6801 LaGrange Rd

Hodgkins, IL 60525

$77,500B

3 bd · 2.0 ba · 1,350 sqft · Built — · Manufactured · Active · 14 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,440/mo
• Mortgage (P&I): −$406
• Tax + insurance: −$196
• HOA: −$0
• Vac / Maint / Mgmt: −$512
• Net cashflow: $1,326/mo
• Annual: $15,910/yr
• Cap rate: 27.85%
• Cash-on-cash: 77.00%
• DSCR: 4.43
• 1% rule: 3.15%
• Cash to close: $21,700

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $78k. Condition is rated good.
• At list price, monthly cash flow is $1k ($16k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $78k).
• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.
• Local home prices are declining (-3.0%/yr); year-one equity from $536 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Location reads 66/100 on livability (#573 in IL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: employment C-, crime D-, amenities F.
• Lyons Twp Hsd 204 (suburban): math 49% / reading 53% proficiency, ranked #43 of 620 in IL (top 7%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Hodgkins Elem School (math 24% / reading 34%, grade F, #658 of 2,056 statewide, top 35%, 145 students, 0% FRL); Wm F Gurrie Middle School (math 35% / reading 47%, grade F, #131 of 665 statewide, top 20%, 288 students, 0% FRL); Lyons Twp High Sch (math 49% / reading 53%, grade D+, #41 of 693 statewide, top 6%, 3,842 students, 0% FRL).
• Watch-outs: flood insurance adds $66/mo.
• Market conditions: Rents rising fast (+5.8%/yr); 85 active listings in the ZIP; 2 comparable units currently listed for rent nearby; high-income renter base; 6,272 units permitted in Cook County in 2024 (4,658 in 5+ unit buildings).
• 2 sale attempts 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 $35k; list at $78k implies a 121% gain — meaningful room to come down on a strong offer.
• At projected returns (-3.0% appreciation + 5.8% rent growth), your $22k cash investment doubles in ~2 years — after that, you're playing with house money.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
• 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?
• 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.