7234 W North Ave #1113 · Elmwood Park, IL 60707

$89,500

1 bd · 1.0 ba · 700 sqft · Condo public records · 83 Days on market

Built 1968 $128/sqft · 34% below area Est $136k · 34% under $647/mo HOA · 43% 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).

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

Listing remarks MLS

Cameo Tower updated one bedroom end unit! Sunny, southern exposure. Features large living and bedroom with wood style laminate flooring. Kitchen and dining area with ceramic tile flooring. Building features outdoor pool, top floor party room, garage parking (under construction), laundry and storage on same floor as unit. Professionally managed. Great location close to restaurants, transportation. Available immediately. Motivated seller, make an offer! Cash only.

Key facts

• $647 HOA
• Garage
• Community pool

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $90k.

Deal economics

• At list price, monthly cash flow is $-212 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $59k (34.4% below list).
• Meets the 1% rule at list price ($2k rent vs $90k).
• Recommended offer: $59k (34.4% below list) — sets the bar for cash-flow.
• Cap rate 3.5% vs local median 4.4% in Elmwood Park — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

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; 11 comparable units currently listed for rent nearby; rentals leasing fast (median 7d on market — plan ~1-2 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 $619 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 83 days — a 6% lower offer ($84k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 17y ago; this cycle's ask has dropped $10k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $41k; list at $90k implies a 118% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 3.3% of price; HOA is 43% of rent.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $58,733 (34.4% 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 83 days. Have you received any prior offers? Is the seller open to a 34% concession, seller financing, or rate buy-down credit?
3. Built in 1968 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
5. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
6. 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?
7. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
8. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
9. 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?
10. 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?
11. 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.
12. 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.
13. 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: 1.68% ✓
• Cap rate: 3.45%
• Cash-on-cash: -10.15%
• DSCR: 0.55
• GRM: 5.0

CMA / ARV

• ARV (median comp): $135,667
• List price: $89,500
• Delta: -34.03%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -22.2%
• Equity multiple: 0.17×
• Total profit: $-20,864
• Equity at exit: $13,345

10-year hold

• IRR: -1.6%
• Equity multiple: 0.85×
• Total profit: $-3,822
• Equity at exit: $7,738

Cash invested: $25,060 (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: 5.0×

Monthly cashflow live

• Estimated rent: $1,502 high
• Mortgage (P&I): −$469
• Tax from tax record: −$245 /mo · $2,937/yr
• Insurance: −$37
• HOA: −$647
• Vacancy / Maint / Mgmt: −$315
• Net cashflow: $-212

Break-even live

Break-even rent $1,770

Max offer price $58,733

Occupancy floor —

Sensitivity live

Price	-10% $-161	-5% $-187	+0% $-212	+5% $-237	+10% $-263
Rent	-10% $-331	-5% $-271	+0% $-212	+5% $-153	+10% $-93
Rate	-1.0pp $-167	-0.5pp $-189	base $-212	+0.5pp $-235	+1.0pp $-259

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: $22,375
• Closing costs: $2,685
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
7234 W North Ave #1103 Elmwood Park, IL	—	1.0	500	$1,150	$2.30	26d	1	0.02mi
7234 W North Ave #508 Elmwood Park, IL	1.0	1.0	750	$1,600	$2.13	9d	1	0.02mi
1619 N Neva Ave Chicago, IL	1.0–3.0	1.0–2.5	1654	$2,075	$1.25	4d	41	0.24mi
2232 N Harlem Ave Unit 2 Elmwood Park, IL	2.0	1.0	400	$2,150	$5.38	5d	1	0.84mi
2300 N Harlem Ave Elmwood Park, IL	1.0–2.0	1.0–2.0	850	$1,375	$1.62	4d	11	0.90mi
2412 N 76th Ave Unit 3W Elmwood Park, IL	2.0	1.0	700	$1,600	$2.29	46d	1	1.11mi
7709 W Marwood Ave Unit 3S Elmwood Park, IL	2.0	1.0	750	$1,995	$2.66	26d	1	1.28mi
2446 N 78th Ct Unit 2R Elmwood Park, IL	2.0	1.0	730	$1,695	$2.32	20d	1	1.33mi
1000 Lake St Oak Park, IL	2.0	1.0–2.0	929	$3,274	$3.52	0d	32	1.44mi
7901 W Grand Ave Unit 1S Elmwood Park, IL	1.0	1.0	700	$1,250	$1.79	5d	1	1.45mi
100 Forest Pl Oak Park, IL	1.0–2.0	1.0–2.5	945	$1,797	$1.90	6d	15	1.50mi

HOA detail condo

• Monthly dues: $647 · $7,764/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 29 events

1. 2026-06-21
   days on market $89,500 Active 83 DOM
2. 2026-06-18
   days on market $89,500 Active 80 DOM
3. 2026-06-17
   days on market $89,500 Active 79 DOM
4. 2026-06-16
   days on market $89,500 Active 78 DOM
5. 2026-06-15
   days on market $89,500 Active 77 DOM
6. 2026-06-13
   days on market $89,500 Active 75 DOM
7. 2026-06-13
   days on market $89,500 Active 74 DOM
8. 2026-06-10
   remarks 617-char remark
9. 2026-06-09
   days on market $89,500 Active 71 DOM
10. 2026-06-08
    days on market $89,500 Active 70 DOM
11. 2026-06-07
    days on market $89,500 Active 69 DOM
12. 2026-06-04
    days on market $89,500 Active 66 DOM
13. 2026-06-03
    days on market $89,500 Active 65 DOM
14. 2026-06-02
    days on market $89,500 Active 64 DOM
15. 2026-06-01
    days on market $89,500 Active 63 DOM
16. 2026-05-31
    days on market $89,500 Active 62 DOM
17. 2026-05-07
    price $89,500 467-char remark

    Show marketing remark (467 chars)

    Cameo Tower updated one bedroom end unit! Sunny, southern exposure. Features large living and bedroom with wood style laminate flooring. Kitchen and dining area with ceramic tile flooring. Building features outdoor pool, top floor party room, garage parking (under construction), laundry and storage on same floor as unit. Professionally managed. Great location close to restaurants, transportation. Available immediately. Motivated seller, make an offer! Cash only.

18. 2026-04-23
    status Active 467-char remark

    Show marketing remark (467 chars)

    Cameo Tower updated one bedroom end unit! Sunny, southern exposure. Features large living and bedroom with wood style laminate flooring. Kitchen and dining area with ceramic tile flooring. Building features outdoor pool, top floor party room, garage parking (under construction), laundry and storage on same floor as unit. Professionally managed. Great location close to restaurants, transportation. Available immediately. Motivated seller, make an offer! Cash only.

19. 2026-04-19
    historical Contingent - Continue to Show 467-char remark

    Show marketing remark (467 chars)

    Cameo Tower updated one bedroom end unit! Sunny, southern exposure. Features large living and bedroom with wood style laminate flooring. Kitchen and dining area with ceramic tile flooring. Building features outdoor pool, top floor party room, garage parking (under construction), laundry and storage on same floor as unit. Professionally managed. Great location close to restaurants, transportation. Available immediately. Motivated seller, make an offer! Cash only.

20. 2026-03-30
    listed $99,500 Active 467-char remark

    Show marketing remark (467 chars)

    Cameo Tower updated one bedroom end unit! Sunny, southern exposure. Features large living and bedroom with wood style laminate flooring. Kitchen and dining area with ceramic tile flooring. Building features outdoor pool, top floor party room, garage parking (under construction), laundry and storage on same floor as unit. Professionally managed. Great location close to restaurants, transportation. Available immediately. Motivated seller, make an offer! Cash only.

21. 2011-02-15
    soldstatus $41,000 Closed Sale 321-char remark

    Show marketing remark (321 chars)

    Sunny 1 bedroom unit with beautiful views ready for a new owner. Freddie Mac owned. Sold in AS-IS condition. Seller will not provide or pay for survey, taxes prorated at 100%; 2 year home warranty for owner occupants. Preapproval letter or proof of funds must accompany all offers. Earnest money must be certified funds.

22. 2011-01-28
    historical Contingent 321-char remark

    Show marketing remark (321 chars)

    Sunny 1 bedroom unit with beautiful views ready for a new owner. Freddie Mac owned. Sold in AS-IS condition. Seller will not provide or pay for survey, taxes prorated at 100%; 2 year home warranty for owner occupants. Preapproval letter or proof of funds must accompany all offers. Earnest money must be certified funds.

23. 2010-12-31
    listed $35,900 New 321-char remark

    Show marketing remark (321 chars)

    Sunny 1 bedroom unit with beautiful views ready for a new owner. Freddie Mac owned. Sold in AS-IS condition. Seller will not provide or pay for survey, taxes prorated at 100%; 2 year home warranty for owner occupants. Preapproval letter or proof of funds must accompany all offers. Earnest money must be certified funds.

24. 2010-03-07
    historical
25. 2009-12-16
    price Price Change
26. 2009-06-16
    listed
27. 2004-04-26
    soldstatus $119,000
28. 1996-10-23
    soldstatus $70,000
29. 1988-11-17
    soldstatus $36,500

ⓘ 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: $2,937 · $245/mo
• Projected year-2 tax: $2,937 · $245/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 6/10 Major FEMA zone X (unshaded) · 72% 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 0% 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: $18,023
• − Mortgage interest: −$5,013
• − Property taxes: −$2,937
• − Insurance: −$448
• − Repairs & maintenance: −$1,442
• − Management: −$1,442
• − HOA: −$7,764
• − Depreciation: −$2,604
• Taxable loss: −$3,626
• Est. tax savings @ 24.0%: +$870
• After-tax cash flow: $-1,672/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

+145.2% since first listed

13 events — show timeline

• 2026-05-07 Price Changed $89,500 MRED as Distributed by MLS Grid
• 2026-04-23 Relisted — MRED as Distributed by MLS Grid
• 2026-04-19 Contingent — MRED as Distributed by MLS Grid
• 2026-03-30 Listed $99,500 MRED as Distributed by MLS Grid
• 2011-02-15 Sold (MLS) $41,000 MRED as Distributed by MLS Grid
• 2011-01-28 Contingent — MRED as Distributed by MLS Grid
• 2010-12-31 Listed $35,900 MRED as Distributed by MLS Grid
• 2010-03-07 Listing Removed — MRED as Distributed by MLS Grid
• 2009-12-16 Price Changed — MRED as Distributed by MLS Grid
• 2009-06-16 Listed — MRED as Distributed by MLS Grid
• 2004-04-26 Sold (Public Records) $119,000 Public Records
• 1996-10-23 Sold (Public Records) $70,000 Public Records
• 1988-11-17 Sold (Public Records) $36,500 Public Records

Property tax history

+6.7%/yr

Latest (2023): $2,937 · +3.1% YoY. Source: county tax records.