607 S George St · Mount Prospect, IL 60056

$425,000

4 bd · 1.5 ba · 2,121 sqft · SingleFamily public records · 1 Days on market

Built 1959 Est $530k · 20% under

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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).

• ARV discount +15.0/15.0
• Cash flow +12.4/30.0
• Livability +4.2/5.0
• Schools +3.9/10.0
• DSCR +3.7/10.0
• 1% rule +3.5/10.0
• Rent growth +2.8/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Fantastic opportunity to get into a large home that needs some updating! Older roof and original windows. Home is being sold "AS IS". More details to come. No showings at this time.

Key facts

• Garage
• Built 1959

Property features AI

Finance

• Other: Property parcel number 08124260040000; Directions: Council Trail East to George and South to home.
• HOA & community: No master association fee required

Exterior

• Parking: 1-car garage (owned)
• Home design: Detached single-family home; Split-level design; Built 61–70 years ago
• Construction: Built before 1978

Interior

• Bedrooms: 4 bedrooms (including master bedroom)
• Bathrooms: 2 full bathrooms
• Interior features: Dining room; Family room; Living room; Laundry room

What this means for you Summary

Snapshot

• This is a 4-bed/1.5-bath single-family listed at $425k.

Deal economics

• At list price, monthly cash flow is $-73 ($-882/yr) — negative.
• To cash-flow at today's rent, offer at most $414k (2.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $362k (14.7% below list).
• Recommended offer: $362k (14.7% below list) — sets the bar for 1% rule.
• Cap rate 6.1% vs local median 3.2% in Mount Prospect — 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 84/100 on livability (#32 in IL, #638 nationally) — a professional / high-income tenant draw. Strengths: crime A+, commute A+, employment A+; Watch: cost of living D+, health & safety D+.
• Township Hsd 214 (suburban): math 42% / reading 45% proficiency, ranked #103 of 620 in IL (top 17%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising (+1.3%/yr); 93 active listings in the ZIP; 13 comparable units currently listed for rent nearby; rentals leasing fast (median 1d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 6,272 units permitted in Cook County in 2024 (4,658 in 5+ unit buildings).
• This rent runs 43% of the median local income ($102k/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 $3k of loan paydown is wiped out by about $13k of value loss. Plan a longer hold.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1959 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $362,479 (14.7% 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 1959 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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: 0.85% ✗
• Cap rate: 6.09%
• Cash-on-cash: -0.74%
• DSCR: 0.97
• GRM: 9.8

CMA / ARV

• ARV (on-the-fly): $530,250
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
602 S Edward St	0.09mi	3/2.5 (-1)	2,335 (+10%)	2mo	$645,000	$276	68
316 S Mount Prospect Rd	0.38mi	4/2.0	2,000 (-6%)	5mo	$375,000	$188	67
304 Amherst Ave	0.41mi	3/3.0 (-1)	2,102 (-1%)	4mo	$525,000	$250	66
173 Cornell Ave	0.58mi	3/1.5 (-1)	2,156 (+2%)	3mo	$515,000	$239	63
713 S William St	0.24mi	3/2.0 (-1)	1,878 (-12%)	1mo	$551,000	$293	62
43 Inner Circle Dr	0.23mi	4/2.5	2,399 (+13%)	2mo	$540,000	$225	62
311 S Main St	0.70mi	4/2.0	2,021 (-5%)	4mo	$480,000	$238	54
407 E Berkshire Ln	0.31mi	3/2.0 (-1)	1,833 (-14%)	4mo	$545,000	$297	53
310 Harvard St	0.69mi	3/1.5 (-1)	2,300 (+8%)	1mo	$373,000	$162	48
245 Amherst Ave	0.45mi	3/3.0 (-1)	1,850 (-13%)	0mo	$465,000	$251	46
295 Ardmore Rd	0.67mi	3/2.0 (-1)	1,896 (-11%)	5mo	$533,000	$281	40
576 Amherst Ave	0.70mi	3/2.5 (-1)	2,344 (+10%)	3mo	$495,000	$211	39

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 · 1.28% rent growth · sell at horizon

5-year hold

• IRR: -19.5%
• Equity multiple: 0.33×
• Total profit: $-79,662
• Equity at exit: $63,369

10-year hold

• IRR: -16.2%
• Equity multiple: 0.16×
• Total profit: $-99,622
• Equity at exit: $36,746

Cash invested: $119,000 (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 60056

• Rents YoY: 1.3%
• Active inventory: 93
• Price-to-rent: 9.8×

Monthly cashflow live

• Estimated rent: $3,625 high
• Mortgage (P&I): −$2,229
• Tax est. 1.5%: −$531 /mo · $6,375/yr
• Insurance: −$177
• HOA: −$0
• Vacancy / Maint / Mgmt: −$761
• Net cashflow: $-73

Break-even live

Break-even rent $3,718

Max offer price $414,365

Occupancy floor 97%

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: $106,250
• Closing costs: $12,750
• Reserves months: —
• Total cash needed: —

Rent comps 13 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
445 E Lincoln St Mount Prospect, IL	3.0	1.5	1400	$2,700	$1.93	12d	1	0.37mi
318 E Lincoln St Unit 318 Mt Prospect, IL	3.0	2.5	1831	$4,695	$2.56	18d	1	0.44mi
314 E Lincoln St Unit 314 Mt Prospect, IL	3.0	2.5	1831	$4,695	$2.56	1d	1	0.45mi
308 E Lincoln St Unit 308 Mt Prospect, IL	3.0	2.5	1831	$4,595	$2.51	1d	1	0.46mi
320 S School St Mount Prospect, IL	3.0	2.5	2026	$4,595	$2.27	1d	3	0.47mi
317 S Emerson St Mount Prospect, IL	3.0	1.5	1404	$3,300	$2.35	24d	1	0.61mi
304 W Golf Rd Mt Prospect, IL	3.0	2.5	1574	$3,150	$2.00	1d	1	0.61mi
541 S Warrington Rd Des Plaines, IL	4.0	2.5	2100	$3,500	$1.67	1d	1	0.99mi
726 Hanbury Dr Des Plaines, IL	3.0	2.5	1700	$3,000	$1.76	11d	1	1.04mi
750 N Northwest Hwy Des Plaines, IL	3.0	1.0–2.0	1194	$3,885	$3.25	1d	12	1.07mi
321 W Prospect Ave Mt Prospect, IL	4.0	2.5	2520	$3,995	$1.59	1d	1	1.11mi
1001 E Callero Cir Unit 1 Mt Prospect, IL	3.0	2.0	1500	$2,600	$1.73	5d	1	1.13mi
402 N Main St Mount Prospect, IL	3.0	2.0	1590	$2,650	$1.67	21d	1	1.44mi

Listing history 2 events

1. 2026-06-17
   remarks 181-char remark
2. 2026-06-17
   listed $425,000 Coming Soon 1 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $43,497
• − Mortgage interest: −$23,807
• − Property taxes: −$6,375
• − Insurance: −$2,125
• − Repairs & maintenance: −$3,480
• − Management: −$3,480
• − Depreciation: −$12,364
• Taxable loss: −$8,132
• Est. tax savings @ 24.0%: +$1,952
• After-tax cash flow: $1,070/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: Township Hsd 214
• NCES district ID: 1704170
• Math proficiency: 42% ▼ -10.00%
• Reading proficiency: 45% ▼ -4.00%
• Median HH income: $68,267
• Composite: 39.13/100
• National rank: #4035
• State rank: #103 of 620 in IL

Livability — Mount Prospect

• Score: 84/100
• State rank: #32
• US rank: #638

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Mount Prospect, IL
• County: Cook County · 4,486,803 people
• City population: 55,818
• Metro: Chicago-Naperville-Elgin, IL-IN-WI
• Population (ZIP): 55,818
• Household income: $101,922
• Rent vs Own: 31.3% rent · 68.7% own
• Severe rent burden: 1485.0

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 0.55)
• Race & ethnicity: White 63% Hispanic / Latino 16% Asian 15% Two or more races 9% Black 3%
• Hispanic origin (detail): Mexican 13% Puerto Rican 1%
• Common ancestry: Romanian 14% French 2% Italian 1%
• Foreign-born: 30% · Canada, South Korea, China
• Languages at home: 57% English-only · Spanish 12% Russian/Polish/Slavic 12% Other Indo-European 7%

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: ▼ -325.14%
• Current HPI: 202.4367
• Rent YoY: ▲ 1.28%
• 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