3279 N Palmieri Cir · Park City, IL 60085

$64,000

2 bd · 1.0 ba · 938 sqft · Manufactured · 5 Days on market

Built 1978

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.5/5.0
• Rent growth +3.3/5.0
• Condition / age +2.5/5.0
• Schools +0.8/10.0
• Appreciation +0.0/10.0

Listing remarks

UPDATED & amp; MOVE-IN READY! - 2 bed / 1 bath home Mobile Home ?? 55+ Community Welcome to one of the best values in this 55+ community! This updated 2-bedroom, 1-bath home blends modern style with comfort and major mechanical upgrades, giving you a peace of mind living experience. ???Features you & acirc; & euro; & trade; ll love: ?New HVAC system-providing efficiency & amp; reliability ?Upgraded Electrical-providing peace of mind ?Vinyl Windows & amp; Floor-modern and low maintenance ?Freshly Painted Interior-completely move-in ready ?Stainless Steel Appliances ?Washer & amp; Dryer - included for convenience Bonus: ??Fireplace - perfect for Relaxing or Ente

Key facts

• Natural lighting
• Vinyl windows
• Upgraded electrical

Tags

• NEW HVAC SYSTEM
• UPGRADED ELECTRICAL
• VINYL WINDOWS
• STAINLESS STEEL APPLIANCES
• FIREPLACE
• NATURAL LIGHTING

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $64k.

Deal economics

• At list price, monthly cash flow is $812 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $64k).

Location & tenants

• Location reads 70/100 on livability (#360 in IL) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, health & safety A-; Watch: employment D, schools F, crime D-.
• 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: Rents rising (+3.2%/yr); 86 active listings in the ZIP; 12 comparable units currently listed for rent nearby; rentals leasing fast (median 11d on market — plan ~1-2 weeks tenant-placement turnaround); 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 $442 of loan paydown is wiped out by about $2k 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 + 3.2% rent growth), your $18k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• 6 sale attempts since 12y 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 $10k; list at $64k implies a 574% gain — meaningful room to come down on a strong offer.

Recommended offer $64,000

Questions for the listing agent

1. Built in 1978 — 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. 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?
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: 2.48% ✓
• Cap rate: 21.52%
• Cash-on-cash: 54.40%
• DSCR: 3.42
• GRM: 3.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.24% rent growth · sell at horizon

5-year hold

• IRR: 52.9%
• Equity multiple: 3.33×
• Total profit: $41,778
• Equity at exit: $9,543

10-year hold

• IRR: 58.2%
• Equity multiple: 6.84×
• Total profit: $104,686
• Equity at exit: $5,534

Cash invested: $17,920 (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 60085

• Rents YoY: 3.2%
• Active inventory: 86
• Price-to-rent: 3.4×

Monthly cashflow live

• Estimated rent: $1,588 high
• Mortgage (P&I): −$336
• Tax est. 1.5%: −$80 /mo · $960/yr
• Insurance: −$27
• HOA: −$0
• Vacancy / Maint / Mgmt: −$334
• Net cashflow: $812

Break-even live

Break-even rent $560

Max offer price $64,000

Occupancy floor 44%

Sensitivity live

Price	-10% $857	-5% $834	+0% $812	+5% $790	+10% $768
Rent	-10% $687	-5% $750	+0% $812	+5% $875	+10% $938
Rate	-1.0pp $845	-0.5pp $829	base $812	+0.5pp $796	+1.0pp $779

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: $16,000
• Closing costs: $1,920
• Reserves months: —
• Total cash needed: —

Rent comps 12 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3690 Casimer Pulaski Dr Waukegan, IL	1.0–2.0	1.0	750	$1,349	$1.80	2d	2	0.69mi
1375 S White Oak Dr Waukegan, IL	1.0–2.0	1.0–2.0	915	$2,412	$2.64	2d	10	0.87mi
3060 Kathe Ln Waukegan, IL	1.0	1.0	685	$1,175	$1.72	2d	1	1.16mi
500 Lakehurst Rd Waukegan, IL	1.0–3.0	1.0–1.5	880	$1,586	$1.80	2d	15	1.16mi
338 N Green Bay Rd Unit 1102 Waukegan, IL	2.0	1.0	975	$1,500	$1.54	2d	1	1.38mi
1724 Green Bay Rd North Chicago, IL	2.0	2.0	960	$1,875	$1.95	8d	1	1.39mi
1724 Green Bay Rd North Chicago, IL	2.0	2.0	960	$1,875	$1.95	11d	1	1.39mi
116 Drew Ln #10 Waukegan, IL	2.0	1.0	800	$1,350	$1.69	44d	1	1.40mi
124 Drew Ln #7 Waukegan, IL	2.0	1.0	800	$1,350	$1.69	25d	1	1.42mi
124 Drew Ln #11 Waukegan, IL	2.0	1.0	800	$1,350	$1.69	44d	1	1.42mi
108 N McAree Rd Unit BD Waukegan, IL	2.0	1.0	900	$1,450	$1.61	44d	1	1.43mi
2645 W Monroe St #1 Waukegan, IL	2.0	1.0	800	$1,350	$1.69	44d	1	1.44mi

Listing history 5 events

1. 2026-06-18
   days on market $64,000 Active 5 DOM
2. 2026-06-17
   days on market $64,000 Active 4 DOM
3. 2026-06-16
   days on market $64,000 Active 3 DOM
4. 2026-06-15
   remarks 671-char remark
5. 2026-06-15
   listed $64,000 Active 2 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: $19,058
• − Mortgage interest: −$3,585
• − Property taxes: −$960
• − Insurance: −$320
• − Repairs & maintenance: −$1,525
• − Management: −$1,525
• − Depreciation: −$1,862
• Taxable income: $9,282
• Est. tax owed @ 24.0%: −$2,228
• After-tax cash flow: $7,521/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 — Park City

• Score: 70/100
• State rank: #360
• US rank: #7399

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Park City, IL
• County: Lake County · 591,991 people
• Metro: Chicago-Naperville-Elgin, IL-IN-WI
• Population (ZIP): 72,341
• Household income: $66,793
• Rent vs Own: 51.8% rent · 48.2% own
• Severe rent burden: 2742.0

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 0.57)
• Race & ethnicity: Hispanic / Latino 62% Two or more races 24% Black 14% White 14% Asian 6% Native American 2%
• Hispanic origin (detail): Mexican 51% Puerto Rican 3%
• Common ancestry: Romanian 1% British 1% Portuguese 1%
• Foreign-born: 34% · Canada, Jamaica
• Languages at home: 39% English-only · Spanish 54% Tagalog/Filipino 2% 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: ▼ -114.04%
• Current HPI: 203.6304
• Rent YoY: ▲ 3.24%
• 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

+433.3% since first listed

13 events — show timeline

• 2026-06-14 Listed $64,000 FSBO.com
• 2021-08-02 Listing Removed — MRED as Distributed by MLS Grid
• 2021-07-01 Listed — MRED as Distributed by MLS Grid
• 2019-09-19 Listing Removed — MRED as Distributed by MLS Grid
• 2019-08-12 Listed — MRED as Distributed by MLS Grid
• 2019-08-07 Listing Removed — MRED as Distributed by MLS Grid
• 2019-06-28 Price Changed — MRED as Distributed by MLS Grid
• 2019-06-10 Listed — MRED as Distributed by MLS Grid
• 2015-07-29 Sold (MLS) $9,500 MRED as Distributed by MLS Grid
• 2015-07-23 Pending — MRED as Distributed by MLS Grid
• 2015-05-19 Listed $12,000 MRED as Distributed by MLS Grid
• 2015-02-23 Listing Removed — MRED as Distributed by MLS Grid
• 2014-11-03 Listed — MRED as Distributed by MLS Grid