2650 Brookwood Way Dr #223 · Rolling Meadows, IL 60008

$220,000

2 bd · 2.0 ba · 1,000 sqft · Condo · 5 Days on market

Built 1978 Good condition $355/mo HOA · 15% 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 +11.9/30.0
• ARV discount +7.5/15.0
• 1% rule +5.5/10.0
• Schools +4.0/10.0
• Condition / age +4.0/5.0
• Livability +3.9/5.0
• DSCR +3.5/10.0
• Rent growth +2.1/5.0
• Appreciation +0.0/10.0

Listing remarks

Spacious corner-unit condo featuring 2 bedrooms and 2 full bathrooms. This beautifully updated home offers wood flooring throughout, a modern kitchen with granite countertops and a backsplash, newer windows, and renovated bathrooms. Conveniently located with easy access to Route 53, I-90, and Metra stations, making commuting a breeze. Enjoy being just minutes from Woodfield Mall, shopping, dining, and entertainment in Schaumburg. Located within the highly sought-after Fremd High School District. A great opportunity to own a move-in-ready home in a prime location! The building has an elevator. Laundry room and storage are in the same floor. Owner can rent.

Key facts

• $355 HOA
• 2 parking spots
• Community pool

Property features AI

Finance

• Other: Building contains about 50 units; Not currently leased
• Financial info: No special service area
• HOA & community: Monthly association fee of $355; Association covers water, parking, insurance, security, pool, exterior maintenance, lawn care, trash removal, and snow removal; Manager off-site; Association amenities include bike access/trails, coin laundry, storage, pool, and security door locks; Pets allowed (cats and dogs) with max pet weight ~40 lbs

Exterior

• Parking: Two parking spaces; Asphalt surface, unassigned parking
• Security: Security door locks (association amenity)
• Utilities: Lake Michigan water supply; Public sewer; Electric with circuit breakers
• Home design: Attached single condo; Entry is on level 2; Estimated living area; Age approximately 41–50 years
• Construction: Brick construction; Concrete perimeter foundation
• Exterior features: Common lot/dimensions; School bus service; Interstate access

Interior

• Kitchen: Galley kitchen on main level (8 x 12); Range; Microwave; Dishwasher; Refrigerator; Garbage disposal
• Bedrooms: Master bedroom on main level (12 x 15) with full bath access; Second bedroom on main level (12 x 13); Two additional bedrooms noted
• Flooring: Wood laminate flooring in living areas and bedrooms
• Bathrooms: Two full bathrooms
• Heating & cooling: Electric heating; Central air conditioning
• Interior features: Five total rooms; L-shaped dining area; Window blinds throughout
• Laundry & utility: Dedicated laundry room

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $220k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-124 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $202k (8.2% below list).
• Meets the 1% rule at list price ($2k rent vs $220k).
• Recommended offer: $202k (8.2% below list) — sets the bar for cash-flow.
• Cap rate 6.0% vs local median 3.7% in Rolling Meadows — 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 77/100 on livability (#162 in IL, #2,994 nationally) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, crime A; Watch: health & safety C-, amenities F.
• Township Hsd 211 (urban): math 45% / reading 43% proficiency, ranked #89 of 620 in IL (top 14%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Wm Fremd High School (math 59% / reading 61%, grade C+, #18 of 693 statewide, top 3%, 2,708 students, 0% FRL).
• Zoned-school proficiency averages 60% at this address vs 44% district-wide (+16 pts) — the actual schools serving this property are materially stronger than the Township Hsd 211 average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: Rents soft (-1.4%/yr); 43 active listings in the ZIP; 19 comparable units currently listed for rent nearby; rentals at typical pace (median 17d 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 $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.

Negotiation context

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $202,055 (8.2% 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 1978 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. 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?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 1.05% ✓
• Cap rate: 5.98%
• Cash-on-cash: -1.12%
• DSCR: 0.95
• GRM: 8.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -24.6%
• Equity multiple: 0.19×
• Total profit: $-49,998
• Equity at exit: $32,803

10-year hold

• IRR: -38.5%
• Equity multiple: -0.28×
• Total profit: $-78,575
• Equity at exit: $19,022

Cash invested: $61,600 (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 60008

• Rents YoY: -1.4%
• Active inventory: 43
• Price-to-rent: 8.0×

Monthly cashflow live

• Estimated rent: $2,301 high
• Mortgage (P&I): −$1,154
• Tax est. 1.5%: −$275 /mo · $3,300/yr
• Insurance: −$92
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$355
• Vacancy / Maint / Mgmt: −$483
• Net cashflow: $-124

Break-even live

Break-even rent $2,458

Max offer price $202,055

Occupancy floor —

Sensitivity live

Price	-10% $28	-5% $-48	+0% $-124	+5% $-200	+10% $-276
Rent	-10% $-306	-5% $-215	+0% $-124	+5% $-33	+10% $58
Rate	-1.0pp $-13	-0.5pp $-68	base $-124	+0.5pp $-181	+1.0pp $-239

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: $55,000
• Closing costs: $6,600
• Reserves months: —
• Total cash needed: —

Rent comps 19 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3265 Kirchoff Rd #215 Rolling Meadows, IL	2.0	2.0	1000	$2,000	$2.00	19d	1	0.59mi
4424 Euclid Ave Unit 1A Rolling Meadows, IL	2.0	1.5	900	$2,000	$2.22	18d	1	0.66mi
3401 W Payton Pl Arlington Heights, IL	3.0	1.0–2.0	1018	$3,221	$3.16	0d	21	0.67mi
3400 W Stonegate Blvd Arlington Heights, IL	1.0	1.0	961	$2,531	$2.63	23d	1	0.69mi
3609 Bobwhite Ln Rolling Meadows, IL	3.0	1.0	1017	$2,850	$2.80	11d	1	0.72mi
1048 S Plum Grove Rd Palatine, IL	3.0	1.0	1200	$2,900	$2.42	26d	1	0.90mi
4400 W Euclid Ave Palatine, IL	2.0	2.0	1000	$2,000	$2.00	26d	1	1.04mi
1220 E Algonquin Rd Schaumburg, IL	1.0–2.0	1.0–2.0	980	$2,035	$2.08	0d	5	1.11mi
2606 Grouse Ln Rolling Meadows, IL	3.0	1.0	1055	$2,600	$2.46	0d	1	1.22mi
2500 Brush Rd Schaumburg, IL	1.0–2.0	1.0–2.0	911	$2,450	$2.69	26d	1	1.26mi
1919 Prairie Sq Schaumburg, IL	2.0	2.0	960	$2,075	$2.16	4d	2	1.28mi
1926 Prairie Sq Schaumburg, IL	1.0	1.0	775	$1,560	$2.01	20d	1	1.28mi
2450 Plum Grove Rd Schaumburg, IL	1.0–2.0	1.0–3.0	1014	$3,530	$3.48	26d	1	1.29mi
920 Casey Ct #5 Schaumburg, IL	2.0	1.5	800	$1,750	$2.19	4d	1	1.33mi
920 Casey Ct #4 Schaumburg, IL	2.0	1.5	1000	$1,650	$1.65	11d	1	1.33mi
507 W Parkside Dr Palatine, IL	3.0	2.0	1500	$3,000	$2.00	16d	1	1.35mi
1266 S Parkside Dr Unit 1 Palatine, IL	2.0	2.5	1300	$2,400	$1.85	16d	1	1.39mi
801 Belinder Ln Schaumburg, IL	1.0–2.0	1.0–2.0	747	$2,430	$3.25	0d	41	1.45mi
4700 Arbor Dr Rolling Meadows, IL	1.0–3.0	1.0–2.0	1050	$1,938	$1.85	3d	20	1.49mi

HOA detail condo

• Monthly dues: $355 · $4,260/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 4 events

1. 2026-06-21
   days on market $220,000 Active 5 DOM
2. 2026-06-18
   remarks 663-char remark
3. 2026-06-18
   days on market $220,000 Active 2 DOM
4. 2026-06-17
   listed $220,000 Active 1 DOM

ⓘ 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 7/10 Severe FEMA zone X (unshaded) · 76% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥100°F today · 14 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $27,612
• − Mortgage interest: −$12,323
• − Property taxes: −$3,300
• − Insurance: −$1,898
• − Repairs & maintenance: −$2,209
• − Management: −$2,209
• − HOA: −$4,260
• − Depreciation: −$6,400
• Taxable loss: −$4,987
• Est. tax savings @ 24.0%: +$1,197
• After-tax cash flow: $-291/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.

Condition & rehab AI · 12 photos

Good 80/100 Cosmetic rehab

This move-in-ready townhouse in a prime location offers modern updates and a well-maintained exterior. Potential buyers and renters will appreciate the fresh paint and landscaping improvements.

Value-add opportunities

• Both Painting exterior and interior walls — Fresh paint can enhance curb appeal and interior aesthetics
• Both Landscaping improvements — Enhanced landscaping can increase curb appeal and property value
• Both Add smart home features — Smart home features can increase property value and attract tech-savvy buyers

Renovation cost estimate screening

Value-add ROI direction

• Both Painting exterior and interior walls — Fresh paint can enhance curb appeal and interior aesthetics ↑
• Both Landscaping improvements — Enhanced landscaping can increase curb appeal and property value ↑
• Both Add smart home features — Smart home features can increase property value and attract tech-savvy buyers ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Township Hsd 211
• NCES district ID: 1730450
• Math proficiency: 45% ▼ -8.00%
• Reading proficiency: 43% ▼ -4.00%
• Median HH income: $72,942
• Composite: 40.02/100
• National rank: #3824
• State rank: #89 of 620 in IL

Livability — Rolling Meadows

• Score: 77/100
• State rank: #162
• US rank: #2994

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Rolling Meadows, IL
• County: Cook County · 4,486,803 people
• City population: 22,800
• Metro: Chicago-Naperville-Elgin, IL-IN-WI
• Population (ZIP): 22,800
• Household income: $94,336
• Rent vs Own: 29.2% rent · 70.8% own
• Severe rent burden: 736.0

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 0.60)
• Race & ethnicity: White 54% Hispanic / Latino 31% Two or more races 13% Asian 9% Black 4%
• Hispanic origin (detail): Mexican 24% Puerto Rican 1%
• Common ancestry: Romanian 10% Italian 2% Portuguese 2%
• Foreign-born: 27% · Canada, South Korea, China
• Languages at home: 56% English-only · Spanish 25% Russian/Polish/Slavic 7% Other Indo-European 4%

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: ▼ -218.62%
• Current HPI: 214.0901
• Rent YoY: ▼ -1.43%
• 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

1 event — show timeline

• 2026-06-16 Listed $220,000 MRED as Distributed by MLS Grid