421 E Osage Ln Unit 1A · Palatine, IL 60074

$169,000

1 bd · 1.0 ba · 700 sqft · Condo · 63 Days on market

Built 1970 $215/mo HOA · 13% of rent

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Why this score? — see what drove the D grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +11.3/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• Schools +4.0/10.0
• Livability +4.0/5.0
• Rent growth +3.6/5.0
• DSCR +3.3/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

First Floor Condo. Fire Place in living room. Walk in closet in Master bedroom.

Key facts

• Fire place
• Walk in closet
• $215 HOA

Tags

• FIRE PLACE
• WALK IN CLOSET

Property features AI

Finance

• Other: 6 units in the building; Living area source: Estimated; Directions: Rand Rd. north of Dundee, west on Spruce, straight to Osage
• Financial info: Special service area: No
• HOA & community: Monthly association fee of $203; Association covers water, parking, insurance, exterior maintenance, lawn care, scavenger, and snow removal; Coin laundry onsite; Manager off-site; Pets allowed (cats and dogs); maximum pet weight listed as 999

Exterior

• Parking: 2 parking spaces; Other parking features
• Utilities: Water source: Lake Michigan; Public sewer
• Home design: Attached single (condo); Condo ownership; Entry level: 1; Currently leased
• Construction: Brick construction; Estimated age: 51–60 years; Built before 1978
• Exterior features: Common lot/grounds; School bus service; Interstate access

Interior

• Kitchen: Kitchen on main level; Range; Dishwasher; Refrigerator
• Bedrooms: 1 bedroom (master bedroom on main level); Additional bedrooms listed (Bedroom 2, Bedroom 3, Bedroom 4) — total bedrooms possible: 1
• Flooring: Laminate flooring in living room
• Bathrooms: 1 full bathroom
• Heating & cooling: Electric heating; Wall unit cooling
• Interior features: 3 total rooms; Living room with laminate flooring; Dining room; Family room; Laundry room (common area); One fireplace in the living room
• Laundry & utility: Laundry in common area

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $169k.

Deal economics

• At list price, monthly cash flow is $-63 ($-760/yr) — negative.
• To cash-flow at today's rent, offer at most $158k (6.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $169k (0.2% below list).
• Recommended offer: $158k (6.6% below list) — sets the bar for cash-flow.
• Cap rate 5.8% vs local median 3.2% in Palatine — 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.

Location & tenants

• Location reads 81/100 on livability (#92 in IL, #1,512 nationally) — a professional / high-income tenant draw. Strengths: crime A+, employment A+, housing A+; Watch: amenities C-.
• Township Hsd 211 (urban): math 45% / reading 43% proficiency, ranked #89 of 620 in IL (top 14%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Palatine High School (math 26% / reading 29%, grade F, #215 of 693 statewide, top 31%, 2,652 students, 0% FRL).
• Zoned-school proficiency averages 28% at this address vs 44% district-wide (-16 pts) — the specific schools serving this property underperform the Township Hsd 211 average; the district grade overstates school quality for this exact location.
• Market conditions: Rents rising fast (+4.3%/yr); 94 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals at typical pace (median 14d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 6,272 units permitted in Cook County in 2024 (4,658 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 63 days — a 6% lower offer ($159k) is reasonable based on typical stale-listing flexibility.

Recommended offer $157,815 (6.6% below list)

Questions for the listing agent

1. 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?
2. It's been on market 63 days. Have you received any prior offers? Is the seller open to a 7% concession, seller financing, or rate buy-down credit?
3. Built in 1970 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. 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?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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.
10. 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.
11. 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.

Investment metrics

• 1% rule: 1.00% ✗
• Cap rate: 5.84%
• Cash-on-cash: -1.61%
• DSCR: 0.93
• GRM: 8.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 4.35% rent growth · sell at horizon

5-year hold

• IRR: -17.0%
• Equity multiple: 0.39×
• Total profit: $-28,931
• Equity at exit: $25,198

10-year hold

• IRR: -6.1%
• Equity multiple: 0.58×
• Total profit: $-19,921
• Equity at exit: $14,612

Cash invested: $47,320 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 43 Moderately Tenant-Leaning
• State Illinois: 43 Moderately Tenant-Leaning · D+7
• County: — inherits STATE
• City: — inherits STATE

Chicago RTLO is among the strongest tenant ordinances in the Midwest; downstate is more landlord-friendly.

Methodology + full state rankings →

ZIP-level market 60074

• Rents YoY: 4.3%
• Active inventory: 94
• Price-to-rent: 8.4×

Monthly cashflow live

• Estimated rent: $1,686 high
• Mortgage (P&I): −$886
• Tax from tax record: −$224 /mo · $2,687/yr
• Insurance: −$70
• HOA: −$215
• Vacancy / Maint / Mgmt: −$354
• Net cashflow: $-63

Break-even live

Break-even rent $1,767

Max offer price $157,815

Occupancy floor 99%

Sensitivity live

Price	-10% $32	-5% $-15	+0% $-63	+5% $-111	+10% $-159
Rent	-10% $-197	-5% $-130	+0% $-63	+5% $3	+10% $70
Rate	-1.0pp $22	-0.5pp $-20	base $-63	+0.5pp $-107	+1.0pp $-152

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $42,250
• Closing costs: $5,070
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1935 N Hicks Rd #106 Palatine, IL	2.0	1.0	700	$1,795	$2.56	25d	1	0.12mi
15B E Dundee Quarter Dr Unit 301 Palatine, IL	1.0	1.0	700	$1,550	$2.21	3d	1	0.79mi
125 W Dundee Rd Palatine, IL	1.0–2.0	1.0–2.0	940	$1,635	$1.74	0d	17	0.79mi
9 E Dundee Quarter Dr Palatine, IL	1.0	1.0	750	$1,650	$2.20	14d	1	0.83mi
2 E Dundee Quarter Dr Palatine, IL	1.0	1.0	600	$1,495	$2.49	0d	1	0.88mi
1950 Cambridge Ct Palatine, IL	1.0–2.0	1.0	827	$1,630	$1.97	7d	9	1.02mi
1 Renaissance Pl #104 Palatine, IL	1.0	1.0	750	$1,600	$2.13	23d	1	1.38mi
1 Renaissance Pl #112 Palatine, IL	1.0	1.0	730	$1,650	$2.26	25d	1	1.38mi

HOA detail condo

• Monthly dues: $215 · $2,580/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 18 events

1. 2026-06-21
   days on market $169,000 Active 63 DOM
2. 2026-06-18
   days on market $169,000 Active 60 DOM
3. 2026-06-17
   days on market $169,000 Active 59 DOM
4. 2026-06-16
   days on market $169,000 Active 58 DOM
5. 2026-06-15
   days on market $169,000 Active 57 DOM
6. 2026-06-13
   days on market $169,000 Active 55 DOM
7. 2026-06-13
   days on market $169,000 Active 54 DOM
8. 2026-06-09
   days on market $169,000 Active 51 DOM
9. 2026-06-08
   days on market $169,000 Active 50 DOM
10. 2026-06-07
    days on market $169,000 Active 49 DOM
11. 2026-06-03
    pricedays on market $169,000 Active 45 DOM
12. 2026-06-02
    days on market $175,000 Active 44 DOM
13. 2026-06-01
    days on market $175,000 Active 43 DOM
14. 2026-05-31
    days on market $175,000 Active 42 DOM
15. 2015-03-10
    soldstatus $746,000
16. 2007-06-22
    historical
17. 2006-11-02
    listed
18. 1988-11-23
    soldstatus $716,700

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast IL · Partial reset (capped growth)

• Current annual tax: $2,687 · $224/mo
• Projected year-2 tax: $3,262 · $272/mo
• Expected delta: +$575/yr (+$48/mo · 21.4%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥100°F today · 14 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 0% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,237
• − Mortgage interest: −$9,467
• − Property taxes: −$2,687
• − Insurance: −$845
• − Repairs & maintenance: −$1,619
• − Management: −$1,619
• − HOA: −$2,580
• − Depreciation: −$4,916
• Taxable loss: −$3,496
• Est. tax savings @ 24.0%: +$839
• After-tax cash flow: $79/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Township Hsd 211
• NCES district ID: 1730450
• Math proficiency: 45% ▼ -8.00%
• Reading proficiency: 43% ▼ -4.00%
• Median HH income: $72,942
• Composite: 40.02/100
• National rank: #3824
• State rank: #89 of 620 in IL

Livability — Palatine

• Score: 81/100
• State rank: #92
• US rank: #1512

Category grades

Amenities C- Commute B- Cost of living C Crime A+ Employment A+ Housing A+ Health & safety B- User ratings A-

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Palatine, IL
• County: Cook County · 4,486,803 people
• City population: 74,664
• Metro: Chicago-Naperville-Elgin, IL-IN-WI
• Population (ZIP): 36,460
• Household income: $84,089
• Rent vs Own: 38.4% rent · 61.6% own
• Severe rent burden: 1468.0

Population outlook (Cook County) Hauer SSP2

• Today (2025): 5,347,519 people
• By 2030: 5,357,703 · +0.2%
• By 2040: 5,324,924 · -0.4%
• By 2050: 5,230,762 · -2.2%
• By 2075: 4,785,735 · -10.5%
• By 2100: 4,188,836 · -21.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.62)
• Race & ethnicity: White 52% Hispanic / Latino 31% Asian 8% Two or more races 8% Black 6% Pacific Islander 1%
• Hispanic origin (detail): Mexican 26% Puerto Rican 1%
• Common ancestry: Romanian 9% Scotch-Irish 2% French 2%
• Foreign-born: 27% · Canada, South Korea, Jamaica
• Languages at home: 56% English-only · Spanish 26% Russian/Polish/Slavic 8% Other Indo-European 5%

Political lean MEDSL · Cook

• 2024 margin: Solid D (+42.0) · D 70.4% · R 28.4% · Other 1.2%
• 2008→2024 swing: -11.4pp toward R · 2008: 53.4pp · 2024: 42.0pp
• All cycles: 2024: D+42.0 2020: D+50.3 2016: D+53.0 2012: D+49.4 2008: D+53.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -208.39%
• Current HPI: 220.9425
• Rent YoY: ▲ 4.35%
• Metro: Chicago-Naperville-Elgin, IL-IN-WI
• State GDP YoY: ▲ 1.59%
• F500 in state: 60

Industry mix (Fortune 500 HQ in IL)

Industry	F500 HQs	Revenue
▸Insurance	4	$201B
▸Consumer Goods	4	$87B
▸Industrial Machinery	3	$64B
▸Healthcare	2	$55B
▸Retail / Pharmacy	1	$148B
▸Agriculture / Food	1	$86B

Price history

+4.1% since first listed

4 events — show timeline

• 2015-03-10 Sold (Public Records) $746,000 Public Records
• 2007-06-22 Listing Removed — MRED as Distributed by MLS Grid
• 2006-11-02 Listed — MRED as Distributed by MLS Grid
• 1988-11-23 Sold (Public Records) $716,700 Public Records

Property tax history

+1.1%/yr

Latest (2023): $2,687 · +3.4% YoY. Source: county tax records.