23737 W Lakepoint Dr #148 · Channahon, IL 60410

$167,500

3 bd · 2.0 ba · 1,500 sqft · Manufactured · 5 Days on market

Built 2026 Good condition

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Why this score? — see what drove the B- 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 +29.1/30.0
• DSCR +10.0/10.0
• 1% rule +8.1/10.0
• ARV discount +7.5/15.0
• Condition / age +4.0/5.0
• Livability +3.9/5.0
• Schools +3.1/10.0
• Rent growth +2.5/5.0
• Appreciation +1.2/10.0

Listing remarks

Some homes just feel different the second you walk in. This brand-new home was designed for real life - slow mornings around the oversized kitchen island, family gathered for holidays, quiet coffee by the windows, and enough space for everyone to feel comfortable. With over 1,500 sq. ft. , 3 bedrooms, 2 baths, and two separate living areas, this home gives you the room to host, relax, work, unwind, and truly live. The kitchen is the heart of it all, featuring a massive island, beautiful cabinetry, stainless steel appliances, and open sightlines into the main living space. One living room can be cozy and peaceful. The other can be for guests, grandkids, movie nights, hobbies, or simply the e

Key facts

• Massive island
• Open sightlines
• Beautiful cabinetry

Tags

• OVERSIZED KITCHEN ISLAND
• MASSIVE ISLAND
• BEAUTIFUL CABINETRY
• STAINLESS STEEL APPLIANCES
• OPEN SIGHTLINES
• TWO SEPARATE LIVING AREAS

Property features AI

Finance

• Other: Active listing; Address: 23737 W Lakepoint Dr #148, Channahon, IL 60410
• Financial info: List price $167,500

Exterior

• Utilities: Electric service; Natural gas service
• Home design: Single-family (spec new construction, Remington Woods plan); 1,500 living area
• Exterior features: Asphalt roof

Interior

• Bedrooms: 3 bedrooms
• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating (electric and natural gas); Central air; Ceiling fan(s)
• Interior features: Dishwasher; Microwave; Refrigerator

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $168k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $580 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $168k).
• Cap rate 10.5% vs local median 2.3% in Channahon — 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 78/100 on livability (#143 in IL, #2,614 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: amenities F, commute F.
• Minooka Chsd 111 (suburban): math 28% / reading 36% proficiency, ranked #187 of 620 in IL (top 30%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 106 active listings in the ZIP; 1 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 $1k of loan paydown is wiped out by about $5k 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $47k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.

Recommended offer $167,500

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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.
3. 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.
4. 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: 1.31% ✓
• Cap rate: 10.45%
• Cash-on-cash: 14.85%
• DSCR: 1.66
• GRM: 6.3

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: 5.4%
• Equity multiple: 1.21×
• Total profit: $9,860
• Equity at exit: $24,975

10-year hold

• IRR: 14.9%
• Equity multiple: 2.20×
• Total profit: $56,324
• Equity at exit: $14,482

Cash invested: $46,900 (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 60410

• Home prices YoY: -3.2%
• Active inventory: 106
• Price-to-rent: 6.3×

Monthly cashflow live

• Estimated rent: $2,200 medium
• Mortgage (P&I): −$878
• Tax est. 1.5%: −$209 /mo · $2,512/yr
• Insurance: −$70
• HOA: −$0
• Vacancy / Maint / Mgmt: −$462
• Net cashflow: $580

Break-even live

Break-even rent $1,465

Max offer price $167,500

Occupancy floor 69%

Sensitivity live

Price	-10% $696	-5% $638	+0% $580	+5% $523	+10% $465
Rent	-10% $407	-5% $494	+0% $580	+5% $667	+10% $754
Rate	-1.0pp $665	-0.5pp $623	base $580	+0.5pp $537	+1.0pp $493

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: $41,875
• Closing costs: $5,025
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
22451 S Carrie Ave Channahon, IL	3.0	1.0	1176	$2,200	$1.87	8d	1	0.94mi

Listing history 4 events

1. 2026-06-21
   days on market $167,500 Active 5 DOM
2. 2026-06-18
   days on market $167,500 Active 2 DOM
3. 2026-06-17
   remarks 699-char remark
4. 2026-06-17
   listed $167,500 Active 1 DOM

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

Taxation est. · year 1

• Rental income: $26,400
• − Mortgage interest: −$9,383
• − Property taxes: −$2,512
• − Insurance: −$838
• − Repairs & maintenance: −$2,112
• − Management: −$2,112
• − Depreciation: −$4,873
• Taxable income: $4,571
• Est. tax owed @ 24.0%: −$1,097
• After-tax cash flow: $5,868/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.

Condition & rehab AI · 12 photos

Good 80/100 None rehab

This brand-new home is move-in ready with a modern kitchen, two bathrooms, and hardwood flooring throughout. It offers ample space and is well-maintained, making it an attractive option for both buyers and renters.

Value-add opportunities

• Both Painting the interior walls — Fresh paint can make a home feel new and inviting.
• Both Adding smart home features — Smart home features can increase both resale and rental value.
• Both Upgrading the flooring in bathrooms — Upgrading the flooring in bathrooms can improve both resale and rental value.
• Both Adding a smart thermostat — A smart thermostat can improve energy efficiency and comfort, increasing both resale and rental value.

Renovation cost estimate screening

Value-add ROI direction

• Both Painting the interior walls — Fresh paint can make a home feel new and inviting. ↑
• Both Adding smart home features — Smart home features can increase both resale and rental value. ↑
• Both Upgrading the flooring in bathrooms — Upgrading the flooring in bathrooms can improve both resale and rental value. ↑
• Both Adding a smart thermostat — A smart thermostat can improve energy efficiency and comfort, increasing both resale and rental value. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Minooka Chsd 111
• NCES district ID: 1726340
• Math proficiency: 28% ▼ -8.00%
• Reading proficiency: 36% ▼ -7.00%
• Median HH income: $81,260
• Composite: 30.82/100
• National rank: #6138
• State rank: #187 of 620 in IL

Livability — Channahon

• Score: 78/100
• State rank: #143
• US rank: #2614

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Channahon, IL
• City population: 14,027
• Population (ZIP): 14,027

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% Hispanic / Latino 14% Two or more races 5%
• Hispanic origin (detail): Mexican 7% Puerto Rican 4% Cuban 2%
• Common ancestry: Romanian 10% Lithuanian 2% Iranian 2%
• Foreign-born: 3% · Canada
• Languages at home: 94% English-only · Spanish 5% Other Indo-European 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: ▼ -7.58%
• Current HPI: 227.2488
• 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