6630 W 95th St Unit 3D

Oak Lawn, IL 60453

$159,500D+

2 bd · 1.0 ba · 950 sqft · Built 1961 · Condo · Active · 191 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,762/mo
• Mortgage (P&I): −$836
• Tax + insurance: −$266
• HOA: −$302
• Vac / Maint / Mgmt: −$370
• Net cashflow: $-12/mo
• Annual: $-149/yr
• Cap rate: 6.20%
• Cash-on-cash: -0.33%
• DSCR: 0.99
• 1% rule: 1.10%
• Cash to close: $44,660

Investor read

• This is a 2-bed/1.0-bath condo listed at $160k. Condition is rated good.
• At list price, monthly cash flow is $-12 ($-149/yr) — negative.
• To cash-flow at today's rent, offer at most $158k (1.1% below list).
• Meets the 1% rule at list price ($2k rent vs $160k).
• It's been on market 191 days — a 12% lower offer ($140k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $140k (12.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Location reads 80/100 on livability (#102 in IL, #1,614 nationally) — a professional / high-income tenant draw. Strengths: commute A+, housing A+, employment A-.
• Oak Lawn Chsd 229 (suburban): math 22% / reading 21% proficiency, ranked #384 of 620 in IL (top 62%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: George W Lieb Elem School (math 12% / reading 17%, grade F, #1,278 of 2,056 statewide, top 65%, 383 students, 0% FRL); Simmons Middle School (math 13% / reading 22%, grade F, #450 of 665 statewide, top 69%, 751 students, 0% FRL); Oak Lawn Comm High School (math 22% / reading 21%, grade F, #345 of 693 statewide, top 50%, 1,834 students, 0% FRL).
• Market conditions: Rents rising fast (+8.2%/yr); 263 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals lingering (median 65d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 65% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 6,272 units permitted in Cook County in 2024 (4,658 in 5+ unit buildings).
• Cap rate 6.2% vs local median 4.4% in Oak Lawn — 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 191 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Built in 1961 — 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?
• 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.
• 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?