3242 Roesner Dr

Markham, IL 60428

$198,000D-

3 bd · 1.0 ba · 1,036 sqft · Built 1960 · SingleFamily · Active · 24 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,492/mo
• Mortgage (P&I): −$1,038
• Tax + insurance: −$262
• HOA: −$0
• Vac / Maint / Mgmt: −$313
• Net cashflow: $-122/mo
• Annual: $-1,459/yr
• Cap rate: 5.56%
• Cash-on-cash: -2.63%
• DSCR: 0.88
• 1% rule: 0.75%
• Cash to close: $55,440

Investor read

• This is a 3-bed/1.0-bath single-family listed at $198k.
• At list price, monthly cash flow is $-122 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $177k (10.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $149k (24.7% below list).
• It's been on market 24 days — a 2% lower offer ($195k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $149k (24.7% below list) — sets the bar for 1% rule.
• In year one you build about $21k of equity ($1k loan paydown + $20k appreciation (10.0% local appreciation)).
• Location reads 76/100 on livability (#186 in IL, #3,539 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: crime D, amenities D, employment D.
• Bremen Chsd 228 (suburban): math 15% / reading 17% proficiency, ranked #468 of 620 in IL (top 76%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Central Park Elem School (math 4% / reading 14%, grade F, #1,611 of 2,056 statewide, top 79%, 646 students, 0% FRL); Bremen High School (math 8% / reading 11%, grade F, #577 of 693 statewide, top 84%, 1,497 students, 0% FRL).
• Market conditions: 66 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals leasing fast (median 8d on market — plan ~1-2 weeks tenant-placement turnaround); 6,272 units permitted in Cook County in 2024 (4,658 in 5+ unit buildings).
• 2 sale attempts since 3y 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 $81k; list at $198k implies a 144% gain — meaningful room to come down on a strong offer.
• By year 2, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: moderate flood risk — expect insurance premiums to compound above CPI over the hold.
• Cap rate 5.6% vs local median 10.2% in Markham — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

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 1960 — 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 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?
• Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
• 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.