1143 Bayside Rd · Elgin, IL 60123

$141,900

2 bd · 2.0 ba · 938 sqft · Manufactured · 328 Days on market

Built 2025 ↓ 14% since listing

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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 +27.7/30.0
• DSCR +9.8/10.0
• 1% rule +7.6/10.0
• ARV discount +7.5/15.0
• Livability +4.2/5.0
• Rent growth +3.4/5.0
• Condition / age +2.5/5.0
• Schools +1.9/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

55+ age qualified community. Welcome to Willow Lake Estates, a vibrant 55+ community in Elgin, IL, where modern living meets timeless charm. This brand-new 2 bedroom, 2 bathroom home offers 938 sq. ft. of fresh, thoughtfully designed space on one of the community's most desirable streets. Enjoy an open-concept layout with luxury vinyl plank flooring, a sleek modern kitchen with stainless steel appliances, and a private primary suite with an en-suite bath. A covered front porch and attached carport add comfort and convenience, while low-maintenance landscaping makes outdoor living easy. Located in a beautifully maintained community with amenities including a clubhouse, outdoor pool, billiards room, and spring-fed lakes, you're also just minutes from shopping, dining, healthcare, and major expressways. Call today to schedule your private tour!

Key facts

• En-suite bath
• Modern kitchen
• Open-concept layout

Tags

• OPEN-CONCEPT LAYOUT
• LUXURY VINYL PLANK FLOORING
• MODERN KITCHEN
• STAINLESS STEEL APPLIANCES
• PRIVATE PRIMARY SUITE
• EN-SUITE BATH

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $142k.

Deal economics

• At list price, monthly cash flow is $428 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $142k).
• Recommended offer: $125k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.9% vs local median 3.4% in Elgin — 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 (#47 in IL, #975 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, housing A+; Watch: health & safety C-, schools D-.
• SD U-46 (suburban): math 19% / reading 20% proficiency, ranked #386 of 620 in IL (top 62%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: Rents rising (+3.7%/yr); 93 active listings in the ZIP; 12 comparable units currently listed for rent nearby; rentals leasing fast (median 7d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 1,944 units permitted in Kane County in 2024 (357 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $981 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.7% rent growth), your $40k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 328 days — a 12% lower offer ($125k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 12y ago; this cycle's ask has dropped $23k (14%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $124,872 (12.0% below list)

Questions for the listing agent

1. It's been on market 328 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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: 1.26% ✓
• Cap rate: 9.91%
• Cash-on-cash: 12.93%
• DSCR: 1.58
• GRM: 6.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.69% rent growth · sell at horizon

5-year hold

• IRR: 3.6%
• Equity multiple: 1.14×
• Total profit: $5,556
• Equity at exit: $21,158

10-year hold

• IRR: 13.8%
• Equity multiple: 2.14×
• Total profit: $45,258
• Equity at exit: $12,269

Cash invested: $39,732 (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 60123

• Rents YoY: 3.7%
• Active inventory: 93
• Price-to-rent: 6.6×

Monthly cashflow live

• Estimated rent: $1,783 high
• Mortgage (P&I): −$744
• Tax est. 1.5%: −$177 /mo · $2,128/yr
• Insurance: −$59
• HOA: −$0
• Vacancy / Maint / Mgmt: −$375
• Net cashflow: $428

Break-even live

Break-even rent $1,241

Max offer price $141,900

Occupancy floor 71%

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: $35,475
• Closing costs: $4,257
• Reserves months: —
• Total cash needed: —

Rent comps 12 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
224 Jefferson Ave Apt 7 Elgin, IL	1.0	1.0	650	$1,350	$2.08	24d	1	1.01mi
50 Canterfield Pkwy W Dundee Township, IL	1.0–3.0	1.0–3.0	1075	$2,512	$2.34	43d	15	1.07mi
50 Canterfield Pkwy W Dundee Township, IL	2.0	1.0	1018	$2,225	$2.19	2d	1	1.07mi
50 Canterfield Pkwy W Dundee Township, IL	1.0	1.0	761	$1,775	$2.33	3d	1	1.07mi
1900 Canterfield Pkwy E West Dundee, IL	3.0	1.0–2.0	1026	$2,415	$2.35	1d	6	1.08mi
420 Prospect Blvd Unit 1-N Elgin, IL	2.0	1.0	800	$1,700	$2.12	7d	1	1.23mi
406 Prospect Blvd Unit 2 Elgin, IL	2.0	1.0	900	$1,525	$1.69	4d	1	1.25mi
1253 Getzelman Dr Unit 2N Elgin, IL	2.0	1.0	800	$1,350	$1.69	24d	1	1.42mi
1269 Getzelman Dr Apt 1E Elgin, IL	2.0	1.0	900	$1,450	$1.61	43d	1	1.44mi
926 Congdon Ave Elgin, IL	1.0–3.0	1.0–1.5	813	$1,848	$2.27	1d	33	1.47mi
1300 Getzelman Dr Unit 6 Elgin, IL	2.0	1.0	800	$1,500	$1.88	24d	1	1.48mi
6 Tivoli Pl Elgin, IL	1.0–2.0	1.0	837	$1,800	$2.15	1d	1	1.50mi

Listing history 20 events

1. 2026-06-18
   days on market $141,900 Active 328 DOM
2. 2026-06-17
   days on market $141,900 Active 327 DOM
3. 2026-06-16
   days on market $141,900 Active 326 DOM
4. 2026-06-15
   days on market $141,900 Active 325 DOM
5. 2026-06-13
   days on market $141,900 Active 323 DOM
6. 2026-06-09
   days on market $141,900 Active 319 DOM
7. 2026-06-08
   days on market $141,900 Active 318 DOM
8. 2026-06-07
   days on market $141,900 Active 317 DOM
9. 2026-06-04
   days on market $141,900 Active 314 DOM
10. 2026-06-03
    days on market $141,900 Active 313 DOM
11. 2026-06-02
    days on market $141,900 Active 312 DOM
12. 2026-06-01
    days on market $141,900 Active 311 DOM
13. 2026-05-31
    days on market $141,900 Active 310 DOM
14. 2026-05-14
    price $141,900 853-char remark

    Show marketing remark (853 chars)

    55+ age qualified community. Welcome to Willow Lake Estates, a vibrant 55+ community in Elgin, IL, where modern living meets timeless charm. This brand-new 2 bedroom, 2 bathroom home offers 938 sq. ft. of fresh, thoughtfully designed space on one of the community's most desirable streets. Enjoy an open-concept layout with luxury vinyl plank flooring, a sleek modern kitchen with stainless steel appliances, and a private primary suite with an en-suite bath. A covered front porch and attached carport add comfort and convenience, while low-maintenance landscaping makes outdoor living easy. Located in a beautifully maintained community with amenities including a clubhouse, outdoor pool, billiards room, and spring-fed lakes, you're also just minutes from shopping, dining, healthcare, and major expressways. Call today to schedule your private tour!

15. 2026-04-29
    price $142,900 853-char remark

    Show marketing remark (853 chars)

    55+ age qualified community. Welcome to Willow Lake Estates, a vibrant 55+ community in Elgin, IL, where modern living meets timeless charm. This brand-new 2 bedroom, 2 bathroom home offers 938 sq. ft. of fresh, thoughtfully designed space on one of the community's most desirable streets. Enjoy an open-concept layout with luxury vinyl plank flooring, a sleek modern kitchen with stainless steel appliances, and a private primary suite with an en-suite bath. A covered front porch and attached carport add comfort and convenience, while low-maintenance landscaping makes outdoor living easy. Located in a beautifully maintained community with amenities including a clubhouse, outdoor pool, billiards room, and spring-fed lakes, you're also just minutes from shopping, dining, healthcare, and major expressways. Call today to schedule your private tour!

16. 2026-01-23
    price $144,900 853-char remark

    Show marketing remark (853 chars)

    55+ age qualified community. Welcome to Willow Lake Estates, a vibrant 55+ community in Elgin, IL, where modern living meets timeless charm. This brand-new 2 bedroom, 2 bathroom home offers 938 sq. ft. of fresh, thoughtfully designed space on one of the community's most desirable streets. Enjoy an open-concept layout with luxury vinyl plank flooring, a sleek modern kitchen with stainless steel appliances, and a private primary suite with an en-suite bath. A covered front porch and attached carport add comfort and convenience, while low-maintenance landscaping makes outdoor living easy. Located in a beautifully maintained community with amenities including a clubhouse, outdoor pool, billiards room, and spring-fed lakes, you're also just minutes from shopping, dining, healthcare, and major expressways. Call today to schedule your private tour!

17. 2025-07-26
    listed $164,900 Active 853-char remark

    Show marketing remark (853 chars)

    55+ age qualified community. Welcome to Willow Lake Estates, a vibrant 55+ community in Elgin, IL, where modern living meets timeless charm. This brand-new 2 bedroom, 2 bathroom home offers 938 sq. ft. of fresh, thoughtfully designed space on one of the community's most desirable streets. Enjoy an open-concept layout with luxury vinyl plank flooring, a sleek modern kitchen with stainless steel appliances, and a private primary suite with an en-suite bath. A covered front porch and attached carport add comfort and convenience, while low-maintenance landscaping makes outdoor living easy. Located in a beautifully maintained community with amenities including a clubhouse, outdoor pool, billiards room, and spring-fed lakes, you're also just minutes from shopping, dining, healthcare, and major expressways. Call today to schedule your private tour!

18. 2014-09-29
    status Pending
19. 2014-09-28
    historical
20. 2014-09-06
    listed New

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $21,401
• − Mortgage interest: −$7,949
• − Property taxes: −$2,128
• − Insurance: −$710
• − Repairs & maintenance: −$1,712
• − Management: −$1,712
• − Depreciation: −$4,128
• Taxable income: $3,062
• Est. tax owed @ 24.0%: −$735
• After-tax cash flow: $4,404/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: SD U-46
• NCES district ID: 1713710
• Math proficiency: 19% ▼ -7.00%
• Reading proficiency: 20% ▼ -7.00%
• Median HH income: $69,757
• Composite: 19.39/100
• National rank: #8783
• State rank: #386 of 620 in IL

Livability — Elgin

• Score: 83/100
• State rank: #47
• US rank: #975

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Elgin, IL
• County: Kane County · 361,735 people
• City population: 124,091
• Metro: Chicago-Naperville-Elgin, IL-IN-WI
• Population (ZIP): 48,379
• Household income: $87,693
• Rent vs Own: 27.2% rent · 72.8% own
• Severe rent burden: 1119.0

Population outlook (Kane County) Hauer SSP2

• Today (2025): 559,449 people
• By 2030: 568,757 · +1.7%
• By 2040: 575,969 · +3.0%
• By 2050: 563,477 · +0.7%
• By 2075: 492,321 · -12.0%
• By 2100: 380,943 · -31.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.63)
• Race & ethnicity: Hispanic / Latino 47% White 38% Two or more races 17% Black 6% Asian 5% Native American 1%
• Hispanic origin (detail): Mexican 38% Puerto Rican 4%
• Common ancestry: Romanian 5% Italian 2% Slovak 1%
• Foreign-born: 23% · Canada, Jamaica
• Languages at home: 57% English-only · Spanish 38% Other Asian/Pacific 1% Other Indo-European 1%

Political lean MEDSL · Kane

• 2024 margin: Lean D (+9.4) · D 54.0% · R 44.6% · Other 1.4%
• 2008→2024 swing: -2.4pp toward R · 2008: 11.8pp · 2024: 9.4pp
• All cycles: 2024: D+9.4 2020: D+14.4 2016: D+8.9 2012: D+0.9 2008: D+11.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -140.80%
• Current HPI: 226.0713
• Rent YoY: ▲ 3.69%
• 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

-13.9% since first listed

7 events — show timeline

• 2026-05-14 Price Changed $141,900 Zillow
• 2026-04-29 Price Changed $142,900 Zillow
• 2026-01-23 Price Changed $144,900 Zillow
• 2025-07-26 Listed $164,900 Zillow
• 2014-09-29 Pending — MRED as Distributed by MLS Grid
• 2014-09-28 Listing Removed — MRED as Distributed by MLS Grid
• 2014-09-06 Listed — MRED as Distributed by MLS Grid