7234 W North Ave #807 · Elmwood Park, IL 60707

$104,999

1 bd · 1.0 ba · 750 sqft · Condo · 153 Days on market

Built 1976 $140/sqft · 23% below area Est $136k · 23% under $370/mo HOA · 22% of rent

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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 +18.4/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +5.8/10.0
• Rent growth +4.3/5.0
• Livability +4.2/5.0
• Condition / age +2.5/5.0
• Schools +1.9/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

This one-bedroom, one-bathroom condo offers easy living with premium amenities, including a party room, pool, sun deck, and garage parking. The unit features a large, sunny open living room with ample storage and is ideally located near restaurants, shopping, and public transportation. Come see it today!

Key facts

• Open living room
• Party room
• Garage parking

Tags

• PARTY ROOM
• POOL
• SUN DECK
• GARAGE PARKING
• OPEN LIVING ROOM
• AMPLE STORAGE

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $105k.

Deal economics

• At list price, monthly cash flow is $98 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $105k).
• Recommended offer: $92k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.4% vs local median 4.4% in Elmwood 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 83/100 on livability (#41 in IL, #865 nationally) — a professional / high-income tenant draw. Strengths: commute A+, housing A+, crime A-; Watch: schools D+.
• Elmwood Park CUSD 401 (suburban): math 15% / reading 26% proficiency, ranked #403 of 620 in IL (top 65%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: Rents rising fast (+7.2%/yr); 58 active listings in the ZIP; 15 comparable units currently listed for rent nearby; rentals leasing fast (median 8d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 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 $726 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 7.2% rent growth), your $29k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 153 days — a 12% lower offer ($92k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: property tax is 2.8% of price; HOA is 22% of rent.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $92,399 (12.0% below list)

Questions for the listing agent

1. It's been on market 153 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1976 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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. 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: 1.57% ✓
• Cap rate: 7.41%
• Cash-on-cash: 3.98%
• DSCR: 1.18
• GRM: 5.3

CMA / ARV

• ARV (median comp): $135,636
• List price: $104,999
• Delta: -22.59%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 7.21% rent growth · sell at horizon

5-year hold

• IRR: -2.7%
• Equity multiple: 0.89×
• Total profit: $-3,187
• Equity at exit: $15,656

10-year hold

• IRR: 13.0%
• Equity multiple: 2.33×
• Total profit: $39,169
• Equity at exit: $9,078

Cash invested: $29,400 (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 60707

• Rents YoY: 7.2%
• Active inventory: 58
• Price-to-rent: 5.3×

Monthly cashflow live

• Estimated rent: $1,651 high
• Mortgage (P&I): −$551
• Tax from tax record: −$243 /mo · $2,912/yr
• Insurance: −$44
• HOA: −$370
• Vacancy / Maint / Mgmt: −$347
• Net cashflow: $98

Break-even live

Break-even rent $1,528

Max offer price $104,999

Occupancy floor 89%

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: $26,250
• Closing costs: $3,150
• Reserves months: —
• Total cash needed: —

Rent comps 15 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
7234 W North Ave #508 Elmwood Park, IL	1.0	1.0	750	$1,600	$2.13	7d	1	0.02mi
1619 N Neva Ave Chicago, IL	1.0–3.0	1.0–2.5	1654	$2,075	$1.25	2d	41	0.24mi
2242 73rd Ave Unit GE Elmwood Park, IL	2.0	1.0	1000	$1,600	$1.60	24d	1	0.86mi
2300 N Harlem Ave Elmwood Park, IL	1.0–2.0	1.0–2.0	850	$1,375	$1.62	2d	11	0.90mi
2310 N Harlem Ave Apt 304 Elmwood Park, IL	2.0	1.0	950	$1,750	$1.84	44d	1	0.91mi
2336 N 72nd Ct Elmwood Park, IL	2.0	1.0	990	$1,640	$1.66	24d	1	0.97mi
2412 N 76th Ave Unit 3W Elmwood Park, IL	2.0	1.0	700	$1,600	$2.29	44d	1	1.11mi
2402 N 76th Ct Unit G Elmwood Park, IL	2.0	1.0	850	$1,700	$2.00	7d	1	1.12mi
2112 N Nashville Ave Chicago, IL	2.0–4.0	2.0–3.0	1482	$2,639	$1.78	4d	15	1.18mi
7709 W Marwood Ave Unit 3S Elmwood Park, IL	2.0	1.0	750	$1,995	$2.66	24d	1	1.28mi
2446 N 78th Ct Unit 2R Elmwood Park, IL	2.0	1.0	730	$1,695	$2.32	19d	1	1.33mi
1000 Lake St Oak Park, IL	2.0	1.0–2.0	929	$3,274	$3.52	1d	32	1.44mi
2714 N 74th Ct Unit 1W Elmwood Park, IL	2.0	1.0	850	$1,695	$1.99	19d	1	1.44mi
7901 W Grand Ave Unit 1S Elmwood Park, IL	1.0	1.0	700	$1,250	$1.79	4d	1	1.45mi
100 Forest Pl Oak Park, IL	1.0–2.0	1.0–2.5	945	$1,797	$1.90	5d	15	1.50mi

HOA detail condo

• Monthly dues: $370 · $4,440/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 22 events

1. 2026-06-18
   days on market $104,999 Active 153 DOM
2. 2026-06-17
   days on market $104,999 Active 152 DOM
3. 2026-06-16
   days on market $104,999 Active 151 DOM
4. 2026-06-15
   days on market $104,999 Active 150 DOM
5. 2026-06-13
   days on market $104,999 Active 148 DOM
6. 2026-06-13
   days on market $104,999 Active 147 DOM
7. 2026-06-09
   days on market $104,999 Active 144 DOM
8. 2026-06-08
   days on market $104,999 Active 143 DOM
9. 2026-06-07
   days on market $104,999 Active 142 DOM
10. 2026-06-04
    days on market $104,999 Active 139 DOM
11. 2026-06-03
    days on market $104,999 Active 138 DOM
12. 2026-06-02
    days on market $104,999 Active 137 DOM
13. 2026-06-01
    days on market $104,999 Active 136 DOM
14. 2026-05-31
    days on market $104,999 Active 135 DOM
15. 2026-05-06
    price $104,999 306-char remark

    Show marketing remark (306 chars)

    This one-bedroom, one-bathroom condo offers easy living with premium amenities, including a party room, pool, sun deck, and garage parking. The unit features a large, sunny open living room with ample storage and is ideally located near restaurants, shopping, and public transportation. Come see it today!

16. 2021-08-19
    soldstatus $110,500
17. 2021-08-13
    soldstatus $110,500 Closed 352-char remark

    Show marketing remark (352 chars)

    Beautiful recently painted one bedroom condominium in Cameo Towers. This unit is bright and airy, newer appliances, updated bathroom and fixtures, same floor laundry, and a large storage unit across the hall. The building features a swimming pool, sundeck, and party room. Great location near public transportation, restaurants, and shopping. Hurry !!!

18. 2021-07-14
    status Active Under Contract (Do Not Show) 352-char remark

    Show marketing remark (352 chars)

    Beautiful recently painted one bedroom condominium in Cameo Towers. This unit is bright and airy, newer appliances, updated bathroom and fixtures, same floor laundry, and a large storage unit across the hall. The building features a swimming pool, sundeck, and party room. Great location near public transportation, restaurants, and shopping. Hurry !!!

19. 2021-06-11
    status Contingent (Do Not Show) 352-char remark

    Show marketing remark (352 chars)

    Beautiful recently painted one bedroom condominium in Cameo Towers. This unit is bright and airy, newer appliances, updated bathroom and fixtures, same floor laundry, and a large storage unit across the hall. The building features a swimming pool, sundeck, and party room. Great location near public transportation, restaurants, and shopping. Hurry !!!

20. 2021-04-07
    listed $112,000 New 352-char remark

    Show marketing remark (352 chars)

    Beautiful recently painted one bedroom condominium in Cameo Towers. This unit is bright and airy, newer appliances, updated bathroom and fixtures, same floor laundry, and a large storage unit across the hall. The building features a swimming pool, sundeck, and party room. Great location near public transportation, restaurants, and shopping. Hurry !!!

21. 2006-05-23
    soldstatus $121,500
22. 2000-05-11
    soldstatus $69,000

ⓘ 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: $2,912 · $243/mo
• Projected year-2 tax: $2,912 · $243/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 72% 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 5/10 Major 6 unhealthy d/yr today · 8 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,818
• − Mortgage interest: −$5,882
• − Property taxes: −$2,912
• − Insurance: −$525
• − Repairs & maintenance: −$1,585
• − Management: −$1,585
• − HOA: −$4,440
• − Depreciation: −$3,055
• Taxable loss: −$167
• Est. tax savings @ 24.0%: +$40
• After-tax cash flow: $1,211/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: Elmwood Park CUSD 401
• NCES district ID: 1714100
• Math proficiency: 15% ▼ -14.00%
• Reading proficiency: 26% ▼ -14.00%
• Median HH income: $54,600
• Composite: 18.73/100
• National rank: #8879
• State rank: #403 of 620 in IL

Livability — Elmwood Park

• Score: 83/100
• State rank: #41
• US rank: #865

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Elmwood Park, IL
• County: Cook County · 4,486,803 people
• City population: 41,116
• Metro: Chicago-Naperville-Elgin, IL-IN-WI
• Population (ZIP): 41,116
• Household income: $84,799
• Rent vs Own: 34.0% rent · 66.0% own
• Severe rent burden: 1195.0

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: Diverse neighborhood (Simpson 0.61)
• Race & ethnicity: White 45% Hispanic / Latino 43% Two or more races 14% Black 7% Asian 3%
• Hispanic origin (detail): Mexican 22% Puerto Rican 12% Cuban 1%
• Common ancestry: Romanian 13% Subsaharan African 2% Scotch-Irish 1%
• Foreign-born: 25% · Canada, Jamaica, Dominican Republic
• Languages at home: 54% English-only · Spanish 29% Russian/Polish/Slavic 11% Other Indo-European 3%

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: ▼ -256.46%
• Current HPI: 222.8083
• Rent YoY: ▲ 7.21%
• 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

+52.2% since first listed

8 events — show timeline

• 2026-05-06 Price Changed $104,999 MRED as Distributed by MLS Grid
• 2021-08-19 Sold (Public Records) $110,500 Public Records
• 2021-08-13 Sold (MLS) $110,500 MRED as Distributed by MLS Grid
• 2021-07-14 Pending — MRED as Distributed by MLS Grid
• 2021-06-11 Pending — MRED as Distributed by MLS Grid
• 2021-04-07 Listed $112,000 MRED as Distributed by MLS Grid
• 2006-05-23 Sold (Public Records) $121,500 Public Records
• 2000-05-11 Sold (Public Records) $69,000 Public Records

Property tax history

+2.4%/yr

Latest (2023): $2,912 · +3.1% YoY. Source: county tax records.