1363 Perry St Unit 3A · Des Plaines, IL 60016

$219,000

2 bd · 1.0 ba · — sqft · Condo · 3 Days on market

Built 1974 $374/mo HOA · 16% 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 +12.5/30.0
• ARV discount +7.5/15.0
• 1% rule +5.7/10.0
• Livability +4.2/5.0
• DSCR +3.7/10.0
• Rent growth +3.7/5.0
• Schools +3.4/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Stop by the taste of Des Plaines and walk over to see your new home! Investor friendly building! No rental restrictions. Top floor unit walking distance to everything. In-town location is close to train, restaurants, shopping. Freshly painted throughout and hardwood floors refinished. Corner unit so great cross breeze when you open windows. Deeded parking space included. Coin Laundry in basement but a washer and dryer can be installed in the unit. Storage locker in basement off the alley door.

Key facts

• Coin laundry
• Deeded parking space
• In-town location

Tags

• PENTHOUSE UNIT
• IN-TOWN LOCATION
• CORNER UNIT
• DEEDED PARKING SPACE
• COIN LAUNDRY

Property features AI

Finance

• HOA & community: Monthly association fee of $374; Association fee includes heat, water, gas, parking, insurance, exterior maintenance, lawn care, trash removal, snow removal, and other services; Community amenities include coin laundry and storage; Pets allowed — cats and dogs OK

Exterior

• Parking: One assigned, owned parking space
• Utilities: Lake Michigan and public water source; Public sewer; Electric service with circuit breakers
• Home design: Attached single-family style condo; Entry on third level; Fee simple ownership with homeowners association; Built approximately 51–60 years ago; Contains materials with possible lead-based paint (built before 1978)
• Construction: Brick construction
• Exterior features: Integral lot (attached setting)

Interior

• Kitchen: Eating area / table space; Range; Dishwasher; Refrigerator; Tile flooring in kitchen (11 x 10)
• Bedrooms: Master bedroom on third level with hardwood floors (16 x 12); Second bedroom on third level with hardwood floors (14 x 11); Two bedrooms total
• Flooring: Hardwood flooring in living room, dining area and bedrooms; Tile flooring in kitchen
• Bathrooms: One full bathroom
• Heating & cooling: Natural gas heating; Wall unit(s) for cooling
• Interior features: Four total rooms; Dining room combined with living room; Laundry located in a common area
• Laundry & utility: Laundry in common area

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $219k.

Deal economics

• At list price, monthly cash flow is $-34 ($-403/yr) — negative.
• To cash-flow at today's rent, offer at most $214k (2.2% below list).
• Meets the 1% rule at list price ($2k rent vs $219k).
• Recommended offer: $214k (2.2% below list) — sets the bar for cash-flow.
• Cap rate 6.1% vs local median 3.5% 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+.
• Maine Township Hsd 207 (suburban): math 34% / reading 39% proficiency, ranked #143 of 620 in IL (top 23%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising fast (+4.7%/yr); 132 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 20d on market — plan ~3-4 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 33% of the median local income ($87k/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 $7k of value loss. Plan a longer hold.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.

Recommended offer $214,146 (2.2% 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 1974 — 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
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: 1.07% ✓
• Cap rate: 6.11%
• Cash-on-cash: -0.66%
• DSCR: 0.97
• GRM: 7.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -14.8%
• Equity multiple: 0.46×
• Total profit: $-33,179
• Equity at exit: $32,654

10-year hold

• IRR: -2.8%
• Equity multiple: 0.79×
• Total profit: $-12,794
• Equity at exit: $18,935

Cash invested: $61,320 (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 60016

• Rents YoY: 4.7%
• Active inventory: 132
• Price-to-rent: 7.8×

Monthly cashflow live

• Estimated rent: $2,347 high
• Mortgage (P&I): −$1,148
• Tax est. 1.5%: −$274 /mo · $3,285/yr
• Insurance: −$91
• HOA: −$374
• Vacancy / Maint / Mgmt: −$493
• Net cashflow: $-34

Break-even live

Break-even rent $2,389

Max offer price $214,146

Occupancy floor 96%

Sensitivity live

Price	-10% $118	-5% $42	+0% $-34	+5% $-109	+10% $-185
Rent	-10% $-219	-5% $-126	+0% $-34	+5% $59	+10% $152
Rate	-1.0pp $77	-0.5pp $22	base $-34	+0.5pp $-90	+1.0pp $-148

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: $54,750
• Closing costs: $6,570
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1378 Perry St #510 Des Plaines, IL	2.0	2.0	1585	$2,700	$1.70	25d	1	0.03mi
425 Laurel Ave Unit 1 Des Plaines, IL	2.0	1.0	1000	$1,750	$1.75	19d	1	0.12mi
1354 E Washington St #302 Des Plaines, IL	2.0	1.0	1100	$2,000	$1.82	25d	1	0.15mi
1509 Brown St Unit 11E Des Plaines, IL	1.0	1.0	700	$1,495	$2.14	4d	1	0.17mi
430 Oak St Des Plaines, IL	2.0	1.5	1080	$2,250	$2.08	25d	1	0.18mi
397 Alles St Unit 2 Des Plaines, IL	3.0	2.0	1550	$2,800	$1.81	25d	1	0.18mi
397 Alles St Unit 2 Des Plaines, IL	3.0	2.0	1550	$2,800	$1.81	21d	1	0.18mi
1425 Ellinwood St Des Plaines, IL	1.0–2.0	1.0–2.0	941	$3,308	$3.51	0d	16	0.20mi
429 Western Ave Unit 3 Des Plaines, IL	2.0	1.0	1000	$1,750	$1.75	4d	1	0.22mi
647 Metropolitan Way #508 Des Plaines, IL	2.0	2.0	1400	$2,695	$1.93	25d	1	0.26mi
430 S Western Ave #410 Des Plaines, IL	1.0	1.0	1000	$2,100	$2.10	5d	1	0.27mi
656 Pearson St Unit 701C Des Plaines, IL	2.0	2.0	1536	$2,800	$1.82	2d	1	0.28mi
656 Pearson St Unit 403C Des Plaines, IL	2.0	2.0	1278	$2,550	$2.00	25d	1	0.28mi
1260 Evergreen Ave Des Plaines, IL	2.0	2.5	—	$3,200	—	7d	1	0.30mi
595 S River Rd Des Plaines, IL	1.0–2.0	1.0–2.0	1125	$2,823	$2.51	0d	3	0.33mi
675 Pearson St #704 Des Plaines, IL	3.0	2.0	1788	$3,000	$1.68	6d	1	0.34mi
770 Pearson St #211 Des Plaines, IL	2.0	2.0	1337	$2,575	$1.93	25d	1	0.34mi
677 S River Rd Unit 3F Des Plaines, IL	1.0	1.0	710	$1,620	$2.28	25d	1	0.39mi
1555 Ellinwood Ave Des Plaines, IL	2.0	1.0–2.0	887	$3,605	$4.06	25d	7	0.39mi
1555 Ellinwood Ave Des Plaines, IL	2.0	1.0–2.0	887	$3,555	$4.01	0d	4	0.39mi
799 Graceland Ave Unit 402A Des Plaines, IL	3.0	2.0	1868	$3,000	$1.61	18d	1	0.41mi
850 Lexington Cir W Des Plaines, IL	3.0	2.5	1900	$3,300	$1.74	25d	1	0.43mi
880 Lee St Des Plaines, IL	2.0	1.0–2.0	865	$2,800	$3.24	18d	1	0.46mi
994 Greenview Ave Des Plaines, IL	3.0	1.0	—	$2,700	—	23d	1	0.50mi
1779 Rand Rd Unit 3B Des Plaines, IL	2.0	1.5	841	$1,850	$2.20	25d	1	0.50mi
1014 E Prairie Ave Unit 2FE Des Plaines, IL	2.0	1.0	1000	$1,550	$1.55	3d	1	0.52mi
931 S Cora St Des Plaines, IL	2.0	1.0	—	$1,950	—	0d	1	0.54mi
1425 Ashland Ave Unit na Des Plaines, IL	1.0	1.0	—	$1,785	—	19d	1	0.55mi
1551 Ashland Ave #306 Des Plaines, IL	2.0	1.5	1500	$2,350	$1.57	7d	1	0.58mi
1634 Oakwood Ave Unit 403 Des Plaines, IL	2.0	1.0	—	$1,950	—	25d	1	0.66mi
1648 Oakwood Ave Unit C3 Des Plaines, IL	2.0	1.0	—	$1,950	—	25d	1	0.67mi
1639 Oakwood Ave Des Plaines, IL	2.0	1.0	—	$1,950	—	16d	1	0.69mi
1639 Oakwood Ave Des Plaines, IL	2.0	1.0	900	$1,850	$2.06	19d	1	0.69mi
1639 Oakwood Ave Unit D403 Des Plaines, IL	2.0	1.0	900	$1,950	$2.17	7d	1	0.69mi
1639 Oakwood Ave Unit 304 Des Plaines, IL	2.0	1.0	900	$1,950	$2.17	16d	1	0.69mi
1639 Oakwood Ave Des Plaines, IL	2.0	1.0	—	$1,950	—	25d	1	0.69mi
1639 Oakwood Ave Unit 304 Des Plaines, IL	2.0	1.0	—	$1,950	—	5d	1	0.69mi
1653 Oakwood Ave Unit C4 Des Plaines, IL	2.0	1.0	900	$1,950	$2.17	7d	1	0.70mi
1653 Oakwood Ave Des Plaines, IL	2.0	1.0	900	$1,950	$2.17	25d	1	0.71mi
999 S River Rd Unit 102 Des Plaines, IL	2.0	1.0	—	$1,850	—	23d	1	0.71mi

HOA detail condo

• Monthly dues: $374 · $4,488/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 5 events

1. 2026-06-21
   remarks 500-char remark
2. 2026-06-21
   statusdays on marketlisting id $219,000 Active 3 DOM
3. 2026-06-18
   days on market $219,000 Coming Soon 2 DOM
4. 2026-06-17
   remarks 382-char remark
5. 2026-06-17
   listed $219,000 Coming Soon 1 DOM

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

Taxation est. · year 1

• Rental income: $28,161
• − Mortgage interest: −$12,267
• − Property taxes: −$3,285
• − Insurance: −$1,095
• − Repairs & maintenance: −$2,253
• − Management: −$2,253
• − HOA: −$4,488
• − Depreciation: −$6,371
• Taxable loss: −$3,851
• Est. tax savings @ 24.0%: +$924
• After-tax cash flow: $522/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: Maine Township Hsd 207
• NCES district ID: 1724090
• Math proficiency: 34% ▼ -13.00%
• Reading proficiency: 39% ▼ -7.00%
• Median HH income: $79,034
• Composite: 34.36/100
• National rank: #5220
• State rank: #143 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