4328 W 99th Pl

Oak Lawn, IL 60453

$191,500C+

4 bd · 2.0 ba · 1,864 sqft · Built 1947 · SingleFamily · Pending · 35 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,503/mo
• Mortgage (P&I): −$1,004
• Tax + insurance: −$776
• HOA: −$0
• Vac / Maint / Mgmt: −$526
• Net cashflow: $197/mo
• Annual: $2,367/yr
• Cap rate: 7.53%
• Cash-on-cash: 4.41%
• DSCR: 1.20
• 1% rule: 1.31%
• Cash to close: $53,620

Investor read

• This is a 4-bed/2.0-bath single-family listed at $192k.
• At list price, monthly cash flow is $197 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $192k).
• It's been on market 35 days — a 3% lower offer ($186k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $186k (3.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Location reads 80/100 on livability (#102 in IL, #1,614 nationally) — a professional / high-income tenant draw. Strengths: commute A+, housing A+, employment A-.
• Chsd 218 (suburban): math 14% / reading 20% proficiency, ranked #454 of 620 in IL (top 73%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Watch-outs: property tax is 4.4% of price; built in 1947 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: Rents rising fast (+8.2%/yr); 188 active listings in the ZIP; 1 comparable units currently listed for rent nearby; solid renter incomes; 6,272 units permitted in Cook County in 2024 (4,658 in 5+ unit buildings).
• 5 sale attempts since 12y 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.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $54k cash investment doubles in ~9 years — after that, you're playing with house money.
• Cap rate 7.5% vs local median 4.4% in Oak Lawn — 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.
• This rent runs 36% of the median local income ($84k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• It's been on market 35 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• Built in 1947 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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.