54 Mionske Dr

Lake Zurich, IL 60047

$369,900C-

6 bd · 2.5 ba · 2,210 sqft · Built 1954 · SingleFamily · Active · 223 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $3,853/mo
• Mortgage (P&I): −$1,940
• Tax + insurance: −$979
• HOA: −$0
• Vac / Maint / Mgmt: −$809
• Net cashflow: $125/mo
• Annual: $1,501/yr
• Cap rate: 6.70%
• Cash-on-cash: 1.45%
• DSCR: 1.06
• 1% rule: 1.04%
• Cash to close: $103,572

Investor read

• This is a 6-bed/2.5-bath single-family listed at $370k.
• At list price, monthly cash flow is $125 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $370k).
• It's been on market 223 days — a 12% lower offer ($326k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $326k (12.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $11k of value loss. Plan a longer hold.
• Location reads 76/100 on livability (#175 in IL, #3,345 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: health & safety C-, amenities F, commute F.
• Lake Zurich CUSD 95 (suburban): math 47% / reading 47% proficiency, ranked #44 of 620 in IL (top 7%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; only 10% free/reduced lunch — higher-income household profile.
• Zoned schools: May Whitney Elem School (math 45% / reading 37%, grade F, #372 of 2,056 statewide, top 18%, 657 students, 0% FRL); Lake Zurich Middle - N Campus (math 42% / reading 45%, grade D, #101 of 665 statewide, top 16%, 704 students, 0% FRL); Lake Zurich High School (math 54% / reading 58%, grade C, #25 of 693 statewide, top 4%, 1,804 students, 0% FRL).
• Watch-outs: property tax is 2.7% of price; built in 1954 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 164 active listings in the ZIP; high-income renter base; 948 units permitted in Lake County in 2024 (424 in 5+ unit buildings).
• Lake County population projected to shrink 8% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• 17 sale attempts since 7y ago; this cycle's ask has dropped $25k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $206k; list at $370k implies a 80% gain — meaningful room to come down on a strong offer.
• Climate carrying-cost: moderate flood risk — expect insurance premiums to compound above CPI over the hold.
• Cap rate 6.7% vs local median 4.5% in Lake Zurich — 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.

Questions for listing agent

• It's been on market 223 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Built in 1954 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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.
• 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.