First Floor Condo with
For Sale
$227,000
17960 Royal Oak Court #1N Tinley, Tinley Park, IL 60477
Two-bedroom condo with garage, in-unit laundry, and updated features.
Property Size1,100 SF
Price / SF$206.36
Days on Market356
Property Features for 17960 Royal Oak Court #1N Tinley
General Information
Standard status
Active
Size
1,100 SF
Property subtype
Condominium
Amenities
Natural Gas
Central Air
Forced Air
Range
Microwave
Dishwasher
Refrigerator
Washer
Dryer
Disposal
Water Purifier
Deck
Building Details
Building Size
1,100 SF
Year Built
1990
Listing Agency:
Century 21 Circle
(708) 307-9761
Listed By:
Mark Vaccaro · License #471021485
Source:
Kw
Added: Aug 19, 2025
Changed: Aug 8
Last Checked: Aug 9 at 12:56PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Century 21 Circle
Investment Insights
Based on property information with market context.
This first-floor condo features two bedrooms and one and a half bathrooms. It includes a one-car garage and an assigned parking space. In-unit laundry is available. Hardwood flooring extends throughout the living areas, dining room, hallway, and both bedrooms. The spacious kitchen offers ample room for a table and includes a movable kitchen cart. Flexicore construction minimizes noise from neighbors. Recent updates include a washer, dishwasher, and balcony carpeting in '23; a dryer in '22; and kitchen countertops, sink, faucet, and water filter in '21. A new furnace, garage door opener, and ice maker were installed in '19. The property benefits from low property taxes and a low monthly HOA fee, which covers the pool, clubhouse, exterior maintenance, landscape, lawn care, and garbage services. The spacious balcony faces east, providing morning sun.
Key Highlights
- First floor unit with 1‑car garage plus assigned space.
- Low property taxes and low monthly HOA fee.
- Hardwood flooring throughout living areas and bedrooms.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$12,761
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.62%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$255,220
$255.2K
Cap Rate 7%
$182,300
$182.3K
Cap Rate 9%
$141,789
$141.8K
Market Conditions
NOI Build-Up for 1,100 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$24.9K $22.68/SF
− Vacancy
−$1.7K −$1.59/SF
EGI
$23.2K $21.09/SF
− OpEx
−$10.4K −$9.49/SF
NOI
$12.8K $11.60/SF
Area
Cook County, IL
Vacancy
7.00%
Lease Rate
$22.68 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$255,220
Cap Rate 7%
$182,300
Cap Rate 9%
$141,789
Alternative Uses
Best Use
Apartment 5plus
$182.3K
$159.5K – $212.7K
NOI $12,761 @ 7.0% cap · market cap 5.62%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$379.8K
$332.3K – $443.1K
NOI $26,585 @ 7.0% cap · market cap 11.71%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
574
Businesses Nearby
Explore this area
Business Placement
Demographics for 60477, IL
37,335
Population
16,261
Households
2.3
Avg Household Size
43
Median Age
34%
College-Educated
95%
High-School Grad
14.2 sq mi
ZIP Area
2,629
Density / Sq Mi
$93,862
Median Household Income
$57,381
Median Earnings
$1,485
Median Rent
$262,400
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Two-bedroom condo with garage, in-unit laundry, and updated features.
Where is this apartment building located?
The property is located at 17960 Royal Oak Court #1N Tinley Tinley Park, IL.
What is the asking price?
The asking price for this property is $227,000.
What are key features of this property?
This property features: First floor unit with 1‑car garage plus assigned space.; Low property taxes and low monthly HOA fee.; Hardwood flooring throughout living areas and bedrooms.
