21643 W Cedar Ave · Lindenhurst, IL 60046

$100,000

2 bd · 1.0 ba · 809 sqft · SingleFamily public records · 43 Days on market

Built 1950 4,900 sqft lot Est $193k · 48% under

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Why this score? — see what drove the B+ 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 +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.9/5.0
• Schools +3.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

GREAT VIEWS OF CROOKED LAKE!!! FROM THIS CHANNEL FRONT 2 BEDROOM 1 BATH RANCH HOME!! WITH WATER RIGHTS AND COMMUNITY BEACH NEARBY!! WRAP AROUND DECK!! 2.5 CAR GARAGE!! OPEN FLOOR PLAN!! FIREPLACE IN LIVING ROOM, VAULTED CIELING, RECESSED LIGHTING IN KITCHEN AND LIVING ROOM LOTS OF IMPROVEMENTS IN 2020 !! NEW ELECTRIC, NEW PLUMBING, WATER FILTRATION SYSTEM , NEW FURNACE, NEW CABINETS, COUNTER TOP NEEDS FINISHING, REMODELED BATH WITH NEW TUB, SINK, CERMAMIC TILE FLOORS, NO FLOOD INSURANCE REQUIRED NOT IN FLOOD PLAIN!! MINUTES TO GURNEE MILLS SHOPPING CENTER, GREAT AMERICA AND GREAT WOLF LODGE!!!! GREAT STARTER, DOWN SIZING, EMPTY NESTORS, SECOND HOME!! OR POTENTIAL FOR AIR B/B.

Key facts

• Water views
• Newer furnace
• Electrical updates

Tags

• WATER VIEWS
• NEWER FURNACE
• ELECTRICAL UPDATES
• WATER FILTRATION SYSTEM
• LARGE FIREPLACE
• TWO-CAR DETACHED GARAGE

Property features AI

Finance

• Other: Fee simple ownership; Not currently leased; Built before 1978
• HOA & community: No master association fee required; Community features include lake access and a dock

Exterior

• Parking: Detached garage with garage door opener (garage owned); 2 total parking spaces
• Utilities: Well water; Septic tank sewer; 100 amp electric service with circuit breakers
• Home design: Detached single-family home; One-story
• Construction: Built approximately 71–80 years ago; Vinyl siding with frame construction; Asphalt roof; Concrete perimeter foundation
• Exterior features: Deck; Lake privileges; Channel front lot; Water rights; Paved street

Interior

• Kitchen: Eating area / table space
• Bedrooms: 2 bedrooms (both on the main level); Master bedroom on the main level
• Bathrooms: 1 full bathroom
• Heating & cooling: Natural gas forced air heating
• Interior features: First-floor full bathroom; Skylight(s); Unfinished attic; Kitchen and dining combined; Wood-burning and electric fireplace in the living room
• Laundry & utility: Separate laundry room

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $100k.

Deal economics

• At list price, monthly cash flow is $801 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $100k).
• Recommended offer: $97k (3.0% below list) — sets the bar for market timing.
• Cap rate 15.9% vs local median 3.8% in Lindenhurst — 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 77/100 on livability (#165 in IL, #3,036 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: amenities F, commute F.
• 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.
• Zoned schools: Hillcrest Elementary School (math 21% / reading 24%, grade F, #934 of 2,056 statewide, top 46%, 638 students, 0% FRL); Antioch Upper Grade School (math 27% / reading 33%, grade F, #246 of 665 statewide, top 38%, 902 students, 0% FRL); Lakes Community High School (math 40% / reading 43%, grade F, #82 of 693 statewide, top 12%, 1,317 students, 0% FRL).
• Market conditions: 84 active listings in the ZIP; 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 $691 of loan paydown is wiped out by about $3k 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $28k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 43 days — a 3% lower offer ($97k) is reasonable based on typical stale-listing flexibility.
• 9 sale attempts since 16y ago; this cycle's ask has dropped $7k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $97,000 (3.0% below list)

Questions for the listing agent

1. It's been on market 43 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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 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: 1.92% ✓
• Cap rate: 15.91%
• Cash-on-cash: 34.34%
• DSCR: 2.53
• GRM: 4.3

CMA / ARV

• ARV (on-the-fly): $193,351
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
21584 W Lake Ave	0.08mi	2/1.0	872 (+8%)	8mo	$95,000	$109	76
21701 W Willow St	0.12mi	2/1.0	720 (-11%)	19mo	$172,000	$239	60

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: 29.8%
• Equity multiple: 2.25×
• Total profit: $34,871
• Equity at exit: $14,910

10-year hold

• IRR: 37.1%
• Equity multiple: 4.44×
• Total profit: $96,252
• Equity at exit: $8,646

Cash invested: $28,000 (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: 84
• Price-to-rent: 4.3×

Monthly cashflow live

• Estimated rent: $1,919 medium
• Mortgage (P&I): −$524
• Tax from tax record: −$149 /mo · $1,783/yr
• Insurance: −$42
• HOA: −$0
• Vacancy / Maint / Mgmt: −$403
• Net cashflow: $801

Break-even live

Break-even rent $905

Max offer price $100,000

Occupancy floor 53%

Sensitivity live

Price	-10% $858	-5% $830	+0% $801	+5% $773	+10% $745
Rent	-10% $650	-5% $725	+0% $801	+5% $877	+10% $953
Rate	-1.0pp $852	-0.5pp $827	base $801	+0.5pp $775	+1.0pp $749

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: $25,000
• Closing costs: $3,000
• Reserves months: —
• Total cash needed: —

Listing history 39 events

1. 2026-05-20
   status Active
2. 2026-05-20
   price $100,000
3. 2026-04-19
   historical Contingent - Continue to Show
4. 2026-04-16
   listed $107,000 Active
5. 2021-03-23
   soldstatus $105,000
6. 2021-02-19
   soldstatus $105,000 Closed Sale 686-char remark

   Show marketing remark (686 chars)

   GREAT VIEWS OF CROOKED LAKE!!! FROM THIS CHANNEL FRONT 2 BEDROOM 1 BATH RANCH HOME!! WITH WATER RIGHTS AND COMMUNITY BEACH NEARBY!! WRAP AROUND DECK!! 2.5 CAR GARAGE!! OPEN FLOOR PLAN!! FIREPLACE IN LIVING ROOM, VAULTED CIELING, RECESSED LIGHTING IN KITCHEN AND LIVING ROOM LOTS OF IMPROVEMENTS IN 2020 !! NEW ELECTRIC, NEW PLUMBING, WATER FILTRATION SYSTEM , NEW FURNACE, NEW CABINETS, COUNTER TOP NEEDS FINISHING, REMODELED BATH WITH NEW TUB, SINK, CERMAMIC TILE FLOORS, NO FLOOD INSURANCE REQUIRED NOT IN FLOOD PLAIN!! MINUTES TO GURNEE MILLS SHOPPING CENTER, GREAT AMERICA AND GREAT WOLF LODGE!!!! GREAT STARTER, DOWN SIZING, EMPTY NESTORS, SECOND HOME!! OR POTENTIAL FOR AIR B/B.

7. 2021-02-06
   status Pending 686-char remark

   Show marketing remark (686 chars)

   GREAT VIEWS OF CROOKED LAKE!!! FROM THIS CHANNEL FRONT 2 BEDROOM 1 BATH RANCH HOME!! WITH WATER RIGHTS AND COMMUNITY BEACH NEARBY!! WRAP AROUND DECK!! 2.5 CAR GARAGE!! OPEN FLOOR PLAN!! FIREPLACE IN LIVING ROOM, VAULTED CIELING, RECESSED LIGHTING IN KITCHEN AND LIVING ROOM LOTS OF IMPROVEMENTS IN 2020 !! NEW ELECTRIC, NEW PLUMBING, WATER FILTRATION SYSTEM , NEW FURNACE, NEW CABINETS, COUNTER TOP NEEDS FINISHING, REMODELED BATH WITH NEW TUB, SINK, CERMAMIC TILE FLOORS, NO FLOOD INSURANCE REQUIRED NOT IN FLOOD PLAIN!! MINUTES TO GURNEE MILLS SHOPPING CENTER, GREAT AMERICA AND GREAT WOLF LODGE!!!! GREAT STARTER, DOWN SIZING, EMPTY NESTORS, SECOND HOME!! OR POTENTIAL FOR AIR B/B.

8. 2021-01-15
   listed $105,000 New 686-char remark

   Show marketing remark (686 chars)

   GREAT VIEWS OF CROOKED LAKE!!! FROM THIS CHANNEL FRONT 2 BEDROOM 1 BATH RANCH HOME!! WITH WATER RIGHTS AND COMMUNITY BEACH NEARBY!! WRAP AROUND DECK!! 2.5 CAR GARAGE!! OPEN FLOOR PLAN!! FIREPLACE IN LIVING ROOM, VAULTED CIELING, RECESSED LIGHTING IN KITCHEN AND LIVING ROOM LOTS OF IMPROVEMENTS IN 2020 !! NEW ELECTRIC, NEW PLUMBING, WATER FILTRATION SYSTEM , NEW FURNACE, NEW CABINETS, COUNTER TOP NEEDS FINISHING, REMODELED BATH WITH NEW TUB, SINK, CERMAMIC TILE FLOORS, NO FLOOD INSURANCE REQUIRED NOT IN FLOOD PLAIN!! MINUTES TO GURNEE MILLS SHOPPING CENTER, GREAT AMERICA AND GREAT WOLF LODGE!!!! GREAT STARTER, DOWN SIZING, EMPTY NESTORS, SECOND HOME!! OR POTENTIAL FOR AIR B/B.

9. 2019-12-12
   soldstatus $45,000 Closed Sale 552-char remark

   Show marketing remark (552 chars)

   Looking for your winter project? Then, this is it. This is your opportunity to get it and remodel it or just redo the interiors to your own taste. Sitting on the side of the channel with its own access pier to Crooked Lake. This cozy 2 bedroom 1 bathroom home with a 2.5 car garage offers incredible views for nature lovers. Standing on the deck and just enjoy the view, wouldn't you love that? Sold As is, No survey, 100% Tax Pro rations, and Buyer pays all inspections. First list period Owner Occupied only. SEE CONDITION REPORT IN ADDITIONAL INFO

10. 2019-11-01
    historical Contingent 552-char remark

    Show marketing remark (552 chars)

    Looking for your winter project? Then, this is it. This is your opportunity to get it and remodel it or just redo the interiors to your own taste. Sitting on the side of the channel with its own access pier to Crooked Lake. This cozy 2 bedroom 1 bathroom home with a 2.5 car garage offers incredible views for nature lovers. Standing on the deck and just enjoy the view, wouldn't you love that? Sold As is, No survey, 100% Tax Pro rations, and Buyer pays all inspections. First list period Owner Occupied only. SEE CONDITION REPORT IN ADDITIONAL INFO

11. 2019-11-01
    status Reactivated 552-char remark

    Show marketing remark (552 chars)

    Looking for your winter project? Then, this is it. This is your opportunity to get it and remodel it or just redo the interiors to your own taste. Sitting on the side of the channel with its own access pier to Crooked Lake. This cozy 2 bedroom 1 bathroom home with a 2.5 car garage offers incredible views for nature lovers. Standing on the deck and just enjoy the view, wouldn't you love that? Sold As is, No survey, 100% Tax Pro rations, and Buyer pays all inspections. First list period Owner Occupied only. SEE CONDITION REPORT IN ADDITIONAL INFO

12. 2019-10-28
    historical 552-char remark

    Show marketing remark (552 chars)

    Looking for your winter project? Then, this is it. This is your opportunity to get it and remodel it or just redo the interiors to your own taste. Sitting on the side of the channel with its own access pier to Crooked Lake. This cozy 2 bedroom 1 bathroom home with a 2.5 car garage offers incredible views for nature lovers. Standing on the deck and just enjoy the view, wouldn't you love that? Sold As is, No survey, 100% Tax Pro rations, and Buyer pays all inspections. First list period Owner Occupied only. SEE CONDITION REPORT IN ADDITIONAL INFO

13. 2019-10-23
    listed $45,000 New 552-char remark

    Show marketing remark (552 chars)

    Looking for your winter project? Then, this is it. This is your opportunity to get it and remodel it or just redo the interiors to your own taste. Sitting on the side of the channel with its own access pier to Crooked Lake. This cozy 2 bedroom 1 bathroom home with a 2.5 car garage offers incredible views for nature lovers. Standing on the deck and just enjoy the view, wouldn't you love that? Sold As is, No survey, 100% Tax Pro rations, and Buyer pays all inspections. First list period Owner Occupied only. SEE CONDITION REPORT IN ADDITIONAL INFO

14. 2018-01-19
    historical
15. 2017-07-18
    price
16. 2017-04-06
    listed New
17. 2016-03-11
    status Pending
18. 2016-02-13
    historical Contingent
19. 2016-02-12
    historical
20. 2015-12-08
    price
21. 2015-10-06
    price
22. 2015-08-19
    price
23. 2015-07-31
    price
24. 2015-06-24
    price
25. 2015-05-26
    listed New
26. 2014-02-03
    historical
27. 2014-02-03
    price Price Change
28. 2013-08-12
    price Price Change
29. 2013-06-24
    listed New
30. 2011-04-29
    soldstatus $80,000
31. 2011-04-11
    soldstatus $80,000 Closed Sale
32. 2011-02-14
    historical Contingent
33. 2010-10-07
    listed $99,000 New
34. 2005-10-03
    soldstatus $173,000
35. 1999-09-08
    soldstatus $118,500
36. 1997-08-21
    soldstatus $120,000
37. 1988-04-01
    soldstatus $60,000
38. 1985-07-01
    soldstatus $45,000
39. 1984-09-01
    soldstatus $31,500

ⓘ 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: $1,783 · $149/mo
• Projected year-2 tax: $2,027 · $169/mo
• Expected delta: +$243/yr (+$20/mo · 13.6%)

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

Climate risk First Street

• 🌊 Flood 3/10 Moderate FEMA zone X (unshaded) · 20% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥100°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: $23,027
• − Mortgage interest: −$5,602
• − Property taxes: −$1,783
• − Insurance: −$500
• − Repairs & maintenance: −$1,842
• − Management: −$1,842
• − Depreciation: −$2,909
• Taxable income: $8,549
• Est. tax owed @ 24.0%: −$2,052
• After-tax cash flow: $7,563/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 — Lindenhurst

• Score: 77/100
• State rank: #165
• US rank: #3036

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Lake County · 591,991 people
• City population: 34,613
• 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

+217.5% since first listed

39 events — show timeline

• 2026-05-20 Relisted — MRED as Distributed by MLS Grid
• 2026-05-20 Price Changed $100,000 MRED as Distributed by MLS Grid
• 2026-04-19 Contingent — MRED as Distributed by MLS Grid
• 2026-04-16 Listed $107,000 MRED as Distributed by MLS Grid
• 2021-03-23 Sold (Public Records) $105,000 Public Records
• 2021-02-19 Sold (MLS) $105,000 MRED as Distributed by MLS Grid
• 2021-02-06 Pending — MRED as Distributed by MLS Grid
• 2021-01-15 Listed $105,000 MRED as Distributed by MLS Grid
• 2019-12-12 Sold (MLS) $45,000 MRED as Distributed by MLS Grid
• 2019-11-01 Contingent — MRED as Distributed by MLS Grid
• 2019-11-01 Relisted — MRED as Distributed by MLS Grid
• 2019-10-28 Listing Removed — MRED as Distributed by MLS Grid
• 2019-10-23 Listed $45,000 MRED as Distributed by MLS Grid
• 2018-01-19 Listing Removed — MRED as Distributed by MLS Grid
• 2017-07-18 Price Changed — MRED as Distributed by MLS Grid
• 2017-04-06 Listed — MRED as Distributed by MLS Grid
• 2016-03-11 Pending — MRED as Distributed by MLS Grid
• 2016-02-13 Contingent — MRED as Distributed by MLS Grid
• 2016-02-12 Listing Removed — MRED as Distributed by MLS Grid
• 2015-12-08 Price Changed — MRED as Distributed by MLS Grid
• 2015-10-06 Price Changed — MRED as Distributed by MLS Grid
• 2015-08-19 Price Changed — MRED as Distributed by MLS Grid
• 2015-07-31 Price Changed — MRED as Distributed by MLS Grid
• 2015-06-24 Price Changed — MRED as Distributed by MLS Grid
• 2015-05-26 Listed — MRED as Distributed by MLS Grid
• 2014-02-03 Listing Removed — MRED as Distributed by MLS Grid
• 2014-02-03 Price Changed — MRED as Distributed by MLS Grid
• 2013-08-12 Price Changed — MRED as Distributed by MLS Grid
• 2013-06-24 Listed — MRED as Distributed by MLS Grid
• 2011-04-29 Sold (Public Records) $80,000 Public Records
• 2011-04-11 Sold (MLS) $80,000 MRED as Distributed by MLS Grid
• 2011-02-14 Contingent — MRED as Distributed by MLS Grid
• 2010-10-07 Listed $99,000 MRED as Distributed by MLS Grid
• 2005-10-03 Sold (Public Records) $173,000 Public Records
• 1999-09-08 Sold (Public Records) $118,500 Public Records
• 1997-08-21 Sold (Public Records) $120,000 Public Records
• 1988-04-01 Sold (Public Records) $60,000 Public Records
• 1985-07-01 Sold (Public Records) $45,000 Public Records
• 1984-09-01 Sold (Public Records) $31,500 Public Records

Property tax history

-3.3%/yr

Latest (2024): $1,783 · +17.5% YoY. Source: county tax records.