7001 Carpenter Rd · Skokie, IL 60077

$350,000

4 bd · 1.5 ba · 1,480 sqft · SingleFamily public records · 32 Days on market

Built 1912 6,250 sqft lot $236/sqft · 32% below area Est $515k · 32% 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).

• ARV discount +15.0/15.0
• Cash flow +14.0/30.0
• Schools +5.0/10.0
• 1% rule +4.4/10.0
• DSCR +4.2/10.0
• Livability +4.1/5.0
• Rent growth +3.6/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Spacious 4 bedroom, 2 bath home in Skokie with tons of potential! Ideal for investors or rehab buyers-bring your vision and make it your own. Property is being sold AS-IS, WHERE-IS.

Key facts

• 6,250 sq ft lot
• 2 garage spots
• Built 1912

Property features AI

Finance

• Other: Ownership: Fee simple; Possession at closing; Holds earnest money
• HOA & community: No master association fee required

Exterior

• Parking: Detached garage (2 spaces, 2 total parking)
• Utilities: Public water; Public sewer
• Home design: Detached single-family home; 2-story
• Construction: Frame construction; Built over 100 years ago; Built before 1978
• Exterior features: Lot dimensions approximately 50 x 125; Lot under 0.25 acre; Directions: From Dempster St, head north on Carpenter Rd; property is on the east side of the street at 7001 Carpenter Rd.

Interior

• Kitchen: Kitchen on main level (12 x 14)
• Bedrooms: 4 bedrooms; Master bedroom on second level (12 x 10); Second bedroom on second level (12 x 12); Third bedroom on second level (12 x 12); Fourth bedroom on second level (25 x 40)
• Bathrooms: 2 full bathrooms
• Heating & cooling: Natural gas heating; Central air conditioning
• Interior features: 6 total rooms; Unfinished full basement
• Laundry & utility: Laundry room

What this means for you Summary

Snapshot

• This is a 4-bed/1.5-bath single-family listed at $350k.

Deal economics

• At list price, monthly cash flow is $45 ($542/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $327k (6.5% below list).
• Recommended offer: $327k (6.5% below list) — sets the bar for 1% rule.
• Cap rate 6.4% vs local median 3.2% in Skokie — 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 82/100 on livability (#74 in IL, #1,213 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, employment A+; Watch: health & safety C-, cost of living D.
• Market conditions: Rents rising fast (+4.4%/yr); 1 active listings in the ZIP; 1 comparable units currently listed for rent nearby; solid renter incomes; 6,272 units permitted in Cook County in 2024 (4,658 in 5+ unit buildings).
• At $3,273/mo this rent would consume 50% of the median local household income ($79k/yr) (locally 1316% 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 $2k of loan paydown is wiped out by about $10k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 32 days — a 3% lower offer ($340k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $250k; 40% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1912 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $327,283 (6.5% below list)

Questions for the listing agent

1. It's been on market 32 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1912 — 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. 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.
5. 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.
6. 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: 0.94% ✗
• Cap rate: 6.45%
• Cash-on-cash: 0.55%
• DSCR: 1.02
• GRM: 8.9

CMA / ARV

• ARV (median comp): $515,015
• List price: $350,000
• Delta: -32.04%
• 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
5131 Touhy Ave	0.34mi	3/2.0 (-1)	1,459 (-1%)	8mo	$465,000	$319	68
5049 Lunt Ave	0.34mi	3/2.0 (-1)	1,500 (+1%)	13mo	$449,000	$299	64
5148 Coyle Ave	0.22mi	3/2.0 (-1)	1,600 (+8%)	6mo	$555,000	$347	64
4940 Coyle Ave	0.48mi	3/2.5 (-1)	1,544 (+4%)	0mo	$675,000	$437	61
5037 Fargo Ave	0.65mi	3/2.0 (-1)	1,500 (+1%)	4mo	$425,000	$283	57
4939 Fargo Ave	0.73mi	4/2.0	1,521 (+3%)	8mo	$410,000	$270	53
6955 N Dowagiac Ave	0.28mi	3/2.0 (-1)	1,699 (+15%)	7mo	$485,000	$285	49
6623 N Sioux Ave	0.50mi	3/2.0 (-1)	1,596 (+8%)	11mo	$575,000	$360	48
4943 Fairview Ln	0.48mi	3/1.5 (-1)	1,675 (+13%)	10mo	$570,000	$340	43
7081 N Mason Ave	0.65mi	3/1.5 (-1)	1,300 (-12%)	2mo	$485,000	$373	42
6700 N Sioux Ave	0.49mi	3/2.0 (-1)	1,676 (+13%)	9mo	$615,000	$367	40
4915 Farwell Ave	0.57mi	4/3.0	1,683 (+14%)	12mo	$630,000	$374	35

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 · 4.41% rent growth · sell at horizon

5-year hold

• IRR: -13.7%
• Equity multiple: 0.50×
• Total profit: $-49,004
• Equity at exit: $52,186

10-year hold

• IRR: -2.6%
• Equity multiple: 0.81×
• Total profit: $-18,577
• Equity at exit: $30,262

Cash invested: $98,000 (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 60077

• Rents YoY: 4.4%
• Active inventory: 1
• Price-to-rent: 8.9×

Monthly cashflow live

• Estimated rent: $3,273 medium
• Mortgage (P&I): −$1,835
• Tax from tax record: −$559 /mo · $6,709/yr
• Insurance: −$146
• HOA: −$0
• Vacancy / Maint / Mgmt: −$687
• Net cashflow: $45

Break-even live

Break-even rent $3,216

Max offer price $350,000

Occupancy floor 94%

Sensitivity live

Price	-10% $243	-5% $144	+0% $45	+5% $-54	+10% $-153
Rent	-10% $-213	-5% $-84	+0% $45	+5% $174	+10% $304
Rate	-1.0pp $221	-0.5pp $134	base $45	+0.5pp $-45	+1.0pp $-138

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: $87,500
• Closing costs: $10,500
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
8000 Lincoln Ave Skokie, IL	3.0	1.0–2.0	992	$4,897	$4.94	0d	15	1.32mi

Listing history 4 events

1. 2026-04-23
   listed $350,000 Active 181-char remark
2. 2022-07-27
   soldstatus $220,000
3. 1991-07-10
   soldstatus $152,000
4. 1989-02-21
   soldstatus $85,000

ⓘ 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: $6,709 · $559/mo
• Projected year-2 tax: $7,327 · $611/mo
• Expected delta: +$618/yr (+$52/mo · 9.2%)

ⓘ 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 ≥99°F today · 14 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 4/10 Moderate 6 unhealthy d/yr today · 7 by 30 yrs out

Taxation est. · year 1

• Rental income: $39,274
• − Mortgage interest: −$19,605
• − Property taxes: −$6,709
• − Insurance: −$1,750
• − Repairs & maintenance: −$3,142
• − Management: −$3,142
• − Depreciation: −$10,182
• Taxable loss: −$5,256
• Est. tax savings @ 24.0%: +$1,261
• After-tax cash flow: $1,804/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 — Skokie

• Score: 82/100
• State rank: #74
• US rank: #1213

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Skokie, IL
• County: Cook County · 4,486,803 people
• City population: 61,454
• Metro: Chicago-Naperville-Elgin, IL-IN-WI
• Population (ZIP): 28,501
• Household income: $78,523
• Rent vs Own: 35.5% rent · 64.5% own
• Severe rent burden: 1316.0

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 0.69)
• Race & ethnicity: White 45% Asian 29% Hispanic / Latino 12% Black 10% Two or more races 8%
• Hispanic origin (detail): Mexican 8% Puerto Rican 3%
• Common ancestry: Romanian 2% Scotch-Irish 2% American 2%
• Foreign-born: 43% · Canada, China, Vietnam
• Languages at home: 48% English-only · Other Indo-European 16% Spanish 8% Tagalog/Filipino 5%

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: ▼ -185.81%
• Current HPI: 182.9687
• Rent YoY: ▲ 4.41%
• 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

+194.1% since first listed

6 events — show timeline

• 2026-05-27 Sold (Public Records) $250,000 Public Records
• 2026-05-27 Listing Removed — MRED as Distributed by MLS Grid
• 2026-04-23 Listed — MRED as Distributed by MLS Grid
• 2022-07-27 Sold (Public Records) $220,000 Public Records
• 1991-07-10 Sold (Public Records) $152,000 Public Records
• 1989-02-21 Sold (Public Records) $85,000 Public Records

Property tax history

+2.1%/yr

Latest (2023): $6,709 · -16.5% YoY. Source: county tax records.