None · Round Lake Beach, IL 60073

$280,000

3 bd · 1.5 ba · 1,264 sqft · Condo public records · 8 Days on market

Built 1992

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Why this score? — see what drove the D 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 +14.1/30.0
• ARV discount +7.5/15.0
• DSCR +4.3/10.0
• Livability +4.0/5.0
• 1% rule +3.9/10.0
• Rent growth +3.2/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0
• Appreciation +0.0/10.0

Key facts

• Garage
• Built 1992

Property features AI

Exterior

• Parking: Has garage
• Home design: Condo; Two-story building; Building contains two units

Interior

• Bedrooms: Two bedrooms
• Bathrooms: One full and one half bathroom
• Heating & cooling: Air conditioning
• Interior features: Five total rooms

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath condo listed at $280k.

Deal economics

• At list price, monthly cash flow is $42 ($502/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 $250k (10.6% below list).
• Recommended offer: $250k (10.6% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 79/100 on livability (#125 in IL, #2,172 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: commute F.
• Grant Chsd 124 (suburban): math 23% / reading 27% proficiency, ranked #296 of 620 in IL (top 48%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Olive C Martin School (math 24% / reading 24%, grade F, #850 of 2,056 statewide, top 45%, 542 students, 0% FRL); Peter J Palombi School (math 24% / reading 24%, grade F, #332 of 665 statewide, top 55%, 837 students, 0% FRL); Grant Community High School (math 23% / reading 27%, grade F, #247 of 693 statewide, top 36%, 1,837 students, 0% FRL).
• Market conditions: Rents rising (+2.9%/yr); 97 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals leasing fast (median 0d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 948 units permitted in Lake County in 2024 (424 in 5+ unit buildings).
• This rent runs 30% of the median local income ($99k/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 $2k of loan paydown is wiped out by about $8k 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 8 days on market — expect competitive offers; lowballing is unlikely to land.

Recommended offer $250,234 (10.6% below list)

Questions for the listing agent

1. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
4. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
5. 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.
6. 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.
7. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.89% ✗
• Cap rate: 6.47%
• Cash-on-cash: 0.64%
• DSCR: 1.03
• GRM: 9.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 2.87% rent growth · sell at horizon

5-year hold

• IRR: -15.4%
• Equity multiple: 0.45×
• Total profit: $-42,997
• Equity at exit: $41,749

10-year hold

• IRR: -7.1%
• Equity multiple: 0.55×
• Total profit: $-35,195
• Equity at exit: $24,209

Cash invested: $78,400 (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 60073

• Rents YoY: 2.9%
• Active inventory: 97
• Price-to-rent: 9.3×

Monthly cashflow live

• Estimated rent: $2,502 high
• Mortgage (P&I): −$1,468
• Tax est. 1.5%: −$350 /mo · $4,200/yr
• Insurance: −$117
• HOA: −$0
• Vacancy / Maint / Mgmt: −$525
• Net cashflow: $42

Break-even live

Break-even rent $2,449

Max offer price $280,000

Occupancy floor 93%

Sensitivity live

Price	-10% $235	-5% $139	+0% $42	+5% $-55	+10% $-152
Rent	-10% $-156	-5% $-57	+0% $42	+5% $141	+10% $240
Rate	-1.0pp $183	-0.5pp $113	base $42	+0.5pp $-31	+1.0pp $-105

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: $70,000
• Closing costs: $8,400
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
67 W Rustic Ln Round Lake Beach, IL	3.0	2.5	1504	$2,600	$1.73	0d	1	0.21mi
460 Meadow Hill Ln Round Lake Beach, IL	3.0	1.5	1276	$2,300	$1.80	0d	1	0.73mi
422 Meadow Green Ln Round Lake Beach, IL	2.0	1.5	960	$1,800	$1.88	45d	1	0.78mi
389 Meadow Green Ln Unit 1 Round Lake Beach, IL	2.0	1.5	960	$1,800	$1.88	0d	1	0.80mi
544 Meadow Green Ln Round Lake Beach, IL	3.0	1.5	1160	$2,100	$1.81	0d	1	0.85mi
1521 N Lake Shore Dr Round Lake Beach, IL	3.0	2.0	1800	$2,999	$1.67	0d	1	0.95mi
708 S Cedarwood Cir Round Lake Heights, IL	3.0	1.0	931	$2,000	$2.15	0d	1	0.96mi
510 E Clarendon Dr Round Lake Beach, IL	4.0	1.5	1229	$2,341	$1.90	22d	1	1.06mi
941 Deer Trl Round Lake Beach, IL	3.0	2.5	1850	$2,975	$1.61	16d	1	1.20mi
2315 Meadows Ln #2315 Round Lake Beach, IL	3.0	1.5	1704	$2,600	$1.53	20d	1	1.30mi

HOA detail condo

• Monthly dues: $0 · $0/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 6 events

1. 2026-06-21
   days on market $280,000 Coming Soon 8 DOM
2. 2026-06-18
   days on market $280,000 Coming Soon 5 DOM
3. 2026-06-17
   days on market $280,000 Coming Soon 4 DOM
4. 2026-06-16
   days on market $280,000 Coming Soon 3 DOM
5. 2026-06-15
   days on market $280,000 Coming Soon 2 DOM
6. 2026-06-13
   listed $280,000 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: $30,028
• − Mortgage interest: −$15,684
• − Property taxes: −$4,200
• − Insurance: −$1,400
• − Repairs & maintenance: −$2,402
• − Management: −$2,402
• − Depreciation: −$8,145
• Taxable loss: −$4,206
• Est. tax savings @ 24.0%: +$1,009
• After-tax cash flow: $1,511/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: Grant Chsd 124
• NCES district ID: 1717340
• Math proficiency: 23% ▼ -9.00%
• Reading proficiency: 27% ▼ -7.00%
• Median HH income: $59,450
• Composite: 22.95/100
• National rank: #7989
• State rank: #296 of 620 in IL

Livability — Round Lake Beach

• Score: 79/100
• State rank: #125
• US rank: #2172

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Round Lake Beach, IL
• County: Lake County · 591,991 people
• Metro: Chicago-Naperville-Elgin, IL-IN-WI
• Population (ZIP): 62,868
• Household income: $98,514
• Rent vs Own: 21.9% rent · 78.1% own
• Severe rent burden: 1225.0

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: Diverse neighborhood (Simpson 0.63)
• Race & ethnicity: Hispanic / Latino 45% White 40% Two or more races 20% Asian 7% Black 4% Native American 2%
• Hispanic origin (detail): Mexican 37% Puerto Rican 3%
• Common ancestry: Romanian 8% Portuguese 1% Lithuanian 1%
• Foreign-born: 25% · Canada, South Korea, Vietnam
• Languages at home: 56% English-only · Spanish 35% Russian/Polish/Slavic 2% Other Indo-European 2%

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: ▼ -140.95%
• Current HPI: 229.1762
• Rent YoY: ▲ 2.87%
• 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