382 Kelburn Rd #221 · Deerfield, IL 60015

$295,000

1 bd · 1.0 ba · 842 sqft · Condo public records · 10 Days on market

Built 1996 $342/mo HOA · 11% of rent

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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 +16.8/30.0
• ARV discount +7.5/15.0
• 1% rule +6.0/10.0
• Schools +5.9/10.0
• DSCR +5.2/10.0
• Livability +4.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Enjoy this beautifully maintained 1-bedroom, 1-bath residence in the highly sought-after Coromandel community. Featuring an open-concept layout with a spacious living and dining area that flows seamlessly to a private balcony, a bright kitchen open to the main living space, and a generously sized bedroom with an oversized walk-in closet. Additional highlights include in-unit laundry, a separate storage unit, and a heated garage parking space. Ideally situated just steps from the clubhouse, fitness center, and indoor and outdoor pools, residents enjoy access to Coromandel's outstanding amenities, including tennis and basketball courts, scenic walking paths, and beautifully landscaped grounds

Key facts

• Clubhouse
• Private balcony
• In-unit laundry

Tags

• OPEN-CONCEPT LAYOUT
• PRIVATE BALCONY
• IN-UNIT LAUNDRY
• SEPARATE STORAGE UNIT
• HEATED GARAGE PARKING
• CLUBHOUSE

Property features AI

Exterior

• Parking: Garage available
• Home design: Condominium; Single-story building
• Exterior features: Part of an 18-unit building

Interior

• Bedrooms: 1 bedroom
• Bathrooms: 1 bathroom
• Interior features: Building elevator; On-site fitness center

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $295k.

Deal economics

• At list price, monthly cash flow is $190 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $295k).
• Cap rate 7.1% vs local median 3.4% in Deerfield — 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 84/100 on livability (#35 in IL, #705 nationally) — a professional / high-income tenant draw. Strengths: crime A+, commute A+, employment A+; Watch: amenities C-, health & safety C-, cost of living F.
• Twp Hsd 113 (suburban): math 60% / reading 63% proficiency, ranked #19 of 620 in IL (top 3%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: South Park Elem School (math 62% / reading 62%, grade B, #53 of 2,056 statewide, top 3%, 441 students, 0% FRL); Charles J Caruso Middle School (math 62% / reading 68%, grade A-, #13 of 665 statewide, top 2%, 445 students, 0% FRL); Deerfield High School (math 67% / reading 69%, grade B, #9 of 693 statewide, top 1%, 1,483 students, 0% FRL).
• Market conditions: 122 active listings in the ZIP; 12 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 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 $9k 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 10 days on market — expect competitive offers; lowballing is unlikely to land.

Recommended offer $295,000

Questions for the listing agent

1. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
2. 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?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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: 1.10% ✓
• Cap rate: 7.07%
• Cash-on-cash: 2.77%
• DSCR: 1.12
• GRM: 7.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -11.8%
• Equity multiple: 0.57×
• Total profit: $-35,421
• Equity at exit: $43,985

10-year hold

• IRR: -2.5%
• Equity multiple: 0.83×
• Total profit: $-14,182
• Equity at exit: $25,506

Cash invested: $82,600 (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 60015

• Active inventory: 122
• Price-to-rent: 7.6×

Monthly cashflow live

• Estimated rent: $3,254 high
• Mortgage (P&I): −$1,547
• Tax est. 1.5%: −$369 /mo · $4,425/yr
• Insurance: −$123
• HOA: −$342
• Vacancy / Maint / Mgmt: −$683
• Net cashflow: $190

Break-even live

Break-even rent $3,014

Max offer price $295,000

Occupancy floor 89%

Sensitivity live

Price	-10% $394	-5% $292	+0% $190	+5% $88	+10% $-14
Rent	-10% $-67	-5% $62	+0% $190	+5% $319	+10% $447
Rate	-1.0pp $339	-0.5pp $265	base $190	+0.5pp $114	+1.0pp $36

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: $73,750
• Closing costs: $8,850
• Reserves months: —
• Total cash needed: —

Rent comps 12 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
728 Waukegan Rd Unit 203 Deerfield, IL	2.0	2.0	1117	$4,295	$3.85	18d	1	0.40mi
728 Waukegan Rd Deerfield, IL	2.0	2.0	1117	$4,495	$4.02	23d	1	0.40mi
728 Waukegan Rd Unit 206 Deerfield, IL	2.0	2.0	1117	$4,495	$4.02	25d	1	0.40mi
728 Waukegan Rd Unit 203 Deerfield, IL	2.0	2.0	1117	$4,295	$3.85	23d	1	0.40mi
728 Waukegan Rd Unit 206 Deerfield, IL	2.0	2.0	1117	$4,700	$4.21	26d	1	0.40mi
625 Deerfield Rd Deerfield, IL	1.0–2.0	1.0–2.0	1057	$2,280	$2.16	6d	11	0.47mi
740 Chestnut St Unit 2 Deerfield, IL	2.0	2.0	1100	$2,990	$2.72	26d	1	0.59mi
1151 Deerfield Rd Deerfield, IL	2.0	1.0	850	$2,200	$2.59	14d	1	0.79mi
400 Spring Cress RD Deerfield, IL	3.0	1.0–2.0	999	$2,467	$2.47	0d	55	0.90mi
1121 Waukegan Rd Deerfield, IL	2.0	1.0	800	$2,200	$2.75	26d	1	0.95mi
1141 Waukegan Rd Unit 2 Bedroom Deerfield, IL	2.0	1.0	875	$1,625	$1.86	22d	1	0.97mi
1525 Lake Cook Rd Deerfield, IL	2.0	1.0–2.0	946	$3,166	$3.35	0d	17	1.27mi

HOA detail condo

• Monthly dues: $342 · $4,104/yr
• Likely covers: landscapingpoolgym
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 9 events

1. 2026-06-21
   days on market $295,000 Active 10 DOM
2. 2026-06-18
   days on market $295,000 Active 7 DOM
3. 2026-06-17
   days on market $295,000 Active 6 DOM
4. 2026-06-16
   days on market $295,000 Active 5 DOM
5. 2026-06-15
   days on market $295,000 Active 4 DOM
6. 2026-06-13
   days on market $295,000 Active 2 DOM
7. 2026-06-13
   remarks 699-char remark
8. 2026-06-13
   pricestatuslisting id $295,000 Active 1 DOM
9. 2026-06-09
   listed $310,000 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: $39,053
• − Mortgage interest: −$16,525
• − Property taxes: −$4,425
• − Insurance: −$1,475
• − Repairs & maintenance: −$3,124
• − Management: −$3,124
• − HOA: −$4,104
• − Depreciation: −$8,582
• Taxable loss: −$2,306
• Est. tax savings @ 24.0%: +$553
• After-tax cash flow: $2,837/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: Twp Hsd 113
• NCES district ID: 1719080
• Math proficiency: 60% ▼ -6.00%
• Reading proficiency: 63% ▼ -5.00%
• Median HH income: $122,404
• Composite: 59.23/100
• National rank: #937
• State rank: #19 of 620 in IL

Livability — Deerfield

• Score: 84/100
• State rank: #35
• US rank: #705

Category grades

Amenities C- 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: Deerfield, IL
• County: Lake County · 591,991 people
• City population: 28,096
• Metro: Chicago-Naperville-Elgin, IL-IN-WI
• Population (ZIP): 28,096
• Household income: $183,125
• Rent vs Own: 15.3% rent · 84.7% own
• Severe rent burden: 450.0

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 (84%)
• Race & ethnicity: White 84% Asian 8% Hispanic / Latino 5% Two or more races 3% Black 1%
• Common ancestry: Romanian 11% Scotch-Irish 10% Italian 4%
• Foreign-born: 14% · China, South Korea, Canada
• Languages at home: 82% English-only · Russian/Polish/Slavic 6% Other Indo-European 3% Spanish 3%

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: ▼ -318.91%
• Current HPI: 184.8993
• 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