905 Long Rd

Glenview, IL 60025

$525,000D-

3 bd · 1.5 ba · 1,294 sqft · Built 1961 · SingleFamily · Active · 6 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $4,018/mo
• Mortgage (P&I): −$2,753
• Tax + insurance: −$821
• HOA: −$0
• Vac / Maint / Mgmt: −$844
• Net cashflow: $-400/mo
• Annual: $-4,799/yr
• Cap rate: 5.38%
• Cash-on-cash: -3.26%
• DSCR: 0.85
• 1% rule: 0.77%
• Cash to close: $147,000

Investor read

• This is a 3-bed/1.5-bath single-family listed at $525k.
• At list price, monthly cash flow is $-400 ($-5k/yr) — negative.
• To cash-flow at today's rent, offer at most $454k (13.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $402k (23.5% below list).
• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $402k (23.5% 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 $16k of value loss. Plan a longer hold.
• Location reads 78/100 on livability (#130 in IL, #2,372 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, employment A+, housing A+; Watch: health & safety C-, amenities D, cost of living F.
• New Trier Twp Hsd 203 (suburban): math 76% / reading 80% proficiency, ranked #2 of 620 in IL (top 0%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Zoned schools: New Trier Township H S Northfield (923 students, 0% FRL).
• Market conditions: Rents rising fast (+7.9%/yr); 13 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); high-income renter base; 6,272 units permitted in Cook County in 2024 (4,658 in 5+ unit buildings).
• Current owner paid $266k; list at $525k implies a 98% gain — meaningful room to come down on a strong offer.
• Climate carrying-cost: moderate flood risk — expect insurance premiums to compound above CPI over the hold.
• This rent runs 38% of the median local income ($127k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

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?
• Built in 1961 — 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 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?
• 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.