6415 Wood Dr

Cary, IL 60013

$325,000D

3 bd · 1.5 ba · 1,766 sqft · Built 1985 · SingleFamily · Coming Soon · 3 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,800/mo
• Mortgage (P&I): −$1,704
• Tax + insurance: −$542
• HOA: −$0
• Vac / Maint / Mgmt: −$588
• Net cashflow: $-34/mo
• Annual: $-408/yr
• Cap rate: 6.17%
• Cash-on-cash: -0.45%
• DSCR: 0.98
• 1% rule: 0.86%
• Cash to close: $91,000

Investor read

• This is a 3-bed/1.5-bath single-family listed at $325k.
• At list price, monthly cash flow is $-34 ($-408/yr) — negative.
• To cash-flow at today's rent, offer at most $320k (1.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $280k (13.8% below list).
• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $280k (13.8% 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 $10k of value loss. Plan a longer hold.
• Location reads 75/100 on livability (#227 in IL, #4,227 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: amenities F, commute F, health & safety F.
• Chsd 155 (suburban): math 41% / reading 42% proficiency, ranked #98 of 620 in IL (top 16%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 60 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 1,595 units permitted in McHenry County in 2024 (485 in 5+ unit buildings).
• McHenry County population projected at -12% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• Cap rate 6.2% vs local median 4.2% in Cary — 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.

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?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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.