22359 S Cedar Dr #118 · Channahon, IL 60410

$179,999

3 bd · 2.0 ba · 1,568 sqft · Manufactured · 177 Days on market

Built 2025 10,000 sqft lot

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Why this score? — see what drove the C+ 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 +26.8/30.0
• DSCR +9.2/10.0
• ARV discount +7.5/15.0
• 1% rule +7.2/10.0
• Livability +3.9/5.0
• Schools +3.1/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +1.2/10.0

Listing remarks

Largest Corner Lot | 55+ Community | Walk-In Pantry | Samsung Appliances Largest corner lot in Remington Woods. Brand-new 1,568 sq ft home with 3 beds, 2 baths, open living, oversized island, walk-in pantry, private primary suite, Samsung appliances, clubhouse, trails, and peaceful 55+ living. Inside, the expansive open floorplan creates effortless flow from the great room into the designer kitchen, showcasing a large island with seating for four, upgraded pendant lighting, and an attached dining area that accommodates six with ease. A walk-in pantry with two full walls of shelving ensures organized, abundant storage. Your private master suite is a true retreat with an oversized bedroom,

Key facts

• Designer kitchen
• Private master suite
• Open floorplan

Tags

• CORNER LOT
• LARGEST YARD
• OPEN FLOORPLAN
• DESIGNER KITCHEN
• WALK-IN PANTRY
• PRIVATE MASTER SUITE

Property features AI

Finance

• Other: Address: 22359 S Cedar Dr #118, Channahon, IL 60410; Listing status: Active
• Financial info: List price $179,999

Exterior

• Utilities: Electric service; Natural gas; Central air
• Home design: Spec home (Remington Woods plan)
• Construction: Living area approximately 1568
• Exterior features: Asphalt roof

Interior

• Kitchen: Dishwasher; Refrigerator
• Bedrooms: 3 bedrooms
• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating (electric and natural gas); Central air conditioning
• Interior features: Dishwasher; Dryer; Refrigerator; Washer
• Laundry & utility: Washer and dryer

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $180k.

Deal economics

• At list price, monthly cash flow is $494 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $180k).
• Recommended offer: $158k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.6% vs local median 2.4% 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.
• Market conditions: 103 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 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 $50k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 177 days — a 12% lower offer ($158k) is reasonable based on typical stale-listing flexibility.

Recommended offer $158,399 (12.0% below list)

Questions for the listing agent

1. It's been on market 177 days. Have you received any prior offers? Is the seller open to a 12% 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: 1.22% ✓
• Cap rate: 9.59%
• Cash-on-cash: 11.76%
• DSCR: 1.52
• GRM: 6.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 1.2%
• Equity multiple: 1.05×
• Total profit: $2,333
• Equity at exit: $26,838

10-year hold

• IRR: 10.8%
• Equity multiple: 1.85×
• Total profit: $42,686
• Equity at exit: $15,563

Cash invested: $50,400 (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 →

ZIP-level market 60410

• Home prices YoY: -3.2%
• Active inventory: 103
• Price-to-rent: 6.8×

Monthly cashflow live

• Estimated rent: $2,200 medium
• Mortgage (P&I): −$944
• Tax est. 1.5%: −$225 /mo · $2,700/yr
• Insurance: −$75
• HOA: −$0
• Vacancy / Maint / Mgmt: −$462
• Net cashflow: $494

Break-even live

Break-even rent $1,575

Max offer price $179,999

Occupancy floor 73%

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: $45,000
• Closing costs: $5,400
• 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	7d	1	0.83mi

Listing history 13 events

1. 2026-06-18
   days on market $179,999 Active 177 DOM
2. 2026-06-17
   days on market $179,999 Active 176 DOM
3. 2026-06-16
   days on market $179,999 Active 175 DOM
4. 2026-06-15
   days on market $179,999 Active 174 DOM
5. 2026-06-13
   days on market $179,999 Active 172 DOM
6. 2026-06-09
   days on market $179,999 Active 168 DOM
7. 2026-06-08
   days on market $179,999 Active 167 DOM
8. 2026-06-07
   days on market $179,999 Active 166 DOM
9. 2026-06-04
   days on market $179,999 Active 163 DOM
10. 2026-06-03
    days on market $179,999 Active 162 DOM
11. 2026-06-02
    days on market $179,999 Active 161 DOM
12. 2026-06-01
    days on market $179,999 Active 160 DOM
13. 2026-05-31
    days on market $179,999 Active 159 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: −$10,083
• − Property taxes: −$2,700
• − Insurance: −$900
• − Repairs & maintenance: −$2,112
• − Management: −$2,112
• − Depreciation: −$5,236
• Taxable income: $3,257
• Est. tax owed @ 24.0%: −$782
• After-tax cash flow: $5,147/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.

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

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
• City population: 14,027
• Population (ZIP): 14,027

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%

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%
• Common ancestry: Romanian 10% Lithuanian 2% Iranian 2%
• Foreign-born: 3% · Canada
• Languages at home: 94% English-only · Spanish 5% Other Indo-European 1%

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

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