42 Rushmore Rd · Fox Lake, IL 60020

$295,000

4 bd · 1.0 ba · 1,974 sqft · SingleFamily public records · 15 Days on market

Built 1943 7,248 sqft lot Est $349k · 16% 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 +14.5/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Charming, updated home. Detached garage, 4 bedrooms. Spacious! Single Family Home. Property sold AS-Is. All offers must include buyer's check list, earnest money, and pre-approval or POF. Data can be assumed to be only approximate. Tax proration is 100%, no survey will be supplied by the seller. Seller and their agents will not be responsible for any misrepresentations within tax or MLS data. "This property is eligible under the Freddie Mac First Look Initiative through 11/29/2025."

Key facts

• Lots of storage
• Side driveway
• Front driveway

Tags

• WOODBURNING FIREPLACE
• FRONT DRIVEWAY
• BACKYARD AISLE DETACHED GARAGE
• LOTS OF STORAGE
• SIDE DRIVEWAY

Property features AI

Finance

• Other: Property not currently leased; Possession at closing
• Financial info: Special service area: No
• HOA & community: No master association fee required

Exterior

• Parking: Detached garage (garage owned); Asphalt driveway; Total parking for 1 vehicle
• Security: Fire sprinklers
• Utilities: Well water; Public sewer; 100 amp electric service with circuit breakers
• Home design: Detached single-family home; Cape Cod / 2-story design; Fee simple ownership; Rehab completed in 2022; Built approximately 81–90 years ago
• Construction: Vinyl siding; Asphalt roof; Concrete perimeter foundation
• Exterior features: Level lot; Lot dimensions approximately 50 x 145; Less than 0.25 acre; Paved street

Interior

• Kitchen: Granite counters; Eating area / breakfast bar; Range; Microwave; Refrigerator; Stainless steel appliances
• Bedrooms: Four bedrooms total; Master bedroom on main level; Two bedrooms on second level; Second bedroom on main level
• Flooring: Wood laminate flooring throughout main rooms and bedrooms
• Bathrooms: Two full bathrooms
• Heating & cooling: Forced air heating (natural gas); Central air conditioning
• Interior features: Seven total rooms; Dormer attic; Kitchen/dining combo; Crawl space basement; Water-softener (owned); Fire sprinklers; Gas water heater
• Laundry & utility: Main-level laundry; Gas dryer hookup; Electric dryer hookup; Laundry sink

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $295k.

Deal economics

• At list price, monthly cash flow is $4k ($44k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($7k rent vs $295k).
• Recommended offer: $291k (1.5% below list) — sets the bar for market timing.
• Cap rate 21.3% vs local median 6.0% in Fox Lake — 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 74/100 on livability (#247 in IL, #4,462 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, commute A; Watch: amenities D+, health & safety 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: Grant Community High School (math 23% / reading 27%, grade F, #247 of 693 statewide, top 36%, 1,837 students, 0% FRL).
• Market conditions: 78 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $83k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 15 days — a 2% lower offer ($291k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 19y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Watch-outs: built in 1943 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $290,575 (1.5% below list)

Questions for the listing agent

1. Built in 1943 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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.
5. 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.
6. 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: 2.51% ✓
• Cap rate: 21.29%
• Cash-on-cash: 53.55%
• DSCR: 3.38
• GRM: 3.3

CMA / ARV

• ARV (on-the-fly): $349,398
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
42 Rushmore Rd	0.00mi	4/2.0	1,974 (0%)	5mo	$257,400	$130	92
97 Mark Ln	0.25mi	4/2.5	2,000 (+1%)	1mo	$354,900	$177	79
18 N Lake Ave	0.33mi	3/2.5 (-1)	1,929 (-2%)	11mo	$672,500	$349	61
11 Hellios Ct	0.19mi	4/2.0	1,702 (-14%)	9mo	$255,000	$150	57
34 Elm Ave	0.50mi	4/2.0	1,768 (-10%)	3mo	$356,000	$201	53
25 Lippincott Rd	0.16mi	5/3.0 (+1)	2,160 (+9%)	14mo	$367,000	$170	52
38 Highview Ave	0.70mi	4/2.0	2,006 (+2%)	11mo	$295,000	$147	52
36 N Lake Ave	0.28mi	3/2.0 (-1)	1,700 (-14%)	8mo	$640,000	$376	48
16 S Lake Ave	0.47mi	3/1.0 (-1)	1,783 (-10%)	11mo	$230,500	$129	48
8 S Lake Ave	0.45mi	5/2.0 (+1)	1,750 (-11%)	7mo	$260,000	$149	45
260 Lindy St	0.69mi	4/3.0	2,030 (+3%)	13mo	$435,000	$214	44
310 Mastodon Dr	0.69mi	3/2.0 (-1)	1,700 (-14%)	2mo	$375,000	$221	34

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: 51.7%
• Equity multiple: 3.27×
• Total profit: $187,135
• Equity at exit: $43,985

10-year hold

• IRR: 57.0%
• Equity multiple: 6.64×
• Total profit: $466,009
• 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 60020

• Home prices YoY: -30.7%
• Active inventory: 78
• Price-to-rent: 3.3×

Monthly cashflow live

• Estimated rent: $7,413 medium
• Mortgage (P&I): −$1,547
• Tax from tax record: −$500 /mo · $6,003/yr
• Insurance: −$123
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,557
• Net cashflow: $3,686

Break-even live

Break-even rent $2,747

Max offer price $295,000

Occupancy floor 45%

Sensitivity live

Price	-10% $3,853	-5% $3,769	+0% $3,686	+5% $3,602	+10% $3,519
Rent	-10% $3,100	-5% $3,393	+0% $3,686	+5% $3,979	+10% $4,271
Rate	-1.0pp $3,834	-0.5pp $3,761	base $3,686	+0.5pp $3,609	+1.0pp $3,532

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 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
184 E Grand Ave Unit 1374785P Fox Lake, IL	4.0	3.0	1593	$7,875	$4.94	7d	1	0.48mi
10 N Pistakee Lake Rd Unit 1374789P Fox Lake, IL	4.0	2.0	1991	$6,280	$3.15	5d	1	1.45mi

Listing history 10 events

1. 2026-06-18
   days on market $295,000 Active 15 DOM
2. 2026-06-17
   days on market $295,000 Active 14 DOM
3. 2026-06-16
   days on market $295,000 Active 13 DOM
4. 2026-06-15
   days on market $295,000 Active 12 DOM
5. 2026-06-13
   days on market $295,000 Active 10 DOM
6. 2026-06-09
   days on market $295,000 Active 6 DOM
7. 2026-06-08
   days on market $295,000 Active 5 DOM
8. 2026-06-07
   days on market $295,000 Active 4 DOM
9. 2026-06-04
   remarks 234-char remark
10. 2026-06-04
    listed $295,000 Active 1 DOM

ⓘ 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: $6,003 · $500/mo
• Projected year-2 tax: $6,350 · $529/mo
• Expected delta: +$347/yr (+$29/mo · 5.8%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥100°F today · 14 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $88,950
• − Mortgage interest: −$16,525
• − Property taxes: −$6,003
• − Insurance: −$1,475
• − Repairs & maintenance: −$7,116
• − Management: −$7,116
• − Depreciation: −$8,582
• Taxable income: $42,134
• Est. tax owed @ 24.0%: −$10,112
• After-tax cash flow: $34,117/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 — Fox Lake

• Score: 74/100
• State rank: #247
• US rank: #4462

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Fox Lake, IL
• City population: 10,846
• Population (ZIP): 10,846

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 (80%)
• Race & ethnicity: White 80% Hispanic / Latino 12% Two or more races 10% Black 3%
• Hispanic origin (detail): Mexican 10% Puerto Rican 1%
• Common ancestry: Romanian 15% Portuguese 2% Italian 2%
• Foreign-born: 10% · Canada, South Korea
• Languages at home: 87% English-only · Spanish 6% Russian/Polish/Slavic 3% Other Indo-European 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: ▼ -97.19%
• Current HPI: 219.6301
• Rent YoY: —
• Metro: —
• 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

+91.6% since first listed

17 events — show timeline

• 2026-06-02 Listed $295,000 MRED as Distributed by MLS Grid
• 2026-01-23 Sold (MLS) $257,400 MRED as Distributed by MLS Grid
• 2025-11-21 Contingent — MRED as Distributed by MLS Grid
• 2025-10-31 Listed $249,900 MRED as Distributed by MLS Grid
• 2023-12-19 Sold (Public Records) $230,000 Public Records
• 2023-11-22 Sold (MLS) $230,000 MRED as Distributed by MLS Grid
• 2023-10-26 Contingent — MRED as Distributed by MLS Grid
• 2023-10-05 Listed $239,000 MRED as Distributed by MLS Grid
• 2010-07-27 Sold (Public Records) $117,000 Public Records
• 2010-07-15 Sold (MLS) $117,000 MRED as Distributed by MLS Grid
• 2010-06-04 Contingent — MRED as Distributed by MLS Grid
• 2010-04-12 Listed $135,000 MRED as Distributed by MLS Grid
• 2009-12-07 Listing Removed — MRED as Distributed by MLS Grid
• 2009-10-04 Price Changed — MRED as Distributed by MLS Grid
• 2009-03-08 Price Changed — MRED as Distributed by MLS Grid
• 2007-05-05 Listed — MRED as Distributed by MLS Grid
• 2004-10-14 Sold (Public Records) $154,000 Public Records

Property tax history

+3.5%/yr

Latest (2024): $6,003 · +2.7% YoY. Source: county tax records.