316 Oak Meadows Dr

Wood Dale, IL 60191

$599,999F

5 bd · 3.5 ba · 2,608 sqft · Built 1992 · SingleFamily · Active · 2 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $5,500/mo
• Mortgage (P&I): −$3,146
• Tax + insurance: −$1,312
• HOA: −$0
• Vac / Maint / Mgmt: −$1,155
• Net cashflow: $-114/mo
• Annual: $-1,365/yr
• Cap rate: 6.07%
• Cash-on-cash: -0.81%
• DSCR: 0.96
• 1% rule: 0.92%
• Cash to close: $168,000

Investor read

• This is a 5-bed/3.5-bath single-family listed at $600k.
• At list price, monthly cash flow is $-114 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $580k (3.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $550k (8.3% below list).
• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $550k (8.3% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $4k of loan paydown is wiped out by about $18k of value loss. Plan a longer hold.
• Location reads 71/100 on livability (#328 in IL) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A+, employment A; Watch: commute C-, amenities D, health & safety F.
• Fenton Chsd 100 (suburban): math 20% / reading 26% proficiency, ranked #335 of 620 in IL (top 54%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: W A Johnson Sch (math 11% / reading 22%, grade F, #1,224 of 2,056 statewide, top 60%, 618 students, 0% FRL); Blackhawk Middle School (math 21% / reading 32%, grade F, #312 of 665 statewide, top 48%, 668 students, 0% FRL); Fenton High School (math 20% / reading 26%, grade F, #312 of 693 statewide, top 46%, 1,448 students, 0% FRL).
• Market conditions: 30 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 1,378 units permitted in DuPage County in 2024 (594 in 5+ unit buildings).
• 2 sale attempts since 9y ago 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.
• Current owner paid $330k; list at $600k implies a 82% gain — meaningful room to come down on a strong offer.
• Cap rate 6.1% vs local median 4.2% in Wood Dale — 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.

Questions for listing agent

• 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?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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?
• 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.
• 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.
• 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.