78 Pine Ave · Riverside, IL 60546

$1,049,000

8 bd · 5.0 ba · 3,376 sqft · MultiFamily public records · 41 Days on market

Built 1888 0.30 ac lot Est $979k · 7% over

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Why this score? — see what drove the F 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 +7.6/30.0
• Schools +5.0/10.0
• Livability +4.4/5.0
• ARV discount +4.3/15.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +2.2/10.0
• DSCR +1.7/10.0
• 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

Stunning Victorian landmark gut-rehabbed into a modern 5-unit income-producing property in the heart of historic Riverside, walking distance to downtown and the Metra station. Turnkey investment with five fully occupied units generating immediate cash flow. Fully updated electrical and plumbing systems to current code, central air in each unit, and new energy-efficient windows throughout. Interiors feature modern kitchens and baths with stainless steel appliances, quartz countertops, luxury vinyl plank flooring, and high ceilings. Amenities include a 2-car garage plus multiple rear parking spaces, dedicated parking and large storage room for each unit, and on-site commercial laundry in the

Key facts

• Quartz countertops
• Modern kitchens
• Fully occupied units

Tags

• FULLY OCCUPIED UNITS
• CENTRAL AIR IN EACH UNIT
• ENERGY-EFFICIENT WINDOWS
• MODERN KITCHENS
• STAINLESS STEEL APPLIANCES
• QUARTZ COUNTERTOPS

What this means for you Summary

Snapshot

• This is a 5 × 2-bed/1.0-bath units multifamily listed at $1.05M.

Deal economics

• At list price, monthly cash flow is $-1k ($-15k/yr) — negative. Per door: $-253/mo.
• To cash-flow at today's rent, offer at most $826k (21.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $757k (27.8% below list).
• Recommended offer: $757k (27.8% below list) — sets the bar for 1% rule.
• Cap rate 4.8% vs local median 1.2% in Riverside — 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 88/100 on livability (#9 in IL, #241 nationally) — a professional / high-income tenant draw. Strengths: schools A+, crime A+, commute A+; Watch: cost of living F.
• Market conditions: High-income renter base; 6,272 units permitted in Cook County in 2024 (4,658 in 5+ unit buildings).
• At $7,572/mo this rent would consume 80% of the median local household income ($114k/yr) (locally 344% 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 $7k of loan paydown is wiped out by about $31k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 41 days — a 3% lower offer ($1.02M) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 5y 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 $221k; list at $1.05M implies a 375% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1888 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $757,200 (27.8% 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. It's been on market 41 days. Have you received any prior offers? Is the seller open to a 28% concession, seller financing, or rate buy-down credit?
3. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
4. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
5. Built in 1888 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. 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.
10. 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.
11. 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: 0.72% ✗
• Cap rate: 4.85%
• Cash-on-cash: -5.16%
• DSCR: 0.77
• GRM: 11.5

CMA / ARV

• ARV (on-the-fly): $979,040
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
78 Pine Ave	0.00mi	9/5.0 (+1)	3,804 (+13%)	1mo	$1,102,000	$290	73

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -25.1%
• Equity multiple: 0.15×
• Total profit: $-250,286
• Equity at exit: $156,409

10-year hold

• IRR: -21.0%
• Equity multiple: -0.09×
• Total profit: $-321,038
• Equity at exit: $90,698

Cash invested: $293,720 (down + closing). Projections, not guarantees.

Monthly cashflow live

• Estimated rent: $7,572 high
• Mortgage (P&I): −$5,501
• Tax from tax record: −$1,306 /mo · $15,676/yr
• Insurance: −$437
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,590
• Net cashflow: $-1,263

Break-even live

Break-even rent $9,170

Max offer price $825,962

Occupancy floor —

Sensitivity live

Price	-10% $-669	-5% $-966	+0% $-1,263	+5% $-1,559	+10% $-1,856
Rent	-10% $-1,861	-5% $-1,562	+0% $-1,263	+5% $-963	+10% $-664
Rate	-1.0pp $-734	-0.5pp $-996	base $-1,263	+0.5pp $-1,534	+1.0pp $-1,811

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

Units	Beds	Baths	Est. rent
▸ 5× units	2	1	$7,570
Total (5 units)			$7,572

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: $262,250
• Closing costs: $31,470
• Reserves months: —
• Total cash needed: —

Listing history 14 events

1. 2026-03-19
   status Pending
2. 2026-02-05
   listed $1,049,000 Active
3. 2026-02-04
   historical
4. 2026-01-21
   status Active
5. 2026-01-20
   historical
6. 2025-09-30
   listed Active
7. 2025-09-30
   historical
8. 2025-09-02
   listed Active
9. 2021-08-05
   soldstatus $221,000
10. 2021-06-15
    soldstatus $221,000 Closed Sale
11. 2021-06-02
    status Contingent
12. 2021-06-01
    historical
13. 2021-05-28
    listed $219,000 New
14. 2021-05-28
    listed New

ⓘ 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: $15,676 · $1,306/mo
• Projected year-2 tax: $19,744 · $1,645/mo
• Expected delta: +$4,068/yr (+$339/mo · 26.0%)

ⓘ 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 ≥100°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 0% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 3 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $90,864
• − Mortgage interest: −$58,760
• − Property taxes: −$15,676
• − Insurance: −$5,245
• − Repairs & maintenance: −$7,269
• − Management: −$7,269
• − Depreciation: −$30,516
• Taxable loss: −$33,871
• Est. tax savings @ 24.0%: +$8,129
• After-tax cash flow: $-7,022/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)

No district data.

Livability — Riverside

• Score: 88/100
• State rank: #9
• US rank: #241

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Riverside, IL
• County: Cook County · 4,486,803 people
• City population: 16,322
• Metro: Chicago-Naperville-Elgin, IL-IN-WI
• Population (ZIP): 16,322
• Household income: $113,533
• Rent vs Own: 23.3% rent · 76.7% own
• Severe rent burden: 344.0

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: Majority White (63%)
• Race & ethnicity: White 63% Hispanic / Latino 29% Two or more races 16% Black 4% Asian 2% Native American 1%
• Hispanic origin (detail): Mexican 25%
• Common ancestry: Romanian 9% Italian 3% Slovak 2%
• Foreign-born: 11% · Canada, Jamaica
• Languages at home: 72% English-only · Spanish 24% Other Indo-European 3% Russian/Polish/Slavic 1%

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: ▼ -187.92%
• Current HPI: 188.9468
• Rent YoY: —
• 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

+379.0% since first listed

14 events — show timeline

• 2026-03-19 Pending — MRED as Distributed by MLS Grid
• 2026-02-05 Listed $1,049,000 MRED as Distributed by MLS Grid
• 2026-02-04 Listing Removed — MRED as Distributed by MLS Grid
• 2026-01-21 Relisted — MRED as Distributed by MLS Grid
• 2026-01-20 Listing Removed — MRED as Distributed by MLS Grid
• 2025-09-30 Listing Removed — MRED as Distributed by MLS Grid
• 2025-09-30 Listed — MRED as Distributed by MLS Grid
• 2025-09-02 Listed — MRED as Distributed by MLS Grid
• 2021-08-05 Sold (Public Records) $221,000 Public Records
• 2021-06-15 Sold (MLS) $221,000 MRED as Distributed by MLS Grid
• 2021-06-02 Pending — MRED as Distributed by MLS Grid
• 2021-06-01 Listing Removed — MRED as Distributed by MLS Grid
• 2021-05-28 Listed — MRED as Distributed by MLS Grid
• 2021-05-28 Listed $219,000 MRED as Distributed by MLS Grid

Property tax history

+3.4%/yr

Latest (2023): $15,676 · +26.5% YoY. Source: county tax records.