323 N Princeton Ave #8

Villa Park, IL 60181

$144,900D

2 bd · 1.0 ba · 660 sqft · Built 1962 · Condo · Active · 44 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,723/mo
• Mortgage (P&I): −$760
• Tax + insurance: −$283
• HOA: −$375
• Vac / Maint / Mgmt: −$362
• Net cashflow: $-56/mo
• Annual: $-672/yr
• Cap rate: 5.83%
• Cash-on-cash: -1.66%
• DSCR: 0.93
• 1% rule: 1.19%
• Cash to close: $40,572

Investor read

• This is a 2-bed/1.0-bath condo listed at $145k.
• At list price, monthly cash flow is $-56 ($-672/yr) — negative.
• To cash-flow at today's rent, offer at most $135k (6.8% below list).
• Meets the 1% rule at list price ($2k rent vs $145k).
• It's been on market 44 days — a 3% lower offer ($141k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $135k (6.8% below list) — sets the bar for cash-flow.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Location reads 75/100 on livability (#221 in IL, #4,121 nationally) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, crime B+; Watch: schools C-, health & safety C-, amenities F.
• Dupage Hsd 88 (suburban): math 29% / reading 35% proficiency, ranked #212 of 620 in IL (top 34%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Watch-outs: HOA is 22% of rent.
• Market conditions: Rents rising fast (+4.0%/yr); 41 active listings in the ZIP; 13 comparable units currently listed for rent nearby; rentals leasing fast (median 11d 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 $82k; list at $145k implies a 76% gain — meaningful room to come down on a strong offer.
• Cap rate 5.8% vs local median 4.2% in Villa 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.

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?
• It's been on market 44 days. Have you received any prior offers? Is the seller open to a 7% concession, seller financing, or rate buy-down credit?
• Built in 1962 — 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?
• 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?
• 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.