623 N La Londe Ave

Lombard, IL 60148

$235,000C+

3 bd · 1.0 ba · 1,019 sqft · Built 1955 · SingleFamily · Pending · 1 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,633/mo
• Mortgage (P&I): −$1,232
• Tax + insurance: −$439
• HOA: −$0
• Vac / Maint / Mgmt: −$553
• Net cashflow: $409/mo
• Annual: $4,908/yr
• Cap rate: 8.38%
• Cash-on-cash: 7.46%
• DSCR: 1.33
• 1% rule: 1.12%
• Cash to close: $65,800

Investor read

• This is a 3-bed/1.0-bath single-family listed at $235k.
• At list price, monthly cash flow is $409 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $235k).
• Only 1 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 $7k of value loss. Plan a longer hold.
• Location reads 72/100 on livability (#314 in IL) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, crime A-; Watch: cost of living C-, health & safety D+, amenities F.
• Dupage Hsd 88 (suburban): math 29% / reading 35% proficiency, ranked #212 of 620 in IL (top 34%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Schafer Elem School (math 17% / reading 17%, grade F, #1,141 of 2,056 statewide, top 59%, 336 students, 0% FRL); Jefferson Middle School (math 13% / reading 28%, grade F, #410 of 665 statewide, top 62%, 421 students, 0% FRL); Willowbrook High School (math 34% / reading 41%, grade F, #104 of 693 statewide, top 15%, 1,992 students, 0% FRL).
• Watch-outs: built in 1955 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: Rents flat; 138 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 1,378 units permitted in DuPage County in 2024 (594 in 5+ unit buildings).
• Current owner paid $129k; list at $235k implies a 82% gain — meaningful room to come down on a strong offer.
• Cap rate 8.4% vs local median 3.7% in Lombard — 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.
• This rent runs 31% of the median local income ($101k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• Built in 1955 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are B-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?
• 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.