601 Ogden Rd · New Lenox, IL 60451

$290,000

3 bd · 1.0 ba · 1,600 sqft · Other · 29 Days on market

Built 1978 9,583 sqft lot

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Why this score? — see what drove the D+ 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 +17.6/30.0
• ARV discount +7.5/15.0
• 1% rule +5.6/10.0
• DSCR +5.5/10.0
• Schools +4.3/10.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This 3 bedroom well maintained home with attached garage on a beautiful corner lot has been recently remodeled in 2017. IT'S A MUST SEE! New concrete driveway and walk ways. New flooring and cabinetry. Kitchen remodeled with granite countertops, backsplash and stainless steel appliances. Main level bathroom renovated. Finished basement and garage with Epoxy flooring. New air conditioning, washer and dryer, water heater, Sump pump, deck and fenced yard. All new windows. Landscaping completed in 2019. Lawn has been professionally maintained since 2017. This beautiful home is move in ready conveniently located within walking Distance to commons, near I-80, I-355, walking trail and Metra train station in the heart of New Lenox. Enjoy the perks of incorporated New Lenox with low taxes. "

Key facts

• 9,583 sq ft lot
• Garage
• Built 1978

Property features AI

Finance

• Other: Living area source: landlord/tenant/seller provided; Not rebuilt or rehabilitated; Built after 1978 (not built before 1978)
• HOA & community: No master association fee required; Community features include park, sidewalks, street lights, and paved streets

Exterior

• Parking: Attached garage with garage door opener (1 garage space, 1 total parking space)
• Utilities: Water from Lake Michigan; Public sewer; Electric with circuit breakers
• Home design: Detached single-family raised ranch; Fee simple ownership; Age approximately 41–50 years
• Construction: Vinyl siding exterior
• Exterior features: Deck; Corner lot; School bus service available

Interior

• Kitchen: Range; Microwave; Refrigerator
• Bedrooms: Master bedroom on the main level (14 x 10); Bedroom on the main level (10 x 15); Bedroom on the main level (9 x 12)
• Flooring: Laminate flooring throughout main areas and bedrooms; Wood laminate in kitchen and living areas; Other flooring in basement family room and basement laundry
• Bathrooms: One full bathroom
• Heating & cooling: Natural gas forced air heating; Central air conditioning
• Interior features: First-floor bedroom; First-floor full bathroom; Partially finished full basement; Kitchen/Dining combo; 6 total rooms
• Laundry & utility: Laundry in basement with gas dryer hookup and utility sink; Washer; Dryer

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath other listed at $290k.

Deal economics

• At list price, monthly cash flow is $228 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $290k).
• Recommended offer: $286k (1.5% below list) — sets the bar for market timing.
• Cap rate 7.2% vs local median 1.7% in New Lenox — 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 79/100 on livability (#127 in IL, #2,348 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: cost of living C-, amenities D, commute 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: Spencer Trail (387 students, 0% FRL); Alex M Martino Jr High School (math 42% / reading 45%, grade D, #101 of 665 statewide, top 16%, 574 students, 0% FRL); Lincoln-Way Central High School (math 45% / reading 49%, grade D-, #53 of 693 statewide, top 8%, 1,962 students, 0% FRL).
• Market conditions: 188 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 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 29 days — a 2% lower offer ($286k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 10y 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 $285,650 (1.5% below list)

Questions for the listing agent

1. Built in 1978 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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?
5. 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.
6. 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.
7. 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: 1.06% ✓
• Cap rate: 7.24%
• Cash-on-cash: 3.37%
• DSCR: 1.15
• GRM: 7.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -10.9%
• Equity multiple: 0.60×
• Total profit: $-32,287
• Equity at exit: $43,240

10-year hold

• IRR: -1.6%
• Equity multiple: 0.89×
• Total profit: $-8,736
• Equity at exit: $25,074

Cash invested: $81,200 (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 60451

• Active inventory: 188
• Price-to-rent: 7.9×

Monthly cashflow live

• Estimated rent: $3,061 medium
• Mortgage (P&I): −$1,521
• Tax from tax record: −$548 /mo · $6,576/yr
• Insurance: −$121
• HOA: −$0
• Vacancy / Maint / Mgmt: −$643
• Net cashflow: $228

Break-even live

Break-even rent $2,772

Max offer price $290,000

Occupancy floor 88%

Sensitivity live

Price	-10% $393	-5% $310	+0% $228	+5% $146	+10% $64
Rent	-10% $-13	-5% $107	+0% $228	+5% $349	+10% $470
Rate	-1.0pp $374	-0.5pp $302	base $228	+0.5pp $153	+1.0pp $77

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: $72,500
• Closing costs: $8,700
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
208 N Prairie Rd New Lenox, IL	2.0	1.0–2.0	903	$2,807	$3.11	0d	11	0.72mi
1013 Stonegate Rd New Lenox, IL	3.0	3.0	1600	$3,250	$2.03	16d	1	0.95mi

Listing history 26 events

1. 2026-06-13
   statusdays on market $290,000 Pending 29 DOM
2. 2026-06-09
   days on market $290,000 Contingent - Continue to Show 26 DOM
3. 2026-06-08
   days on market $290,000 Contingent - Continue to Show 25 DOM
4. 2026-06-07
   days on market $290,000 Contingent - Continue to Show 24 DOM
5. 2026-06-04
   days on market $290,000 Contingent - Continue to Show 21 DOM
6. 2026-06-03
   days on market $290,000 Contingent - Continue to Show 20 DOM
7. 2026-06-02
   days on market $290,000 Contingent - Continue to Show 19 DOM
8. 2026-06-01
   days on market $290,000 Contingent - Continue to Show 18 DOM
9. 2026-05-31
   days on market $290,000 Contingent - Continue to Show 17 DOM
10. 2026-05-18
    historical Contingent - Continue to Show
11. 2026-05-14
    listed $290,000 Active
12. 2021-01-19
    soldstatus $254,000
13. 2020-11-30
    soldstatus $254,000 Closed Sale 802-char remark

    Show marketing remark (802 chars)

    This 3 bedroom well maintained home with attached garage on a beautiful corner lot has been recently remodeled in 2017. IT'S A MUST SEE! New concrete driveway and walk ways. New flooring and cabinetry. Kitchen remodeled with granite countertops, backsplash and stainless steel appliances. Main level bathroom renovated. Finished basement and garage with Epoxy flooring. New air conditioning, washer and dryer, water heater, Sump pump, deck and fenced yard. All new windows. Landscaping completed in 2019. Lawn has been professionally maintained since 2017. This beautiful home is move in ready conveniently located within walking Distance to commons, near I-80, I-355, walking trail and Metra train station in the heart of New Lenox. Enjoy the perks of incorporated New Lenox with low taxes. "

14. 2020-10-23
    status Contingent (Do Not Show) 802-char remark

    Show marketing remark (802 chars)

    This 3 bedroom well maintained home with attached garage on a beautiful corner lot has been recently remodeled in 2017. IT'S A MUST SEE! New concrete driveway and walk ways. New flooring and cabinetry. Kitchen remodeled with granite countertops, backsplash and stainless steel appliances. Main level bathroom renovated. Finished basement and garage with Epoxy flooring. New air conditioning, washer and dryer, water heater, Sump pump, deck and fenced yard. All new windows. Landscaping completed in 2019. Lawn has been professionally maintained since 2017. This beautiful home is move in ready conveniently located within walking Distance to commons, near I-80, I-355, walking trail and Metra train station in the heart of New Lenox. Enjoy the perks of incorporated New Lenox with low taxes. "

15. 2020-10-14
    listed $259,000 New 802-char remark

    Show marketing remark (802 chars)

    This 3 bedroom well maintained home with attached garage on a beautiful corner lot has been recently remodeled in 2017. IT'S A MUST SEE! New concrete driveway and walk ways. New flooring and cabinetry. Kitchen remodeled with granite countertops, backsplash and stainless steel appliances. Main level bathroom renovated. Finished basement and garage with Epoxy flooring. New air conditioning, washer and dryer, water heater, Sump pump, deck and fenced yard. All new windows. Landscaping completed in 2019. Lawn has been professionally maintained since 2017. This beautiful home is move in ready conveniently located within walking Distance to commons, near I-80, I-355, walking trail and Metra train station in the heart of New Lenox. Enjoy the perks of incorporated New Lenox with low taxes. "

16. 2017-04-26
    soldstatus $202,000
17. 2017-04-22
    soldstatus $202,000 Closed Sale 275-char remark

    Show marketing remark (275 chars)

    ALL NEW! This 3 bedroom home on 1/2 acre corner lot has been totally remodeled. New everything, Drive way, walk ways, flooring, cabinetry, stainless steel appliances, bathroom, finished basement, finished garage, air conditioning, water heater. , new windows and fenced yard.

18. 2017-03-11
    historical Contingent 275-char remark

    Show marketing remark (275 chars)

    ALL NEW! This 3 bedroom home on 1/2 acre corner lot has been totally remodeled. New everything, Drive way, walk ways, flooring, cabinetry, stainless steel appliances, bathroom, finished basement, finished garage, air conditioning, water heater. , new windows and fenced yard.

19. 2017-01-08
    price $204,900 275-char remark

    Show marketing remark (275 chars)

    ALL NEW! This 3 bedroom home on 1/2 acre corner lot has been totally remodeled. New everything, Drive way, walk ways, flooring, cabinetry, stainless steel appliances, bathroom, finished basement, finished garage, air conditioning, water heater. , new windows and fenced yard.

20. 2016-11-15
    price $214,900 275-char remark

    Show marketing remark (275 chars)

    ALL NEW! This 3 bedroom home on 1/2 acre corner lot has been totally remodeled. New everything, Drive way, walk ways, flooring, cabinetry, stainless steel appliances, bathroom, finished basement, finished garage, air conditioning, water heater. , new windows and fenced yard.

21. 2016-10-21
    price $219,900 275-char remark

    Show marketing remark (275 chars)

    ALL NEW! This 3 bedroom home on 1/2 acre corner lot has been totally remodeled. New everything, Drive way, walk ways, flooring, cabinetry, stainless steel appliances, bathroom, finished basement, finished garage, air conditioning, water heater. , new windows and fenced yard.

22. 2016-10-12
    listed $229,900 New 275-char remark

    Show marketing remark (275 chars)

    ALL NEW! This 3 bedroom home on 1/2 acre corner lot has been totally remodeled. New everything, Drive way, walk ways, flooring, cabinetry, stainless steel appliances, bathroom, finished basement, finished garage, air conditioning, water heater. , new windows and fenced yard.

23. 2016-07-19
    soldstatus $120,000
24. 2016-07-01
    soldstatus $120,000 Closed Sale
25. 2016-06-03
    status Pending
26. 2016-05-30
    listed $99,900 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: $6,576 · $548/mo
• Projected year-2 tax: $6,580 · $548/mo
• Expected delta: +$3/yr ($0/mo · 0.1%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥103°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $36,729
• − Mortgage interest: −$16,245
• − Property taxes: −$6,576
• − Insurance: −$1,450
• − Repairs & maintenance: −$2,938
• − Management: −$2,938
• − Depreciation: −$8,436
• Taxable loss: −$1,855
• Est. tax savings @ 24.0%: +$445
• After-tax cash flow: $3,185/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 — New Lenox

• Score: 79/100
• State rank: #127
• US rank: #2348

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: New Lenox, IL
• City population: 37,481
• Population (ZIP): 37,481

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 (89%)
• Race & ethnicity: White 89% Two or more races 6% Hispanic / Latino 5% Asian 1%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Romanian 18% Iranian 4% Italian 1%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Spanish 2% Russian/Polish/Slavic 1%

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: ▼ -192.55%
• Current HPI: 239.0926
• 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

+190.3% since first listed

17 events — show timeline

• 2026-05-18 Contingent — MRED as Distributed by MLS Grid
• 2026-05-14 Listed $290,000 MRED as Distributed by MLS Grid
• 2021-01-19 Sold (Public Records) $254,000 Public Records
• 2020-11-30 Sold (MLS) $254,000 MRED as Distributed by MLS Grid
• 2020-10-23 Pending — MRED as Distributed by MLS Grid
• 2020-10-14 Listed $259,000 MRED as Distributed by MLS Grid
• 2017-04-26 Sold (Public Records) $202,000 Public Records
• 2017-04-22 Sold (MLS) $202,000 MRED as Distributed by MLS Grid
• 2017-03-11 Contingent — MRED as Distributed by MLS Grid
• 2017-01-08 Price Changed $204,900 MRED as Distributed by MLS Grid
• 2016-11-15 Price Changed $214,900 MRED as Distributed by MLS Grid
• 2016-10-21 Price Changed $219,900 MRED as Distributed by MLS Grid
• 2016-10-12 Listed $229,900 MRED as Distributed by MLS Grid
• 2016-07-19 Sold (Public Records) $120,000 Public Records
• 2016-07-01 Sold (MLS) $120,000 MRED as Distributed by MLS Grid
• 2016-06-03 Pending — MRED as Distributed by MLS Grid
• 2016-05-30 Listed $99,900 MRED as Distributed by MLS Grid

Property tax history

+4.0%/yr

Latest (2024): $6,576 · +4.5% YoY. Source: county tax records.