22359 Cedar Dr #118 · Channahon, IL 60410

$172,500

3 bd · 2.0 ba · 1,568 sqft · SingleFamily · 74 Days on market

55+ age-restricted Built 2026 Good condition 7,000 sqft lot $110/sqft · 46% below area Est $321k · 46% under

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Why this score? — see what drove the B- grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +21.6/30.0
• ARV discount +15.0/15.0
• DSCR +7.5/10.0
• 1% rule +6.4/10.0
• Condition / age +4.0/5.0
• Livability +3.9/5.0
• Schools +3.1/10.0
• Rent growth +2.5/5.0
• Appreciation +1.2/10.0

Listing remarks

Largest Corner Lot | 55+ Community | Walk-In Pantry | Samsung Smart Appliances Claim one of the most desirable homesites in Remington Woods. This brand-new 1,568 sq. ft. ranch-style home sits on the community's largest corner lot, giving you exceptional outdoor space and incredible flexibility for a future garage. Step inside to a bright, expansive open floor plan designed for easy everyday living and entertaining. The great room flows directly into the designer kitchen and dining area, creating one large, connected living space. At the center of the kitchen is an oversized island with seating for four, upgraded pendant lighting and generous prep space.

Key facts

• Samsung appliances
• Largest corner lot
• Walk-in pantry

Tags

• LARGEST CORNER LOT
• WALK-IN PANTRY
• SAMSUNG APPLIANCES

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $172k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $546 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $172k).
• Recommended offer: $162k (6.0% below list) — sets the bar for market timing.
• Cap rate 10.1% vs local median 3.8% in Channahon — 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.

Location & tenants

• Location reads 78/100 on livability (#143 in IL, #2,614 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: amenities F, commute F.
• Minooka Chsd 111 (suburban): math 28% / reading 36% proficiency, ranked #187 of 620 in IL (top 30%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Troy Heritage Trail School (math 17% / reading 27%, grade F, #940 of 2,056 statewide, top 49%, 422 students, 0% FRL); Troy Middle School (math 36% / reading 42%, grade F, #151 of 665 statewide, top 23%, 912 students, 0% FRL); Minooka Community High School (math 28% / reading 36%, grade F, #157 of 693 statewide, top 25%, 2,930 students, 0% FRL).
• Market conditions: 173 active listings in the ZIP; 1 comparable units currently listed for rent nearby; high-income renter base; 2,028 units permitted in Will County in 2024 (530 in 5+ unit buildings).

Forward outlook

• 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.
• Will County population projected to shrink 4% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $48k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 74 days — a 6% lower offer ($162k) is reasonable based on typical stale-listing flexibility.

Recommended offer $162,150 (6.0% below list)

Questions for the listing agent

1. It's been on market 74 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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.
5. 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.
6. 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.

Investment metrics

• 1% rule: 1.28% ✓
• Cap rate: 10.09%
• Cash-on-cash: 13.56%
• DSCR: 1.60
• GRM: 6.5

CMA / ARV

• ARV (median comp): $320,797
• List price: $172,500
• Delta: -46.23%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
22318 S Deal Ave	0.63mi	4/2.5 (+1)	1,589 (+1%)	15mo	$285,000	$179	48
22524 S Deal Ave	0.66mi	3/2.0	1,400 (-11%)	12mo	$285,000	$204	41
22419 S Joseph Ave	0.72mi	3/2.0	1,704 (+9%)	13mo	$255,000	$150	41
22823 S Michael Dr	0.64mi	4/2.5 (+1)	1,728 (+10%)	18mo	$405,000	$234	31
22429 S Deal Ave	0.66mi	3/2.0	1,742 (+11%)	23mo	$335,000	$192	31

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 3.7%
• Equity multiple: 1.14×
• Total profit: $6,849
• Equity at exit: $25,720

10-year hold

• IRR: 13.2%
• Equity multiple: 2.05×
• Total profit: $50,868
• Equity at exit: $14,915

Cash invested: $48,300 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 43 Moderately Tenant-Leaning
• State Illinois: 43 Moderately Tenant-Leaning · D+7
• County: — inherits STATE
• City: — inherits STATE

Chicago RTLO is among the strongest tenant ordinances in the Midwest; downstate is more landlord-friendly.

Methodology + full state rankings →

Buyer's market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

• For sale now: 8 active · 6 under contract
• Months of supply: 9.6 mo (10%/mo absorbed)
• Median asking: $173,750 ($121/sqft)
• Median days on market: 94 d
• This list price: 50% of active listings are priced below it
• ARV vs active asking: +69.3% above current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 60410

• Home prices YoY: -3.2%
• Active inventory: 173
• Price-to-rent: 6.5×

Monthly cashflow live

• Estimated rent: $2,200 medium
• Mortgage (P&I): −$905
• Tax est. 1.5%: −$216 /mo · $2,588/yr
• Insurance: −$72
• HOA: −$0
• Vacancy / Maint / Mgmt: −$462
• Net cashflow: $546

Break-even live

Break-even rent $1,509

Max offer price $172,500

Occupancy floor 70%

Sensitivity live

Price	-10% $665	-5% $605	+0% $546	+5% $486	+10% $427
Rent	-10% $372	-5% $459	+0% $546	+5% $633	+10% $720
Rate	-1.0pp $633	-0.5pp $590	base $546	+0.5pp $501	+1.0pp $456

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $43,125
• Closing costs: $5,175
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
22451 S Carrie Ave Channahon, IL	3.0	1.0	1176	$2,200	$1.87	148d	1	0.83mi

Property features AI

Finance

• Other: Address: 22359 Cedar Dr #118, Channahon, IL 60410Listing status: Active
• Financial info: List price $175000

Exterior

• Parking: 2 parking spaces (total)
• Utilities: Has heatingHas cooling
• Home design: Spec home from the Remington Woods plan
• Construction: Living area 1568
• Exterior features: Asphalt and shake roof

Interior

• Kitchen: Includes refrigeratorIncludes dishwasher
• Bedrooms: 3 bedrooms
• Bathrooms: 2 full bathrooms
• Heating & cooling: Heating: Electric and Natural Gas with forced airCooling: Central air and ceiling fan(s)
• Interior features: RefrigeratorDishwasher

Listing history 50 events

1. 2026-11-08
   days on market $172,500 Active 74 DOM
2. 2026-11-07
   days on market $172,500 Active 73 DOM
3. 2026-11-06
   days on market $172,500 Active 72 DOM
4. 2026-11-05
   days on market $172,500 Active 71 DOM
5. 2026-11-04
   days on market $172,500 Active 70 DOM
6. 2026-11-02
   days on market $172,500 Active 68 DOM
7. 2026-11-01
   days on market $172,500 Active 67 DOM
8. 2026-10-31
   days on market $172,500 Active 66 DOM
9. 2026-10-30
   days on market $172,500 Active 65 DOM
10. 2026-10-29
    days on market $172,500 Active 64 DOM
11. 2026-10-28
    days on market $172,500 Active 63 DOM
12. 2026-10-27
    days on market $172,500 Active 62 DOM
13. 2026-10-26
    days on market $172,500 Active 61 DOM
14. 2026-10-25
    days on market $172,500 Active 60 DOM
15. 2026-10-24
    days on market $172,500 Active 59 DOM
16. 2026-10-23
    days on market $172,500 Active 58 DOM
17. 2026-10-22
    days on market $172,500 Active 57 DOM
18. 2026-10-21
    days on market $172,500 Active 56 DOM
19. 2026-10-20
    days on market $172,500 Active 55 DOM
20. 2026-10-19
    days on market $172,500 Active 54 DOM
21. 2026-10-18
    days on market $172,500 Active 53 DOM
22. 2026-10-17
    days on market $172,500 Active 52 DOM
23. 2026-10-16
    days on market $172,500 Active 51 DOM
24. 2026-10-15
    pricedays on market $172,500 Active 50 DOM
25. 2026-10-14
    days on market $175,000 Active 49 DOM
26. 2026-10-13
    days on market $175,000 Active 48 DOM
27. 2026-10-12
    days on market $175,000 Active 47 DOM
28. 2026-10-11
    days on market $175,000 Active 46 DOM
29. 2026-10-10
    days on market $175,000 Active 45 DOM
30. 2026-10-09
    days on market $175,000 Active 44 DOM
31. 2026-10-08
    days on market $175,000 Active 43 DOM
32. 2026-10-07
    days on market $175,000 Active 42 DOM
33. 2026-10-06
    days on market $175,000 Active 41 DOM
34. 2026-10-05
    days on market $175,000 Active 40 DOM
35. 2026-10-04
    days on market $175,000 Active 39 DOM
36. 2026-10-03
    days on market $175,000 Active 38 DOM
37. 2026-10-02
    days on market $175,000 Active 37 DOM
38. 2026-10-01
    days on market $175,000 Active 36 DOM
39. 2026-09-30
    days on market $175,000 Active 35 DOM
40. 2026-09-29
    days on market $175,000 Active 34 DOM
41. 2026-09-28
    days on market $175,000 Active 33 DOM
42. 2026-09-27
    days on market $175,000 Active 32 DOM
43. 2026-09-26
    days on market $175,000 Active 31 DOM
44. 2026-09-25
    days on market $175,000 Active 30 DOM
45. 2026-09-24
    days on market $175,000 Active 29 DOM
46. 2026-09-23
    days on market $175,000 Active 28 DOM
47. 2026-09-22
    days on market $175,000 Active 27 DOM
48. 2026-09-21
    days on market $175,000 Active 26 DOM
49. 2026-09-20
    days on market $175,000 Active 25 DOM
50. 2026-09-19
    days on market $175,000 Active 24 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $26,400
• − Mortgage interest: −$9,663
• − Property taxes: −$2,588
• − Insurance: −$862
• − Repairs & maintenance: −$2,112
• − Management: −$2,112
• − Depreciation: −$5,018
• Taxable income: $4,045
• Est. tax owed @ 24.0%: −$971
• After-tax cash flow: $5,580/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Condition & rehab AI · 9 photos

Good 80/100 Cosmetic rehab Est. rehab $7,840–$23,520 screening

This corner lot home in Remington Woods is in good condition with a modern kitchen and fresh paint. It offers a spacious floor plan and a well-maintained exterior. Potential buyers or renters would appreciate landscaping and smart home improvements.

Value-add opportunities

• Both Landscaping and curb appeal improvements — Enhances the home's curb appeal and can attract more buyers or renters. ↑
• Both Add a smart home system — Improves convenience and can be a selling point for potential buyers or renters. ↑
• Both Add a smart thermostat — Enhances energy efficiency and can be a selling point for potential buyers or renters. ↑

ⓘ Rehab cost is a screening estimate — Cosmetic scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

F Composite school gradezoned avg 31/100

Zoned Schools

Elementary Troy Heritage Trail School F IL #940/2,056 Nat'l #32,000/41,679 Middle Troy Middle School F IL #151/665 Nat'l #6,362/14,009 High Minooka Community High School F IL #157/693 Nat'l #10,416/17,239

Schools (NCES district)

• District: Minooka Chsd 111
• NCES district ID: 1726340
• Math proficiency: 28% ▼ -8.00%
• Reading proficiency: 36% ▼ -7.00%
• Median HH income: $81,260
• Composite: 30.82/100
• National rank: #6138
• State rank: #187 of 620 in IL

B Composite livability gradescore 78/100

Livability — Channahon

• Score: 78/100
• State rank: #143
• US rank: #2614

Category grades

Amenities F Commute F Cost of living B- Crime A+ Employment A+ Housing A+ Health & safety A+ User ratings A

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Channahon, IL
• County: Will · 705,368 people
• City population: 14,027
• Metro: Chicago-Naperville-Elgin, IL-IN
• Population (ZIP): 14,027
• Household income: $120,278
• Rent vs Own: 9.9% rent · 90.1% own

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Population outlook (Will County) Hauer SSP2

• Today (2025): 705,368 people
• By 2030: 708,154 · +0.4%
• By 2040: 702,692 · -0.4%
• By 2050: 680,249 · -3.6%
• By 2075: 611,990 · -13.2%
• By 2100: 516,215 · -26.8%

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Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (82%)
• Race & ethnicity: White 82% Hispanic / Latino 14% Two or more races 5%
• Hispanic origin (detail): Mexican 7% Puerto Rican 4% Cuban 2%
• Languages at home: 94% English-only · Spanish 5% Other Indo-European 1%

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Political lean MEDSL · Will

• 2024 margin: Toss-up / Even · D 50.1% · R 48.5% · Other 1.4%
• 2008→2024 swing: -11.6pp toward R · 2008: 13.2pp · 2024: 1.6pp
• All cycles: 2024: D+1.6 2020: D+8.3 2016: D+5.7 2012: D+3.7 2008: D+13.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -7.58%
• Current HPI: 227.2488
• Rent YoY: —
• Metro: —
• State GDP YoY: ▲ 1.59%
• F500 in state: 60

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Industry mix (Fortune 500 HQ in IL)

Industry	F500 HQs	Revenue
▸Insurance	4	$201B
▸Consumer Goods	4	$87B
▸Industrial Machinery	3	$64B
▸Healthcare	2	$55B
▸Retail / Pharmacy	1	$148B
▸Agriculture / Food	1	$86B

Property features AI

Finance

• Other: Address: 22359 Cedar Dr #118, Channahon, IL 60410Listing status: Active
• Financial info: List price $175000

Exterior

• Parking: 2 parking spaces (total)
• Utilities: Has heatingHas cooling
• Home design: Spec home from the Remington Woods plan
• Construction: Living area 1568
• Exterior features: Asphalt and shake roof

Interior

• Kitchen: Includes refrigeratorIncludes dishwasher
• Bedrooms: 3 bedrooms
• Bathrooms: 2 full bathrooms
• Heating & cooling: Heating: Electric and Natural Gas with forced airCooling: Central air and ceiling fan(s)
• Interior features: RefrigeratorDishwasher