15063 W Quincy Cir · Manhattan, IL 60442

$294,900

2 bd · 2.5 ba · 1,701 sqft · Townhouse · 22 Days on market

Built 2020 6,000 sqft lot Est $303k · at est. $178/mo HOA · 6% of rent

---

Why this score? — see what drove the C- grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +18.9/30.0
• ARV discount +8.7/15.0
• DSCR +6.0/10.0
• 1% rule +4.5/10.0
• Schools +4.3/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Great 2 Story end unit 2 story townhome located in quiet Stonegate subdivision in beautiful Manhattan. This Townhome back up to huge area of greenspace and does not have any homes directly behind it. When you walk in prepared to be impressed. Large 2 story Living room that is open and airy. Large eat in kitchen with Quartz counter tops and lots of cabinets. Stainless Steel appliances. Main level 1/2 bath. All first floor flooring is Luxury Vinyl Plank. Upstairs has huge master bedroom with large master bath and walk in closet. Second bedroom is good sized and also has a walk in closet. This home also has a second full bath upstairs. Nice quaint loft area could be sitting/computer area. Lau

Key facts

• Greenspace
• Luxury vinyl plank
• Walk in closet

Tags

• STONEGATE SUBDIVISION
• GREENSPACE
• LUXURY VINYL PLANK
• QUARTZ COUNTER TOPS
• STAINLESS STEEL APPLIANCES
• WALK IN CLOSET

Property features AI

Finance

• Other: 6 units in building; Ownership: Fee simple with HOA
• Financial info: Special service area applies
• HOA & community: Monthly association fee of $145; Association covers insurance, exterior maintenance, lawn care and snow removal; Master association fee $400 yearly; Manager off-site; Park on-site; Pets allowed (cats and dogs)

Exterior

• Parking: Attached garage with 2 garage spaces; Garage door opener; Asphalt parking; Garage owned
• Security: CO detectors
• Utilities: Public water; Public sewer; Electric service with circuit breakers
• Home design: Attached single — townhouse, 2-story; End unit; Entry level 1; Model: DUNHAM II
• Construction: Built 6–10 years ago; Vinyl siding with brick accents; Asphalt roof; Concrete perimeter foundation
• Exterior features: Patio; Landscaped lot

Interior

• Kitchen: Range; Microwave; Dishwasher; Refrigerator; Pantry closet
• Bedrooms: Master bedroom on second level (full bath attached); Second bedroom on second level (13 x 13); Additional bedrooms listed
• Flooring: Carpet in bedrooms and sitting room; Vinyl flooring in main living areas, dining room, kitchen and laundry
• Bathrooms: 2 full bathrooms; 1 half bathroom
• Heating & cooling: Natural gas forced-air heating; Central air conditioning; Humidifier
• Interior features: Walk-in closets; 6 total rooms
• Laundry & utility: Upper-level, in-unit laundry (6 x 6); Water softener (owned); CO detectors

What this means for you Summary

Snapshot

• This is a 2-bed/2.5-bath townhouse listed at $295k.

Deal economics

• At list price, monthly cash flow is $303 ($4k/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 $281k (4.8% below list).
• Recommended offer: $281k (4.8% below list) — sets the bar for 1% rule.
• Cap rate 7.5% vs local median 2.5% in Manhattan — 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.

Location & tenants

• Location reads 69/100 on livability (#396 in IL) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: amenities F, commute F, health & safety F.
• Lincoln Way Chsd 210 (suburban): math 44% / reading 49% proficiency, ranked #60 of 620 in IL (top 10%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Lincoln-Way East High School (math 46% / reading 53%, grade D, #44 of 693 statewide, top 7%, 2,749 students, 0% FRL).
• Market conditions: 113 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 67% of comp listings sitting > 30 days — soft ceiling on asking rent; 2,028 units permitted in Will County in 2024 (530 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $9k of value loss. Plan a longer hold.
• Will County population projected to shrink 4% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• It's been on market 22 days — a 2% lower offer ($290k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 6y 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.

Recommended offer $280,679 (4.8% below list)

Questions for the listing agent

1. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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.

Investment metrics

• 1% rule: 0.95% ✗
• Cap rate: 7.53%
• Cash-on-cash: 4.41%
• DSCR: 1.20
• GRM: 8.8

CMA / ARV

• ARV (on-the-fly): $302,778
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
15007 W Quincy Cir	0.12mi	2/2.5	1,558 (-8%)	1mo	$288,500	$185	79
15352 Kenmare Cir	0.21mi	2/1.5	1,642 (-4%)	1mo	$261,000	$159	79
24949 Clare Cir	0.24mi	3/1.5 (+1)	1,642 (-4%)	1mo	$268,000	$163	73
25029 Clare Cir	0.22mi	3/1.5 (+1)	1,611 (-5%)	3mo	$262,500	$163	70
25109 Colligan St	0.35mi	3/2.5 (+1)	1,629 (-4%)	2mo	$295,000	$181	69
25116 Colligan St	0.37mi	2/1.5	1,613 (-5%)	2mo	$289,000	$179	68
25047 Clare Cir	0.27mi	3/2.5 (+1)	1,556 (-8%)	1mo	$281,000	$181	67
15238 Kenmare Cir	0.15mi	3/1.5 (+1)	1,510 (-11%)	2mo	$265,000	$175	63
25340 Colligan St	0.52mi	3/2.5 (+1)	1,629 (-4%)	1mo	$311,500	$191	63
25109 Clare Cir	0.31mi	2/1.5	1,520 (-11%)	3mo	$262,000	$172	61
25463 Colligan St	0.62mi	3/2.5 (+1)	1,629 (-4%)	1mo	$290,000	$178	58
25461 Colligan St	0.62mi	3/2.5 (+1)	1,613 (-5%)	2mo	$265,000	$164	56

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -9.4%
• Equity multiple: 0.65×
• Total profit: $-28,504
• Equity at exit: $43,971

10-year hold

• IRR: -0.0%
• Equity multiple: 1.00×
• Total profit: $-84
• Equity at exit: $25,498

Cash invested: $82,572 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 43 Moderately Tenant-Leaning
• State Illinois: 43 Moderately Tenant-Leaning · D+7
• County: — inherits STATE
• City: — inherits STATE

Chicago RTLO is among the strongest tenant ordinances in the Midwest; downstate is more landlord-friendly.

Methodology + full state rankings →

ZIP-level market 60442

• Home prices YoY: -9.3%
• Active inventory: 113
• Price-to-rent: 8.8×

Monthly cashflow live

• Estimated rent: $2,807 medium
• Mortgage (P&I): −$1,546
• Tax from tax record: −$67 /mo · $801/yr
• Insurance: −$123
• HOA: −$178
• Vacancy / Maint / Mgmt: −$589
• Net cashflow: $303

Break-even live

Break-even rent $2,423

Max offer price $294,900

Occupancy floor 84%

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $73,725
• Closing costs: $8,847
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
15030 W Cyrus Dr Manhattan, IL	3.0	2.5	1760	$2,900	$1.65	43d	1	0.28mi
15749 W Crobally Way Manhattan, IL	2.0	2.5	1508	$2,900	$1.92	44d	1	0.90mi
25273 Faraday Rd Manhattan, IL	2.0	1.5	1274	$2,250	$1.77	10d	1	1.02mi

HOA detail

• Monthly dues: $178 · $2,136/yr

Listing history 18 events

1. 2026-06-18
   days on market $294,900 Active 22 DOM
2. 2026-06-17
   days on market $294,900 Active 21 DOM
3. 2026-06-16
   days on market $294,900 Active 20 DOM
4. 2026-06-15
   days on market $294,900 Active 19 DOM
5. 2026-06-13
   days on market $294,900 Active 17 DOM
6. 2026-06-13
   days on market $294,900 Active 16 DOM
7. 2026-06-10
   price $294,900 Active 13 DOM
8. 2026-06-09
   days on market $299,900 Active 13 DOM
9. 2026-06-08
   days on market $299,900 Active 12 DOM
10. 2026-06-07
    days on market $299,900 Active 11 DOM
11. 2026-06-04
    days on market $299,900 Active 8 DOM
12. 2026-06-03
    days on market $299,900 Active 7 DOM
13. 2026-06-02
    days on market $299,900 Active 6 DOM
14. 2026-06-01
    days on market $299,900 Active 5 DOM
15. 2026-05-31
    days on market $299,900 Active 4 DOM
16. 2026-05-27
    listed $299,900 Active
17. 2020-05-04
    status Pending
18. 2020-04-30
    listed New

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast IL · Partial reset (capped growth)

• Current annual tax: $801 · $67/mo
• Projected year-2 tax: $3,747 · $312/mo
• Expected delta: +$2,947/yr (+$246/mo · 368.1%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $33,681
• − Mortgage interest: −$16,519
• − Property taxes: −$801
• − Insurance: −$1,474
• − Repairs & maintenance: −$2,695
• − Management: −$2,695
• − HOA: −$2,136
• − Depreciation: −$8,579
• Taxable loss: −$1,216
• Est. tax savings @ 24.0%: +$292
• After-tax cash flow: $3,931/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Lincoln Way Chsd 210
• NCES district ID: 1723070
• Math proficiency: 44% ▼ -13.00%
• Reading proficiency: 49% ▼ -9.00%
• Median HH income: $86,879
• Composite: 43.4/100
• National rank: #3019
• State rank: #60 of 620 in IL

Livability — Manhattan

• Score: 69/100
• State rank: #396
• US rank: #8289

Category grades

Amenities F Commute F Cost of living B Crime A+ Employment A+ Housing A+ Health & safety F User ratings C+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Manhattan, IL
• City population: 13,467
• Population (ZIP): 13,467

Population outlook (Will County) Hauer SSP2

• Today (2025): 705,368 people
• By 2030: 708,154 · +0.4%
• By 2040: 702,692 · -0.4%
• By 2050: 680,249 · -3.6%
• By 2075: 611,990 · -13.2%
• By 2100: 516,215 · -26.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (82%)
• Race & ethnicity: White 82% Two or more races 11% Hispanic / Latino 10% Black 3%
• Hispanic origin (detail): Mexican 10%
• Common ancestry: Romanian 15% Iranian 3% Portuguese 1%
• Foreign-born: 4% · Canada
• Languages at home: 91% English-only · Spanish 5% Russian/Polish/Slavic 3%

Political lean MEDSL · Will

• 2024 margin: Toss-up / Even · D 50.1% · R 48.5% · Other 1.4%
• 2008→2024 swing: -11.6pp toward R · 2008: 13.2pp · 2024: 1.6pp
• All cycles: 2024: D+1.6 2020: D+8.3 2016: D+5.7 2012: D+3.7 2008: D+13.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -23.77%
• Current HPI: 232.3641
• Rent YoY: —
• Metro: —
• State GDP YoY: ▲ 1.59%
• F500 in state: 60

Industry mix (Fortune 500 HQ in IL)

Industry	F500 HQs	Revenue
▸Insurance	4	$201B
▸Consumer Goods	4	$87B
▸Industrial Machinery	3	$64B
▸Healthcare	2	$55B
▸Retail / Pharmacy	1	$148B
▸Agriculture / Food	1	$86B

Price history

3 events — show timeline

• 2026-05-27 Listed $299,900 MRED as Distributed by MLS Grid
• 2020-05-04 Pending — MRED as Distributed by MLS Grid
• 2020-04-30 Listed — MRED as Distributed by MLS Grid

Property tax history

-13.8%/yr

Latest (2018): $801 · -0.5% YoY. Source: county tax records.