14951 Riverside Dr

South Holland, IL 60473

$185,000C

3 bd · 1.5 ba · 1,135 sqft · Built 1927 · SingleFamily · Active · 205 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,339/mo
• Mortgage (P&I): −$970
• Tax + insurance: −$198
• HOA: −$0
• Vac / Maint / Mgmt: −$491
• Net cashflow: $679/mo
• Annual: $8,152/yr
• Cap rate: 10.70%
• Cash-on-cash: 15.74%
• DSCR: 1.70
• 1% rule: 1.26%
• Cash to close: $51,800

Investor read

• This is a 3-bed/1.5-bath single-family listed at $185k.
• At list price, monthly cash flow is $679 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $185k).
• It's been on market 205 days — a 12% lower offer ($163k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $163k (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 $6k of value loss. Plan a longer hold.
• Location reads 77/100 on livability (#167 in IL, #3,071 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, housing A+, cost of living A; Watch: crime C-, amenities C-, schools D+.
• Thornton Twp Hsd 205 (suburban): math 7% / reading 8% proficiency, ranked #594 of 620 in IL (top 96%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Watch-outs: built in 1927 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 135 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 6,272 units permitted in Cook County in 2024 (4,658 in 5+ unit buildings).
• 3 sale attempts since 10y ago; this cycle's ask has dropped $15k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $67k; list at $185k implies a 176% gain — meaningful room to come down on a strong offer.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $52k cash investment doubles in ~8 years — after that, you're playing with house money.
• Cap rate 10.7% vs local median 8.4% in South Holland — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

Questions for listing agent

• It's been on market 205 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Built in 1927 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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.
• Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• 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.