1420 Stonebridge Cir Unit 5N

Wheaton, IL 60189

$249,853D

2 bd · 1.0 ba · 994 sqft · Built 1982 · Condo · Active · 10 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,273/mo
• Mortgage (P&I): −$1,310
• Tax + insurance: −$324
• HOA: −$355
• Vac / Maint / Mgmt: −$477
• Net cashflow: $-194/mo
• Annual: $-2,333/yr
• Cap rate: 5.36%
• Cash-on-cash: -3.33%
• DSCR: 0.85
• 1% rule: 0.91%
• Cash to close: $69,959

Investor read

• This is a 2-bed/1.0-bath condo listed at $250k.
• At list price, monthly cash flow is $-194 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $216k (13.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $227k (9.0% below list).
• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $216k (13.7% 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 $7k of value loss. Plan a longer hold.
• Location reads 86/100 on livability (#17 in IL, #374 nationally) — a professional / high-income tenant draw. Strengths: crime A+, commute A+, employment A+; Watch: amenities D+, health & safety D+, cost of living F.
• CUSD 200 (suburban): math 43% / reading 44% proficiency, ranked #78 of 620 in IL (top 13%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Madison Elem School (math 47% / reading 42%, grade F, #267 of 2,056 statewide, top 15%, 359 students, 0% FRL); Edison Middle School (math 33% / reading 42%, grade F, #165 of 665 statewide, top 25%, 674 students, 0% FRL); Wheaton Warrenville South H S (math 41% / reading 48%, grade F, #62 of 693 statewide, top 10%, 1,845 students, 0% FRL) — zoned schools average 0% FRL vs 23% district-wide (23 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: Rents rising (+3.4%/yr); 51 active listings in the ZIP; high-income renter base; 1,378 units permitted in DuPage County in 2024 (594 in 5+ unit buildings).
• Current owner paid $77k; list at $250k implies a 223% gain — meaningful room to come down on a strong offer.
• Cap rate 5.4% vs local median 3.7% in Wheaton — 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?
• 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.
• Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
• 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.