4707 Fairview Ave · Downers Grove, IL 60515

$359,999

2 bd · 1.0 ba · 1,176 sqft · SingleFamily public records · 45 Days on market

Built 1960 0.26 ac lot Est $425k · 15% under

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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 +14.3/15.0
• Cash flow +12.0/30.0
• Rent growth +4.4/5.0
• Schools +4.3/10.0
• Livability +4.3/5.0
• DSCR +3.5/10.0
• Condition / age +2.5/5.0
• 1% rule +2.4/10.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to Fairview Ave - where location, lifestyle, and opportunity come together in one of the most desirable communities in Downers Grove, Illinois This charming all-brick ranch is perfectly positioned in a highly sought-after neighborhood known for its top-rated schools, vibrant downtown, and unmatched commuter convenience. Enjoy easy access to the Metra train, major highways, parks, dining, and shopping - everything that makes Downers Grove one of the most popular suburbs for buyers seeking both comfort and long-term value. Set on an oversized lot, this property offers rare outdoor space - ideal for entertaining, gardening, relaxing, or even future expansion. The large fenced backya

Key facts

• Commuter convenience
• Oversized lot
• Top-rated schools

Tags

• LARGE FENCED BACKYARD
• WALK-IN PANTRY
• OVERSIZED LOT
• TOP-RATED SCHOOLS
• COMMUTER CONVENIENCE

Property features AI

Finance

• Other: Possession at closing
• HOA & community: No master association fee required

Exterior

• Parking: Attached garage (concrete) — 1 garage space, 1 total parking space; Garage is owned
• Utilities: Lake Michigan water source; Public sewer; Electric service with circuit breakers
• Home design: Detached single-family home; One-story layout; Fee simple ownership
• Construction: Brick construction; Built approximately 61–70 years ago; Built before 1978
• Exterior features: Lot dimensions approximately 90 x 125; Less than 0.25 acre lot; Near commuter bus and train service; school bus service available

Interior

• Kitchen: Kitchen on the main level; Breakfast room adjacent to the kitchen
• Bedrooms: 2 bedrooms (both on the main level); Master bedroom on the main level
• Flooring: Hardwood flooring in living room, dining room, master bedroom and bedroom 2; Vinyl flooring in the kitchen; Other flooring in the laundry
• Bathrooms: 1 full bathroom
• Heating & cooling: Natural gas heating; Central air conditioning
• Interior features: Six total rooms; Some photos are virtually staged
• Laundry & utility: Main-level laundry area

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $360k.

Deal economics

• At list price, monthly cash flow is $-89 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $344k (4.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $266k (26.0% below list).
• Recommended offer: $266k (26.0% below list) — sets the bar for 1% rule.
• Cap rate 6.0% vs local median 3.0% in Downers Grove — 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 (#24 in IL, #452 nationally) — a professional / high-income tenant draw. Strengths: crime A+, commute A+, employment A+; Watch: cost of living F.
• Chsd 99 (suburban): math 46% / reading 46% proficiency, ranked #66 of 620 in IL (top 11%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising fast (+7.6%/yr); 74 active listings in the ZIP; 23 comparable units currently listed for rent nearby; rentals leasing fast (median 1d 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 $11k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 45 days — a 3% lower offer ($349k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts; this cycle's ask has dropped $19k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $65k; list at $360k implies a 454% gain — meaningful room to come down on a strong offer.

Recommended offer $266,249 (26.0% 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 45 days. Have you received any prior offers? Is the seller open to a 26% concession, seller financing, or rate buy-down credit?
3. Built in 1960 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are B-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?
6. 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?
7. 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.
8. 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.
9. 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: 0.74% ✗
• Cap rate: 6.00%
• Cash-on-cash: -1.06%
• DSCR: 0.95
• GRM: 11.3

CMA / ARV

• ARV (on-the-fly): $424,536
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
610 Franklin St	0.35mi	3/1.0 (+1)	1,143 (-3%)	9mo	$416,000	$364	66
503 Lake Ave	0.47mi	3/1.5 (+1)	1,195 (+2%)	5mo	$428,000	$358	64
507 Grant St	0.30mi	3/2.0 (+1)	1,064 (-10%)	3mo	$432,000	$406	58
4809 Cumnor Rd	0.28mi	3/1.0 (+1)	1,070 (-9%)	11mo	$185,000	$173	58
319 5th St	0.73mi	3/2.0 (+1)	1,144 (-3%)	1mo	$460,000	$402	51
210 3rd St	0.62mi	3/1.5 (+1)	1,092 (-7%)	3mo	$455,000	$417	50
304 N Washington St	0.68mi	3/1.0 (+1)	1,108 (-6%)	7mo	$400,000	$361	47
628 Franklin St	0.41mi	3/2.0 (+1)	1,003 (-15%)	1mo	$560,000	$558	47
215 W Naperville Rd	0.66mi	3/2.0 (+1)	1,248 (+6%)	6mo	$285,000	$228	45
305 3rd St	0.62mi	3/1.5 (+1)	1,276 (+8%)	8mo	$360,000	$282	44
159 N Park St	0.59mi	3/2.0 (+1)	1,300 (+10%)	9mo	$336,375	$259	39
329 5th St	0.73mi	3/2.0 (+1)	1,296 (+10%)	10mo	$325,000	$251	32

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 · 7.64% rent growth · sell at horizon

5-year hold

• IRR: -13.6%
• Equity multiple: 0.49×
• Total profit: $-51,124
• Equity at exit: $53,677

10-year hold

• IRR: 0.8%
• Equity multiple: 1.06×
• Total profit: $6,392
• Equity at exit: $31,126

Cash invested: $100,800 (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 60515

• Rents YoY: 7.6%
• Active inventory: 74
• Price-to-rent: 11.3×

Monthly cashflow live

• Estimated rent: $2,662 high
• Mortgage (P&I): −$1,888
• Tax from tax record: −$154 /mo · $1,852/yr
• Insurance: −$150
• HOA: −$0
• Vacancy / Maint / Mgmt: −$559
• Net cashflow: $-89

Break-even live

Break-even rent $2,775

Max offer price $344,304

Occupancy floor 98%

Sensitivity live

Price	-10% $115	-5% $13	+0% $-89	+5% $-191	+10% $-293
Rent	-10% $-299	-5% $-194	+0% $-89	+5% $16	+10% $121
Rate	-1.0pp $92	-0.5pp $3	base $-89	+0.5pp $-182	+1.0pp $-277

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: $90,000
• Closing costs: $10,800
• Reserves months: —
• Total cash needed: —

Rent comps 23 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
624 Prairie Ave Downers Grove, IL	2.0	1.0	775	$2,200	$2.84	5d	1	0.33mi
5118 Fairview Ave Downers Grove, IL	1.0	1.0	750	$1,800	$2.40	0d	1	0.52mi
5117 Fairview Ave Downers Grove, IL	2.0	2.0	1165	$2,695	$2.31	0d	1	0.52mi
5117 Fairview Ave Unit 101 Downers Grove, IL	2.0	2.0	1144	$2,850	$2.49	20d	1	0.52mi
5117 Fairview Ave Unit 102 Downers Grove, IL	2.0	2.0	1165	$2,925	$2.51	18d	1	0.52mi
717 Rogers St Downers Grove, IL	1.0–2.0	1.0–2.0	1099	$3,142	$2.86	0d	7	0.55mi
5001 Prospect Ave Unit 2D Downers Grove, IL	2.0	2.0	1262	$3,100	$2.46	5d	1	0.58mi
5142 Fairview Ave Apt 7 Downers Grove, IL	2.0	1.0	750	$1,650	$2.20	0d	1	0.58mi
5152 Fairview Ave Unit 6 Downers Grove, IL	1.0	1.0	700	$1,495	$2.14	23d	1	0.60mi
4323 Elm St Unit B Downers Grove, IL	2.0	1.0	1200	$1,725	$1.44	0d	1	0.66mi
5121 Mackie Pl Downers Grove, IL	1.0	1.0	710	$1,990	$2.80	23d	1	0.68mi
519 N Park St Westmont, IL	3.0	1.0	1046	$3,000	$2.87	20d	1	0.72mi
4334 Washington St Downers Grove, IL	2.0	1.5	926	$2,600	$2.81	0d	1	0.77mi
5313 Lyman Ave Downers Grove, IL	3.0	1.5	1248	$3,395	$2.72	0d	1	0.95mi
926 Maple Ave Downers Grove, IL	2.0	1.0–2.0	985	$3,906	$3.96	0d	13	0.96mi
30 W Burlington Ave Unit 1026700P Westmont, IL	2.0	1.0	990	$4,112	$4.15	6d	1	1.00mi
30 W Burlington Ave Unit 1026692P Westmont, IL	2.0	1.0	893	$3,630	$4.06	0d	1	1.00mi
26 W Burlington Ave Unit 1026690P Westmont, IL	2.0	1.0	893	$4,135	$4.63	0d	1	1.01mi
4931 Saratoga Ave Unit 1 Downers Grove, IL	3.0	1.0	1300	$2,500	$1.92	0d	1	1.02mi
1010 Maple Ave Downers Grove, IL	1.0	1.0	672	$2,481	$3.69	0d	3	1.03mi
1 W Quincy St Westmont, IL	2.0	1.0–2.0	909	$3,601	$3.96	0d	7	1.12mi
4342 Linscott Ave Downers Grove, IL	2.0	1.0	900	$2,095	$2.33	2d	1	1.17mi
15 W 56th St Westmont, IL	3.0	1.5	1152	$2,850	$2.47	19d	1	1.48mi

Listing history 10 events

1. 2026-05-08
   status Pending
2. 2026-04-23
   status Active
3. 2026-04-17
   status Pending
4. 2026-04-11
   price $359,999
5. 2026-03-18
   listed $379,000 Active
6. 2025-03-13
   historical
7. 2025-03-11
   status Active
8. 2025-01-27
   historical Contingent - No Showings
9. 2025-01-08
   listed Active
10. 1979-11-01
    soldstatus $65,000

ⓘ 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: $1,852 · $154/mo
• Projected year-2 tax: $5,012 · $418/mo
• Expected delta: +$3,160/yr (+$263/mo · 170.6%)

ⓘ 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 ≥103°F today · 14 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 0% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $31,950
• − Mortgage interest: −$20,166
• − Property taxes: −$1,852
• − Insurance: −$1,800
• − Repairs & maintenance: −$2,556
• − Management: −$2,556
• − Depreciation: −$10,473
• Taxable loss: −$7,452
• Est. tax savings @ 24.0%: +$1,789
• After-tax cash flow: $722/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: Chsd 99
• NCES district ID: 1712570
• Math proficiency: 46% ▼ -8.00%
• Reading proficiency: 46% ▼ -2.00%
• Median HH income: $83,473
• Composite: 42.68/100
• National rank: #3174
• State rank: #66 of 620 in IL

Livability — Downers Grove

• Score: 86/100
• State rank: #24
• US rank: #452

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Downers Grove, IL
• County: DuPage County · 904,569 people
• City population: 57,824
• Metro: Chicago-Naperville-Elgin, IL-IN-WI
• Population (ZIP): 29,762
• Household income: $123,197
• Rent vs Own: 24.2% rent · 75.8% own
• Severe rent burden: 697.0

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 (84%)
• Race & ethnicity: White 84% Asian 6% Two or more races 5% Hispanic / Latino 4% Black 2%
• Common ancestry: Romanian 15% Lithuanian 3% Iranian 2%
• Foreign-born: 8% · China, Canada, South Korea
• Languages at home: 89% English-only · Other Indo-European 3% Russian/Polish/Slavic 2% Spanish 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: ▼ -361.64%
• Current HPI: 222.0126
• Rent YoY: ▲ 7.64%
• 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

+453.8% since first listed

10 events — show timeline

• 2026-05-08 Pending — MRED as Distributed by MLS Grid
• 2026-04-23 Relisted — MRED as Distributed by MLS Grid
• 2026-04-17 Pending — MRED as Distributed by MLS Grid
• 2026-04-11 Price Changed $359,999 MRED as Distributed by MLS Grid
• 2026-03-18 Listed $379,000 MRED as Distributed by MLS Grid
• 2025-03-13 Listing Removed — MRED as Distributed by MLS Grid
• 2025-03-11 Relisted — MRED as Distributed by MLS Grid
• 2025-01-27 Contingent — MRED as Distributed by MLS Grid
• 2025-01-08 Listed — MRED as Distributed by MLS Grid
• 1979-11-01 Sold (Public Records) $65,000 Public Records

Property tax history

+0.2%/yr

Latest (2024): $1,852 · -3.7% YoY. Source: county tax records.