1323 Gunderson Ave · Berwyn, IL 60402

$580,000

9 bd · 3.0 ba · — sqft · MultiFamily · 6 Days on market

Built 1916 Excellent condition 3,484 sqft lot

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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 +21.3/30.0
• ARV discount +7.5/15.0
• DSCR +6.8/10.0
• 1% rule +5.6/10.0
• Condition / age +4.8/5.0
• Livability +4.2/5.0
• Rent growth +3.6/5.0
• Schools +1.1/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 3 units. confirmed

Listing remarks

Welcome to 1323 Gunderson Ave, an exceptional opportunity to own a fully renovated 3-unit building in the heart of Berwyn. Each spacious unit features its own private entrance, 3 bedrooms, 1 full bathroom, tall ceilings, abundant natural light, and thoughtfully updated finishes throughout. A comprehensive 2020 renovation transformed the property with all new electrical, plumbing, HVAC systems with a separate furnace and central A/C for each unit, individual water heaters, new windows, insulation, drywall, lighting, and fully remodeled kitchens and bathrooms. Additional building upgrades include hardwired smoke/CO detectors, emergency lighting, drain tile and sump pump system, backflow preve

Key facts

• Fully renovated
• New plumbing
• Updated finishes

Tags

• FULLY RENOVATED
• PRIVATE ENTRANCE
• UPDATED FINISHES
• NEW ELECTRICAL
• NEW PLUMBING
• NEW HVAC SYSTEMS

What this means for you Summary

Snapshot

• This is a 3 × 3-bed/1.0-bath units multifamily listed at $580k. Condition is rated excellent.

Deal economics

• At list price, monthly cash flow is $854 ($10k/yr) — positive. Per door: $285/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($6k rent vs $580k).
• Cap rate 8.1% vs local median 3.1% in Berwyn — 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 (#46 in IL, #966 nationally) — a professional / high-income tenant draw. Strengths: commute A+, housing A+, crime A; Watch: schools D-.
• J S Morton Hsd 201 (suburban): math 9% / reading 14% proficiency, ranked #557 of 620 in IL (top 90%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: Rents rising fast (+4.6%/yr); 126 active listings in the ZIP; solid renter incomes; 6,272 units permitted in Cook County in 2024 (4,658 in 5+ unit buildings).
• At $6,155/mo this rent would consume 95% of the median local household income ($78k/yr) (locally 1998% 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 $4k of loan paydown is wiped out by about $17k of value loss. Plan a longer hold.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1916 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $580,000

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1916 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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 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: 1.06% ✓
• Cap rate: 8.06%
• Cash-on-cash: 6.31%
• DSCR: 1.28
• GRM: 7.9

CMA / ARV

No comps found within radius.

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1820 Gunderson Ave	0.50mi	9/3.0	—	6mo	$710,000	—	59
1134 S Oak Park Ave S	0.51mi	8/3.0 (-1)	—	4mo	$655,000	—	55
1221 S Lombard Ave	0.40mi	8/3.0 (-1)	—	14mo	$519,000	—	52
1841 S 61st Ct	0.71mi	8/3.0 (-1)	—	1mo	$490,000	—	49
1135 S Oak Park Ave	0.53mi	8/6.0 (-1)	4,508	3mo	$820,000	$182	43
1900 Harvey Ave	0.66mi	8/4.0 (-1)	—	6mo	$650,550	—	43
1236 S 59th Ave	0.74mi	8/3.0 (-1)	—	10mo	$412,500	—	40
1430 S Austin Blvd	0.62mi	8/4.0 (-1)	—	14mo	$600,000	—	38
1344 S Austin Blvd	0.60mi	10/5.0 (+1)	6,000	16mo	$540,000	$90	34
2109 Gunderson Ave	0.72mi	9/3.5	—	22mo	$530,000	—	33
1922 Elmwood Ave	0.65mi	8/3.0 (-1)	—	23mo	$263,500	—	33
1909 Oak Park Ave	0.71mi	10/5.0 (+1)	4,747	14mo	$628,000	$132	30

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 · 4.57% rent growth · sell at horizon

5-year hold

• IRR: -4.8%
• Equity multiple: 0.82×
• Total profit: $-29,613
• Equity at exit: $86,480

10-year hold

• IRR: 6.6%
• Equity multiple: 1.53×
• Total profit: $86,485
• Equity at exit: $50,148

Cash invested: $162,400 (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 60402

• Rents YoY: 4.6%
• Active inventory: 126
• Price-to-rent: 23.6×

Monthly cashflow live

• Estimated rent: $6,155 high
• Mortgage (P&I): −$3,042
• Tax est. 1.5%: −$725 /mo · $8,700/yr
• Insurance: −$242
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,293
• Net cashflow: $854

Break-even live

Break-even rent $5,074

Max offer price $580,000

Occupancy floor 81%

Sensitivity live

Price	-10% $1,255	-5% $1,055	+0% $854	+5% $654	+10% $453
Rent	-10% $368	-5% $611	+0% $854	+5% $1,097	+10% $1,340
Rate	-1.0pp $1,146	-0.5pp $1,002	base $854	+0.5pp $704	+1.0pp $551

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

Units	Beds	Baths	Est. rent
▸ 3× units	3	1	$6,156
Total (3 units)			$6,155

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: $145,000
• Closing costs: $17,400
• Reserves months: —
• Total cash needed: —

Listing history 8 events

1. 2026-06-21
   days on market $580,000 Active 6 DOM
2. 2026-06-18
   days on market $580,000 Active 3 DOM
3. 2026-06-17
   days on market $580,000 Active 2 DOM
4. 2026-06-15
   statusdays on marketlisting id $580,000 Active 1 DOM
5. 2026-06-09
   days on market $580,000 Active (Private) 3 DOM
6. 2026-06-08
   days on market $580,000 Active (Private) 2 DOM
7. 2026-06-07
   remarks 699-char remark
8. 2026-06-07
   listed $580,000 Active (Private) 1 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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: $73,860
• − Mortgage interest: −$32,489
• − Property taxes: −$8,700
• − Insurance: −$2,900
• − Repairs & maintenance: −$5,909
• − Management: −$5,909
• − Depreciation: −$16,873
• Taxable income: $1,081
• Est. tax owed @ 24.0%: −$259
• After-tax cash flow: $9,991/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.

Condition & rehab AI · 13 photos

Excellent 95/100 None rehab

This fully renovated 3-unit building in Berwyn, IL is move-in ready with modern updates and excellent condition. It offers a great opportunity for investors looking to capitalize on the area's growth.

Value-add opportunities

• Both Landscaping and curb appeal improvements — Enhances the home's aesthetic and appeal to potential buyers and renters.
• Both Painting or staining the exterior — Maintains the home's curb appeal and enhances its value.
• Resale Upgrading the kitchen appliances — Modernizes the kitchen and improves its functionality for potential buyers.
• Resale Upgrading the bathroom fixtures — Enhances the bathroom's functionality and appeal for potential buyers.

Renovation cost estimate screening

Value-add ROI direction

• Both Landscaping and curb appeal improvements — Enhances the home's aesthetic and appeal to potential buyers and renters. ↑
• Both Painting or staining the exterior — Maintains the home's curb appeal and enhances its value. ↑
• Resale Upgrading the kitchen appliances — Modernizes the kitchen and improves its functionality for potential buyers. ↑
• Resale Upgrading the bathroom fixtures — Enhances the bathroom's functionality and appeal for potential buyers. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: J S Morton Hsd 201
• NCES district ID: 1726880
• Math proficiency: 9% ▲ 1.00%
• Reading proficiency: 14% ▼ -1.00%
• Median HH income: $48,698
• Composite: 10.73/100
• National rank: #9768
• State rank: #557 of 620 in IL

Livability — Berwyn

• Score: 83/100
• State rank: #46
• US rank: #966

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Berwyn, IL
• County: Cook County · 4,486,803 people
• City population: 63,721
• Metro: Chicago-Naperville-Elgin, IL-IN-WI
• Population (ZIP): 63,721
• Household income: $77,718
• Rent vs Own: 36.1% rent · 63.9% own
• Severe rent burden: 1998.0

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 0.55)
• Race & ethnicity: Hispanic / Latino 61% White 27% Two or more races 19% Black 7% Asian 4% Native American 1%
• Hispanic origin (detail): Mexican 47% Puerto Rican 8%
• Common ancestry: Romanian 7% Italian 1% Lithuanian 0%
• Foreign-born: 23% · Canada, Vietnam, Jamaica
• Languages at home: 47% English-only · Spanish 47% Tagalog/Filipino 2% Other Indo-European 1%

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: ▼ -318.33%
• Current HPI: 236.662
• Rent YoY: ▲ 4.57%
• 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

1 event — show timeline

• 2026-06-06 Coming Soon $580,000 MRED as Distributed by MLS Grid