2605 N Pine St · Waukegan, IL 60087

$110,000

3 bd · 1.0 ba · 1,296 sqft · SingleFamily public records · 3 Days on market

Built 1955 3,125 sqft lot

---

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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +0.8/10.0
• Appreciation +0.0/10.0

Listing remarks

3 BEDROOM 1 BATHROOM RAISED RANCH FOR SALE. THIS HOME NEEDS A FULL REHAB BUT IS THE BEST DEAL IN WAUKEGAN! LOCATED ON A NICE BLOCK WITH PEACEFUL SURROUNDINGS, THIS HOME IS READY FOR A NEW OWNER. SOLD AS-IS. THIS IS NOT A BANK SHORT SALE OR FORECLOSURE. GREAT OPPORTUNITY FOR OWNERSHIP AT THIS PRICE. VACANT AND EASY TO SHOW. PLEASE INSPECT PRIOR TO SUBMITTING AN OFFER SINCE WE ARE SELLING "AS-IS". NO SURVEY. DISCLOSURES UNDER ADDITIONAL DOCUMENTS. AGENT HAS AN OWNERSHIP INTEREST IN THE PROPERTY.

Key facts

• 3,125 sq ft lot
• Built 1955
• Listed 3 days

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $110k.

Deal economics

• At list price, monthly cash flow is $604 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $110k).
• Cap rate 13.5% vs local median 4.6% in Waukegan — 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 75/100 on livability (#216 in IL, #4,074 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: employment C-, crime D, schools F.
• Waukegan CUSD 60 (suburban): math 7% / reading 10% proficiency, ranked #587 of 620 in IL (top 95%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 66% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 40 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals at typical pace (median 20d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 948 units permitted in Lake County in 2024 (424 in 5+ unit buildings).
• This rent runs 34% of the median local income ($77k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $761 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 $31k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts; this cycle's ask is 16% above the opening price — seller raised mid-cycle; expect resistance to lowballs.

Risks & watch-outs

• Watch-outs: property tax is 4.5% of price; flood insurance adds $56/mo; built in 1955 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $110,000

Questions for the listing agent

1. Built in 1955 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
7. 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.
8. 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.
9. 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: 1.95% ✓
• Cap rate: 13.49%
• Cash-on-cash: 25.69%
• DSCR: 2.14
• GRM: 4.3

CMA / ARV

• ARV (on-the-fly): $287,712
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2605 N Pine St	0.00mi	3/1.0	1,200 (-7%)	2mo	$110,000	$92	86
2637 Yeoman St	0.11mi	3/1.0	1,248 (-4%)	10mo	$191,500	$153	80
2426 N Butrick St	0.24mi	3/2.0	1,331 (+3%)	3mo	$315,000	$237	78
2432 Yeoman St	0.21mi	4/1.5 (+1)	1,211 (-7%)	1mo	$317,000	$262	72
2540 E Bonnie Brook Ln	0.36mi	3/2.5	1,200 (-7%)	1mo	$290,000	$242	64
2239 Walnut St	0.57mi	3/1.0	1,350 (+4%)	4mo	$300,000	$222	63
1801 Partridge St	0.33mi	2/1.5 (-1)	1,268 (-2%)	14mo	$160,000	$126	63
2130 Hawthorne Ln	0.57mi	3/1.5	1,398 (+8%)	0mo	$247,000	$177	58
2820 N Elmwood Ave	0.38mi	3/1.0	1,118 (-14%)	4mo	$254,900	$228	56
2113 Walnut St	0.71mi	3/1.0	1,266 (-2%)	8mo	$242,500	$192	56
2211 N Jackson St	0.65mi	4/2.0 (+1)	1,362 (+5%)	15mo	$300,000	$220	40
2232 Walnut St	0.56mi	4/2.0 (+1)	1,141 (-12%)	7mo	$315,500	$277	39

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: 16.8%
• Equity multiple: 1.68×
• Total profit: $20,867
• Equity at exit: $16,401

10-year hold

• IRR: 25.4%
• Equity multiple: 3.23×
• Total profit: $68,644
• Equity at exit: $9,511

Cash invested: $30,800 (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 60087

• Home prices YoY: -20.3%
• Active inventory: 40
• Price-to-rent: 4.3×

Monthly cashflow live

• Estimated rent: $2,144 high
• Mortgage (P&I): −$577
• Tax from tax record: −$412 /mo · $4,940/yr
• Insurance: −$46
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$450
• Net cashflow: $604

Break-even live

Break-even rent $1,380

Max offer price $110,000

Occupancy floor 67%

Sensitivity live

Price	-10% $666	-5% $635	+0% $604	+5% $573	+10% $542
Rent	-10% $434	-5% $519	+0% $604	+5% $688	+10% $773
Rate	-1.0pp $659	-0.5pp $632	base $604	+0.5pp $575	+1.0pp $546

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: $27,500
• Closing costs: $3,300
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2330 Samson Way Waukegan, IL	1.0–3.0	1.0–2.0	1129	$2,065	$1.83	2d	11	0.37mi
2317 Western Ave Unit 2319 Waukegan, IL	3.0	1.0	1200	$2,950	$2.46	25d	1	0.44mi
2108 Linden Ave Waukegan, IL	3.0	2.0	1326	$2,251	$1.70	5d	1	0.69mi
1630 W Greenwood Ave Waukegan, IL	3.0	2.0	1062	$2,250	$2.12	19d	1	0.97mi
2100 Williamsburg Dr Unit 302 Waukegan, IL	2.0	1.0	950	$1,400	$1.47	44d	1	1.17mi
1947 W Eagle Ridge Dr Waukegan, IL	1.0–2.0	1.0–2.0	792	$1,740	$2.20	2d	8	1.33mi

Listing history 8 events

1. 2026-04-29
   soldstatus $110,000
2. 2026-04-07
   status Pending
3. 2026-04-06
   status Active
4. 2026-04-06
   price $110,000
5. 2026-03-19
   status Pending
6. 2026-03-17
   listed $95,000 Active
7. 1987-07-01
   soldstatus $45,400
8. 1986-05-01
   soldstatus $42,236

ⓘ 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: $4,940 · $412/mo
• Projected year-2 tax: $4,940 · $412/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Climate risk First Street

• 🌊 Flood 7/10 Severe FEMA zone X (shaded) · 77% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 2/10 Low 7 d/yr ≥97°F today · 13 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $25,727
• − Mortgage interest: −$6,162
• − Property taxes: −$4,940
• − Insurance: −$1,216
• − Repairs & maintenance: −$2,058
• − Management: −$2,058
• − Depreciation: −$3,200
• Taxable income: $6,093
• Est. tax owed @ 24.0%: −$1,462
• After-tax cash flow: $5,783/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: Waukegan CUSD 60
• NCES district ID: 1741250
• Math proficiency: 7% ▼ -8.00%
• Reading proficiency: 10% ▼ -8.00%
• Median HH income: $43,248
• Composite: 7.73/100
• National rank: #9939
• State rank: #587 of 620 in IL

Livability — Waukegan

• Score: 75/100
• State rank: #216
• US rank: #4074

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Waukegan, IL
• County: Lake County · 591,991 people
• City population: 99,634
• Metro: Chicago-Naperville-Elgin, IL-IN-WI
• Population (ZIP): 27,293
• Household income: $76,738
• Rent vs Own: 40.1% rent · 59.9% own
• Severe rent burden: 894.0

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: Diverse neighborhood (Simpson 0.60)
• Race & ethnicity: Hispanic / Latino 56% White 25% Two or more races 20% Black 15% Asian 3% Native American 2%
• Hispanic origin (detail): Mexican 40% Puerto Rican 7%
• Common ancestry: Romanian 2% Italian 1% Slovak 1%
• Foreign-born: 25% · Canada, United Kingdom
• Languages at home: 49% English-only · Spanish 46% French/Haitian/Cajun 1% 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: ▼ -62.05%
• Current HPI: 243.1613
• 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

+160.4% since first listed

8 events — show timeline

• 2026-04-29 Sold (Public Records) $110,000 Public Records
• 2026-04-07 Pending — MRED as Distributed by MLS Grid
• 2026-04-06 Relisted — MRED as Distributed by MLS Grid
• 2026-04-06 Price Changed $110,000 MRED as Distributed by MLS Grid
• 2026-03-19 Pending — MRED as Distributed by MLS Grid
• 2026-03-17 Listed $95,000 MRED as Distributed by MLS Grid
• 1987-07-01 Sold (Public Records) $45,400 Public Records
• 1986-05-01 Sold (Public Records) $42,236 Public Records

Property tax history

+1.4%/yr

Latest (2024): $4,940 · +1.9% YoY. Source: county tax records.