Is 22343 Cedar Dr #121 in Channahon, IL a good investment?

CashFlowRE grades it C with a 13.6% cap rate and $815/mo modeled cash flow at a $133,500 list price. See the full underwriting and recommended offer on the page.

What is the cap rate for 22343 Cedar Dr #121?

The modeled cap rate is 13.6% — annual NOI divided by price, using CashFlowRE's rent and expense estimates.

What would this property rent for?

Estimated market rent is $2,200/month, from CashFlowRE's rent model.

C Composite 59.71

Why this score? — see what drove the C 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 +22.5/30.0
1% rule +7.5/10.0
DSCR +7.5/10.0
ARV discount +7.5/15.0
Condition / age +4.0/5.0
Livability +3.9/5.0
Schools +3.1/10.0
Rent growth +2.5/5.0
Appreciation +1.2/10.0

$133,500

22343 Cedar Dr #121 · Channahon, IL 60410

3 bd · 2.0 ba · 1,286 sqft · SingleFamily · 74 Days on market

55+ age-restricted Built 2026 Good condition 7,000 sqft lot $104/sqft · 56% below area

🖨 Deal sheet (PDF) 📄 Offer letter ✓ Due diligence

Listing remarks

One of the Final Brand-New Homes in Remington Woods Ready for less upkeep without giving up space, comfort, or room for guests? This brand-new three-bedroom, two-bathroom home offers 1,216 square feet of easy single-level living in Remington Woods, Channahon's peaceful 55+ subdivision. The bright, open layout creates a comfortable place to relax, entertain, and enjoy everyday life. The farmhouse-inspired kitchen features Timberwolf hardwood cabinetry, a deep farmhouse sink, modern finishes, and a complete appliance package. Three bedrooms provide the flexibility many downsizing buyers still want.

Key facts

Deep farmhouse sink
Open-concept layout
7,000 sq ft lot

What this means for you Summary

Snapshot

This is a 3-bed/2.0-bath single-family listed at $134k. Condition is rated good.

Deal economics

At list price, monthly cash flow is $815 ($10k/yr) — positive.
The deal already cash-flows at list — no discount required.
Meets the 1% rule at list price ($2k rent vs $134k).
Recommended offer: $125k (6.0% below list) — sets the bar for market timing.
Cap rate 13.6% vs local median 3.8% in Channahon — 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 78/100 on livability (#143 in IL, #2,614 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: amenities F, commute F.
Minooka Chsd 111 (suburban): math 28% / reading 36% proficiency, ranked #187 of 620 in IL (top 30%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
Zoned schools: Troy Heritage Trail School (math 17% / reading 27%, grade F, #940 of 2,056 statewide, top 49%, 422 students, 0% FRL); Troy Middle School (math 36% / reading 42%, grade F, #151 of 665 statewide, top 23%, 912 students, 0% FRL); Minooka Community High School (math 28% / reading 36%, grade F, #157 of 693 statewide, top 25%, 2,930 students, 0% FRL).
Market conditions: 173 active listings in the ZIP; 1 comparable units currently listed for rent nearby; high-income renter base; 2,028 units permitted in Will County in 2024 (530 in 5+ unit buildings).

Forward outlook

Local home prices are declining (-3.0%/yr); year-one equity from $923 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
Will County population projected to shrink 4% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
At projected returns (-3.0% appreciation + 3.0% rent growth), your $37k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

It's been on market 74 days — a 6% lower offer ($125k) is reasonable based on typical stale-listing flexibility.

Recommended offer $125,490 (6.0% below list)

Questions for the listing agent

It's been on market 74 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
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.
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.

Investment metrics

1% rule: 1.65% ✓
Cap rate: 13.62%
Cash-on-cash: 26.18%
DSCR: 2.16
GRM: 5.1

CMA / ARV

ARV (median comp): $305,131
List price: $133,500
Delta: -56.25%
Verdict: UNDERPRICED
Comps: 20 within 1.0 mi

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
23102 W Marylou Ave	0.70mi	3/1.5	1,260 (-2%)	5mo	$310,000	$246	58
22524 S Deal Ave	0.64mi	3/2.0	1,400 (+9%)	12mo	$285,000	$204	45
23032 S Belle Ln	0.84mi	3/1.5	1,415 (+10%)	2mo	$310,000	$219	44
22352 S Joseph Ave	0.67mi	3/1.5	1,240 (-4%)	23mo	$284,800	$230	42
23050 S Kent Rd	0.89mi	3/2.0	1,100 (-14%)	1mo	$305,000	$277	40
23851 W Sussex Dr	0.91mi	3/2.0	1,360 (+6%)	24mo	$265,000	$195	36
22335 S Deal Ave	0.64mi	3/1.5	1,152 (-10%)	21mo	$93,000	$81	34

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold

IRR: 19.9%
Equity multiple: 1.81×
Total profit: $30,334
Equity at exit: $19,905

10-year hold

IRR: 28.2%
Equity multiple: 3.50×
Total profit: $93,423
Equity at exit: $11,543

Cash invested: $37,380 (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 →

Buyer's market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

For sale now: 7 active · 5 under contract
Months of supply: 14.0 mo (7%/mo absorbed)
Median asking: $172,500 ($120/sqft)
Median days on market: 115 d
This list price: 14% of active listings are priced below it
ARV vs active asking: +97.7% above current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 60410

Home prices YoY: -3.2%
Active inventory: 173
Price-to-rent: 5.1×

Monthly cashflow live

Estimated rent: $2,200 medium interval (Pro) →
Mortgage (P&I): −$700
Tax est. 1.5%: −$167 /mo · $2,002/yr
Insurance: −$56
HOA: −$0
Lot rent: −$0
Vacancy / Maint / Mgmt: −$462
Net cashflow: $815

Break-even live

Break-even rent $1,168

Max offer price $133,500

Occupancy floor 58%

Sensitivity live

Price	-10% $908	-5% $862	+0% $815	+5% $769	+10% $723
Rent	-10% $642	-5% $729	+0% $815	+5% $902	+10% $989
Rate	-1.0pp $883	-0.5pp $849	base $815	+0.5pp $781	+1.0pp $746

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: $33,375
Closing costs: $4,005
Club membership (one-time): —
Reserves months: —
Total cash needed: —

Loan-product check · same deal, 3 products live

Conventional

25% down · 7.5% · 30yr

Cash invested: —
Monthly P&I: —
Monthly cashflow: —
DSCR: —
Eligible?: —

Personal DTI + credit; lowest rate.

DSCR

20% down · 8.5% · 30yr

Cash invested: —
Monthly P&I: —
Monthly cashflow: —
DSCR: —
Eligible?: —

No personal income docs; deal must DSCR.

Hard money

10% down · 12.0% · 12mo

Cash invested: —
Monthly P&I: —
Monthly cashflow: —
DSCR: —
Eligible?: —

Short-term bridge; refi at stabilization.

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
22451 S Carrie Ave Channahon, IL	3.0	1.0	1176	$2,200	$1.87	148d	1	0.84mi

Property features AI

Finance

Other: Located at 22343 Cedar Dr #121, Channahon, IL 60410Active listing (modified Aug 27, 2026)
Financial info: List price: $135,000

Exterior

Parking: 1 parking space
Utilities: ElectricityNatural gasCentral air
Home design: Spec home from the Remington Woods plan
Exterior features: Asphalt and shake roof

Interior

Kitchen: DishwasherMicrowaveGarbage disposalRefrigerator
Bedrooms: 3 bedrooms
Bathrooms: 2 full bathrooms
Heating & cooling: Forced air heating (electric and natural gas)Central air conditioningCeiling fan(s)
Interior features: DishwasherMicrowaveDisposalRefrigerator

Listing history 50 events

2026-11-08

days on market $133,500 Active 74 DOM
2026-11-07

days on market $133,500 Active 73 DOM
2026-11-06

days on market $133,500 Active 72 DOM
2026-11-05

days on market $133,500 Active 71 DOM
2026-11-04

days on market $133,500 Active 70 DOM
2026-11-02

days on market $133,500 Active 68 DOM
2026-11-01

days on market $133,500 Active 67 DOM
2026-10-31

days on market $133,500 Active 66 DOM
2026-10-30

days on market $133,500 Active 65 DOM
2026-10-29

days on market $133,500 Active 64 DOM
2026-10-28

days on market $133,500 Active 63 DOM
2026-10-27

days on market $133,500 Active 62 DOM
2026-10-26

days on market $133,500 Active 61 DOM
2026-10-25

days on market $133,500 Active 60 DOM
2026-10-24

days on market $133,500 Active 59 DOM
2026-10-23

days on market $133,500 Active 58 DOM
2026-10-22

days on market $133,500 Active 57 DOM
2026-10-21

days on market $133,500 Active 56 DOM
2026-10-20

days on market $133,500 Active 55 DOM
2026-10-19

days on market $133,500 Active 54 DOM
2026-10-18

days on market $133,500 Active 53 DOM
2026-10-17

days on market $133,500 Active 52 DOM
2026-10-16

days on market $133,500 Active 51 DOM
2026-10-15

days on market $133,500 Active 50 DOM
2026-10-14

days on market $133,500 Active 49 DOM
2026-10-13

days on market $133,500 Active 48 DOM
2026-10-12

days on market $133,500 Active 47 DOM
2026-10-11

days on market $133,500 Active 46 DOM
2026-10-10

days on market $133,500 Active 45 DOM
2026-10-09

days on market $133,500 Active 44 DOM
2026-10-08

days on market $133,500 Active 43 DOM
2026-10-07

days on market $133,500 Active 42 DOM
2026-10-06

days on market $133,500 Active 41 DOM
2026-10-05

days on market $133,500 Active 40 DOM
2026-10-04

days on market $133,500 Active 39 DOM
2026-10-03

days on market $133,500 Active 38 DOM
2026-10-02

days on market $133,500 Active 37 DOM
2026-10-01

days on market $133,500 Active 36 DOM
2026-09-30

days on market $133,500 Active 35 DOM
2026-09-29

days on market $133,500 Active 34 DOM
2026-09-28

days on market $133,500 Active 33 DOM
2026-09-27

days on market $133,500 Active 32 DOM
2026-09-26

days on market $133,500 Active 31 DOM
2026-09-25

days on market $133,500 Active 30 DOM
2026-09-24

days on market $133,500 Active 29 DOM
2026-09-23

days on market $133,500 Active 28 DOM
2026-09-22

days on market $133,500 Active 27 DOM
2026-09-21

days on market $133,500 Active 26 DOM
2026-09-20

days on market $133,500 Active 25 DOM
2026-09-19

days on market $133,500 Active 24 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Nearby sold comps map

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Walkable amenities ~0.75 mi

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Taxation est. · year 1

Rental income: $26,400
− Mortgage interest: −$7,478
− Property taxes: −$2,002
− Insurance: −$668
− Repairs & maintenance: −$2,112
− Management: −$2,112
− Depreciation: −$3,884
Taxable income: $8,144

Your marginal tax rate % combined federal + state — saved on this device

Est. tax owed @ 24.0%: −$1,955
After-tax cash flow: $7,830/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.

Condition & rehab AI · 13 photos

Good 80/100 Cosmetic rehab Est. rehab $6,430–$19,290 screening

This brand-new Champion Home at Remington Woods is move-in ready with modern updates and a fresh paint job, ready for immediate occupancy.

Value-add opportunities

Both landscaping — improves curb appeal and adds value ↑
Both painting — fresh paint enhances curb appeal and interior aesthetics ↑

ⓘ Rehab cost is a screening estimate — Cosmetic scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

F Composite school gradezoned avg 31/100

Zoned Schools

Elementary Troy Heritage Trail School F IL #940/2,056 Nat'l #32,000/41,679 Middle Troy Middle School F IL #151/665 Nat'l #6,362/14,009 High Minooka Community High School F IL #157/693 Nat'l #10,416/17,239

Schools (NCES district)

District: Minooka Chsd 111
NCES district ID: 1726340
Math proficiency: 28% ▼ -8.00%
Reading proficiency: 36% ▼ -7.00%
Median HH income: $81,260
Composite: 30.82/100
National rank: #6138
State rank: #187 of 620 in IL

B Composite livability gradescore 78/100

Livability — Channahon

Score: 78/100
State rank: #143
US rank: #2614

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

Census place: Channahon, IL
County: Will · 705,368 people
City population: 14,027
Metro: Chicago-Naperville-Elgin, IL-IN
Population (ZIP): 14,027
Household income: $120,278
Rent vs Own: 9.9% rent · 90.1% own

Population outlook (Will County) Hauer SSP2

Today (2025): 705,368 people
By 2030: 708,154 · +0.4%
By 2040: 702,692 · -0.4%
By 2050: 680,249 · -3.6%
By 2075: 611,990 · -13.2%
By 2100: 516,215 · -26.8%

Race, ethnicity, and origin ACS 2023

Neighborhood character: Predominantly White (82%)
Race & ethnicity: White 82% Hispanic / Latino 14% Two or more races 5%
Hispanic origin (detail): Mexican 7% Puerto Rican 4% Cuban 2%
Languages at home: 94% English-only · Spanish 5% Other Indo-European 1%

Political lean MEDSL · Will

2024 margin: Toss-up / Even · D 50.1% · R 48.5% · Other 1.4%
2008→2024 swing: -11.6pp toward R · 2008: 13.2pp · 2024: 1.6pp
All cycles: 2024: D+1.6 2020: D+8.3 2016: D+5.7 2012: D+3.7 2008: D+13.2

Not yet ingested

Civics: —

Market trends

HPI YoY: ▼ -7.58%
Current HPI: 227.2488
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
#36 State Farm Insurance Bloomington $123.0B #66 Allstate Northbrook $64.1B #350 Old Republic International Chicago $9.2B #486 Kemper Chicago $5.2B
Consumer Goods	4	$87B
#117 Mondelez International Chicago $36.4B #138 Kraft Heinz Chicago $27.4B #237 Molson Coors Beverage Chicago $11.7B #219 Conagra Brands Chicago $11.6B
Industrial Machinery	3	$64B
#89 Deere & Company Moline $51.7B #360 Dover Downers Grove $8.5B #377 IDEX Lake Forest $3.3B
Healthcare	2	$55B
#107 Abbott Laboratories Abbott Park $40.1B #204 Baxter International Deerfield $15.2B
Retail / Pharmacy	1	$148B
#26 Walgreens Boots Alliance Deerfield $147.7B
Agriculture / Food	1	$86B
#50 Archer Daniels Midland Chicago $85.5B

Cash-flow waterfall

monthly

Sold comps — $/sqft

last 12 mo · ≤1 mi

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