14910 S Wood St

Harvey, IL 60426

$150,000F

1 bd · 1.0 ba · 422 sqft · Built 1931 · SingleFamily · Active · 39 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $962/mo
• Mortgage (P&I): −$787
• Tax + insurance: −$442
• HOA: −$0
• Vac / Maint / Mgmt: −$202
• Net cashflow: $-469/mo
• Annual: $-5,628/yr
• Cap rate: 4.08%
• Cash-on-cash: -7.90%
• DSCR: 0.65
• 1% rule: 0.64%
• Cash to close: $42,000

Investor read

• This is a 1-bed/1.0-bath single-family listed at $150k.
• At list price, monthly cash flow is $-469 ($-6k/yr) — negative.
• To cash-flow at today's rent, offer at most $82k (45.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $96k (35.9% below list).
• It's been on market 39 days — a 3% lower offer ($146k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $82k (45.2% below list) — sets the bar for cash-flow.
• In year one you build about $16k of equity ($1k loan paydown + $15k appreciation (10.0% local appreciation)).
• Location reads 67/100 on livability (#539 in IL) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A-; Watch: health & safety D+, schools F, crime F.
• Thornton Twp Hsd 205 (suburban): math 7% / reading 8% proficiency, ranked #594 of 620 in IL (top 96%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Watch-outs: flood insurance adds $192/mo; built in 1931 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 133 active listings in the ZIP; 6,272 units permitted in Cook County in 2024 (4,658 in 5+ unit buildings).
• 4 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.
• Current owner paid $6k; list at $150k implies a 2603% gain — meaningful room to come down on a strong offer.
• By year 3, paydown + projected appreciation supports a ~$41k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: in FEMA flood zone AH (mandatory federal flood insurance) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 4.1% vs local median 9.3% in Harvey — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

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?
• It's been on market 39 days. Have you received any prior offers? Is the seller open to a 45% concession, seller financing, or rate buy-down credit?
• Built in 1931 — 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?
• Crime grade is F 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?