7 Woodhead Dr · Lake Villa, IL 60046

$355,000

3 bd · 3.0 ba · 2,460 sqft · SingleFamily public records · 97 Days on market

Built 1979 10,493 sqft lot $144/sqft · 31% below area Est $381k · 7% under

---

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).

• ARV discount +10.5/15.0
• Cash flow +7.5/30.0
• Livability +4.2/5.0
• Schools +3.6/10.0
• 1% rule +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +1.6/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome home to this massive ranch home with a finished basement! So many updates here! Freshly painted exterior, newer appliances, quartz kitchen counter-tops, refinished hardwood floors, freshly painted including doors and trim, smart ceiling fans, and a newer sump pump. The living room and dining room open up seamlessness and combine for tons of natural light. In the kitchen you'll find beautiful, modern countertops, plenty of cabinet space, and a huge skylight keeping the room nice and bright. Off the kitchen you'll find a huge three seasons room perfect for autumn nights and entertaining. The bedrooms are all generously sized with the master featuring a walk-in closet and a private full bathroom. The basement is fully finished and features two additional bedrooms, a full bathroom, and a small crawl space for extra storage. This home also features a fenced-in private back yard with a shed, an attached 2 car garage, and TWO wood burning fireplaces. Great location- just a short walk to Deep Lake, close to shopping, restaurants, and IL Route 45.

Key facts

• Finished basement
• Three seasons room
• Smart ceiling fans

Tags

• FINISHED BASEMENT
• QUARTZ KITCHEN COUNTER-TOPS
• REFINISHED HARDWOOD FLOORS
• SMART CEILING FANS
• HUGE SKYLIGHT
• THREE SEASONS ROOM

What this means for you Summary

Snapshot

• This is a 3-bed/3.0-bath single-family listed at $355k.

Deal economics

• At list price, monthly cash flow is $-443 ($-5k/yr) — negative.
• To cash-flow at today's rent, offer at most $277k (22.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $276k (22.2% below list).
• Recommended offer: $276k (22.2% below list) — sets the bar for 1% rule.
• Cap rate 4.8% vs local median 3.2% in Lake Villa — 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 83/100 on livability (#42 in IL, #889 nationally) — a professional / high-income tenant draw. Strengths: crime A+, employment A+, housing A+; Watch: amenities F, commute D-.
• 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.
• Market conditions: 89 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 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 $2k of loan paydown is wiped out by about $11k 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

• It's been on market 97 days — a 9% lower offer ($323k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 5y 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.
• Current owner paid $223k; list at $355k implies a 59% gain — meaningful room to come down on a strong offer.

Recommended offer $276,045 (22.2% 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. It's been on market 97 days. Have you received any prior offers? Is the seller open to a 22% concession, seller financing, or rate buy-down credit?
3. Built in 1979 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
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 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: 0.78% ✗
• Cap rate: 4.80%
• Cash-on-cash: -5.35%
• DSCR: 0.76
• GRM: 10.7

CMA / ARV

• ARV (median comp): $380,689
• List price: $355,000
• Delta: -6.75%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
204 N Crooked Lake Ln	0.33mi	4/2.5 (+1)	2,428 (-1%)	2mo	$427,000	$176	74
102 N Crooked Lake Ln	0.23mi	3/2.5	2,266 (-8%)	1mo	$395,000	$174	74
3 Woodhead Dr	0.01mi	3/2.5	2,174 (-12%)	6mo	$391,000	$180	73
157 N Crooked Lake Ln	0.26mi	3/2.5	2,266 (-8%)	2mo	$390,000	$172	71
11 Woodhead Dr	0.01mi	3/3.5	2,091 (-15%)	9mo	$350,000	$167	65
321 Hampton Ct	0.53mi	3/2.5	2,542 (+3%)	10mo	$389,000	$153	59
234 N Crooked Lake Ln	0.38mi	4/3.5 (+1)	2,266 (-8%)	8mo	$400,000	$177	56
707 Park Ave	0.56mi	3/3.0	2,634 (+7%)	16mo	$410,000	$156	49
443 N Crooked Lake Ln	0.57mi	3/2.5	2,300 (-6%)	16mo	$345,000	$150	48
1013 Park Ave	0.61mi	4/3.0 (+1)	2,755 (+12%)	5mo	$460,000	$167	43
464 N Crooked Lake Ln	0.61mi	3/2.0	2,128 (-14%)	7mo	$399,900	$188	39
Park Ave	0.67mi	4/2.0 (+1)	2,216 (-10%)	10mo	$399,900	$180	35

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: -25.4%
• Equity multiple: 0.14×
• Total profit: $-85,583
• Equity at exit: $52,932

10-year hold

• IRR: -21.4%
• Equity multiple: -0.11×
• Total profit: $-110,248
• Equity at exit: $30,694

Cash invested: $99,400 (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 60046

• Active inventory: 89
• Price-to-rent: 10.7×

Monthly cashflow live

• Estimated rent: $2,760 medium
• Mortgage (P&I): −$1,862
• Tax from tax record: −$614 /mo · $7,368/yr
• Insurance: −$148
• HOA: −$0
• Vacancy / Maint / Mgmt: −$580
• Net cashflow: $-443

Break-even live

Break-even rent $3,321

Max offer price $276,772

Occupancy floor —

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: $88,750
• Closing costs: $10,650
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
59 Chestnut Cir Lindenhurst, IL	3.0	2.0	1800	$3,100	$1.72	43d	1	1.38mi

Listing history 36 events

1. 2026-06-18
   days on market $355,000 Active 97 DOM
2. 2026-06-17
   days on market $355,000 Active 96 DOM
3. 2026-06-16
   days on market $355,000 Active 95 DOM
4. 2026-06-15
   days on market $355,000 Active 94 DOM
5. 2026-06-13
   days on market $355,000 Active 92 DOM
6. 2026-06-13
   days on market $355,000 Active 91 DOM
7. 2026-06-09
   days on market $355,000 Active 88 DOM
8. 2026-06-08
   days on market $355,000 Active 87 DOM
9. 2026-06-07
   days on market $355,000 Active 86 DOM
10. 2026-06-04
    days on market $355,000 Active 83 DOM
11. 2026-06-03
    days on market $355,000 Active 82 DOM
12. 2026-06-02
    pricedays on market $355,000 Active 81 DOM
13. 2026-06-01
    days on market $365,000 Active 80 DOM
14. 2026-05-31
    days on market $365,000 Active 79 DOM
15. 2026-05-18
    status Active 1062-char remark

    Show marketing remark (1062 chars)

    Welcome home to this massive ranch home with a finished basement! So many updates here! Freshly painted exterior, newer appliances, quartz kitchen counter-tops, refinished hardwood floors, freshly painted including doors and trim, smart ceiling fans, and a newer sump pump. The living room and dining room open up seamlessness and combine for tons of natural light. In the kitchen you'll find beautiful, modern countertops, plenty of cabinet space, and a huge skylight keeping the room nice and bright. Off the kitchen you'll find a huge three seasons room perfect for autumn nights and entertaining. The bedrooms are all generously sized with the master featuring a walk-in closet and a private full bathroom. The basement is fully finished and features two additional bedrooms, a full bathroom, and a small crawl space for extra storage. This home also features a fenced-in private back yard with a shed, an attached 2 car garage, and TWO wood burning fireplaces. Great location- just a short walk to Deep Lake, close to shopping, restaurants, and IL Route 45.

16. 2026-05-12
    historical Contingent - Continue to Show 1062-char remark

    Show marketing remark (1062 chars)

    Welcome home to this massive ranch home with a finished basement! So many updates here! Freshly painted exterior, newer appliances, quartz kitchen counter-tops, refinished hardwood floors, freshly painted including doors and trim, smart ceiling fans, and a newer sump pump. The living room and dining room open up seamlessness and combine for tons of natural light. In the kitchen you'll find beautiful, modern countertops, plenty of cabinet space, and a huge skylight keeping the room nice and bright. Off the kitchen you'll find a huge three seasons room perfect for autumn nights and entertaining. The bedrooms are all generously sized with the master featuring a walk-in closet and a private full bathroom. The basement is fully finished and features two additional bedrooms, a full bathroom, and a small crawl space for extra storage. This home also features a fenced-in private back yard with a shed, an attached 2 car garage, and TWO wood burning fireplaces. Great location- just a short walk to Deep Lake, close to shopping, restaurants, and IL Route 45.

17. 2026-05-01
    status Active 1062-char remark

    Show marketing remark (1062 chars)

    Welcome home to this massive ranch home with a finished basement! So many updates here! Freshly painted exterior, newer appliances, quartz kitchen counter-tops, refinished hardwood floors, freshly painted including doors and trim, smart ceiling fans, and a newer sump pump. The living room and dining room open up seamlessness and combine for tons of natural light. In the kitchen you'll find beautiful, modern countertops, plenty of cabinet space, and a huge skylight keeping the room nice and bright. Off the kitchen you'll find a huge three seasons room perfect for autumn nights and entertaining. The bedrooms are all generously sized with the master featuring a walk-in closet and a private full bathroom. The basement is fully finished and features two additional bedrooms, a full bathroom, and a small crawl space for extra storage. This home also features a fenced-in private back yard with a shed, an attached 2 car garage, and TWO wood burning fireplaces. Great location- just a short walk to Deep Lake, close to shopping, restaurants, and IL Route 45.

18. 2026-04-24
    historical Contingent - Continue to Show 1062-char remark

    Show marketing remark (1062 chars)

    Welcome home to this massive ranch home with a finished basement! So many updates here! Freshly painted exterior, newer appliances, quartz kitchen counter-tops, refinished hardwood floors, freshly painted including doors and trim, smart ceiling fans, and a newer sump pump. The living room and dining room open up seamlessness and combine for tons of natural light. In the kitchen you'll find beautiful, modern countertops, plenty of cabinet space, and a huge skylight keeping the room nice and bright. Off the kitchen you'll find a huge three seasons room perfect for autumn nights and entertaining. The bedrooms are all generously sized with the master featuring a walk-in closet and a private full bathroom. The basement is fully finished and features two additional bedrooms, a full bathroom, and a small crawl space for extra storage. This home also features a fenced-in private back yard with a shed, an attached 2 car garage, and TWO wood burning fireplaces. Great location- just a short walk to Deep Lake, close to shopping, restaurants, and IL Route 45.

19. 2026-03-29
    status Active 1062-char remark

    Show marketing remark (1062 chars)

    Welcome home to this massive ranch home with a finished basement! So many updates here! Freshly painted exterior, newer appliances, quartz kitchen counter-tops, refinished hardwood floors, freshly painted including doors and trim, smart ceiling fans, and a newer sump pump. The living room and dining room open up seamlessness and combine for tons of natural light. In the kitchen you'll find beautiful, modern countertops, plenty of cabinet space, and a huge skylight keeping the room nice and bright. Off the kitchen you'll find a huge three seasons room perfect for autumn nights and entertaining. The bedrooms are all generously sized with the master featuring a walk-in closet and a private full bathroom. The basement is fully finished and features two additional bedrooms, a full bathroom, and a small crawl space for extra storage. This home also features a fenced-in private back yard with a shed, an attached 2 car garage, and TWO wood burning fireplaces. Great location- just a short walk to Deep Lake, close to shopping, restaurants, and IL Route 45.

20. 2026-03-27
    historical Contingent - Continue to Show 1062-char remark

    Show marketing remark (1062 chars)

    Welcome home to this massive ranch home with a finished basement! So many updates here! Freshly painted exterior, newer appliances, quartz kitchen counter-tops, refinished hardwood floors, freshly painted including doors and trim, smart ceiling fans, and a newer sump pump. The living room and dining room open up seamlessness and combine for tons of natural light. In the kitchen you'll find beautiful, modern countertops, plenty of cabinet space, and a huge skylight keeping the room nice and bright. Off the kitchen you'll find a huge three seasons room perfect for autumn nights and entertaining. The bedrooms are all generously sized with the master featuring a walk-in closet and a private full bathroom. The basement is fully finished and features two additional bedrooms, a full bathroom, and a small crawl space for extra storage. This home also features a fenced-in private back yard with a shed, an attached 2 car garage, and TWO wood burning fireplaces. Great location- just a short walk to Deep Lake, close to shopping, restaurants, and IL Route 45.

21. 2026-03-13
    listed $365,000 Active 1062-char remark

    Show marketing remark (1062 chars)

    Welcome home to this massive ranch home with a finished basement! So many updates here! Freshly painted exterior, newer appliances, quartz kitchen counter-tops, refinished hardwood floors, freshly painted including doors and trim, smart ceiling fans, and a newer sump pump. The living room and dining room open up seamlessness and combine for tons of natural light. In the kitchen you'll find beautiful, modern countertops, plenty of cabinet space, and a huge skylight keeping the room nice and bright. Off the kitchen you'll find a huge three seasons room perfect for autumn nights and entertaining. The bedrooms are all generously sized with the master featuring a walk-in closet and a private full bathroom. The basement is fully finished and features two additional bedrooms, a full bathroom, and a small crawl space for extra storage. This home also features a fenced-in private back yard with a shed, an attached 2 car garage, and TWO wood burning fireplaces. Great location- just a short walk to Deep Lake, close to shopping, restaurants, and IL Route 45.

22. 2022-11-14
    historical
23. 2022-10-12
    price
24. 2022-09-23
    listed Active
25. 2022-05-11
    soldstatus $223,000
26. 2022-05-09
    soldstatus $223,000 Closed
27. 2022-03-25
    historical Contingent - Continue to Show
28. 2022-03-22
    status Active
29. 2022-02-18
    historical Contingent - No Showings
30. 2022-02-18
    status Active
31. 2022-01-19
    status Active Under Contract
32. 2022-01-19
    historical
33. 2022-01-16
    price $222,999
34. 2022-01-03
    price $229,999
35. 2021-11-02
    price $239,999
36. 2021-10-08
    listed $249,999 Active

ⓘ 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: $7,368 · $614/mo
• Projected year-2 tax: $7,713 · $643/mo
• Expected delta: +$345/yr (+$29/mo · 4.7%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 2/10 Low 7 d/yr ≥101°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: $33,125
• − Mortgage interest: −$19,886
• − Property taxes: −$7,368
• − Insurance: −$1,775
• − Repairs & maintenance: −$2,650
• − Management: −$2,650
• − Depreciation: −$10,327
• Taxable loss: −$11,531
• Est. tax savings @ 24.0%: +$2,767
• After-tax cash flow: $-2,547/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 — Lake Villa

• Score: 83/100
• State rank: #42
• US rank: #889

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lake Villa, IL
• County: Lake County · 591,991 people
• City population: 34,708
• 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

+46.0% since first listed

22 events — show timeline

• 2026-05-18 Relisted — MRED as Distributed by MLS Grid
• 2026-05-12 Contingent — MRED as Distributed by MLS Grid
• 2026-05-01 Relisted — MRED as Distributed by MLS Grid
• 2026-04-24 Contingent — MRED as Distributed by MLS Grid
• 2026-03-29 Relisted — MRED as Distributed by MLS Grid
• 2026-03-27 Contingent — MRED as Distributed by MLS Grid
• 2026-03-13 Listed $365,000 MRED as Distributed by MLS Grid
• 2022-11-14 Listing Removed — MRED as Distributed by MLS Grid
• 2022-10-12 Price Changed — MRED as Distributed by MLS Grid
• 2022-09-23 Listed — MRED as Distributed by MLS Grid
• 2022-05-11 Sold (Public Records) $223,000 Public Records
• 2022-05-09 Sold (MLS) $223,000 MRED as Distributed by MLS Grid
• 2022-03-25 Contingent — MRED as Distributed by MLS Grid
• 2022-03-22 Relisted — MRED as Distributed by MLS Grid
• 2022-02-18 Contingent — MRED as Distributed by MLS Grid
• 2022-02-18 Relisted — MRED as Distributed by MLS Grid
• 2022-01-19 Pending — MRED as Distributed by MLS Grid
• 2022-01-19 Listing Removed — MRED as Distributed by MLS Grid
• 2022-01-16 Price Changed $222,999 MRED as Distributed by MLS Grid
• 2022-01-03 Price Changed $229,999 MRED as Distributed by MLS Grid
• 2021-11-02 Price Changed $239,999 MRED as Distributed by MLS Grid
• 2021-10-08 Listed $249,999 MRED as Distributed by MLS Grid

Property tax history

+1.5%/yr

Latest (2024): $7,368 · +5.6% YoY. Source: county tax records.