6901 167th St

Tinley Park, IL 60477

$269,900D

3 bd · 1.5 ba · 1,128 sqft · Built 1949 · SingleFamily · Pending · 43 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,512/mo
• Mortgage (P&I): −$1,415
• Tax + insurance: −$585
• HOA: −$0
• Vac / Maint / Mgmt: −$527
• Net cashflow: $-16/mo
• Annual: $-197/yr
• Cap rate: 6.22%
• Cash-on-cash: -0.26%
• DSCR: 0.99
• 1% rule: 0.93%
• Cash to close: $75,572

Investor read

• This is a 3-bed/1.5-bath single-family listed at $270k.
• At list price, monthly cash flow is $-16 ($-197/yr) — negative.
• To cash-flow at today's rent, offer at most $267k (1.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $251k (6.9% below list).
• It's been on market 43 days — a 3% lower offer ($262k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $251k (6.9% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k of value loss. Plan a longer hold.
• Location reads 74/100 on livability (#246 in IL, #4,453 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, employment A+, housing A+; Watch: amenities F, health & safety F.
• 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.
• Watch-outs: built in 1949 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 151 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals leasing fast (median 2d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 6,272 units permitted in Cook County in 2024 (4,658 in 5+ unit buildings).
• 2 sale attempts 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 $59k; list at $270k implies a 358% gain — meaningful room to come down on a strong offer.
• Cap rate 6.2% vs local median 4.3% in Tinley Park — 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.
• This rent runs 32% of the median local income ($95k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

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?
• It's been on market 43 days. Have you received any prior offers? Is the seller open to a 7% concession, seller financing, or rate buy-down credit?
• Built in 1949 — 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.
• 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.