2504 Algonquin Rd #14 · Rolling Meadows, IL 60008

$147,500

2 bd · 1.5 ba · 1,000 sqft · Condo · 245 Days on market

Built 1970 $418/mo HOA · 20% of rent

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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 +22.3/30.0
• 1% rule +9.2/10.0
• ARV discount +7.5/15.0
• DSCR +7.1/10.0
• Schools +3.9/10.0
• Livability +3.9/5.0
• Condition / age +2.5/5.0
• Rent growth +2.1/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

**NEW LIVING ROOM FLOOR**NEW DINNING ROOM FLOOR**NEW KITCHEN FLOOR**UPDATED BATH**NEW CARPET**FRESHLY PAINTED**1 1/2 BATH**NEWER REFRIGERATOR**NEW STOVE**READY TO MOVE IN***

Key facts

• $418 HOA
• 2 parking spots
• Built 1970

Property features AI

Finance

• Other: Living area reported as estimated
• Financial info: Special service area: No
• HOA & community: Monthly association fee of $418; Association fee includes heat, water, gas, parking, insurance, exterior maintenance, lawn care, trash (scavenger) and snow removal; Pets allowed (cats and dogs permitted; max pet weight listed as 999)

Exterior

• Parking: Two parking spaces (total)
• Utilities: Water source: Lake Michigan; Public sewer
• Home design: Attached single condo; Entry level: 2
• Construction: Brick construction; Built approximately 51–60 years ago; Built before 1978
• Exterior features: Condo setting; Located in a multi-unit building (18 units)

Interior

• Kitchen: Kitchen on main level (approximately 9 x 9)
• Bedrooms: Two bedrooms (master and second-floor bedroom — second floor); Master bedroom approximately 14 x 13; Second bedroom approximately 13 x 10
• Bathrooms: One full bathroom; One half bathroom
• Heating & cooling: Natural gas heating; Wall cooling units
• Interior features: Five total rooms
• Laundry & utility: Laundry room

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath condo listed at $148k.

Deal economics

• At list price, monthly cash flow is $243 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $148k).
• Recommended offer: $130k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.3% vs local median 3.6% in Rolling Meadows — 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 (#162 in IL, #2,994 nationally) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, crime A; Watch: health & safety C-, amenities F.
• Township Hsd 214 (suburban): math 42% / reading 45% proficiency, ranked #103 of 620 in IL (top 17%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Rolling Meadows High School (math 35% / reading 39%, grade F, #107 of 693 statewide, top 17%, 2,044 students, 0% FRL).
• Market conditions: Rents soft (-1.4%/yr); 39 active listings in the ZIP; 14 comparable units currently listed for rent nearby; rentals leasing fast (median 10d 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 $4k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 245 days — a 12% lower offer ($130k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 11y ago; this cycle's ask has dropped $12k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $63k; list at $148k implies a 134% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 20% of rent.
• Climate carrying-cost: moderate flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $129,800 (12.0% below list)

Questions for the listing agent

1. It's been on market 245 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1970 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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.
8. 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.
9. 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: 1.42% ✓
• Cap rate: 8.27%
• Cash-on-cash: 7.06%
• DSCR: 1.31
• GRM: 5.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -9.8%
• Equity multiple: 0.65×
• Total profit: $-14,266
• Equity at exit: $21,993

10-year hold

• IRR: -6.9%
• Equity multiple: 0.64×
• Total profit: $-15,033
• Equity at exit: $12,753

Cash invested: $41,300 (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 60008

• Rents YoY: -1.4%
• Active inventory: 39
• Price-to-rent: 5.9×

Monthly cashflow live

• Estimated rent: $2,087 high
• Mortgage (P&I): −$774
• Tax from tax record: −$153 /mo · $1,835/yr
• Insurance: −$61
• HOA: −$418
• Vacancy / Maint / Mgmt: −$438
• Net cashflow: $243

Break-even live

Break-even rent $1,780

Max offer price $147,500

Occupancy floor 83%

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: $36,875
• Closing costs: $4,425
• Reserves months: —
• Total cash needed: —

Rent comps 14 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4730 Calvert Dr Unit C2 Rolling Meadows, IL	2.0	1.0	1200	$2,195	$1.83	24d	1	0.16mi
5300 Carriageway Dr #107 Rolling Meadows, IL	2.0	1.0	1100	$2,175	$1.98	24d	1	0.17mi
2402 Birch Ln Rolling Meadows, IL	3.0	1.0	1160	$1,649	$1.42	5d	1	0.18mi
2850 Southampton Dr Rolling Meadows, IL	1.0–3.0	1.0–2.0	1212	$2,213	$1.83	1d	34	0.18mi
2205 Fulle St Rolling Meadows, IL	3.0	2.0	1340	$2,400	$1.79	24d	1	0.55mi
4700 Arbor Dr Rolling Meadows, IL	1.0–3.0	1.0–2.0	1050	$1,938	$1.85	1d	20	1.00mi
829 S Dwyer Ave Unit D Arlington Heights, IL	2.0	1.0	1000	$1,800	$1.80	7d	1	1.05mi
3609 Bobwhite Ln Rolling Meadows, IL	3.0	1.0	1017	$2,850	$2.80	10d	1	1.13mi
1243 S Mitchell Ave Arlington Heights, IL	3.0	2.0	1486	$3,300	$2.22	10d	1	1.29mi
1243 S Mitchell Ave Unit HSE Arlington Heights, IL	3.0	2.0	1486	$3,300	$2.22	1d	1	1.30mi
1708 Arbor Sq Schaumburg, IL	2.0	1.0	738	$2,143	$2.90	1d	49	1.30mi
3265 Kirchoff Rd #215 Rolling Meadows, IL	2.0	2.0	1000	$2,000	$2.00	18d	1	1.33mi
1919 Prairie Sq Schaumburg, IL	2.0	2.0	960	$2,075	$2.16	2d	2	1.37mi
1926 Prairie Sq Schaumburg, IL	1.0	1.0	775	$1,560	$2.01	18d	1	1.47mi

HOA detail condo

• Monthly dues: $418 · $5,016/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 35 events

1. 2026-06-18
   days on market $147,500 Active 245 DOM
2. 2026-06-17
   days on market $147,500 Active 244 DOM
3. 2026-06-16
   days on market $147,500 Active 243 DOM
4. 2026-06-15
   days on market $147,500 Active 242 DOM
5. 2026-06-13
   days on market $147,500 Active 240 DOM
6. 2026-06-09
   days on market $147,500 Active 236 DOM
7. 2026-06-08
   days on market $147,500 Active 235 DOM
8. 2026-06-07
   days on market $147,500 Active 234 DOM
9. 2026-06-04
   days on market $147,500 Active 231 DOM
10. 2026-06-03
    days on market $147,500 Active 230 DOM
11. 2026-06-02
    days on market $147,500 Active 229 DOM
12. 2026-06-01
    days on market $147,500 Active 228 DOM
13. 2026-05-31
    days on market $147,500 Active 227 DOM
14. 2026-05-19
    status Active
15. 2026-05-11
    historical Contingent - No Showings
16. 2026-05-06
    status Active
17. 2026-05-05
    historical
18. 2026-05-05
    status Active
19. 2026-04-28
    historical Contingent - No Showings
20. 2026-04-28
    historical
21. 2026-04-20
    status Active
22. 2026-04-02
    historical Contingent - No Showings
23. 2026-04-02
    status Active
24. 2026-03-21
    historical Contingent - No Showings
25. 2026-03-19
    historical
26. 2026-03-07
    price $147,500
27. 2025-12-23
    status Active
28. 2025-12-17
    historical Contingent - Continue to Show
29. 2025-11-21
    price $154,900
30. 2025-09-26
    listed $159,900 Active
31. 2015-10-26
    soldstatus $63,000
32. 2015-10-23
    soldstatus $63,000 Closed Sale 173-char remark

    Show marketing remark (173 chars)

    **NEW LIVING ROOM FLOOR**NEW DINNING ROOM FLOOR**NEW KITCHEN FLOOR**UPDATED BATH**NEW CARPET**FRESHLY PAINTED**1 1/2 BATH**NEWER REFRIGERATOR**NEW STOVE**READY TO MOVE IN***

33. 2015-09-04
    listed Contingent 173-char remark

    Show marketing remark (173 chars)

    **NEW LIVING ROOM FLOOR**NEW DINNING ROOM FLOOR**NEW KITCHEN FLOOR**UPDATED BATH**NEW CARPET**FRESHLY PAINTED**1 1/2 BATH**NEWER REFRIGERATOR**NEW STOVE**READY TO MOVE IN***

34. 1989-11-09
    soldstatus $46,000
35. 1986-10-01
    soldstatus $36,000

ⓘ 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: $1,835 · $153/mo
• Projected year-2 tax: $2,592 · $216/mo
• Expected delta: +$756/yr (+$63/mo · 41.2%)

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

Climate risk First Street

• 🌊 Flood 5/10 Major FEMA zone X (unshaded) · 59% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥100°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 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $25,048
• − Mortgage interest: −$8,262
• − Property taxes: −$1,835
• − Insurance: −$738
• − Repairs & maintenance: −$2,004
• − Management: −$2,004
• − HOA: −$5,016
• − Depreciation: −$4,291
• Taxable income: $899
• Est. tax owed @ 24.0%: −$216
• After-tax cash flow: $2,702/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: Township Hsd 214
• NCES district ID: 1704170
• Math proficiency: 42% ▼ -10.00%
• Reading proficiency: 45% ▼ -4.00%
• Median HH income: $68,267
• Composite: 39.13/100
• National rank: #4035
• State rank: #103 of 620 in IL

Livability — Rolling Meadows

• Score: 77/100
• State rank: #162
• US rank: #2994

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Rolling Meadows, IL
• County: Cook County · 4,486,803 people
• City population: 22,800
• Metro: Chicago-Naperville-Elgin, IL-IN-WI
• Population (ZIP): 22,800
• Household income: $94,336
• Rent vs Own: 29.2% rent · 70.8% own
• Severe rent burden: 736.0

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 0.60)
• Race & ethnicity: White 54% Hispanic / Latino 31% Two or more races 13% Asian 9% Black 4%
• Hispanic origin (detail): Mexican 24% Puerto Rican 1%
• Common ancestry: Romanian 10% Italian 2% Portuguese 2%
• Foreign-born: 27% · Canada, South Korea, China
• Languages at home: 56% English-only · Spanish 25% Russian/Polish/Slavic 7% Other Indo-European 4%

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: ▼ -218.62%
• Current HPI: 214.0901
• Rent YoY: ▼ -1.43%
• 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

+309.7% since first listed

22 events — show timeline

• 2026-05-19 Relisted — MRED as Distributed by MLS Grid
• 2026-05-11 Contingent — MRED as Distributed by MLS Grid
• 2026-05-06 Relisted — MRED as Distributed by MLS Grid
• 2026-05-05 Listing Removed — MRED as Distributed by MLS Grid
• 2026-05-05 Relisted — MRED as Distributed by MLS Grid
• 2026-04-28 Contingent — MRED as Distributed by MLS Grid
• 2026-04-28 Listing Removed — MRED as Distributed by MLS Grid
• 2026-04-20 Relisted — MRED as Distributed by MLS Grid
• 2026-04-02 Contingent — MRED as Distributed by MLS Grid
• 2026-04-02 Relisted — MRED as Distributed by MLS Grid
• 2026-03-21 Contingent — MRED as Distributed by MLS Grid
• 2026-03-19 Listing Removed — MRED as Distributed by MLS Grid
• 2026-03-07 Price Changed $147,500 MRED as Distributed by MLS Grid
• 2025-12-23 Relisted — MRED as Distributed by MLS Grid
• 2025-12-17 Contingent — MRED as Distributed by MLS Grid
• 2025-11-21 Price Changed $154,900 MRED as Distributed by MLS Grid
• 2025-09-26 Listed $159,900 MRED as Distributed by MLS Grid
• 2015-10-26 Sold (Public Records) $63,000 Public Records
• 2015-10-23 Sold (MLS) $63,000 MRED as Distributed by MLS Grid
• 2015-09-04 Listed — MRED as Distributed by MLS Grid
• 1989-11-09 Sold (Public Records) $46,000 Public Records
• 1986-10-01 Sold (Public Records) $36,000 Public Records

Property tax history

+12.8%/yr

Latest (2023): $1,835 · -12.5% YoY. Source: county tax records.