7A Kingery Quarter Ave #201

Burr Ridge, IL 60527

$209,999C+

3 bd · 2.0 ba · 1,200 sqft · Built 1981 · Condo · Active · 17 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,771/mo
• Mortgage (P&I): −$1,101
• Tax + insurance: −$281
• HOA: −$497
• Vac / Maint / Mgmt: −$582
• Net cashflow: $310/mo
• Annual: $3,722/yr
• Cap rate: 8.07%
• Cash-on-cash: 6.33%
• DSCR: 1.28
• 1% rule: 1.32%
• Cash to close: $58,800

Investor read

• This is a 3-bed/2.0-bath condo listed at $210k.
• At list price, monthly cash flow is $310 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $210k).
• It's been on market 17 days — a 2% lower offer ($207k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $207k (1.5% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Location reads 76/100 on livability (#200 in IL, #3,725 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A; Watch: health & safety D+, amenities F, cost of living F.
• Hinsdale Twp Hsd 86 (suburban): math 62% / reading 64% proficiency, ranked #17 of 620 in IL (top 3%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising fast (+5.3%/yr); 127 active listings in the ZIP; 1 comparable units currently listed for rent nearby; solid renter incomes; 1,378 units permitted in DuPage County in 2024 (594 in 5+ unit buildings).
• 2 sale attempts; this cycle's ask has dropped $12k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• At projected returns (-3.0% appreciation + 5.3% rent growth), your $59k cash investment doubles in ~10 years — after that, you're playing with house money.
• Cap rate 8.1% vs local median 1.4% in Burr Ridge — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.
• This rent runs 31% of the median local income ($107k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• 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 B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
• 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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.