1279 Summersweet Ln

Bartlett, IL 60103

$300,000D+

2 bd · 1.5 ba · 1,623 sqft · Built 1995 · Townhouse · Contingent - Continue to Show · 4 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,766/mo
• Mortgage (P&I): −$1,573
• Tax + insurance: −$330
• HOA: −$223
• Vac / Maint / Mgmt: −$581
• Net cashflow: $59/mo
• Annual: $707/yr
• Cap rate: 6.53%
• Cash-on-cash: 0.84%
• DSCR: 1.04
• 1% rule: 0.92%
• Cash to close: $84,000

Investor read

• This is a 2-bed/1.5-bath townhouse listed at $300k.
• At list price, monthly cash flow is $59 ($707/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $277k (7.8% below list).
• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $277k (7.8% 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 80/100 on livability (#103 in IL, #1,657 nationally) — a professional / high-income tenant draw. Strengths: crime A+, employment A+, housing A+; Watch: cost of living D+, amenities F.
• SD U-46 (suburban): math 19% / reading 20% proficiency, ranked #386 of 620 in IL (top 62%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Liberty Elem School (math 32% / reading 37%, grade F, #517 of 2,056 statewide, top 28%, 411 students, 0% FRL); Kenyon Woods Middle School (math 44% / reading 44%, grade D, #95 of 665 statewide, top 15%, 905 students, 0% FRL); South Elgin High School (math 32% / reading 33%, grade F, #152 of 693 statewide, top 22%, 2,844 students, 0% FRL) — zoned schools average 0% FRL vs 52% district-wide (52 pts lower); this property's tenant base skews higher-income than the district average.
• Zoned-school proficiency averages 37% at this address vs 20% district-wide (+18 pts) — the actual schools serving this property are materially stronger than the SD U-46 average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: 121 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals at typical pace (median 27d on market — plan ~3-4 weeks tenant-placement turnaround); high-income renter base; 6,272 units permitted in Cook County in 2024 (4,658 in 5+ unit buildings).
• Current owner paid $158k; list at $300k implies a 90% gain — meaningful room to come down on a strong offer.
• Cap rate 6.5% vs local median 3.7% in Bartlett — 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

• 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 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?
• 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.