820 Elder Rd Unit C115 · Homewood, IL 60430

$77,900

1 bd · 1.0 ba · 750 sqft · Condo · 61 Days on market

Built 1977 Fair condition $371/mo HOA · 22% of rent

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• Schools +2.4/10.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

NICE SIZED 1 BEDROOM FIRST FLOOR CONDO IN HOMEWOOD SHORES. CLUBHOUSE, POOL, POND, JUST MINUTES TO 1-80 AND I-294 EXPRESSWAYS. CLOSE TO SHOPPING AND RESTAURANTS TOO. NEEDS WORK, PRICED TO SELL. CASH, "AS IS". SHOWINGS START AUGUST 8TH.

Key facts

• $371 HOA
• Parking
• Community pool

Property features AI

Finance

• Other: Building has approximately 120 units; Living area reported as approximately 750 total finished square feet (estimated); Community access includes school bus, commuter bus and commuter train, and nearby interstate access
• HOA & community: Monthly association fee of $371; Association covers water, parking, insurance, clubhouse, pool, exterior maintenance, lawn care, trash removal and snow removal; On-site amenities: coin laundry, elevators, storage, party room, indoor pool, private indoor pool; Manager off-site (Monday through Friday); Pets allowed (cats and dogs) with limits — max pet weight 20 lbs; number and size limits apply

Exterior

• Parking: One parking space assigned (unassigned/shared driveway options available); Asphalt surfaces, driveway and off-street guest parking
• Security: Security door locks; Security lighting
• Utilities: Water from Lake Michigan / public water; Public sewer; 100 amp electric service with circuit breakers; Cable available
• Home design: First-floor entry; Attached single condo (end unit); One-story model listed as 1st floor
• Construction: Brick construction; Tar and gravel roof; Concrete perimeter foundation; Built approximately 41–50 years ago; Unit built before 1978
• Exterior features: Patio; Common grounds; Pond on property

Interior

• Kitchen: Island kitchen; Range; Electric oven; Range hood; Dishwasher; Refrigerator; Disposal
• Bedrooms: Master bedroom on main level (14 x 13) with blinds; Additional bedrooms (listed as Bedroom 2 and Bedroom 3)
• Flooring: Laminate flooring in main living areas; Ceramic tile in kitchen; Wood laminate in living room and bedrooms
• Bathrooms: One full bathroom
• Heating & cooling: Electric forced air heating; Central air conditioning
• Interior features: Elevator; First-floor bedroom; First-floor full bath; Storage; Dining area combined with living room; Separate dining room; Window screens, drapes and blinds
• Laundry & utility: Laundry room; Washer/dryer hookups (coin laundry available in building)

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $78k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $413 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $78k).
• Recommended offer: $73k (6.0% below list) — sets the bar for market timing.
• Cap rate 12.7% vs local median 6.1% in Homewood — 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 81/100 on livability (#81 in IL, #1,314 nationally) — a professional / high-income tenant draw. Strengths: commute A+, employment A+, cost of living A+; Watch: amenities F.
• Homewood Flossmoor Chsd 233 (suburban): math 21% / reading 27% proficiency, ranked #272 of 620 in IL (top 44%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Homewood-Flossmoor High School (math 21% / reading 27%, grade F, #304 of 693 statewide, top 44%, 2,798 students, 0% FRL).
• Market conditions: 102 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 20d on market — plan ~3-4 weeks tenant-placement turnaround); 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 $539 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $22k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 61 days — a 6% lower offer ($73k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 5y ago; this cycle's ask has dropped $7k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $35k; list at $78k implies a 123% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 22% of rent.

Recommended offer $73,226 (6.0% below list)

Questions for the listing agent

1. It's been on market 61 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Built in 1977 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. 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?
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 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?
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: 2.15% ✓
• Cap rate: 12.66%
• Cash-on-cash: 22.75%
• DSCR: 2.01
• GRM: 3.9

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: 15.9%
• Equity multiple: 1.64×
• Total profit: $13,966
• Equity at exit: $11,615

10-year hold

• IRR: 24.7%
• Equity multiple: 3.16×
• Total profit: $47,102
• Equity at exit: $6,735

Cash invested: $21,812 (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 60430

• Home prices YoY: -32.1%
• Active inventory: 102
• Price-to-rent: 3.9×

Monthly cashflow live

• Estimated rent: $1,674 medium
• Mortgage (P&I): −$409
• Tax est. 1.5%: −$97 /mo · $1,168/yr
• Insurance: −$32
• HOA: −$371
• Vacancy / Maint / Mgmt: −$352
• Net cashflow: $413

Break-even live

Break-even rent $1,151

Max offer price $77,900

Occupancy floor 70%

Sensitivity live

Price	-10% $467	-5% $440	+0% $413	+5% $387	+10% $360
Rent	-10% $281	-5% $347	+0% $413	+5% $480	+10% $546
Rate	-1.0pp $453	-0.5pp $433	base $413	+0.5pp $393	+1.0pp $373

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: $19,475
• Closing costs: $2,337
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
44 N Glenwood Ave Glenwood, IL	1.0	1.0	700	$1,900	$2.71	0d	1	1.32mi
1933 Hickory Rd Unit 1937-C Homewood, IL	1.0	1.0	850	$1,550	$1.82	20d	1	1.37mi
1933 Hickory Rd Homewood, IL	1.0	1.0	850	$1,550	$1.82	21d	1	1.37mi

HOA detail condo

• Monthly dues: $371 · $4,452/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 21 events

1. 2026-06-21
   days on market $77,900 Active 61 DOM
2. 2026-06-18
   days on market $77,900 Active 58 DOM
3. 2026-06-18
   price $77,900 Active 57 DOM
4. 2026-06-17
   days on market $78,900 Active 57 DOM
5. 2026-06-16
   days on market $78,900 Active 56 DOM
6. 2026-06-15
   days on market $78,900 Active 55 DOM
7. 2026-06-13
   days on market $78,900 Active 53 DOM
8. 2026-06-09
   days on market $78,900 Active 49 DOM
9. 2026-06-08
   days on market $78,900 Active 48 DOM
10. 2026-06-07
    days on market $78,900 Active 47 DOM
11. 2026-06-04
    pricedays on market $78,900 Active 44 DOM
12. 2026-06-03
    days on market $79,900 Active 43 DOM
13. 2026-06-02
    days on market $79,900 Active 42 DOM
14. 2026-06-01
    days on market $79,900 Active 41 DOM
15. 2026-05-31
    days on market $79,900 Active 40 DOM
16. 2026-05-08
    price $79,900
17. 2026-05-08
    price $799,000
18. 2026-04-22
    listed $85,000 Active
19. 2026-04-09
    historical
20. 2021-09-10
    soldstatus $35,000 247-char remark

    Show marketing remark (247 chars)

    NICE SIZED 1 BEDROOM FIRST FLOOR CONDO IN HOMEWOOD SHORES. CLUBHOUSE, POOL, POND, JUST MINUTES TO 1-80 AND I-294 EXPRESSWAYS. CLOSE TO SHOPPING AND RESTAURANTS TOO. NEEDS WORK, PRICED TO SELL. CASH, "AS IS". SHOWINGS START AUGUST 8TH.

21. 2021-07-30
    listed $35,000 247-char remark

    Show marketing remark (247 chars)

    NICE SIZED 1 BEDROOM FIRST FLOOR CONDO IN HOMEWOOD SHORES. CLUBHOUSE, POOL, POND, JUST MINUTES TO 1-80 AND I-294 EXPRESSWAYS. CLOSE TO SHOPPING AND RESTAURANTS TOO. NEEDS WORK, PRICED TO SELL. CASH, "AS IS". SHOWINGS START AUGUST 8TH.

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

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 ≥101°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,094
• − Mortgage interest: −$4,364
• − Property taxes: −$1,168
• − Insurance: −$390
• − Repairs & maintenance: −$1,608
• − Management: −$1,608
• − HOA: −$4,452
• − Depreciation: −$2,266
• Taxable income: $4,239
• Est. tax owed @ 24.0%: −$1,017
• After-tax cash flow: $3,945/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.

Condition & rehab AI · 12 photos

Fair 45/100 Moderate rehab

This moderate-rehab property requires repairs and maintenance to bring it up to a good condition. Upgrades to the interior and exterior will significantly enhance its value.

Repairs flagged

• Moderate kitchen countertops — worn condition
• Moderate bathroom fixtures — signs of wear
• Moderate exterior siding — weathered appearance
• Moderate hardwood flooring — signs of wear

Value-add opportunities

• Both paint interior walls — fresh paint enhances curb appeal and interior aesthetics
• Both replace kitchen countertops — new countertops improve functionality and aesthetics
• Both repair exterior siding — new siding enhances curb appeal and structural integrity
• Both replace bathroom fixtures — new fixtures improve functionality and aesthetics
• Both replace hardwood flooring — new flooring improves functionality and aesthetics

Renovation cost estimate screening

Repair item	Severity	Est. cost
kitchen countertops · worn condition	Moderate	$3,000–15,000
bathroom fixtures · signs of wear	Moderate	$3,000–15,000
exterior siding · weathered appearance	Moderate	$3,000–15,000
hardwood flooring · signs of wear	Moderate	$3,000–15,000
Total estimated repair cost · 4 items		$12,000–60,000

Value-add ROI direction

• Both paint interior walls — fresh paint enhances curb appeal and interior aesthetics ↑
• Both replace kitchen countertops — new countertops improve functionality and aesthetics ↑
• Both repair exterior siding — new siding enhances curb appeal and structural integrity ↑
• Both replace bathroom fixtures — new fixtures improve functionality and aesthetics ↑
• Both replace hardwood flooring — new flooring improves functionality and aesthetics ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Homewood Flossmoor Chsd 233
• NCES district ID: 1719560
• Math proficiency: 21% ▼ -15.00%
• Reading proficiency: 27% ▼ -13.00%
• Median HH income: $83,564
• Composite: 24.42/100
• National rank: #7681
• State rank: #272 of 620 in IL

Livability — Homewood

• Score: 81/100
• State rank: #81
• US rank: #1314

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Homewood, IL
• City population: 19,993
• Population (ZIP): 19,993

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 0.62)
• Race & ethnicity: Black 44% White 42% Hispanic / Latino 9% Two or more races 6% Asian 1%
• Hispanic origin (detail): Mexican 7%
• Common ancestry: Romanian 5% Iranian 2% Italian 2%
• Foreign-born: 6% · Canada, Dominican Republic
• Languages at home: 91% English-only · Spanish 5% Russian/Polish/Slavic 1% German/W. Germanic 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: ▼ -105.00%
• Current HPI: 222.2923
• 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

+128.3% since first listed

6 events — show timeline

• 2026-05-08 Price Changed $79,900 MRED as Distributed by MLS Grid
• 2026-05-08 Price Changed $799,000 MRED as Distributed by MLS Grid
• 2026-04-22 Listed $85,000 MRED as Distributed by MLS Grid
• 2026-04-09 Listing Removed — MRED as Distributed by MLS Grid
• 2021-09-10 Sold (MLS) $35,000 MRED as Distributed by MLS Grid
• 2021-07-30 Listed $35,000 MRED as Distributed by MLS Grid