The Raven : Build On Your Lot Plan

Flossmoor, IL 60422

$372,450C

3 bd · 1.0 ba · 2,672 sqft · Built — · SingleFamily · Active · 138 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $4,000/mo
• Mortgage (P&I): −$1,906
• Tax + insurance: −$606
• HOA: −$0
• Vac / Maint / Mgmt: −$840
• Net cashflow: $649/mo
• Annual: $7,784/yr
• Cap rate: 8.44%
• Cash-on-cash: 7.65%
• DSCR: 1.34
• 1% rule: 1.10%
• Cash to close: $101,750

Investor read

• This is a 3-bed/1.0-bath single-family listed at $372k.
• At list price, monthly cash flow is $649 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $372k).
• It's been on market 138 days — a 12% lower offer ($328k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $328k (12.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $11k of value loss. Plan a longer hold.
• Location reads 80/100 on livability (#107 in IL, #1,718 nationally) — a professional / high-income tenant draw. Strengths: employment A+, housing A+, schools B+; Watch: cost of living D, amenities F.
• Homewood Flossmoor Chsd 233 (suburban): math 21% / reading 27% proficiency, ranked #272 of 620 in IL (top 44%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 95 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 6,272 units permitted in Cook County in 2024 (4,658 in 5+ unit buildings).
• Cap rate 8.4% vs local median 4.3% in Flossmoor — 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.

Questions for listing agent

• It's been on market 138 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• 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 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.