17920 Settlers Pond Way Unit 3A · Orland Park, IL 60467

$308,899

2 bd · 2.0 ba · 1,600 sqft · Condo · 17 Days on market

Built 1998 $300/mo HOA · 10% of rent

---

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 +12.3/30.0
• ARV discount +7.5/15.0
• 1% rule +4.4/10.0
• Livability +4.2/5.0
• DSCR +3.6/10.0
• Schools +3.4/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Rarely Avaialable Top Floor Condo in this highly desireable Elevator Building! 2 Bedroom, 2 Bath Plus Dining Room/Den Top Floor Condo with Private Balcony and Garage Parking. MANY Updates and Upgrades! Granite Counter Tops in the Kitchen, Blk Stainless Steel Appliances (2019), NEW Furnace, A/C, and Water Heater in 2025!! Windows were all updated and replaced in within past 5 years! Highlights of this property are the Living Room with Vaulted Ceilings and Fireplace! LARGE Master Bedroom with EnSuite Bath with whirlpool tub and seperate shower! In Unit Laundry! Move right in and start enjoying the maintenance free condo lifestyle! Located walking distance to the Metra and less than 2 minutes

Key facts

• New furnace
• Private balcony
• A/c

Tags

• TOP FLOOR CONDO
• PRIVATE BALCONY
• ELEVATOR BUILDING
• GRANITE COUNTER TOPS
• NEW FURNACE
• A/C

Property features AI

Finance

• Other: Part of a 12-unit building; Living area reported as approximately 1,600 total finished square feet
• HOA & community: Monthly association fee of $300; Association fee covers insurance, lawn care, and snow removal; Pets allowed (cats and dogs) with limits — maximum pet weight 50 lbs

Exterior

• Parking: Detached garage with garage door opener (1 garage space, 1 total parking space)
• Utilities: Water from Lake Michigan; Public sewer; Electric service (standard)
• Home design: Attached single condo; Entry on level 3; Approximately 26–30 years old
• Construction: Brick construction
• Exterior features: Condo community; Lake Michigan water source; Public sewer

Interior

• Kitchen: Kitchen (main level) — 14 x 14
• Bedrooms: Master bedroom (main level) — 17 x 14; Bedroom 2 (main level) — 12 x 11; Additional bedroom(s) present
• Bathrooms: Two full bathrooms; Master bath includes whirlpool and separate shower
• Heating & cooling: Natural gas heating; Central air conditioning
• Interior features: Five total rooms; Living room with fireplace
• Laundry & utility: Laundry room (main level) — 9 x 8

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $309k.

Deal economics

• At list price, monthly cash flow is $-57 ($-684/yr) — negative.
• To cash-flow at today's rent, offer at most $299k (3.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $290k (6.1% below list).
• Recommended offer: $290k (6.1% below list) — sets the bar for 1% rule.
• Cap rate 6.1% vs local median 4.5% in Orland 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.

Location & tenants

• Location reads 85/100 on livability (#29 in IL, #529 nationally) — a professional / high-income tenant draw. Strengths: crime A+, amenities A+, commute A+.
• Cons Hsd 230 (suburban): math 35% / reading 39% proficiency, ranked #146 of 620 in IL (top 24%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Carl Sandburg High School (math 41% / reading 45%, grade F, #72 of 693 statewide, top 10%, 2,894 students, 0% FRL).
• Market conditions: 118 active listings in the ZIP; 6,272 units permitted in Cook County in 2024 (4,658 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 $9k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 17 days — a 2% lower offer ($304k) is reasonable based on typical stale-listing flexibility.

Recommended offer $290,099 (6.1% below list)

Questions for the listing agent

1. 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?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.94% ✗
• Cap rate: 6.07%
• Cash-on-cash: -0.79%
• DSCR: 0.96
• GRM: 8.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -17.5%
• Equity multiple: 0.38×
• Total profit: $-53,510
• Equity at exit: $46,058

10-year hold

• IRR: -9.5%
• Equity multiple: 0.42×
• Total profit: $-50,558
• Equity at exit: $26,708

Cash invested: $86,492 (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 60467

• Home prices YoY: -30.4%
• Active inventory: 118
• Price-to-rent: 8.9×

Monthly cashflow live

• Estimated rent: $2,901 medium
• Mortgage (P&I): −$1,620
• Tax from tax record: −$300 /mo · $3,602/yr
• Insurance: −$129
• HOA: −$300
• Vacancy / Maint / Mgmt: −$609
• Net cashflow: $-57

Break-even live

Break-even rent $2,973

Max offer price $298,829

Occupancy floor 97%

Sensitivity live

Price	-10% $118	-5% $30	+0% $-57	+5% $-144	+10% $-232
Rent	-10% $-286	-5% $-172	+0% $-57	+5% $58	+10% $172
Rate	-1.0pp $99	-0.5pp $22	base $-57	+0.5pp $-137	+1.0pp $-218

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: $77,225
• Closing costs: $9,267
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $300 · $3,600/yr
• Likely covers: waterpool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 10 events

1. 2026-06-21
   days on market $308,899 Active 17 DOM
2. 2026-06-18
   days on market $308,899 Active 14 DOM
3. 2026-06-17
   days on market $308,899 Active 13 DOM
4. 2026-06-16
   days on market $308,899 Active 12 DOM
5. 2026-06-15
   days on market $308,899 Active 11 DOM
6. 2026-06-13
   days on market $308,899 Active 9 DOM
7. 2026-06-09
   days on market $308,899 Active 5 DOM
8. 2026-06-08
   days on market $308,899 Active 4 DOM
9. 2026-06-07
   remarks 699-char remark
10. 2026-06-07
    listed $308,899 Active 3 DOM

ⓘ 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: $3,602 · $300/mo
• Projected year-2 tax: $5,307 · $442/mo
• Expected delta: +$1,705/yr (+$142/mo · 47.3%)

ⓘ 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
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $34,812
• − Mortgage interest: −$17,303
• − Property taxes: −$3,602
• − Insurance: −$1,544
• − Repairs & maintenance: −$2,785
• − Management: −$2,785
• − HOA: −$3,600
• − Depreciation: −$8,986
• Taxable loss: −$5,794
• Est. tax savings @ 24.0%: +$1,391
• After-tax cash flow: $707/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: Cons Hsd 230
• NCES district ID: 1708400
• Math proficiency: 35% ▼ -8.00%
• Reading proficiency: 39% ▼ -6.00%
• Median HH income: $73,953
• Composite: 34.29/100
• National rank: #5244
• State rank: #146 of 620 in IL

Livability — Orland Park

• Score: 85/100
• State rank: #29
• US rank: #529

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Orland Park, IL
• City population: 41,456
• Population (ZIP): 24,952

Population outlook (Cook County) Hauer SSP2

• Today (2025): 5,347,519 people
• By 2030: 5,357,703 · +0.2%
• By 2040: 5,324,924 · -0.4%
• By 2050: 5,230,762 · -2.2%
• By 2075: 4,785,735 · -10.5%
• By 2100: 4,188,836 · -21.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (83%)
• Race & ethnicity: White 83% Hispanic / Latino 6% Asian 5% Two or more races 4% Black 4%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Romanian 15% Armenian 2% Iranian 2%
• Foreign-born: 14% · Canada, South Korea, China
• Languages at home: 78% English-only · Arabic 9% Russian/Polish/Slavic 4% Other Indo-European 4%

Political lean MEDSL · Cook

• 2024 margin: Solid D (+42.0) · D 70.4% · R 28.4% · Other 1.2%
• 2008→2024 swing: -11.4pp toward R · 2008: 53.4pp · 2024: 42.0pp
• All cycles: 2024: D+42.0 2020: D+50.3 2016: D+53.0 2012: D+49.4 2008: D+53.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -82.13%
• Current HPI: 188.3676
• Rent YoY: —
• Metro: —
• 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

1 event — show timeline

• 2026-06-04 Listed $308,899 MRED as Distributed by MLS Grid