7650 W Altgeld St #415 · Elmwood Park, IL 60707

$149,900

1 bd · 1.0 ba · 782 sqft · Condo · 59 Days on market

Built 1970 $192/sqft · at area comps Est $153k · at est. $290/mo HOA · 17% of rent

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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 +12.3/30.0
• ARV discount +8.3/15.0
• 1% rule +6.2/10.0
• Rent growth +4.3/5.0
• Livability +4.2/5.0
• DSCR +3.7/10.0
• Condition / age +2.5/5.0
• Schools +1.9/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

SUNNY & BRIGHT 1BDRM 1BTH CONDO. List Broker/Seller make no guarantees/rep to accuracy of info in MLS shown reliable-NOT GUARANTEED!No Survey-100% tax prorate.Sold AS-IS/Buyer to research-verify IF any city violations exist or if rentable. This property is eligible under the Freddie Mac First Look Initiative through 8/13/2014 Investors AFTER may buy.

Key facts

• Steps to metra
• Elevator building
• $290 HOA

Tags

• DOWNTOWN ELMWOOD PARK
• ELEVATOR BUILDING
• STEPS TO METRA

Property features AI

Finance

• Other: 60 units in the building; Living area source: assessor; Not currently leased; Directions: Fullerton to 77th Ave, north to Altgeld
• Financial info: Homeowner tax exemption
• HOA & community: Monthly association fee of $290; Association fee includes heat, water, gas, parking, insurance, exterior maintenance, lawn care, scavenger and snow removal; On-site coin laundry and storage available; Manager off-site; Pets allowed (cats and dogs); large maximum pet weight allowed

Exterior

• Parking: 1 parking space in a parking lot; Parking included in association
• Utilities: Lake Michigan water source; Public sewer; Electric with circuit breakers
• Home design: Attached single (condo); Entry level 4; Condo ownership
• Construction: Brick construction; Asphalt roof; Concrete perimeter foundation; Built 51–60 years ago; Built before 1978
• Exterior features: Common grounds

Interior

• Kitchen: Galley-style kitchen; Kitchen on main level
• Bedrooms: 1 bedroom (master bedroom on main level); Additional bedrooms listed (Bedroom 2, Bedroom 3, Bedroom 4)
• Flooring: Laminate flooring in living room, kitchen, dining room, and master bedroom
• Bathrooms: 1 full bathroom
• Heating & cooling: Natural gas heating with baseboard; Wall-mounted cooling unit(s)
• Interior features: 4 total rooms; Dining room combined with living room; All windows have treatments
• Laundry & utility: Laundry room in basement (10 x 12)

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $150k.

Deal economics

• At list price, monthly cash flow is $-27 ($-327/yr) — negative.
• To cash-flow at today's rent, offer at most $145k (3.2% below list).
• Meets the 1% rule at list price ($2k rent vs $150k).
• Recommended offer: $145k (3.2% below list) — sets the bar for cash-flow.
• Cap rate 6.1% 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-.
• 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.
• Zoned schools: Elmwood Elem School (math 14% / reading 22%, grade F, #1,126 of 2,056 statewide, top 55%, 544 students, 0% FRL); Elm Middle School (math 13% / reading 30%, grade F, #402 of 665 statewide, top 61%, 660 students, 0% FRL); Elmwood Park High School (math 24% / reading 26%, grade F, #247 of 693 statewide, top 36%, 989 students, 0% FRL) — zoned schools average 0% FRL vs 42% district-wide (42 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: Rents rising fast (+7.2%/yr); 59 active listings in the ZIP; 18 comparable units currently listed for rent nearby; rentals at typical pace (median 20d 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 $4k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 59 days — a 3% lower offer ($145k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 13y ago; this cycle's ask is 200% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $125k; 20% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $145,081 (3.2% 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. It's been on market 59 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
3. Built in 1970 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. 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.
10. 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.
11. 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: 1.12% ✓
• Cap rate: 6.07%
• Cash-on-cash: -0.78%
• DSCR: 0.97
• GRM: 7.5

CMA / ARV

• ARV (median comp): $152,786
• List price: $149,900
• Delta: -1.89%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -11.5%
• Equity multiple: 0.56×
• Total profit: $-18,421
• Equity at exit: $22,351

10-year hold

• IRR: 4.1%
• Equity multiple: 1.37×
• Total profit: $15,682
• Equity at exit: $12,961

Cash invested: $41,972 (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 60707

• Rents YoY: 7.2%
• Active inventory: 59
• Price-to-rent: 7.5×

Monthly cashflow live

• Estimated rent: $1,673 high
• Mortgage (P&I): −$786
• Tax from tax record: −$211 /mo · $2,529/yr
• Insurance: −$62
• HOA: −$290
• Vacancy / Maint / Mgmt: −$351
• Net cashflow: $-27

Break-even live

Break-even rent $1,708

Max offer price $145,081

Occupancy floor 97%

Sensitivity live

Price	-10% $58	-5% $15	+0% $-27	+5% $-70	+10% $-112
Rent	-10% $-159	-5% $-93	+0% $-27	+5% $39	+10% $105
Rate	-1.0pp $48	-0.5pp $11	base $-27	+0.5pp $-66	+1.0pp $-106

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: $37,475
• Closing costs: $4,497
• Reserves months: —
• Total cash needed: —

Rent comps 18 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
7709 W Marwood Ave Unit 3S Elmwood Park, IL	2.0	1.0	750	$1,995	$2.66	26d	1	0.07mi
2402 N 76th Ct Unit G Elmwood Park, IL	2.0	1.0	850	$1,700	$2.00	9d	1	0.10mi
2412 N 76th Ave Unit 3W Elmwood Park, IL	2.0	1.0	700	$1,600	$2.29	46d	1	0.12mi
2446 N 78th Ct Unit 2R Elmwood Park, IL	2.0	1.0	730	$1,695	$2.32	20d	1	0.23mi
7901 W Grand Ave Unit 1S Elmwood Park, IL	1.0	1.0	700	$1,250	$1.79	5d	1	0.31mi
2714 N 74th Ct Unit 1W Elmwood Park, IL	2.0	1.0	850	$1,695	$1.99	20d	1	0.41mi
2805 N 75th Ct Unit 3A Elmwood Park, IL	2.0	2.0	1050	$2,400	$2.29	45d	1	0.44mi
2242 73rd Ave Unit GE Elmwood Park, IL	2.0	1.0	1000	$1,600	$1.60	26d	1	0.53mi
2336 N 72nd Ct Elmwood Park, IL	2.0	1.0	990	$1,640	$1.66	26d	1	0.55mi
2310 N Harlem Ave Apt 304 Elmwood Park, IL	2.0	1.0	950	$1,750	$1.84	45d	1	0.62mi
2300 N Harlem Ave Elmwood Park, IL	1.0–2.0	1.0–2.0	850	$1,375	$1.62	4d	11	0.64mi
8000 Oconnor Dr River Grove, IL	1.0–2.0	1.5–2.0	1167	$2,650	$2.27	0d	1	0.77mi
7201 W Wellington Ave Unit 3G Elmwood Park, IL	1.0	1.0	700	$1,450	$2.07	19d	1	0.86mi
2453 1st Ave River Grove, IL	1.0–2.0	1.0	650	$1,350	$2.08	1d	1	0.88mi
8001 Belmont Ave River Grove, IL	1.0–3.0	1.0–3.0	1030	$2,350	$2.28	7d	20	0.97mi
7234 W North Ave #508 Elmwood Park, IL	1.0	1.0	750	$1,600	$2.13	9d	1	1.21mi
1619 N Neva Ave Chicago, IL	1.0–3.0	1.0–2.5	1654	$2,075	$1.25	4d	41	1.30mi
2112 N Nashville Ave Chicago, IL	2.0–4.0	2.0–3.0	1482	$2,639	$1.78	5d	15	1.49mi

HOA detail condo

• Monthly dues: $290 · $3,480/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 29 events

1. 2026-06-21
   days on market $149,900 Active 59 DOM
2. 2026-06-18
   days on market $149,900 Active 56 DOM
3. 2026-06-17
   days on market $149,900 Active 55 DOM
4. 2026-06-16
   days on market $149,900 Active 54 DOM
5. 2026-06-15
   days on market $149,900 Active 53 DOM
6. 2026-06-13
   days on market $149,900 Active 51 DOM
7. 2026-06-13
   days on market $149,900 Active 50 DOM
8. 2026-06-09
   days on market $149,900 Active 47 DOM
9. 2026-06-08
   days on market $149,900 Active 46 DOM
10. 2026-06-07
    days on market $149,900 Active 45 DOM
11. 2026-06-04
    days on market $149,900 Active 42 DOM
12. 2026-06-03
    days on market $149,900 Active 41 DOM
13. 2026-06-02
    days on market $149,900 Active 40 DOM
14. 2026-06-01
    days on market $149,900 Active 39 DOM
15. 2026-05-31
    days on market $149,900 Active 38 DOM
16. 2025-07-15
    soldstatus $125,000
17. 2020-12-18
    historical
18. 2020-12-16
    listed New
19. 2014-08-25
    soldstatus $42,500 Closed Sale

    Show marketing remark (356 chars)

    SUNNY & BRIGHT 1BDRM 1BTH CONDO. List Broker/Seller make no guarantees/rep to accuracy of info in MLS shown reliable-NOT GUARANTEED!No Survey-100% tax prorate.Sold AS-IS/Buyer to research-verify IF any city violations exist or if rentable. This property is eligible under the Freddie Mac First Look Initiative through 8/13/2014 Investors AFTER may buy.

20. 2014-07-26
    historical Contingent

    Show marketing remark (356 chars)

    SUNNY & BRIGHT 1BDRM 1BTH CONDO. List Broker/Seller make no guarantees/rep to accuracy of info in MLS shown reliable-NOT GUARANTEED!No Survey-100% tax prorate.Sold AS-IS/Buyer to research-verify IF any city violations exist or if rentable. This property is eligible under the Freddie Mac First Look Initiative through 8/13/2014 Investors AFTER may buy.

21. 2014-06-24
    listed $49,900 New

    Show marketing remark (356 chars)

    SUNNY & BRIGHT 1BDRM 1BTH CONDO. List Broker/Seller make no guarantees/rep to accuracy of info in MLS shown reliable-NOT GUARANTEED!No Survey-100% tax prorate.Sold AS-IS/Buyer to research-verify IF any city violations exist or if rentable. This property is eligible under the Freddie Mac First Look Initiative through 8/13/2014 Investors AFTER may buy.

22. 2014-04-20
    historical
23. 2013-05-02
    historical Contingent
24. 2013-04-17
    listed New
25. 2001-04-27
    soldstatus $80,000
26. 1992-11-02
    soldstatus $50,000
27. 1992-10-14
    soldstatus $45,000
28. 1984-07-03
    soldstatus $40,500
29. 1984-06-01
    soldstatus $40,500

ⓘ 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: $2,529 · $211/mo
• Projected year-2 tax: $2,966 · $247/mo
• Expected delta: +$437/yr (+$36/mo · 17.3%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 69% 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: $20,082
• − Mortgage interest: −$8,397
• − Property taxes: −$2,529
• − Insurance: −$750
• − Repairs & maintenance: −$1,607
• − Management: −$1,607
• − HOA: −$3,480
• − Depreciation: −$4,361
• Taxable loss: −$2,648
• Est. tax savings @ 24.0%: +$635
• After-tax cash flow: $308/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

+208.6% since first listed

14 events — show timeline

• 2025-07-15 Sold (Public Records) $125,000 Public Records
• 2020-12-18 Listing Removed — MRED as Distributed by MLS Grid
• 2020-12-16 Listed — MRED as Distributed by MLS Grid
• 2014-08-25 Sold (MLS) $42,500 MRED as Distributed by MLS Grid
• 2014-07-26 Contingent — MRED as Distributed by MLS Grid
• 2014-06-24 Listed $49,900 MRED as Distributed by MLS Grid
• 2014-04-20 Listing Removed — MRED as Distributed by MLS Grid
• 2013-05-02 Contingent — MRED as Distributed by MLS Grid
• 2013-04-17 Listed — MRED as Distributed by MLS Grid
• 2001-04-27 Sold (Public Records) $80,000 Public Records
• 1992-11-02 Sold (Public Records) $50,000 Public Records
• 1992-10-14 Sold (Public Records) $45,000 Public Records
• 1984-07-03 Sold (Public Records) $40,500 Public Records
• 1984-06-01 Sold (Public Records) $40,500 Public Records

Property tax history

+5.2%/yr

Latest (2023): $2,529 · +3.1% YoY. Source: county tax records.