18322 Wildwood Ave, Lansing IL 60438

18322 Wildwood Ave, Lansing, IL 60438

Singlefamily: 3 bedrooms , 1 bathroom

Year built: 1949, Size: 1209 SF

Investment strategy: Rental Property

Purchase Price$ 229,900

Rent$ 2,200/mo

Monthly Cash Flow$ 315

Cash on Cash Return6.69 %

Financial Analysis

Cash on Cash Return	6.69 %
Internal Rate of Return (IRR)	12.91 %
Capitalization Rate	8.65 %
Gross Rent Multiplier (GRM)	8.90
Debt-coverage Ratio (DCR)	1.23
Operating Expense Ratio (OER)	20.70 %
After Repair Value	$ 234,900

Financial Breakdown

Purchase Price	$ 229,900
Purchase Costs	$ 9,508
Repair/Construction Costs	$ 5,000
Total Capital Needed Total Capital Needed Includes all projects costs (except selling costs). Total Capital Needed Includes all projects costs (except selling costs).	$ 244,408
Financing	$ 187,920
Total Cash Needed Cash out of Pocket Shows rehabber's cash outlay. Cash out of Pocket Shows rehabber's cash outlay.	$ 56,488
Cash at Closing Cash at Closing This number includes down payment and loan points. Cash at Closing This number includes down payment and loan points.	$ 50,738
Cash During Rehab Cash During Rehab Shows the cash amount remaining to fund the purchase and rehab/construction. Cash During Rehab Shows the cash amount remaining to fund the purchase and rehab/construction.	$ 5,750

Operating Analysis

Rent	$ 2,200/mo
Gross Operating Income (GOI)	$ 25,608
Total Expenses	$ 5,300
Net Operating Income (NOI)	$ 20,308
Annual Debt Service	$ 16,531
Cash Flow Before Taxes (CFBT)	$ 3,777
Income Tax Liability	$ -335
Cash Flow After Taxes (CFAT)	$ 4,112

Updated Ranch in Lansing- Welcome Home! Beautiful new Kitchen with all soft closing cabinets/drawers, Quartz countertops and all new stainless-steel appliances! Refinished hardwood floors, popular LVT flooring, carpet and freshly painted throughout. Brand new roof and HVAC. Basement. Garage. This is a must see! Close to all accommodations including schools, parks, shops, restaurants and more! Not for rent or lease.

Purchase Price	$ 229,900
Address	18322 Wildwood Ave , Lansing, 60438, IL
MLS^® #	12255345
Listing Agent	Christopher A Lobrillo
Year Built	1949
Type	Singlefamily
Size	1209 SF
Bedrooms	3
Bathrooms	1

Property History

Date	Price	Event
2/5/2025	229900	Price Changed
1/28/2025	239900	Price Changed
1/14/2025	244900	Price Changed
12/12/2024	249900	Listed
8/26/2024	120000	Sold

Annual Property Operating Data

Incomes		% of GOI
Gross Scheduled Income Gross Scheduled Income (GSI) Represents the total of monthly rents for the particular property, including the potential rents from vacant units and uncollectable rents. Gross Scheduled Income (GSI) Represents the total of monthly rents for the particular property, including the potential rents from vacant units and uncollectable rents.	$ 26,400
Total Gross Income	$ 26,400
Vacancy loss Vacancy and Credit Loss Part of the potential rental income that is lost because of unoccupied units or uncollectable rent from tenants. Vacancy and Credit Loss Part of the potential rental income that is lost because of unoccupied units or uncollectable rent from tenants.	$ 792
Gross Operating Income Gross Operating Income (GOI) An actual income which is expected to be collected in the property. Gross Operating Income (GOI) An actual income which is expected to be collected in the property.	$ 25,608	100.00 %
Expenses Operating Expenses Expenses necessary for maintaining the property and ensuring its continued ability to produce income (doesn't include mortgage payments or depreciation). Operating Expenses Expenses necessary for maintaining the property and ensuring its continued ability to produce income (doesn't include mortgage payments or depreciation).
Insurance	$ 1,500	5.86 %
Property tax	$ 3,800	14.84 %
Total Expenses	$ 5,300	20.70 %
Net Operating Income Net Operating Income (NOI) Important measurement calculated as gross operating income minus operating expenses. Net Operating Income (NOI) Important measurement calculated as gross operating income minus operating expenses.	$ 20,308	79.30 %

Cash Flow (Year 1)

Net Operating Income	$ 20,308	79.30 %
Annual Debt Service	$ 16,531	64.55 %
Cash Flow Before Taxes (CFBT) Cash Flow All the inflows and outflows of cash for a certain property (including mortgage payments). We can calculate cash flow before taxes (CFBT) or cash flow after taxes (CFAT) which is CFBT minus any tax liability arising from the operation of the property. Cash Flow All the inflows and outflows of cash for a certain property (including mortgage payments). We can calculate cash flow before taxes (CFBT) or cash flow after taxes (CFAT) which is CFBT minus any tax liability arising from the operation of the property.	$ 3,777	14.75 %
Income Tax Liability	$ -335	-1.31 %
Cash Flow After Taxes (CFAT) Cash Flow All the inflows and outflows of cash (including mortgage payments). We can calculate cash flow before taxes (CFBT) or cash flow after taxes (CFAT) which is CFBT minus any tax liability arising from the operation of the property. Cash Flow All the inflows and outflows of cash (including mortgage payments). We can calculate cash flow before taxes (CFBT) or cash flow after taxes (CFAT) which is CFBT minus any tax liability arising from the operation of the property.	$ 4,112	16.06 %

Operating Ratios

Operating Expense Ratio Operating Expense Ratio Ratio of the operating expenses to the gross operating income (GOI). Operating Expense Ratio Ratio of the operating expenses to the gross operating income (GOI).	20.70 %
Break-Even Ratio Break-Even Ratio (BER) Another benchmark used by mortgage lenders, estimating how vulnerable is a certain property to defaulting on its mortgage if part of the rental income is declined. Most of the lenders are looking for BER of 85% or less. Break-Even Ratio (BER) Another benchmark used by mortgage lenders, estimating how vulnerable is a certain property to defaulting on its mortgage if part of the rental income is declined. Most of the lenders are looking for BER of 85% or less.	85.25 %

Financial Measures

Net Present Value Net Present Value (NPV) Probably the best measure of any investment thanks to its complexity; taking into account all future cash flows including the selling price, and it converts all these amounts to their present values using discount rate required by the investor. More information and an example on the blog. Net Present Value (NPV) Probably the best measure of any investment thanks to its complexity; taking into account all future cash flows including the selling price, and it converts all these amounts to their present values using discount rate required by the investor. More information and an example on the blog.	$ 148,427
Internal Rate of Return Internal Rate of Return (IRR) Rate which an investment will return over the estimated period of ownership. It is in fact the discount rate that produces NPV of zero. Internal Rate of Return (IRR) Rate which an investment will return over the estimated period of ownership. It is in fact the discount rate that produces NPV of zero.	12.91 %
Profitability Index Profitability Index Similar to NPV, also calculates with the present values of future cash flows and discount rate. It shows whether the present value of the cash flows is worth the initial investment. Good investment should be above 1.0 Profitability Index Similar to NPV, also calculates with the present values of future cash flows and discount rate. It shows whether the present value of the cash flows is worth the initial investment. Good investment should be above 1.0	3.63
Annual Depreciation	$ 6,688

Holding period of 30 years and discount rate of 5.00% were used for calculation of NPV and IRR. The rest of the financial measures are for the 1st year only and therefore don't provide such an exact information.

Investment Return Ratios

Cash on Cash Return Cash on Cash Return Ratio between annual cash flow before taxes and the total initial investment, expressed as a percentage. It does not take in account the future value of money. Cash on Cash Return Ratio between annual cash flow before taxes and the total initial investment, expressed as a percentage. It does not take in account the future value of money.	6.69 %
Return on Investment Return on Investment Very similar to Cash on Cash Return, but also takes in account appreciation of the property in the first year. Return on Investment Very similar to Cash on Cash Return, but also takes in account appreciation of the property in the first year.	18.90 %
Capitalization Rate Capitalization Rate Calculated as ratio of the net operating income and the value of the property. Capitalization Rate Calculated as ratio of the net operating income and the value of the property.	8.65 %
Gross Rental Yield Gross Rental Yield Used for a particular property or also as a market indicator when using median values of rent and house prices - counted from gross scheduled rent and initial investment. Gross Rental Yield Used for a particular property or also as a market indicator when using median values of rent and house prices - counted from gross scheduled rent and initial investment.	11.48 %
Gross Rent Multiplier Gross Rent Multiplier (GRM) Counted as a ratio of market value of the property and gross scheduled income. Gross Rent Multiplier (GRM) Counted as a ratio of market value of the property and gross scheduled income.	8.90

Financing		% of ARV
Down Payment	$ 46,980	20.00 %
HomeStyle	$ 187,920	80.00 %
Loan to Value Ratio Loan to Value Ratio Shows sum of all purchase and rehab loans divided by purchase price. Loan to Value Ratio Shows sum of all purchase and rehab loans divided by purchase price.		81.74 %
Loan to Cost Ratio Loan to Cost Ratio Shows sum of all purchase and rehab loans to construction cost (purchase price + repairs). Loan to Cost Ratio Shows sum of all purchase and rehab loans to construction cost (purchase price + repairs).		80.00 %
Debt Coverage Ratio		1.23

HomeStyle Financing of: Purchase + Repairs ($ 234,900)
Type	Amortized
Loan Amount	$ 187,920
Down payment (20%)	$ 46,980
Amortization	30 years
Interest Rate	7.99 %
Monthly Payment	$ 1,377.58

This chart shows the process of accumulation of investor's equity. There is some equity created right at the beginning with the rehab/construction and later investor's equity is rising by paying off the principal of the loan and also by appreciation over the years. All the green parts is the cummulative equity belonging to the investor and the red part belongs to the lender.

Year	0	1	2	3	4	5	6	7	8	9	10	11	12	13	14	15	16	17	18	19	20	21	22	23	24	25	26	27	28	29	30
Operational Analysis
Gross Scheduled Income	0	26,400	26,928	27,467	28,016	28,576	29,148	29,731	30,325	30,932	31,550	32,181	32,825	33,482	34,151	34,834	35,531	36,242	36,966	37,706	38,460	39,229	40,014	40,814	41,630	42,463	43,312	44,178	45,062	45,963	46,882
Vacancy Loss	0	792	808	824	840	857	874	892	910	928	947	965	985	1,004	1,025	1,045	1,066	1,087	1,109	1,131	1,154	1,177	1,200	1,224	1,249	1,274	1,299	1,325	1,352	1,379	1,407
Gross Operating Income	0	25,608	26,120	26,643	27,175	27,719	28,273	28,839	29,416	30,004	30,604	31,216	31,840	32,477	33,127	33,789	34,465	35,154	35,857	36,574	37,306	38,052	38,813	39,589	40,381	41,189	42,013	42,853	43,710	44,584	45,476
Expenses	0	5,300	5,406	5,514	5,624	5,737	5,852	5,969	6,088	6,210	6,334	6,461	6,590	6,722	6,856	6,993	7,133	7,276	7,421	7,570	7,721	7,876	8,033	8,194	8,358	8,525	8,695	8,869	9,046	9,227	9,412
Net Operating Income	0	20,308	20,714	21,128	21,551	21,982	22,422	22,870	23,327	23,794	24,270	24,755	25,250	25,755	26,271	26,796	27,332	27,879	28,436	29,005	29,585	30,177	30,780	31,396	32,024	32,664	33,317	33,984	34,663	35,357	36,064
Loan Payment	0	16,531	16,531	16,531	16,531	16,531	16,531	16,531	16,531	16,531	16,531	16,531	16,531	16,531	16,531	16,531	16,531	16,531	16,531	16,531	16,531	16,531	16,531	16,531	16,531	16,531	16,531	16,531	16,531	16,531	16,531
Payment Interest Part	0	14,958	14,828	14,686	14,534	14,368	14,189	13,995	13,784	13,557	13,310	13,043	12,754	12,441	12,102	11,735	11,337	10,907	10,440	9,936	9,389	8,797	8,156	7,461	6,710	5,896	5,014	4,059	3,026	1,906	694
Payment Principal Part	0	1,573	1,703	1,845	1,997	2,163	2,342	2,536	2,747	2,974	3,221	3,488	3,777	4,090	4,429	4,796	5,194	5,624	6,091	6,595	7,142	7,734	8,375	9,069	9,821	10,635	11,517	12,472	13,505	14,625	15,837
Cash Flow
Repairs/Construction	5,000	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Cash Flow Before Taxes	-56,488	3,777	4,183	4,597	5,020	5,451	5,891	6,339	6,797	7,263	7,739	8,224	8,719	9,224	9,740	10,265	10,801	11,348	11,905	12,474	13,054	13,646	14,249	14,865	15,493	16,133	16,786	17,453	18,132	18,826	19,533
Depreciation	0	6,688	6,688	6,688	6,688	6,688	6,688	6,688	6,688	6,688	6,688	6,688	6,688	6,688	6,688	6,688	6,688	6,688	6,688	6,688	6,688	6,688	6,688	6,688	6,688	6,688	6,688	6,688	6,688	6,688	6,688
Taxes	0	-335	-200	-62	82	232	386	547	714	887	1,068	1,256	1,452	1,657	1,870	2,093	2,327	2,571	2,827	3,095	3,377	3,673	3,984	4,312	4,656	5,020	5,404	5,809	6,237	6,691	7,171
Cash Flow After Taxes	-56,488	4,112	4,384	4,659	4,938	5,220	5,504	5,792	6,083	6,376	6,671	6,968	7,267	7,568	7,869	8,172	8,474	8,777	9,078	9,379	9,677	9,973	10,265	10,553	10,836	11,113	11,383	11,644	11,895	12,135	12,362

Note: All amounts in the table above are in $

Resale Price Evaluation Methods

The property is sold after 30 years. Below is the resale price calculated using different methods.

Capitalization (8.65%) & NOI	$ 416,923
Appreciation (3.00%)	$ 570,164
Gross Rent Multiplier	$ 417,252

Sale Proceeds

Projected Selling Price	$ 416,923
Costs of Sale (3.50%)	$ 14,592
Net Sale Proceeds Before Tax	$ 402,331

In the resale analysis we do not include any calculation for taxes that might be owed on sale of the property. The tax laws for the resale are rather complex and subjected to frequent changes.

Net Assets and Yield

Net Assets
Sale Proceeds Before Tax	$ 402,331
Investor Cash Outlay	$ 56,488
Net Assets	$ 345,843
Average Yield
Annual Net Assets	$ 11,528
Average Cash Flow (After Taxes)	$ 7,892
Average Annual Gain (After Taxes)	$ 19,420
Average Annual Yield (After Taxes)	8.45 %

This charts shows Net Present Value (NPV) when property is sold in various years, i.e. when sold in 5th year, the NPV is calculated from 5 years of Cash Flow (including the selling price) and this NPV is displayed in year 5. Optimal holding period can be estimated, using this method - when NPV is the highest. Please note that appreciation growth can change these numbers greatly. It sometimes makes sense to sell the property even before the end of the mortgage term.

Property Report: 18322 Wildwood Ave, Lansing RENTAL

Property Report :

18322 Wildwood Ave, Lansing, IL 60438

Executive Summary