1 / 20Markham, IL 60428
NOI is before debt service. Financed, subtract the mortgage payment to get cash flow. The 50% expense rule is a screening assumption, not an operating budget — a buyer should underwrite actual taxes, insurance and management for this specific property.
The house rented at this number in its current condition, so the rent side of the underwriting is history rather than a forecast. It comes to you empty, which means a buyer can turn it, re-list it and set the new rent themselves instead of inheriting a lease and a tenant they did not screen.
Four closed sales inside a few blocks bracket this house between $215,000 and $245,000, and every one of them settled — there is not an asking price in the set. 16607 Winchester is the tightest read: three bedrooms, two baths and the same thousand square feet, closed at $226,000 this year. On this block, 16544 Marshfield sits on the same 6,600 square foot lot with the same detached two-car garage, and came back finished at $245,000 eight months after trading distressed at $115,000. 16341 Justine closed at $239,000 off a 2025 remodel, and 281 E 163rd in Harvey settled at $215,000 in June with five bedrooms and more square footage than this house — the floor of the range rather than the ceiling. A $230,000 resale sits in the middle of that band, not at the top of it. The rent side needs no forecast at all — the house collected $1,700 a month in the condition you are seeing it in.
Estimated finish budget: $10,000 depending on contractor.
