2131 N 76th Ct · Elmwood Park, IL 60707

$298,000

3 bd · 1.5 ba · 1,557 sqft · SingleFamily public records · 46 Days on market

Built 1929 4,250 sqft lot $191/sqft · 29% below area Est $418k · 29% 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 +16.5/30.0
• ARV discount +15.0/15.0
• 1% rule +5.5/10.0
• DSCR +5.1/10.0
• Rent growth +4.3/5.0
• Livability +4.2/5.0
• Condition / age +2.5/5.0
• Schools +1.9/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

First time on the market in decades, this spacious bungalow sits in a prime pocket of Elmwood Park just four blocks east of Oak Park Country Club. This well-built home offers incredible potential with three levels of living space, generous room sizes, and solid construction throughout-truly a property with great bones ready for its next chapter. Originally configured for multi-generational living, the home currently features multiple kitchens and baths. The Village requires deconversion back to a single-family residence, presenting a unique opportunity for investors, rehabbers, or buyers looking to customize a large home to their vision. Being sold as-is. Exceptional value for those ready to bring this property back to life in a highly desirable location.

Key facts

• Spacious bungalow
• Multiple kitchens
• Multiple baths

Tags

• SPACIOUS BUNGALOW
• THREE LEVELS OF LIVING SPACE
• MULTIPLE KITCHENS
• MULTIPLE BATHS
• HIGHLY DESIRABLE LOCATION

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $298k.

Deal economics

• At list price, monthly cash flow is $175 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $298k).
• Recommended offer: $289k (3.0% below list) — sets the bar for market timing.
• Cap rate 7.0% vs local median 4.4% in Elmwood Park — 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 (#41 in IL, #865 nationally) — a professional / high-income tenant draw. Strengths: commute A+, housing A+, crime A-; Watch: schools D+.
• Elmwood Park CUSD 401 (suburban): math 15% / reading 26% proficiency, ranked #403 of 620 in IL (top 65%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: Rents rising fast (+7.2%/yr); 58 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 25d 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).
• This rent runs 44% of the median local income ($85k/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 $2k of loan paydown is wiped out by about $9k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 46 days — a 3% lower offer ($289k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 8y ago; this cycle's ask has dropped $27k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $130k; list at $298k implies a 129% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1929 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $289,060 (3.0% below list)

Questions for the listing agent

1. It's been on market 46 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1929 — 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. 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?
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: 1.05% ✓
• Cap rate: 7.00%
• Cash-on-cash: 2.51%
• DSCR: 1.11
• GRM: 8.0

CMA / ARV

• ARV (median comp): $417,631
• List price: $298,000
• Delta: -28.65%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2131 N 76th Ct	0.00mi	4/3.0 (+1)	1,557 (0%)	1mo	$287,000	$184	88
2034 N 75th Ave	0.20mi	3/2.0	1,505 (-3%)	1mo	$405,500	$269	82
1838 N 74th Ave	0.47mi	3/1.0	1,520 (-2%)	2mo	$375,000	$247	70
1928 N 72nd Ct	0.55mi	3/2.0	1,497 (-4%)	1mo	$340,000	$227	66
2301 N 74th Ct	0.31mi	3/2.0	1,342 (-14%)	1mo	$277,500	$207	59
2412 N West Brook Rd	0.53mi	3/1.5	1,703 (+9%)	1mo	$418,950	$246	59
2546 Webster St	0.69mi	2/2.0 (-1)	1,517 (-3%)	2mo	$315,000	$208	55
1704 N 78th Ave	0.62mi	3/1.5	1,406 (-10%)	1mo	$354,500	$252	54
1841 N 76th Ave	0.37mi	3/2.5	1,326 (-15%)	2mo	$540,000	$407	53
1724 N 77th Ct	0.55mi	3/2.5	1,724 (+11%)	3mo	$480,000	$278	50
1622 N 75th Ave	0.67mi	4/2.5 (+1)	1,700 (+9%)	0mo	$526,000	$309	44
2516 N 72nd Ct	0.67mi	4/2.0 (+1)	1,387 (-11%)	2mo	$180,000	$130	42

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 · 7.21% rent growth · sell at horizon

5-year hold

• IRR: -7.2%
• Equity multiple: 0.72×
• Total profit: $-23,184
• Equity at exit: $44,433

10-year hold

• IRR: 7.4%
• Equity multiple: 1.68×
• Total profit: $56,620
• Equity at exit: $25,766

Cash invested: $83,440 (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 60707

• Rents YoY: 7.2%
• Active inventory: 58
• Price-to-rent: 8.0×

Monthly cashflow live

• Estimated rent: $3,122 high
• Mortgage (P&I): −$1,563
• Tax from tax record: −$605 /mo · $7,257/yr
• Insurance: −$124
• HOA: −$0
• Vacancy / Maint / Mgmt: −$656
• Net cashflow: $175

Break-even live

Break-even rent $2,901

Max offer price $298,000

Occupancy floor 89%

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: $74,500
• Closing costs: $8,940
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2442 N 77th Ct Unit 2 Elmwood Park, IL	3.0	1.5	2000	$2,509	$1.25	44d	1	0.43mi
7353 W Grand Ave Elmwood Park, IL	2.0	2.0	1190	$2,650	$2.23	25d	1	0.50mi
2327 73rd Ave Unit 1 Elmwood Park, IL	3.0	1.5	1150	$2,250	$1.96	44d	1	0.51mi
2530 N 74th Ave #3 Elmwood Park, IL	3.0	2.0	1800	$2,500	$1.39	21d	1	0.59mi
20 Conti Pkwy #302 Chicago, IL	2.0	2.0	1450	$2,525	$1.74	18d	1	0.59mi
20 Conti Pkwy #401 Chicago, IL	2.0	2.0	1500	$2,550	$1.70	44d	1	0.59mi
20 Conti Pkwy Unit 101 Chicago, IL	2.0	2.0	1500	$2,575	$1.72	18d	1	0.59mi
7659 W Sunset Dr Elmwood Park, IL	4.0	3.0	1600	$3,400	$2.12	25d	1	0.66mi
2534 N Harlem Ave Unit 303 Elmwood Park, IL	2.0	2.0	1425	$2,200	$1.54	44d	1	0.75mi
2702 N 74th Ave Unit 2 Elmwood Park, IL	3.0	1.5	1400	$2,750	$1.96	25d	1	0.76mi
2805 N 75th Ct Unit 3A Elmwood Park, IL	2.0	2.0	1050	$2,400	$2.29	44d	1	0.83mi
2807 N 74th Ct Elmwood Park, IL	2.0	1.5	1260	$1,975	$1.57	44d	1	0.87mi
1619 N Neva Ave Chicago, IL	1.0–3.0	1.0–2.5	1654	$4,376	$2.64	2d	41	0.95mi
8000 Oconnor Dr River Grove, IL	1.0–2.0	1.5–2.0	1167	$3,340	$2.86	1d	1	1.16mi
8020 Oconnor Dr #207 River Grove, IL	2.0	2.0	1234	$3,550	$2.88	25d	1	1.16mi
8020 Oconnor Dr #101 River Grove, IL	2.0	2.0	1234	$3,350	$2.71	25d	1	1.16mi
8020 Oconnor Dr Unit 205 River Grove, IL	2.0	2.0	1234	$3,495	$2.83	25d	1	1.16mi
8020 Oconnor Dr #103 River Grove, IL	2.0	2.0	1234	$3,395	$2.75	25d	1	1.19mi
8020 Oconnor Dr #305 River Grove, IL	2.0	2.0	1234	$3,450	$2.80	25d	1	1.19mi
8020 Oconnor Dr #307 River Grove, IL	2.0	2.0	1234	$3,595	$2.91	25d	1	1.19mi
8040 Oconnor Dr Unit 305 River Grove, IL	2.0	2.0	1234	$3,340	$2.71	25d	1	1.20mi
8040 Oconnor Dr Unit 110 River Grove, IL	2.0	2.0	1234	$3,195	$2.59	25d	1	1.20mi
8040 Oconnor Dr #210 River Grove, IL	2.0	2.0	1234	$3,295	$2.67	25d	1	1.21mi
8040 Oconnor Dr Unit 205 River Grove, IL	2.0	2.0	1234	$3,240	$2.63	25d	1	1.21mi
3000 Cottonwood Ln River Grove, IL	3.0–4.0	3.5	2159	$4,800	$2.22	1d	7	1.23mi
3007 Cottonwood Ln River Grove, IL	4.0	3.5	2200	$4,800	$2.18	13d	1	1.23mi
3002 Cottonwood Ln River Grove, IL	4.0	3.5	2200	$4,800	$2.18	1d	1	1.23mi
3007 Birch Ln River Grove, IL	4.0	3.5	2200	$4,500	$2.05	22d	1	1.24mi
3006 Birch Ln River Grove, IL	4.0	3.5	2200	$5,300	$2.41	1d	1	1.24mi
3017 Cottonwood Ln River Grove, IL	4.0	3.5	2200	$4,800	$2.18	17d	1	1.25mi
3016 Cottonwood Ln River Grove, IL	4.0	3.5	2200	$4,800	$2.18	18d	1	1.26mi
8471 W Grand Ave River Grove, IL	2.0	2.0	1200	$2,650	$2.21	25d	1	1.29mi
3107 Cottonwood Ln River Grove, IL	4.0	3.5	2200	$4,800	$2.18	25d	1	1.29mi
3100 Birch Ln River Grove, IL	4.0	3.5	2200	$5,300	$2.41	1d	1	1.29mi
3106 Birch Ln River Grove, IL	4.0	3.5	2200	$5,300	$2.41	1d	1	1.30mi
8036 Pine Ct River Grove, IL	4.0	3.5	2200	$5,300	$2.41	1d	1	1.32mi
3017 Birch Ln River Grove, IL	4.0	3.5	2200	$4,800	$2.18	13d	1	1.32mi
3117 Birch Ln River Grove, IL	4.0	3.5	2200	$5,000	$2.27	13d	1	1.32mi
3115 Birch Ln River Grove, IL	4.0	3.5	2200	$4,800	$2.18	13d	1	1.32mi
3102 Birch Ln River Grove, IL	4.0	3.5	2200	$5,000	$2.27	2d	1	1.32mi

Listing history 8 events

1. 2026-05-08
   historical Contingent - No Showings 767-char remark

   Show marketing remark (767 chars)

   First time on the market in decades, this spacious bungalow sits in a prime pocket of Elmwood Park just four blocks east of Oak Park Country Club. This well-built home offers incredible potential with three levels of living space, generous room sizes, and solid construction throughout-truly a property with great bones ready for its next chapter. Originally configured for multi-generational living, the home currently features multiple kitchens and baths. The Village requires deconversion back to a single-family residence, presenting a unique opportunity for investors, rehabbers, or buyers looking to customize a large home to their vision. Being sold as-is. Exceptional value for those ready to bring this property back to life in a highly desirable location.

2. 2026-05-02
   price $298,000 767-char remark

   Show marketing remark (767 chars)

   First time on the market in decades, this spacious bungalow sits in a prime pocket of Elmwood Park just four blocks east of Oak Park Country Club. This well-built home offers incredible potential with three levels of living space, generous room sizes, and solid construction throughout-truly a property with great bones ready for its next chapter. Originally configured for multi-generational living, the home currently features multiple kitchens and baths. The Village requires deconversion back to a single-family residence, presenting a unique opportunity for investors, rehabbers, or buyers looking to customize a large home to their vision. Being sold as-is. Exceptional value for those ready to bring this property back to life in a highly desirable location.

3. 2026-04-22
   status Active 767-char remark

   Show marketing remark (767 chars)

   First time on the market in decades, this spacious bungalow sits in a prime pocket of Elmwood Park just four blocks east of Oak Park Country Club. This well-built home offers incredible potential with three levels of living space, generous room sizes, and solid construction throughout-truly a property with great bones ready for its next chapter. Originally configured for multi-generational living, the home currently features multiple kitchens and baths. The Village requires deconversion back to a single-family residence, presenting a unique opportunity for investors, rehabbers, or buyers looking to customize a large home to their vision. Being sold as-is. Exceptional value for those ready to bring this property back to life in a highly desirable location.

4. 2026-04-16
   historical Contingent - No Showings 767-char remark

   Show marketing remark (767 chars)

   First time on the market in decades, this spacious bungalow sits in a prime pocket of Elmwood Park just four blocks east of Oak Park Country Club. This well-built home offers incredible potential with three levels of living space, generous room sizes, and solid construction throughout-truly a property with great bones ready for its next chapter. Originally configured for multi-generational living, the home currently features multiple kitchens and baths. The Village requires deconversion back to a single-family residence, presenting a unique opportunity for investors, rehabbers, or buyers looking to customize a large home to their vision. Being sold as-is. Exceptional value for those ready to bring this property back to life in a highly desirable location.

5. 2026-04-07
   listed $324,700 Active 767-char remark

   Show marketing remark (767 chars)

   First time on the market in decades, this spacious bungalow sits in a prime pocket of Elmwood Park just four blocks east of Oak Park Country Club. This well-built home offers incredible potential with three levels of living space, generous room sizes, and solid construction throughout-truly a property with great bones ready for its next chapter. Originally configured for multi-generational living, the home currently features multiple kitchens and baths. The Village requires deconversion back to a single-family residence, presenting a unique opportunity for investors, rehabbers, or buyers looking to customize a large home to their vision. Being sold as-is. Exceptional value for those ready to bring this property back to life in a highly desirable location.

6. 2018-12-04
   historical
7. 2018-09-27
   listed New
8. 1988-04-04
   soldstatus $130,000

ⓘ 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: $7,257 · $605/mo
• Projected year-2 tax: $7,257 · $605/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 · 14 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 0% chance of damaging wind over 30 yrs
• 🫁 Air quality 5/10 Major 6 unhealthy d/yr today · 8 by 30 yrs out

Taxation est. · year 1

• Rental income: $37,465
• − Mortgage interest: −$16,693
• − Property taxes: −$7,257
• − Insurance: −$1,490
• − Repairs & maintenance: −$2,997
• − Management: −$2,997
• − Depreciation: −$8,669
• Taxable loss: −$2,638
• Est. tax savings @ 24.0%: +$633
• After-tax cash flow: $2,730/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: Elmwood Park CUSD 401
• NCES district ID: 1714100
• Math proficiency: 15% ▼ -14.00%
• Reading proficiency: 26% ▼ -14.00%
• Median HH income: $54,600
• Composite: 18.73/100
• National rank: #8879
• State rank: #403 of 620 in IL

Livability — Elmwood Park

• Score: 83/100
• State rank: #41
• US rank: #865

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Elmwood Park, IL
• County: Cook County · 4,486,803 people
• City population: 41,116
• Metro: Chicago-Naperville-Elgin, IL-IN-WI
• Population (ZIP): 41,116
• Household income: $84,799
• Rent vs Own: 34.0% rent · 66.0% own
• Severe rent burden: 1195.0

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 0.61)
• Race & ethnicity: White 45% Hispanic / Latino 43% Two or more races 14% Black 7% Asian 3%
• Hispanic origin (detail): Mexican 22% Puerto Rican 12% Cuban 1%
• Common ancestry: Romanian 13% Subsaharan African 2% Scotch-Irish 1%
• Foreign-born: 25% · Canada, Jamaica, Dominican Republic
• Languages at home: 54% English-only · Spanish 29% Russian/Polish/Slavic 11% Other Indo-European 3%

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: ▼ -256.46%
• Current HPI: 222.8083
• Rent YoY: ▲ 7.21%
• 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

+129.2% since first listed

8 events — show timeline

• 2026-05-08 Contingent — MRED as Distributed by MLS Grid
• 2026-05-02 Price Changed $298,000 MRED as Distributed by MLS Grid
• 2026-04-22 Relisted — MRED as Distributed by MLS Grid
• 2026-04-16 Contingent — MRED as Distributed by MLS Grid
• 2026-04-07 Listed $324,700 MRED as Distributed by MLS Grid
• 2018-12-04 Listing Removed — MRED as Distributed by MLS Grid
• 2018-09-27 Listed — MRED as Distributed by MLS Grid
• 1988-04-04 Sold (Public Records) $130,000 Public Records

Property tax history

+4.2%/yr

Latest (2023): $7,257 · +108.2% YoY. Source: county tax records.