302 Picadilly Dr · Candlewick Lake, IL 61065

$249,900

3 bd · 1.0 ba · 2,704 sqft · SingleFamily public records · 2 Days on market

Built 2005 0.28 ac lot Est $262k · at est. $146/mo HOA · 3% of rent

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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 +9.6/15.0
• Appreciation +6.6/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.7/10.0

Listing remarks MLS

Lovely bi-level on quiet cul-de-sac in Candlewick Lake. 3 bdrm, 2.5 bath open concept with large kitchen perfect for entertaining. Fully finished lower level to use as 2nd living space or add additional bedrooms. Radon Mitigation installed in 2022, refrigerator new 2022, furnace new in 2020 with remainder of 10-year warranty transferable. Large backyard with hot tub, freshly painted deck and garden shed. HOA fee includes all the benefits of Candlewick Lake including gym, pool, lake access, and community events throughout the year.

Key facts

• Fitness center
• Quiet cul-de-sac
• Large backyard

Tags

• QUIET CUL-DE-SAC
• PRIVATE GATED COMMUNITY
• ACCESS TO CANDLEWICK LAKE
• FITNESS CENTER
• POOL
• LARGE BACKYARD

Property features AI

Finance

• HOA & community: Homeowners association with an annual fee of $1,752 (about $146/month)

Exterior

• Parking: 2-car garage; Asphalt driveway
• Utilities: Public water; Public sewer
• Home design: Single-family residence (house); Residential property
• Exterior features: Shingle roof

Interior

• Kitchen: Gas cooktop; Microwave; Refrigerator; Dishwasher
• Bathrooms: 2 full bathrooms; 1 half bathroom
• Heating & cooling: Forced air heating (natural gas); Central air conditioning
• Interior features: Gas water heater; Full basement
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $250k.

Deal economics

• At list price, monthly cash flow is $2k ($18k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $250k).

Location & tenants

• Location reads 61/100 on livability (#891 in IL) — a middle-class / working-renter tenant base. Strengths: employment A+, cost of living A+, housing A+; Watch: amenities F, commute F, health & safety F.
• North Boone CUSD 200 (rural): math 14% / reading 21% proficiency, ranked #440 of 620 in IL (top 71%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: North Boone Middle School (math 15% / reading 24%, grade F, #425 of 665 statewide, top 65%, 242 students, 0% FRL); North Boone High School (math 12% / reading 22%, grade F, #430 of 693 statewide, top 66%, 517 students, 0% FRL) — zoned schools average 0% FRL vs 35% district-wide (35 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 38 active listings in the ZIP; 56 units permitted in Boone County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $10k of equity ($2k loan paydown + $8k appreciation (3.2% local appreciation)).
• Boone County population projected at -16% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (3.2% appreciation + 3.0% rent growth), your $70k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.
• 6 sale attempts since 7y 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 $190k; 32% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $249,900

Questions for the listing agent

1. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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: 1.75% ✓
• Cap rate: 13.54%
• Cash-on-cash: 25.90%
• DSCR: 2.15
• GRM: 4.8

CMA / ARV

• ARV (on-the-fly): $262,288
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
302 Picadilly Dr	0.00mi	3/2.5	2,704 (0%)	0mo	$252,000	$93	94
119 Liverpool Dr SE	0.11mi	4/2.0 (+1)	2,656 (-2%)	4mo	$225,000	$85	80
116 SE Heath Cliff Dr	0.46mi	3/3.0	2,725 (+1%)	8mo	$250,000	$92	63
102 James Circle Cir SE	0.31mi	4/2.5 (+1)	2,600 (-4%)	14mo	$435,000	$167	56
100 Cornwall Cir	0.34mi	4/2.0 (+1)	2,902 (+7%)	13mo	$238,000	$82	52
103 SE Liverpool Dr	0.20mi	4/2.0 (+1)	2,338 (-14%)	10mo	$248,500	$106	50
110 Liverpool Dr SE	0.16mi	4/3.0 (+1)	2,316 (-14%)	8mo	$238,000	$103	49
204 SE King Henry Rd	0.41mi	3/2.0	2,300 (-15%)	7mo	$224,000	$97	46
114 London Rd	0.24mi	4/2.0 (+1)	2,407 (-11%)	19mo	$220,000	$91	45
218 Candlewick Dr	0.49mi	3/3.0	2,332 (-14%)	11mo	$423,250	$181	37
2104 Candlewick DR Dr SE	0.37mi	3/2.0	2,328 (-14%)	23mo	$200,000	$86	36
334 Candlewick Dr	0.68mi	4/2.5 (+1)	2,900 (+7%)	11mo	$345,000	$119	36

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

3.23% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 32.4%
• Equity multiple: 2.85×
• Total profit: $129,500
• Equity at exit: $115,572

10-year hold

• IRR: 32.5%
• Equity multiple: 5.61×
• Total profit: $322,821
• Equity at exit: $180,645

Cash invested: $69,972 (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 61065

• Home prices YoY: 1.4%
• Active inventory: 38
• Price-to-rent: 4.8×

Monthly cashflow live

• Estimated rent: $4,373 medium
• Mortgage (P&I): −$1,311
• Tax from tax record: −$384 /mo · $4,606/yr
• Insurance: −$104
• HOA: −$146
• Vacancy / Maint / Mgmt: −$918
• Net cashflow: $1,510

Break-even live

Break-even rent $2,461

Max offer price $249,900

Occupancy floor 60%

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: $62,475
• Closing costs: $7,497
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $146 · $1,752/yr
• Likely covers: poolgym

Listing history 16 events

1. 2026-05-20
   status Pending
2. 2026-05-18
   listed $249,900 Active
3. 2023-02-28
   soldstatus $189,900
4. 2023-02-24
   soldstatus $189,900 Closed 536-char remark

   Show marketing remark (536 chars)

   Lovely bi-level on quiet cul-de-sac in Candlewick Lake. 3 bdrm, 2.5 bath open concept with large kitchen perfect for entertaining. Fully finished lower level to use as 2nd living space or add additional bedrooms. Radon Mitigation installed in 2022, refrigerator new 2022, furnace new in 2020 with remainder of 10-year warranty transferable. Large backyard with hot tub, freshly painted deck and garden shed. HOA fee includes all the benefits of Candlewick Lake including gym, pool, lake access, and community events throughout the year.

5. 2023-01-13
   status Pending 536-char remark

   Show marketing remark (536 chars)

   Lovely bi-level on quiet cul-de-sac in Candlewick Lake. 3 bdrm, 2.5 bath open concept with large kitchen perfect for entertaining. Fully finished lower level to use as 2nd living space or add additional bedrooms. Radon Mitigation installed in 2022, refrigerator new 2022, furnace new in 2020 with remainder of 10-year warranty transferable. Large backyard with hot tub, freshly painted deck and garden shed. HOA fee includes all the benefits of Candlewick Lake including gym, pool, lake access, and community events throughout the year.

6. 2022-12-10
   status Active 536-char remark

   Show marketing remark (536 chars)

   Lovely bi-level on quiet cul-de-sac in Candlewick Lake. 3 bdrm, 2.5 bath open concept with large kitchen perfect for entertaining. Fully finished lower level to use as 2nd living space or add additional bedrooms. Radon Mitigation installed in 2022, refrigerator new 2022, furnace new in 2020 with remainder of 10-year warranty transferable. Large backyard with hot tub, freshly painted deck and garden shed. HOA fee includes all the benefits of Candlewick Lake including gym, pool, lake access, and community events throughout the year.

7. 2022-11-25
   status Pending 536-char remark

   Show marketing remark (536 chars)

   Lovely bi-level on quiet cul-de-sac in Candlewick Lake. 3 bdrm, 2.5 bath open concept with large kitchen perfect for entertaining. Fully finished lower level to use as 2nd living space or add additional bedrooms. Radon Mitigation installed in 2022, refrigerator new 2022, furnace new in 2020 with remainder of 10-year warranty transferable. Large backyard with hot tub, freshly painted deck and garden shed. HOA fee includes all the benefits of Candlewick Lake including gym, pool, lake access, and community events throughout the year.

8. 2022-11-19
   listed $189,900 Active 536-char remark

   Show marketing remark (536 chars)

   Lovely bi-level on quiet cul-de-sac in Candlewick Lake. 3 bdrm, 2.5 bath open concept with large kitchen perfect for entertaining. Fully finished lower level to use as 2nd living space or add additional bedrooms. Radon Mitigation installed in 2022, refrigerator new 2022, furnace new in 2020 with remainder of 10-year warranty transferable. Large backyard with hot tub, freshly painted deck and garden shed. HOA fee includes all the benefits of Candlewick Lake including gym, pool, lake access, and community events throughout the year.

9. 2022-05-07
   historical
10. 2022-05-04
    status Active
11. 2022-05-04
    price
12. 2022-03-17
    historical Contingent - Continue to Show
13. 2022-03-15
    listed Active
14. 2019-07-26
    soldstatus $125,000
15. 2019-05-06
    listed $125,000
16. 2011-03-14
    soldstatus $90,000

ⓘ 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: $4,606 · $384/mo
• Projected year-2 tax: $5,140 · $428/mo
• Expected delta: +$533/yr (+$44/mo · 11.6%)

ⓘ 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 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥101°F today · 15 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: $52,475
• − Mortgage interest: −$13,998
• − Property taxes: −$4,606
• − Insurance: −$1,250
• − Repairs & maintenance: −$4,198
• − Management: −$4,198
• − HOA: −$1,752
• − Depreciation: −$7,270
• Taxable income: $15,203
• Est. tax owed @ 24.0%: −$3,649
• After-tax cash flow: $14,473/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: North Boone CUSD 200
• NCES district ID: 1728700
• Math proficiency: 14% ▼ -8.00%
• Reading proficiency: 21% ▼ -12.00%
• Median HH income: $59,553
• Composite: 16.73/100
• National rank: #9163
• State rank: #440 of 620 in IL

Livability — Candlewick Lake

• Score: 61/100
• State rank: #891
• US rank: #17350

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Candlewick Lake, IL
• Population (ZIP): 10,927

Population outlook (Boone County) Hauer SSP2

• Today (2025): 52,507 people
• By 2030: 51,509 · -1.9%
• By 2040: 48,611 · -7.4%
• By 2050: 44,363 · -15.5%
• By 2075: 33,262 · -36.7%
• By 2100: 21,495 · -59.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (76%)
• Race & ethnicity: White 76% Hispanic / Latino 17% Two or more races 10% Black 2%
• Hispanic origin (detail): Mexican 13% Puerto Rican 4%
• Common ancestry: Romanian 10% Portuguese 3% Lithuanian 3%
• Foreign-born: 6% · Canada
• Languages at home: 85% English-only · Spanish 10% Russian/Polish/Slavic 4%

Political lean MEDSL · Boone

• 2024 margin: R (+14.5) · D 42.0% · R 56.5% · Other 1.6%
• 2008→2024 swing: -18.7pp toward R · 2008: 4.2pp · 2024: -14.5pp
• All cycles: 2024: R+14.5 2020: R+13.4 2016: R+14.6 2012: R+5.7 2008: D+4.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 3.23%
• Current HPI: 232.9144
• 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

+177.7% since first listed

16 events — show timeline

• 2026-05-20 Pending — NWIAR
• 2026-05-18 Listed $249,900 NWIAR
• 2023-02-28 Sold (Public Records) $189,900 Public Records
• 2023-02-24 Sold (MLS) $189,900 NWIAR
• 2023-01-13 Pending — NWIAR
• 2022-12-10 Relisted — NWIAR
• 2022-11-25 Pending — NWIAR
• 2022-11-19 Listed $189,900 NWIAR
• 2022-05-07 Listing Removed — MRED as Distributed by MLS Grid
• 2022-05-04 Relisted — MRED as Distributed by MLS Grid
• 2022-05-04 Price Changed — MRED as Distributed by MLS Grid
• 2022-03-17 Contingent — MRED as Distributed by MLS Grid
• 2022-03-15 Listed — MRED as Distributed by MLS Grid
• 2019-07-26 Sold (MLS) $125,000 NWIAR
• 2019-05-06 Listed $125,000 NWIAR
• 2011-03-14 Sold (Public Records) $90,000 Public Records

Property tax history

+3.6%/yr

Latest (2024): $4,606 · -3.5% YoY. Source: county tax records.