440 Engle St

Dolton, IL 60419

$189,900D-

2 bd · 1.0 ba · 1,209 sqft · Built 1947 · SingleFamily · Pending · 14 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,949/mo
• Mortgage (P&I): −$996
• Tax + insurance: −$600
• HOA: −$0
• Vac / Maint / Mgmt: −$409
• Net cashflow: $-56/mo
• Annual: $-669/yr
• Cap rate: 5.94%
• Cash-on-cash: -1.26%
• DSCR: 0.94
• 1% rule: 1.03%
• Cash to close: $53,172

Investor read

• This is a 2-bed/1.0-bath single-family listed at $190k.
• At list price, monthly cash flow is $-56 ($-669/yr) — negative.
• To cash-flow at today's rent, offer at most $180k (5.2% below list).
• Meets the 1% rule at list price ($2k rent vs $190k).
• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $180k (5.2% below list) — sets the bar for cash-flow.
• 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 74/100 on livability (#263 in IL, #4,883 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: employment C-, health & safety C-, crime 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.
• Zoned schools: Franklin Elementary School (235 students, 0% FRL); Lincoln Junior High School (150 students, 0% FRL); Thornridge High School (math 8% / reading 8%, grade F, #589 of 693 statewide, top 86%, 1,057 students, 0% FRL).
• Watch-outs: property tax is 3.3% of price; built in 1947 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: Rents rising fast (+9.7%/yr); 129 active listings in the ZIP; 19 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 6,272 units permitted in Cook County in 2024 (4,658 in 5+ unit buildings).
• 4 sale attempts since 2y 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 $83k; list at $190k implies a 129% gain — meaningful room to come down on a strong offer.
• Cap rate 5.9% vs local median 9.3% in Dolton — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.
• This rent runs 40% of the median local income ($58k/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?
• Built in 1947 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
• 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.