1650 Lynwood Ct

Flossmoor, IL 60422

$296,300B+

5 bd · 4.5 ba · 3,020 sqft · Built 1988 · SingleFamily · Pending · 181 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $4,768/mo
• Mortgage (P&I): −$1,554
• Tax + insurance: −$930
• HOA: −$0
• Vac / Maint / Mgmt: −$1,001
• Net cashflow: $1,283/mo
• Annual: $15,394/yr
• Cap rate: 11.49%
• Cash-on-cash: 18.56%
• DSCR: 1.83
• 1% rule: 1.61%
• Cash to close: $82,964

Investor read

• This is a 5-bed/4.5-bath single-family listed at $296k.
• At list price, monthly cash flow is $1k ($15k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $296k).
• It's been on market 181 days — a 12% lower offer ($261k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $261k (12.0% below list) — sets the bar for market timing.
• 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 80/100 on livability (#107 in IL, #1,718 nationally) — a professional / high-income tenant draw. Strengths: employment A+, housing A+, crime B+; Watch: cost of living D, amenities F.
• Homewood Flossmoor Chsd 233 (suburban): math 21% / reading 27% proficiency, ranked #272 of 620 in IL (top 44%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Western Avenue Elem School (math 32% / reading 37%, grade F, #517 of 2,056 statewide, top 28%, 491 students, 0% FRL); Parker Junior High School (math 16% / reading 21%, grade F, #438 of 665 statewide, top 67%, 858 students, 0% FRL); Homewood-Flossmoor High School (math 21% / reading 27%, grade F, #304 of 693 statewide, top 44%, 2,798 students, 0% FRL).
• Watch-outs: property tax is 3.3% of price.
• Market conditions: 95 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); 6,272 units permitted in Cook County in 2024 (4,658 in 5+ unit buildings).
• 4 sale attempts since 19y ago; this cycle's ask has dropped $207k (41%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $83k cash investment doubles in ~7 years — after that, you're playing with house money.
• Cap rate 11.5% vs local median 4.3% in Flossmoor — 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

• It's been on market 181 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
• 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 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?
• 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.
• 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.