16567 Buckner Pond Way

Crest Hill, IL 60403

$240,000D+

2 bd · 2.0 ba · 1,295 sqft · Built 2006 · Townhouse · Active · 4 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,663/mo
• Mortgage (P&I): −$1,259
• Tax + insurance: −$260
• HOA: −$473
• Vac / Maint / Mgmt: −$559
• Net cashflow: $112/mo
• Annual: $1,347/yr
• Cap rate: 6.85%
• Cash-on-cash: 2.00%
• DSCR: 1.09
• 1% rule: 1.11%
• Cash to close: $67,200

Investor read

• This is a 2-bed/2.0-bath townhouse listed at $240k.
• At list price, monthly cash flow is $112 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $240k).
• 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 $7k of value loss. Plan a longer hold.
• Location reads 63/100 on livability (#792 in IL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A-; Watch: amenities F, commute F, health & safety F.
• Richland GSD 88A (suburban): math 25% / reading 25% proficiency, ranked #326 of 620 in IL (top 53%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Richland Elem School (math 24% / reading 24%, grade F, #850 of 2,056 statewide, top 45%, 800 students, 0% FRL); Lockport Township High Sch East (math 35% / reading 38%, grade F, #117 of 693 statewide, top 17%, 3,872 students, 0% FRL) — zoned schools average 0% FRL vs 45% district-wide (45 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 37 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals leasing fast (median 1d on market — plan ~1-2 weeks tenant-placement turnaround); 2,028 units permitted in Will County in 2024 (530 in 5+ unit buildings).
• Will County population projected to shrink 4% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• 2 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.
• Cap rate 6.9% vs local median 5.2% in Crest Hill — 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.
• 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?
• 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.