1145 Court G

Hanover Park, IL 60133

$290,000D-

4 bd · 2.5 ba · 1,680 sqft · Built 1972 · Townhouse · Active · 17 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,887/mo
• Mortgage (P&I): −$1,521
• Tax + insurance: −$568
• HOA: −$268
• Vac / Maint / Mgmt: −$606
• Net cashflow: $-76/mo
• Annual: $-910/yr
• Cap rate: 5.98%
• Cash-on-cash: -1.12%
• DSCR: 0.95
• 1% rule: 1.00%
• Cash to close: $81,200

Investor read

• This is a 4-bed/2.5-bath townhouse listed at $290k.
• At list price, monthly cash flow is $-76 ($-910/yr) — negative.
• To cash-flow at today's rent, offer at most $277k (4.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $289k (0.4% below list).
• It's been on market 17 days — a 2% lower offer ($286k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $277k (4.6% below list) — sets the bar for cash-flow.
• 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 78/100 on livability (#150 in IL, #2,740 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: health & safety D+, amenities F.
• Lake Park Chsd 108 (suburban): math 37% / reading 43% proficiency, ranked #128 of 620 in IL (top 21%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Greenbrook Elem School (math 12% / reading 13%, grade F, #1,368 of 2,056 statewide, top 67%, 428 students, 0% FRL); Spring Wood Middle School (math 12% / reading 20%, grade F, #488 of 665 statewide, top 74%, 450 students, 0% FRL); Lake Park High School (math 37% / reading 43%, grade F, #85 of 693 statewide, top 12%, 2,560 students, 0% FRL).
• Zoned-school proficiency averages 23% at this address vs 40% district-wide (-17 pts) — the specific schools serving this property underperform the Lake Park Chsd 108 average; the district grade overstates school quality for this exact location.
• Market conditions: 59 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals leasing fast (median 5d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 1,378 units permitted in DuPage County in 2024 (594 in 5+ unit buildings).
• Current owner paid $175k; list at $290k implies a 66% gain — meaningful room to come down on a strong offer.
• Cap rate 6.0% vs local median 4.5% in Hanover Park — 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.
• This rent runs 38% of the median local income ($92k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

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?
• Built in 1972 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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.