523 N Pleasant Dr Unit 2A · Glenwood, IL 60425

$150,900

2 bd · 1.5 ba · 1,300 sqft · Condo · 43 Days on market

$306/mo HOA · 11% of rent

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Why this score? — see what drove the B- 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.3/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.4/10.0
• Appreciation +0.0/10.0

Listing remarks

Remodeled, spacious 2nd floor end unit with new appliances waiting for the new owner to move in! Heating, water, common insurance are included in assessments. Taxes do not reflect homeowners exemption. Convenient location, close to stores, restaurants, banks and not far from the expressway.

Key facts

• Remodeled
• New appliances
• Convenient location

Tags

• REMODELED
• NEW APPLIANCES
• CONVENIENT LOCATION

Property features AI

Finance

• Financial info: Special service area: No
• HOA & community: Monthly association fee of $306; HOA covers heat, water, parking, insurance, exterior maintenance, lawn care, scavenger, and snow removal; Pets allowed (cats and dogs) with limits; maximum pet weight 40 lbs

Exterior

• Parking: One parking space
• Utilities: Water: Lake Michigan / Public; Sewer: Public sewer
• Home design: Attached single condo; Entry level is the second floor; Part of a 4-unit building; Property rehab completed in 2026
• Construction: Brick construction; Building age approximately 31–40 years; Not built before 1978
• Exterior features: Common lot; Lot size reported by owner

Interior

• Kitchen: Kitchen with eating area / table space (second level, 9 x 8)
• Bedrooms: Master bedroom on second level (15 x 13) with half bath; Second bedroom on second level (13 x 12); Additional bedrooms (two other bedroom listings present)
• Bathrooms: One full bathroom; One half bathroom
• Heating & cooling: Electric heating; Electric cooling
• Interior features: Five total rooms; Unfinished basement with walk-out access
• Laundry & utility: Laundry room in basement (25 x 15)

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath condo listed at $151k.

Deal economics

• At list price, monthly cash flow is $663 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $151k).
• Recommended offer: $146k (3.0% below list) — sets the bar for market timing.
• Cap rate 11.6% vs local median 8.0% in Glenwood — 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 66/100 on livability (#545 in IL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, employment B; Watch: health & safety D+, amenities F, commute F.
• Homewood Flossmoor Chsd 233 (suburban): math 21% / reading 27% proficiency, ranked #272 of 620 in IL (top 44%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Homewood-Flossmoor High School (math 21% / reading 27%, grade F, #304 of 693 statewide, top 44%, 2,798 students, 0% FRL).
• Market conditions: 53 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); 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 $5k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $42k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 43 days — a 3% lower offer ($146k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $67k; list at $151k implies a 125% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 3.7% of price.

Recommended offer $146,373 (3.0% below list)

Questions for the listing agent

1. It's been on market 43 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. 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?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
7. 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.
8. 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.
9. 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: 1.92% ✓
• Cap rate: 11.57%
• Cash-on-cash: 18.84%
• DSCR: 1.84
• GRM: 4.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 10.9%
• Equity multiple: 1.43×
• Total profit: $18,207
• Equity at exit: $22,500

10-year hold

• IRR: 20.1%
• Equity multiple: 2.70×
• Total profit: $71,906
• Equity at exit: $13,047

Cash invested: $42,252 (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 60425

• Home prices YoY: -10.6%
• Active inventory: 53
• Price-to-rent: 4.3×

Monthly cashflow live

• Estimated rent: $2,902 medium
• Mortgage (P&I): −$791
• Tax from tax record: −$469 /mo · $5,632/yr
• Insurance: −$63
• HOA: −$306
• Vacancy / Maint / Mgmt: −$610
• Net cashflow: $663

Break-even live

Break-even rent $2,063

Max offer price $150,900

Occupancy floor 72%

Sensitivity live

Price	-10% $749	-5% $706	+0% $663	+5% $621	+10% $578
Rent	-10% $434	-5% $549	+0% $663	+5% $778	+10% $893
Rate	-1.0pp $739	-0.5pp $702	base $663	+0.5pp $624	+1.0pp $585

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: $37,725
• Closing costs: $4,527
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
705 W Fitzhenry Ct Glenwood, IL	3.0	2.0	1700	$2,950	$1.74	25d	1	0.20mi
705 W Fitzhenry Ct Glenwood, IL	3.0	2.0	1600	$2,950	$1.84	20d	1	0.20mi
208 Blackstone St Thornton, IL	2.0	1.5	923	$2,200	$2.38	2d	1	1.34mi
1601 183rd St Unit 1237861P Homewood, IL	3.0	1.5	1528	$8,665	$5.67	22d	1	1.49mi

HOA detail condo

• Monthly dues: $306 · $3,672/yr
• Likely covers: water
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 16 events

1. 2026-06-18
   days on market $150,900 Active 43 DOM
2. 2026-06-17
   days on market $150,900 Active 42 DOM
3. 2026-06-16
   days on market $150,900 Active 41 DOM
4. 2026-06-15
   pricedays on market $150,900 Active 40 DOM
5. 2026-06-13
   days on market $155,900 Active 38 DOM
6. 2026-06-09
   days on market $155,900 Active 34 DOM
7. 2026-06-08
   days on market $155,900 Active 33 DOM
8. 2026-06-07
   days on market $155,900 Active 32 DOM
9. 2026-06-04
   days on market $155,900 Active 29 DOM
10. 2026-06-03
    days on market $155,900 Active 28 DOM
11. 2026-06-02
    days on market $155,900 Active 27 DOM
12. 2026-06-01
    days on market $155,900 Active 26 DOM
13. 2026-05-31
    days on market $155,900 Active 25 DOM
14. 2003-10-30
    soldstatus $67,000
15. 1999-06-30
    soldstatus $59,000
16. 1986-12-01
    soldstatus $42,300

ⓘ 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: $5,632 · $469/mo
• Projected year-2 tax: $5,632 · $469/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 ≥101°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $34,830
• − Mortgage interest: −$8,453
• − Property taxes: −$5,632
• − Insurance: −$754
• − Repairs & maintenance: −$2,786
• − Management: −$2,786
• − HOA: −$3,672
• − Depreciation: −$4,390
• Taxable income: $6,356
• Est. tax owed @ 24.0%: −$1,525
• After-tax cash flow: $6,436/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: Homewood Flossmoor Chsd 233
• NCES district ID: 1719560
• Math proficiency: 21% ▼ -15.00%
• Reading proficiency: 27% ▼ -13.00%
• Median HH income: $83,564
• Composite: 24.42/100
• National rank: #7681
• State rank: #272 of 620 in IL

Livability — Glenwood

• Score: 66/100
• State rank: #545
• US rank: #11292

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Glenwood, IL
• City population: 8,730
• Population (ZIP): 8,730

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: Predominantly Black (68%)
• Race & ethnicity: Black 68% White 22% Hispanic / Latino 6% Two or more races 4%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Romanian 3% Iranian 1% Lithuanian 1%
• Foreign-born: 3% · Canada
• Languages at home: 95% English-only · Spanish 4%

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: ▼ -37.24%
• Current HPI: 314.1777
• Rent YoY: —
• Metro: —
• 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

+58.4% since first listed

3 events — show timeline

• 2003-10-30 Sold (Public Records) $67,000 Public Records
• 1999-06-30 Sold (Public Records) $59,000 Public Records
• 1986-12-01 Sold (Public Records) $42,300 Public Records

Property tax history

+6.0%/yr

Latest (2023): $5,632 · +169.7% YoY. Source: county tax records.