1120 Elmwood Ave · Deerfield, IL 60015

$399,000

2 bd · 1.0 ba · 1,338 sqft · SingleFamily public records · 24 Days on market

Built 1952 7,840 sqft lot Est $455k · 12% 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 +13.0/15.0
• Cash flow +10.7/30.0
• Schools +5.9/10.0
• Livability +4.2/5.0
• 1% rule +3.6/10.0
• DSCR +3.1/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Discover the opportunity to shape your future in this charming 2-bedroom, 1-bath ranch, with a detached 2 car garage, proudly positioned as the highest home on the street. Conveniently located within walking distance to the train station and just minutes from popular shopping, dining and everyday essentials. This home offers convenience that's hard to beat-perfect for commuters and busy lifestyles. First-time buyers, rehabbers or investors searching for your next value boosting project, this home is ready for your personal touch and creative vision. Inside, you'll find a simple and functional layout with a rare first-floor family room, a feature not commonly found in homes of this size, off

Key facts

• Unfinished basement
• 7,840 sq ft lot
• 2 garage spots

Tags

• DETACHED 2 CAR GARAGE
• HIGHEST HOME ON THE STREET
• FIRST-FLOOR FAMILY ROOM
• UNFINISHED BASEMENT

Property features AI

Finance

• Other: Property ownership is fee simple; Total finished/unfinished area reported as 884; Home built before 1978
• Financial info: Not currently leased
• HOA & community: No master association fee required

Exterior

• Parking: Detached garage with 2 garage spaces; Asphalt driveway; Garage has an opener
• Utilities: Public water; Public sewer; Electric service with circuit breakers
• Home design: Detached single-family home; Single-story
• Construction: Built approximately 71–80 years ago; Asphalt roof; Concrete perimeter foundation
• Exterior features: Aluminum siding and brick exterior; Lot under 0.25 acre (County records); Commuter-friendly location with bus, train, and interstate access

Interior

• Kitchen: Kitchen on main level (13 x 11); Vinyl kitchen flooring
• Bedrooms: 2 bedrooms (main level); Bedroom dimensions include one at 13 x 12 and another at 13 x 11
• Flooring: Carpet in living room, family room, and bedrooms; Vinyl in kitchen
• Bathrooms: 1 full bathroom
• Heating & cooling: Natural gas forced-air heating; Central air conditioning
• Interior features: Drapes on windows; One wood-burning fireplace in the living room; Unfinished full basement
• Laundry & utility: Laundry room in basement (5 x 4)

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $399k.

Deal economics

• At list price, monthly cash flow is $-190 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $365k (8.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $342k (14.3% below list).
• Recommended offer: $342k (14.3% below list) — sets the bar for 1% rule.
• Cap rate 5.7% vs local median 3.4% in Deerfield — 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 84/100 on livability (#35 in IL, #705 nationally) — a professional / high-income tenant draw. Strengths: crime A+, commute A+, employment A+; Watch: amenities C-, health & safety C-, cost of living F.
• Twp Hsd 113 (suburban): math 60% / reading 63% proficiency, ranked #19 of 620 in IL (top 3%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Deerfield High School (math 67% / reading 69%, grade B, #9 of 693 statewide, top 1%, 1,483 students, 0% FRL).
• Market conditions: 122 active listings in the ZIP; 17 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); high-income renter base; 948 units permitted in Lake County in 2024 (424 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $12k of value loss. Plan a longer hold.
• Lake County population projected to shrink 8% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• It's been on market 24 days — a 2% lower offer ($393k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $77k; list at $399k implies a 418% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1952 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $342,111 (14.3% 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 1952 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are A-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?
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: 0.86% ✗
• Cap rate: 5.72%
• Cash-on-cash: -2.04%
• DSCR: 0.91
• GRM: 9.7

CMA / ARV

• ARV (on-the-fly): $454,920
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1029 Elmwood Ave	0.11mi	3/2.0 (+1)	1,465 (+10%)	0mo	$497,500	$340	69
1056 Linden Ave	0.09mi	3/2.0 (+1)	1,288 (-4%)	16mo	$450,000	$349	67
1156 Myrtle Ln	0.09mi	3/1.5 (+1)	1,236 (-8%)	15mo	$420,000	$340	64
1052 Greenwood Ave	0.16mi	3/1.0 (+1)	1,500 (+12%)	5mo	$377,000	$251	63
1314 Somerset Ave	0.38mi	3/1.5 (+1)	1,386 (+4%)	9mo	$416,150	$300	62
1044 Chestnut St	0.39mi	3/2.0 (+1)	1,368 (+2%)	10mo	$465,000	$340	61
1220 Greenwood Ct	0.24mi	2/1.5	1,232 (-8%)	20mo	$359,000	$291	57
1136 Hazel Ave	0.41mi	3/1.0 (+1)	1,238 (-8%)	11mo	$462,000	$373	54
1030 Chestnut St	0.42mi	3/1.5 (+1)	1,500 (+12%)	1mo	$430,000	$287	52
942 Forest Ave	0.50mi	2/2.0	1,422 (+6%)	15mo	$477,000	$335	50
654 Elder Ln	0.70mi	3/3.0 (+1)	1,365 (+2%)	9mo	$520,000	$381	43
857 W Juniper Ct	0.62mi	3/2.0 (+1)	1,432 (+7%)	17mo	$379,000	$265	36

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -19.6%
• Equity multiple: 0.31×
• Total profit: $-76,621
• Equity at exit: $59,492

10-year hold

• IRR: -12.4%
• Equity multiple: 0.27×
• Total profit: $-81,753
• Equity at exit: $34,498

Cash invested: $111,720 (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 60015

• Active inventory: 122
• Price-to-rent: 9.7×

Monthly cashflow live

• Estimated rent: $3,421 high
• Mortgage (P&I): −$2,092
• Tax from tax record: −$634 /mo · $7,608/yr
• Insurance: −$166
• HOA: −$0
• Vacancy / Maint / Mgmt: −$718
• Net cashflow: $-190

Break-even live

Break-even rent $3,662

Max offer price $365,438

Occupancy floor —

Sensitivity live

Price	-10% $36	-5% $-77	+0% $-190	+5% $-303	+10% $-416
Rent	-10% $-460	-5% $-325	+0% $-190	+5% $-55	+10% $80
Rate	-1.0pp $11	-0.5pp $-89	base $-190	+0.5pp $-293	+1.0pp $-399

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: $99,750
• Closing costs: $11,970
• Reserves months: —
• Total cash needed: —

Rent comps 17 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1344 Barclay Ln Unit 1344 Deerfield, IL	2.0	1.5	1232	$2,450	$1.99	22d	1	0.13mi
1430 Waukegan Rd Deerfield, IL	3.0	3.0	1562	$3,500	$2.24	0d	1	0.17mi
1141 Waukegan Rd Unit 2 Bedroom Deerfield, IL	2.0	1.0	875	$1,625	$1.86	22d	1	0.44mi
1150 Blackthorn Ln Deerfield, IL	3.0	2.5	1566	$4,500	$2.87	26d	1	0.62mi
740 Chestnut St Unit 2 Deerfield, IL	2.0	2.0	1100	$2,990	$2.72	26d	1	0.74mi
625 Deerfield Rd Deerfield, IL	1.0–2.0	1.0–2.0	1057	$3,580	$3.39	6d	11	0.91mi
728 Waukegan Rd Unit 203 Deerfield, IL	2.0	2.0	1117	$4,295	$3.85	18d	1	0.91mi
728 Waukegan Rd Unit 203 Deerfield, IL	2.0	2.0	1117	$4,295	$3.85	23d	1	0.91mi
728 Waukegan Rd Deerfield, IL	2.0	2.0	1117	$4,495	$4.02	23d	1	0.91mi
728 Waukegan Rd Deerfield, IL	3.0	2.0	1767	$7,000	$3.96	26d	1	0.91mi
728 Waukegan Rd Unit 206 Deerfield, IL	2.0	2.0	1117	$4,700	$4.21	26d	1	0.91mi
728 Waukegan Rd Unit 206 Deerfield, IL	2.0	2.0	1117	$4,495	$4.02	25d	1	0.91mi
728 Waukegan Rd Unit 209 Deerfield, IL	3.0	2.5	1767	$5,950	$3.37	18d	1	0.91mi
728 Waukegan Rd Unit 209 Deerfield, IL	3.0	2.5	1767	$5,950	$3.37	23d	1	0.91mi
621 Waukegan Rd Deerfield, IL	2.0	1.0	1200	$2,350	$1.96	14d	1	1.06mi
631 Thayer St Deerfield, IL	1.0–3.0	1.5–2.5	1791	$5,900	$3.29	0d	1	1.07mi
15 Parkway North Blvd Deerfield, IL	1.0–2.0	1.0–2.0	964	$3,348	$3.47	0d	32	1.35mi

Listing history 19 events

1. 2026-06-21
   days on market $399,000 Active 24 DOM
2. 2026-06-18
   status $399,000 Active 21 DOM
3. 2026-06-18
   days on market $399,000 Contingent - No Showings 21 DOM
4. 2026-06-17
   days on market $399,000 Contingent - No Showings 20 DOM
5. 2026-06-16
   days on market $399,000 Contingent - No Showings 19 DOM
6. 2026-06-15
   days on market $399,000 Contingent - No Showings 18 DOM
7. 2026-06-13
   days on market $399,000 Contingent - No Showings 16 DOM
8. 2026-06-13
   days on market $399,000 Contingent - No Showings 15 DOM
9. 2026-06-09
   days on market $399,000 Contingent - No Showings 12 DOM
10. 2026-06-08
    days on market $399,000 Contingent - No Showings 11 DOM
11. 2026-06-07
    days on market $399,000 Contingent - No Showings 10 DOM
12. 2026-06-04
    days on market $399,000 Contingent - No Showings 7 DOM
13. 2026-06-03
    days on market $399,000 Contingent - No Showings 6 DOM
14. 2026-06-02
    days on market $399,000 Contingent - No Showings 5 DOM
15. 2026-06-02
    status $399,000 Contingent - No Showings 4 DOM
16. 2026-06-01
    days on market $399,000 Active 4 DOM
17. 2026-05-31
    days on market $399,000 Active 3 DOM
18. 2026-05-28
    listed $399,000 Active
19. 1984-12-01
    soldstatus $77,000

ⓘ 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: $7,608 · $634/mo
• Projected year-2 tax: $8,333 · $694/mo
• Expected delta: +$725/yr (+$60/mo · 9.5%)

ⓘ 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 2/10 Low 7 d/yr ≥99°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: $41,053
• − Mortgage interest: −$22,350
• − Property taxes: −$7,608
• − Insurance: −$1,995
• − Repairs & maintenance: −$3,284
• − Management: −$3,284
• − Depreciation: −$11,607
• Taxable loss: −$9,076
• Est. tax savings @ 24.0%: +$2,178
• After-tax cash flow: $-102/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: Twp Hsd 113
• NCES district ID: 1719080
• Math proficiency: 60% ▼ -6.00%
• Reading proficiency: 63% ▼ -5.00%
• Median HH income: $122,404
• Composite: 59.23/100
• National rank: #937
• State rank: #19 of 620 in IL

Livability — Deerfield

• Score: 84/100
• State rank: #35
• US rank: #705

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Deerfield, IL
• County: Lake County · 591,991 people
• City population: 28,096
• Metro: Chicago-Naperville-Elgin, IL-IN-WI
• Population (ZIP): 28,096
• Household income: $183,125
• Rent vs Own: 15.3% rent · 84.7% own
• Severe rent burden: 450.0

Population outlook (Lake County) Hauer SSP2

• Today (2025): 700,217 people
• By 2030: 693,290 · -1.0%
• By 2040: 673,588 · -3.8%
• By 2050: 643,556 · -8.1%
• By 2075: 562,792 · -19.6%
• By 2100: 457,715 · -34.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (84%)
• Race & ethnicity: White 84% Asian 8% Hispanic / Latino 5% Two or more races 3% Black 1%
• Common ancestry: Romanian 11% Scotch-Irish 10% Italian 4%
• Foreign-born: 14% · China, South Korea, Canada
• Languages at home: 82% English-only · Russian/Polish/Slavic 6% Other Indo-European 3% Spanish 3%

Political lean MEDSL · Lake

• 2024 margin: Strong D (+20.8) · D 59.7% · R 38.9% · Other 1.4%
• 2008→2024 swing: +1.1pp toward D · 2008: 19.6pp · 2024: 20.8pp
• All cycles: 2024: D+20.8 2020: D+24.1 2016: D+20.3 2012: D+8.1 2008: D+19.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -318.91%
• Current HPI: 184.8993
• Rent YoY: —
• 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

+418.2% since first listed

2 events — show timeline

• 2026-05-28 Listed $399,000 MRED as Distributed by MLS Grid
• 1984-12-01 Sold (Public Records) $77,000 Public Records

Property tax history

+3.4%/yr

Latest (2024): $7,608 · -2.0% YoY. Source: county tax records.