11535 Settlers Pond Way Unit 8-1B · Orland Park, IL 60467

$289,900

2 bd · 2.0 ba · 1,600 sqft · Condo · 16 Days on market

Built 2001 $300/mo HOA · 10% of rent ↓ 3% since listing

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Why this score? — see what drove the D- 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 +10.8/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• Livability +4.2/5.0
• Schools +3.4/10.0
• DSCR +3.1/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Sought after 1st floor unit in a secure flexicore building with sprinklers. Boasting an open floor plan and plenty of natural light. 2 bedroom, 2 full baths. Formal dining room. Large eat-in kitchen with plenty of counter space, cabinetry & pantry. Family room w/ gas fireplace flanked by sliding glass doors to patio & yard. Laundry room with built-in cabinets. Spacious master suite with walk-in closet and private whirlpool tub, walk-in shower & double vanity. Sit and relax or entertain on your patio. 1 car garage just steps away. Set in the Preserves of Marley Creek with a community walking path to METRA, Jewel, Starbucks, & McDonalds! One of the largest neighborhood parks includes pond, walking paths, basketball court, even a small sled hill!

Key facts

• Cozy gas fireplace
• Open floor plan
• Large eat-in kitchen

Tags

• HANDICAP-ACCESSIBLE BUILDING
• OPEN FLOOR PLAN
• LARGE EAT-IN KITCHEN
• SEPARATE DINING AREA
• EXPANSIVE LIVING ROOM
• COZY GAS FIREPLACE

Property features AI

Finance

• Other: Community offers school bus service, commuter bus and train access, nearby interstate access
• HOA & community: Monthly association fee of $300; Association covers insurance, exterior maintenance, lawn care, scavenger and snow removal; Manager off-site; Association amenities include a park; Pets allowed (cats and dogs), large maximum pet weight allowed

Exterior

• Parking: Detached garage (garage owned) with garage door opener; Asphalt parking; Total 1 parking space / 1 garage space
• Utilities: Water source: Lake Michigan; Public sewer; Electric with circuit breakers
• Home design: Attached single condo; Condo ownership; Entry level: 1; Model: CONDO; 12-unit building; Not currently leased
• Construction: Brick construction; Concrete perimeter foundation; Age: approximately 21–25 years
• Exterior features: Balcony; Common landscaped grounds; Pond on property

Interior

• Kitchen: Range; Microwave; Dishwasher; Refrigerator; Kitchen with eating area/table space and pantry (15 x 15)
• Bedrooms: Master bedroom on main level (17 x 14) with full bath; Second bedroom on main level (12 x 11); Additional bedrooms noted (labels for Bedroom 3 and Bedroom 4)
• Flooring: Other (balcony/porch flooring listed as Other in room detail)
• Bathrooms: 2 full bathrooms; Whirlpool tub and separate shower in bath
• Heating & cooling: Natural gas forced-air heating; Central air conditioning
• Interior features: Elevator; First-floor bedroom; First-floor full bathroom; Storage; Flexicore construction; 5 total rooms
• Laundry & utility: Main-level laundry room (9 x 9); Washer hookup in unit; Washer and dryer included

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $290k.

Deal economics

• At list price, monthly cash flow is $-133 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $266k (8.1% below list).
• Meets the 1% rule at list price ($3k rent vs $290k).
• Recommended offer: $266k (8.1% below list) — sets the bar for cash-flow.
• Cap rate 5.7% vs local median 4.3% in Orland 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 85/100 on livability (#29 in IL, #529 nationally) — a professional / high-income tenant draw. Strengths: crime A+, amenities A+, commute A+.
• Cons Hsd 230 (suburban): math 35% / reading 39% proficiency, ranked #146 of 620 in IL (top 24%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 119 active listings in the ZIP; 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 $2k of loan paydown is wiped out by about $9k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 16 days — a 2% lower offer ($286k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 7y ago; this cycle's ask is 53% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $184k; list at $290k implies a 58% gain — meaningful room to come down on a strong offer.

Recommended offer $266,360 (8.1% below list)

Questions for the listing agent

1. 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?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. 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?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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: 1.00% ✓
• Cap rate: 5.74%
• Cash-on-cash: -1.97%
• DSCR: 0.91
• GRM: 8.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -19.4%
• Equity multiple: 0.32×
• Total profit: $-55,155
• Equity at exit: $43,225

10-year hold

• IRR: -11.9%
• Equity multiple: 0.29×
• Total profit: $-57,705
• Equity at exit: $25,065

Cash invested: $81,172 (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 60467

• Home prices YoY: -30.4%
• Active inventory: 119
• Price-to-rent: 8.3×

Monthly cashflow live

• Estimated rent: $2,911 medium
• Mortgage (P&I): −$1,520
• Tax from tax record: −$492 /mo · $5,906/yr
• Insurance: −$121
• HOA: −$300
• Vacancy / Maint / Mgmt: −$611
• Net cashflow: $-133

Break-even live

Break-even rent $3,080

Max offer price $266,360

Occupancy floor 100%

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: $72,475
• Closing costs: $8,697
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $300 · $3,600/yr
• Likely covers: gaspool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 10 events

1. 2026-06-18
   days on market $289,900 Active 16 DOM
2. 2026-06-17
   days on market $289,900 Active 15 DOM
3. 2026-06-16
   days on market $289,900 Active 14 DOM
4. 2026-06-15
   days on market $289,900 Active 13 DOM
5. 2026-06-13
   days on market $289,900 Active 11 DOM
6. 2026-06-09
   days on market $289,900 Active 7 DOM
7. 2026-06-08
   days on market $289,900 Active 6 DOM
8. 2026-06-07
   days on market $289,900 Active 5 DOM
9. 2026-06-04
   days on market $289,900 Active 2 DOM
10. 2026-06-02
    listed $289,900 Active 1 DOM

ⓘ 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: $5,906 · $492/mo
• Projected year-2 tax: $6,243 · $520/mo
• Expected delta: +$337/yr (+$28/mo · 5.7%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥102°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $34,936
• − Mortgage interest: −$16,239
• − Property taxes: −$5,906
• − Insurance: −$1,450
• − Repairs & maintenance: −$2,795
• − Management: −$2,795
• − HOA: −$3,600
• − Depreciation: −$8,433
• Taxable loss: −$6,281
• Est. tax savings @ 24.0%: +$1,508
• After-tax cash flow: $-92/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: Cons Hsd 230
• NCES district ID: 1708400
• Math proficiency: 35% ▼ -8.00%
• Reading proficiency: 39% ▼ -6.00%
• Median HH income: $73,953
• Composite: 34.29/100
• National rank: #5244
• State rank: #146 of 620 in IL

Livability — Orland Park

• Score: 85/100
• State rank: #29
• US rank: #529

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Orland Park, IL
• City population: 41,456
• Population (ZIP): 24,952

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: Predominantly White (83%)
• Race & ethnicity: White 83% Hispanic / Latino 6% Asian 5% Two or more races 4% Black 4%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Romanian 15% Armenian 2% Iranian 2%
• Foreign-born: 14% · Canada, South Korea, China
• Languages at home: 78% English-only · Arabic 9% Russian/Polish/Slavic 4% Other Indo-European 4%

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: ▼ -82.13%
• Current HPI: 188.3676
• Rent YoY: —
• Metro: —
• 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

-2.6% since first listed

10 events — show timeline

• 2026-06-02 Listing Removed — MRED as Distributed by MLS Grid
• 2020-07-16 Sold (Public Records) $184,000 Public Records
• 2020-06-02 Sold (MLS) $184,000 MRED as Distributed by MLS Grid
• 2020-04-29 Pending — MRED as Distributed by MLS Grid
• 2020-04-04 Price Changed $189,000 MRED as Distributed by MLS Grid
• 2020-04-02 Relisted — MRED as Distributed by MLS Grid
• 2020-02-29 Contingent — MRED as Distributed by MLS Grid
• 2020-02-22 Price Changed $179,000 MRED as Distributed by MLS Grid
• 2020-02-05 Price Changed $184,000 MRED as Distributed by MLS Grid
• 2019-11-09 Listed $189,000 MRED as Distributed by MLS Grid

Property tax history

+5.1%/yr

Latest (2023): $5,906 · +15.4% YoY. Source: county tax records.