   days on market $469,000 Active 70 DOM
3. 2026-06-16
   days on market $469,000 Active 69 DOM
4. 2026-06-15
   days on market $469,000 Active 68 DOM
5. 2026-06-13
   days on market $469,000 Active 66 DOM
6. 2026-06-13
   days on market $469,000 Active 65 DOM
7. 2026-06-09
   days on market $469,000 Active 62 DOM
8. 2026-06-08
   pricedays on market $469,000 Active 61 DOM
9. 2026-06-07
   days on market $479,000 Active 60 DOM
10. 2026-06-04
    days on market $479,000 Active 57 DOM
11. 2026-06-03
    days on market $479,000 Active 56 DOM
12. 2026-06-02
    days on market $479,000 Active 55 DOM
13. 2026-06-01
    days on market $479,000 Active 54 DOM
14. 2026-05-31
    days on market $479,000 Active 53 DOM
15. 2026-04-30
    price $479,000 1522-char remark

    Show marketing remark (1522 chars)

    Bring the whole family. This home is HUGE! Situated on a corner lot, this spacious and unique home in Elmwood Park features 5+ bedrooms, 3 full baths, a finished basement, and one of the largest solid brick garages in Elmwood Park, complete with a full basement! There is rough in plumbing which appears to have been a bathroom in the past. Owners have never explored or tested for a bath. There also used to be a working furnace down there too. A mechanics dream come true! The main level is warm and inviting, featuring an open concept floor plan, two bedrooms (one currently being used as a theater room that can easily be converted back into a bedroom), a kitchen with a walk-in pantry, and a full bath. A wide staircase leads to the upper level, which includes a loft, walk-in closet, laundry room, full bath, and three bedrooms with brand-new carpet and padding. The primary bedroom features a skylight and dual walk-in closets. The upper level also has a furnace and A/C unit that are less than five years old. The finished basement offers an additional laundry room, kitchen, bathroom, utility room, and bedroom. The back yard has a 6 foot privacy fence . The back deck was previously modified for easy access to an above ground pool. A gas line is already installed if you want to add a heater to your own pool. This must-see home is conveniently located near schools, parks, shopping, restaurants, and much more! The current owners have enjoyed living here for the past 20 years! Agent is related to seller.

16. 2026-04-08
    listed $499,000 Active 1522-char remark

    Show marketing remark (1522 chars)

    Bring the whole family. This home is HUGE! Situated on a corner lot, this spacious and unique home in Elmwood Park features 5+ bedrooms, 3 full baths, a finished basement, and one of the largest solid brick garages in Elmwood Park, complete with a full basement! There is rough in plumbing which appears to have been a bathroom in the past. Owners have never explored or tested for a bath. There also used to be a working furnace down there too. A mechanics dream come true! The main level is warm and inviting, featuring an open concept floor plan, two bedrooms (one currently being used as a theater room that can easily be converted back into a bedroom), a kitchen with a walk-in pantry, and a full bath. A wide staircase leads to the upper level, which includes a loft, walk-in closet, laundry room, full bath, and three bedrooms with brand-new carpet and padding. The primary bedroom features a skylight and dual walk-in closets. The upper level also has a furnace and A/C unit that are less than five years old. The finished basement offers an additional laundry room, kitchen, bathroom, utility room, and bedroom. The back yard has a 6 foot privacy fence . The back deck was previously modified for easy access to an above ground pool. A gas line is already installed if you want to add a heater to your own pool. This must-see home is conveniently located near schools, parks, shopping, restaurants, and much more! The current owners have enjoyed living here for the past 20 years! Agent is related to seller.

17. 2000-04-07
    soldstatus $148,000
18. 1986-06-01
    soldstatus $93,000
19. 1976-10-25
    soldstatus $47,000

ⓘ 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: $10,799 · $900/mo
• Projected year-2 tax: $10,799 · $900/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 3/10 Moderate FEMA zone X (unshaded) · 20% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥100°F today · 14 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 5/10 Major 6 unhealthy d/yr today · 8 by 30 yrs out

Taxation est. · year 1

• Rental income: $53,255
• − Mortgage interest: −$26,271
• − Property taxes: −$10,799
• − Insurance: −$2,345
• − Repairs & maintenance: −$4,260
• − Management: −$4,260
• − Depreciation: −$13,644
• Taxable loss: −$8,325
• Est. tax savings @ 24.0%: +$1,998
• After-tax cash flow: $1,411/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: Elmwood Park CUSD 401
• NCES district ID: 1714100
• Math proficiency: 15% ▼ -14.00%
• Reading proficiency: 26% ▼ -14.00%
• Median HH income: $54,600
• Composite: 18.73/100
• National rank: #8879
• State rank: #403 of 620 in IL

Livability — Elmwood Park

• Score: 83/100
• State rank: #41
• US rank: #865

Category grades

Amenities B Commute A+ Cost of living C+ Crime A- Employment B+ Housing A+ Health & safety B- User ratings A+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Elmwood Park, IL
• County: Cook County · 4,486,803 people
• City population: 41,116
• Metro: Chicago-Naperville-Elgin, IL-IN-WI
• Population (ZIP): 41,116
• Household income: $84,799
• Rent vs Own: 34.0% rent · 66.0% own
• Severe rent burden: 1195.0

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 0.61)
• Race & ethnicity: White 45% Hispanic / Latino 43% Two or more races 14% Black 7% Asian 3%
• Hispanic origin (detail): Mexican 22% Puerto Rican 12% Cuban 1%
• Common ancestry: Romanian 13% Subsaharan African 2% Scotch-Irish 1%
• Foreign-born: 25% · Canada, Jamaica, Dominican Republic
• Languages at home: 54% English-only · Spanish 29% Russian/Polish/Slavic 11% Other Indo-European 3%

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: ▼ -256.46%
• Current HPI: 222.8083
• Rent YoY: ▲ 7.21%
• 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

+919.1% since first listed

5 events — show timeline

• 2026-04-30 Price Changed $479,000 MRED as Distributed by MLS Grid
• 2026-04-08 Listed $499,000 MRED as Distributed by MLS Grid
• 2000-04-07 Sold (Public Records) $148,000 Public Records
• 1986-06-01 Sold (Public Records) $93,000 Public Records
• 1976-10-25 Sold (Public Records) $47,000 Public Records

Property tax history

+5.0%/yr

Latest (2023): $10,799 · +3.4% YoY. Source: county tax records.