3087 Kelly Ct

Aurora, IL 60504

$300,000D-

3 bd · 1.5 ba · 1,251 sqft · Built 1991 · Townhouse · Active · 2 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,570/mo
• Mortgage (P&I): −$1,573
• Tax + insurance: −$500
• HOA: −$23
• Vac / Maint / Mgmt: −$540
• Net cashflow: $-66/mo
• Annual: $-791/yr
• Cap rate: 6.03%
• Cash-on-cash: -0.94%
• DSCR: 0.96
• 1% rule: 0.86%
• Cash to close: $84,000

Investor read

• This is a 3-bed/1.5-bath townhouse listed at $300k.
• At list price, monthly cash flow is $-66 ($-791/yr) — negative.
• To cash-flow at today's rent, offer at most $290k (3.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $257k (14.3% below list).
• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $257k (14.3% below list) — sets the bar for 1% rule.
• 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 75/100 on livability (#232 in IL, #4,272 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, housing A+, employment A-; Watch: amenities F, health & safety F.
• Indian Prairie CUSD 204 (urban): math 47% / reading 47% proficiency, ranked #52 of 620 in IL (top 8%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; only 13% free/reduced lunch — higher-income household profile.
• Zoned schools: Peter M Gombert Elementary Sch (math 27% / reading 22%, grade F, #850 of 2,056 statewide, top 45%, 403 students, 0% FRL); Still Middle School (math 37% / reading 40%, grade F, #154 of 665 statewide, top 24%, 642 students, 0% FRL); Waubonsie Valley High School (math 47% / reading 52%, grade D, #44 of 693 statewide, top 7%, 2,766 students, 0% FRL).
• Market conditions: Rents rising fast (+4.9%/yr); 60 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 20d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 1,378 units permitted in DuPage County in 2024 (594 in 5+ unit buildings).
• Cap rate 6.0% vs local median 3.5% in Aurora — 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.
• This rent runs 31% of the median local income ($98k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
• 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.