1500 Robin Cir #314

Hoffman Estates, IL 60169

$164,900D

1 bd · 1.0 ba · 650 sqft · Built 1980 · Condo · Active · 111 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,747/mo
• Mortgage (P&I): −$865
• Tax + insurance: −$246
• HOA: −$306
• Vac / Maint / Mgmt: −$367
• Net cashflow: $-37/mo
• Annual: $-440/yr
• Cap rate: 6.03%
• Cash-on-cash: -0.95%
• DSCR: 0.96
• 1% rule: 1.06%
• Cash to close: $46,172

Investor read

• This is a 1-bed/1.0-bath condo listed at $165k.
• At list price, monthly cash flow is $-37 ($-440/yr) — negative.
• To cash-flow at today's rent, offer at most $158k (3.9% below list).
• Meets the 1% rule at list price ($2k rent vs $165k).
• It's been on market 111 days — a 9% lower offer ($150k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $150k (9.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Location reads 76/100 on livability (#189 in IL, #3,583 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, employment A+, housing A+; Watch: cost of living C-, amenities F, health & safety F.
• Township Hsd 211 (urban): math 45% / reading 43% proficiency, ranked #89 of 620 in IL (top 14%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Neil Armstrong Elem School (math 27% / reading 37%, grade F, #586 of 2,056 statewide, top 31%, 497 students, 0% FRL); Dwight D Eisenhower Jhs (math 36% / reading 51%, grade D, #101 of 665 statewide, top 16%, 617 students, 0% FRL); Hoffman Estates High School (math 39% / reading 36%, grade F, #104 of 693 statewide, top 15%, 2,067 students, 0% FRL).
• Market conditions: Rents rising fast (+4.0%/yr); 87 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 1d 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 since 13y 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 $84k; list at $165k implies a 96% gain — meaningful room to come down on a strong offer.
• Cap rate 6.0% vs local median 3.9% in Hoffman Estates — 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?
• It's been on market 111 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• 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.