611 Roger Ave

Kenilworth, IL 60043

$925,000D-

3 bd · 1.5 ba · 1,131 sqft · Built 1948 · SingleFamily · Active · 9 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,789/mo
• Mortgage (P&I): −$4,851
• Tax + insurance: −$818
• HOA: −$0
• Vac / Maint / Mgmt: −$586
• Net cashflow: $-3,465/mo
• Annual: $-41,584/yr
• Cap rate: 1.80%
• Cash-on-cash: -16.06%
• DSCR: 0.29
• 1% rule: 0.30%
• Cash to close: $259,000

Investor read

• This is a 3-bed/1.5-bath single-family listed at $925k.
• At list price, monthly cash flow is $-3k ($-42k/yr) — negative.
• To cash-flow at today's rent, offer at most $313k (66.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $279k (69.9% below list).
• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $279k (69.9% below list) — sets the bar for 1% rule.
• In year one you build about $84k of equity ($6k loan paydown + $78k appreciation (8.4% local appreciation)).
• Location reads 82/100 on livability (#72 in IL, #1,175 nationally) — a professional / high-income tenant draw. Strengths: crime A+, commute A+, employment A+; Watch: cost of living F.
• New Trier Twp Hsd 203 (suburban): math 76% / reading 80% proficiency, ranked #2 of 620 in IL (top 0%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Zoned schools: New Trier Township H S Northfield (923 students, 0% FRL).
• Watch-outs: built in 1948 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 20 active listings in the ZIP; 17 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 6,272 units permitted in Cook County in 2024 (4,658 in 5+ unit buildings).
• 6 sale attempts since 17y ago; this cycle's ask is 97% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $400k; list at $925k implies a 131% gain — meaningful room to come down on a strong offer.
• By year 2, paydown + projected appreciation supports a ~$135k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

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 1948 — 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 A-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?
• 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 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.