11139 Ravengate Ct

Orland Park, IL 60467

$339,000D+

2 bd · 1.5 ba · 1,406 sqft · Built 1996 · Townhouse · Active · 4 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $3,726/mo
• Mortgage (P&I): −$1,778
• Tax + insurance: −$625
• HOA: −$220
• Vac / Maint / Mgmt: −$782
• Net cashflow: $321/mo
• Annual: $3,848/yr
• Cap rate: 7.43%
• Cash-on-cash: 4.05%
• DSCR: 1.18
• 1% rule: 1.10%
• Cash to close: $94,920

Investor read

• This is a 2-bed/1.5-bath townhouse listed at $339k.
• At list price, monthly cash flow is $321 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $339k).
• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $10k of value loss. Plan a longer hold.
• Location reads 85/100 on livability (#29 in IL, #529 nationally) — a professional / high-income tenant draw. Strengths: crime A+, amenities A+, commute A+.
• Cons Hsd 230 (suburban): math 35% / reading 39% proficiency, ranked #146 of 620 in IL (top 24%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 118 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 6,272 units permitted in Cook County in 2024 (4,658 in 5+ unit buildings).
• 3 sale attempts since 17y 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.
• Current owner paid $195k; list at $339k implies a 74% gain — meaningful room to come down on a strong offer.
• Cap rate 7.4% vs local median 4.5% in Orland Park — 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 does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• 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.
• 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.