4815 Butterfield Rd

Hillside, IL 60162

$675,000F

6 bd · 5.0 ba · 7,460 sqft · Built 1927 · Condo · Active · 58 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,292/mo
• Mortgage (P&I): −$3,540
• Tax + insurance: −$2,759
• HOA: −$0
• Vac / Maint / Mgmt: −$481
• Net cashflow: $-4,488/mo
• Annual: $-53,856/yr
• Cap rate: -1.69%
• Cash-on-cash: -28.50%
• DSCR: -0.27
• 1% rule: 0.34%
• Cash to close: $189,000

Investor read

• This is a 6-bed/5.0-bath condo listed at $675k.
• At list price, monthly cash flow is $-4k ($-54k/yr) — negative.
• To cash-flow at today's rent, offer at most $262k (61.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $229k (66.0% below list).
• It's been on market 58 days — a 3% lower offer ($655k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $229k (66.0% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $5k of loan paydown is wiped out by about $20k of value loss. Plan a longer hold.
• Location reads 73/100 on livability (#269 in IL) — a middle-class / working-renter tenant base. Strengths: commute A+, housing A+, cost of living A-; Watch: health & safety D+, schools F, amenities F.
• Proviso Twp Hsd 209 (suburban): math 12% / reading 17% proficiency, ranked #507 of 620 in IL (top 82%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Watch-outs: property tax is 4.4% of price; built in 1927 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 9 active listings in the ZIP; 6,272 units permitted in Cook County in 2024 (4,658 in 5+ unit buildings).

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 58 days. Have you received any prior offers? Is the seller open to a 66% concession, seller financing, or rate buy-down credit?
• Built in 1927 — 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?
• 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.
• 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?