2012 Dobson St · Evanston, IL 60202

$199,900

3 bd · 1.5 ba · 1,174 sqft · SingleFamily public records · 4 Days on market

Built 1951 4,375 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 +17.8/30.0
• ARV discount +7.5/15.0
• 1% rule +7.3/10.0
• DSCR +5.6/10.0
• Schools +4.5/10.0
• Livability +4.2/5.0
• Rent growth +3.6/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Well maintained home located on a dead end street close to transp, shopping & parks. This home has an updated eat in kitchen, newer furnace, recent tear-off roof, fireplace, hardwood flrs, 2 1/2 car garage, 2 BR & full bth on 1st flr. Office space on 2nd floor plus bedroom 1/2 bath & walk-in closet. Basement offers a spacious recreation rm., utility room & storage. Hardwood floors & kitchen greenhouse window too!

Key facts

• 4,375 sq ft lot
• 2 garage spots
• Built 1951

Property features AI

Finance

• HOA & community: No master association fee required

Exterior

• Parking: Detached garage with garage door opener (2 garage spaces, 2 total parking spaces)
• Utilities: Public water; Public sewer
• Home design: Detached single-family home; 1.5-story design; Fee simple ownership
• Construction: Brick construction; Estimated age 71–80 years; Built before 1978
• Exterior features: Lot dimensions approximately 35 x 125; Lot smaller than 0.25 acre; Off-alley access

Interior

• Kitchen: Kitchen with eating area/table space (8 x 16) and ceramic tile flooring
• Bedrooms: Master bedroom on main level (11 x 11) with hardwood flooring; Second bedroom on main level (10 x 14) with hardwood flooring; Third bedroom on second level (13 x 13) with carpet
• Flooring: Hardwood flooring in primary areas; Carpet in some bedrooms and living areas; Ceramic tile in the kitchen
• Bathrooms: One full bathroom; One half bathroom
• Heating & cooling: Natural gas forced-air heating; Central air conditioning
• Interior features: Seven total rooms; Partially finished full basement; Wood-burning fireplace in the living room
• Laundry & utility: Dedicated laundry room

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $200k.

Deal economics

• At list price, monthly cash flow is $166 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $200k).
• Cap rate 7.3% vs local median 2.9% in Evanston — 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 85/100 on livability (#26 in IL, #464 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, employment A+; Watch: cost of living F.
• Evanston Twp Hsd 202 (urban): math 47% / reading 52% proficiency, ranked #54 of 620 in IL (top 9%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Evanston Twp High School (math 47% / reading 52%, grade D, #44 of 693 statewide, top 7%, 3,691 students, 0% FRL).
• Market conditions: Rents rising fast (+4.3%/yr); 72 active listings in the ZIP; 27 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 13y 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.

Risks & watch-outs

• Watch-outs: property tax is 3.9% of price; built in 1951 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $199,900

Questions for the listing agent

1. Built in 1951 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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. 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 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: 1.23% ✓
• Cap rate: 7.29%
• Cash-on-cash: 3.56%
• DSCR: 1.16
• GRM: 6.8

CMA / ARV

• ARV (on-the-fly): $440,250
• Comps found: 9

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2012 Dobson St	0.00mi	3/1.5	1,174 (0%)	1mo	$302,100	$257	99
2109 Dobson St	0.05mi	3/2.0	1,181 (+1%)	1mo	$540,000	$457	94
3030 W Jarvis Ave	0.36mi	3/2.5	1,224 (+4%)	16mo	$530,000	$433	59
7323 N California Ave	0.39mi	4/2.0 (+1)	1,200 (+2%)	15mo	$450,000	$375	59
309 Darrow Ave	0.31mi	2/1.0 (-1)	1,059 (-10%)	7mo	$382,000	$361	56
301 Darrow Ave	0.30mi	3/2.0	1,300 (+11%)	19mo	$485,000	$373	50
1923 Warren St	0.54mi	3/1.5	1,329 (+13%)	10mo	$599,900	$451	44
2716 W Fitch Ave	0.62mi	3/2.0	1,083 (-8%)	14mo	$490,000	$452	44
1407 Oakton St	0.69mi	4/2.0 (+1)	1,239 (+6%)	20mo	$342,500	$276	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 · 4.35% rent growth · sell at horizon

5-year hold

• IRR: -8.7%
• Equity multiple: 0.68×
• Total profit: $-18,147
• Equity at exit: $29,806

10-year hold

• IRR: 3.0%
• Equity multiple: 1.24×
• Total profit: $13,246
• Equity at exit: $17,284

Cash invested: $55,972 (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 60202

• Rents YoY: 4.3%
• Active inventory: 72
• Price-to-rent: 6.8×

Monthly cashflow live

• Estimated rent: $2,461 high
• Mortgage (P&I): −$1,048
• Tax from tax record: −$646 /mo · $7,756/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$517
• Net cashflow: $166

Break-even live

Break-even rent $2,250

Max offer price $199,900

Occupancy floor 88%

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: $49,975
• Closing costs: $5,997
• Reserves months: —
• Total cash needed: —

Rent comps 27 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2113 Seward St Evanston, IL	2.0	1.0	864	$3,400	$3.94	21d	1	0.67mi
611 Wesley Ave Unit 1 Evanston, IL	2.0	1.5	1200	$2,750	$2.29	24d	1	0.76mi
1605 Monroe St #4 Evanston, IL	2.0	1.0	800	$1,800	$2.25	21d	1	0.82mi
336 Ridge Ave #2 Evanston, IL	2.0	1.0	950	$2,250	$2.37	24d	1	0.83mi
243 Ridge Ave Evanston, IL	2.0	1.0	1200	$1,745	$1.45	24d	1	0.87mi
730 Wesley Ave Unit 2 Evanston, IL	2.0	1.0	1000	$3,200	$3.20	7d	1	0.90mi
419 Ridge Ave Unit L Evanston, IL	2.0	1.0	1000	$1,945	$1.95	24d	1	0.91mi
647 Asbury Ave Unit 2 Evanston, IL	2.0	2.0	1050	$2,595	$2.47	1d	1	0.91mi
1327 Washington St Unit 2 Evanston, IL	2.0	1.0	1200	$2,150	$1.79	10d	1	1.03mi
940 Pitner Ave Unit 2 Evanston, IL	2.0	1.0	1400	$2,400	$1.71	15d	1	1.08mi
940 Pitner Ave Unit 4 Evanston, IL	2.0	1.0	1400	$2,400	$1.71	24d	1	1.08mi
609 Oakton St Unit 3A Evanston, IL	3.0	2.0	1250	$2,250	$1.80	24d	1	1.21mi
907 Washington St Unit 1C Evanston, IL	2.0	1.0	1000	$1,745	$1.75	7d	1	1.24mi
100 Chicago Ave Evanston, IL	1.0–2.0	1.0–2.0	945	$2,995	$3.17	24d	3	1.26mi
415 W Howard St Evanston, IL	2.0	2.0	1133	$2,466	$2.18	12d	1	1.33mi
740 Main St Evanston, IL	2.0	2.0	596	$3,550	$5.95	24d	28	1.37mi
610 Hinman Ave Evanston, IL	1.0–3.0	1.0–2.0	912	$2,495	$2.73	6d	6	1.37mi
539 Hinman Ave Evanston, IL	2.0–3.0	1.0–2.0	1325	$2,995	$2.26	3d	2	1.37mi
555 Hinman Ave Evanston, IL	2.0	1.0	1050	$2,200	$2.10	15d	2	1.39mi
605 Hinman Ave Unit 3M Evanston, IL	3.0	2.0	1235	$2,495	$2.02	6d	1	1.40mi
605 Hinman Ave Unit 605-3M Evanston, IL	3.0	2.0	1235	$2,495	$2.02	7d	1	1.40mi
704 Hinman Ave Evanston, IL	1.0–2.0	1.0	850	$1,785	$2.10	24d	1	1.42mi
718 Hinman Ave Unit 18GD Evanston, IL	2.0	1.0	1100	$1,635	$1.49	24d	1	1.42mi
718 Hinman Ave Unit 21N2 Evanston, IL	2.0	1.0	1100	$1,695	$1.54	24d	1	1.42mi
718 Hinman Ave Unit 24E2 Evanston, IL	2.0	1.0	1100	$1,750	$1.59	24d	1	1.42mi
847 Chicago Ave Evanston, IL	3.0	1.0–2.0	962	$5,088	$5.29	1d	12	1.48mi
515 Main St #608 Evanston, IL	2.0	2.0	1200	$3,200	$2.67	21d	1	1.49mi

Listing history 7 events

1. 2026-05-13
   status Pending
2. 2026-05-09
   listed $199,900 Active
3. 2013-07-23
   soldstatus $225,000
4. 2013-06-27
   soldstatus $225,000 Closed Sale 436-char remark

   Show marketing remark (436 chars)

   Well maintained home located on a dead end street close to transp, shopping & parks. This home has an updated eat in kitchen, newer furnace, recent tear-off roof, fireplace, hardwood flrs, 2 1/2 car garage, 2 BR & full bth on 1st flr. Office space on 2nd floor plus bedroom 1/2 bath & walk-in closet. Basement offers a spacious recreation rm., utility room & storage. Hardwood floors & kitchen greenhouse window too!

5. 2013-05-24
   historical Contingent 436-char remark

   Show marketing remark (436 chars)

   Well maintained home located on a dead end street close to transp, shopping & parks. This home has an updated eat in kitchen, newer furnace, recent tear-off roof, fireplace, hardwood flrs, 2 1/2 car garage, 2 BR & full bth on 1st flr. Office space on 2nd floor plus bedroom 1/2 bath & walk-in closet. Basement offers a spacious recreation rm., utility room & storage. Hardwood floors & kitchen greenhouse window too!

6. 2013-05-20
   listed $255,000 New 436-char remark

   Show marketing remark (436 chars)

   Well maintained home located on a dead end street close to transp, shopping & parks. This home has an updated eat in kitchen, newer furnace, recent tear-off roof, fireplace, hardwood flrs, 2 1/2 car garage, 2 BR & full bth on 1st flr. Office space on 2nd floor plus bedroom 1/2 bath & walk-in closet. Basement offers a spacious recreation rm., utility room & storage. Hardwood floors & kitchen greenhouse window too!

7. 1999-09-23
   soldstatus $158,000

ⓘ 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: $7,756 · $646/mo
• Projected year-2 tax: $7,756 · $646/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 4/10 Moderate FEMA zone X (unshaded) · 22% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥98°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 5 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $29,529
• − Mortgage interest: −$11,198
• − Property taxes: −$7,756
• − Insurance: −$1,000
• − Repairs & maintenance: −$2,362
• − Management: −$2,362
• − Depreciation: −$5,815
• Taxable loss: −$964
• Est. tax savings @ 24.0%: +$231
• After-tax cash flow: $2,224/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: Evanston Twp Hsd 202
• NCES district ID: 1714490
• Math proficiency: 47% ▼ -3.00%
• Reading proficiency: 52% ▬ 0.00%
• Median HH income: $72,672
• Composite: 44.52/100
• National rank: #2794
• State rank: #54 of 620 in IL

Livability — Evanston

• Score: 85/100
• State rank: #26
• US rank: #464

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Evanston, IL
• County: Cook County · 4,486,803 people
• City population: 76,085
• Metro: Chicago-Naperville-Elgin, IL-IN-WI
• Population (ZIP): 32,341
• Household income: $98,989
• Rent vs Own: 41.9% rent · 58.1% own
• Severe rent burden: 784.0

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 0.65)
• Race & ethnicity: White 54% Black 18% Hispanic / Latino 14% Two or more races 11% Asian 8%
• Hispanic origin (detail): Mexican 8%
• Common ancestry: Romanian 8% Scotch-Irish 2% Portuguese 2%
• Foreign-born: 19% · Canada, Jamaica, Vietnam
• Languages at home: 73% English-only · Spanish 11% Other Indo-European 3% Russian/Polish/Slavic 2%

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: ▼ -245.25%
• Current HPI: 172.9605
• Rent YoY: ▲ 4.35%
• 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

+26.5% since first listed

7 events — show timeline

• 2026-05-13 Pending — MRED as Distributed by MLS Grid
• 2026-05-09 Listed $199,900 MRED as Distributed by MLS Grid
• 2013-07-23 Sold (Public Records) $225,000 Public Records
• 2013-06-27 Sold (MLS) $225,000 MRED as Distributed by MLS Grid
• 2013-05-24 Contingent — MRED as Distributed by MLS Grid
• 2013-05-20 Listed $255,000 MRED as Distributed by MLS Grid
• 1999-09-23 Sold (Public Records) $158,000 Public Records

Property tax history

+5.5%/yr

Latest (2023): $7,756 · -1.2% YoY. Source: county tax records.