17860 N Woodlawn Ln

Woodlawn, IL 62898

$139,500C-

3 bd · 1.0 ba · 1,192 sqft · Built 1969 · SingleFamily · Pending · 25 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,091/mo
• Mortgage (P&I): −$732
• Tax + insurance: −$141
• HOA: −$0
• Vac / Maint / Mgmt: −$229
• Net cashflow: $-11/mo
• Annual: $-131/yr
• Cap rate: 6.20%
• Cash-on-cash: -0.33%
• DSCR: 0.99
• 1% rule: 0.78%
• Cash to close: $39,060

Investor read

• This is a 3-bed/1.0-bath single-family listed at $140k.
• At list price, monthly cash flow is $-11 ($-131/yr) — negative.
• To cash-flow at today's rent, offer at most $138k (1.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $109k (21.8% below list).
• It's been on market 25 days — a 2% lower offer ($137k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $109k (21.8% below list) — sets the bar for 1% rule.
• In year one you build about $15k of equity ($964 loan paydown + $14k appreciation (10.0% local appreciation)).
• Location reads 63/100 on livability (#803 in IL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: crime D, amenities F, commute F.
• Zoned schools: Woodlawn High School (math 15% / reading 24%, grade F, #379 of 693 statewide, top 57%, 176 students, 0% FRL).
• Market conditions: 10 active listings in the ZIP; 6 units permitted in Jefferson County in 2024 (0 in 5+ unit buildings).
• Jefferson County population projected at -14% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• Current owner paid $25k; list at $140k implies a 458% gain — meaningful room to come down on a strong offer.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $39k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$38k 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?
• Built in 1969 — 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 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 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?
• 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.
• How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.