8891 67th St

Hodgkins, IL 60525

$347,900D

6 bd · 3.0 ba · 2,126 sqft · Built 1881 · MultiFamily · Pending · 7 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $3,266/mo
• Mortgage (P&I): −$1,824
• Tax + insurance: −$833
• HOA: −$0
• Vac / Maint / Mgmt: −$686
• Net cashflow: $-78/mo
• Annual: $-931/yr
• Cap rate: 6.03%
• Cash-on-cash: -0.96%
• DSCR: 0.96
• 1% rule: 0.94%
• Cash to close: $97,412

Investor read

• This is a 6-bed/3.0-bath multifamily listed at $348k.
• At list price, monthly cash flow is $-78 ($-931/yr) — negative.
• To cash-flow at today's rent, offer at most $334k (3.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $327k (6.1% below list).
• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $327k (6.1% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $10k of value loss. Plan a longer hold.
• Location reads 66/100 on livability (#573 in IL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: employment C-, schools F, crime D-.
• Lyons Twp Hsd 204 (suburban): math 49% / reading 53% proficiency, ranked #43 of 620 in IL (top 7%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Watch-outs: built in 1881 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: Rents rising fast (+5.8%/yr); 88 active listings in the ZIP; high-income renter base; 6,272 units permitted in Cook County in 2024 (4,658 in 5+ unit buildings).
• Current owner paid $126k; list at $348k implies a 177% gain — meaningful room to come down on a strong offer.
• This rent runs 34% of the median local income ($117k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

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 1881 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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?
• Crime grade is D 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.
• 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.