618 Washburn St · Elgin, IL 60123

$214,999

3 bd · 1.0 ba · 1,727 sqft · SingleFamily · 7 Days on market

Built 1910 8,712 sqft lot Est $295k · 27% under

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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 +21.5/30.0
• ARV discount +15.0/15.0
• DSCR +6.9/10.0
• 1% rule +5.9/10.0
• Livability +4.2/5.0
• Rent growth +3.4/5.0
• Condition / age +2.5/5.0
• Schools +1.9/10.0
• Appreciation +0.0/10.0

Listing remarks

Charming 3-bedroom home located on a quiet, tree-lined street in Elgin! The home offers endless potential for buyers looking to add their own personal touches and updates over time. The functional floor plan features beautiful hardwood flooring throughout much of the main level, creating warmth and character from the moment you enter. The first floor bedroom is being used as an office. Enjoy relaxing mornings or evenings on the inviting front porch, the perfect place to unwind and enjoy the neighborhood. The home offers three bedrooms. The first floor bedroom is being used as an office, one full bath, and additional space in the basement with the potential to add a second bathroom. The base

Key facts

• Hardwood flooring
• Heated 2-car garage
• Front porch

Tags

• HARDWOOD FLOORING
• FRONT PORCH
• RECESSED JACUZZI TUB
• HEATED 2-CAR GARAGE
• POTENTIAL TO ADD BATHROOM

Property features AI

Finance

• Other: Parcel number available
• HOA & community: No master association required

Exterior

• Parking: Detached heated garage; Asphalt driveway; Two garage spaces (two parking spaces total)
• Utilities: Lake Michigan water source; Public sewer; Electric service available
• Home design: Detached single-family home; Two stories; Fee simple ownership; Home is over 100 years old; Built before 1978
• Construction: Wood siding; Approximately 970 finished square feet reported; Total finished/unfinshed area reported (1,727); Unfinished lower level reported
• Exterior features: Lot dimensions about 66 x 132; Less than 0.25 acre lot; School bus service

Interior

• Kitchen: Kitchen on main level (approx. 13 x 12)
• Bedrooms: Three bedrooms total; Primary bedroom on second floor (approx. 16 x 11); Second bedroom on second floor (approx. 13 x 12); Third bedroom on main level (approx. 12 x 7)
• Flooring: Hardwood flooring in living room and dining room
• Bathrooms: One full bathroom
• Heating & cooling: Natural gas heating; Central air conditioning
• Interior features: Six total rooms; Partially finished full basement; Separate dining room
• Laundry & utility: Basement laundry room (approx. 12 x 9)

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $215k.

Deal economics

• At list price, monthly cash flow is $322 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $215k).
• Cap rate 8.1% vs local median 3.4% in Elgin — 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 (#47 in IL, #975 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, housing A+; Watch: health & safety C-.
• SD U-46 (suburban): math 19% / reading 20% proficiency, ranked #386 of 620 in IL (top 62%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Lowrie Elem School (math 2% / reading 2%, grade F, #1,927 of 2,056 statewide, top 100%, 422 students, 0% FRL); Abbott Middle School (math 5% / reading 10%, grade F, #612 of 665 statewide, top 93%, 551 students, 0% FRL); Larkin High School (math 10% / reading 13%, grade F, #520 of 693 statewide, top 75%, 2,264 students, 0% FRL) — zoned schools average 0% FRL vs 52% district-wide (52 pts lower); this property's tenant base skews higher-income than the district average.
• Zoned-school proficiency averages 7% at this address vs 20% district-wide (-12 pts) — the specific schools serving this property underperform the SD U-46 average; the district grade overstates school quality for this exact location.
• Market conditions: Rents rising (+3.7%/yr); 89 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 71% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 1,944 units permitted in Kane County in 2024 (357 in 5+ unit buildings).
• This rent runs 32% of the median local income ($88k/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 $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $110k; list at $215k implies a 95% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $214,999

Questions for the listing agent

1. Built in 1910 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 1.09% ✓
• Cap rate: 8.09%
• Cash-on-cash: 6.42%
• DSCR: 1.29
• GRM: 7.7

CMA / ARV

• ARV (on-the-fly): $295,317
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
455 Walnut Ave	0.25mi	3/1.0	1,671 (-3%)	4mo	$145,000	$87	80
552 Walnut Ave	0.15mi	3/1.0	1,600 (-7%)	2mo	$215,000	$134	79
363 Orchard St	0.13mi	4/1.5 (+1)	1,776 (+3%)	7mo	$279,900	$158	76
853 Orange St	0.39mi	3/2.0	1,683 (-2%)	1mo	$360,000	$214	73
761 South St	0.25mi	3/2.5	1,814 (+5%)	2mo	$340,000	$187	72
44 Monroe St	0.69mi	3/1.5	1,720 (-0%)	3mo	$285,000	$166	63
212 Jewett St	0.22mi	4/2.5 (+1)	1,534 (-11%)	0mo	$210,000	$137	60
402 Orange St	0.33mi	3/2.0	1,554 (-10%)	6mo	$259,700	$167	59
118 Wilcox Ave	0.38mi	3/1.5	1,512 (-12%)	2mo	$258,000	$171	58
18 N Worth Ave	0.71mi	2/2.0 (-1)	1,666 (-4%)	0mo	$310,000	$186	52
447 Ashland Ave	0.72mi	4/1.5 (+1)	1,648 (-5%)	0mo	$285,000	$173	51
371 S Edison Ave	0.53mi	4/2.0 (+1)	1,596 (-8%)	4mo	$290,000	$182	50

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 · 3.69% rent growth · sell at horizon

5-year hold

• IRR: -5.6%
• Equity multiple: 0.79×
• Total profit: $-12,634
• Equity at exit: $32,057

10-year hold

• IRR: 4.9%
• Equity multiple: 1.37×
• Total profit: $22,435
• Equity at exit: $18,589

Cash invested: $60,200 (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 60123

• Rents YoY: 3.7%
• Active inventory: 89
• Price-to-rent: 7.7×

Monthly cashflow live

• Estimated rent: $2,333 high
• Mortgage (P&I): −$1,127
• Tax from tax record: −$304 /mo · $3,647/yr
• Insurance: −$90
• HOA: −$0
• Vacancy / Maint / Mgmt: −$490
• Net cashflow: $322

Break-even live

Break-even rent $1,925

Max offer price $214,999

Occupancy floor 81%

Sensitivity live

Price	-10% $444	-5% $383	+0% $322	+5% $261	+10% $200
Rent	-10% $138	-5% $230	+0% $322	+5% $414	+10% $506
Rate	-1.0pp $430	-0.5pp $377	base $322	+0.5pp $266	+1.0pp $210

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: $53,750
• Closing costs: $6,450
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
261 Orchard St Elgin, IL	2.0	1.0	1200	$2,750	$2.29	44d	1	0.22mi
202 Perry St Unit 1 Elgin, IL	3.0	1.5	1100	$2,000	$1.82	44d	1	0.38mi
276 Morgan St Unit 1 Elgin, IL	2.0	1.0	1200	$1,800	$1.50	11d	1	0.47mi
52 N Crystal St Elgin, IL	2.0	1.0	1200	$1,895	$1.58	25d	1	0.74mi
50 S Grove Ave Elgin, IL	1.0–3.0	1.0–2.0	1563	$3,100	$1.98	44d	3	0.82mi
162 Festival Ct Elgin, IL	2.0	2.5	1875	$2,700	$1.44	44d	1	0.83mi
371 Fulton St Unit 2 Elgin, IL	3.0	1.0	1600	$2,750	$1.72	44d	1	1.03mi

Listing history 6 events

1. 2026-06-21
   statusdays on market $214,999 Contingent - No Showings 7 DOM
2. 2026-06-18
   days on market $214,999 Active 4 DOM
3. 2026-06-17
   days on market $214,999 Active 3 DOM
4. 2026-06-16
   days on market $214,999 Active 2 DOM
5. 2026-06-15
   remarks 699-char remark
6. 2026-06-15
   listed $214,999 Active 1 DOM

ⓘ 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: $3,647 · $304/mo
• Projected year-2 tax: $4,264 · $355/mo
• Expected delta: +$617/yr (+$51/mo · 16.9%)

ⓘ 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 3/10 Moderate 7 d/yr ≥102°F today · 14 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 0% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $27,997
• − Mortgage interest: −$12,043
• − Property taxes: −$3,647
• − Insurance: −$1,075
• − Repairs & maintenance: −$2,240
• − Management: −$2,240
• − Depreciation: −$6,255
• Taxable income: $497
• Est. tax owed @ 24.0%: −$119
• After-tax cash flow: $3,746/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: SD U-46
• NCES district ID: 1713710
• Math proficiency: 19% ▼ -7.00%
• Reading proficiency: 20% ▼ -7.00%
• Median HH income: $69,757
• Composite: 19.39/100
• National rank: #8783
• State rank: #386 of 620 in IL

Livability — Elgin

• Score: 83/100
• State rank: #47
• US rank: #975

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Elgin, IL
• County: Kane County · 361,735 people
• City population: 124,091
• Metro: Chicago-Naperville-Elgin, IL-IN-WI
• Population (ZIP): 48,379
• Household income: $87,693
• Rent vs Own: 27.2% rent · 72.8% own
• Severe rent burden: 1119.0

Population outlook (Kane County) Hauer SSP2

• Today (2025): 559,449 people
• By 2030: 568,757 · +1.7%
• By 2040: 575,969 · +3.0%
• By 2050: 563,477 · +0.7%
• By 2075: 492,321 · -12.0%
• By 2100: 380,943 · -31.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.63)
• Race & ethnicity: Hispanic / Latino 47% White 38% Two or more races 17% Black 6% Asian 5% Native American 1%
• Hispanic origin (detail): Mexican 38% Puerto Rican 4%
• Common ancestry: Romanian 5% Italian 2% Slovak 1%
• Foreign-born: 23% · Canada, Jamaica
• Languages at home: 57% English-only · Spanish 38% Other Asian/Pacific 1% Other Indo-European 1%

Political lean MEDSL · Kane

• 2024 margin: Lean D (+9.4) · D 54.0% · R 44.6% · Other 1.4%
• 2008→2024 swing: -2.4pp toward R · 2008: 11.8pp · 2024: 9.4pp
• All cycles: 2024: D+9.4 2020: D+14.4 2016: D+8.9 2012: D+0.9 2008: D+11.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -140.80%
• Current HPI: 226.0713
• Rent YoY: ▲ 3.69%
• 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

+95.5% since first listed

2 events — show timeline

• 2026-06-13 Listed $214,999 MRED as Distributed by MLS Grid
• 2013-06-20 Sold (Public Records) $110,000 Public Records

Property tax history

+0.2%/yr

Latest (2025): $3,647 · +5.0% YoY. Source: county tax records.