3303 Charlemagne Ave

Hazel Crest, IL 60429

$245,900F

3 bd · 1.5 ba · 1,257 sqft · Built 1971 · SingleFamily · Active · 3 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,545/mo
• Mortgage (P&I): −$1,290
• Tax + insurance: −$828
• HOA: −$0
• Vac / Maint / Mgmt: −$534
• Net cashflow: $-107/mo
• Annual: $-1,285/yr
• Cap rate: 5.77%
• Cash-on-cash: -1.87%
• DSCR: 0.92
• 1% rule: 1.03%
• Cash to close: $68,852

Investor read

• This is a 3-bed/1.5-bath single-family listed at $246k.
• At list price, monthly cash flow is $-107 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $227k (7.7% below list).
• Meets the 1% rule at list price ($3k rent vs $246k).
• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $227k (7.7% below list) — sets the bar for cash-flow.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Location reads 75/100 on livability (#229 in IL, #4,242 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: health & safety C-, crime F, amenities F.
• Bremen Chsd 228 (suburban): math 15% / reading 17% proficiency, ranked #468 of 620 in IL (top 76%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Hillcrest High School (math 4% / reading 4%, grade F, #657 of 693 statewide, top 95%, 1,314 students, 0% FRL).
• Zoned-school proficiency averages 4% at this address vs 16% district-wide (-12 pts) — the specific schools serving this property underperform the Bremen Chsd 228 average; the district grade overstates school quality for this exact location.
• Watch-outs: property tax is 3.5% of price.
• Market conditions: 79 active listings in the ZIP; 17 comparable units currently listed for rent nearby; rentals leasing fast (median 0d on market — plan ~1-2 weeks tenant-placement turnaround); 6,272 units permitted in Cook County in 2024 (4,658 in 5+ unit buildings).
• 5 sale attempts since 4y 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 $156k; list at $246k implies a 58% gain — meaningful room to come down on a strong offer.
• Cap rate 5.8% vs local median 9.0% in Hazel Crest — 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?
• Built in 1971 — 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?
• 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?
• Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
• 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.