222 Bertram Dr Unit K

Yorkville, IL 60560

$200,000D

1 bd · 1.0 ba · 1,011 sqft · Built 2006 · Condo · Active · 32 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,006/mo
• Mortgage (P&I): −$1,049
• Tax + insurance: −$527
• HOA: −$29
• Vac / Maint / Mgmt: −$421
• Net cashflow: $-20/mo
• Annual: $-241/yr
• Cap rate: 6.17%
• Cash-on-cash: -0.43%
• DSCR: 0.98
• 1% rule: 1.00%
• Cash to close: $56,000

Investor read

• This is a 1-bed/1.0-bath condo listed at $200k.
• At list price, monthly cash flow is $-20 ($-241/yr) — negative.
• To cash-flow at today's rent, offer at most $196k (1.8% below list).
• Meets the 1% rule at list price ($2k rent vs $200k).
• It's been on market 32 days — a 3% lower offer ($194k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $194k (3.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Location reads 86/100 on livability (#25 in IL, #458 nationally) — a professional / high-income tenant draw. Strengths: crime A+, amenities A+, employment A+; Watch: commute F.
• Yorkville CUSD 115 (suburban): math 34% / reading 42% proficiency, ranked #131 of 620 in IL (top 21%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; only 17% free/reduced lunch — higher-income household profile.
• Zoned schools: Bristol Bay Elem Sch (math 38% / reading 39%, grade F, #443 of 2,056 statewide, top 22%, 683 students, 0% FRL); Yorkville Middle School (math 33% / reading 47%, grade F, #140 of 665 statewide, top 22%, 1,105 students, 0% FRL); Yorkville High School (math 32% / reading 39%, grade F, #121 of 693 statewide, top 18%, 2,118 students, 0% FRL) — zoned schools average 0% FRL vs 17% district-wide (17 pts lower); this property's tenant base skews higher-income than the district average.
• Watch-outs: property tax is 2.7% of price.
• Market conditions: 204 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals leasing fast (median 4d on market — plan ~1-2 weeks tenant-placement turnaround); high-income renter base; 706 units permitted in Kendall County in 2024 (263 in 5+ unit buildings).
• Kendall County population projected at +20% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 6 sale attempts since 17y ago 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.
• Current owner paid $34k; list at $200k implies a 480% gain — meaningful room to come down on a strong offer.
• Cap rate 6.2% vs local median 4.0% in Yorkville — 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.

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 32 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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.