13540 Lawler Ave #77

Crestwood, IL 60418

$164,900D

2 bd · 1.5 ba · 1,000 sqft · Built — · Condo · Active · 20 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,841/mo
• Mortgage (P&I): −$865
• Tax + insurance: −$275
• HOA: −$269
• Vac / Maint / Mgmt: −$387
• Net cashflow: $46/mo
• Annual: $552/yr
• Cap rate: 6.63%
• Cash-on-cash: 1.19%
• DSCR: 1.05
• 1% rule: 1.12%
• Cash to close: $46,172

Investor read

• This is a 2-bed/1.5-bath condo listed at $165k. Condition is rated good.
• At list price, monthly cash flow is $46 ($552/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $165k).
• It's been on market 20 days — a 2% lower offer ($162k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $162k (1.5% 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 $5k of value loss. Plan a longer hold.
• Location reads 82/100 on livability (#75 in IL, #1,220 nationally) — a professional / high-income tenant draw. Strengths: commute A+, cost of living A+, housing 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.
• Zoned schools: Nathan Hale Primary School (396 students, 0% FRL); Nathan Hale Middle School (335 students, 0% FRL); Dd Eisenhower High Sch (Campus) (math 10% / reading 13%, grade F, #520 of 693 statewide, top 75%, 1,841 students, 0% FRL).
• Market conditions: 30 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals leasing fast (median 10d 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 6.6% vs local median 4.9% in Crestwood — 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 does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• 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?
• 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 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.