6733 31st St · Berwyn, IL 60402

$424,900

4 bd · 3.0 ba · 2,130 sqft · MultiFamily public records · 54 Days on market

Built 1899 6,098 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 +22.2/30.0
• ARV discount +7.5/15.0
• DSCR +7.1/10.0
• 1% rule +6.7/10.0
• Livability +4.2/5.0
• Rent growth +3.6/5.0
• Condition / age +2.5/5.0
• 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: 1 unit. estimate disagrees with records

Listing remarks

Welcome to this beautifully updated 3-flat in the heart of Berwyn! This exceptional investment property combines modern updates with a prime location, making it an outstanding opportunity for both owner occupants and investors. The * * top-floor unit * * was completely renovated in 2023, showcasing a stunning new kitchen with sleek, on-trend finishes - including stylish cabinetry, marble-look countertops, and new appliances. Off of the kitchen, you will find a convenient butler's pantry. The bathroom was also reimagined with contemporary finishes, while the rest of the unit features stylish paint and refinished floors that enhance its charm and functionality. The * * main-floor unit *

Key facts

• 6,098 sq ft lot
• 2 garage spots
• Built 1899

Property features AI

Finance

• Other: Property is not a conversion and was not rebuilt; marked as rehabilitated in 2024
• Financial info: Building contains 3 units; Unit rents reported for one unit ($2,000) with security deposit ($1,900); other unit security deposit listed as $0; Tenants pay specified utilities/fees per unit (electric and, in one unit, parking)
• HOA & community: No special service area

Exterior

• Parking: Detached garage with garage door opener; Garage owned (2 garage spaces, 2 total parking spaces)
• Utilities: Public water; Public sewer
• Home design: Two- to four-unit building (three units total); Fee simple ownership; Building age over 100 years; Rehab completed in 2024
• Construction: Cedar exterior construction; Asphalt roof; Block foundation
• Exterior features: Curb, sidewalks, street lights, and paved street; Lot dimensions approximately 50 x 125

Interior

• Kitchen: Stove and refrigerator in each unit; Microwave in each unit; Dishwasher in one unit
• Bedrooms: Six bedrooms total (unit breakdown: 3 bedrooms on the 1st floor, 2 bedrooms on the 2nd floor, 1 bedroom in the 3rd unit)
• Flooring: Hardwood floors noted in one unit
• Bathrooms: Three full bathrooms total (each unit has one full bathroom)
• Heating & cooling: Natural gas heating; Window air conditioner(s) in one unit
• Interior features: Finished full basement; 12 total rooms; Three 3-bedroom units in the building (multi-unit property)
• Laundry & utility: Tenants pay electricity

What this means for you Summary

Snapshot

• This is a 4-bed/3.0-bath multifamily listed at $425k.

Deal economics

• At list price, monthly cash flow is $692 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $425k).
• Recommended offer: $412k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.2% 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.
• 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.
• Zoned schools: J Sterling Morton West High Sch (math 11% / reading 17%, grade F, #495 of 693 statewide, top 72%, 3,533 students, 0% FRL).
• Market conditions: Rents rising fast (+4.6%/yr); 123 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 6,272 units permitted in Cook County in 2024 (4,658 in 5+ unit buildings).
• At $4,976/mo this rent would consume 77% 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 $3k of loan paydown is wiped out by about $13k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 54 days — a 3% lower offer ($412k) is reasonable based on typical stale-listing flexibility.
• 21 sale attempts since 14y ago; this cycle's ask is 31% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $295k; 44% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1899 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $412,153 (3.0% below list)

Questions for the listing agent

1. It's been on market 54 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 1899 — 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: 1.17% ✓
• Cap rate: 8.25%
• Cash-on-cash: 6.98%
• DSCR: 1.31
• GRM: 7.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 4.57% rent growth · sell at horizon

5-year hold

• IRR: -3.6%
• Equity multiple: 0.86×
• Total profit: $-16,555
• Equity at exit: $63,354

10-year hold

• IRR: 7.9%
• Equity multiple: 1.65×
• Total profit: $77,195
• Equity at exit: $36,738

Cash invested: $118,972 (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: 123
• Price-to-rent: 21.3×

Monthly cashflow live

• Estimated rent: $4,976 medium
• Mortgage (P&I): −$2,228
• Tax from tax record: −$834 /mo · $10,009/yr
• Insurance: −$177
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,045
• Net cashflow: $692

Break-even live

Break-even rent $4,100

Max offer price $424,900

Occupancy floor 81%

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

Units	Beds	Baths	Est. rent
▸ 3× units	3	1.5	$4,977
Total (3 units)			$4,976

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: $106,225
• Closing costs: $12,747
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2432 Elmwood Ave Berwyn, IL	3.0	2.0	1657	$2,000	$1.21	18d	1	0.77mi
2103 Highland Ave #2 Berwyn, IL	3.0	1.0	2264	$1,995	$0.88	25d	1	1.27mi
112 E Quincy St Riverside, IL	3.0	2.0	1400	$2,950	$2.11	21d	1	1.27mi
1628 Euclid Ave Unit 1 Berwyn, IL	3.0	1.0	1500	$2,100	$1.40	25d	1	1.44mi
3633 S 57th Ct Cicero, IL	3.0	2.5	1708	$2,500	$1.46	21d	1	1.48mi

Listing history 50 events

1. 2026-06-04
   status $424,900 Pending 54 DOM
2. 2026-06-03
   days on market $424,900 Contingent - Continue to Show 54 DOM
3. 2026-06-02
   days on market $424,900 Contingent - Continue to Show 53 DOM
4. 2026-06-01
   days on market $424,900 Contingent - Continue to Show 52 DOM
5. 2026-05-31
   days on market $424,900 Contingent - Continue to Show 51 DOM
6. 2026-05-07
   historical Contingent - Continue to Show
7. 2026-04-09
   historical
8. 2026-03-23
   historical
9. 2026-02-07
   status Temporarily No Showings
10. 2026-01-06
    historical Contingent - Continue to Show
11. 2025-12-11
    status Active
12. 2025-11-15
    historical Contingent - Continue to Show
13. 2025-11-06
    listed Active
14. 2025-05-31
    historical
15. 2022-10-31
    historical
16. 2022-04-29
    status Active
17. 2022-04-29
    price
18. 2022-04-21
    historical
19. 2022-04-20
    status Temporarily No Showings
20. 2022-03-11
    historical Contingent - Continue to Show
21. 2022-03-04
    price
22. 2021-11-05
    listed Active
23. 2021-04-19
    soldstatus $295,000 Closed Sale
24. 2021-02-22
    status Contingent
25. 2021-01-09
    listed $325,000 New
26. 2021-01-05
    historical
27. 2020-12-16
    listed New
28. 2020-09-24
    historical
29. 2020-08-03
    listed New
30. 2020-08-03
    historical
31. 2020-04-04
    historical
32. 2020-03-09
    listed New
33. 2019-12-09
    historical
34. 2019-10-29
    status Reactivated
35. 2019-10-17
    historical Contingent
36. 2019-10-01
    listed New
37. 2016-08-15
    soldstatus $285,000
38. 2015-12-23
    historical
39. 2015-12-23
    listed New
40. 2015-12-22
    historical
41. 2015-12-05
    listed New
42. 2015-12-04
    historical
43. 2015-11-24
    price
44. 2015-11-04
    price
45. 2015-10-21
    price
46. 2015-10-08
    listed New
47. 2015-07-20
    soldstatus $135,000
48. 2013-02-22
    soldstatus $94,000
49. 2013-02-11
    soldstatus $93,900 Closed Sale
50. 2013-01-11
    status Pending

ⓘ 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: $10,009 · $834/mo
• Projected year-2 tax: $10,009 · $834/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 3/10 Moderate 7 d/yr ≥100°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 3 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $59,712
• − Mortgage interest: −$23,801
• − Property taxes: −$10,009
• − Insurance: −$2,124
• − Repairs & maintenance: −$4,777
• − Management: −$4,777
• − Depreciation: −$12,361
• Taxable income: $1,862
• Est. tax owed @ 24.0%: −$447
• After-tax cash flow: $7,853/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: 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

+136.0% since first listed

67 events — show timeline

• 2026-05-07 Contingent — MRED as Distributed by MLS Grid
• 2026-04-09 Listing Removed — MRED as Distributed by MLS Grid
• 2026-03-23 Listing Removed — MRED as Distributed by MLS Grid
• 2026-02-07 Relisted — MRED as Distributed by MLS Grid
• 2026-01-06 Contingent — MRED as Distributed by MLS Grid
• 2025-12-11 Relisted — MRED as Distributed by MLS Grid
• 2025-11-15 Contingent — MRED as Distributed by MLS Grid
• 2025-11-06 Listed — MRED as Distributed by MLS Grid
• 2025-05-31 Listing Removed — MRED as Distributed by MLS Grid
• 2022-10-31 Listing Removed — MRED as Distributed by MLS Grid
• 2022-04-29 Relisted — MRED as Distributed by MLS Grid
• 2022-04-29 Price Changed — MRED as Distributed by MLS Grid
• 2022-04-21 Listing Removed — MRED as Distributed by MLS Grid
• 2022-04-20 Relisted — MRED as Distributed by MLS Grid
• 2022-03-11 Contingent — MRED as Distributed by MLS Grid
• 2022-03-04 Price Changed — MRED as Distributed by MLS Grid
• 2021-11-05 Listed — MRED as Distributed by MLS Grid
• 2021-04-19 Sold (MLS) $295,000 MRED as Distributed by MLS Grid
• 2021-02-22 Pending — MRED as Distributed by MLS Grid
• 2021-01-09 Listed $325,000 MRED as Distributed by MLS Grid
• 2021-01-05 Listing Removed — MRED as Distributed by MLS Grid
• 2020-12-16 Listed — MRED as Distributed by MLS Grid
• 2020-09-24 Listing Removed — MRED as Distributed by MLS Grid
• 2020-08-03 Listing Removed — MRED as Distributed by MLS Grid
• 2020-08-03 Listed — MRED as Distributed by MLS Grid
• 2020-04-04 Listing Removed — MRED as Distributed by MLS Grid
• 2020-03-09 Listed — MRED as Distributed by MLS Grid
• 2019-12-09 Listing Removed — MRED as Distributed by MLS Grid
• 2019-10-29 Relisted — MRED as Distributed by MLS Grid
• 2019-10-17 Contingent — MRED as Distributed by MLS Grid
• 2019-10-01 Listed — MRED as Distributed by MLS Grid
• 2016-08-15 Sold (Public Records) $285,000 Public Records
• 2015-12-23 Listing Removed — MRED as Distributed by MLS Grid
• 2015-12-23 Listed — MRED as Distributed by MLS Grid
• 2015-12-22 Listing Removed — MRED as Distributed by MLS Grid
• 2015-12-05 Listed — MRED as Distributed by MLS Grid
• 2015-12-04 Listing Removed — MRED as Distributed by MLS Grid
• 2015-11-24 Price Changed — MRED as Distributed by MLS Grid
• 2015-11-04 Price Changed — MRED as Distributed by MLS Grid
• 2015-10-21 Price Changed — MRED as Distributed by MLS Grid
• 2015-10-08 Listed — MRED as Distributed by MLS Grid
• 2015-07-20 Sold (Public Records) $135,000 Public Records
• 2013-02-22 Sold (Public Records) $94,000 Public Records
• 2013-02-11 Sold (MLS) $93,900 MRED as Distributed by MLS Grid
• 2013-01-11 Pending — MRED as Distributed by MLS Grid
• 2012-12-23 Price Changed $93,000 MRED as Distributed by MLS Grid
• 2012-12-05 Price Changed $95,900 MRED as Distributed by MLS Grid
• 2012-12-03 Relisted — MRED as Distributed by MLS Grid
• 2012-11-11 Pending — MRED as Distributed by MLS Grid
• 2012-11-02 Price Changed $98,000 MRED as Distributed by MLS Grid
• 2012-10-30 Price Changed $109,000 MRED as Distributed by MLS Grid
• 2012-10-24 Relisted — MRED as Distributed by MLS Grid
• 2012-10-18 Pending — MRED as Distributed by MLS Grid
• 2012-09-26 Relisted — MRED as Distributed by MLS Grid
• 2012-09-25 Listing Removed — MRED as Distributed by MLS Grid
• 2012-07-30 Relisted — MRED as Distributed by MLS Grid
• 2012-07-30 Price Changed $109,900 MRED as Distributed by MLS Grid
• 2012-07-13 Pending — MRED as Distributed by MLS Grid
• 2012-06-28 Relisted — MRED as Distributed by MLS Grid
• 2012-04-25 Pending — MRED as Distributed by MLS Grid
• 2012-04-15 Price Changed $114,900 MRED as Distributed by MLS Grid
• 2012-03-09 Listed $125,900 MRED as Distributed by MLS Grid
• 2011-10-28 Listing Removed — MRED as Distributed by MLS Grid
• 2007-07-30 Sold (Public Records) $330,000 Public Records
• 2005-02-15 Sold (Public Records) $276,000 Public Records
• 2002-10-30 Sold (Public Records) $232,500 Public Records
• 1998-03-03 Sold (Public Records) $125,000 Public Records

Property tax history

+2.8%/yr

Latest (2023): $10,009 · +15.1% YoY. Source: county tax records.