501 Carlysle Dr #7

Clarendon Hills, IL 60514

$164,500D

1 bd · 1.0 ba · 620 sqft · Built 1966 · Condo · Active · 145 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,834/mo
• Mortgage (P&I): −$863
• Tax + insurance: −$200
• HOA: −$426
• Vac / Maint / Mgmt: −$385
• Net cashflow: $-39/mo
• Annual: $-469/yr
• Cap rate: 6.01%
• Cash-on-cash: -1.02%
• DSCR: 0.95
• 1% rule: 1.12%
• Cash to close: $46,060

Investor read

• This is a 1-bed/1.0-bath condo listed at $164k.
• At list price, monthly cash flow is $-39 ($-469/yr) — negative.
• To cash-flow at today's rent, offer at most $158k (4.2% below list).
• Meets the 1% rule at list price ($2k rent vs $164k).
• It's been on market 145 days — a 12% lower offer ($145k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $145k (12.0% 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 83/100 on livability (#48 in IL, #978 nationally) — a professional / high-income tenant draw. Strengths: crime A+, commute A+, employment A+; Watch: health & safety C-, amenities F, cost of living F.
• Hinsdale Twp Hsd 86 (suburban): math 62% / reading 64% proficiency, ranked #17 of 620 in IL (top 3%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Holmes Elem School (503 students, 0% FRL); Westview Hills Middle School (math 47% / reading 50%, grade C-, #63 of 665 statewide, top 9%, 444 students, 0% FRL); Hinsdale Central High School (math 71% / reading 72%, grade B+, #8 of 693 statewide, top 1%, 2,472 students, 0% FRL).
• Watch-outs: HOA is 23% of rent.
• Market conditions: 27 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 27d on market — plan ~3-4 weeks tenant-placement turnaround); high-income renter base; 1,378 units permitted in DuPage County in 2024 (594 in 5+ unit buildings).
• 4 sale attempts since 16y 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 $70k; list at $164k implies a 137% gain — meaningful room to come down on a strong offer.
• Cap rate 6.0% vs local median 0.7% in Clarendon Hills — 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 145 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Built in 1966 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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.
• 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?