1722 N 36th Ave

Stone Park, IL 60165

$179,000C

3 bd · 1.0 ba · 924 sqft · Built 1949 · SingleFamily · Pending · 43 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,699/mo
• Mortgage (P&I): −$939
• Tax + insurance: −$365
• HOA: −$0
• Vac / Maint / Mgmt: −$357
• Net cashflow: $39/mo
• Annual: $465/yr
• Cap rate: 7.00%
• Cash-on-cash: 2.52%
• DSCR: 1.11
• 1% rule: 0.95%
• Cash to close: $50,120

Investor read

• This is a 3-bed/1.0-bath single-family listed at $179k. Condition is rated fair.
• At list price, monthly cash flow is $39 ($465/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $170k (5.1% below list).
• It's been on market 43 days — a 3% lower offer ($174k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $170k (5.1% below list) — sets the bar for 1% rule.
• In year one you build about $13k of equity ($1k loan paydown + $12k appreciation (6.7% local appreciation)).
• Location reads 82/100 on livability (#68 in IL, #1,121 nationally) — a professional / high-income tenant draw. Strengths: crime A+, commute A+, cost of living A+; Watch: amenities D+, health & safety D+.
• Proviso Twp Hsd 209 (suburban): math 12% / reading 17% proficiency, ranked #507 of 620 in IL (top 82%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Grant Elem School (301 students, 0% FRL); Roosevelt Middle School (695 students, 0% FRL); Proviso West High School (math 6% / reading 11%, grade F, #584 of 693 statewide, top 85%, 1,868 students, 0% FRL).
• Watch-outs: flood insurance adds $66/mo; built in 1949 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 7 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals at typical pace (median 27d on market — plan ~3-4 weeks tenant-placement turnaround); 6,272 units permitted in Cook County in 2024 (4,658 in 5+ unit buildings).
• 2 sale attempts 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.
• At projected returns (6.7% appreciation + 3.0% rent growth), your $50k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: severe flood risk — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• It's been on market 43 days. Have you received any prior offers? Is the seller open to a 5% concession, seller financing, or rate buy-down credit?
• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• Built in 1949 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
• 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?
• 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.

Repairs flagged (vision-AI assessment)

• Major: kitchen appliances — need to replace old, inefficient units
• Major: bathroom fixtures — need to replace old, inefficient units
• Major: flooring — need to replace damaged hardwoods
• Major: interior walls — need to repair and paint peeling paint
• Major: exterior siding — need to replace weathered siding
• Major: windows — need to replace old, single-pane windows