2743 Rourke Dr

Aurora, IL 60503

$499,900D-

4 bd · 2.5 ba · 2,195 sqft · Built 2004 · SingleFamily · Active · 38 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $3,110/mo
• Mortgage (P&I): −$2,622
• Tax + insurance: −$1,137
• HOA: −$34
• Vac / Maint / Mgmt: −$653
• Net cashflow: $-1,336/mo
• Annual: $-16,029/yr
• Cap rate: 3.09%
• Cash-on-cash: -11.45%
• DSCR: 0.49
• 1% rule: 0.62%
• Cash to close: $139,972

Investor read

• This is a 4-bed/2.5-bath single-family listed at $500k.
• At list price, monthly cash flow is $-1k ($-16k/yr) — negative.
• To cash-flow at today's rent, offer at most $264k (47.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $311k (37.8% below list).
• It's been on market 38 days — a 3% lower offer ($485k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $264k (47.2% below list) — sets the bar for cash-flow.
• In year one you build about $53k of equity ($3k loan paydown + $50k appreciation (10.0% local appreciation)).
• Location reads 75/100 on livability (#232 in IL, #4,272 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, housing A+, employment A-; Watch: amenities F, health & safety F.
• CUSD 308 (suburban): math 29% / reading 34% proficiency, ranked #179 of 620 in IL (top 29%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; only 20% free/reduced lunch — higher-income household profile.
• Zoned schools: Wolfs Crossing Elem School (math 42% / reading 42%, grade F, #336 of 2,056 statewide, top 18%, 485 students, 0% FRL); Bednarcik Junior High School (math 39% / reading 38%, grade F, #154 of 665 statewide, top 24%, 571 students, 0% FRL); Oswego East High School (math 35% / reading 40%, grade F, #104 of 693 statewide, top 15%, 2,836 students, 0% FRL) — zoned schools average 0% FRL vs 20% district-wide (20 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 122 active listings in the ZIP; 23 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 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.
• 4 sale attempts since 9y 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 $240k; list at $500k implies a 108% gain — meaningful room to come down on a strong offer.
• By year 2, paydown + projected appreciation supports a ~$86k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

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 38 days. Have you received any prior offers? Is the seller open to a 47% concession, seller financing, or rate buy-down credit?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• 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?
• 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.