65 Lincolnshire Dr

Lincolnshire, IL 60069

$299,000A-

4 bd · 2.5 ba · 2,322 sqft · Built 1962 · SingleFamily · Active · 309 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $4,545/mo
• Mortgage (P&I): −$1,568
• Tax + insurance: −$1,228
• HOA: −$0
• Vac / Maint / Mgmt: −$954
• Net cashflow: $795/mo
• Annual: $9,536/yr
• Cap rate: 11.19%
• Cash-on-cash: 17.50%
• DSCR: 1.78
• 1% rule: 1.52%
• Cash to close: $83,720

Investor read

• This is a 4-bed/2.5-bath single-family listed at $299k.
• At list price, monthly cash flow is $795 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $299k).
• It's been on market 309 days — a 12% lower offer ($263k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $263k (12.0% 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 $9k of value loss. Plan a longer hold.
• Location reads 70/100 on livability (#364 in IL) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: amenities F, commute F, cost of living F.
• Adlai E Stevenson Hsd 125 (suburban): math 72% / reading 73% proficiency, ranked #3 of 620 in IL (top 0%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Zoned schools: Adlai E Stevenson High School (math 72% / reading 73%, grade B+, #7 of 693 statewide, top 1%, 4,489 students, 0% FRL).
• Watch-outs: property tax is 2.7% of price; flood insurance adds $427/mo.
• Market conditions: 43 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals at typical pace (median 16d on market — plan ~3-4 weeks tenant-placement turnaround); 948 units permitted in Lake County in 2024 (424 in 5+ unit buildings).
• Lake County population projected to shrink 8% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• 6 sale attempts; this cycle's ask has dropped $100k (25%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $84k cash investment doubles in ~10 years — after that, you're playing with house money.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 11.2% vs local median 3.0% in Lincolnshire — 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

• It's been on market 309 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Built in 1962 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
• What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
• 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.
• Schools are A-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?
• 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.