3420 Warren Ave · Bellwood, IL 60104

$475,000

8 bd · 5.0 ba · 3,939 sqft · MultiFamily public records · 87 Days on market

Built 1963 5,000 sqft lot Est $504k · 6% under

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Why this score? — see what drove the B 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 +30.0/30.0
• ARV discount +10.1/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.4/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 5 units. confirmed

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks

Attention investors! Amazing opportunity in rapidly developing and revitalizing Bellwood. First time on the market in over 26 years. This well-maintained 5-unit has a desirable unit mix of one 3BD/1BA and four 2BD/1BA units, plus 5 parking spaces. Fully occupied with long-term tenants for immediate stable income. Newer boiler and water heater (4-6 years) and newer windows (within the past 10 years). Easy to manage and maintain. Great opportunity in a growing area- don't miss it!

Key facts

• 5,000 sq ft lot
• Built 1963
• Listed 86 days

Property features AI

Finance

• Other: Parcel number on file
• Financial info: Total monthly income reported around $6,000; Gross annual income reported around $72,000; Gross rent multiplier approximately 6.6; Unit-level monthly rents reported roughly $1,000–$1,250; Expense examples reported: water/sewer, electric, trash, insurance
• HOA & community: No HOA information provided

Exterior

• Parking: Outdoor parking with 1–5 spaces available
• Security: No security details provided
• Utilities: Water and sewer service (water/sewer expense reported); Electric service
• Home design: Multi-family building (5+ units); Pitched composition roof
• Construction: Composition roof; Pitched roof structure; Built before 1978
• Exterior features: Lot dimensions approximately 40 x 125

Interior

• Kitchen: Standard kitchens (specific appliances not listed)
• Bedrooms: Units include 2-bedroom and 3-bedroom configurations (varies by unit)
• Flooring: Flooring details not provided
• Bathrooms: Each unit has one full bathroom
• Heating & cooling: Baseboard heating
• Interior features: Five-room and six-room unit layouts; Building contains five residential units; Property built before 1978
• Laundry & utility: No laundry/utility details provided

What this means for you Summary

Snapshot

• This is a 4×2bd/1.0ba + 1×3bd/1.0ba units multifamily listed at $475k.

Deal economics

• At list price, monthly cash flow is $3k ($32k/yr) — positive. Per door: $531/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($8k rent vs $475k).
• Recommended offer: $446k (6.0% below list) — sets the bar for market timing.
• Cap rate 13.0% vs local median 5.3% in Bellwood — 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 77/100 on livability (#155 in IL, #2,847 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: health & safety D+, schools F, amenities F.
• Proviso Twp Hsd 209 (suburban): math 12% / reading 17% proficiency, ranked #507 of 620 in IL (top 82%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 43 active listings in the ZIP; 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 $3k of loan paydown is wiped out by about $14k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $133k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 87 days — a 6% lower offer ($446k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $170k; list at $475k implies a 179% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 3.2% of price.

Recommended offer $446,500 (6.0% below list)

Questions for the listing agent

1. It's been on market 87 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1963 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
9. 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.
10. 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.
11. 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: 1.76% ✓
• Cap rate: 13.00%
• Cash-on-cash: 23.96%
• DSCR: 2.07
• GRM: 4.7

CMA / ARV

• ARV (on-the-fly): $504,192
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1013 Bellwood Ave	0.36mi	9/5.0 (+1)	3,700 (-6%)	1mo	$475,000	$128	67

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 17.2%
• Equity multiple: 1.70×
• Total profit: $92,672
• Equity at exit: $70,824

10-year hold

• IRR: 25.8%
• Equity multiple: 3.26×
• Total profit: $300,618
• Equity at exit: $41,069

Cash invested: $133,000 (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 60104

• Active inventory: 43
• Price-to-rent: 24.0×

Monthly cashflow live

• Estimated rent: $8,354 high
• Mortgage (P&I): −$2,491
• Tax from tax record: −$1,256 /mo · $15,067/yr
• Insurance: −$198
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,754
• Net cashflow: $2,655

Break-even live

Break-even rent $4,993

Max offer price $475,000

Occupancy floor 63%

Sensitivity live

Price	-10% $2,924	-5% $2,790	+0% $2,655	+5% $2,521	+10% $2,386
Rent	-10% $1,995	-5% $2,325	+0% $2,655	+5% $2,985	+10% $3,315
Rate	-1.0pp $2,894	-0.5pp $2,776	base $2,655	+0.5pp $2,532	+1.0pp $2,407

5-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 4× units	2	1	$6,592
1× unit	3	1	$1,762
Total (5 units)			$8,354

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: $118,750
• Closing costs: $14,250
• Reserves months: —
• Total cash needed: —

Listing history 22 events

1. 2026-06-21
   days on market $475,000 Active 87 DOM
2. 2026-06-18
   days on market $475,000 Active 84 DOM
3. 2026-06-17
   days on market $475,000 Active 83 DOM
4. 2026-06-16
   days on market $475,000 Active 82 DOM
5. 2026-06-15
   days on market $475,000 Active 81 DOM
6. 2026-06-13
   days on market $475,000 Active 79 DOM
7. 2026-06-13
   days on market $475,000 Active 78 DOM
8. 2026-06-09
   days on market $475,000 Active 75 DOM
9. 2026-06-08
   statusdays on market $475,000 Active 74 DOM
10. 2026-06-07
    days on market $475,000 Contingent - Continue to Show 73 DOM
11. 2026-06-04
    days on market $475,000 Contingent - Continue to Show 70 DOM
12. 2026-06-03
    days on market $475,000 Contingent - Continue to Show 69 DOM
13. 2026-06-02
    days on market $475,000 Contingent - Continue to Show 68 DOM
14. 2026-06-01
    days on market $475,000 Contingent - Continue to Show 67 DOM
15. 2026-05-31
    days on market $475,000 Contingent - Continue to Show 66 DOM
16. 2026-05-11
    historical Contingent - Continue to Show
17. 2026-03-26
    listed $475,000 Active
18. 2025-09-30
    historical
19. 2025-07-17
    price
20. 2025-06-25
    listed Active
21. 1999-03-17
    soldstatus $170,000
22. 1986-10-09
    soldstatus $105,000

ⓘ 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: $15,067 · $1,256/mo
• Projected year-2 tax: $15,067 · $1,256/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 4/10 Moderate FEMA zone X (unshaded) · 20% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥101°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 6 unhealthy d/yr today · 7 by 30 yrs out

Taxation est. · year 1

• Rental income: $100,248
• − Mortgage interest: −$26,607
• − Property taxes: −$15,067
• − Insurance: −$2,375
• − Repairs & maintenance: −$8,020
• − Management: −$8,020
• − Depreciation: −$13,818
• Taxable income: $26,340
• Est. tax owed @ 24.0%: −$6,322
• After-tax cash flow: $25,540/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: Proviso Twp Hsd 209
• NCES district ID: 1732910
• Math proficiency: 12% ▼ -4.00%
• Reading proficiency: 17% ▼ -3.00%
• Median HH income: $51,744
• Composite: 13.5/100
• National rank: #9518
• State rank: #507 of 620 in IL

Livability — Bellwood

• Score: 77/100
• State rank: #155
• US rank: #2847

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Bellwood, IL
• City population: 18,390
• Population (ZIP): 18,390

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: Predominantly Black (70%)
• Race & ethnicity: Black 70% Hispanic / Latino 23% Two or more races 7% White 4% Asian 1%
• Hispanic origin (detail): Mexican 18% Puerto Rican 4%
• Common ancestry: Romanian 1%
• Foreign-born: 10% · Canada
• Languages at home: 78% English-only · Spanish 20% Other Indo-European 1%

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: ▼ -212.49%
• Current HPI: 290.8215
• Rent YoY: —
• Metro: —
• 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

+352.4% since first listed

7 events — show timeline

• 2026-05-11 Contingent — MRED as Distributed by MLS Grid
• 2026-03-26 Listed $475,000 MRED as Distributed by MLS Grid
• 2025-09-30 Listing Removed — MRED as Distributed by MLS Grid
• 2025-07-17 Price Changed — MRED as Distributed by MLS Grid
• 2025-06-25 Listed — MRED as Distributed by MLS Grid
• 1999-03-17 Sold (Public Records) $170,000 Public Records
• 1986-10-09 Sold (Public Records) $105,000 Public Records

Property tax history

+3.3%/yr

Latest (2023): $15,067 · +14.8% YoY. Source: county tax records.