9617 E Shore Dr

Oak Lawn, IL 60453

$315,000D-

4 bd · 2.5 ba · 1,487 sqft · Built 1950 · SingleFamily · Pending · 38 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,413/mo
• Mortgage (P&I): −$1,652
• Tax + insurance: −$930
• HOA: −$0
• Vac / Maint / Mgmt: −$507
• Net cashflow: $-676/mo
• Annual: $-8,112/yr
• Cap rate: 4.91%
• Cash-on-cash: -4.93%
• DSCR: 0.78
• 1% rule: 0.77%
• Cash to close: $88,200

Investor read

• This is a 4-bed/2.5-bath single-family listed at $315k.
• At list price, monthly cash flow is $-676 ($-8k/yr) — negative.
• To cash-flow at today's rent, offer at most $196k (37.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $241k (23.4% below list).
• It's been on market 38 days — a 3% lower offer ($306k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $196k (37.9% below list) — sets the bar for cash-flow.
• 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.
• 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: Oak Lawn Comm High School (math 22% / reading 21%, grade F, #345 of 693 statewide, top 50%, 1,834 students, 0% FRL).
• Watch-outs: flood insurance adds $314/mo; built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: Rents rising fast (+8.2%/yr); 188 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals at typical pace (median 17d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 6,272 units permitted in Cook County in 2024 (4,658 in 5+ unit buildings).
• 4 sale attempts since 3y ago 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.
• Climate carrying-cost: in FEMA flood zone A (mandatory federal flood insurance) — expect insurance premiums to compound above CPI over the hold.
• This rent runs 35% of the median local income ($84k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

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 38 days. Have you received any prior offers? Is the seller open to a 38% concession, seller financing, or rate buy-down credit?
• Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
• 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.