$550,000
Investment Summary
- Monthly Cash Flow
- -$1,552
- Cap Rate
- 2.3%
- Cash-on-Cash Return
- -14.7%
- Debt Coverage Ratio
- 0.40
- Internal Rate of Return (5 years)
- -10.2%
Cash Flow
Net Operating Income (NOI) minus mortgage payments.
Calculation:
NOI - Mortgage Payments
Cap Rate (Market Value)
Capitalization Rate is a rate of return that compares the yearly Net Operating Income (NOI) to the market value.
Calculation:
NOI / Market Value
Cash-on-Cash Return (CoC)
Annual Cash Flow / Cash Invested
Calculation:
Annual cash flow divided by initial cash invested.
Debt Coverage Ratio (DCR)
Net Operating Income (NOI) divided by total debt payments.
Calculation:
NOI / Total Debt Payments
Internal Rate of Return (IRR)
A metric for assessing profitability over time. IRR is the discount rate at which the net present value (NPV) of all future cash flows (positive and negative) from an investment equals zero — including both periodic cash flow (such as rent) and a projected sale at the end of the holding period. It represents the expected annualized return, accounting for income, expenses, and the recovery of capital through a future sale.
Property Description
Tucked away on nearly 2 private acres in unincorporated Mokena, this picturesque 1.5-story home offers 3,100 square feet of beautifully designed living space, featuring 3-potentially 4-bedrooms and 3.5 baths. The main floor features an expansive open-concept layout that flows seamlessly from the grand foyer with its soaring cathedral ceiling, through the kitchen and dining area, into the inviting living room, and finally through elegant French doors into a stunning all-seasons sunroom. This space is a true highlight of the home, offering breathtaking views of the expansive deck-stretching nearly the entire length of the house-the charming 15' gazebo, and the sprawling backyard beyond, all framed by picture windows and three sets of sliding glass doors. A two-sided fireplace, adorned with a raised hearth and floor-to-ceiling limestone facade, creates a warm and stylish connection between the main living area and the sunroom. The kitchen is thoughtfully laid out with an efficient work triangle, seamlessly connecting the stove, sink, and refrigerator for easy meal prep. Just off the kitchen, you'll find a dedicated study-perfect for remote work, reading, or quiet focus. Throughout the home, you'll appreciate the mix of hardwood, wood laminate, and ceramic tile flooring that adds both beauty and durability. The gutter system is thoughtfully connected to a drain tile that runs underground to a ravine at the back of the property, supporting smart drainage across the lot. Rounding out the main floor is a spacious primary bedroom with an en suite bath and walk-in closet, along with two additional bonus rooms located directly adjacent. These flexible spaces could easily serve as an extension of the primary suite or, with minor modifications, be transformed into related living quarters, a craft room, or anything your lifestyle inspires. Upstairs you'll find two generously sized bedrooms conveniently connected by a shared bathroom perfectly situated for privacy and comfort. The walk-out basement offers even more potential, with a large unfinished space and some finishing work already started-ideal for creating a rec room, home gym, or extra living area. As if that weren't enough, you'll be wowed by the massive 32x40 outbuilding with 12' overhead doors, 220v electric, and a full second-story loft area-perfect for a workshop, hobby space, or additional storage. Both the home and barn feature new roofs and gutters in 2025, adding peace of mind for the new owners. Being offered as-is, but don't let that scare you-this home is move-in ready and mainly just needs a little fine tuning. Located in the highly sought-after Lincoln-Way School District, which has received numerous accolades across academics, arts, athletics, and community engagement, this home is the perfect secluded location you've been looking for-just a little off the beaten path, but still right at the heart of everything! All the amenities, entertainment, healthcare, and transportation you could need are nearby, including the Metra and Amtrak stations, I-355 and I-80 for easy commuting, and Silver Cross Hospital. Enjoy shopping and dining along the nearby Route 30 retail hub, home to favorites like Buffalo Wild Wings, Raising Cane's, Portillo's, Crumbl, and Nothing Bundt Cakes. Entertainment and recreation abound with nearby theaters, casinos, golf courses, sports complexes, and scenic nature preserves like Pilcher Park and the Morton Arboretum. You'll also find premier destinations like Ikea and The Promenade Bolingbrook-a massive 778,000-square-foot open-air shopping center-all within 10-30 minutes. And best of all, you're less than an hour from downtown Chicago. Welcome Home - your friends and family will be impressed!
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Location
Property Details
Parking
- Details: Asphalt, Gravel, Garage Door Opener, On Site, Attached, Garage
- Garage Spaces: 2
- Spaces Total: 2
Bedroom Information
- # of Bedrooms: 3
Bathroom Information
- # of Baths (Full): 3
- # of Baths (Total): 4.0
Interior Features
- # of Rooms: 9
- Basement: Yes
- Basement Description: Sump Pump, Unfinished, Crawl Space, Full, Walk-Out Access
- Fireplace: Yes
Exterior Features
- Foundation: Concrete Perimeter
- Roof Material: Asphalt
Land Information
- Land Use: Residential
- Land Use Subtype: Single Family Residential
Lot Information
- Parcel ID: 150802308022
- Lot Size: 0 sqft
Property Information
- Property Type: Single Family Residence
- Year Built: 1981
Tax Information
- Annual Tax: $10,576
Utilities
- Water & Sewer: Well
- Heating: Natural Gas, Forced Air, Radiant, Zoned, Radiant Floor
- Cooling: Ceiling Fan(s), Central Air
Location
- County: Will
Listing Details
Investment Summary
- Monthly Cash Flow
- -$1,552
- Cap Rate
- 2.3%
- Cash-on-Cash Return
- -14.7%
- Debt Coverage Ratio
- 0.40
- Internal Rate of Return (5 years)
- -10.2%
Cash Flow
Net Operating Income (NOI) minus mortgage payments.
Calculation:
NOI - Mortgage Payments
Cap Rate (Market Value)
Capitalization Rate is a rate of return that compares the yearly Net Operating Income (NOI) to the market value.
Calculation:
NOI / Market Value
Cash-on-Cash Return (CoC)
Annual Cash Flow / Cash Invested
Calculation:
Annual cash flow divided by initial cash invested.
Debt Coverage Ratio (DCR)
Net Operating Income (NOI) divided by total debt payments.
Calculation:
NOI / Total Debt Payments
Internal Rate of Return (IRR)
A metric for assessing profitability over time. IRR is the discount rate at which the net present value (NPV) of all future cash flows (positive and negative) from an investment equals zero — including both periodic cash flow (such as rent) and a projected sale at the end of the holding period. It represents the expected annualized return, accounting for income, expenses, and the recovery of capital through a future sale.
Purchase Details
Purchase PriceThe price paid for the property. Purchase price:
| $550,000 |
|---|---|
Amount FinancedThe amount of the purchase financed through a loan. Amount financed:
| -$440,000 |
Down paymentThe initial payment made towards the purchase. Down payment:
| $110,000 |
Closing CostsFees and expenses associated with purchasing a property, typically ranging from 2% to 5% of the home’s purchase price, paid at the end of a home purchase to cover services like lending, title transfer, and taxes. Closing costs:
| $16,500 |
Rehab CostsCosts incurred to repair or improve the property, including: roof, flooring, exterior siding, kitchen, exterior paint, bathrooms, etc. Rehab costs:
| $0 |
Initial Cash InvestedThe total initial cash invested in the property. Calculation:Down payment + Buying costs + Rehab costs Initial cash invested:
| $126,500 |
Square Feet (SQFT)The total square footage of the property. Square feet:
| 3,100 |
Cost Per Square FootCost per square foot of the property. Calculation:Purchase Price / Square Feet Cost per square foot:
| $177 |
Monthly Rent Per Square FootMonthly rent divided by the number of square feet. This ratio helps investors compare rental income efficiency across properties, markets, and unit sizes Calculation:Monthly Rent / Square Feet Monthly rent per square foot:
| $0.90 |
Financing Details
Loan AmountThe total sum of money borrowed from a lender to finance a property purchase. Calculation:Purchase Price - Down Payment
Loan amount:
| $440,000 |
|---|---|
Loan to Value Ratio (LTV)Loan amount divided by the market value of the property. Calculation:Loan Amount / Market Value
Loan to value ratio:
| 80.0% |
Loan TypeThe type of loan (e.g., fixed, adjustable).
Loan type:
| Amortizing |
TermThe loan repayment period in years.
Term:
| 30 years |
Interest RateThe percentage a lender charges on the borrowed amount of a loan, determining the cost of borrowing money.
Interest rate:
| 5.875% |
Principal & Interest (PI)The principal is the portion of the loan payment that reduces the loan balance. The interest is the lender's charge for borrowing money. Calculation:(P * r * (1 + r) ** n) / ((1 + r) ** n - 1) Where:
P = Loan amount (principal)
Principal & interest:
| $2,603 |
Property TaxesAnnual taxes levied by local governments on real estate properties. These taxes fund public services like schools, roads, and emergency services.
Property tax:
| $881 |
InsuranceThe costs for insurance coverage to protect against financial losses due to risks like fire, natural disasters, theft, liability, or tenant-related damages. Calculation:Assumes 7% of gross rental income, unless insurance rates are specified.
Insurance:
| $196 |
Private Mortgage Insurance (PMI)A fee that borrowers pay when they take out a conventional loan with a loan-to-value (LTV) ratio above 80%.
Private mortgage insurance (PMI):
| $0 |
Monthly PaymentThe fixed amount a borrower pays each month to repay a loan. It typically includes principal and interest (P&I) and may also cover property taxes, insurance, HOA fees, and PMI if escrowed. Monthly payment:
| $3,680 |
Operating Income
| % Rent | Monthly | Yearly | |
|---|---|---|---|
Gross RentThe total rental income received from tenants before deducting any expenses. Includes base rent, late fees, pet fees, parking fees, and other recurring charges.
Gross rent:
| $2,800 | $33,600 | |
Vacancy LossExpected loss of rent due to vacancies.
Vacancy loss:
(6%)
| 6% | -$168 | -$2,016 |
Operating IncomeGross rental income minus vacancy loss. Calculation:Gross rent - Vacancy loss
Operating income:
| $2,632 | $31,584 |
Operating Expenses
| % Rent | Monthly | Yearly | |
|---|---|---|---|
Property TaxesAnnual taxes levied by local governments on real estate properties. These taxes fund public services like schools, roads, and emergency services. | 31% | -$881 | -$10,577 |
InsuranceThe costs for insurance coverage to protect against financial losses due to risks like fire, natural disasters, theft, liability, or tenant-related damages. Calculation:Assumes 7% of gross rental income, unless insurance rates are specified. | 7% | -$196 | -$2,352 |
Property ManagementThe costs associated with hiring a property manager to handle the day-to-day operations of a rental property. Includes management fees, leasing fes, eviction fees, etc. Calculation:Assumes 8% of gross rental income. | 8% | -$224 | -$2,688 |
Repairs & MaintenanceOngoing costs for routine upkeep and minor fixes needed to keep a property in good working condition. Calculation:Assumes 5% of gross rental income. Varies by property age and condition. | 5% | -$140 | -$1,680 |
Capital ExpensesLarge, infrequent costs for major improvements or replacements, like a new roof, HVAC system, or appliances. Calculation:Assumes 5% of gross rental income. Varies by property age. | 5% | -$140 | -$1,680 |
HOA FeesRegular dues paid to a Homeowners Association for community maintenance, amenities, and management. Similar fees include: Condo Association Fees, Co-op Maintenance Fees, etc. | n/a | n/a | n/a |
Operating ExpensesRecurring costs required to maintain and manage a rental property, including property taxes, insurance, maintenance, repairs, utilities (if paid by the owner), property management fees, and other day-to-day expenses. Calculation:Insurance + Property Taxes + Property Management + Repairs & Maintenance + Capital Expenditures + HOA Fees | 56% | -$1,581 | -$18,977 |
Cash Flow
| Monthly | Yearly | |
|---|---|---|
Net Operating Income (NOI)The income generated from a property after deducting all operating expenses but before deducting mortgage payments, taxes, and capital expenditures. Calculation:Gross Operating Income - Operating Expenses
Net operating income:
| $1,051 | $12,612 |
Mortgage PaymentThe fixed amount a borrower pays each month to repay a loan. It typically includes principal and interest (P&I) and may also cover property taxes, insurance, HOA fees, and PMI if escrowed. | -$2,603 | -$31,236 |
Cash FlowNet Operating Income (NOI) minus mortgage payments. Calculation:NOI - Mortgage Payments | $1,552 | $18,624 |