1316 Central St Unit 1E · Evanston, IL 60201

$162,000

1 bd · 1.0 ba · 750 sqft · Condo · 35 Days on market

Built 1950 $222/mo HOA · 11% 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).

• Cash flow +22.9/30.0
• 1% rule +7.8/10.0
• ARV discount +7.5/15.0
• DSCR +7.4/10.0
• Schools +4.5/10.0
• Livability +4.2/5.0
• Rent growth +3.7/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Fabulous NE Evanston location near NU, Hospital, Lake & Transportation. This light filled unit has ample closets,newer kitchen & bath. Living room offers a picture window overlooking lovely courtyard. Heat & parking space included in low assessment. Laundry & private storage in basement. Don't miss the opportunity to own this conveniently located unit in a pet friendly building. Interior photos from previous tenant

Key facts

• $222 HOA
• Parking
• Built 1950

Property features AI

Finance

• Other: Not currently leased
• HOA & community: Monthly association fee of $222; Association fee covers heat, water, gas, parking, insurance, exterior maintenance, lawn care, trash collection, and snow removal; Association amenities include bike room/trails, coin laundry, and storage; Self-managed association; Pets allowed (cats and dogs), maximum pet weight 50 lbs

Exterior

• Parking: Assigned owned parking (1 space)
• Utilities: Water: Lake Michigan; Sewer: Public sewer
• Home design: Attached single condo; Entry level: 1; Condo ownership
• Construction: Brick construction; Built 71–80 years ago; Built before 1978
• Exterior features: Common lot; Commuter train access

Interior

• Kitchen: Range; Microwave; Dishwasher; Refrigerator; Garbage disposal; Stainless steel appliances
• Bedrooms: 1 bedroom (main level); Additional rooms listed as Bedroom 2, Bedroom 3, Bedroom 4
• Flooring: Laminate flooring; Wood laminate in kitchen, living room, dining area and bedrooms
• Bathrooms: 1 full bathroom
• Heating & cooling: Steam heating; Baseboard heating; Window air conditioning unit(s)
• Interior features: First-floor bedroom; Intercom; CO detectors; 4 total rooms
• Laundry & utility: In-unit laundry on main level; Washer; Dryer; Gas dryer hookup

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $162k.

Deal economics

• At list price, monthly cash flow is $285 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $162k).
• Recommended offer: $157k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.4% vs local median 2.9% in Evanston — 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 85/100 on livability (#26 in IL, #464 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, employment A+; Watch: cost of living F.
• Evanston Twp Hsd 202 (urban): math 47% / reading 52% proficiency, ranked #54 of 620 in IL (top 9%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Evanston Twp High School (math 47% / reading 52%, grade D, #44 of 693 statewide, top 7%, 3,691 students, 0% FRL).
• Market conditions: Rents rising fast (+4.9%/yr); 102 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 16d 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 4.9% rent growth), your $45k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 35 days — a 3% lower offer ($157k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 19y 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.
• Current owner paid $120k; 35% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $157,140 (3.0% below list)

Questions for the listing agent

1. It's been on market 35 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1950 — 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 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?
7. 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.
8. 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.
9. 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: 1.28% ✓
• Cap rate: 8.41%
• Cash-on-cash: 7.55%
• DSCR: 1.34
• GRM: 6.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 4.93% rent growth · sell at horizon

5-year hold

• IRR: -2.2%
• Equity multiple: 0.92×
• Total profit: $-3,784
• Equity at exit: $24,155

10-year hold

• IRR: 9.9%
• Equity multiple: 1.85×
• Total profit: $38,397
• Equity at exit: $14,007

Cash invested: $45,360 (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 60201

• Rents YoY: 4.9%
• Active inventory: 102
• Price-to-rent: 6.5×

Monthly cashflow live

• Estimated rent: $2,080 high
• Mortgage (P&I): −$850
• Tax from tax record: −$219 /mo · $2,623/yr
• Insurance: −$68
• HOA: −$222
• Vacancy / Maint / Mgmt: −$437
• Net cashflow: $285

Break-even live

Break-even rent $1,719

Max offer price $162,000

Occupancy floor 81%

Sensitivity live

Price	-10% $377	-5% $331	+0% $285	+5% $239	+10% $194
Rent	-10% $121	-5% $203	+0% $285	+5% $367	+10% $450
Rate	-1.0pp $367	-0.5pp $327	base $285	+0.5pp $243	+1.0pp $201

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: $40,500
• Closing costs: $4,860
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1318 Central St Unit 1N Evanston, IL	2.0	1.0	900	$2,400	$2.67	3d	1	0.02mi
2527 Jackson Ave Evanston, IL	1.0	1.0	730	$1,675	$2.29	3d	1	0.10mi
2525 Eastwood Ave Evanston, IL	2.0	1.0	750	$1,795	$2.39	22d	1	0.28mi
2730 Hampton Pkwy Evanston, IL	1.0–2.0	1.0	740	$1,200	$1.62	2d	11	0.29mi
2732 Hampton Pkwy Unit D1 Evanston, IL	1.0	1.0	551	$1,200	$2.18	7d	1	0.29mi
2752 Hampton Pkwy #956 Evanston, IL	1.0–2.0	1.0	650	$1,850	$2.85	16d	2	0.29mi
2742 Hampton Pkwy Evanston, IL	1.0	1.0	541	$1,398	$2.58	7d	1	0.29mi
2760 Hampton Pkwy Unit V1 Evanston, IL	1.0	1.0	779	$1,895	$2.43	7d	1	0.29mi
1720 Central St Evanston, IL	2.0	1.0–2.0	947	$3,656	$3.86	0d	11	0.35mi
2213 Ridge Ave Evanston, IL	2.0	1.0	820	$1,935	$2.36	3d	1	0.47mi
1806 Colfax St Evanston, IL	1.0	1.0	750	$1,850	$2.47	25d	1	0.49mi
1928 Harrison St Unit G Evanston, IL	2.0	2.0	1000	$2,450	$2.45	25d	1	0.50mi
2537 Prairie Ave Unit 2E Evanston, IL	1.0	1.0	550	$1,800	$3.27	19d	1	0.51mi
2129 Ridge Ave Evanston, IL	2.0–3.0	1.0	897	$2,195	$2.45	13d	6	0.54mi
2200 Sherman Ave Evanston, IL	2.0	1.0	895	$2,195	$2.45	7d	1	0.61mi
2113 Darrow Ave Unit 2113D Evanston, IL	2.0	1.0	720	$1,750	$2.43	25d	1	0.65mi
418 5th St Unit 423L-2E Wilmette, IL	2.0	1.0	920	$1,645	$1.79	25d	1	0.67mi
810 Simpson St Evanston, IL	2.0	1.0	1000	$2,600	$2.60	25d	1	0.70mi
900 Isabella St Wilmette, IL	2.0	1.0	1064	$3,900	$3.67	0d	1	0.70mi
1838 Ashland Ave Unit 1F Evanston, IL	2.0	1.0	900	$2,100	$2.33	25d	1	0.87mi
2017 Foster St Unit 1 Evanston, IL	2.0	1.0	1100	$3,000	$2.73	3d	1	0.90mi
2005 Emerson St Unit 1287274P Evanston, IL	2.0	1.0	1097	$9,509	$8.67	22d	1	0.98mi
1717 Ridge Ave Evanston, IL	3.0	1.0–2.0	876	$3,103	$3.54	2d	24	1.01mi
1727 Oak Ave Evanston, IL	1.0–2.0	1.0–2.0	865	$2,562	$2.96	0d	7	1.02mi
1720 Oak Ave #406 Evanston, IL	1.0	1.0	805	$2,250	$2.80	22d	1	1.02mi
1720 Maple Ave Evanston, IL	1.0–2.0	1.0–2.0	1186	$2,900	$2.44	25d	2	1.03mi
1327 Church St Unit CH Evanston, IL	2.0	1.0	957	$2,300	$2.40	25d	1	1.04mi
1121 Church St Evanston, IL	2.0	1.5	1100	$1,815	$1.65	3d	3	1.05mi
810 Clark St Evanston, IL	1.0–2.0	1.0	800	$1,970	$2.46	25d	1	1.06mi
1745 Brown Ave #1 Evanston, IL	2.0	1.0	900	$2,000	$2.22	25d	1	1.09mi
1627 Ridge Ave Evanston, IL	1.0	1.0	700	$1,315	$1.88	7d	1	1.09mi
1011 Central Ave Unit 2 Wilmette, IL	2.0	2.0	1100	$2,995	$2.72	15d	1	1.10mi
1706 Sherman Ave Evanston, IL	3.0	1.0–2.5	1188	$3,583	$3.02	0d	9	1.12mi
807 Church St #404 Evanston, IL	1.0	1.0	830	$2,250	$2.71	18d	1	1.12mi
1615 Ridge Ave Evanston, IL	2.0–4.0	1.0–2.0	1318	$1,795	$1.36	7d	5	1.12mi
2722 Central St Unit 4S Evanston, IL	2.0	1.0	1100	$3,650	$3.32	25d	1	1.12mi
1570 Oak Ave Evanston, IL	2.0	1.0–2.0	712	$1,608	$2.26	7d	6	1.22mi
1590 Elmwood Ave Unit 1205 Evanston, IL	1.0	1.0	667	$3,195	$4.79	25d	1	1.23mi
1590 Elmwood Ave Evanston, IL	2.0	2.0	1097	$4,105	$3.74	18d	1	1.23mi
1590 Elmwood Ave Evanston, IL	1.0	1.0	751	$2,960	$3.94	25d	1	1.23mi

HOA detail condo

• Monthly dues: $222 · $2,664/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 17 events

1. 2026-06-04
   statusdays on market $162,000 Pending 35 DOM
2. 2026-06-03
   days on market $162,000 Contingent - Continue to Show 34 DOM
3. 2026-06-02
   days on market $162,000 Contingent - Continue to Show 33 DOM
4. 2026-06-01
   days on market $162,000 Contingent - Continue to Show 32 DOM
5. 2026-05-31
   days on market $162,000 Contingent - Continue to Show 31 DOM
6. 2026-05-04
   historical Contingent - Continue to Show
7. 2026-04-30
   listed $162,000 Active
8. 2023-01-31
   historical
9. 2015-09-28
   soldstatus $120,000
10. 2015-09-24
    soldstatus $120,000 Closed Sale 434-char remark

    Show marketing remark (434 chars)

    Fabulous NE Evanston location near NU, Hospital, Lake & Transportation. This light filled unit has ample closets,newer kitchen & bath. Living room offers a picture window overlooking lovely courtyard. Heat & parking space included in low assessment. Laundry & private storage in basement. Don't miss the opportunity to own this conveniently located unit in a pet friendly building. Interior photos from previous tenant

11. 2015-09-08
    status Pending 434-char remark

    Show marketing remark (434 chars)

    Fabulous NE Evanston location near NU, Hospital, Lake & Transportation. This light filled unit has ample closets,newer kitchen & bath. Living room offers a picture window overlooking lovely courtyard. Heat & parking space included in low assessment. Laundry & private storage in basement. Don't miss the opportunity to own this conveniently located unit in a pet friendly building. Interior photos from previous tenant

12. 2015-08-19
    historical Contingent 434-char remark

    Show marketing remark (434 chars)

    Fabulous NE Evanston location near NU, Hospital, Lake & Transportation. This light filled unit has ample closets,newer kitchen & bath. Living room offers a picture window overlooking lovely courtyard. Heat & parking space included in low assessment. Laundry & private storage in basement. Don't miss the opportunity to own this conveniently located unit in a pet friendly building. Interior photos from previous tenant

13. 2015-07-28
    listed $125,000 New 434-char remark

    Show marketing remark (434 chars)

    Fabulous NE Evanston location near NU, Hospital, Lake & Transportation. This light filled unit has ample closets,newer kitchen & bath. Living room offers a picture window overlooking lovely courtyard. Heat & parking space included in low assessment. Laundry & private storage in basement. Don't miss the opportunity to own this conveniently located unit in a pet friendly building. Interior photos from previous tenant

14. 2008-07-26
    historical
15. 2007-11-07
    listed
16. 2007-10-30
    historical
17. 2007-05-21
    listed

ⓘ 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: $2,623 · $219/mo
• Projected year-2 tax: $3,150 · $263/mo
• Expected delta: +$527/yr (+$44/mo · 20.1%)

ⓘ 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) · 22% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥98°F today · 14 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 0% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 4 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $24,956
• − Mortgage interest: −$9,075
• − Property taxes: −$2,623
• − Insurance: −$810
• − Repairs & maintenance: −$1,997
• − Management: −$1,997
• − HOA: −$2,664
• − Depreciation: −$4,713
• Taxable income: $1,079
• Est. tax owed @ 24.0%: −$259
• After-tax cash flow: $3,165/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: Evanston Twp Hsd 202
• NCES district ID: 1714490
• Math proficiency: 47% ▼ -3.00%
• Reading proficiency: 52% ▬ 0.00%
• Median HH income: $72,672
• Composite: 44.52/100
• National rank: #2794
• State rank: #54 of 620 in IL

Livability — Evanston

• Score: 85/100
• State rank: #26
• US rank: #464

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Evanston, IL
• County: Cook County · 4,486,803 people
• City population: 76,085
• Metro: Chicago-Naperville-Elgin, IL-IN-WI
• Population (ZIP): 43,744
• Household income: $90,545
• Rent vs Own: 45.4% rent · 54.6% own
• Severe rent burden: 2996.0

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 0.58)
• Race & ethnicity: White 62% Black 12% Two or more races 11% Hispanic / Latino 11% Asian 10%
• Hispanic origin (detail): Mexican 5% Puerto Rican 1%
• Common ancestry: Romanian 5% Scotch-Irish 3% Italian 2%
• Foreign-born: 15% · Canada, China, South Korea
• Languages at home: 81% English-only · Spanish 5% Chinese 4% 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: ▼ -298.75%
• Current HPI: 176.2844
• Rent YoY: ▲ 4.93%
• 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

+29.6% since first listed

12 events — show timeline

• 2026-05-04 Contingent — MRED as Distributed by MLS Grid
• 2026-04-30 Listed $162,000 MRED as Distributed by MLS Grid
• 2023-01-31 Listing Removed — MRED as Distributed by MLS Grid
• 2015-09-28 Sold (Public Records) $120,000 Public Records
• 2015-09-24 Sold (MLS) $120,000 MRED as Distributed by MLS Grid
• 2015-09-08 Pending — MRED as Distributed by MLS Grid
• 2015-08-19 Contingent — MRED as Distributed by MLS Grid
• 2015-07-28 Listed $125,000 MRED as Distributed by MLS Grid
• 2008-07-26 Listing Removed — MRED as Distributed by MLS Grid
• 2007-11-07 Listed — MRED as Distributed by MLS Grid
• 2007-10-30 Listing Removed — MRED as Distributed by MLS Grid
• 2007-05-21 Listed — MRED as Distributed by MLS Grid

Property tax history

+5.9%/yr

Latest (2023): $2,623 · +5.2% YoY. Source: county tax records.