820 Seward St Unit 3E · Evanston, IL 60202

$175,000

1 bd · 1.0 ba · 800 sqft · Condo · 31 Days on market

Built 1965 $386/mo HOA · 21% 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 +9.6/30.0
• ARV discount +7.5/15.0
• 1% rule +5.7/10.0
• Schools +4.5/10.0
• Livability +4.2/5.0
• Rent growth +3.6/5.0
• DSCR +2.7/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to this perfect one bedroom condo including a deeded parking space P-13 at Asbury Park Condominiums. The unit has been carefully maintained over the years. Hardwood floors are throughout with ceramic tile in the kitchen and bathroom. There is a dining area just off of the kitchen with tree-top views to the east. One in-wall AC unit keeps the condo cooled in the summer months. Enjoy the restaurants and shops at the Chicago/Main Street corridor and walk to both Metra and CTA EL trains. Lake Michigan is 8 blocks away. Separate storage and bike room are on the ground floor. The association has plans to replace common carpeting. Pets are welcome as well as investors with no rental restrictions.

Key facts

• Deeded parking space
• Wood floors
• 3 exposures

Tags

• DEEDED PARKING SPACE
• 3 EXPOSURES
• TOP FLOOR
• NATURAL LIGHT
• WOOD FLOORS
• LARGER STORAGE LOCKER

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $175k.

Deal economics

• At list price, monthly cash flow is $-119 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $154k (12.0% below list).
• Meets the 1% rule at list price ($2k rent vs $175k).
• Recommended offer: $154k (12.0% below list) — sets the bar for cash-flow.
• Cap rate 5.5% vs local median 3.0% in Evanston — 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 85/100 on livability (#26 in IL, #464 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, employment A+; Watch: cost of living F.
• Evanston Twp Hsd 202 (urban): math 47% / reading 52% proficiency, ranked #54 of 620 in IL (top 9%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Evanston Twp High School (math 47% / reading 52%, grade D, #44 of 693 statewide, top 7%, 3,691 students, 0% FRL).
• Market conditions: Rents rising fast (+4.3%/yr); 77 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals leasing fast (median 8d 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 31 days — a 3% lower offer ($170k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 3y 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 $138k; 27% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: HOA is 21% of rent.

Recommended offer $153,918 (12.0% 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 31 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
3. Built in 1965 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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: 1.07% ✓
• Cap rate: 5.47%
• Cash-on-cash: -2.92%
• DSCR: 0.87
• GRM: 7.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 4.35% rent growth · sell at horizon

5-year hold

• IRR: -19.0%
• Equity multiple: 0.32×
• Total profit: $-33,127
• Equity at exit: $26,093

10-year hold

• IRR: -8.0%
• Equity multiple: 0.45×
• Total profit: $-26,732
• Equity at exit: $15,131

Cash invested: $49,000 (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 60202

• Rents YoY: 4.3%
• Active inventory: 77
• Price-to-rent: 7.8×

Monthly cashflow live

• Estimated rent: $1,865 high
• Mortgage (P&I): −$918
• Tax from tax record: −$216 /mo · $2,595/yr
• Insurance: −$73
• HOA: −$386
• Vacancy / Maint / Mgmt: −$392
• Net cashflow: $-119

Break-even live

Break-even rent $2,016

Max offer price $153,918

Occupancy floor —

Sensitivity live

Price	-10% $-20	-5% $-70	+0% $-119	+5% $-169	+10% $-218
Rent	-10% $-267	-5% $-193	+0% $-119	+5% $-46	+10% $28
Rate	-1.0pp $-31	-0.5pp $-75	base $-119	+0.5pp $-165	+1.0pp $-211

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: $43,750
• Closing costs: $5,250
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
810 Seward St Evanston, IL	1.0	1.0	690	$1,600	$2.32	0d	1	0.03mi
908 Reba Pl Evanston, IL	1.0	1.0	600	$1,850	$3.08	25d	1	0.10mi
916 Reba Pl Evanston, IL	1.0	1.0	700	$1,795	$2.56	25d	1	0.11mi
537 Custer Ave Unit 1 Evanston, IL	—	1.0	925	$1,900	$2.05	8d	1	0.16mi
537 Custer Ave Evanston, IL	—	1.0	925	$1,800	$1.95	8d	1	0.16mi
419 Ridge Ave Unit L Evanston, IL	2.0	1.0	1000	$1,925	$1.93	0d	1	0.25mi
800 Washington St Unit 2 Evanston, IL	1.0	1.0	700	$1,895	$2.71	8d	1	0.25mi
800 Washington St Evanston, IL	1.0	1.0	700	$1,995	$2.85	18d	1	0.25mi
800 Custer Ave Evanston, IL	—	1.0	600	$1,445	$2.41	18d	1	0.27mi
800 Custer Ave Evanston, IL	1.0	1.0	750	$1,695	$2.26	0d	1	0.27mi
907 Washington St Unit 1C Evanston, IL	2.0	1.0	1000	$1,745	$1.75	8d	1	0.29mi
610 Hinman Ave Evanston, IL	1.0–3.0	1.0–2.0	912	$1,645	$1.80	7d	6	0.30mi
704 Hinman Ave Evanston, IL	1.0–2.0	1.0	850	$1,485	$1.75	25d	1	0.31mi
718 Hinman Ave Unit 18GD Evanston, IL	2.0	1.0	1100	$1,635	$1.49	25d	1	0.31mi
718 Hinman Ave Unit 21N2 Evanston, IL	2.0	1.0	1100	$1,695	$1.54	25d	1	0.31mi
718 Hinman Ave Unit 24E2 Evanston, IL	2.0	1.0	1100	$1,750	$1.59	25d	1	0.31mi
996 Main St Evanston, IL	2.0	1.0	507	$1,290	$2.54	4d	1	0.34mi
555 Hinman Ave Evanston, IL	2.0	1.0	1050	$2,200	$2.10	16d	2	0.34mi
740 Main St Evanston, IL	2.0	2.0	596	$2,712	$4.55	25d	28	0.34mi
539 Hinman Ave Evanston, IL	2.0–3.0	1.0–2.0	1325	$2,595	$1.96	4d	2	0.35mi
800 Hinman Ave Evanston, IL	1.0	1.0	587	$1,995	$3.40	0d	7	0.35mi
647 Asbury Ave Unit 2 Evanston, IL	2.0	2.0	1050	$2,595	$2.47	3d	1	0.36mi
909 Elmwood Ave Evanston, IL	1.0	1.0	700	$1,795	$2.56	13d	1	0.37mi
907 Elmwood Ave Evanston, IL	—	1.0	1000	$1,595	$1.59	21d	1	0.37mi
336 Ridge Ave #2 Evanston, IL	2.0	1.0	950	$2,250	$2.37	25d	1	0.37mi
911 Elmwood Ave Evanston, IL	1.0	1.0	700	$1,695	$2.42	8d	1	0.38mi
847 Chicago Ave Evanston, IL	3.0	1.0–2.0	962	$3,376	$3.51	2d	12	0.38mi
245 Ridge Ave Evanston, IL	1.0	1.0	900	$1,550	$1.72	25d	1	0.43mi
855 Hinman Ave Unit 704 Evanston, IL	1.0	1.0	550	$1,791	$3.26	8d	1	0.43mi
855 Hinman Ave Unit 508 Evanston, IL	1.0	1.0	550	$1,686	$3.07	8d	1	0.43mi
855 Hinman Ave Unit 403 Evanston, IL	1.0	1.0	550	$1,661	$3.02	8d	1	0.43mi
855 Hinman Ave Unit 108 Evanston, IL	1.0	1.0	550	$1,631	$2.97	8d	1	0.43mi
855 Hinman Ave Unit 402 Evanston, IL	1.0	1.0	550	$1,731	$3.15	8d	1	0.43mi
855 Hinman Ave Evanston, IL	1.0	1.0	550	$1,729	$3.14	13d	1	0.43mi
855 Hinman Ave Unit 302 Evanston, IL	1.0	1.0	550	$1,741	$3.17	8d	1	0.43mi
805 Judson Ave Evanston, IL	2.0	1.0	1000	$2,270	$2.27	13d	1	0.45mi
805 Judson Ave Unit 3 Evanston, IL	2.0	1.0	900	$2,270	$2.52	25d	1	0.45mi
805 Judson Ave Unit 3 Evanston, IL	2.0	1.0	900	$2,270	$2.52	16d	1	0.45mi
805 Judson Ave Unit 3 Evanston, IL	2.0	1.0	900	$2,270	$2.52	0d	1	0.45mi
807 Judson Ave Unit 3W Evanston, IL	2.0	1.0	1125	$2,700	$2.40	19d	1	0.46mi

HOA detail condo

• Monthly dues: $386 · $4,632/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 27 events

1. 2026-06-21
   days on market $175,000 Active 31 DOM
2. 2026-06-18
   days on market $175,000 Active 28 DOM
3. 2026-06-17
   days on market $175,000 Active 27 DOM
4. 2026-06-16
   days on market $175,000 Active 26 DOM
5. 2026-06-15
   days on market $175,000 Active 25 DOM
6. 2026-06-13
   days on market $175,000 Active 23 DOM
7. 2026-06-09
   days on market $175,000 Active 19 DOM
8. 2026-06-08
   days on market $175,000 Active 18 DOM
9. 2026-06-07
   days on market $175,000 Active 17 DOM
10. 2026-06-04
    days on market $175,000 Active 14 DOM
11. 2026-06-03
    days on market $175,000 Active 13 DOM
12. 2026-06-02
    days on market $175,000 Active 12 DOM
13. 2026-06-01
    days on market $175,000 Active 11 DOM
14. 2026-05-31
    days on market $175,000 Active 10 DOM
15. 2026-05-21
    listed $175,000 Active
16. 2024-09-10
    soldstatus $138,000
17. 2024-09-04
    soldstatus $138,000 Closed 715-char remark

    Show marketing remark (715 chars)

    Welcome to this perfect one bedroom condo including a deeded parking space P-13 at Asbury Park Condominiums. The unit has been carefully maintained over the years. Hardwood floors are throughout with ceramic tile in the kitchen and bathroom. There is a dining area just off of the kitchen with tree-top views to the east. One in-wall AC unit keeps the condo cooled in the summer months. Enjoy the restaurants and shops at the Chicago/Main Street corridor and walk to both Metra and CTA EL trains. Lake Michigan is 8 blocks away. Separate storage and bike room are on the ground floor. The association has plans to replace common carpeting. Pets are welcome as well as investors with no rental restrictions.

18. 2024-08-14
    status Pending 715-char remark

    Show marketing remark (715 chars)

    Welcome to this perfect one bedroom condo including a deeded parking space P-13 at Asbury Park Condominiums. The unit has been carefully maintained over the years. Hardwood floors are throughout with ceramic tile in the kitchen and bathroom. There is a dining area just off of the kitchen with tree-top views to the east. One in-wall AC unit keeps the condo cooled in the summer months. Enjoy the restaurants and shops at the Chicago/Main Street corridor and walk to both Metra and CTA EL trains. Lake Michigan is 8 blocks away. Separate storage and bike room are on the ground floor. The association has plans to replace common carpeting. Pets are welcome as well as investors with no rental restrictions.

19. 2024-06-09
    historical Contingent - Continue to Show 715-char remark

    Show marketing remark (715 chars)

    Welcome to this perfect one bedroom condo including a deeded parking space P-13 at Asbury Park Condominiums. The unit has been carefully maintained over the years. Hardwood floors are throughout with ceramic tile in the kitchen and bathroom. There is a dining area just off of the kitchen with tree-top views to the east. One in-wall AC unit keeps the condo cooled in the summer months. Enjoy the restaurants and shops at the Chicago/Main Street corridor and walk to both Metra and CTA EL trains. Lake Michigan is 8 blocks away. Separate storage and bike room are on the ground floor. The association has plans to replace common carpeting. Pets are welcome as well as investors with no rental restrictions.

20. 2024-06-02
    status Active 715-char remark

    Show marketing remark (715 chars)

    Welcome to this perfect one bedroom condo including a deeded parking space P-13 at Asbury Park Condominiums. The unit has been carefully maintained over the years. Hardwood floors are throughout with ceramic tile in the kitchen and bathroom. There is a dining area just off of the kitchen with tree-top views to the east. One in-wall AC unit keeps the condo cooled in the summer months. Enjoy the restaurants and shops at the Chicago/Main Street corridor and walk to both Metra and CTA EL trains. Lake Michigan is 8 blocks away. Separate storage and bike room are on the ground floor. The association has plans to replace common carpeting. Pets are welcome as well as investors with no rental restrictions.

21. 2024-05-28
    historical Contingent - Continue to Show 715-char remark

    Show marketing remark (715 chars)

    Welcome to this perfect one bedroom condo including a deeded parking space P-13 at Asbury Park Condominiums. The unit has been carefully maintained over the years. Hardwood floors are throughout with ceramic tile in the kitchen and bathroom. There is a dining area just off of the kitchen with tree-top views to the east. One in-wall AC unit keeps the condo cooled in the summer months. Enjoy the restaurants and shops at the Chicago/Main Street corridor and walk to both Metra and CTA EL trains. Lake Michigan is 8 blocks away. Separate storage and bike room are on the ground floor. The association has plans to replace common carpeting. Pets are welcome as well as investors with no rental restrictions.

22. 2024-05-23
    listed $138,000 Active 715-char remark

    Show marketing remark (715 chars)

    Welcome to this perfect one bedroom condo including a deeded parking space P-13 at Asbury Park Condominiums. The unit has been carefully maintained over the years. Hardwood floors are throughout with ceramic tile in the kitchen and bathroom. There is a dining area just off of the kitchen with tree-top views to the east. One in-wall AC unit keeps the condo cooled in the summer months. Enjoy the restaurants and shops at the Chicago/Main Street corridor and walk to both Metra and CTA EL trains. Lake Michigan is 8 blocks away. Separate storage and bike room are on the ground floor. The association has plans to replace common carpeting. Pets are welcome as well as investors with no rental restrictions.

23. 2023-08-09
    historical
24. 2023-06-21
    status Active
25. 2023-06-15
    historical Contingent - Continue to Show
26. 2023-06-04
    listed Active
27. 2003-10-06
    soldstatus $145,000

ⓘ 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: $2,595 · $216/mo
• Projected year-2 tax: $3,284 · $274/mo
• Expected delta: +$689/yr (+$57/mo · 26.5%)

ⓘ 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 2/10 Low 7 d/yr ≥100°F today · 13 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 0% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 5 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,383
• − Mortgage interest: −$9,803
• − Property taxes: −$2,595
• − Insurance: −$875
• − Repairs & maintenance: −$1,791
• − Management: −$1,791
• − HOA: −$4,632
• − Depreciation: −$5,091
• Taxable loss: −$4,194
• Est. tax savings @ 24.0%: +$1,007
• After-tax cash flow: $-426/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: Evanston Twp Hsd 202
• NCES district ID: 1714490
• Math proficiency: 47% ▼ -3.00%
• Reading proficiency: 52% ▬ 0.00%
• Median HH income: $72,672
• Composite: 44.52/100
• National rank: #2794
• State rank: #54 of 620 in IL

Livability — Evanston

• Score: 85/100
• State rank: #26
• US rank: #464

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Evanston, IL
• County: Cook County · 4,486,803 people
• City population: 76,085
• Metro: Chicago-Naperville-Elgin, IL-IN-WI
• Population (ZIP): 32,341
• Household income: $98,989
• Rent vs Own: 41.9% rent · 58.1% own
• Severe rent burden: 784.0

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 0.65)
• Race & ethnicity: White 54% Black 18% Hispanic / Latino 14% Two or more races 11% Asian 8%
• Hispanic origin (detail): Mexican 8%
• Common ancestry: Romanian 8% Scotch-Irish 2% Portuguese 2%
• Foreign-born: 19% · Canada, Jamaica, Vietnam
• Languages at home: 73% English-only · Spanish 11% Other Indo-European 3% Russian/Polish/Slavic 2%

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: ▼ -245.25%
• Current HPI: 172.9605
• Rent YoY: ▲ 4.35%
• 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

+20.7% since first listed

13 events — show timeline

• 2026-05-21 Listed $175,000 MRED as Distributed by MLS Grid
• 2024-09-10 Sold (Public Records) $138,000 Public Records
• 2024-09-04 Sold (MLS) $138,000 MRED as Distributed by MLS Grid
• 2024-08-14 Pending — MRED as Distributed by MLS Grid
• 2024-06-09 Contingent — MRED as Distributed by MLS Grid
• 2024-06-02 Relisted — MRED as Distributed by MLS Grid
• 2024-05-28 Contingent — MRED as Distributed by MLS Grid
• 2024-05-23 Listed $138,000 MRED as Distributed by MLS Grid
• 2023-08-09 Listing Removed — MRED as Distributed by MLS Grid
• 2023-06-21 Relisted — MRED as Distributed by MLS Grid
• 2023-06-15 Contingent — MRED as Distributed by MLS Grid
• 2023-06-04 Listed — MRED as Distributed by MLS Grid
• 2003-10-06 Sold (Public Records) $145,000 Public Records

Property tax history

+0.1%/yr

Latest (2023): $2,595 · +4.2% YoY. Source: county tax records.