2531 N 75th Ave · Elmwood Park, IL 60707

$289,000

4 bd · 2.0 ba · 1,840 sqft · MultiFamily public records · 44 Days on market

Built 1923

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Why this score? — see what drove the B- 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 +28.9/30.0
• DSCR +10.0/10.0
• 1% rule +7.7/10.0
• ARV discount +7.5/15.0
• 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

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks

MOTIVATED SELLER: Elmwood Park 2-flat is currently owner-occupied. Each unit has 2 bedrooms and 1 bath. SOLD "as-is" property, seller will make no repairs, village inspection report under Additional Info.

Key facts

• 3 parking spots
• Built 1923
• Listed 44 days

Property features AI

Finance

• Other: Possession negotiable (close plus 30 days); Holds earnest money
• Financial info: Special service area: No; Tax exemptions: Homeowner, Senior, Senior Freeze

Exterior

• Parking: 3 parking spaces (total)
• Utilities: Water source: Lake Michigan; Public sewer
• Home design: Two- to four-unit building; Two units (duplex); Built over 100 years ago; Fee simple ownership
• Construction: Built before 1978
• Exterior features: Lot less than 0.25 acre; Lot dimensions: 4,688; Zoned for multi-family

Interior

• Kitchen: Stove; Refrigerator
• Bedrooms: 3 bedrooms total; Unit 1 (first floor): 2 bedrooms; Unit 2 (second floor): 2 bedrooms
• Bathrooms: 2 full bathrooms total; Unit 1: 1 full bathroom; Unit 2: 1 full bathroom
• Heating & cooling: Radiant heat
• Interior features: 11 total rooms; Partially finished, full basement
• Laundry & utility: Tenant pays: none (for listed units)

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath multifamily listed at $289k.

Deal economics

• At list price, monthly cash flow is $980 ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $289k).
• Recommended offer: $280k (3.0% below list) — sets the bar for market timing.
• Cap rate 10.4% 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; 28 comparable units currently listed for rent nearby; rentals leasing fast (median 13d 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).
• At $3,676/mo this rent would consume 52% of the median local household income ($85k/yr) (locally 1195% 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 $9k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 7.2% rent growth), your $81k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 44 days — a 3% lower offer ($280k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $40k; list at $289k implies a 622% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1923 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $280,330 (3.0% below list)

Questions for the listing agent

1. It's been on market 44 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 1923 — 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 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: 1.27% ✓
• Cap rate: 10.36%
• Cash-on-cash: 14.53%
• DSCR: 1.65
• GRM: 6.6

CMA / ARV

• ARV (median comp): $838,069
• List price: $289,000
• Delta: -65.52%
• Verdict: UNDERPRICED
• Comps: 8 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 7.21% rent growth · sell at horizon

5-year hold

• IRR: 9.5%
• Equity multiple: 1.39×
• Total profit: $31,819
• Equity at exit: $43,091

10-year hold

• IRR: 21.9%
• Equity multiple: 3.23×
• Total profit: $180,764
• Equity at exit: $24,987

Cash invested: $80,920 (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: 13.1×

Monthly cashflow live

• Estimated rent: $3,676 high
• Mortgage (P&I): −$1,516
• Tax from tax record: −$288 /mo · $3,458/yr
• Insurance: −$120
• HOA: −$0
• Vacancy / Maint / Mgmt: −$772
• Net cashflow: $980

Break-even live

Break-even rent $2,436

Max offer price $289,000

Occupancy floor 68%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$3,676
Total (2 units)			$3,676

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: $72,250
• Closing costs: $8,670
• Reserves months: —
• Total cash needed: —

Rent comps 28 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2530 N 74th Ave #3 Elmwood Park, IL	3.0	2.0	1800	$2,500	$1.39	20d	1	0.08mi
2702 N 74th Ave Unit 2 Elmwood Park, IL	3.0	1.5	1400	$2,750	$1.96	24d	1	0.23mi
7659 W Sunset Dr Elmwood Park, IL	4.0	3.0	1600	$3,400	$2.12	24d	1	0.36mi
2442 N 77th Ct Unit 2 Elmwood Park, IL	3.0	1.5	2000	$2,509	$1.25	43d	1	0.37mi
3007 Cottonwood Ln River Grove, IL	4.0	3.5	2200	$4,800	$2.18	12d	1	0.95mi
3000 Cottonwood Ln River Grove, IL	3.0–4.0	3.5	2159	$5,300	$2.45	1d	7	0.95mi
3002 Cottonwood Ln River Grove, IL	4.0	3.5	2200	$4,800	$2.18	1d	1	0.95mi
3017 Cottonwood Ln River Grove, IL	4.0	3.5	2200	$4,800	$2.18	17d	1	0.97mi
3007 Birch Ln River Grove, IL	4.0	3.5	2200	$4,500	$2.05	22d	1	0.97mi
3006 Birch Ln River Grove, IL	4.0	3.5	2200	$5,300	$2.41	1d	1	0.97mi
3016 Cottonwood Ln River Grove, IL	4.0	3.5	2200	$4,800	$2.18	17d	1	0.98mi
3107 Cottonwood Ln River Grove, IL	4.0	3.5	2200	$4,800	$2.18	24d	1	0.99mi
3100 Birch Ln River Grove, IL	4.0	3.5	2200	$5,300	$2.41	1d	1	1.01mi
3106 Birch Ln River Grove, IL	4.0	3.5	2200	$5,300	$2.41	1d	1	1.02mi
3115 Birch Ln River Grove, IL	4.0	3.5	2200	$4,800	$2.18	12d	1	1.03mi
3117 Birch Ln River Grove, IL	4.0	3.5	2200	$5,000	$2.27	12d	1	1.03mi
3017 Birch Ln River Grove, IL	4.0	3.5	2200	$4,800	$2.18	13d	1	1.03mi
3102 Birch Ln River Grove, IL	4.0	3.5	2200	$5,000	$2.27	2d	1	1.03mi
3114 Birch Ln River Grove, IL	4.0	3.5	2200	$5,000	$2.27	5d	1	1.03mi
8036 Pine Ct River Grove, IL	4.0	3.5	2200	$5,300	$2.41	1d	1	1.04mi
8001 Belmont Ave River Grove, IL	1.0–3.0	1.0–3.0	1030	$3,690	$3.58	5d	20	1.06mi
8003 W Belmont Ave Unit 303 Chicago, IL	3.0	2.0	1336	$3,450	$2.58	24d	1	1.09mi
8015 W Belmont Ave Unit 204 Chicago, IL	3.0	2.0	1336	$3,500	$2.62	24d	1	1.11mi
8015 W Belmont Ave Unit 203 Chicago, IL	3.0	2.0	1336	$3,690	$2.76	24d	1	1.11mi
8212 W Walsh Ln Apt 1 River Grove, IL	3.0	3.0	2200	$2,600	$1.18	2d	1	1.14mi
1619 N Neva Ave Chicago, IL	1.0–3.0	1.0–2.5	1654	$4,376	$2.64	2d	41	1.23mi
2112 N Nashville Ave Chicago, IL	2.0–4.0	2.0–3.0	1482	$4,699	$3.17	3d	15	1.26mi
8536 River Grove Ave River Grove, IL	3.0	2.0	1424	$3,100	$2.18	14d	1	1.39mi

Listing history 16 events

1. 2026-06-18
   days on market $289,000 Active 44 DOM
2. 2026-06-17
   days on market $289,000 Active 43 DOM
3. 2026-06-16
   days on market $289,000 Active 42 DOM
4. 2026-06-15
   days on market $289,000 Active 41 DOM
5. 2026-06-13
   days on market $289,000 Active 39 DOM
6. 2026-06-13
   days on market $289,000 Active 38 DOM
7. 2026-06-09
   days on market $289,000 Active 35 DOM
8. 2026-06-08
   days on market $289,000 Active 34 DOM
9. 2026-06-07
   pricedays on market $289,000 Active 33 DOM
10. 2026-06-04
    days on market $325,000 Active 30 DOM
11. 2026-06-03
    days on market $325,000 Active 29 DOM
12. 2026-06-02
    days on market $325,000 Active 28 DOM
13. 2026-06-01
    days on market $325,000 Active 27 DOM
14. 2026-05-31
    days on market $325,000 Active 26 DOM
15. 2026-05-05
    listed $325,000 Active 214-char remark
16. 1995-04-24
    soldstatus $40,000

ⓘ 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: $3,458 · $288/mo
• Projected year-2 tax: $5,009 · $417/mo
• Expected delta: +$1,551/yr (+$129/mo · 44.8%)

ⓘ 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 100% 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: $44,112
• − Mortgage interest: −$16,188
• − Property taxes: −$3,458
• − Insurance: −$1,445
• − Repairs & maintenance: −$3,529
• − Management: −$3,529
• − Depreciation: −$8,407
• Taxable income: $7,555
• Est. tax owed @ 24.0%: −$1,813
• After-tax cash flow: $9,945/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

+622.5% since first listed

3 events — show timeline

• 2026-06-06 Price Changed $289,000 MRED as Distributed by MLS Grid
• 2026-05-05 Listed $325,000 MRED as Distributed by MLS Grid
• 1995-04-24 Sold (Public Records) $40,000 Public Records

Property tax history

-0.7%/yr

Latest (2023): $3,458 · -0.1% YoY. Source: county tax records.