117 E Elm St · Wheaton, IL 60189

$400,000

4 bd · 2.5 ba · 2,055 sqft · SingleFamily public records · 20 Days on market

Built 1954 0.25 ac lot Est $553k · 28% 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 +17.7/30.0
• ARV discount +15.0/15.0
• 1% rule +5.8/10.0
• DSCR +5.5/10.0
• 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 MLS

YOU HAVE OPTIONS! A 4-bedroom 2.5 bath home with a large sun-filled living room with appointed wood-burning fireplace with built-in bookcases opening to the dining room with French doors leading to the screened-in porch. An eat-in kitchen with plenty of storage/prep space and breakfast bar. The family room with a gas potbelly stove and a convenient powder room. The west side of the home has 4 ample bedrooms including the master bedroom with a walk-in closet and private bath. The fully fenced backyard has a paver patio for cookouts. This property is steps from Kelly Park and within walking distance to the elementary and middle schools, Mariano's, the Prairie Path, and downtown Wheaton. It is a great investment property or tear down to build your dream home. Highly acclaimed Wheaton District 200 schools. Home is being sold "As-Is" due to concrete slab. We have three architectural engineer and one concrete contractor reports. Feel free to call the listing agent for more details.

Key facts

• Expansive lot
• Metra train access
• 0.25 acre lot

Tags

• HIGHLY WALKABLE DOWNTOWN
• EXPANSIVE LOT
• STEPS FROM KELLY PARK
• ILLINOIS PRAIRIE PATH
• METRA TRAIN ACCESS
• SUN-FILLED LIVING ROOM

Property features AI

Finance

• Other: Property is not currently leased; Possession at closing or immediate
• HOA & community: No master association fee required; Neighborhood includes a park

Exterior

• Parking: Attached garage (owned) with two garage spaces; Concrete driveway; Garage door opener
• Utilities: Water source: Lake Michigan; Public sewer; Electric service with circuit breakers
• Home design: Detached single-family home; One-story; Fee simple ownership; Built approximately 71–80 years ago; Asphalt roof; Brick and frame construction
• Construction: Brick and frame construction; Asphalt roof; Built before 1978
• Exterior features: Front porch and screened porch; Patio; Fenced yard; Curbs, sidewalks, street lights, paved streets; Lot dimensions 90 x 119 x 95 x 123

Interior

• Kitchen: Kitchen with eating area/breakfast bar and table space; Range; Microwave; Refrigerator
• Bedrooms: Four bedrooms (all on the main level); Master bedroom on main level with full bath
• Flooring: Luxury vinyl in living room, family room, and dining room; Ceramic tile in kitchen and eating area; Carpet in bedrooms
• Bathrooms: Two full bathrooms; One half bathroom
• Heating & cooling: Natural gas forced-air heating; Central air conditioning
• Interior features: Nine total rooms; Separate dining room; Two fireplaces with gas starters (family room and living room)
• Laundry & utility: Main-level laundry room; Washer and dryer included

What this means for you Summary

Snapshot

• This is a 4-bed/2.5-bath single-family listed at $400k.

Deal economics

• At list price, monthly cash flow is $323 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $400k).
• Recommended offer: $394k (1.5% below list) — sets the bar for market timing.
• Cap rate 7.3% 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: Whittier Elem School (math 59% / reading 44%, grade C-, #167 of 2,056 statewide, top 8%, 414 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); 53 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); high-income renter base; 1,378 units permitted in DuPage County in 2024 (594 in 5+ unit buildings).
• This rent runs 40% of the median local income ($129k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $12k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 20 days — a 2% lower offer ($394k) is reasonable based on typical stale-listing flexibility.
• 11 sale attempts since 15y ago 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 $220k; list at $400k implies a 82% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1954 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $394,000 (1.5% below list)

Questions for the listing agent

1. Built in 1954 — 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: 1.08% ✓
• Cap rate: 7.26%
• Cash-on-cash: 3.46%
• DSCR: 1.15
• GRM: 7.7

CMA / ARV

• ARV (on-the-fly): $552,795
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
909 S Main St	0.07mi	3/2.0 (-1)	2,088 (+2%)	4mo	$527,400	$253	83
104 E Elm St	0.05mi	3/2.5 (-1)	1,998 (-3%)	7mo	$439,900	$220	82
408 E Evergreen St	0.37mi	5/2.0 (+1)	2,075 (+1%)	6mo	$700,000	$337	69
1315 Underwood Ter	0.32mi	4/2.0	1,914 (-7%)	3mo	$460,000	$240	69
1526 Gainesboro Dr	0.55mi	3/2.5 (-1)	2,100 (+2%)	1mo	$600,000	$286	65
414 E Indiana St	0.44mi	4/2.0	1,934 (-6%)	8mo	$621,500	$321	61
1S538 Bayberry Ln	0.62mi	4/2.5	2,223 (+8%)	1mo	$630,000	$283	56
1542 Castlewood Dr	0.62mi	3/2.5 (-1)	1,946 (-5%)	2mo	$625,000	$321	55
829 E Evergreen St	0.67mi	4/2.5	2,184 (+6%)	7mo	$427,270	$196	52
215 S Washington St	0.61mi	3/1.5 (-1)	2,102 (+2%)	8mo	$565,500	$269	52
510 S President St	0.74mi	3/2.0 (-1)	1,944 (-5%)	1mo	$415,000	$213	49
1018 Dawes Ave	0.73mi	3/2.0 (-1)	1,844 (-10%)	0mo	$476,000	$258	42

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: -10.3%
• Equity multiple: 0.62×
• Total profit: $-42,441
• Equity at exit: $59,641

10-year hold

• IRR: -0.4%
• Equity multiple: 0.97×
• Total profit: $-3,073
• Equity at exit: $34,585

Cash invested: $112,000 (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 60189

• Rents YoY: 3.4%
• Active inventory: 53
• Price-to-rent: 7.7×

Monthly cashflow live

• Estimated rent: $4,317 medium
• Mortgage (P&I): −$2,098
• Tax from tax record: −$823 /mo · $9,875/yr
• Insurance: −$167
• HOA: −$0
• Vacancy / Maint / Mgmt: −$907
• Net cashflow: $323

Break-even live

Break-even rent $3,908

Max offer price $400,000

Occupancy floor 88%

Sensitivity live

Price	-10% $550	-5% $436	+0% $323	+5% $210	+10% $97
Rent	-10% $-18	-5% $153	+0% $323	+5% $494	+10% $664
Rate	-1.0pp $525	-0.5pp $425	base $323	+0.5pp $220	+1.0pp $114

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: $100,000
• Closing costs: $12,000
• Reserves months: —
• Total cash needed: —

Rent comps 3 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	25d	16	0.60mi
250 S Naperville Rd Wheaton, IL	3.0	1.0–2.0	1061	$5,058	$4.77	0d	10	0.60mi
1633 Leytonstone Dr Unit 1633 Wheaton, IL	3.0	1.5	1516	$2,600	$1.72	14d	1	1.00mi

Listing history 14 events

1. 2026-06-21
   days on market $400,000 Active 20 DOM
2. 2026-06-18
   days on market $400,000 Active 17 DOM
3. 2026-06-17
   statusdays on market $400,000 Active 16 DOM
4. 2026-06-16
   days on market $400,000 Contingent - Continue to Show 15 DOM
5. 2026-06-15
   days on market $400,000 Contingent - Continue to Show 14 DOM
6. 2026-06-13
   days on market $400,000 Contingent - Continue to Show 12 DOM
7. 2026-06-13
   statusdays on market $400,000 Contingent - Continue to Show 11 DOM
8. 2026-06-09
   days on market $400,000 Active 8 DOM
9. 2026-06-08
   days on market $400,000 Active 7 DOM
10. 2026-06-07
    days on market $400,000 Active 6 DOM
11. 2026-06-04
    days on market $400,000 Active 3 DOM
12. 2026-06-03
    days on market $400,000 Active 2 DOM
13. 2026-06-02
    remarks 695-char remark
14. 2026-06-02
    listed $400,000 Active 1 DOM

ⓘ 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: $9,875 · $823/mo
• Projected year-2 tax: $9,875 · $823/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 6/10 Major FEMA zone X (shaded) · 74% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥104°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: $51,804
• − Mortgage interest: −$22,406
• − Property taxes: −$9,875
• − Insurance: −$2,000
• − Repairs & maintenance: −$4,144
• − Management: −$4,144
• − Depreciation: −$11,636
• Taxable loss: −$2,402
• Est. tax savings @ 24.0%: +$576
• After-tax cash flow: $4,455/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

+212.5% since first listed

29 events — show timeline

• 2026-06-01 Listed $400,000 MRED as Distributed by MLS Grid
• 2023-10-06 Sold (Public Records) $220,000 Public Records
• 2021-03-09 Sold (Public Records) $220,000 Public Records
• 2021-02-26 Sold (MLS) $220,000 MRED as Distributed by MLS Grid
• 2021-01-21 Pending — MRED as Distributed by MLS Grid
• 2020-12-17 Listed $230,500 MRED as Distributed by MLS Grid
• 2019-11-06 Listing Removed — MRED as Distributed by MLS Grid
• 2019-11-06 Listing Removed — MRED as Distributed by MLS Grid
• 2019-05-08 Relisted — MRED as Distributed by MLS Grid
• 2019-04-24 Listing Removed — MRED as Distributed by MLS Grid
• 2019-04-02 Listed — MRED as Distributed by MLS Grid
• 2019-04-02 Listed — MRED as Distributed by MLS Grid
• 2017-10-31 Listing Removed — MRED as Distributed by MLS Grid
• 2017-10-31 Listing Removed — MRED as Distributed by MLS Grid
• 2016-08-30 Listed — MRED as Distributed by MLS Grid
• 2014-05-23 Listing Removed — MRED as Distributed by MLS Grid
• 2013-02-22 Listed — MRED as Distributed by MLS Grid
• 2013-02-22 Listed — MRED as Distributed by MLS Grid
• 2012-07-02 Listing Removed — MRED as Distributed by MLS Grid
• 2012-04-17 Price Changed — MRED as Distributed by MLS Grid
• 2012-02-17 Listed — MRED as Distributed by MLS Grid
• 2011-09-08 Listing Removed — MRED as Distributed by MLS Grid
• 2011-08-22 Relisted — MRED as Distributed by MLS Grid
• 2011-08-20 Listing Removed — MRED as Distributed by MLS Grid
• 2011-07-22 Price Changed — MRED as Distributed by MLS Grid
• 2011-04-25 Listed — MRED as Distributed by MLS Grid
• 1999-08-11 Sold (Public Records) $212,000 Public Records
• 1993-12-08 Sold (Public Records) $168,000 Public Records
• 1988-03-01 Sold (Public Records) $128,000 Public Records

Property tax history

+2.4%/yr

Latest (2024): $9,875 · +3.6% YoY. Source: county tax records.