1308 Coldspring Rd

Carol Stream, IL 60188

$249,999D

2 bd · 1.0 ba · 1,000 sqft · Built 1989 · Townhouse · Active · 16 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,350/mo
• Mortgage (P&I): −$1,311
• Tax + insurance: −$417
• HOA: −$203
• Vac / Maint / Mgmt: −$494
• Net cashflow: $-74/mo
• Annual: $-890/yr
• Cap rate: 5.94%
• Cash-on-cash: -1.27%
• DSCR: 0.94
• 1% rule: 0.94%
• Cash to close: $70,000

Investor read

• This is a 2-bed/1.0-bath townhouse listed at $250k. Condition is rated good.
• At list price, monthly cash flow is $-74 ($-890/yr) — negative.
• To cash-flow at today's rent, offer at most $239k (4.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $235k (6.0% below list).
• It's been on market 16 days — a 2% lower offer ($246k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $235k (6.0% 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 $8k of value loss. Plan a longer hold.
• Location reads 80/100 on livability (#112 in IL, #1,808 nationally) — a professional / high-income tenant draw. Strengths: crime A+, commute A+, employment A+; Watch: amenities F, health & safety F.
• Glenbard Twp Hsd 87 (suburban): math 38% / reading 40% proficiency, ranked #126 of 620 in IL (top 20%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Glenbard North High School (math 31% / reading 33%, grade F, #157 of 693 statewide, top 25%, 2,162 students, 0% FRL).
• Market conditions: Rents rising (+3.4%/yr); 60 active listings in the ZIP; 13 comparable units currently listed for rent nearby; rentals at typical pace (median 19d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 1,378 units permitted in DuPage County in 2024 (594 in 5+ unit buildings).
• 3 sale attempts 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.
• Cap rate 5.9% vs local median 3.6% in Carol Stream — 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 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?
• 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.
• 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.