39101 N Walnut St · Lake Villa, IL 60046

$235,000

3 bd · 1.0 ba · 1,240 sqft · SingleFamily public records · 14 Days on market

Built 1940 9,583 sqft lot $190/sqft · at area comps Est $237k · at est.

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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 +18.7/30.0
• ARV discount +7.9/15.0
• DSCR +5.9/10.0
• 1% rule +5.7/10.0
• Livability +4.2/5.0
• Schools +3.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

NEW MOUND SEPTIC BEING INSTALLED PRIOR TO CLOSING. Permits already pulled. Closing to be August 2nd or later. Charming 3-bedroom, 1-bath home in Lake Villa offering great space and value! The main level features an XL living room, kitchen, laundry area, and a convenient main-floor bedroom or office (no closet). Upstairs you'll find two very large bedrooms plus a spacious storage closet. Situated on an oversized lot with an 8x10 shed with electric-perfect for storage or hobbies. Recent updates include a remodeled bathroom with new subfloor, flooring, toilet, and shower surround, new flooring upstairs (2026), new vapor barrier in crawl space (2023), water heater (2025), siding (approx. 2007),

Key facts

• Remodeled bathroom
• Water heater
• New mound septic

Tags

• NEW MOUND SEPTIC
• OVERSIZED LOT
• 8X10 SHED
• REMODELED BATHROOM
• NEW VAPOR BARRIER
• WATER HEATER

Property features AI

Finance

• Other: Property is not currently leased; Possession at closing
• HOA & community: No master association fee required

Exterior

• Parking: Space for 6 vehicles; Gravel driveway (owned)
• Utilities: Well water; Septic sewer
• Home design: Detached single-family home; 2 stories; Fee simple ownership; Built before 1978
• Construction: Vinyl siding; Asphalt roof; Estimated age 81–90 years
• Exterior features: Lot dimensions approximately 60 x 160; Lot less than 0.25 acre

Interior

• Kitchen: Kitchen (9 x 14); Refrigerator
• Bedrooms: 3 bedrooms; Master bedroom on the second level (10 x 17); Bedroom on the second level (9 x 19); Bedroom on the main level (9 x 12)
• Bathrooms: 1 full bathroom
• Heating & cooling: Natural gas heating; Forced air
• Interior features: 5 total rooms; Crawl space basement
• Laundry & utility: Laundry room on main level (8 x 8); In-unit laundry with gas dryer hookup and laundry closet; Washer; Dryer

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $235k.

Deal economics

• At list price, monthly cash flow is $232 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $235k).
• Cap rate 7.5% vs local median 3.2% in Lake Villa — 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 (#42 in IL, #889 nationally) — a professional / high-income tenant draw. Strengths: crime A+, employment A+, housing A+; Watch: amenities F, commute D-.
• Chsd 117 (suburban): math 36% / reading 40% proficiency, ranked #135 of 620 in IL (top 22%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 89 active listings in the ZIP; 1 comparable units currently listed for rent nearby; high-income renter base; 948 units permitted in Lake County in 2024 (424 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Lake County population projected to shrink 8% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $42k; list at $235k implies a 460% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $235,000

Questions for the listing agent

1. Built in 1940 — 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 B-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: 1.07% ✓
• Cap rate: 7.48%
• Cash-on-cash: 4.24%
• DSCR: 1.19
• GRM: 7.8

CMA / ARV

• ARV (median comp): $236,942
• List price: $235,000
• Delta: -11.37%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
21911 W Linden Ave	0.09mi	3/1.5	1,188 (-4%)	20mo	$275,000	$231	71
21621 W Cedar Ave	0.44mi	3/2.0	1,374 (+11%)	6mo	$235,000	$171	52
21594 W Pine St	0.40mi	3/2.0	1,394 (+12%)	20mo	$285,000	$204	40

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: -9.6%
• Equity multiple: 0.65×
• Total profit: $-23,170
• Equity at exit: $35,039

10-year hold

• IRR: -0.1%
• Equity multiple: 0.99×
• Total profit: $-660
• Equity at exit: $20,319

Cash invested: $65,800 (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 60046

• Active inventory: 89
• Price-to-rent: 7.8×

Monthly cashflow live

• Estimated rent: $2,507 medium
• Mortgage (P&I): −$1,232
• Tax from tax record: −$418 /mo · $5,012/yr
• Insurance: −$98
• HOA: −$0
• Vacancy / Maint / Mgmt: −$526
• Net cashflow: $232

Break-even live

Break-even rent $2,213

Max offer price $235,000

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: $58,750
• Closing costs: $7,050
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
851 Sanctuary Dr Lake Villa, IL	2.0	1.0–2.0	1218	$2,010	$1.65	1d	3	1.27mi

Listing history 20 events

1. 2026-06-18
   days on market $235,000 Active 14 DOM
2. 2026-06-17
   days on market $235,000 Active 13 DOM
3. 2026-06-16
   days on market $235,000 Active 12 DOM
4. 2026-06-15
   days on market $235,000 Active 11 DOM
5. 2026-06-13
   days on market $235,000 Active 9 DOM
6. 2026-06-13
   days on market $235,000 Active 8 DOM
7. 2026-06-09
   days on market $235,000 Active 5 DOM
8. 2026-06-08
   days on market $235,000 Active 4 DOM
9. 2026-06-07
   remarks 699-char remark
10. 2026-06-07
    pricestatusdays on marketlisting id $235,000 Active 3 DOM
11. 2026-06-03
    days on market $210,000 Contingent - Continue to Show 40 DOM
12. 2026-06-02
    days on market $210,000 Contingent - Continue to Show 39 DOM
13. 2026-06-01
    days on market $210,000 Contingent - Continue to Show 38 DOM
14. 2026-05-31
    days on market $210,000 Contingent - Continue to Show 37 DOM
15. 2026-05-06
    historical Contingent - Continue to Show 618-char remark
16. 2026-04-24
    listed $210,000 Active 618-char remark
17. 2026-04-02
    historical Contingent - Continue to Show
18. 2026-04-01
    historical
19. 2026-03-30
    listed Active
20. 1985-11-01
    soldstatus $42,000

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

Tax reassessment forecast IL · Partial reset (capped growth)

• Current annual tax: $5,012 · $418/mo
• Projected year-2 tax: $5,173 · $431/mo
• Expected delta: +$161/yr (+$13/mo · 3.2%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥101°F today · 14 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $30,080
• − Mortgage interest: −$13,164
• − Property taxes: −$5,012
• − Insurance: −$1,175
• − Repairs & maintenance: −$2,406
• − Management: −$2,406
• − Depreciation: −$6,836
• Taxable loss: −$920
• Est. tax savings @ 24.0%: +$221
• After-tax cash flow: $3,009/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: Chsd 117
• NCES district ID: 1703870
• Math proficiency: 36% ▼ -8.00%
• Reading proficiency: 40% ▼ -4.00%
• Median HH income: $80,993
• Composite: 35.79/100
• National rank: #4836
• State rank: #135 of 620 in IL

Livability — Lake Villa

• Score: 83/100
• State rank: #42
• US rank: #889

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Lake County · 591,991 people
• City population: 34,708
• Metro: Chicago-Naperville-Elgin, IL-IN-WI
• Population (ZIP): 34,613
• Household income: $126,042
• Rent vs Own: 15.8% rent · 84.2% own
• Severe rent burden: 282.0

Population outlook (Lake County) Hauer SSP2

• Today (2025): 700,217 people
• By 2030: 693,290 · -1.0%
• By 2040: 673,588 · -3.8%
• By 2050: 643,556 · -8.1%
• By 2075: 562,792 · -19.6%
• By 2100: 457,715 · -34.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (70%)
• Race & ethnicity: White 70% Hispanic / Latino 17% Two or more races 9% Asian 6% Black 4%
• Hispanic origin (detail): Mexican 12% Puerto Rican 2%
• Common ancestry: Romanian 13% Portuguese 2% Lithuanian 2%
• Foreign-born: 13% · Canada, South Korea, Vietnam
• Languages at home: 80% English-only · Spanish 11% Russian/Polish/Slavic 3% Other Asian/Pacific 1%

Political lean MEDSL · Lake

• 2024 margin: Strong D (+20.8) · D 59.7% · R 38.9% · Other 1.4%
• 2008→2024 swing: +1.1pp toward D · 2008: 19.6pp · 2024: 20.8pp
• All cycles: 2024: D+20.8 2020: D+24.1 2016: D+20.3 2012: D+8.1 2008: D+19.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -137.45%
• Current HPI: 202.1374
• 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

Price history

+459.5% since first listed

8 events — show timeline

• 2026-06-04 Listed $235,000 MRED as Distributed by MLS Grid
• 2026-05-06 Contingent — MRED as Distributed by MLS Grid
• 2026-05-06 Listing Removed — MRED as Distributed by MLS Grid
• 2026-04-24 Listed — MRED as Distributed by MLS Grid
• 2026-04-02 Contingent — MRED as Distributed by MLS Grid
• 2026-04-01 Listing Removed — MRED as Distributed by MLS Grid
• 2026-03-30 Listed — MRED as Distributed by MLS Grid
• 1985-11-01 Sold (Public Records) $42,000 Public Records

Property tax history

+3.1%/yr

Latest (2024): $5,012 · +4.5% YoY. Source: county tax records.