None · Elgin, IL 60120

$460,000

6 bd · 3.0 ba · — sqft · SingleFamily public records · 15 Days on market

7,470 sqft lot Est $310k · 48% over

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

Listing remarks MLS

There are no remarks available.

Key facts

• 7,470 sq ft lot
• 2 parking spots
• Listed 14 days

Property features AI

Finance

• Other: Lot dimensions approximately 90 x 83 (less than 0.25 acre); Parcel number 0614229015; Property offers commuter bus/train and interstate access
• Financial info: No special service area; Building contains 2 units; Zoned MULTI

Exterior

• Parking: 2 total parking spaces; Unassigned parking (other)
• Utilities: Public water; Public sewer
• Home design: Two- to four-unit building; 100+ years old; Rehab planned for 2025; Located in a historical district; Fee simple ownership; Not converted
• Construction: Cedar siding; Asphalt roof; Concrete perimeter foundation; Built before 1978
• Exterior features: Patio; Porch; Exterior lighting; Sidewalks; Street lights

Interior

• Kitchen: Stove; Refrigerator; Dishwasher
• Bedrooms: 6 bedrooms (total)
• Bathrooms: 2 full bathrooms; 2 half bathrooms; Bathrooms without tubs
• Heating & cooling: Natural gas heating; Forced air
• Interior features: 12 total rooms; Unfinished full basement; CO detectors; Ceiling fans; Multiple water heaters
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 6-bed/3.0-bath single-family listed at $460k.

Deal economics

• At list price, monthly cash flow is $5k ($58k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($10k rent vs $460k).
• Recommended offer: $453k (1.5% below list) — sets the bar for market timing.
• Cap rate 18.9% vs local median 3.4% in Elgin — 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 (#47 in IL, #975 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, housing A+; Watch: health & safety C-, schools D-.
• SD U-46 (suburban): math 19% / reading 20% proficiency, ranked #386 of 620 in IL (top 62%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: Rents soft (-2.4%/yr); 47 active listings in the ZIP; 2 comparable units currently listed for rent nearby; solid renter incomes; 1,944 units permitted in Kane County in 2024 (357 in 5+ unit buildings).
• At $10,220/mo this rent would consume 149% of the median local household income ($82k/yr) (locally 1349% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $14k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 0.0% rent growth), your $129k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 15 days — a 2% lower offer ($453k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 17y ago; this cycle's ask is 18% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $394k; 17% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $453,100 (1.5% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. 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.
4. 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.
5. 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: 2.22% ✓
• Cap rate: 18.90%
• Cash-on-cash: 45.02%
• DSCR: 3.00
• GRM: 3.8

CMA / ARV

• ARV (median comp): $309,871
• List price: $460,000
• Delta: 48.45%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
602 Prospect St	0.33mi	5/2.0 (-1)	2,424	5mo	$460,000	$190	59
258 Douglas Ave	0.15mi	5/2.0 (-1)	3,302	19mo	$275,000	$83	56
555 Douglas Ave	0.25mi	5/1.5 (-1)	1,500	12mo	$305,000	$203	55
141 N Gifford St	0.46mi	5/3.0 (-1)	1,900	13mo	$310,000	$163	50
841 Douglas Ave	0.60mi	6/5.0	3,620	3mo	$520,000	$144	49
4 N Jackson St	0.70mi	6/5.0	4,449	7mo	$300,000	$67	41
606 Logan Ave	0.48mi	5/2.0 (-1)	1,721	20mo	$151,000	$88	40
442 DU Page St	0.69mi	5/2.0 (-1)	2,662	9mo	$410,000	$154	39
838 Cedar Ave	0.72mi	5/2.0 (-1)	1,882	8mo	$285,000	$151	38
30 Lynch St	0.73mi	5/2.0 (-1)	—	11mo	$280,000	—	35
825 Saint John St	0.62mi	5/1.0 (-1)	1,728	13mo	$287,500	$166	35
363 Prairie St Apt 4	0.72mi	5/4.0 (-1)	3,787	15mo	$953,928	$252	33

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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 38.6%
• Equity multiple: 2.58×
• Total profit: $203,436
• Equity at exit: $68,587

10-year hold

• IRR: 43.6%
• Equity multiple: 4.56×
• Total profit: $458,443
• Equity at exit: $39,772

Cash invested: $128,800 (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 60120

• Rents YoY: -2.4%
• Active inventory: 47
• Price-to-rent: 3.8×

Monthly cashflow live

• Estimated rent: $10,220 medium
• Mortgage (P&I): −$2,412
• Tax from tax record: −$638 /mo · $7,654/yr
• Insurance: −$192
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,146
• Net cashflow: $4,832

Break-even live

Break-even rent $4,103

Max offer price $460,000

Occupancy floor 48%

Sensitivity live

Price	-10% $5,092	-5% $4,962	+0% $4,832	+5% $4,701	+10% $4,571
Rent	-10% $4,024	-5% $4,428	+0% $4,832	+5% $5,235	+10% $5,639
Rate	-1.0pp $5,063	-0.5pp $4,949	base $4,832	+0.5pp $4,712	+1.0pp $4,591

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: $115,000
• Closing costs: $13,800
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
886 Arthur Dr Unit 1285093P Elgin, IL	5.0	3.0	—	$17,706	—	25d	1	1.43mi
908 Arthur Dr Unit 1285092P Elgin, IL	5.0	3.0	—	$17,743	—	23d	1	1.46mi

Listing history 12 events

1. 2026-05-15
   listed $470,000 Active 31-char remark
2. 2025-10-23
   soldstatus $394,000
3. 2025-09-26
   soldstatus $393,933 Closed 31-char remark

   Show marketing remark (31 chars)

   There are no remarks available.

4. 2025-08-20
   historical Contingent - Continue to Show 31-char remark

   Show marketing remark (31 chars)

   There are no remarks available.

5. 2025-08-14
   listed $389,500 Active 31-char remark

   Show marketing remark (31 chars)

   There are no remarks available.

6. 2013-08-27
   soldstatus $60,000 Closed Sale

   Show marketing remark (257 chars)

   Attractive house! 3 bedrooms, 1 full bath and 1 half bath Multi-Unit home. Built in 1910, home is approx 3372 sq. ft. located in a suburban neighborhood with parks and schools close. Must see it! Schedule an appointment today! 60 day deed restriction apply.

7. 2013-04-10
   historical Contingent

   Show marketing remark (257 chars)

   Attractive house! 3 bedrooms, 1 full bath and 1 half bath Multi-Unit home. Built in 1910, home is approx 3372 sq. ft. located in a suburban neighborhood with parks and schools close. Must see it! Schedule an appointment today! 60 day deed restriction apply.

8. 2013-04-01
   listed $62,500 New

   Show marketing remark (257 chars)

   Attractive house! 3 bedrooms, 1 full bath and 1 half bath Multi-Unit home. Built in 1910, home is approx 3372 sq. ft. located in a suburban neighborhood with parks and schools close. Must see it! Schedule an appointment today! 60 day deed restriction apply.

9. 2010-08-31
   historical
10. 2009-12-10
    listed New
11. 2009-08-22
    historical
12. 2009-01-21
    listed

ⓘ 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: $7,654 · $638/mo
• Projected year-2 tax: $9,048 · $754/mo
• Expected delta: +$1,394/yr (+$116/mo · 18.2%)

ⓘ 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 ≥102°F today · 14 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 0% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $122,634
• − Mortgage interest: −$25,767
• − Property taxes: −$7,654
• − Insurance: −$2,300
• − Repairs & maintenance: −$9,811
• − Management: −$9,811
• − Depreciation: −$13,382
• Taxable income: $53,910
• Est. tax owed @ 24.0%: −$12,938
• After-tax cash flow: $45,042/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: SD U-46
• NCES district ID: 1713710
• Math proficiency: 19% ▼ -7.00%
• Reading proficiency: 20% ▼ -7.00%
• Median HH income: $69,757
• Composite: 19.39/100
• National rank: #8783
• State rank: #386 of 620 in IL

Livability — Elgin

• Score: 83/100
• State rank: #47
• US rank: #975

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Elgin, IL
• County: Cook County · 4,486,803 people
• City population: 124,091
• Metro: Chicago-Naperville-Elgin, IL-IN-WI
• Population (ZIP): 51,225
• Household income: $82,449
• Rent vs Own: 34.3% rent · 65.7% own
• Severe rent burden: 1349.0

Population outlook (Kane County) Hauer SSP2

• Today (2025): 559,449 people
• By 2030: 568,757 · +1.7%
• By 2040: 575,969 · +3.0%
• By 2050: 563,477 · +0.7%
• By 2075: 492,321 · -12.0%
• By 2100: 380,943 · -31.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.56)
• Race & ethnicity: Hispanic / Latino 60% White 26% Two or more races 24% Asian 4% Black 4% Native American 3%
• Hispanic origin (detail): Mexican 52% Puerto Rican 3%
• Common ancestry: Romanian 4% Scotch-Irish 2% Portuguese 1%
• Foreign-born: 33% · Canada, Jamaica, Dominican Republic
• Languages at home: 39% English-only · Spanish 53% Other Asian/Pacific 3% Other Indo-European 2%

Political lean MEDSL · Kane

• 2024 margin: Lean D (+9.4) · D 54.0% · R 44.6% · Other 1.4%
• 2008→2024 swing: -2.4pp toward R · 2008: 11.8pp · 2024: 9.4pp
• All cycles: 2024: D+9.4 2020: D+14.4 2016: D+8.9 2012: D+0.9 2008: D+11.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -181.84%
• Current HPI: 244.8833
• Rent YoY: ▼ -2.40%
• 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

+530.4% since first listed

14 events — show timeline

• 2026-05-30 Listing Removed — MRED as Distributed by MLS Grid
• 2026-05-24 Price Changed — MRED as Distributed by MLS Grid
• 2026-05-15 Listed — MRED as Distributed by MLS Grid
• 2025-10-23 Sold (Public Records) $394,000 Public Records
• 2025-09-26 Sold (MLS) $393,933 MRED as Distributed by MLS Grid
• 2025-08-20 Contingent — MRED as Distributed by MLS Grid
• 2025-08-14 Listed $389,500 MRED as Distributed by MLS Grid
• 2013-08-27 Sold (MLS) $60,000 MRED as Distributed by MLS Grid
• 2013-04-10 Contingent — MRED as Distributed by MLS Grid
• 2013-04-01 Listed $62,500 MRED as Distributed by MLS Grid
• 2010-08-31 Listing Removed — MRED as Distributed by MLS Grid
• 2009-12-10 Listed — MRED as Distributed by MLS Grid
• 2009-08-22 Listing Removed — MRED as Distributed by MLS Grid
• 2009-01-21 Listed — MRED as Distributed by MLS Grid

Property tax history

+2.3%/yr

Latest (2025): $7,654 · +3.5% YoY. Source: county tax records.