540 Shorely Dr #104 · Barrington, IL 60010

$230,000

2 bd · 2.0 ba · 1,100 sqft · Condo public records · 10 Days on market

Built 1971 $447/mo HOA · 18% of rent

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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 +10.9/30.0
• ARV discount +7.5/15.0
• 1% rule +5.7/10.0
• Schools +4.7/10.0
• Livability +3.9/5.0
• DSCR +3.2/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Shorely Woods at it's finest. .. This beautifully updated 2-bedroom, 2-bathroom first floor condo is everything you've been searching for. Spacious living room with sliding doors to patio. Step into the thoughtfully renovated kitchen, complete with white cabinetry, sleek quartz countertops and stainless steel appliances. The new carpet and luxury wood vinyl flooring flow throughout the space, creating a modern, inviting atmosphere. Plus, with a newer furnace and AC, you can move in with peace of mind. This end unit offers added privacy and an abundance of natural light. A one-car garage adds convenience plus there is a storage closet in building. Located in an unbeatable spot, you'll find y

Key facts

• $447 HOA
• Garage
• Built 1971

Property features AI

Exterior

• Parking: Includes a garage
• Home design: Condo
• Exterior features: Located in a building with 8 total units; Single-story building

Interior

• Bedrooms: 2 bedrooms
• Bathrooms: 2 bathrooms
• Interior features: Condo unit in a low-rise building

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $230k.

Deal economics

• At list price, monthly cash flow is $-101 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $215k (6.4% below list).
• Meets the 1% rule at list price ($2k rent vs $230k).
• Recommended offer: $215k (6.4% below list) — sets the bar for cash-flow.
• Cap rate 5.8% vs local median 2.4% in Barrington — 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 (#156 in IL, #2,854 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, schools A; Watch: health & safety D+, amenities D-, cost of living F.
• Barrington CUSD 220 (suburban): math 46% / reading 49% proficiency, ranked #42 of 620 in IL (top 7%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; only 16% free/reduced lunch — higher-income household profile.
• Market conditions: 243 active listings in the ZIP; 17 comparable units currently listed for rent nearby; rentals at typical pace (median 22d 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).
• This rent is only 17% of the median local income ($178k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

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 10 days on market — expect competitive offers; lowballing is unlikely to land.

Recommended offer $215,376 (6.4% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Built in 1971 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. 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?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 1.07% ✓
• Cap rate: 5.77%
• Cash-on-cash: -1.88%
• DSCR: 0.92
• GRM: 7.8

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: -19.2%
• Equity multiple: 0.33×
• Total profit: $-43,395
• Equity at exit: $34,294

10-year hold

• IRR: -11.6%
• Equity multiple: 0.30×
• Total profit: $-44,810
• Equity at exit: $19,886

Cash invested: $64,400 (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 60010

• Active inventory: 243
• Price-to-rent: 7.8×

Monthly cashflow live

• Estimated rent: $2,450 high
• Mortgage (P&I): −$1,206
• Tax est. 1.5%: −$288 /mo · $3,450/yr
• Insurance: −$96
• HOA: −$447
• Vacancy / Maint / Mgmt: −$514
• Net cashflow: $-101

Break-even live

Break-even rent $2,578

Max offer price $215,376

Occupancy floor 99%

Sensitivity live

Price	-10% $58	-5% $-22	+0% $-101	+5% $-181	+10% $-260
Rent	-10% $-295	-5% $-198	+0% $-101	+5% $-4	+10% $92
Rate	-1.0pp $15	-0.5pp $-43	base $-101	+0.5pp $-161	+1.0pp $-221

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: $57,500
• Closing costs: $6,900
• Reserves months: —
• Total cash needed: —

Rent comps 17 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
530 Shorely Dr #104 Barrington, IL	2.0	2.0	1100	$2,300	$2.09	44d	1	0.03mi
510 Shorely Dr #201 Barrington, IL	2.0	2.0	1200	$2,390	$1.99	3d	1	0.05mi
510 Shorely Dr #201 Barrington, IL	2.0	2.0	1200	$2,490	$2.08	11d	1	0.05mi
101 W Liberty St Barrington, IL	1.0–2.0	1.0–2.0	991	$3,250	$3.28	2d	16	0.32mi
212 Franklin St Unit 2 Barrington, IL	1.0	1.0	960	$2,295	$2.39	2d	1	0.36mi
212 Franklin St Barrington, IL	1.0	1.0	960	$2,295	$2.39	25d	1	0.36mi
212 Franklin St Barrington, IL	1.0	1.0	960	$2,295	$2.39	44d	1	0.36mi
100 E Station St #316 Barrington, IL	2.0	2.0	1455	$3,000	$2.06	25d	1	0.52mi
528 E Main St Barrington, IL	2.0	1.5	1200	$2,200	$1.83	21d	1	0.55mi
327 E Lake St Barrington, IL	3.0	1.0	1000	$2,350	$2.35	11d	1	0.60mi
320 W Main St Unit 2 Barrington, IL	1.0	1.0	700	$1,700	$2.43	44d	1	0.61mi
327 E Lake St Unit 327 Barrington, IL	3.0	1.0	1000	$2,350	$2.35	6d	1	0.62mi
115 N Hager Ave Barrington, IL	3.0	2.0	1473	$3,400	$2.31	44d	1	0.70mi
336 E Russell St Unit 2 Barrington, IL	3.0	2.0	1475	$2,700	$1.83	6d	1	0.72mi
342 E Russell St Unit 2 Barrington, IL	3.0	1.5	1400	$2,400	$1.71	25d	1	0.72mi
600 W Russell St #210 Barrington, IL	2.0	1.5	1160	$2,300	$1.98	25d	1	0.94mi
738 Concord Ln Barrington, IL	2.0–3.0	1.5	1695	$2,100	$1.24	2d	9	0.97mi

HOA detail condo

• Monthly dues: $447 · $5,364/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 14 events

1. 2026-06-18
   days on market $230,000 Active 10 DOM
2. 2026-06-17
   days on market $230,000 Active 9 DOM
3. 2026-06-16
   days on market $230,000 Active 8 DOM
4. 2026-06-15
   days on market $230,000 Active 7 DOM
5. 2026-06-13
   days on market $230,000 Active 5 DOM
6. 2026-06-13
   days on market $230,000 Active 4 DOM
7. 2026-06-08
   remarks 699-char remark
8. 2026-06-08
   statusdays on marketlisting id $230,000 Active 1 DOM
9. 2026-06-07
   days on market $230,000 Coming Soon 12 DOM
10. 2026-06-04
    days on market $230,000 Coming Soon 9 DOM
11. 2026-06-03
    days on market $230,000 Coming Soon 8 DOM
12. 2026-06-02
    days on market $230,000 Coming Soon 7 DOM
13. 2026-06-01
    days on market $230,000 Coming Soon 6 DOM
14. 2026-05-31
    days on market $230,000 Coming Soon 5 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: $29,399
• − Mortgage interest: −$12,884
• − Property taxes: −$3,450
• − Insurance: −$1,150
• − Repairs & maintenance: −$2,352
• − Management: −$2,352
• − HOA: −$5,364
• − Depreciation: −$6,691
• Taxable loss: −$4,844
• Est. tax savings @ 24.0%: +$1,162
• After-tax cash flow: $-50/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: Barrington CUSD 220
• NCES district ID: 1705050
• Math proficiency: 46% ▼ -10.00%
• Reading proficiency: 49% ▼ -11.00%
• Median HH income: $114,016
• Composite: 46.83/100
• National rank: #2376
• State rank: #42 of 620 in IL

Livability — Barrington

• Score: 77/100
• State rank: #156
• US rank: #2854

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Barrington, IL
• County: Lake County · 591,991 people
• City population: 45,747
• Metro: Chicago-Naperville-Elgin, IL-IN-WI
• Population (ZIP): 45,747
• Household income: $177,566
• Rent vs Own: 13.2% rent · 86.8% own
• Severe rent burden: 553.0

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 (77%)
• Race & ethnicity: White 77% Asian 14% Two or more races 5% Hispanic / Latino 4%
• Common ancestry: Romanian 11% Slovak 2% Portuguese 2%
• Foreign-born: 17% · South Korea, China, Canada
• Languages at home: 79% English-only · Other Indo-European 5% Russian/Polish/Slavic 5% Other Asian/Pacific 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: ▼ -179.65%
• Current HPI: 181.3706
• 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