641 Bridle Ct #641

Lakemoor, IL 60051

$260,000D-

2 bd · 1.5 ba · 1,526 sqft · Built 2004 · Townhouse · Coming Soon · 16 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,102/mo
• Mortgage (P&I): −$1,363
• Tax + insurance: −$433
• HOA: −$247
• Vac / Maint / Mgmt: −$441
• Net cashflow: $-383/mo
• Annual: $-4,601/yr
• Cap rate: 4.52%
• Cash-on-cash: -6.32%
• DSCR: 0.72
• 1% rule: 0.81%
• Cash to close: $72,800

Investor read

• This is a 2-bed/1.5-bath townhouse listed at $260k.
• At list price, monthly cash flow is $-383 ($-5k/yr) — negative.
• To cash-flow at today's rent, offer at most $205k (21.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $210k (19.2% below list).
• It's been on market 16 days — a 2% lower offer ($256k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $205k (21.3% below list) — sets the bar for cash-flow.
• In year one you build about $28k of equity ($2k loan paydown + $26k appreciation (10.0% local appreciation)).
• Location reads 72/100 on livability (#317 in IL) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, health & safety A-; Watch: schools F, amenities F, commute F.
• Mchenry Chsd 156 (suburban): math 27% / reading 30% proficiency, ranked #244 of 620 in IL (top 39%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 151 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 11d on market — plan ~1-2 weeks tenant-placement turnaround); 1,595 units permitted in McHenry County in 2024 (485 in 5+ unit buildings).
• McHenry County population projected at -12% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• By year 2, paydown + projected appreciation supports a ~$45k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

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?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• 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.
• 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.