830 Elder Rd Unit B202 · Homewood, IL 60430

$134,900

2 bd · 1.5 ba · 950 sqft · Condo · 63 Days on market

Built 1977 $438/mo HOA · 27% 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 +10.6/30.0
• ARV discount +7.5/15.0
• 1% rule +7.2/10.0
• Livability +4.0/5.0
• DSCR +3.1/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.4/10.0
• Appreciation +0.0/10.0

Listing remarks

GARAGE! GARAGE! GARAGE! Don't miss your opportunity to own this well-maintained condo with a separate deeded parking garage located in the Homewood Shores Subdivision and in the highly regarded Homewood-Flossmoor school district. This end unit condo features an updated kitchen with stainless steel appliances, granite countertops, ceramic flooring, wood cabinets, and recessed lighting; a primary suite with 2 closets and an updated private half bath; a coat closet; a linen closet; and a full updated bath with a soaking tub. The living room has a sliding glass patio door which leads out to a 12-foot x 5-foot balcony, offering serenity and a stunning pond view. The building features secure entr

Key facts

• Soaking tub
• Primary suite
• Updated kitchen

Tags

• DEEDED PARKING GARAGE
• UPDATED KITCHEN
• PRIMARY SUITE
• SOAKING TUB
• SLIDING GLASS PATIO DOOR
• 12 FOOT X 5 FOOT BALCONY

Property features AI

Finance

• Other: 64 units in building; Estimated living area; Commuter access: school bus, commuter bus, commuter train, interstate access
• HOA & community: Monthly association fee of $438; Association fee includes water, parking, insurance, clubhouse, pool, exterior maintenance, lawn care, scavenger, and snow removal; Pets allowed (cats and dogs; limits apply)

Exterior

• Parking: Detached garage (garage owned) with garage door opener; Total 3 parking spaces; 1 garage space
• Utilities: Lake Michigan water; Public sewer; Electric with circuit breakers
• Home design: Attached single (condo); Condo ownership; Entry level: 2; Built ~41-50 years ago; Brick construction; Built before 1978
• Construction: Brick exterior
• Exterior features: Common lot / common outdoor area

Interior

• Kitchen: Granite counters; Updated kitchen; Range; Microwave; Dishwasher; Refrigerator; Stainless steel appliances
• Bedrooms: 2 bedrooms (both on main/entry level); Master bedroom with half bath
• Flooring: Laminate; Carpet; Ceramic tile (kitchen)
• Bathrooms: 1 full bathroom; 1 half bathroom; Soaking tub
• Heating & cooling: Electric forced air heating; Central air conditioning
• Interior features: Elevator; Storage; Granite counters; Lobby; Separate dining room; Intercom; Drapes/curtains; 5 total rooms
• Laundry & utility: Common area laundry with sink; Laundry room

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath condo listed at $135k.

Deal economics

• At list price, monthly cash flow is $-67 ($-803/yr) — negative.
• To cash-flow at today's rent, offer at most $123k (8.8% below list).
• Meets the 1% rule at list price ($2k rent vs $135k).
• Recommended offer: $123k (8.8% below list) — sets the bar for cash-flow.

Location & tenants

• Location reads 81/100 on livability (#81 in IL, #1,314 nationally) — a professional / high-income tenant draw. Strengths: commute A+, employment A+, cost of living A+; Watch: amenities 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: 101 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 19d 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 $933 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 63 days — a 6% lower offer ($127k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $59k; list at $135k implies a 129% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 27% of rent.

Recommended offer $123,080 (8.8% 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 63 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
3. Built in 1977 — 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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?
10. 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.
11. 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.
12. 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: 1.22% ✓
• Cap rate: 5.70%
• Cash-on-cash: -2.13%
• DSCR: 0.91
• GRM: 6.8

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: -19.5%
• Equity multiple: 0.32×
• Total profit: $-25,827
• Equity at exit: $20,114

10-year hold

• IRR: -11.8%
• Equity multiple: 0.29×
• Total profit: $-26,782
• Equity at exit: $11,664

Cash invested: $37,772 (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 60430

• Home prices YoY: -32.1%
• Active inventory: 101
• Price-to-rent: 6.8×

Monthly cashflow live

• Estimated rent: $1,650 medium
• Mortgage (P&I): −$707
• Tax from tax record: −$169 /mo · $2,027/yr
• Insurance: −$56
• HOA: −$438
• Vacancy / Maint / Mgmt: −$347
• Net cashflow: $-67

Break-even live

Break-even rent $1,735

Max offer price $123,080

Occupancy floor 99%

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: $33,725
• Closing costs: $4,047
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1933 Hickory Rd Unit 1937-C Homewood, IL	1.0	1.0	850	$1,550	$1.82	18d	1	1.32mi
1933 Hickory Rd Homewood, IL	1.0	1.0	850	$1,550	$1.82	20d	1	1.32mi
44 N Glenwood Ave Glenwood, IL	1.0	1.0	700	$1,900	$2.71	1d	1	1.36mi

HOA detail condo

• Monthly dues: $438 · $5,256/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 17 events

1. 2026-06-18
   days on market $134,900 Active 63 DOM
2. 2026-06-17
   days on market $134,900 Active 62 DOM
3. 2026-06-16
   days on market $134,900 Active 61 DOM
4. 2026-06-15
   days on market $134,900 Active 60 DOM
5. 2026-06-13
   days on market $134,900 Active 58 DOM
6. 2026-06-09
   days on market $134,900 Active 54 DOM
7. 2026-06-08
   days on market $134,900 Active 53 DOM
8. 2026-06-07
   days on market $134,900 Active 52 DOM
9. 2026-06-04
   days on market $134,900 Active 49 DOM
10. 2026-06-03
    days on market $134,900 Active 48 DOM
11. 2026-06-02
    days on market $134,900 Active 47 DOM
12. 2026-06-01
    days on market $134,900 Active 46 DOM
13. 2026-05-31
    days on market $134,900 Active 45 DOM
14. 2026-04-16
    listed $134,900 Active
15. 2001-09-25
    soldstatus $59,000
16. 1998-10-20
    soldstatus $71,000
17. 1989-06-09
    soldstatus $52,000

ⓘ 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: $2,027 · $169/mo
• Projected year-2 tax: $2,544 · $212/mo
• Expected delta: +$518/yr (+$43/mo · 25.5%)

ⓘ 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: $19,802
• − Mortgage interest: −$7,556
• − Property taxes: −$2,027
• − Insurance: −$674
• − Repairs & maintenance: −$1,584
• − Management: −$1,584
• − HOA: −$5,256
• − Depreciation: −$3,924
• Taxable loss: −$2,805
• Est. tax savings @ 24.0%: +$673
• After-tax cash flow: $-130/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 — Homewood

• Score: 81/100
• State rank: #81
• US rank: #1314

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Homewood, IL
• City population: 19,993
• Population (ZIP): 19,993

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 0.62)
• Race & ethnicity: Black 44% White 42% Hispanic / Latino 9% Two or more races 6% Asian 1%
• Hispanic origin (detail): Mexican 7%
• Common ancestry: Romanian 5% Iranian 2% Italian 2%
• Foreign-born: 6% · Canada, Dominican Republic
• Languages at home: 91% English-only · Spanish 5% Russian/Polish/Slavic 1% German/W. Germanic 1%

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: ▼ -105.00%
• Current HPI: 222.2923
• 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

+159.4% since first listed

4 events — show timeline

• 2026-04-16 Listed $134,900 MRED as Distributed by MLS Grid
• 2001-09-25 Sold (Public Records) $59,000 Public Records
• 1998-10-20 Sold (Public Records) $71,000 Public Records
• 1989-06-09 Sold (Public Records) $52,000 Public Records

Property tax history

+1.7%/yr

Latest (2023): $2,027 · +287.2% YoY. Source: county tax records.