9005 S Utica Ave

Evergreen Park, IL 60805

$295,000D

3 bd · 1.0 ba · 1,242 sqft · Built 1953 · SingleFamily · Contingent - Continue to Show · 7 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,638/mo
• Mortgage (P&I): −$1,547
• Tax + insurance: −$579
• HOA: −$0
• Vac / Maint / Mgmt: −$554
• Net cashflow: $-42/mo
• Annual: $-501/yr
• Cap rate: 6.12%
• Cash-on-cash: -0.61%
• DSCR: 0.97
• 1% rule: 0.89%
• Cash to close: $82,600

Investor read

• This is a 3-bed/1.0-bath single-family listed at $295k.
• At list price, monthly cash flow is $-42 ($-501/yr) — negative.
• To cash-flow at today's rent, offer at most $288k (2.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $264k (10.6% below list).
• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $264k (10.6% 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 $9k of value loss. Plan a longer hold.
• Location reads 87/100 on livability (#14 in IL, #327 nationally) — a professional / high-income tenant draw. Strengths: commute A+, employment A+, housing A+; Watch: crime D+.
• Evergreen Park Chsd 231 (suburban): math 25% / reading 23% proficiency, ranked #303 of 620 in IL (top 49%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Evergreen Park High School (math 25% / reading 23%, grade F, #304 of 693 statewide, top 44%, 931 students, 0% FRL).
• Watch-outs: built in 1953 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 37 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals leasing fast (median 6d on market — plan ~1-2 weeks tenant-placement turnaround); 6,272 units permitted in Cook County in 2024 (4,658 in 5+ unit buildings).

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 1953 — 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 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?
• Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
• 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.