101 Wysteria Dr

Olympia Fields, IL 60461

$339,525D

3 bd · 2.5 ba · 3,061 sqft · Built 1993 · Townhouse · Active · 99 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $4,149/mo
• Mortgage (P&I): −$1,781
• Tax + insurance: −$1,059
• HOA: −$395
• Vac / Maint / Mgmt: −$871
• Net cashflow: $43/mo
• Annual: $516/yr
• Cap rate: 6.45%
• Cash-on-cash: 0.54%
• DSCR: 1.02
• 1% rule: 1.22%
• Cash to close: $95,067

Investor read

• This is a 3-bed/2.5-bath townhouse listed at $340k.
• At list price, monthly cash flow is $43 ($516/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $340k).
• It's been on market 99 days — a 9% lower offer ($309k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $309k (9.0% 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 $10k of value loss. Plan a longer hold.
• Location reads 74/100 on livability (#253 in IL, #4,680 nationally) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, commute A; Watch: crime D-, amenities F, cost of living F.
• Bloom Twp Hsd 206 (suburban): math 8% / reading 9% proficiency, ranked #591 of 620 in IL (top 95%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Chicago Heights Middle School (math 9% / reading 24%, grade F, #482 of 665 statewide, top 73%, 940 students, 0% FRL); Bloom High School (math 7% / reading 8%, grade F, #589 of 693 statewide, top 86%, 1,737 students, 0% FRL).
• Watch-outs: property tax is 3.2% of price.
• Market conditions: 19 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals leasing fast (median 0d 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 8y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $260k; 31% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Questions for listing agent

• It's been on market 99 days. Have you received any prior offers? Is the seller open to a 9% 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?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• 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.
• Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
• 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.