9507 Kelvin Ln #2331 · Schiller Park, IL 60176

$150,000

1 bd · 1.0 ba · 700 sqft · Condo · 66 Days on market

Built 1964 $230/mo HOA · 16% 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 +14.3/30.0
• ARV discount +7.5/15.0
• 1% rule +4.9/10.0
• DSCR +4.4/10.0
• Livability +3.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.6/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

1BEDROOM CONDO IN DESIRABLE LOCATION. 5 MINS TO O'HARE OR BLUE LINE - TRANSPORTATION - SHOPPINGS. VERY WELL KEPT, AFFORDABLE - GREAT STARTER UNIT. SCHEDULE A SHOWING TODAY . Asmt Incl:Water, Parking, Common Insurance, Clubhouse, Exercise Facilities, Pool, Exterior Maintenance, Lawn Care, Scavenger, Snow Removal

Key facts

• Clubhouse
• Prime location
• $230 HOA

Tags

• FULLY EQUIPPED FITNESS CENTER
• CLUBHOUSE
• TWO ASSIGNED PARKING SPACES
• PRIME LOCATION

Property features AI

Finance

• Other: Managed building with 5 units; Senior tax freeze exemption reported
• HOA & community: Monthly association fee of $230; Association fee includes water, parking, insurance, clubhouse, exercise facilities, pool, exterior maintenance, lawn care, trash removal, and snow removal; On-site manager (Monday through Saturday); Association amenities include exercise room, storage, health club, on-site manager/engineer, and pool; Pets allowed (cats and dogs) with number and size limits

Exterior

• Parking: 2 parking spaces (assigned; guest parking available)
• Utilities: Lake Michigan water source; Public sewer; 100 amp electric service
• Home design: Attached single-unit condo; Entry level: 1
• Construction: Brick construction; Asphalt roof; Built approximately 61–70 years ago; Property built before 1978
• Exterior features: Common landscaped grounds; Commuter bus and commuter train access nearby

Interior

• Kitchen: Range; Microwave; Dishwasher; Refrigerator; Eating area / table space
• Bedrooms: 1 bedroom (Master Bedroom on main level); Additional bedroom listings indicate possible extra bedrooms
• Flooring: Carpet in living, dining and bedroom areas; Vinyl flooring in kitchen
• Bathrooms: 1 full bathroom
• Heating & cooling: Electric forced air heating; Central air conditioning
• Interior features: 4 total rooms; Screens on windows; Some photos are virtually staged
• Laundry & utility: Laundry room

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 $28 ($341/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $148k (1.1% below list).
• Recommended offer: $141k (6.0% below list) — sets the bar for market timing.
• Cap rate 6.5% vs local median 3.1% in Schiller 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 78/100 on livability (#147 in IL, #2,716 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, housing A+, cost of living B+; Watch: amenities D+, schools D-.
• Leyden Chsd 212 (suburban): math 15% / reading 20% proficiency, ranked #451 of 620 in IL (top 73%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 21 active listings in the ZIP; 15 comparable units currently listed for rent nearby; rentals at typical pace (median 25d 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 $4k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 66 days — a 6% lower offer ($141k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 8y 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.
• Current owner paid $65k; list at $150k implies a 131% gain — meaningful room to come down on a strong offer.

Recommended offer $141,000 (6.0% below list)

Questions for the listing agent

1. It's been on market 66 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1964 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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: 0.99% ✗
• Cap rate: 6.52%
• Cash-on-cash: 0.81%
• DSCR: 1.04
• GRM: 8.4

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: -14.9%
• Equity multiple: 0.47×
• Total profit: $-22,410
• Equity at exit: $22,365

10-year hold

• IRR: -6.2%
• Equity multiple: 0.60×
• Total profit: $-16,829
• Equity at exit: $12,969

Cash invested: $42,000 (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 60176

• Home prices YoY: -32.6%
• Active inventory: 21
• Price-to-rent: 8.4×

Monthly cashflow live

• Estimated rent: $1,483 high
• Mortgage (P&I): −$787
• Tax from tax record: −$64 /mo · $767/yr
• Insurance: −$62
• HOA: −$230
• Vacancy / Maint / Mgmt: −$311
• Net cashflow: $28

Break-even live

Break-even rent $1,447

Max offer price $150,000

Occupancy floor 93%

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: $37,500
• Closing costs: $4,500
• Reserves months: —
• Total cash needed: —

Rent comps 15 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5029 N East River Rd Unit 2A Norridge, IL	1.0	1.0	700	$1,500	$2.14	24d	1	1.03mi
5102 N Leonard Dr Unit 2B Norridge, IL	—	1.0	600	$1,475	$2.46	24d	1	1.07mi
3812 25th Ave Unit 12 Schiller Park, IL	1.0	1.0	700	$1,550	$2.21	24d	1	1.23mi
3812 25th Ave Unit 12 Schiller Park, IL	1.0	1.0	650	$1,550	$2.38	14d	1	1.23mi
3812 25th Ave Schiller Park, IL	1.0	1.0	650	$1,550	$2.38	3d	1	1.23mi
3810 25th Ave Schiller Park, IL	1.0	1.0	650	$1,450	$2.23	6d	1	1.25mi
3810 25th Ave Unit 4 Schiller Park, IL	1.0	1.0	650	$1,500	$2.31	24d	1	1.25mi
9610 Ivanhoe Ave Unit 2 Schiller Park, IL	1.0	1.0	650	$1,450	$2.23	24d	1	1.26mi
9612 Ivanhoe Ave Unit 2 Schiller Park, IL	1.0	1.0	600	$1,550	$2.58	7d	1	1.26mi
9620 Ivanhoe Ave Unit 15 Schiller Park, IL	1.0	1.0	650	$1,450	$2.23	7d	1	1.26mi
9620 Ivanhoe Ave Unit 14 Schiller Park, IL	1.0	1.0	700	$1,550	$2.21	15d	1	1.26mi
9620 Ivanhoe Ave Schiller Park, IL	1.0	1.0	650	$1,450	$2.23	24d	1	1.26mi
9612 Ivanhoe Ave Schiller Park, IL	1.0	1.0	650	$1,550	$2.38	24d	1	1.26mi
9612 Ivanhoe Ave Schiller Park, IL	1.0	1.0	600	$1,550	$2.58	22d	1	1.26mi
3723 Ruby St Schiller Park, IL	—	1.0	400	$1,200	$3.00	24d	1	1.35mi

HOA detail condo

• Monthly dues: $230 · $2,760/yr
• Likely covers: waterlandscapingsnow removalexterior maint.pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 22 events

1. 2026-06-18
   days on market $150,000 Active 66 DOM
2. 2026-06-17
   days on market $150,000 Active 65 DOM
3. 2026-06-16
   days on market $150,000 Active 64 DOM
4. 2026-06-15
   days on market $150,000 Active 63 DOM
5. 2026-06-13
   days on market $150,000 Active 61 DOM
6. 2026-06-09
   days on market $150,000 Active 57 DOM
7. 2026-06-08
   days on market $150,000 Active 56 DOM
8. 2026-06-07
   days on market $150,000 Active 55 DOM
9. 2026-06-04
   days on market $150,000 Active 52 DOM
10. 2026-06-03
    days on market $150,000 Active 51 DOM
11. 2026-06-02
    days on market $150,000 Active 50 DOM
12. 2026-06-01
    days on market $150,000 Active 49 DOM
13. 2026-05-31
    days on market $150,000 Active 48 DOM
14. 2026-04-13
    listed $150,000 Active
15. 2022-07-25
    historical Contingent - Continue to Show
16. 2022-07-22
    historical
17. 2022-07-11
    listed Active
18. 2018-10-11
    soldstatus $65,000
19. 2018-10-05
    soldstatus $65,000 Closed Sale 312-char remark

    Show marketing remark (312 chars)

    1BEDROOM CONDO IN DESIRABLE LOCATION. 5 MINS TO O'HARE OR BLUE LINE - TRANSPORTATION - SHOPPINGS. VERY WELL KEPT, AFFORDABLE - GREAT STARTER UNIT. SCHEDULE A SHOWING TODAY . Asmt Incl:Water, Parking, Common Insurance, Clubhouse, Exercise Facilities, Pool, Exterior Maintenance, Lawn Care, Scavenger, Snow Removal

20. 2018-09-01
    status Contingent (Do Not Show) 312-char remark

    Show marketing remark (312 chars)

    1BEDROOM CONDO IN DESIRABLE LOCATION. 5 MINS TO O'HARE OR BLUE LINE - TRANSPORTATION - SHOPPINGS. VERY WELL KEPT, AFFORDABLE - GREAT STARTER UNIT. SCHEDULE A SHOWING TODAY . Asmt Incl:Water, Parking, Common Insurance, Clubhouse, Exercise Facilities, Pool, Exterior Maintenance, Lawn Care, Scavenger, Snow Removal

21. 2018-07-28
    price $70,000 312-char remark

    Show marketing remark (312 chars)

    1BEDROOM CONDO IN DESIRABLE LOCATION. 5 MINS TO O'HARE OR BLUE LINE - TRANSPORTATION - SHOPPINGS. VERY WELL KEPT, AFFORDABLE - GREAT STARTER UNIT. SCHEDULE A SHOWING TODAY . Asmt Incl:Water, Parking, Common Insurance, Clubhouse, Exercise Facilities, Pool, Exterior Maintenance, Lawn Care, Scavenger, Snow Removal

22. 2018-07-04
    listed $83,000 New 312-char remark

    Show marketing remark (312 chars)

    1BEDROOM CONDO IN DESIRABLE LOCATION. 5 MINS TO O'HARE OR BLUE LINE - TRANSPORTATION - SHOPPINGS. VERY WELL KEPT, AFFORDABLE - GREAT STARTER UNIT. SCHEDULE A SHOWING TODAY . Asmt Incl:Water, Parking, Common Insurance, Clubhouse, Exercise Facilities, Pool, Exterior Maintenance, Lawn Care, Scavenger, Snow Removal

ⓘ 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: $767 · $64/mo
• Projected year-2 tax: $2,086 · $174/mo
• Expected delta: +$1,319/yr (+$110/mo · 172.1%)

ⓘ 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 · 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 · 7 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,793
• − Mortgage interest: −$8,402
• − Property taxes: −$767
• − Insurance: −$750
• − Repairs & maintenance: −$1,423
• − Management: −$1,423
• − HOA: −$2,760
• − Depreciation: −$4,364
• Taxable loss: −$2,096
• Est. tax savings @ 24.0%: +$503
• After-tax cash flow: $844/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: Leyden Chsd 212
• NCES district ID: 1722740
• Math proficiency: 15% ▼ -12.00%
• Reading proficiency: 20% ▼ -9.00%
• Median HH income: $55,738
• Composite: 16.37/100
• National rank: #9200
• State rank: #451 of 620 in IL

Livability — Schiller Park

• Score: 78/100
• State rank: #147
• US rank: #2716

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Schiller Park, IL
• County: Cook County · 4,486,803 people
• City population: 11,393
• Metro: Chicago-Naperville-Elgin, IL-IN-WI
• Population (ZIP): 11,393
• Household income: $69,696
• Rent vs Own: 40.8% rent · 59.2% own
• Severe rent burden: 481.0

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: Majority White (64%)
• Race & ethnicity: White 64% Hispanic / Latino 30% Two or more races 7% Asian 5%
• Hispanic origin (detail): Mexican 22% Puerto Rican 2%
• Common ancestry: Romanian 14% Subsaharan African 4% French 1%
• Foreign-born: 39% · Canada, Jamaica
• Languages at home: 44% English-only · Spanish 23% Russian/Polish/Slavic 17% Other Indo-European 8%

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: ▼ -113.26%
• Current HPI: 233.9376
• Rent YoY: —
• 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

+80.7% since first listed

9 events — show timeline

• 2026-04-13 Listed $150,000 MRED as Distributed by MLS Grid
• 2022-07-25 Contingent — MRED as Distributed by MLS Grid
• 2022-07-22 Listing Removed — MRED as Distributed by MLS Grid
• 2022-07-11 Listed — MRED as Distributed by MLS Grid
• 2018-10-11 Sold (Public Records) $65,000 Public Records
• 2018-10-05 Sold (MLS) $65,000 MRED as Distributed by MLS Grid
• 2018-09-01 Pending — MRED as Distributed by MLS Grid
• 2018-07-28 Price Changed $70,000 MRED as Distributed by MLS Grid
• 2018-07-04 Listed $83,000 MRED as Distributed by MLS Grid

Property tax history

-7.7%/yr

Latest (2023): $767 · +10.0% YoY. Source: county tax records.