6605 Langsford Ln · Joliet, IL 60586

$318,000

3 bd · 2.5 ba · 1,850 sqft · Other public records · 91 Days on market

Built 1999 $172/sqft · 9% below area Est $349k · 9% under ↓ 14% since listing

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Why this score? — see what drove the D+ 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 +14.7/30.0
• ARV discount +11.5/15.0
• DSCR +4.5/10.0
• 1% rule +4.2/10.0
• Livability +3.9/5.0
• Rent growth +3.6/5.0
• Schools +2.9/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Listing price $318,000 The seller does not represent or guarantee occupancy status. NO viewings of this property. Please DO NOT DISTURB the occupant. Drive by only. Two-story home with attached 2 car garage. 3 bedrooms and 1.1 bathrooms. AS IS, cash only sales with no contingencies or inspections. Buyer will be responsible for obtaining possession of the property upon closing. Property sold without contingencies, repairs, warranties, guarantees or representation as to listing accuracy, property information, photo or other depiction included or described herein. Auction.

Key facts

• 2 garage spots
• Built 1999
• Listed 91 days

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath other listed at $318k.

Deal economics

• At list price, monthly cash flow is $81 ($974/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 $292k (8.1% below list).
• Recommended offer: $289k (9.0% below list) — sets the bar for market timing.
• Cap rate 6.6% vs local median 4.8% in Joliet — 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 (#153 in IL, #2,772 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, housing A+, cost of living A; Watch: amenities C-, health & safety C-, schools F.
• Plainfield SD 202 (suburban): math 25% / reading 32% proficiency, ranked #213 of 620 in IL (top 34%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; only 17% free/reduced lunch — higher-income household profile.
• Market conditions: Rents rising fast (+4.3%/yr); 115 active listings in the ZIP; 21 comparable units currently listed for rent nearby; rentals at typical pace (median 19d on market — plan ~3-4 weeks tenant-placement turnaround); 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 $2k of loan paydown is wiped out by about $10k 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.

Negotiation context

• It's been on market 91 days — a 9% lower offer ($289k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 20y ago; this cycle's ask has dropped $53k (14%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $289,380 (9.0% below list)

Questions for the listing agent

1. It's been on market 91 days. Have you received any prior offers? Is the seller open to a 9% 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. 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?
5. 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?
6. 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.
7. 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.
8. 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: 0.92% ✗
• Cap rate: 6.60%
• Cash-on-cash: 1.09%
• DSCR: 1.05
• GRM: 9.1

CMA / ARV

• ARV (median comp): $349,338
• List price: $318,000
• Delta: -8.97%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 4.29% rent growth · sell at horizon

5-year hold

• IRR: -13.1%
• Equity multiple: 0.52×
• Total profit: $-42,461
• Equity at exit: $47,415

10-year hold

• IRR: -2.2%
• Equity multiple: 0.84×
• Total profit: $-13,893
• Equity at exit: $27,495

Cash invested: $89,040 (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 60586

• Home prices YoY: -33.7%
• Rents YoY: 4.3%
• Active inventory: 115
• Price-to-rent: 9.1×

Monthly cashflow live

• Estimated rent: $2,921 high
• Mortgage (P&I): −$1,668
• Tax from tax record: −$426 /mo · $5,115/yr
• Insurance: −$132
• HOA: −$0
• Vacancy / Maint / Mgmt: −$613
• Net cashflow: $81

Break-even live

Break-even rent $2,818

Max offer price $318,000

Occupancy floor 92%

Sensitivity live

Price	-10% $261	-5% $171	+0% $81	+5% $-9	+10% $-99
Rent	-10% $-150	-5% $-34	+0% $81	+5% $197	+10% $312
Rate	-1.0pp $241	-0.5pp $162	base $81	+0.5pp $-1	+1.0pp $-85

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: $79,500
• Closing costs: $9,540
• Reserves months: —
• Total cash needed: —

Rent comps 21 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2513 Ruth Fitzgerald Dr Plainfield, IL	4.0	2.0	2394	$3,129	$1.31	4d	1	0.28mi
2914 Frank Turk Dr Plainfield, IL	4.0	2.0	1792	$2,800	$1.56	45d	1	0.36mi
2745 Canyon Dr Plainfield, IL	2.0	1.5	1280	$2,650	$2.07	45d	1	0.53mi
2745 Canyon Dr Plainfield, IL	2.0	1.5	1280	$2,500	$1.95	16d	1	0.53mi
2625 Canyon Dr Unit 2625 Plainfield, IL	3.0	2.5	1280	$2,495	$1.95	45d	1	0.58mi
6924 Clearwater Dr Plainfield, IL	2.0	2.5	1784	$1,999	$1.12	0d	1	0.71mi
6924 Clearwater Dr Plainfield, IL	2.0	2.5	1784	$2,300	$1.29	6d	1	0.71mi
7211 Bradley Dr Plainfield, IL	3.0	1.5	1316	$2,299	$1.75	45d	1	0.83mi
7211 Bradley Dr Plainfield, IL	4.0	1.5	1316	$2,399	$1.82	16d	1	0.83mi
7211 Bradley Dr Plainfield, IL	3.0	1.5	1316	$2,399	$1.82	19d	1	0.83mi
2105 Three Forks Dr Plainfield, IL	3.0	2.0	1528	$2,631	$1.72	0d	1	0.90mi
6906 Townsend Blvd Plainfield, IL	3.0	2.0	1528	$2,700	$1.77	20d	1	0.91mi
6802 Daly Ln Plainfield, IL	4.0	2.5	2356	$3,400	$1.44	19d	1	0.94mi
2416 Boxwood Ln Plainfield, IL	3.0	3.5	2359	$3,000	$1.27	0d	1	1.16mi
1812 Cumberland Dr Plainfield, IL	4.0	2.0	2506	$3,699	$1.48	0d	1	1.21mi
2005 Alpine Way Plainfield, IL	3.0	2.5	2359	$3,299	$1.40	4d	1	1.28mi
2002 Alpine Way Plainfield, IL	3.0	2.5	2359	$2,600	$1.10	22d	1	1.31mi
2529 Stonybrook Dr Plainfield, IL	3.0	2.5	1382	$2,550	$1.85	11d	1	1.38mi
2808 River Bend Ln Plainfield, IL	3.0	2.5	1748	$2,800	$1.60	45d	1	1.46mi
5440 Sugarloaf Ct Plainfield, IL	3.0	2.5	1684	$2,595	$1.54	45d	1	1.46mi
25550 W Maurice Ln Plainfield, IL	3.0	2.5	1780	$3,100	$1.74	19d	1	1.47mi

Listing history 17 events

1. 2026-06-13
   statusdays on market $318,000 Pending 91 DOM
2. 2026-06-09
   days on market $318,000 Auction 89 DOM
3. 2026-06-08
   days on market $318,000 Auction 88 DOM
4. 2026-06-07
   days on market $318,000 Auction 87 DOM
5. 2026-06-04
   days on market $318,000 Auction 84 DOM
6. 2026-06-03
   days on market $318,000 Auction 83 DOM
7. 2026-06-02
   days on market $318,000 Auction 82 DOM
8. 2026-06-01
   days on market $318,000 Auction 81 DOM
9. 2026-05-31
   days on market $318,000 Auction 80 DOM
10. 2026-05-19
    price $318,000 576-char remark

    Show marketing remark (576 chars)

    Listing price $318,000 The seller does not represent or guarantee occupancy status. NO viewings of this property. Please DO NOT DISTURB the occupant. Drive by only. Two-story home with attached 2 car garage. 3 bedrooms and 1.1 bathrooms. AS IS, cash only sales with no contingencies or inspections. Buyer will be responsible for obtaining possession of the property upon closing. Property sold without contingencies, repairs, warranties, guarantees or representation as to listing accuracy, property information, photo or other depiction included or described herein. Auction.

11. 2026-04-27
    price $329,000 576-char remark

    Show marketing remark (576 chars)

    Listing price $318,000 The seller does not represent or guarantee occupancy status. NO viewings of this property. Please DO NOT DISTURB the occupant. Drive by only. Two-story home with attached 2 car garage. 3 bedrooms and 1.1 bathrooms. AS IS, cash only sales with no contingencies or inspections. Buyer will be responsible for obtaining possession of the property upon closing. Property sold without contingencies, repairs, warranties, guarantees or representation as to listing accuracy, property information, photo or other depiction included or described herein. Auction.

12. 2026-04-16
    status Auction 576-char remark

    Show marketing remark (576 chars)

    Listing price $318,000 The seller does not represent or guarantee occupancy status. NO viewings of this property. Please DO NOT DISTURB the occupant. Drive by only. Two-story home with attached 2 car garage. 3 bedrooms and 1.1 bathrooms. AS IS, cash only sales with no contingencies or inspections. Buyer will be responsible for obtaining possession of the property upon closing. Property sold without contingencies, repairs, warranties, guarantees or representation as to listing accuracy, property information, photo or other depiction included or described herein. Auction.

13. 2026-04-10
    status Pending 576-char remark

    Show marketing remark (576 chars)

    Listing price $318,000 The seller does not represent or guarantee occupancy status. NO viewings of this property. Please DO NOT DISTURB the occupant. Drive by only. Two-story home with attached 2 car garage. 3 bedrooms and 1.1 bathrooms. AS IS, cash only sales with no contingencies or inspections. Buyer will be responsible for obtaining possession of the property upon closing. Property sold without contingencies, repairs, warranties, guarantees or representation as to listing accuracy, property information, photo or other depiction included or described herein. Auction.

14. 2026-03-27
    price $345,100 576-char remark

    Show marketing remark (576 chars)

    Listing price $318,000 The seller does not represent or guarantee occupancy status. NO viewings of this property. Please DO NOT DISTURB the occupant. Drive by only. Two-story home with attached 2 car garage. 3 bedrooms and 1.1 bathrooms. AS IS, cash only sales with no contingencies or inspections. Buyer will be responsible for obtaining possession of the property upon closing. Property sold without contingencies, repairs, warranties, guarantees or representation as to listing accuracy, property information, photo or other depiction included or described herein. Auction.

15. 2026-03-06
    listed $371,000 Auction 576-char remark

    Show marketing remark (576 chars)

    Listing price $318,000 The seller does not represent or guarantee occupancy status. NO viewings of this property. Please DO NOT DISTURB the occupant. Drive by only. Two-story home with attached 2 car garage. 3 bedrooms and 1.1 bathrooms. AS IS, cash only sales with no contingencies or inspections. Buyer will be responsible for obtaining possession of the property upon closing. Property sold without contingencies, repairs, warranties, guarantees or representation as to listing accuracy, property information, photo or other depiction included or described herein. Auction.

16. 2006-11-11
    historical
17. 2006-09-22
    listed

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

Tax reassessment forecast IL · Partial reset (capped growth)

• Current annual tax: $5,115 · $426/mo
• Projected year-2 tax: $6,167 · $514/mo
• Expected delta: +$1,052/yr (+$88/mo · 20.6%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥102°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $35,051
• − Mortgage interest: −$17,813
• − Property taxes: −$5,115
• − Insurance: −$1,590
• − Repairs & maintenance: −$2,804
• − Management: −$2,804
• − Depreciation: −$9,251
• Taxable loss: −$4,326
• Est. tax savings @ 24.0%: +$1,038
• After-tax cash flow: $2,012/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: Plainfield SD 202
• NCES district ID: 1731740
• Math proficiency: 25% ▼ -16.00%
• Reading proficiency: 32% ▼ -14.00%
• Median HH income: $90,706
• Composite: 28.83/100
• National rank: #6653
• State rank: #213 of 620 in IL

Livability — Joliet

• Score: 78/100
• State rank: #153
• US rank: #2772

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Joliet, IL
• County: Will County · 412,448 people
• City population: 68,632
• Metro: Chicago-Naperville-Elgin, IL-IN-WI
• Population (ZIP): 47,834
• Household income: $131,637
• Rent vs Own: 8.5% rent · 91.5% own
• Severe rent burden: 178.0

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: Diverse neighborhood (Simpson 0.57)
• Race & ethnicity: White 61% Hispanic / Latino 22% Two or more races 12% Black 11% Asian 4%
• Hispanic origin (detail): Mexican 17% Puerto Rican 2%
• Common ancestry: Romanian 11% Italian 2% Iranian 1%
• Foreign-born: 11% · Canada, China
• Languages at home: 81% English-only · Spanish 12% Other Indo-European 3% Russian/Polish/Slavic 2%

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: ▼ -105.85%
• Current HPI: 208.2858
• Rent YoY: ▲ 4.29%
• Metro: Chicago-Naperville-Elgin, IL-IN-WI
• 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

Price history

-14.3% since first listed

8 events — show timeline

• 2026-05-19 Price Changed $318,000 MRED as Distributed by MLS Grid
• 2026-04-27 Price Changed $329,000 MRED as Distributed by MLS Grid
• 2026-04-16 Relisted — MRED as Distributed by MLS Grid
• 2026-04-10 Pending — MRED as Distributed by MLS Grid
• 2026-03-27 Price Changed $345,100 MRED as Distributed by MLS Grid
• 2026-03-06 Listed $371,000 MRED as Distributed by MLS Grid
• 2006-11-11 Listing Removed — MRED as Distributed by MLS Grid
• 2006-09-22 Listed — MRED as Distributed by MLS Grid

Property tax history

+1.0%/yr

Latest (2024): $5,115 · -25.2% YoY. Source: county tax records.