1700 N 37th Ave

Stone Park, IL 60165

$300,000F

2 bd · 1.0 ba · 864 sqft · Built 1954 · SingleFamily · Active · 4 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,556/mo
• Mortgage (P&I): −$1,573
• Tax + insurance: −$699
• HOA: −$0
• Vac / Maint / Mgmt: −$327
• Net cashflow: $-1,043/mo
• Annual: $-12,516/yr
• Cap rate: 2.34%
• Cash-on-cash: -14.11%
• DSCR: 0.37
• 1% rule: 0.52%
• Cash to close: $84,000

Investor read

• This is a 2-bed/1.0-bath single-family listed at $300k.
• At list price, monthly cash flow is $-1k ($-13k/yr) — negative.
• To cash-flow at today's rent, offer at most $124k (58.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $156k (48.1% below list).
• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $124k (58.5% below list) — sets the bar for cash-flow.
• In year one you build about $22k of equity ($2k loan paydown + $20k appreciation (6.7% local appreciation)).
• Location reads 82/100 on livability (#68 in IL, #1,121 nationally) — a professional / high-income tenant draw. Strengths: crime A+, commute A+, cost of living A+; Watch: amenities D+, health & safety D+.
• Proviso Twp Hsd 209 (suburban): math 12% / reading 17% proficiency, ranked #507 of 620 in IL (top 82%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Grant Elem School (301 students, 0% FRL); Roosevelt Middle School (695 students, 0% FRL); Proviso West High School (math 6% / reading 11%, grade F, #584 of 693 statewide, top 85%, 1,868 students, 0% FRL).
• Watch-outs: flood insurance adds $56/mo; built in 1954 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 7 active listings in the ZIP; 14 comparable units currently listed for rent nearby; rentals at typical pace (median 20d on market — plan ~3-4 weeks tenant-placement turnaround); 6,272 units permitted in Cook County in 2024 (4,658 in 5+ unit buildings).
• 2 sale attempts since 6y 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.
• Current owner paid $207k; 45% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• By year 2, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: severe flood risk — expect insurance premiums to compound above CPI over the hold.

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 1954 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are F-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.