254 Mulberry Ln · Elk Grove Village, IL 60007

$260,000

3 bd · 1.5 ba · 1,355 sqft · SingleFamily public records · 21 Days on market

Built 1961 Est $385k · 32% under

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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).

• ARV discount +15.0/15.0
• Cash flow +13.0/30.0
• 1% rule +5.1/10.0
• DSCR +3.9/10.0
• Schools +3.9/10.0
• Livability +3.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

* * MULTIPLE OFFERS RECEIVED- HIGHEST & BEST CALLED FOR BY SUNDAY, 24TH @ 7:00PM. * * * ATTENTION HANDYMEN & CONTRACTORS * * * SOUGHT AFTER NEIGHBORHOOD & SCHOOLS! BRING YOU IDEAS AND EARN SWEAT EQUITY! SPACIOUS LIVING ROOM & KITCHEN OFFER GREAT LIVING SPACE. 2 CAR DRIVEWAY! POPULAR FLOOR PLN! THIS HOME IS IN "ORIGINAL OWNER" CONDITION & PRICED ACCORDINGLY- SOLD AS IS. EXCELLENT LOCATION CLOSE TO SCHOOLS, PARKS, SHOPPING, RESTAURANTS, EXPWYS, EVERYTHING!

Key facts

• Garage
• Built 1961
• Listed 21 days

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $260k.

Deal economics

• At list price, monthly cash flow is $-16 ($-195/yr) — negative.
• To cash-flow at today's rent, offer at most $257k (1.1% below list).
• Meets the 1% rule at list price ($3k rent vs $260k).
• Recommended offer: $256k (1.5% below list) — sets the bar for market timing.
• Cap rate 6.2% vs local median 3.5% in Elk Grove Village — 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 (#160 in IL, #2,985 nationally) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, crime A-; Watch: amenities F, health & safety 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: Clearmont Elem School (math 22% / reading 27%, grade F, #850 of 2,056 statewide, top 45%, 424 students, 0% FRL); Grove Jr High School (math 10% / reading 19%, grade F, #517 of 665 statewide, top 79%, 791 students, 0% FRL); Elk Grove High School (math 30% / reading 34%, grade F, #157 of 693 statewide, top 25%, 2,000 students, 0% FRL).
• Zoned-school proficiency averages 24% at this address vs 44% district-wide (-20 pts) — the specific schools serving this property underperform the Township Hsd 214 average; the district grade overstates school quality for this exact location.
• Market conditions: Rents flat; 49 active listings in the ZIP; 12 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).
• This rent runs 34% of the median local income ($93k/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 $2k of loan paydown is wiped out by about $8k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 21 days — a 2% lower offer ($256k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: property tax is 2.8% of price.

Recommended offer $256,100 (1.5% 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. Built in 1961 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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: 1.01% ✓
• Cap rate: 6.22%
• Cash-on-cash: -0.27%
• DSCR: 0.99
• GRM: 8.3

CMA / ARV

• ARV (on-the-fly): $384,820
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
254 Mulberry Ln	0.00mi	3/1.5	1,355 (0%)	0mo	$315,000	$232	100
251 Clearmont Dr	0.19mi	3/2.0	1,355 (0%)	1mo	$365,000	$269	88
241 Pleasant Dr	0.36mi	3/1.5	1,278 (-6%)	4mo	$370,000	$290	70
1060 Warwick Ln	0.53mi	3/1.5	1,310 (-3%)	3mo	$318,000	$243	67
621 Clearmont Dr	0.52mi	3/2.0	1,400 (+3%)	4mo	$400,600	$286	65
124 Braemar Dr	0.30mi	3/1.5	1,522 (+12%)	4mo	$425,000	$279	62
951 Lonsdale Rd	0.60mi	3/3.0	1,311 (-3%)	2mo	$441,000	$336	59
550 Pinewood Dr	0.46mi	3/2.0	1,487 (+10%)	3mo	$405,000	$272	58
210 Brookhaven Dr	0.47mi	4/2.0 (+1)	1,450 (+7%)	2mo	$428,900	$296	58
568 Cedar Ln	0.72mi	3/1.5	1,310 (-3%)	5mo	$325,000	$248	56
54 Brantwood Ave	0.61mi	3/2.0	1,253 (-8%)	2mo	$394,000	$314	55
940 Victoria Ln	0.57mi	4/2.0 (+1)	1,550 (+14%)	5mo	$440,000	$284	38

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 · 0.08% rent growth · sell at horizon

5-year hold

• IRR: -20.5%
• Equity multiple: 0.31×
• Total profit: $-50,428
• Equity at exit: $38,767

10-year hold

• IRR: -23.9%
• Equity multiple: -0.01×
• Total profit: $-73,307
• Equity at exit: $22,480

Cash invested: $72,800 (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 60007

• Rents YoY: 0.1%
• Active inventory: 49
• Price-to-rent: 8.3×

Monthly cashflow live

• Estimated rent: $2,619 high
• Mortgage (P&I): −$1,363
• Tax from tax record: −$614 /mo · $7,364/yr
• Insurance: −$108
• HOA: −$0
• Vacancy / Maint / Mgmt: −$550
• Net cashflow: $-16

Break-even live

Break-even rent $2,640

Max offer price $257,125

Occupancy floor 96%

Sensitivity live

Price	-10% $131	-5% $57	+0% $-16	+5% $-90	+10% $-163
Rent	-10% $-223	-5% $-120	+0% $-16	+5% $87	+10% $191
Rate	-1.0pp $115	-0.5pp $50	base $-16	+0.5pp $-84	+1.0pp $-152

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: $65,000
• Closing costs: $7,800
• Reserves months: —
• Total cash needed: —

Rent comps 12 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
975 Jefferson Sq Elk Grove Village, IL	1.0–2.0	1.0–2.0	847	$2,077	$2.45	1d	12	0.49mi
908 Ridge Sq Elk Grove Village, IL	1.0–2.0	1.0–2.0	850	$2,119	$2.49	0d	29	0.56mi
1123 Cedar Ln Elk Grove Village, IL	3.0	1.0	1050	$2,750	$2.62	21d	1	0.58mi
230 Washington Sq Unit D Elk Grove Village, IL	2.0	1.0	1000	$1,650	$1.65	3d	1	0.69mi
46 Avon Rd Elk Grove Village, IL	3.0	2.0	1485	$2,900	$1.95	0d	1	0.86mi
1133 N Arlington Heights Rd Itasca, IL	3.0	1.0–2.0	976	$3,800	$3.89	0d	29	0.86mi
1133 N Arlington Heights Rd Itasca, IL	1.0–3.0	1.0–2.0	1067	$3,800	$3.56	26d	18	0.86mi
384 Bianco Dr Elk Grove Village, IL	3.0	2.0	1435	$3,200	$2.23	16d	1	0.87mi
118 Boardwalk St Unit 2E Elk Grove Village, IL	2.0	1.5	1000	$1,850	$1.85	3d	1	1.11mi
312 E Tall Oaks Ln Itasca, IL	2.0	2.5	1410	$2,999	$2.13	0d	1	1.36mi
593 Bristol Ln Elk Grove Village, IL	3.0	2.0	1800	$3,400	$1.89	12d	1	1.38mi
309 E Theodore Ln Itasca, IL	2.0	3.5	1850	$3,000	$1.62	25d	1	1.40mi

Listing history 11 events

1. 2026-06-13
   statusdays on market $260,000 Pending 21 DOM
2. 2026-06-10
   days on market $260,000 Contingent - No Showings 19 DOM
3. 2026-06-09
   days on market $260,000 Contingent - No Showings 18 DOM
4. 2026-06-08
   days on market $260,000 Contingent - No Showings 17 DOM
5. 2026-06-07
   days on market $260,000 Contingent - No Showings 16 DOM
6. 2026-06-04
   days on market $260,000 Contingent - No Showings 13 DOM
7. 2026-06-03
   days on market $260,000 Contingent - No Showings 12 DOM
8. 2026-06-02
   days on market $260,000 Contingent - No Showings 11 DOM
9. 2026-06-01
   days on market $260,000 Contingent - No Showings 10 DOM
10. 2026-05-31
    days on market $260,000 Contingent - No Showings 9 DOM
11. 2026-05-22
    listed $260,000 Active

ⓘ 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: $7,364 · $614/mo
• Projected year-2 tax: $7,364 · $614/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 1/10 Low FEMA zone X (unshaded) · 0% 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 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $31,431
• − Mortgage interest: −$14,564
• − Property taxes: −$7,364
• − Insurance: −$1,300
• − Repairs & maintenance: −$2,514
• − Management: −$2,514
• − Depreciation: −$7,564
• Taxable loss: −$4,390
• Est. tax savings @ 24.0%: +$1,054
• After-tax cash flow: $858/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 — Elk Grove Village

• Score: 77/100
• State rank: #160
• US rank: #2985

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Elk Grove Village, IL
• County: Cook County · 4,486,803 people
• City population: 32,592
• Metro: Chicago-Naperville-Elgin, IL-IN-WI
• Population (ZIP): 32,592
• Household income: $93,494
• Rent vs Own: 25.5% rent · 74.5% own
• Severe rent burden: 851.0

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: Predominantly White (69%)
• Race & ethnicity: White 69% Hispanic / Latino 14% Asian 12% Two or more races 9% Black 3%
• Hispanic origin (detail): Mexican 11% Puerto Rican 1%
• Common ancestry: Romanian 17% Italian 1% French 1%
• Foreign-born: 21% · Canada, South Korea, China
• Languages at home: 67% English-only · Spanish 10% Russian/Polish/Slavic 9% Other Indo-European 5%

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: ▼ -285.01%
• Current HPI: 221.9664
• Rent YoY: ▲ 0.08%
• 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

1 event — show timeline

• 2026-05-22 Listed $260,000 MRED as Distributed by MLS Grid

Property tax history

+5.7%/yr

Latest (2023): $7,364 · +3.9% YoY. Source: county tax records.