1718 S 6th Ave

Maywood, IL 60153

$254,999B+

6 bd · 3.0 ba · 3,274 sqft · Built 1930 · MultiFamily · Active · 253 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $7,946/mo
• Mortgage (P&I): −$1,337
• Tax + insurance: −$1,112
• HOA: −$0
• Vac / Maint / Mgmt: −$1,669
• Net cashflow: $3,829/mo
• Annual: $45,943/yr
• Cap rate: 24.31%
• Cash-on-cash: 64.35%
• DSCR: 3.86
• 1% rule: 3.12%
• Cash to close: $71,400

Investor read

• This is a 5 × 3-bed/1.5-bath units multifamily listed at $255k.
• At list price, monthly cash flow is $4k ($46k/yr) — positive. Per door: $766/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($8k rent vs $255k).
• It's been on market 253 days — a 12% lower offer ($224k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $224k (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 $8k of value loss. Plan a longer hold.
• Location reads 78/100 on livability (#146 in IL, #2,694 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: health & safety C-, crime D+, schools F.
• Maywood-Melrose Park-Broadview 89 (suburban): math 14% / reading 21% proficiency, ranked #738 of 919 in IL (top 80%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 74% free/reduced lunch — lower-income household profile, screen leases tightly.
• Watch-outs: property tax is 4.7% of price; built in 1930 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 72 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 6,272 units permitted in Cook County in 2024 (4,658 in 5+ unit buildings).
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $71k cash investment doubles in ~2 years — after that, you're playing with house money.
• Cap rate 24.3% vs local median 4.5% in Maywood — 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.
• At $7,946/mo this rent would consume 139% of the median local household income ($69k/yr) (locally 869% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Questions for listing agent

• It's been on market 253 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
• What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
• Built in 1930 — 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?
• 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 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?