16249 92nd Ave

Orland Hills, IL 60487

$250,000D

3 bd · 1.5 ba · 965 sqft · Built 1975 · SingleFamily · Pending · 80 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,361/mo
• Mortgage (P&I): −$1,311
• Tax + insurance: −$551
• HOA: −$0
• Vac / Maint / Mgmt: −$496
• Net cashflow: $4/mo
• Annual: $44/yr
• Cap rate: 6.31%
• Cash-on-cash: 0.06%
• DSCR: 1.00
• 1% rule: 0.94%
• Cash to close: $70,000

Investor read

• This is a 3-bed/1.5-bath single-family listed at $250k.
• At list price, monthly cash flow is $4 ($44/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $236k (5.6% below list).
• It's been on market 80 days — a 6% lower offer ($235k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $235k (6.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k of value loss. Plan a longer hold.
• Location reads 82/100 on livability (#73 in IL, #1,211 nationally) — a professional / high-income tenant draw. Strengths: employment A+, housing A+, crime A-; Watch: commute D.
• 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.
• Zoned schools: Carl Sandburg High School (math 41% / reading 45%, grade F, #72 of 693 statewide, top 10%, 2,894 students, 0% FRL).
• Market conditions: 52 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 20d on market — plan ~3-4 weeks tenant-placement turnaround); 6,272 units permitted in Cook County in 2024 (4,658 in 5+ unit buildings).
• 16 sale attempts since 19y 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 $148k; list at $250k implies a 69% gain — meaningful room to come down on a strong offer.

Questions for listing agent

• It's been on market 80 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
• Built in 1975 — 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.
• 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.