830 Elder Rd #111 · Homewood, IL 60430

$75,000

2 bd · 2.0 ba · 900 sqft · Condo · 259 Days on market

Built 1976 $368/mo HOA · 22% of rent

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Why this score? — see what drove the B- 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.4/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome home to your beautiful first floor 2 bedroom, 2 bathroom condo. Enter the front door to your spacious living & dining room. The dining room opens up to your galley style kitchen complete with ample counter space and storage. Down the hallway are the home's two large bedrooms both with great storage in the closet. Conveniently located off of Halsted, this building has everything at your fingertips - from shopping, to public transportation, to quick interstate access! Be sure to check out the clubhouse with swimming pool, the laundry room, storage, and other features. Why rent when you can build equity and own your own home!!

Key facts

• Laundry facilities
• Clubhouse
• Storage

Tags

• PRIVATE PATIO
• CLUBHOUSE
• SWIMMING POOL
• LAUNDRY FACILITIES
• STORAGE

Property features AI

Finance

• Other: Sixty units in the building; Living area listed as estimated
• Financial info: Special service area: No
• HOA & community: Monthly association fee of $368; Association covers clubhouse, pool, and exterior maintenance; Pets allowed (cats and dogs) with limits — maximum pet weight 18 lbs

Exterior

• Parking: Details not provided
• Security: Details not provided
• Utilities: Public water; Public sewer
• Home design: Attached single-unit condo; Entry level: 1; Condo ownership
• Construction: Brick construction; Built 41–50 years ago; Property built before 1978
• Exterior features: Common lot; School bus service

Interior

• Kitchen: Kitchen on the main level (8 x 8)
• Bedrooms: Master bedroom on the main level (12 x 12) with full bath; Additional bedrooms (one on main level, 10 x 10; two other bedrooms listed)
• Flooring: Carpet in master bedroom and one bedroom
• Bathrooms: Two full bathrooms
• Heating & cooling: Natural gas heating with forced air; Central air conditioning
• Interior features: Five total rooms; School bus service
• Laundry & utility: Laundry room

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $75k.

Deal economics

• At list price, monthly cash flow is $417 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $75k).
• Recommended offer: $66k (12.0% below list) — sets the bar for market timing.
• Cap rate 13.0% vs local median 6.1% in Homewood — 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 81/100 on livability (#81 in IL, #1,314 nationally) — a professional / high-income tenant draw. Strengths: commute A+, employment A+, cost of living A+; Watch: schools D+, amenities F.
• Homewood Flossmoor Chsd 233 (suburban): math 21% / reading 27% proficiency, ranked #272 of 620 in IL (top 44%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 101 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 19d on market — plan ~3-4 weeks tenant-placement turnaround); 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 $519 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $21k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 259 days — a 12% lower offer ($66k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 14y ago; this cycle's ask has dropped $25k (25%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: HOA is 22% of rent.

Recommended offer $66,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 259 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 1976 — 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. 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?
8. 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.
9. 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.
10. 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: 2.20% ✓
• Cap rate: 12.97%
• Cash-on-cash: 23.85%
• DSCR: 2.06
• GRM: 3.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 17.3%
• Equity multiple: 1.70×
• Total profit: $14,677
• Equity at exit: $11,183

10-year hold

• IRR: 25.9%
• Equity multiple: 3.29×
• Total profit: $48,025
• Equity at exit: $6,485

Cash invested: $21,000 (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 60430

• Home prices YoY: -32.1%
• Active inventory: 101
• Price-to-rent: 3.8×

Monthly cashflow live

• Estimated rent: $1,650 medium
• Mortgage (P&I): −$393
• Tax est. 1.5%: −$94 /mo · $1,125/yr
• Insurance: −$31
• HOA: −$368
• Vacancy / Maint / Mgmt: −$347
• Net cashflow: $417

Break-even live

Break-even rent $1,122

Max offer price $75,000

Occupancy floor 70%

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: $18,750
• Closing costs: $2,250
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1933 Hickory Rd Unit 1937-C Homewood, IL	1.0	1.0	850	$1,550	$1.82	18d	1	1.32mi
1933 Hickory Rd Homewood, IL	1.0	1.0	850	$1,550	$1.82	20d	1	1.32mi
44 N Glenwood Ave Glenwood, IL	1.0	1.0	700	$1,900	$2.71	1d	1	1.36mi

HOA detail condo

• Monthly dues: $368 · $4,416/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 22 events

1. 2026-05-14
   status Pending
2. 2026-04-15
   price $75,000
3. 2026-02-27
   price $80,000
4. 2026-01-21
   price $85,000
5. 2025-11-14
   price $90,000
6. 2025-10-02
   price $95,000
7. 2025-08-29
   listed $100,000 Active
8. 2021-11-30
   soldstatus $77,000 Closed 643-char remark

   Show marketing remark (643 chars)

   Welcome home to your beautiful first floor 2 bedroom, 2 bathroom condo. Enter the front door to your spacious living & dining room. The dining room opens up to your galley style kitchen complete with ample counter space and storage. Down the hallway are the home's two large bedrooms both with great storage in the closet. Conveniently located off of Halsted, this building has everything at your fingertips - from shopping, to public transportation, to quick interstate access! Be sure to check out the clubhouse with swimming pool, the laundry room, storage, and other features. Why rent when you can build equity and own your own home!!

9. 2021-11-16
   listed $64,900 643-char remark

   Show marketing remark (643 chars)

   Welcome home to your beautiful first floor 2 bedroom, 2 bathroom condo. Enter the front door to your spacious living & dining room. The dining room opens up to your galley style kitchen complete with ample counter space and storage. Down the hallway are the home's two large bedrooms both with great storage in the closet. Conveniently located off of Halsted, this building has everything at your fingertips - from shopping, to public transportation, to quick interstate access! Be sure to check out the clubhouse with swimming pool, the laundry room, storage, and other features. Why rent when you can build equity and own your own home!!

10. 2021-11-16
    historical 643-char remark

    Show marketing remark (643 chars)

    Welcome home to your beautiful first floor 2 bedroom, 2 bathroom condo. Enter the front door to your spacious living & dining room. The dining room opens up to your galley style kitchen complete with ample counter space and storage. Down the hallway are the home's two large bedrooms both with great storage in the closet. Conveniently located off of Halsted, this building has everything at your fingertips - from shopping, to public transportation, to quick interstate access! Be sure to check out the clubhouse with swimming pool, the laundry room, storage, and other features. Why rent when you can build equity and own your own home!!

11. 2021-10-21
    historical
12. 2021-10-21
    historical
13. 2021-10-21
    listed
14. 2016-10-27
    soldstatus $27,000 Closed Sale
15. 2016-09-19
    status Pending
16. 2016-08-05
    price $29,900
17. 2016-07-16
    price $32,500
18. 2016-05-26
    price $34,500
19. 2016-05-25
    listed $30,000 New
20. 2013-01-18
    soldstatus $25,500 Closed Sale
21. 2012-12-29
    status Pending
22. 2012-12-06
    listed $27,900 New

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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 ≥101°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,802
• − Mortgage interest: −$4,201
• − Property taxes: −$1,125
• − Insurance: −$375
• − Repairs & maintenance: −$1,584
• − Management: −$1,584
• − HOA: −$4,416
• − Depreciation: −$2,182
• Taxable income: $4,335
• Est. tax owed @ 24.0%: −$1,040
• After-tax cash flow: $3,968/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: Homewood Flossmoor Chsd 233
• NCES district ID: 1719560
• Math proficiency: 21% ▼ -15.00%
• Reading proficiency: 27% ▼ -13.00%
• Median HH income: $83,564
• Composite: 24.42/100
• National rank: #7681
• State rank: #272 of 620 in IL

Livability — Homewood

• Score: 81/100
• State rank: #81
• US rank: #1314

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Homewood, IL
• City population: 19,993
• Population (ZIP): 19,993

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 0.62)
• Race & ethnicity: Black 44% White 42% Hispanic / Latino 9% Two or more races 6% Asian 1%
• Hispanic origin (detail): Mexican 7%
• Common ancestry: Romanian 5% Iranian 2% Italian 2%
• Foreign-born: 6% · Canada, Dominican Republic
• Languages at home: 91% English-only · Spanish 5% Russian/Polish/Slavic 1% German/W. Germanic 1%

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: ▼ -105.00%
• Current HPI: 222.2923
• Rent YoY: —
• Metro: —
• 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

+168.8% since first listed

22 events — show timeline

• 2026-05-14 Pending — MRED as Distributed by MLS Grid
• 2026-04-15 Price Changed $75,000 MRED as Distributed by MLS Grid
• 2026-02-27 Price Changed $80,000 MRED as Distributed by MLS Grid
• 2026-01-21 Price Changed $85,000 MRED as Distributed by MLS Grid
• 2025-11-14 Price Changed $90,000 MRED as Distributed by MLS Grid
• 2025-10-02 Price Changed $95,000 MRED as Distributed by MLS Grid
• 2025-08-29 Listed $100,000 MRED as Distributed by MLS Grid
• 2021-11-30 Sold (MLS) $77,000 MRED as Distributed by MLS Grid
• 2021-11-16 Listing Removed — MRED as Distributed by MLS Grid
• 2021-11-16 Listed $64,900 MRED as Distributed by MLS Grid
• 2021-10-21 Listed — MRED as Distributed by MLS Grid
• 2021-10-21 Listing Removed — MRED as Distributed by MLS Grid
• 2021-10-21 Listing Removed — MRED as Distributed by MLS Grid
• 2016-10-27 Sold (MLS) $27,000 MRED as Distributed by MLS Grid
• 2016-09-19 Pending — MRED as Distributed by MLS Grid
• 2016-08-05 Price Changed $29,900 MRED as Distributed by MLS Grid
• 2016-07-16 Price Changed $32,500 MRED as Distributed by MLS Grid
• 2016-05-26 Price Changed $34,500 MRED as Distributed by MLS Grid
• 2016-05-25 Listed $30,000 MRED as Distributed by MLS Grid
• 2013-01-18 Sold (MLS) $25,500 MRED as Distributed by MLS Grid
• 2012-12-29 Pending — MRED as Distributed by MLS Grid
• 2012-12-06 Listed $27,900 MRED as Distributed by MLS Grid