850 S Lorraine Rd · Wheaton, IL 60189

$235,000

2 bd · 2.0 ba · 1,126 sqft · SingleFamily · 1 Days on market

Built 1974 Good condition Est $385k · 39% under

---

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 +25.4/30.0
• ARV discount +15.0/15.0
• DSCR +8.4/10.0
• 1% rule +6.6/10.0
• Livability +4.3/5.0
• Schools +4.1/10.0
• Condition / age +3.8/5.0
• Rent growth +3.3/5.0
• Appreciation +0.0/10.0

Listing remarks

Highly desirable and rarely available, this 2-bedroom, 2-bath third-floor condo is one of the most sought-after units in the building. Quiet, spacious, and perfectly positioned right next to the elevator, it offers 1,126 square feet of beautifully updated living space and a large private balcony facing the parking area, combining convenience with privacy. The unit features two bedrooms with plenty of storage space, offering comfort and functionality for everyday living. Two full bathrooms & acirc; & euro; & rdquo; one with a walk-in shower and the other with a jacuzzi tub. Hardwood floors have just been professionally refinished, and the entire condo has been freshly painted and

Key facts

• Walk-in shower
• Granite countertops
• Brand-new dishwasher

Tags

• LARGE PRIVATE BALCONY
• WALK-IN SHOWER
• JACUZZI TUB
• HARDWOOD FLOORS
• GRANITE COUNTERTOPS
• BRAND-NEW DISHWASHER

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $235k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $538 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $235k).
• Cap rate 9.0% vs local median 3.7% in Wheaton — 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 86/100 on livability (#17 in IL, #374 nationally) — a professional / high-income tenant draw. Strengths: crime A+, commute A+, employment A+; Watch: amenities D+, health & safety D+, cost of living F.
• CUSD 200 (suburban): math 43% / reading 44% proficiency, ranked #78 of 620 in IL (top 13%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising (+3.4%/yr); 51 active listings in the ZIP; 25 comparable units currently listed for rent nearby; rentals leasing fast (median 8d on market — plan ~1-2 weeks tenant-placement turnaround); high-income renter base; 1,378 units permitted in DuPage County in 2024 (594 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts 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.

Recommended offer $235,000

Questions for the listing agent

1. Built in 1974 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
4. 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.
5. 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.
6. 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: 1.16% ✓
• Cap rate: 9.04%
• Cash-on-cash: 9.81%
• DSCR: 1.44
• GRM: 7.2

CMA / ARV

• ARV (on-the-fly): $385,092
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1406 E Elm St	0.28mi	3/1.5 (+1)	1,199 (+6%)	1mo	$440,000	$367	68
1020 Pershing Ave	0.43mi	3/2.0 (+1)	1,194 (+6%)	1mo	$416,500	$349	64
110 Travers Ave	0.57mi	3/1.5 (+1)	1,107 (-2%)	3mo	$400,000	$361	61
213 S Summit St	0.45mi	3/1.0 (+1)	1,176 (+4%)	2mo	$311,000	$264	61
1217 E Evergreen St	0.35mi	3/1.5 (+1)	1,096 (-3%)	14mo	$385,000	$351	60
1209 Fischer St	0.67mi	3/1.0 (+1)	1,133 (+1%)	0mo	$311,000	$274	58
147 S Prospect St	0.49mi	3/2.0 (+1)	1,170 (+4%)	11mo	$400,000	$342	57
418 S Williston St	0.45mi	2/1.0	1,231 (+9%)	9mo	$365,000	$297	52
1408 E Evergreen St	0.24mi	3/1.5 (+1)	1,293 (+15%)	10mo	$390,000	$302	48
1221 E Illinois St	0.43mi	2/1.0	1,265 (+12%)	15mo	$370,000	$292	43
1010 E Elm St	0.49mi	3/1.5 (+1)	988 (-12%)	13mo	$350,000	$354	39
230 Buena Vista Dr	0.73mi	3/2.0 (+1)	1,247 (+11%)	15mo	$385,000	$309	31

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 · 3.35% rent growth · sell at horizon

5-year hold

• IRR: -1.1%
• Equity multiple: 0.96×
• Total profit: $-2,795
• Equity at exit: $35,039

10-year hold

• IRR: 8.9%
• Equity multiple: 1.70×
• Total profit: $45,868
• Equity at exit: $20,319

Cash invested: $65,800 (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 60189

• Rents YoY: 3.4%
• Active inventory: 51
• Price-to-rent: 7.2×

Monthly cashflow live

• Estimated rent: $2,737 high
• Mortgage (P&I): −$1,232
• Tax est. 1.5%: −$294 /mo · $3,525/yr
• Insurance: −$98
• HOA: −$0
• Vacancy / Maint / Mgmt: −$575
• Net cashflow: $538

Break-even live

Break-even rent $2,056

Max offer price $235,000

Occupancy floor 75%

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: $58,750
• Closing costs: $7,050
• Reserves months: —
• Total cash needed: —

Rent comps 25 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1706 E Liberty Dr Wheaton, IL	3.0	3.0	1320	$3,200	$2.42	22d	1	0.43mi
285 Hill Ave Unit 2 Glen Ellyn, IL	3.0	1.0	1200	$3,250	$2.71	8d	1	0.81mi
357 Bloomfield Ln Glen Ellyn, IL	2.0	2.0	1213	$2,100	$1.73	25d	1	0.83mi
357 Bloomfield Ln Glen Ellyn, IL	2.0	2.0	1213	$2,100	$1.73	6d	1	0.83mi
21 N Main St Glen Ellyn, IL	1.0–2.0	1.0	850	$1,595	$1.88	2d	17	0.84mi
385 Sandhurst Cir #4 Glen Ellyn, IL	2.0	1.0	1213	$2,200	$1.81	1d	1	0.93mi
363 Pembroke Ln #3 Glen Ellyn, IL	2.0	2.0	1213	$1,875	$1.55	25d	1	0.95mi
1750 22nd St Wheaton, IL	1.0–3.0	1.0–2.0	873	$1,687	$1.93	2d	6	1.03mi
250 S Naperville Rd Wheaton, IL	3.0	1.0–2.0	1061	$4,073	$3.84	24d	16	1.12mi
250 S Naperville Rd Wheaton, IL	3.0	1.0–2.0	1061	$4,063	$3.83	1d	12	1.12mi
953 Park Plz Unit 4 Glen Ellyn, IL	2.0	1.0	850	$1,790	$2.11	8d	1	1.13mi
470 Fawell Blvd #218 Glen Ellyn, IL	2.0	2.0	993	$2,150	$2.17	25d	1	1.15mi
1607 Thames Ct Unit D Wheaton, IL	2.0	1.0	1056	$2,150	$2.04	18d	1	1.19mi
121 N Cross St Wheaton, IL	2.0	1.0–2.0	831	$2,887	$3.47	2d	18	1.22mi
1756 Plymouth Ct Unit B Wheaton, IL	3.0	2.0	1311	$2,600	$1.98	3d	1	1.27mi
437 Duane St Unit 406 Glen Ellyn, IL	2.0	2.0	1360	$3,720	$2.74	25d	1	1.34mi
437 Duane St #208 Glen Ellyn, IL	2.0	2.0	1360	$3,350	$2.46	25d	1	1.34mi
437 Duane St Unit 309 Glen Ellyn, IL	2.0	2.0	1360	$3,648	$2.68	8d	1	1.34mi
437 Duane St Unit 203 Glen Ellyn, IL	2.0	2.0	1360	$3,342	$2.46	25d	1	1.34mi
400 N Main St Glen Ellyn, IL	1.0	1.0	773	$2,405	$3.11	25d	1	1.40mi
400 N Main St Glen Ellyn, IL	2.0	1.0–2.0	1165	$5,800	$4.98	6d	1	1.40mi
532 Hillside Ave Unit BW Glen Ellyn, IL	1.0	1.0	1050	$1,450	$1.38	18d	1	1.43mi
302 W Liberty Dr Wheaton, IL	2.0	2.0	1194	$2,885	$2.42	2d	3	1.45mi
440 N Main St Unit 509 Glen Ellyn, IL	2.0	1.0	1126	$2,295	$2.04	15d	1	1.45mi
464 Glenwood Ave Glen Ellyn, IL	2.0	1.0–2.0	1071	$4,586	$4.28	3d	4	1.48mi

Listing history 5 events

1. 2026-05-26
   listed $235,000 Active
2. 2026-04-09
   historical $2,000
3. 2025-08-14
   price $2,000
4. 2025-06-10
   price $2,100
5. 2025-03-14
   listed $2,200

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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 ≥105°F today · 14 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 4 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $32,844
• − Mortgage interest: −$13,164
• − Property taxes: −$3,525
• − Insurance: −$1,175
• − Repairs & maintenance: −$2,627
• − Management: −$2,627
• − Depreciation: −$6,836
• Taxable income: $2,889
• Est. tax owed @ 24.0%: −$693
• After-tax cash flow: $5,765/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.

Condition & rehab AI · 1 photo

Good 75/100 Cosmetic rehab

This 2-bedroom, 2-bath condo is in excellent condition with recent updates, making it a highly desirable and move-in-ready property.

Value-add opportunities

• Both Landscaping — Enhances curb appeal and adds value
• Both New window treatments — Improves aesthetics and energy efficiency
• Both New flooring in bathrooms — Freshens the space and adds value

Renovation cost estimate screening

Value-add ROI direction

• Both Landscaping — Enhances curb appeal and adds value ↑
• Both New window treatments — Improves aesthetics and energy efficiency ↑
• Both New flooring in bathrooms — Freshens the space and adds value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: CUSD 200
• NCES district ID: 1742180
• Math proficiency: 43% ▼ -6.00%
• Reading proficiency: 44% ▼ -8.00%
• Median HH income: $85,077
• Composite: 40.75/100
• National rank: #3653
• State rank: #78 of 620 in IL

Livability — Wheaton

• Score: 86/100
• State rank: #17
• US rank: #374

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Wheaton, IL
• County: DuPage County · 904,569 people
• City population: 59,857
• Metro: Chicago-Naperville-Elgin, IL-IN-WI
• Population (ZIP): 31,042
• Household income: $128,878
• Rent vs Own: 22.2% rent · 77.8% own
• Severe rent burden: 484.0

Population outlook (DuPage County) Hauer SSP2

• Today (2025): 960,187 people
• By 2030: 965,850 · +0.6%
• By 2040: 965,812 · +0.6%
• By 2050: 954,890 · -0.6%
• By 2075: 910,185 · -5.2%
• By 2100: 816,255 · -15.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (80%)
• Race & ethnicity: White 80% Two or more races 8% Hispanic / Latino 7% Asian 5% Black 3%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Romanian 10% Italian 3% Slovak 2%
• Foreign-born: 11% · Canada, Philippines, China
• Languages at home: 86% English-only · Spanish 4% Other Indo-European 3% Russian/Polish/Slavic 2%

Political lean MEDSL · DuPage

• 2024 margin: D (+13.3) · D 55.9% · R 42.5% · Other 1.6%
• 2008→2024 swing: +2.5pp toward D · 2008: 10.8pp · 2024: 13.3pp
• All cycles: 2024: D+13.3 2020: D+18.1 2016: D+14.1 2012: D+1.0 2008: D+10.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -254.37%
• Current HPI: 212.2464
• Rent YoY: ▲ 3.35%
• 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

+10581.8% since first listed

5 events — show timeline

• 2026-05-26 Listed $235,000 FSBO.com
• 2026-04-09 Rental Removed $2,000 REDFIN
• 2025-08-14 Price Changed $2,000 REDFIN
• 2025-06-10 Price Changed $2,100 REDFIN
• 2025-03-14 Listed for Rent $2,200 REDFIN