714 Chestnut St · Deerfield, IL 60015

$489,900

2 bd · 2.0 ba · 1,631 sqft · SingleFamily public records · 3 Days on market

Built 1952 8,145 sqft lot Est $497k · at est.

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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 +10.9/30.0
• ARV discount +8.2/15.0
• Schools +5.9/10.0
• Livability +4.2/5.0
• 1% rule +3.4/10.0
• DSCR +3.2/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

FANTASTIC OPPORTUNITY TO LIVE IN THE HEART OF DEERFIELD. This updated ranch home has been owned by different generations of one family since it was built, and it has been maintained and improved throughout the years! Kitchen features custom made cabinets, granite counters, and SS appliances. New refinished hardwood floors throughout the main floor, freshly painted, new light fixtures, newer bathroom vanity, AND MORE! Newer roof in 2015! Finished basement features a family room with dry bar, bedroom, full bath, and large laundry room with storage and an exterior exit. Laundry chute also! Fenced backyard with beautiful landscaping, firepit, and patio. The long concrete driveway can fit up to 8 cars. The 2.5 detached garage is 728sq ft with Heat and AC and 240 electrical. Huge shed in the back of the garage stays also! The FANTASTIC location of this home is walking distance to Downtown Deerfield's restaurants, shopping, library, parks, and farmers market. GREAT LOCATION FOR COMMUTERS AS THE METRA IS 1.5BLOCKS AWAY AND EASY ACCESS 294 AND 41/94. AWARD WINNING SCHOOLS!

Key facts

• New furnace
• Custom wood cabinets
• Natural light

Tags

• NATURAL LIGHT
• HARDWOOD FLOORS
• NEW FURNACE
• NEW AC
• CUSTOM WOOD CABINETS
• GRANITE COUNTERTOPS

Property features AI

Finance

• Other: Property located in West Deerfield / Deerfield limits; Lot less than 0.25 acre (dimensions 150.5 x 54.9 x 150.4 x 54.9); Below-grade finished area approximately 868; Approx. total finished area about 1,800; total finished/unfinshed roughly 1,932; Unfinished basement area present; Built before 1978
• HOA & community: No master association fee required

Exterior

• Parking: Approximately 2.5 garage spaces (detached garage); Heated garage with garage door opener; Concrete surfaces and side driveway; Garage owned; Additional parking for several vehicles (total parking listed)
• Security: CO detectors
• Utilities: Lake Michigan and public water supply; Public sewer
• Home design: Detached single-family home; One-story layout (with finished lower level/daylight basement); Owned fee simple
• Construction: Built 71–80 years ago; Aluminum siding; Asphalt roof; Concrete perimeter foundation; Finished below-grade living area
• Exterior features: Patio; Fire pit; Fenced yard; Curbs, sidewalks, street lights, paved streets; Commuter bus and train access; interstate access; flood zone

Interior

• Kitchen: Range; Microwave; Dishwasher; Refrigerator; Disposal; Stainless steel appliances
• Bedrooms: 3 bedrooms (Master bedroom on main level; additional bedrooms on main and lower levels)
• Flooring: Hardwood flooring in many main-level rooms; Ceramic tile in kitchen; Carpet in lower-level family/bedroom areas
• Bathrooms: 2 full bathrooms; Double sink, separate shower, soaking tub; Bathroom located in basement
• Heating & cooling: Natural gas heating; Forced air; Radiant floor heating; Central air conditioning; CO detectors; Ceiling fans
• Interior features: Granite counters; Screens on windows; 7 total rooms
• Laundry & utility: Washer and dryer included; Electric dryer hookup; Laundry chute; Laundry room on lower level

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $490k.

Deal economics

• At list price, monthly cash flow is $-211 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $453k (7.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $412k (15.9% below list).
• Recommended offer: $412k (15.9% below list) — sets the bar for 1% rule.
• Cap rate 5.8% vs local median 3.4% in Deerfield — 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 (#35 in IL, #705 nationally) — a professional / high-income tenant draw. Strengths: crime A+, commute A+, employment A+; Watch: amenities C-, health & safety C-, cost of living F.
• Twp Hsd 113 (suburban): math 60% / reading 63% proficiency, ranked #19 of 620 in IL (top 3%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Walden Elem School (math 63% / reading 61%, grade B, #53 of 2,056 statewide, top 3%, 452 students, 0% FRL); Alan B Shepard Middle School (math 56% / reading 71%, grade B+, #19 of 665 statewide, top 3%, 460 students, 0% FRL); Deerfield High School (math 67% / reading 69%, grade B, #9 of 693 statewide, top 1%, 1,483 students, 0% FRL).
• Market conditions: 122 active listings in the ZIP; 19 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); high-income renter base; 948 units permitted in Lake County in 2024 (424 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $15k of value loss. Plan a longer hold.
• Lake County population projected to shrink 8% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 6y 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 $332k; 48% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1952 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $411,816 (15.9% 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 1952 — 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 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?
5. 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?
6. 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.
7. 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.
8. 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: 0.84% ✗
• Cap rate: 5.78%
• Cash-on-cash: -1.85%
• DSCR: 0.92
• GRM: 9.9

CMA / ARV

• ARV (on-the-fly): $497,455
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
956 Brookside Ln	0.21mi	3/2.0 (+1)	1,668 (+2%)	8mo	$515,000	$309	75
525 Mallard Ln	0.35mi	3/1.5 (+1)	1,736 (+6%)	2mo	$477,500	$275	65
1030 Chestnut St	0.41mi	3/1.5 (+1)	1,500 (-8%)	2mo	$430,000	$287	59
677 Timber Hill Rd	0.53mi	3/2.0 (+1)	1,689 (+4%)	6mo	$528,000	$313	59
803 Pine St	0.48mi	3/2.5 (+1)	1,563 (-4%)	12mo	$655,000	$419	54
900 Fairoaks Ave	0.55mi	3/2.0 (+1)	1,802 (+10%)	1mo	$510,000	$283	51
555 Longfellow Ave	0.45mi	3/2.0 (+1)	1,415 (-13%)	2mo	$525,000	$371	51
521 Deerfield Rd	0.52mi	3/2.0 (+1)	1,803 (+10%)	4mo	$485,000	$269	50
505 Margate Ter	0.62mi	3/1.5 (+1)	1,540 (-6%)	7mo	$470,000	$305	49
1052 Greenwood Ave	0.64mi	3/1.0 (+1)	1,500 (-8%)	5mo	$377,000	$251	43
1029 Elmwood Ave	0.75mi	3/2.0 (+1)	1,465 (-10%)	1mo	$497,500	$340	43
1314 Somerset Ave	0.68mi	3/1.5 (+1)	1,386 (-15%)	9mo	$416,150	$300	29

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -19.3%
• Equity multiple: 0.32×
• Total profit: $-92,719
• Equity at exit: $73,046

10-year hold

• IRR: -12.0%
• Equity multiple: 0.29×
• Total profit: $-97,600
• Equity at exit: $42,358

Cash invested: $137,172 (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 60015

• Active inventory: 122
• Price-to-rent: 9.9×

Monthly cashflow live

• Estimated rent: $4,118 high
• Mortgage (P&I): −$2,569
• Tax from tax record: −$691 /mo · $8,295/yr
• Insurance: −$204
• HOA: −$0
• Vacancy / Maint / Mgmt: −$865
• Net cashflow: $-211

Break-even live

Break-even rent $4,385

Max offer price $452,610

Occupancy floor —

Sensitivity live

Price	-10% $66	-5% $-72	+0% $-211	+5% $-350	+10% $-488
Rent	-10% $-536	-5% $-374	+0% $-211	+5% $-48	+10% $114
Rate	-1.0pp $36	-0.5pp $-86	base $-211	+0.5pp $-338	+1.0pp $-467

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: $122,475
• Closing costs: $14,697
• Reserves months: —
• Total cash needed: —

Rent comps 19 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
740 Chestnut St Unit 2 Deerfield, IL	2.0	2.0	1100	$2,990	$2.72	26d	1	0.05mi
1006 Brookside Ln Deerfield, IL	3.0	2.0	2074	$3,900	$1.88	26d	1	0.22mi
728 Waukegan Rd Unit 209 Deerfield, IL	3.0	2.5	1767	$5,950	$3.37	24d	1	0.24mi
728 Waukegan Rd Deerfield, IL	3.0	2.0	1767	$7,000	$3.96	26d	1	0.24mi
728 Waukegan Rd Unit 206 Deerfield, IL	2.0	2.0	1117	$4,700	$4.21	26d	1	0.24mi
728 Waukegan Rd Unit 203 Deerfield, IL	2.0	2.0	1117	$4,295	$3.85	24d	1	0.24mi
728 Waukegan Rd Unit 203 Deerfield, IL	2.0	2.0	1117	$4,295	$3.85	18d	1	0.24mi
728 Waukegan Rd Deerfield, IL	2.0	2.0	1117	$4,495	$4.02	24d	1	0.24mi
728 Waukegan Rd Unit 206 Deerfield, IL	2.0	2.0	1117	$4,495	$4.02	26d	1	0.24mi
728 Waukegan Rd Unit 209 Deerfield, IL	3.0	2.5	1767	$5,950	$3.37	18d	1	0.24mi
625 Deerfield Rd Deerfield, IL	1.0–2.0	1.0–2.0	1057	$3,580	$3.39	7d	11	0.38mi
621 Waukegan Rd Deerfield, IL	2.0	1.0	1200	$2,350	$1.96	14d	1	0.40mi
1150 Blackthorn Ln Deerfield, IL	3.0	2.5	1566	$4,500	$2.87	26d	1	0.70mi
1344 Barclay Ln Unit 1344 Deerfield, IL	2.0	1.5	1232	$2,450	$1.99	22d	1	0.82mi
1430 Waukegan Rd Deerfield, IL	3.0	3.0	1562	$3,500	$2.24	0d	1	0.89mi
1525 Lake Cook Rd Deerfield, IL	2.0	1.0–2.0	946	$4,215	$4.46	0d	17	1.25mi
15 Parkway North Blvd Deerfield, IL	1.0–2.0	1.0–2.0	964	$3,348	$3.47	0d	32	1.30mi
631 Thayer St Deerfield, IL	1.0–3.0	1.5–2.5	1791	$5,900	$3.29	0d	1	1.35mi
400 Spring Cress RD Deerfield, IL	3.0	1.0–2.0	999	$2,965	$2.97	0d	55	1.44mi

Listing history 2 events

1. 2026-06-21
   remarks 689-char remark
2. 2026-06-21
   listed $489,900 Active 3 DOM

ⓘ 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: $8,295 · $691/mo
• Projected year-2 tax: $9,708 · $809/mo
• Expected delta: +$1,413/yr (+$118/mo · 17.0%)

ⓘ 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 2/10 Low 7 d/yr ≥99°F today · 14 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 0% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $49,418
• − Mortgage interest: −$27,442
• − Property taxes: −$8,295
• − Insurance: −$2,450
• − Repairs & maintenance: −$3,953
• − Management: −$3,953
• − Depreciation: −$14,252
• Taxable loss: −$10,927
• Est. tax savings @ 24.0%: +$2,622
• After-tax cash flow: $89/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: Twp Hsd 113
• NCES district ID: 1719080
• Math proficiency: 60% ▼ -6.00%
• Reading proficiency: 63% ▼ -5.00%
• Median HH income: $122,404
• Composite: 59.23/100
• National rank: #937
• State rank: #19 of 620 in IL

Livability — Deerfield

• Score: 84/100
• State rank: #35
• US rank: #705

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Deerfield, IL
• County: Lake County · 591,991 people
• City population: 28,096
• Metro: Chicago-Naperville-Elgin, IL-IN-WI
• Population (ZIP): 28,096
• Household income: $183,125
• Rent vs Own: 15.3% rent · 84.7% own
• Severe rent burden: 450.0

Population outlook (Lake County) Hauer SSP2

• Today (2025): 700,217 people
• By 2030: 693,290 · -1.0%
• By 2040: 673,588 · -3.8%
• By 2050: 643,556 · -8.1%
• By 2075: 562,792 · -19.6%
• By 2100: 457,715 · -34.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (84%)
• Race & ethnicity: White 84% Asian 8% Hispanic / Latino 5% Two or more races 3% Black 1%
• Common ancestry: Romanian 11% Scotch-Irish 10% Italian 4%
• Foreign-born: 14% · China, South Korea, Canada
• Languages at home: 82% English-only · Russian/Polish/Slavic 6% Other Indo-European 3% Spanish 3%

Political lean MEDSL · Lake

• 2024 margin: Strong D (+20.8) · D 59.7% · R 38.9% · Other 1.4%
• 2008→2024 swing: +1.1pp toward D · 2008: 19.6pp · 2024: 20.8pp
• All cycles: 2024: D+20.8 2020: D+24.1 2016: D+20.3 2012: D+8.1 2008: D+19.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -318.91%
• Current HPI: 184.8993
• Rent YoY: —
• 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

+212.0% since first listed

6 events — show timeline

• 2026-06-19 Listed $489,900 MRED as Distributed by MLS Grid
• 2020-08-06 Sold (Public Records) $331,500 Public Records
• 2020-08-03 Sold (MLS) $331,500 MRED as Distributed by MLS Grid
• 2020-06-08 Pending — MRED as Distributed by MLS Grid
• 2020-06-01 Listed $325,000 MRED as Distributed by MLS Grid
• 1996-10-03 Sold (Public Records) $157,000 Public Records

Property tax history

+2.8%/yr

Latest (2024): $8,295 · +2.5% YoY. Source: county tax records.