9128 W Terrace Dr Unit 6L · Niles, IL 60714

$175,000

1 bd · 1.0 ba · 650 sqft · Condo · 82 Days on market

Built 1985 $299/mo HOA · 16% of rent

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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 +12.3/30.0
• ARV discount +7.5/15.0
• 1% rule +5.4/10.0
• Livability +4.2/5.0
• DSCR +3.6/10.0
• Schools +3.4/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Beautifully maintained bright and airy unit. Kitchen overlooks living room and balcony. Large living room includes oversized slider to fabulous balcony, perfect for lounging on a warm day. Good sized master bedroom has plenty of closet space and a large window for tons of natural light. Storage lockers and laundry conveniently located on each floor. Elevator and secured front entry. Plenty of parking available. Clubhouse includes fitness center, party room, sauna and outdoor pool. On-site manager. Great location near access to expressway, parks and forest preserves, shopping and restaurants.

Key facts

• Near dining
• Near shopping
• Private balcony

Tags

• PRIVATE BALCONY
• ELEVATOR BUILDING
• AMPLE STORAGE
• SWIMMING POOL
• NEAR SHOPPING
• NEAR DINING

Property features AI

Finance

• Other: 82 units in the building; Living area is estimated; Not currently leased
• HOA & community: Monthly association fee of $299; Association fee covers water, parking, insurance, pool, exterior maintenance, lawn care, trash service, and snow removal; Building amenities include elevator(s), exercise room, party room, pool, clubhouse, laundry, and intercom; Pets allowed (with number limit)

Exterior

• Parking: 2 parking spaces (other type)
• Utilities: Public water; Public sewer
• Home design: Attached single condo; Located on 6th floor (entry level 6); Brick construction
• Construction: Built approximately 41–50 years ago; Brick construction
• Exterior features: Common lot ownership

Interior

• Kitchen: Kitchen (main level)
• Bedrooms: 1 bedroom (main level)
• Flooring: Carpet in living room and bedroom
• Bathrooms: 1 full bathroom
• Heating & cooling: Electric heating; Wall unit cooling
• Interior features: Elevator access; On-site storage; 3 total rooms
• Laundry & utility: Dedicated laundry room

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $175k.

Deal economics

• At list price, monthly cash flow is $-33 ($-396/yr) — negative.
• To cash-flow at today's rent, offer at most $169k (3.3% below list).
• Meets the 1% rule at list price ($2k rent vs $175k).
• Recommended offer: $164k (6.0% below list) — sets the bar for market timing.
• Cap rate 6.1% vs local median 4.3% in Niles — 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 (#53 in IL, #1,001 nationally) — a professional / high-income tenant draw. Strengths: commute A+, amenities A, housing A; Watch: schools C-, health & safety D+.
• Maine Township Hsd 207 (suburban): math 34% / reading 39% proficiency, ranked #143 of 620 in IL (top 23%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 31 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals leasing fast (median 3d 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 82 days — a 6% lower offer ($164k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 4y 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 $135k; 30% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $164,500 (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 82 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. 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?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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 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: 1.04% ✓
• Cap rate: 6.07%
• Cash-on-cash: -0.81%
• DSCR: 0.96
• GRM: 8.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -17.5%
• Equity multiple: 0.38×
• Total profit: $-30,275
• Equity at exit: $26,093

10-year hold

• IRR: -9.3%
• Equity multiple: 0.42×
• Total profit: $-28,320
• Equity at exit: $15,131

Cash invested: $49,000 (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 60714

• Active inventory: 31
• Price-to-rent: 8.0×

Monthly cashflow live

• Estimated rent: $1,814 high
• Mortgage (P&I): −$918
• Tax from tax record: −$176 /mo · $2,113/yr
• Insurance: −$73
• HOA: −$299
• Vacancy / Maint / Mgmt: −$381
• Net cashflow: $-33

Break-even live

Break-even rent $1,855

Max offer price $169,168

Occupancy floor 97%

Sensitivity live

Price	-10% $66	-5% $17	+0% $-33	+5% $-83	+10% $-132
Rent	-10% $-176	-5% $-105	+0% $-33	+5% $39	+10% $110
Rate	-1.0pp $55	-0.5pp $11	base $-33	+0.5pp $-78	+1.0pp $-124

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: $43,750
• Closing costs: $5,250
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
9074 W Terrace Dr Unit 6G Niles, IL	1.0	1.0	644	$1,550	$2.41	13d	1	0.07mi
9074 W Terrace Dr Niles, IL	1.0	1.0	644	$1,550	$2.41	19d	1	0.08mi
9700 Sumac Rd Des Plaines, IL	1.0–2.0	1.0–2.0	950	$1,625	$1.71	0d	4	0.16mi
9805 Bianco Ter Unit F Des Plaines, IL	1.0	1.0	750	$1,650	$2.20	25d	1	0.21mi
8961 W Golf Rd Niles, IL	1.0–2.0	1.0–2.0	804	$1,900	$2.36	3d	1	0.28mi
8975 W Golf Rd Niles, IL	1.0–2.0	1.0–2.0	804	$1,900	$2.36	3d	1	0.30mi
10020 Holly Ln Des Plaines, IL	1.0–2.0	1.0	700	$1,415	$2.02	0d	15	0.68mi
9030 Kennedy Dr Des Plaines, IL	1.0–2.0	1.0–1.5	770	$1,559	$2.02	0d	27	0.76mi
150 N East River Rd Des Plaines, IL	3.0	1.0–2.0	1008	$2,392	$2.37	0d	27	0.88mi
1860 Parkside Dr Unit B1 Park Ridge, IL	1.0	1.0	675	$1,750	$2.59	14d	1	1.03mi
8805 Dee Rd Unit GN Des Plaines, IL	1.0	1.0	650	$1,500	$2.31	16d	1	1.08mi

HOA detail condo

• Monthly dues: $299 · $3,588/yr
• Likely covers: poolgym
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 24 events

1. 2026-06-21
   days on market $175,000 Active 82 DOM
2. 2026-06-18
   days on market $175,000 Active 79 DOM
3. 2026-06-17
   days on market $175,000 Active 78 DOM
4. 2026-06-16
   days on market $175,000 Active 77 DOM
5. 2026-06-15
   days on market $175,000 Active 76 DOM
6. 2026-06-13
   days on market $175,000 Active 74 DOM
7. 2026-06-13
   days on market $175,000 Active 73 DOM
8. 2026-06-09
   days on market $175,000 Active 70 DOM
9. 2026-06-08
   days on market $175,000 Active 69 DOM
10. 2026-06-07
    days on market $175,000 Active 68 DOM
11. 2026-06-04
    days on market $175,000 Active 65 DOM
12. 2026-06-03
    days on market $175,000 Active 64 DOM
13. 2026-06-02
    days on market $175,000 Active 63 DOM
14. 2026-06-01
    days on market $175,000 Active 62 DOM
15. 2026-05-31
    days on market $175,000 Active 61 DOM
16. 2026-03-31
    listed $175,000 Active
17. 2022-12-09
    soldstatus $135,000
18. 2022-12-07
    soldstatus $134,900 Closed 599-char remark

    Show marketing remark (599 chars)

    Beautifully maintained bright and airy unit. Kitchen overlooks living room and balcony. Large living room includes oversized slider to fabulous balcony, perfect for lounging on a warm day. Good sized master bedroom has plenty of closet space and a large window for tons of natural light. Storage lockers and laundry conveniently located on each floor. Elevator and secured front entry. Plenty of parking available. Clubhouse includes fitness center, party room, sauna and outdoor pool. On-site manager. Great location near access to expressway, parks and forest preserves, shopping and restaurants.

19. 2022-10-17
    status Pending 599-char remark

    Show marketing remark (599 chars)

    Beautifully maintained bright and airy unit. Kitchen overlooks living room and balcony. Large living room includes oversized slider to fabulous balcony, perfect for lounging on a warm day. Good sized master bedroom has plenty of closet space and a large window for tons of natural light. Storage lockers and laundry conveniently located on each floor. Elevator and secured front entry. Plenty of parking available. Clubhouse includes fitness center, party room, sauna and outdoor pool. On-site manager. Great location near access to expressway, parks and forest preserves, shopping and restaurants.

20. 2022-09-22
    price $134,900 599-char remark

    Show marketing remark (599 chars)

    Beautifully maintained bright and airy unit. Kitchen overlooks living room and balcony. Large living room includes oversized slider to fabulous balcony, perfect for lounging on a warm day. Good sized master bedroom has plenty of closet space and a large window for tons of natural light. Storage lockers and laundry conveniently located on each floor. Elevator and secured front entry. Plenty of parking available. Clubhouse includes fitness center, party room, sauna and outdoor pool. On-site manager. Great location near access to expressway, parks and forest preserves, shopping and restaurants.

21. 2022-09-09
    listed $137,000 Active 599-char remark

    Show marketing remark (599 chars)

    Beautifully maintained bright and airy unit. Kitchen overlooks living room and balcony. Large living room includes oversized slider to fabulous balcony, perfect for lounging on a warm day. Good sized master bedroom has plenty of closet space and a large window for tons of natural light. Storage lockers and laundry conveniently located on each floor. Elevator and secured front entry. Plenty of parking available. Clubhouse includes fitness center, party room, sauna and outdoor pool. On-site manager. Great location near access to expressway, parks and forest preserves, shopping and restaurants.

22. 1992-09-09
    soldstatus $63,000
23. 1989-06-05
    soldstatus $46,000
24. 1988-06-03
    soldstatus $21,000

ⓘ 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: $2,113 · $176/mo
• Projected year-2 tax: $3,043 · $254/mo
• Expected delta: +$930/yr (+$77/mo · 44.0%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥99°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: $21,762
• − Mortgage interest: −$9,803
• − Property taxes: −$2,113
• − Insurance: −$875
• − Repairs & maintenance: −$1,741
• − Management: −$1,741
• − HOA: −$3,588
• − Depreciation: −$5,091
• Taxable loss: −$3,189
• Est. tax savings @ 24.0%: +$765
• After-tax cash flow: $369/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: Maine Township Hsd 207
• NCES district ID: 1724090
• Math proficiency: 34% ▼ -13.00%
• Reading proficiency: 39% ▼ -7.00%
• Median HH income: $79,034
• Composite: 34.36/100
• National rank: #5220
• State rank: #143 of 620 in IL

Livability — Niles

• Score: 83/100
• State rank: #53
• US rank: #1001

Category grades

Amenities A Commute A+ Cost of living C 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: Niles, IL
• County: Cook County · 4,486,803 people
• City population: 30,305
• Metro: Chicago-Naperville-Elgin, IL-IN-WI
• Population (ZIP): 30,305
• Household income: $75,800
• Rent vs Own: 25.2% rent · 74.8% own
• Severe rent burden: 747.0

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 0.56)
• Race & ethnicity: White 61% Asian 20% Hispanic / Latino 14% Two or more races 8% Black 2%
• Hispanic origin (detail): Mexican 9% Puerto Rican 1%
• Common ancestry: Romanian 16% American 2% Scandinavian 2%
• Foreign-born: 43% · Canada, South Korea, Vietnam
• Languages at home: 40% English-only · Russian/Polish/Slavic 15% Other Indo-European 13% Spanish 11%

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: ▼ -171.58%
• Current HPI: 197.8728
• Rent YoY: —
• 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

+733.3% since first listed

9 events — show timeline

• 2026-03-31 Listed $175,000 MRED as Distributed by MLS Grid
• 2022-12-09 Sold (Public Records) $135,000 Public Records
• 2022-12-07 Sold (MLS) $134,900 MRED as Distributed by MLS Grid
• 2022-10-17 Pending — MRED as Distributed by MLS Grid
• 2022-09-22 Price Changed $134,900 MRED as Distributed by MLS Grid
• 2022-09-09 Listed $137,000 MRED as Distributed by MLS Grid
• 1992-09-09 Sold (Public Records) $63,000 Public Records
• 1989-06-05 Sold (Public Records) $46,000 Public Records
• 1988-06-03 Sold (Public Records) $21,000 Public Records

Property tax history

+5.9%/yr

Latest (2023): $2,113 · +83.0% YoY. Source: county tax records.