430 South Ave

Glencoe, IL 60022

$2,299,000F

4 bd · 3.5 ba · 3,702 sqft · Built 2002 · SingleFamily · Active · 24 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,908/mo
• Mortgage (P&I): −$12,056
• Tax + insurance: −$1,601
• HOA: −$0
• Vac / Maint / Mgmt: −$611
• Net cashflow: $-11,360/mo
• Annual: $-136,316/yr
• Cap rate: 0.36%
• Cash-on-cash: -21.18%
• DSCR: 0.06
• 1% rule: 0.13%
• Cash to close: $643,720

Investor read

• This is a 4-bed/3.5-bath single-family listed at $2.30M.
• At list price, monthly cash flow is $-11k ($-136k/yr) — negative.
• To cash-flow at today's rent, offer at most $292k (87.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $291k (87.3% below list).
• It's been on market 24 days — a 2% lower offer ($2.26M) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $291k (87.3% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $16k of loan paydown is wiped out by about $69k of value loss. Plan a longer hold.
• Location reads 79/100 on livability (#119 in IL, #2,064 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, commute A+, employment A+; Watch: amenities D+, cost of living F.
• New Trier Twp Hsd 203 (suburban): math 76% / reading 80% proficiency, ranked #2 of 620 in IL (top 0%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Zoned schools: South Elem School (395 students, 0% FRL); Central School (math 65% / reading 64%, grade A-, #14 of 665 statewide, top 2%, 568 students, 0% FRL); New Trier Township H S Northfield (923 students, 0% FRL).
• Zoned-school proficiency averages 64% at this address vs 78% district-wide (-14 pts) — the specific schools serving this property underperform the New Trier Twp Hsd 203 average; the district grade overstates school quality for this exact location.
• Market conditions: 41 active listings in the ZIP; 6,272 units permitted in Cook County in 2024 (4,658 in 5+ unit buildings).
• 2 sale attempts since 6y ago; this cycle's ask has dropped $201k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $1.58M; 45% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• Cap rate 0.4% vs local median 1.7% in Glencoe — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

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?
• 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?
• 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.