2419 Lake Ave · Wilmette, IL 60091

$499,000

4 bd · 2.0 ba · 1,967 sqft · SingleFamily public records · 2 Days on market

Built 1968 7,840 sqft lot

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Why this score? — see what drove the C- grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +18.3/30.0
• Schools +7.7/10.0
• ARV discount +7.5/15.0
• DSCR +5.8/10.0
• 1% rule +4.9/10.0
• Livability +4.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Exceptional opportunity in sought-after Wilmette! Situated on a generous lot in a prime location, this 4-bedroom, 2.5 -bath home offers endless potential for renovation or new construction. All four bedrooms are conveniently located on the second level, including a primary suite with a private bath and walk in closet. The main level features a spacious family room, large living and dining areas, and great natural light throughout. For buyers looking to create their dream home, this property provides a rare chance to update, expand, or start fresh. Additional features include an unfinished sub-basement offering abundant storage and future possibilities. Mature landscaping and an expansive ya

Key facts

• Generous lot
• Expansive yard
• Primary suite

Tags

• GENEROUS LOT
• PRIME LOCATION
• PRIMARY SUITE
• UNFINISHED SUB-BASEMENT
• MATURE LANDSCAPING
• EXPANSIVE YARD

Property features AI

Exterior

• Parking: Garage
• Home design: Single-family home
• Exterior features: Private balcony

Interior

• Bedrooms: 4 bedrooms
• Bathrooms: 2.5 bathrooms
• Heating & cooling: Air conditioning
• Interior features: Private balcony
• Laundry & utility: Washer and dryer included

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $499k.

Deal economics

• At list price, monthly cash flow is $460 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $495k (0.8% below list).
• Recommended offer: $495k (0.8% below list) — sets the bar for 1% rule.
• Cap rate 7.4% vs local median 2.0% in Wilmette — 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.

Location & tenants

• Location reads 83/100 on livability (#43 in IL, #892 nationally) — a professional / high-income tenant draw. Strengths: schools A+, crime A+, commute A+; Watch: cost of living F.
• New Trier Twp Hsd 203 (suburban): math 76% / reading 80% proficiency, ranked #2 of 620 in IL (top 0%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Market conditions: 80 active listings in the ZIP; 12 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); high-income renter base; 6,272 units permitted in Cook County in 2024 (4,658 in 5+ unit buildings).
• This rent runs 31% of the median local income ($190k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $15k of value loss. Plan a longer hold.

Negotiation context

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.

Recommended offer $494,762 (0.8% below list)

Questions for the listing agent

1. Built in 1968 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are A-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?
4. 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.
5. 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.
6. 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.

Investment metrics

• 1% rule: 0.99% ✗
• Cap rate: 7.40%
• Cash-on-cash: 3.95%
• DSCR: 1.18
• GRM: 8.4

CMA / ARV

• ARV (on-the-fly): $1,164,464
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
912 Hunter Rd	0.20mi	4/2.0	1,807 (-8%)	0mo	$1,200,000	$664	77
2403 Lake Ave	0.03mi	4/3.0	2,100 (+7%)	15mo	$825,000	$393	71
2407 Iroquois Rd	0.11mi	3/2.0 (-1)	2,196 (+12%)	0mo	$1,605,000	$731	70
1213 Dartmouth St	0.43mi	4/2.0	1,800 (-8%)	1mo	$1,220,000	$678	65
2133 Birchwood Ave	0.38mi	4/2.5	2,114 (+8%)	11mo	$1,365,000	$646	58
2237 Thornwood Ave	0.40mi	3/2.5 (-1)	2,187 (+11%)	3mo	$1,351,000	$618	54
246 Vista Ct	0.69mi	4/2.5	1,796 (-9%)	2mo	$692,500	$386	50
2038 Highland Ave	0.53mi	4/2.5	1,691 (-14%)	1mo	$965,000	$571	49
2740 Orchard Ln	0.43mi	4/2.5	1,673 (-15%)	6mo	$675,000	$403	48
2013 Highland Ave	0.60mi	4/3.5	2,200 (+12%)	3mo	$1,300,000	$591	44
839 Chilton Ln	0.69mi	4/2.5	2,209 (+12%)	6mo	$856,000	$388	40
2100 Beechwood Ave	0.70mi	3/2.5 (-1)	2,152 (+9%)	12mo	$1,275,000	$592	34

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -10.1%
• Equity multiple: 0.63×
• Total profit: $-51,478
• Equity at exit: $74,403

10-year hold

• IRR: -0.7%
• Equity multiple: 0.95×
• Total profit: $-6,786
• Equity at exit: $43,144

Cash invested: $139,720 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 43 Moderately Tenant-Leaning
• State Illinois: 43 Moderately Tenant-Leaning · D+7
• County: — inherits STATE
• City: — inherits STATE

Chicago RTLO is among the strongest tenant ordinances in the Midwest; downstate is more landlord-friendly.

Methodology + full state rankings →

ZIP-level market 60091

• Active inventory: 80
• Price-to-rent: 8.4×

Monthly cashflow live

• Estimated rent: $4,948 high
• Mortgage (P&I): −$2,617
• Tax est. 1.5%: −$624 /mo · $7,485/yr
• Insurance: −$208
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,039
• Net cashflow: $460

Break-even live

Break-even rent $4,365

Max offer price $499,000

Occupancy floor 86%

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $124,750
• Closing costs: $14,970
• Reserves months: —
• Total cash needed: —

Rent comps 12 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
460 Highcrest Dr Wilmette, IL	3.0	2.0	1750	$5,175	$2.96	1d	1	0.45mi
2036 Lake Ave Wilmette, IL	3.0	2.0	1600	$3,850	$2.41	2d	1	0.47mi
1120 Romona Rd Wilmette, IL	4.0	3.5	2300	$6,800	$2.96	22d	1	0.61mi
1110 Ridge Rd Wilmette, IL	4.0	2.0	2000	$5,500	$2.75	4d	1	0.74mi
3115 Lake Ave Unit 3119-ER Wilmette, IL	3.0	2.5	1646	$4,147	$2.52	19d	1	0.85mi
3119 Lake Ave Unit E Wilmette, IL	3.0	2.5	1458	$4,147	$2.84	25d	1	0.86mi
237 Sunset Dr Unit NA Wilmette, IL	4.0	2.0	1608	$4,500	$2.80	25d	1	0.90mi
651 Brier St Kenilworth, IL	3.0	2.5	2335	$6,200	$2.66	20d	1	1.09mi
1428 Wilmette Ave Unit 1 Wilmette, IL	3.0	2.0	1500	$3,800	$2.53	3d	1	1.27mi
614 Leamington Ave Wilmette, IL	3.0	2.0	1600	$3,200	$2.00	25d	1	1.27mi
716 Laramie Ave Wilmette, IL	3.0	2.0	2100	$4,200	$2.00	25d	1	1.31mi
704 Laramie Ave Wilmette, IL	4.0	2.0	1502	$3,950	$2.63	25d	1	1.31mi

Listing history 6 events

1. 2026-06-18
   days on market $499,000 Active 2 DOM
2. 2026-06-17
   remarks 699-char remark
3. 2026-06-17
   statusdays on marketlisting id $499,000 Active 1 DOM
4. 2026-06-16
   days on market $499,000 Coming Soon 4 DOM
5. 2026-06-15
   days on market $499,000 Coming Soon 3 DOM
6. 2026-06-13
   listed $499,000 Coming Soon 1 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $59,371
• − Mortgage interest: −$27,952
• − Property taxes: −$7,485
• − Insurance: −$2,495
• − Repairs & maintenance: −$4,750
• − Management: −$4,750
• − Depreciation: −$14,516
• Taxable loss: −$2,576
• Est. tax savings @ 24.0%: +$618
• After-tax cash flow: $6,140/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: New Trier Twp Hsd 203
• NCES district ID: 1728200
• Math proficiency: 76% ▼ -4.00%
• Reading proficiency: 80% ▼ -1.00%
• Median HH income: $164,521
• Composite: 76.94/100
• National rank: #103
• State rank: #2 of 620 in IL

Livability — Wilmette

• Score: 83/100
• State rank: #43
• US rank: #892

Category grades

Amenities B- Commute A+ Cost of living F Crime A+ Employment A+ Housing A+ Health & safety C+ User ratings A+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Wilmette, IL
• County: Cook County · 4,486,803 people
• City population: 27,333
• Metro: Chicago-Naperville-Elgin, IL-IN-WI
• Population (ZIP): 27,333
• Household income: $189,909
• Rent vs Own: 12.1% rent · 87.9% own
• Severe rent burden: 317.0

Population outlook (Cook County) Hauer SSP2

• Today (2025): 5,347,519 people
• By 2030: 5,357,703 · +0.2%
• By 2040: 5,324,924 · -0.4%
• By 2050: 5,230,762 · -2.2%
• By 2075: 4,785,735 · -10.5%
• By 2100: 4,188,836 · -21.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (78%)
• Race & ethnicity: White 78% Asian 12% Two or more races 5% Hispanic / Latino 5%
• Hispanic origin (detail): Mexican 2%
• Common ancestry: Romanian 7% Scotch-Irish 4% Italian 3%
• Foreign-born: 16% · China, Canada, South Korea
• Languages at home: 80% English-only · Chinese 5% Russian/Polish/Slavic 3% Other Indo-European 3%

Political lean MEDSL · Cook

• 2024 margin: Solid D (+42.0) · D 70.4% · R 28.4% · Other 1.2%
• 2008→2024 swing: -11.4pp toward R · 2008: 53.4pp · 2024: 42.0pp
• All cycles: 2024: D+42.0 2020: D+50.3 2016: D+53.0 2012: D+49.4 2008: D+53.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -420.87%
• Current HPI: 188.5259
• Rent YoY: —
• Metro: Chicago-Naperville-Elgin, IL-IN-WI
• State GDP YoY: ▲ 1.59%
• F500 in state: 60

Industry mix (Fortune 500 HQ in IL)

Industry	F500 HQs	Revenue
▸Insurance	4	$201B
▸Consumer Goods	4	$87B
▸Industrial Machinery	3	$64B
▸Healthcare	2	$55B
▸Retail / Pharmacy	1	$148B
▸Agriculture / Food	1	$86B