316 Lawrence Ave · Elgin, IL 60123

$500,000

20 bd · 25.0 ba · 2,634 sqft · MultiFamily · 21 Days on market

Built 1863 Good condition 8,712 sqft lot

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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 +4.2/5.0
• Condition / age +4.0/5.0
• Rent growth +3.4/5.0
• Schools +1.9/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 5 units. confirmed

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks

We are pleased to offer this 5 unit apartment building. The owners have several long term tenants. The building has a basement and 5 car garage. The roof was new about 2 year ago. Updated railings to apartments 4 & 5 in past few years. #5 was recently remodeled.

Key facts

• 8,712 sq ft lot
• Built 1863
• Listed 21 days

Property features AI

Finance

• Other: Possession available at closing; tenant rights apply
• Financial info: Total of 5 units; Building generates approximately $4,125 monthly ($49,500 annually) in gross income; Units produce rent ranges: several units at $950–$1,050/month and one at $700/month; Gross rent multiplier around 10.1; Reported annual expenses include water/sewer and electric and insurance (details available)

Exterior

• Parking: Outdoor parking spaces (1–5); Indoor parking spaces (1–5)
• Utilities: Separate electric meters; Water/sewer service (expenses reported separately)
• Home design: Multi-family building (5+ units); Individual ownership
• Construction: Frame construction; Composition roof with pitched roof structure
• Exterior features: Frontage on a city street; Lot dimensions approximately 66 x 132 (per county records); Zoned for multi-family

Interior

• Kitchen: Five ranges available (total in building)
• Bedrooms: Unit type A: 1 bedroom; Other unit types include studio/efficiency layouts
• Bathrooms: Multiple full bathrooms across units
• Heating & cooling: Steam heat
• Interior features: Leased units (tenancy by lease); Built before 1978
• Laundry & utility: Electric on separate meters

What this means for you Summary

Snapshot

• This is a 5 × 4-bed/5.0-bath units multifamily listed at $500k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $4k ($48k/yr) — positive. Per door: $794/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($9k rent vs $500k).
• Recommended offer: $492k (1.5% below list) — sets the bar for market timing.
• Cap rate 15.8% 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-, schools D-.
• 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.
• Market conditions: Rents rising (+3.7%/yr); 93 active listings in the ZIP; solid renter incomes; 1,944 units permitted in Kane County in 2024 (357 in 5+ unit buildings).
• At $9,402/mo this rent would consume 129% of the median local household income ($88k/yr) (locally 1119% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $15k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.7% rent growth), your $140k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 21 days — a 2% lower offer ($492k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1863 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $492,500 (1.5% below list)

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1863 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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: 1.88% ✓
• Cap rate: 15.83%
• Cash-on-cash: 34.05%
• DSCR: 2.51
• GRM: 4.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.69% rent growth · sell at horizon

5-year hold

• IRR: 30.2%
• Equity multiple: 2.28×
• Total profit: $178,683
• Equity at exit: $74,552

10-year hold

• IRR: 37.9%
• Equity multiple: 4.64×
• Total profit: $509,286
• Equity at exit: $43,231

Cash invested: $140,000 (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 60123

• Rents YoY: 3.7%
• Active inventory: 93
• Price-to-rent: 22.2×

Monthly cashflow live

• Estimated rent: $9,402 medium
• Mortgage (P&I): −$2,622
• Tax est. 1.5%: −$625 /mo · $7,500/yr
• Insurance: −$208
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,974
• Net cashflow: $3,972

Break-even live

Break-even rent $4,374

Max offer price $500,000

Occupancy floor 53%

5-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 5× units	4	5	$9,400
Total (5 units)			$9,402

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: $125,000
• Closing costs: $15,000
• Reserves months: —
• Total cash needed: —

Listing history 14 events

1. 2026-06-18
   days on market $500,000 Active 21 DOM
2. 2026-06-17
   days on market $500,000 Active 20 DOM
3. 2026-06-16
   days on market $500,000 Active 19 DOM
4. 2026-06-15
   days on market $500,000 Active 18 DOM
5. 2026-06-13
   days on market $500,000 Active 16 DOM
6. 2026-06-09
   days on market $500,000 Active 12 DOM
7. 2026-06-08
   days on market $500,000 Active 11 DOM
8. 2026-06-07
   days on market $500,000 Active 10 DOM
9. 2026-06-04
   days on market $500,000 Active 7 DOM
10. 2026-06-03
    days on market $500,000 Active 6 DOM
11. 2026-06-02
    days on market $500,000 Active 5 DOM
12. 2026-06-01
    days on market $500,000 Active 4 DOM
13. 2026-05-31
    days on market $500,000 Active 3 DOM
14. 2026-05-28
    listed $500,000 Active

ⓘ 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 ≥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: $112,824
• − Mortgage interest: −$28,008
• − Property taxes: −$7,500
• − Insurance: −$2,500
• − Repairs & maintenance: −$9,026
• − Management: −$9,026
• − Depreciation: −$14,545
• Taxable income: $42,219
• Est. tax owed @ 24.0%: −$10,133
• After-tax cash flow: $37,534/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 · 9 photos

Good 80/100 Cosmetic rehab

This 5-unit apartment building is in good condition with a new roof and well-maintained exterior. Minor updates to the exterior and interior, along with energy-efficient upgrades, would significantly enhance its value.

Value-add opportunities

• Both Paint exterior and interior — Fresh paint enhances curb appeal and interior aesthetics
• Both Replace carpet with hardwood or tile — Hardwood or tile flooring is more durable and adds value
• Both Install energy-efficient windows — New windows improve energy efficiency and reduce utility costs
• Both Upgrade HVAC system — A new HVAC system improves comfort and energy efficiency

Renovation cost estimate screening

Value-add ROI direction

• Both Paint exterior and interior — Fresh paint enhances curb appeal and interior aesthetics ↑
• Both Replace carpet with hardwood or tile — Hardwood or tile flooring is more durable and adds value ↑
• Both Install energy-efficient windows — New windows improve energy efficiency and reduce utility costs ↑
• Both Upgrade HVAC system — A new HVAC system improves comfort and energy efficiency ↑

ⓘ 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: 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

1 event — show timeline

• 2026-05-28 Listed $500,000 MRED as Distributed by MLS Grid