215 S Prairie Rd SE · New Lenox, IL 60451

$360,000

4 bd · 1.5 ba · 1,800 sqft · SingleFamily public records · 18 Days on market

Built 1932 10,018 sqft lot Est $342k · 5% over

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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 +14.5/30.0
• ARV discount +5.1/15.0
• DSCR +4.4/10.0
• Schools +4.3/10.0
• 1% rule +4.0/10.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Experience everyday comfort at 215 S Prairie Rd, featuring a layout arranged for practical living. A cozy fireplace anchors a main living area. The kitchen features an accent backsplash and all stainless steel appliances for a cohesive look. The primary bedroom includes double closets, providing ample storage. Outside, a deck overlooks a fenced in backyard, ideal for recreation. This home blends practical features with outdoor appeal.

Key facts

• Double closets
• Fenced in backyard
• Cozy fireplace

Tags

• COZY FIREPLACE
• ACCENT BACKSPLASH
• STAINLESS STEEL APPLIANCES
• DOUBLE CLOSETS
• DECK OVERLOOKS BACKYARD
• FENCED IN BACKYARD

Property features AI

Finance

• Other: Possession at closing
• HOA & community: No master association fee required

Exterior

• Parking: 2 parking spaces total; Detached garage (off-site)
• Utilities: Public sewer
• Home design: Detached single-family home; Fee simple ownership; Built more than 90 years ago; Built before 1978
• Construction: Other construction materials
• Exterior features: Lot less than 0.25 acre; Lot dimensions: 9900

Interior

• Kitchen: Kitchen (main level)
• Bedrooms: 3 bedrooms (Master, two others located on main and second levels)
• Bathrooms: 1 full bath; 1 half bath
• Heating & cooling: Central air
• Interior features: 7 total rooms; Breakfast room; Dining room; Family room; Living room; Laundry room
• Laundry & utility: Dedicated laundry room

What this means for you Summary

Snapshot

• This is a 4-bed/1.5-bath single-family listed at $360k.

Deal economics

• At list price, monthly cash flow is $80 ($955/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $325k (9.7% below list).
• Recommended offer: $325k (9.7% below list) — sets the bar for 1% rule.
• Cap rate 6.6% vs local median 1.7% in New Lenox — 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 79/100 on livability (#127 in IL, #2,348 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: cost of living C-, amenities D, commute F.
• Lincoln Way Chsd 210 (suburban): math 44% / reading 49% proficiency, ranked #60 of 620 in IL (top 10%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Spencer Trail (387 students, 0% FRL); Alex M Martino Jr High School (math 42% / reading 45%, grade D, #101 of 665 statewide, top 16%, 574 students, 0% FRL); Lincoln-Way Central High School (math 45% / reading 49%, grade D-, #53 of 693 statewide, top 8%, 1,962 students, 0% FRL).
• Market conditions: 188 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 2,028 units permitted in Will County in 2024 (530 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 $11k of value loss. Plan a longer hold.
• Will County population projected to shrink 4% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• It's been on market 18 days — a 2% lower offer ($355k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 19y 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 $158k; list at $360k implies a 127% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1932 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $325,000 (9.7% below list)

Questions for the listing agent

1. Built in 1932 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
4. 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?
5. 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.
6. 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.
7. 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.

Investment metrics

• 1% rule: 0.90% ✗
• Cap rate: 6.56%
• Cash-on-cash: 0.95%
• DSCR: 1.04
• GRM: 9.2

CMA / ARV

• ARV (on-the-fly): $342,000
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
133 W Haven Ave	0.27mi	3/1.5 (-1)	1,800 (0%)	19mo	$302,500	$168	67
134 Roberts Rd	0.48mi	3/2.5 (-1)	1,800 (0%)	4mo	$405,000	$225	66
137 E Joliet Hwy	0.36mi	3/2.5 (-1)	1,850 (+3%)	11mo	$217,000	$117	60
210 Roberts Rd	0.52mi	4/2.5	1,757 (-2%)	12mo	$346,000	$197	58
136 W 3rd Ave	0.26mi	4/2.5	1,949 (+8%)	17mo	$350,000	$180	56
601 Ogden Rd	0.45mi	3/1.0 (-1)	1,600 (-11%)	0mo	$320,000	$200	54
111 Oak St	0.43mi	3/1.5 (-1)	1,585 (-12%)	2mo	$290,000	$183	53
624 Oxford Ct	0.52mi	3/3.0 (-1)	1,870 (+4%)	11mo	$355,000	$190	49
300 W Woodlawn Rd	0.71mi	3/2.0 (-1)	1,900 (+6%)	2mo	$445,000	$234	49
523 N Cedar Rd	0.55mi	3/2.5 (-1)	2,000 (+11%)	4mo	$380,000	$190	44
642 Wisconsin Rd	0.61mi	3/2.0 (-1)	2,017 (+12%)	6mo	$481,000	$238	40
632 S Pine St	0.43mi	4/2.0	1,540 (-14%)	21mo	$250,000	$162	36

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold

• IRR: -14.8%
• Equity multiple: 0.47×
• Total profit: $-53,215
• Equity at exit: $53,677

10-year hold

• IRR: -6.1%
• Equity multiple: 0.61×
• Total profit: $-39,610
• Equity at exit: $31,126

Cash invested: $100,800 (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 60451

• Active inventory: 188
• Price-to-rent: 9.2×

Monthly cashflow live

• Estimated rent: $3,250 medium
• Mortgage (P&I): −$1,888
• Tax est. 1.5%: −$450 /mo · $5,400/yr
• Insurance: −$150
• HOA: −$0
• Vacancy / Maint / Mgmt: −$682
• Net cashflow: $80

Break-even live

Break-even rent $3,149

Max offer price $360,000

Occupancy floor 93%

Sensitivity live

Price	-10% $328	-5% $204	+0% $80	+5% $-45	+10% $-169
Rent	-10% $-177	-5% $-49	+0% $80	+5% $208	+10% $336
Rate	-1.0pp $261	-0.5pp $171	base $80	+0.5pp $-14	+1.0pp $-109

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: $90,000
• Closing costs: $10,800
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1013 Stonegate Rd New Lenox, IL	3.0	3.0	1600	$3,250	$2.03	16d	1	0.94mi

Listing history 12 events

1. 2026-06-21
   days on market $360,000 Active 18 DOM
2. 2026-06-18
   days on market $360,000 Active 15 DOM
3. 2026-06-17
   days on market $360,000 Active 14 DOM
4. 2026-06-16
   days on market $360,000 Active 13 DOM
5. 2026-06-15
   days on market $360,000 Active 12 DOM
6. 2026-06-13
   days on market $360,000 Active 10 DOM
7. 2026-06-13
   pricedays on market $360,000 Active 9 DOM
8. 2026-06-09
   days on market $370,000 Active 6 DOM
9. 2026-06-08
   days on market $370,000 Active 5 DOM
10. 2026-06-07
    days on market $370,000 Active 4 DOM
11. 2026-06-04
    remarks 438-char remark
12. 2026-06-04
    listed $370,000 Active 1 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 74% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥103°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: $39,000
• − Mortgage interest: −$20,166
• − Property taxes: −$5,400
• − Insurance: −$1,800
• − Repairs & maintenance: −$3,120
• − Management: −$3,120
• − Depreciation: −$10,473
• Taxable loss: −$5,078
• Est. tax savings @ 24.0%: +$1,219
• After-tax cash flow: $2,174/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: Lincoln Way Chsd 210
• NCES district ID: 1723070
• Math proficiency: 44% ▼ -13.00%
• Reading proficiency: 49% ▼ -9.00%
• Median HH income: $86,879
• Composite: 43.4/100
• National rank: #3019
• State rank: #60 of 620 in IL

Livability — New Lenox

• Score: 79/100
• State rank: #127
• US rank: #2348

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: New Lenox, IL
• City population: 37,481
• Population (ZIP): 37,481

Population outlook (Will County) Hauer SSP2

• Today (2025): 705,368 people
• By 2030: 708,154 · +0.4%
• By 2040: 702,692 · -0.4%
• By 2050: 680,249 · -3.6%
• By 2075: 611,990 · -13.2%
• By 2100: 516,215 · -26.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (89%)
• Race & ethnicity: White 89% Two or more races 6% Hispanic / Latino 5% Asian 1%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Romanian 18% Iranian 4% Italian 1%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Spanish 2% Russian/Polish/Slavic 1%

Political lean MEDSL · Will

• 2024 margin: Toss-up / Even · D 50.1% · R 48.5% · Other 1.4%
• 2008→2024 swing: -11.6pp toward R · 2008: 13.2pp · 2024: 1.6pp
• All cycles: 2024: D+1.6 2020: D+8.3 2016: D+5.7 2012: D+3.7 2008: D+13.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -192.55%
• Current HPI: 239.0926
• 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

+252.4% since first listed

13 events — show timeline

• 2026-06-02 Listed $370,000 MRED as Distributed by MLS Grid
• 2015-05-01 Sold (Public Records) $158,250 Public Records
• 2012-09-18 Listing Removed — MRED as Distributed by MLS Grid
• 2012-08-21 Price Changed — MRED as Distributed by MLS Grid
• 2012-07-19 Price Changed — MRED as Distributed by MLS Grid
• 2012-06-01 Listed — MRED as Distributed by MLS Grid
• 2008-08-05 Listing Removed — MRED as Distributed by MLS Grid
• 2008-04-04 Listed — MRED as Distributed by MLS Grid
• 2007-05-31 Listing Removed — MRED as Distributed by MLS Grid
• 2007-05-01 Listed — MRED as Distributed by MLS Grid
• 2007-04-30 Listing Removed — MRED as Distributed by MLS Grid
• 2007-01-02 Listed — MRED as Distributed by MLS Grid
• 2001-08-01 Sold (Public Records) $105,000 Public Records

Property tax history

+2.7%/yr

Latest (2024): $51 · +3.5% YoY. Source: county tax records.