8832 Rust St #1

Willow Springs, IL 60480

$460,000F

2 bd · 2.0 ba · 1,590 sqft · Built 2025 · Townhouse · Active · 122 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $3,909/mo
• Mortgage (P&I): −$2,412
• Tax + insurance: −$767
• HOA: −$0
• Vac / Maint / Mgmt: −$821
• Net cashflow: $-91/mo
• Annual: $-1,091/yr
• Cap rate: 6.06%
• Cash-on-cash: -0.85%
• DSCR: 0.96
• 1% rule: 0.85%
• Cash to close: $128,800

Investor read

• This is a 2-bed/2.0-bath townhouse listed at $460k.
• At list price, monthly cash flow is $-91 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $447k (2.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $391k (15.0% below list).
• It's been on market 122 days — a 12% lower offer ($405k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $391k (15.0% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $14k of value loss. Plan a longer hold.
• Location reads 70/100 on livability (#371 in IL) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: schools D+, cost of living D+, amenities F.
• Cons Hsd 230 (suburban): math 35% / reading 39% proficiency, ranked #146 of 620 in IL (top 24%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 18 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 6,272 units permitted in Cook County in 2024 (4,658 in 5+ unit buildings).
• 3 sale attempts 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.

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?
• It's been on market 122 days. Have you received any prior offers? Is the seller open to a 15% concession, seller financing, or rate buy-down credit?
• 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 D-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.