7234 W North Ave #1608 · Elmwood Park, IL 60707

$119,000

1 bd · 1.0 ba · 778 sqft · Condo public records · 28 Days on market

Built 1968 $153/sqft · 16% below area Est $142k · 16% under $370/mo HOA · 22% 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).

• ARV discount +14.7/15.0
• Cash flow +14.3/30.0
• 1% rule +8.9/10.0
• DSCR +4.3/10.0
• Rent growth +4.3/5.0
• Livability +4.2/5.0
• Condition / age +2.5/5.0
• Schools +1.9/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Bright, updated 1BR/1BA high-floor condo with amazing views! Open layout, modern kitchen with stainless steel appliances + breakfast bar, built-in desk for WFH, and large windows with tons of natural light. Fresh paint, new lighting, and new window treatments. Same-floor laundry and extra storage. Full-amenity building: pool, sundeck, penthouse party room, secure entry, onsite management. Steps to dining, groceries, and transit. Garage parking included. Assessments cover almost everything, except electric. Motivated seller, bring an offer! HOA imposes a rental Cap.

Key facts

• Large windows
• Same-floor laundry
• Natural light

Tags

• MODERN KITCHEN
• STAINLESS STEEL APPLIANCES
• BREAKFAST BAR
• LARGE WINDOWS
• NATURAL LIGHT
• SAME-FLOOR LAUNDRY

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $119k.

Deal economics

• At list price, monthly cash flow is $21 ($250/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $119k).
• Recommended offer: $117k (1.5% below list) — sets the bar for market timing.
• Cap rate 6.5% vs local median 4.4% in Elmwood Park — 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 (#41 in IL, #865 nationally) — a professional / high-income tenant draw. Strengths: commute A+, housing A+, crime A-; Watch: schools D+.
• Elmwood Park CUSD 401 (suburban): math 15% / reading 26% proficiency, ranked #403 of 620 in IL (top 65%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: Rents rising fast (+7.2%/yr); 58 active listings in the ZIP; 15 comparable units currently listed for rent nearby; rentals leasing fast (median 7d 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 $823 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 7.2% rent growth), your $33k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 28 days — a 2% lower offer ($117k) is reasonable based on typical stale-listing flexibility.
• 12 sale attempts since 17y 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.

Risks & watch-outs

• Watch-outs: HOA is 22% of rent.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $117,215 (1.5% below list)

Questions for the listing agent

1. Built in 1968 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. 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?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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 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: 1.39% ✓
• Cap rate: 6.50%
• Cash-on-cash: 0.75%
• DSCR: 1.03
• GRM: 6.0

CMA / ARV

• ARV (median comp): $141,585
• List price: $119,000
• Delta: -15.95%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 7.21% rent growth · sell at horizon

5-year hold

• IRR: -7.9%
• Equity multiple: 0.69×
• Total profit: $-10,334
• Equity at exit: $17,743

10-year hold

• IRR: 8.2%
• Equity multiple: 1.80×
• Total profit: $26,692
• Equity at exit: $10,289

Cash invested: $33,320 (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 60707

• Rents YoY: 7.2%
• Active inventory: 58
• Price-to-rent: 6.0×

Monthly cashflow live

• Estimated rent: $1,655 high
• Mortgage (P&I): −$624
• Tax from tax record: −$243 /mo · $2,920/yr
• Insurance: −$50
• HOA: −$370
• Vacancy / Maint / Mgmt: −$348
• Net cashflow: $21

Break-even live

Break-even rent $1,629

Max offer price $119,000

Occupancy floor 94%

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: $29,750
• Closing costs: $3,570
• Reserves months: —
• Total cash needed: —

Rent comps 15 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
7234 W North Ave #508 Elmwood Park, IL	1.0	1.0	750	$1,600	$2.13	7d	1	0.02mi
1619 N Neva Ave Chicago, IL	1.0–3.0	1.0–2.5	1654	$2,075	$1.25	2d	41	0.24mi
2242 73rd Ave Unit GE Elmwood Park, IL	2.0	1.0	1000	$1,600	$1.60	24d	1	0.86mi
2300 N Harlem Ave Elmwood Park, IL	1.0–2.0	1.0–2.0	850	$1,375	$1.62	2d	11	0.90mi
2310 N Harlem Ave Apt 304 Elmwood Park, IL	2.0	1.0	950	$1,750	$1.84	43d	1	0.91mi
2336 N 72nd Ct Elmwood Park, IL	2.0	1.0	990	$1,640	$1.66	24d	1	0.97mi
2412 N 76th Ave Unit 3W Elmwood Park, IL	2.0	1.0	700	$1,600	$2.29	44d	1	1.11mi
2402 N 76th Ct Unit G Elmwood Park, IL	2.0	1.0	850	$1,700	$2.00	7d	1	1.12mi
2112 N Nashville Ave Chicago, IL	2.0–4.0	2.0–3.0	1482	$2,639	$1.78	3d	15	1.18mi
7709 W Marwood Ave Unit 3S Elmwood Park, IL	2.0	1.0	750	$1,995	$2.66	24d	1	1.28mi
2446 N 78th Ct Unit 2R Elmwood Park, IL	2.0	1.0	730	$1,695	$2.32	18d	1	1.33mi
1000 Lake St Oak Park, IL	2.0	1.0–2.0	929	$3,274	$3.52	1d	32	1.44mi
2714 N 74th Ct Unit 1W Elmwood Park, IL	2.0	1.0	850	$1,695	$1.99	18d	1	1.44mi
7901 W Grand Ave Unit 1S Elmwood Park, IL	1.0	1.0	700	$1,250	$1.79	3d	1	1.45mi
100 Forest Pl Oak Park, IL	1.0–2.0	1.0–2.5	945	$1,797	$1.90	4d	15	1.50mi

HOA detail condo

• Monthly dues: $370 · $4,440/yr
• Likely covers: electricpoolparking
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 50 events

1. 2026-06-18
   days on market $119,000 Active 28 DOM
2. 2026-06-17
   days on market $119,000 Active 27 DOM
3. 2026-06-16
   days on market $119,000 Active 26 DOM
4. 2026-06-15
   days on market $119,000 Active 25 DOM
5. 2026-06-13
   days on market $119,000 Active 23 DOM
6. 2026-06-13
   days on market $119,000 Active 22 DOM
7. 2026-06-09
   days on market $119,000 Active 19 DOM
8. 2026-06-08
   days on market $119,000 Active 18 DOM
9. 2026-06-07
   days on market $119,000 Active 17 DOM
10. 2026-06-04
    days on market $119,000 Active 14 DOM
11. 2026-06-03
    days on market $119,000 Active 13 DOM
12. 2026-06-02
    days on market $119,000 Active 12 DOM
13. 2026-06-01
    days on market $119,000 Active 11 DOM
14. 2026-05-31
    days on market $119,000 Active 10 DOM
15. 2026-02-25
    status Active 571-char remark

    Show marketing remark (571 chars)

    Bright, updated 1BR/1BA high-floor condo with amazing views! Open layout, modern kitchen with stainless steel appliances + breakfast bar, built-in desk for WFH, and large windows with tons of natural light. Fresh paint, new lighting, and new window treatments. Same-floor laundry and extra storage. Full-amenity building: pool, sundeck, penthouse party room, secure entry, onsite management. Steps to dining, groceries, and transit. Garage parking included. Assessments cover almost everything, except electric. Motivated seller, bring an offer! HOA imposes a rental Cap.

16. 2026-02-18
    historical Contingent - No Showings 571-char remark

    Show marketing remark (571 chars)

    Bright, updated 1BR/1BA high-floor condo with amazing views! Open layout, modern kitchen with stainless steel appliances + breakfast bar, built-in desk for WFH, and large windows with tons of natural light. Fresh paint, new lighting, and new window treatments. Same-floor laundry and extra storage. Full-amenity building: pool, sundeck, penthouse party room, secure entry, onsite management. Steps to dining, groceries, and transit. Garage parking included. Assessments cover almost everything, except electric. Motivated seller, bring an offer! HOA imposes a rental Cap.

17. 2026-01-28
    status Active 571-char remark

    Show marketing remark (571 chars)

    Bright, updated 1BR/1BA high-floor condo with amazing views! Open layout, modern kitchen with stainless steel appliances + breakfast bar, built-in desk for WFH, and large windows with tons of natural light. Fresh paint, new lighting, and new window treatments. Same-floor laundry and extra storage. Full-amenity building: pool, sundeck, penthouse party room, secure entry, onsite management. Steps to dining, groceries, and transit. Garage parking included. Assessments cover almost everything, except electric. Motivated seller, bring an offer! HOA imposes a rental Cap.

18. 2026-01-28
    historical 571-char remark

    Show marketing remark (571 chars)

    Bright, updated 1BR/1BA high-floor condo with amazing views! Open layout, modern kitchen with stainless steel appliances + breakfast bar, built-in desk for WFH, and large windows with tons of natural light. Fresh paint, new lighting, and new window treatments. Same-floor laundry and extra storage. Full-amenity building: pool, sundeck, penthouse party room, secure entry, onsite management. Steps to dining, groceries, and transit. Garage parking included. Assessments cover almost everything, except electric. Motivated seller, bring an offer! HOA imposes a rental Cap.

19. 2026-01-28
    status Active 571-char remark

    Show marketing remark (571 chars)

    Bright, updated 1BR/1BA high-floor condo with amazing views! Open layout, modern kitchen with stainless steel appliances + breakfast bar, built-in desk for WFH, and large windows with tons of natural light. Fresh paint, new lighting, and new window treatments. Same-floor laundry and extra storage. Full-amenity building: pool, sundeck, penthouse party room, secure entry, onsite management. Steps to dining, groceries, and transit. Garage parking included. Assessments cover almost everything, except electric. Motivated seller, bring an offer! HOA imposes a rental Cap.

20. 2026-01-22
    status Pending 571-char remark

    Show marketing remark (571 chars)

    Bright, updated 1BR/1BA high-floor condo with amazing views! Open layout, modern kitchen with stainless steel appliances + breakfast bar, built-in desk for WFH, and large windows with tons of natural light. Fresh paint, new lighting, and new window treatments. Same-floor laundry and extra storage. Full-amenity building: pool, sundeck, penthouse party room, secure entry, onsite management. Steps to dining, groceries, and transit. Garage parking included. Assessments cover almost everything, except electric. Motivated seller, bring an offer! HOA imposes a rental Cap.

21. 2025-12-24
    historical Contingent - No Showings 571-char remark

    Show marketing remark (571 chars)

    Bright, updated 1BR/1BA high-floor condo with amazing views! Open layout, modern kitchen with stainless steel appliances + breakfast bar, built-in desk for WFH, and large windows with tons of natural light. Fresh paint, new lighting, and new window treatments. Same-floor laundry and extra storage. Full-amenity building: pool, sundeck, penthouse party room, secure entry, onsite management. Steps to dining, groceries, and transit. Garage parking included. Assessments cover almost everything, except electric. Motivated seller, bring an offer! HOA imposes a rental Cap.

22. 2025-11-29
    listed $119,000 Active 571-char remark

    Show marketing remark (571 chars)

    Bright, updated 1BR/1BA high-floor condo with amazing views! Open layout, modern kitchen with stainless steel appliances + breakfast bar, built-in desk for WFH, and large windows with tons of natural light. Fresh paint, new lighting, and new window treatments. Same-floor laundry and extra storage. Full-amenity building: pool, sundeck, penthouse party room, secure entry, onsite management. Steps to dining, groceries, and transit. Garage parking included. Assessments cover almost everything, except electric. Motivated seller, bring an offer! HOA imposes a rental Cap.

23. 2025-10-24
    historical
24. 2025-10-20
    status Active
25. 2025-09-20
    historical Contingent - No Showings
26. 2025-09-01
    price
27. 2025-08-20
    status Active
28. 2025-08-12
    historical Contingent - No Showings
29. 2025-07-14
    listed Active
30. 2025-07-14
    historical
31. 2025-07-02
    price
32. 2025-06-06
    listed Active
33. 2024-11-27
    soldstatus $117,500
34. 2024-11-06
    historical $1,700
35. 2024-11-04
    soldstatus $117,500 Closed
36. 2024-10-17
    historical Contingent - Continue to Show
37. 2024-10-09
    listed $1,700
38. 2024-10-06
    price $124,900
39. 2024-08-23
    listed $129,900 Active
40. 2020-09-30
    soldstatus $96,500
41. 2020-06-29
    soldstatus $96,500 Closed Sale
42. 2020-06-13
    status Pending
43. 2020-06-02
    status Contingent
44. 2020-05-26
    listed $99,900 New
45. 2010-07-16
    historical
46. 2009-04-21
    listed
47. 2007-06-07
    soldstatus $124,000
48. 2004-04-20
    soldstatus $117,500
49. 1994-04-26
    soldstatus $75,000
50. 1985-06-05
    soldstatus $36,500

ⓘ 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: $2,920 · $243/mo
• Projected year-2 tax: $2,920 · $243/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 6/10 Major FEMA zone X (unshaded) · 72% 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 5/10 Major 6 unhealthy d/yr today · 8 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,866
• − Mortgage interest: −$6,666
• − Property taxes: −$2,920
• − Insurance: −$595
• − Repairs & maintenance: −$1,589
• − Management: −$1,589
• − HOA: −$4,440
• − Depreciation: −$3,462
• Taxable loss: −$1,395
• Est. tax savings @ 24.0%: +$335
• After-tax cash flow: $585/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: Elmwood Park CUSD 401
• NCES district ID: 1714100
• Math proficiency: 15% ▼ -14.00%
• Reading proficiency: 26% ▼ -14.00%
• Median HH income: $54,600
• Composite: 18.73/100
• National rank: #8879
• State rank: #403 of 620 in IL

Livability — Elmwood Park

• Score: 83/100
• State rank: #41
• US rank: #865

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Elmwood Park, IL
• County: Cook County · 4,486,803 people
• City population: 41,116
• Metro: Chicago-Naperville-Elgin, IL-IN-WI
• Population (ZIP): 41,116
• Household income: $84,799
• Rent vs Own: 34.0% rent · 66.0% own
• Severe rent burden: 1195.0

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 0.61)
• Race & ethnicity: White 45% Hispanic / Latino 43% Two or more races 14% Black 7% Asian 3%
• Hispanic origin (detail): Mexican 22% Puerto Rican 12% Cuban 1%
• Common ancestry: Romanian 13% Subsaharan African 2% Scotch-Irish 1%
• Foreign-born: 25% · Canada, Jamaica, Dominican Republic
• Languages at home: 54% English-only · Spanish 29% Russian/Polish/Slavic 11% Other Indo-European 3%

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: ▼ -256.46%
• Current HPI: 222.8083
• Rent YoY: ▲ 7.21%
• 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

+226.0% since first listed

37 events — show timeline

• 2026-02-25 Relisted — MRED as Distributed by MLS Grid
• 2026-02-18 Contingent — MRED as Distributed by MLS Grid
• 2026-01-28 Relisted — MRED as Distributed by MLS Grid
• 2026-01-28 Listing Removed — MRED as Distributed by MLS Grid
• 2026-01-28 Relisted — MRED as Distributed by MLS Grid
• 2026-01-22 Pending — MRED as Distributed by MLS Grid
• 2025-12-24 Contingent — MRED as Distributed by MLS Grid
• 2025-11-29 Listed $119,000 MRED as Distributed by MLS Grid
• 2025-10-24 Listing Removed — MRED as Distributed by MLS Grid
• 2025-10-20 Relisted — MRED as Distributed by MLS Grid
• 2025-09-20 Contingent — MRED as Distributed by MLS Grid
• 2025-09-01 Price Changed — MRED as Distributed by MLS Grid
• 2025-08-20 Relisted — MRED as Distributed by MLS Grid
• 2025-08-12 Contingent — MRED as Distributed by MLS Grid
• 2025-07-14 Listing Removed — MRED as Distributed by MLS Grid
• 2025-07-14 Listed — MRED as Distributed by MLS Grid
• 2025-07-02 Price Changed — MRED as Distributed by MLS Grid
• 2025-06-06 Listed — MRED as Distributed by MLS Grid
• 2024-11-27 Sold (Public Records) $117,500 Public Records
• 2024-11-06 Rental Removed $1,700 MRED
• 2024-11-04 Sold (MLS) $117,500 MRED as Distributed by MLS Grid
• 2024-10-17 Contingent — MRED as Distributed by MLS Grid
• 2024-10-09 Listed for Rent $1,700 MRED
• 2024-10-06 Price Changed $124,900 MRED as Distributed by MLS Grid
• 2024-08-23 Listed $129,900 MRED as Distributed by MLS Grid
• 2020-09-30 Sold (Public Records) $96,500 Public Records
• 2020-06-29 Sold (MLS) $96,500 MRED as Distributed by MLS Grid
• 2020-06-13 Pending — MRED as Distributed by MLS Grid
• 2020-06-02 Pending — MRED as Distributed by MLS Grid
• 2020-05-26 Listed $99,900 MRED as Distributed by MLS Grid
• 2010-07-16 Listing Removed — MRED as Distributed by MLS Grid
• 2009-04-21 Listed — MRED as Distributed by MLS Grid
• 2007-06-07 Sold (Public Records) $124,000 Public Records
• 2004-04-20 Sold (Public Records) $117,500 Public Records
• 1994-04-26 Sold (Public Records) $75,000 Public Records
• 1985-06-05 Sold (Public Records) $36,500 Public Records
• 1985-05-01 Sold (Public Records) $36,500 Public Records

Property tax history

+2.4%/yr

Latest (2023): $2,920 · +3.1% YoY. Source: county tax records.