701 S Elmhurst Rd Unit H · Des Plaines, IL 60016

$195,000

2 bd · 1.0 ba · 826 sqft · Condo · 85 Days on market

Built 1973 $236/sqft · at area comps Est $200k · at est. $329/mo HOA · 18% 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 +10.2/30.0
• ARV discount +8.7/15.0
• 1% rule +4.3/10.0
• Livability +4.2/5.0
• Schools +3.9/10.0
• Rent growth +3.7/5.0
• DSCR +2.9/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Bright and inviting 2-bedroom second floor unit with a west-facing private balcony and modern updates throughout. This move-in ready home features freshly painted walls in neutral tones, creating a warm and welcoming feel from the moment you walk in. The spacious living room flows seamlessly into a large kitchen with room for an eat-in table, complete with brand-new stainless-steel appliances and direct access to the balcony-perfect for enjoying natural breezes and evening sunsets. A long hallway provides added privacy and leads to two generously sized bedrooms. New windows enhance natural light throughout the unit. Two dedicated parking spaces are included for added convenience. No rentals

Key facts

• $329 HOA
• 2 parking spots
• Built 1973

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $195k.

Deal economics

• At list price, monthly cash flow is $-112 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $175k (10.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $181k (7.0% below list).
• Recommended offer: $175k (10.1% below list) — sets the bar for cash-flow.
• Cap rate 5.6% vs local median 3.6% in Des Plaines — 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 (#58 in IL, #1,038 nationally) — a professional / high-income tenant draw. Strengths: commute A+, employment A+, housing A+.
• 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.
• Market conditions: Rents rising fast (+4.7%/yr); 126 active listings in the ZIP; 21 comparable units currently listed for rent nearby; rentals leasing fast (median 1d 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 $6k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 85 days — a 6% lower offer ($183k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $88k; list at $195k implies a 122% gain — meaningful room to come down on a strong offer.

Recommended offer $175,264 (10.1% 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 85 days. Have you received any prior offers? Is the seller open to a 10% concession, seller financing, or rate buy-down credit?
3. Built in 1973 — 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 B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
9. 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?
10. 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.
11. 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.
12. 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: 0.93% ✗
• Cap rate: 5.61%
• Cash-on-cash: -2.46%
• DSCR: 0.89
• GRM: 9.0

CMA / ARV

• ARV (median comp): $200,446
• List price: $195,000
• Delta: -2.72%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 4.74% rent growth · sell at horizon

5-year hold

• IRR: -18.1%
• Equity multiple: 0.35×
• Total profit: $-35,336
• Equity at exit: $29,075

10-year hold

• IRR: -6.7%
• Equity multiple: 0.53×
• Total profit: $-25,599
• Equity at exit: $16,860

Cash invested: $54,600 (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 60016

• Rents YoY: 4.7%
• Active inventory: 126
• Price-to-rent: 9.0×

Monthly cashflow live

• Estimated rent: $1,813 high
• Mortgage (P&I): −$1,023
• Tax from tax record: −$111 /mo · $1,336/yr
• Insurance: −$81
• HOA: −$329
• Vacancy / Maint / Mgmt: −$381
• Net cashflow: $-112

Break-even live

Break-even rent $1,955

Max offer price $175,264

Occupancy floor —

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: $48,750
• Closing costs: $5,850
• Reserves months: —
• Total cash needed: —

Rent comps 21 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1300 S Elmhurst Rd Mount Prospect, IL	1.0–3.0	1.0–2.0	950	$1,950	$2.05	1d	1	0.24mi
601 W Huntington Commons Rd Mount Prospect, IL	2.0	1.5	1100	$2,300	$2.09	1d	1	0.29mi
710 W Huntington Commons Rd Unit 2B Mt Prospect, IL	2.0	1.0	900	$1,699	$1.89	10d	1	0.41mi
710 W Huntington Commons Rd Unit 3A Mt Prospect, IL	1.0	1.0	750	$1,450	$1.93	13d	1	0.41mi
710 W Huntington Commons Rd Unit 1A Mt Prospect, IL	1.0	1.0	700	$1,350	$1.93	16d	1	0.41mi
1105 Holiday Ln #7 Des Plaines, IL	1.0	1.0	750	$1,500	$2.00	20d	1	0.45mi
1308 S Sir Galahad Ln Mount Prospect, IL	2.0	1.0	850	$1,660	$1.95	1d	2	0.45mi
1107 Holiday Ln Des Plaines, IL	1.0	1.0	700	$1,400	$2.00	1d	1	0.46mi
730 W Algonquin Rd Des Plaines, IL	2.0	1.0–2.0	750	$2,149	$2.87	1d	28	0.55mi
726 Dempster St #5 Mt Prospect, IL	2.0	1.0	1100	$1,850	$1.68	1d	1	0.71mi
1550 Dempster St Mt Prospect, IL	1.0–3.0	1.0–2.0	1225	$1,964	$1.60	1d	49	0.99mi
1840 W Hatherleigh Ct Unit 2D Mount Prospect, IL	1.0	1.0	750	$1,500	$2.00	1d	1	1.12mi
1900 W Knightsbridge Dr Unit 2A Mt Prospect, IL	1.0	1.0	750	$1,450	$1.93	1d	1	1.14mi
1910 W Hatherleigh Ct Mount Prospect, IL	1.0–2.0	1.0	900	$1,650	$1.83	21d	2	1.15mi
1910 W Hatherleigh Ct Unit 2E Mount Prospect, IL	2.0	1.0	1100	$1,650	$1.50	10d	1	1.16mi
1703 W Mansard Ln Unit 103 Mt Prospect, IL	2.0	1.0	800	$1,650	$2.06	1d	1	1.19mi
1706 Forest Cove Dr Mount Prospect, IL	2.0	1.0	836	$1,814	$2.17	13d	1	1.21mi
1703 W Dennis Dr Unit 2 B Mt Prospect, IL	2.0	1.0	900	$1,675	$1.86	1d	1	1.23mi
1958 W Algonquin Rd Mount Prospect, IL	1.0–2.0	1.0–1.5	987	$2,089	$2.12	1d	18	1.27mi
165 Dover Dr #2 Des Plaines, IL	1.0	1.0	550	$1,400	$2.55	1d	1	1.31mi
1119 E Algonquin Rd #2 Arlington Heights, IL	2.0	1.0	1100	$1,745	$1.59	10d	1	1.44mi

HOA detail condo

• Monthly dues: $329 · $3,948/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 18 events

1. 2026-06-18
   days on market $195,000 Active 85 DOM
2. 2026-06-17
   days on market $195,000 Active 84 DOM
3. 2026-06-16
   days on market $195,000 Active 83 DOM
4. 2026-06-15
   days on market $195,000 Active 82 DOM
5. 2026-06-13
   days on market $195,000 Active 80 DOM
6. 2026-06-10
   days on market $195,000 Active 77 DOM
7. 2026-06-09
   days on market $195,000 Active 76 DOM
8. 2026-06-08
   pricedays on market $195,000 Active 75 DOM
9. 2026-06-07
   days on market $199,500 Active 74 DOM
10. 2026-06-04
    days on market $199,500 Active 71 DOM
11. 2026-06-03
    days on market $199,500 Active 70 DOM
12. 2026-06-02
    days on market $199,500 Active 69 DOM
13. 2026-06-01
    days on market $199,500 Active 68 DOM
14. 2026-05-31
    days on market $199,500 Active 67 DOM
15. 2024-12-11
    soldstatus $88,000
16. 1993-01-22
    soldstatus $55,000
17. 1990-08-28
    soldstatus $48,000
18. 1980-04-23
    soldstatus $40,000

ⓘ 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: $1,336 · $111/mo
• Projected year-2 tax: $2,881 · $240/mo
• Expected delta: +$1,545/yr (+$129/mo · 115.7%)

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

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 20% 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 4/10 Moderate 5 unhealthy d/yr today · 7 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,759
• − Mortgage interest: −$10,923
• − Property taxes: −$1,336
• − Insurance: −$975
• − Repairs & maintenance: −$1,741
• − Management: −$1,741
• − HOA: −$3,948
• − Depreciation: −$5,673
• Taxable loss: −$4,577
• Est. tax savings @ 24.0%: +$1,099
• After-tax cash flow: $-242/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 — Des Plaines

• Score: 83/100
• State rank: #58
• US rank: #1038

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Des Plaines, IL
• County: Cook County · 4,486,803 people
• City population: 60,898
• Metro: Chicago-Naperville-Elgin, IL-IN-WI
• Population (ZIP): 60,898
• Household income: $86,571
• Rent vs Own: 32.4% rent · 67.6% own
• Severe rent burden: 1719.0

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 0.65)
• Race & ethnicity: White 52% Asian 22% Hispanic / Latino 17% Two or more races 10% Black 5%
• Hispanic origin (detail): Mexican 12% Puerto Rican 2%
• Common ancestry: Romanian 13% Subsaharan African 2% Scotch-Irish 2%
• Foreign-born: 38% · Canada, South Korea, China
• Languages at home: 49% English-only · Russian/Polish/Slavic 13% Other Indo-European 12% 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: ▼ -238.52%
• Current HPI: 223.0247
• Rent YoY: ▲ 4.74%
• 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

+120.0% since first listed

4 events — show timeline

• 2024-12-11 Sold (Public Records) $88,000 Public Records
• 1993-01-22 Sold (Public Records) $55,000 Public Records
• 1990-08-28 Sold (Public Records) $48,000 Public Records
• 1980-04-23 Sold (Public Records) $40,000 Public Records

Property tax history

+3.1%/yr

Latest (2023): $1,336 · +8.5% YoY. Source: county tax records.