6417 W 85th Pl

Burbank, IL 60459

$295,900D+

3 bd · 1.0 ba · 1,519 sqft · Built 1955 · SingleFamily · Active · 37 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,805/mo
• Mortgage (P&I): −$1,552
• Tax + insurance: −$632
• HOA: −$0
• Vac / Maint / Mgmt: −$589
• Net cashflow: $32/mo
• Annual: $379/yr
• Cap rate: 6.42%
• Cash-on-cash: 0.46%
• DSCR: 1.02
• 1% rule: 0.95%
• Cash to close: $82,852

Investor read

• This is a 3-bed/1.0-bath single-family listed at $296k.
• At list price, monthly cash flow is $32 ($379/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $280k (5.2% below list).
• It's been on market 37 days — a 3% lower offer ($287k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $280k (5.2% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $9k of value loss. Plan a longer hold.
• Location reads 78/100 on livability (#132 in IL, #2,422 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, housing A+, employment A-; Watch: health & safety C-, amenities F.
• Reavis Twp Hsd 220 (suburban): math 18% / reading 21% proficiency, ranked #420 of 620 in IL (top 68%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: F B Mccord Elem School (math 22% / reading 17%, grade F, #1,054 of 2,056 statewide, top 54%, 254 students, 0% FRL); Liberty Junior High School (math 12% / reading 17%, grade F, #517 of 665 statewide, top 79%, 1,190 students, 0% FRL); Reavis High School (math 18% / reading 21%, grade F, #397 of 693 statewide, top 61%, 1,986 students, 0% FRL).
• Watch-outs: built in 1955 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 55 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals leasing fast (median 9d on market — plan ~1-2 weeks tenant-placement turnaround); 6,272 units permitted in Cook County in 2024 (4,658 in 5+ unit buildings).
• Cap rate 6.4% vs local median 5.3% in Burbank — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

Questions for listing agent

• It's been on market 37 days. Have you received any prior offers? Is the seller open to a 5% concession, seller financing, or rate buy-down credit?
• Built in 1955 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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.