22322 S Cedar Dr #68 · Channahon, IL 60410

$162,000

3 bd · 2.0 ba · 1,350 sqft · SingleFamily · 259 Days on market

Built 2026 Good condition 7,000 sqft lot $120/sqft · 47% below area Est $306k · 47% under

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Why this score? — see what drove the B+ 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 +30.0/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +9.7/10.0
• 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

Listing remarks

From the moment you step onto the welcoming front porch, this light-filled home draws you in with a fresh, modern chef's kitchen that balances timeless style. * Option to build a 12x24 garage At the center of the home, the kitchen features sleek appliances, soft white cabinetry, and elegant light-gray countertops-creating a functional and beautiful space for cooking, gathering, and enjoying daily routines. Just beyond, the spacious dining area is framed by large windows that fill the room with natural light, offering the ideal setting for family meals or quiet mornings with coffee. ..

Key facts

• Modern chefs kitchen
• Walk in pantry
• Dual sink vanity

Tags

• MODERN CHEFS KITCHEN
• WALK IN PANTRY
• PRIVATE PRIMARY SUITE
• DUAL SINK VANITY
• WALK IN SHOWER
• TWO CAR DRIVEWAY

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $162k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $765 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $162k).
• Recommended offer: $143k (12.0% below list) — sets the bar for market timing.
• Cap rate 12.0% 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; 4 comparable units currently listed for rent nearby; rentals lingering (median 151d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 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 $1k of loan paydown is wiped out by about $5k 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 $45k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 259 days — a 12% lower offer ($143k) is reasonable based on typical stale-listing flexibility.

Recommended offer $142,560 (12.0% below list)

Questions for the listing agent

1. It's been on market 259 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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.
5. 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.
6. 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: 1.47% ✓
• Cap rate: 11.96%
• Cash-on-cash: 20.25%
• DSCR: 1.90
• GRM: 5.7

CMA / ARV

• ARV (median comp): $306,121
• List price: $162,000
• Delta: -47.08%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
22524 S Deal Ave	0.63mi	3/2.0	1,400 (+4%)	12mo	$285,000	$204	54
23032 S Belle Ln	0.89mi	3/1.5	1,415 (+5%)	2mo	$310,000	$219	53
23102 W Marylou Ave	0.65mi	3/1.5	1,260 (-7%)	5mo	$310,000	$246	52
23851 W Sussex Dr	0.97mi	3/2.0	1,360 (+1%)	24mo	$265,000	$195	44
23050 S Kent Rd	0.94mi	3/2.0	1,100 (-18%)	1mo	$305,000	$277	39
22352 S Joseph Ave	0.63mi	3/1.5	1,240 (-8%)	23mo	$284,800	$230	36
22344 S Donna Ave	0.69mi	3/1.5	1,612 (+19%)	12mo	$299,900	$186	31
22318 S Deal Ave	0.56mi	4/2.5 (+1)	1,589 (+18%)	15mo	$285,000	$179	29
22335 S Deal Ave	0.60mi	3/1.5	1,152 (-15%)	21mo	$93,000	$81	29

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: 12.5%
• Equity multiple: 1.50×
• Total profit: $22,527
• Equity at exit: $24,155

10-year hold

• IRR: 21.4%
• Equity multiple: 2.82×
• Total profit: $82,525
• Equity at exit: $14,007

Cash invested: $45,360 (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: 8 active · 5 under contract
• Months of supply: 16.0 mo (6%/mo absorbed)
• Median asking: $177,500 ($116/sqft)
• Median days on market: 74 d
• This list price: 25% of active listings are priced below it
• ARV vs active asking: +95.8% 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: 5.7×

Monthly cashflow live

• Estimated rent: $2,386 medium
• Mortgage (P&I): −$850
• Tax est. 1.5%: −$202 /mo · $2,430/yr
• Insurance: −$68
• HOA: −$0
• Vacancy / Maint / Mgmt: −$501
• Net cashflow: $765

Break-even live

Break-even rent $1,417

Max offer price $162,000

Occupancy floor 63%

Sensitivity live

Price	-10% $877	-5% $821	+0% $765	+5% $709	+10% $653
Rent	-10% $577	-5% $671	+0% $765	+5% $860	+10% $954
Rate	-1.0pp $847	-0.5pp $806	base $765	+0.5pp $723	+1.0pp $681

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: $40,500
• Closing costs: $4,860
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 4 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	0.81mi
1227 Rock Run Crossings Dr Unit 107 Shorewood, IL	2.0	2.0	1193	$2,437	$2.04	113d	1	1.47mi
1227 Rock Run Crossings Dr Unit 207 Shorewood, IL	2.0	2.0	1193	$2,395	$2.01	151d	1	1.47mi
1227 Rock Run Crossings Dr Unit 107 Shorewood, IL	2.0	2.0	1193	$2,659	$2.23	165d	1	1.47mi

Property features AI

Finance

• Other: Living area of 1350 (value provided by listing)
• Financial info: List price available (information provided in listing)

Exterior

• Utilities: Electric serviceNatural gas servicePublic water and sewer likely (not explicitly detailed)
• Home design: Spec new construction (Remington Woods plan)
• Construction: New constructionRemington Woods plan
• Exterior features: Asphalt roof

Interior

• Kitchen: DishwasherMicrowaveRefrigerator
• Bedrooms: 3 bedrooms
• Bathrooms: 2 bathrooms
• Heating & cooling: Forced air heating (electric and natural gas)Central air conditioning
• Interior features: DishwasherMicrowaveRefrigerator

Listing history 50 events

1. 2026-11-08
   days on market $162,000 Active 259 DOM
2. 2026-11-07
   days on market $162,000 Active 258 DOM
3. 2026-11-06
   days on market $162,000 Active 257 DOM
4. 2026-11-05
   days on market $162,000 Active 256 DOM
5. 2026-11-04
   days on market $162,000 Active 255 DOM
6. 2026-11-02
   days on market $162,000 Active 253 DOM
7. 2026-11-01
   days on market $162,000 Active 252 DOM
8. 2026-10-31
   days on market $162,000 Active 251 DOM
9. 2026-10-30
   days on market $162,000 Active 250 DOM
10. 2026-10-29
    days on market $162,000 Active 249 DOM
11. 2026-10-28
    days on market $162,000 Active 248 DOM
12. 2026-10-27
    days on market $162,000 Active 247 DOM
13. 2026-10-26
    days on market $162,000 Active 246 DOM
14. 2026-10-25
    days on market $162,000 Active 245 DOM
15. 2026-10-24
    days on market $162,000 Active 244 DOM
16. 2026-10-23
    days on market $162,000 Active 243 DOM
17. 2026-10-22
    days on market $162,000 Active 242 DOM
18. 2026-10-21
    days on market $162,000 Active 241 DOM
19. 2026-10-20
    days on market $162,000 Active 240 DOM
20. 2026-10-19
    days on market $162,000 Active 239 DOM
21. 2026-10-18
    days on market $162,000 Active 238 DOM
22. 2026-10-17
    days on market $162,000 Active 237 DOM
23. 2026-10-16
    days on market $162,000 Active 236 DOM
24. 2026-10-15
    days on market $162,000 Active 235 DOM
25. 2026-10-14
    days on market $162,000 Active 234 DOM
26. 2026-10-13
    days on market $162,000 Active 233 DOM
27. 2026-10-12
    days on market $162,000 Active 232 DOM
28. 2026-10-11
    days on market $162,000 Active 231 DOM
29. 2026-10-10
    days on market $162,000 Active 230 DOM
30. 2026-10-09
    days on market $162,000 Active 229 DOM
31. 2026-10-08
    days on market $162,000 Active 228 DOM
32. 2026-10-07
    days on market $162,000 Active 227 DOM
33. 2026-10-06
    days on market $162,000 Active 226 DOM
34. 2026-09-11
    days on market $162,000 Active 225 DOM
35. 2026-09-05
    days on market $162,000 Active 219 DOM
36. 2026-09-04
    days on market $162,000 Active 218 DOM
37. 2026-09-02
    days on market $162,000 Active 216 DOM
38. 2026-08-31
    days on market $162,000 Active 214 DOM
39. 2026-08-29
    days on market $162,000 Active 212 DOM
40. 2026-08-28
    days on market $162,000 Active 211 DOM
41. 2026-08-27
    days on market $162,000 Active 210 DOM
42. 2026-08-25
    days on market $162,000 Active 208 DOM
43. 2026-08-24
    days on market $162,000 Active 207 DOM
44. 2026-08-23
    days on market $162,000 Active 206 DOM
45. 2026-08-22
    days on market $162,000 Active 205 DOM
46. 2026-08-21
    days on market $162,000 Active 204 DOM
47. 2026-08-20
    days on market $162,000 Active 203 DOM
48. 2026-08-19
    days on market $162,000 Active 202 DOM
49. 2026-08-18
    days on market $162,000 Active 201 DOM
50. 2026-08-17
    days on market $162,000 Active 200 DOM

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

Taxation est. · year 1

• Rental income: $28,630
• − Mortgage interest: −$9,075
• − Property taxes: −$2,430
• − Insurance: −$810
• − Repairs & maintenance: −$2,290
• − Management: −$2,290
• − Depreciation: −$4,713
• Taxable income: $7,022
• Est. tax owed @ 24.0%: −$1,685
• After-tax cash flow: $7,498/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 $6,750–$20,250 screening

This home presents as move-in ready with a good condition score and minimal repairs needed. The kitchen and exterior are in good condition, and the home has a fresh, modern feel. Consider painting the exterior and improving landscaping for a slight increase in value.

Value-add opportunities

• Both Painting the exterior siding — Fresh paint can enhance curb appeal and increase both resale and rental value. ↑
• Both Landscaping improvements — Enhanced landscaping can improve curb appeal and attract more potential buyers or renters. ↑

ⓘ 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

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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%

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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%

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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

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Industry mix (Fortune 500 HQ in IL)

Industry	F500 HQs	Revenue
▸Insurance	4	$201B
▸Consumer Goods	4	$87B
▸Industrial Machinery	3	$64B
▸Healthcare	2	$55B
▸Retail / Pharmacy	1	$148B
▸Agriculture / Food	1	$86B

Property features AI

Finance

• Other: Living area of 1350 (value provided by listing)
• Financial info: List price available (information provided in listing)

Exterior

• Utilities: Electric serviceNatural gas servicePublic water and sewer likely (not explicitly detailed)
• Home design: Spec new construction (Remington Woods plan)
• Construction: New constructionRemington Woods plan
• Exterior features: Asphalt roof

Interior

• Kitchen: DishwasherMicrowaveRefrigerator
• Bedrooms: 3 bedrooms
• Bathrooms: 2 bathrooms
• Heating & cooling: Forced air heating (electric and natural gas)Central air conditioning
• Interior features: DishwasherMicrowaveRefrigerator