280 Misty Rdg · Lakemoor, IL 60051

$130,000

2 bd · 1.0 ba · 400 sqft · SingleFamily public records · 72 Days on market

Built 1999 4,251 sqft lot $58/mo HOA · 4% of rent

---

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 +25.1/30.0
• Appreciation +10.0/10.0
• DSCR +8.2/10.0
• ARV discount +7.5/15.0
• 1% rule +6.4/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0

Listing remarks MLS

Welcome to this cozy 2-bedroom, 1-bathroom manufactured home nestled in a peaceful community! This property includes the land providing long-term value and flexibility. Featuring a newer roof, functional layout, and a spacious shed for extra storage. While the home needs some updates, it's full of promise-and with a little vision and effort, it can become the perfect retreat or full-time residence. Schedule your appointment today and bring your imagination!

Key facts

• 4,251 sq ft lot
• 4 parking spots
• Community pool

Property features AI

Finance

• Other: Fee simple ownership with homeowners association; Lot size less than 0.25 acre (survey source)
• HOA & community: Annual association fee of $700; Association fee covers water, clubhouse, pool, and scavenger service; Community amenities include clubhouse, park, pool, tennis courts, and paved streets

Exterior

• Parking: Space for 4 vehicles; Asphalt driveway (owned)
• Utilities: Shared well water; Septic tank sewer; 100 amp electric service
• Home design: Detached single-family manufactured home; Approximately 26–30 years old; Entry and main living on one level
• Construction: Vinyl siding; Asphalt roof; Block and other foundation types
• Exterior features: Deck; Fenced yard; Level lot; Water view

Interior

• Kitchen: Range; Microwave; Refrigerator; Range hood
• Bedrooms: Two bedrooms (both on main level); Master bedroom on the main level with full bath
• Flooring: Laminate flooring throughout main living areas and bedrooms; Hardwood flooring in the kitchen
• Bathrooms: One full bathroom
• Heating & cooling: Electric heating; Central air conditioning with dual-zone capability
• Interior features: Open floorplan; First-floor bedroom; Five total rooms
• Laundry & utility: Dedicated laundry room; Electric water heater; Air purifier

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $130k.

Deal economics

• At list price, monthly cash flow is $289 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $130k).
• Recommended offer: $122k (6.0% below list) — sets the bar for market timing.
• Cap rate 9.0% vs local median 3.9% in Lakemoor — 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 72/100 on livability (#317 in IL) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, health & safety A-; Watch: amenities F, commute 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: 152 active listings in the ZIP; 948 units permitted in Lake County in 2024 (424 in 5+ unit buildings).

Forward outlook

• In year one you build about $14k of equity ($899 loan paydown + $13k appreciation (10.0% local appreciation)).
• Lake County population projected to shrink 8% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $36k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 72 days — a 6% lower offer ($122k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $17k (12%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $65k; list at $130k implies a 100% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $122,200 (6.0% below list)

Questions for the listing agent

1. It's been on market 72 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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. 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.
7. 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.
8. 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: 1.14% ✓
• Cap rate: 8.96%
• Cash-on-cash: 9.53%
• DSCR: 1.42
• GRM: 7.3

CMA / ARV

• ARV (on-the-fly): $72,400
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
282 Misty Rdg	0.02mi	1/1.0 (-1)	396 (-1%)	12mo	$66,500	$168	82
73 Beacon Bay	0.22mi	1/1.0 (-1)	402 (+0%)	20mo	$58,000	$144	67
253 Misty Rdg	0.09mi	2/1.0	456 (+14%)	17mo	$82,500	$181	58
44 Beacon Bay	0.22mi	1/1.0 (-1)	350 (-12%)	19mo	$86,000	$246	48

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

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 31.2%
• Equity multiple: 3.45×
• Total profit: $89,225
• Equity at exit: $117,114

10-year hold

• IRR: 27.0%
• Equity multiple: 7.82×
• Total profit: $248,301
• Equity at exit: $252,561

Cash invested: $36,400 (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 60051

• Home prices YoY: 4.9%
• Active inventory: 152
• Price-to-rent: 7.3×

Monthly cashflow live

• Estimated rent: $1,483 medium
• Mortgage (P&I): −$682
• Tax from tax record: −$89 /mo · $1,067/yr
• Insurance: −$54
• HOA: −$58
• Vacancy / Maint / Mgmt: −$312
• Net cashflow: $289

Break-even live

Break-even rent $1,118

Max offer price $130,000

Occupancy floor 76%

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: $32,500
• Closing costs: $3,900
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $58 · $696/yr

Listing history 20 events

1. 2026-06-18
   days on market $130,000 Active 72 DOM
2. 2026-06-17
   statusdays on market $130,000 Active 71 DOM
3. 2026-06-16
   days on market $130,000 Contingent - No Showings 70 DOM
4. 2026-06-15
   days on market $130,000 Contingent - No Showings 69 DOM
5. 2026-06-13
   days on market $130,000 Contingent - No Showings 67 DOM
6. 2026-06-09
   days on market $130,000 Contingent - No Showings 63 DOM
7. 2026-06-08
   days on market $130,000 Contingent - No Showings 62 DOM
8. 2026-06-07
   days on market $130,000 Contingent - No Showings 61 DOM
9. 2026-06-04
   days on market $130,000 Contingent - No Showings 58 DOM
10. 2026-06-03
    days on market $130,000 Contingent - No Showings 57 DOM
11. 2026-06-02
    days on market $130,000 Contingent - No Showings 56 DOM
12. 2026-06-01
    days on market $130,000 Contingent - No Showings 55 DOM
13. 2026-05-31
    days on market $130,000 Contingent - No Showings 54 DOM
14. 2026-04-30
    historical Contingent - No Showings
15. 2026-04-24
    price $130,000
16. 2026-04-06
    listed $147,000 Active
17. 2025-10-17
    soldstatus $65,000
18. 2025-10-10
    soldstatus $65,000 Closed 464-char remark

    Show marketing remark (464 chars)

    Welcome to this cozy 2-bedroom, 1-bathroom manufactured home nestled in a peaceful community! This property includes the land providing long-term value and flexibility. Featuring a newer roof, functional layout, and a spacious shed for extra storage. While the home needs some updates, it's full of promise-and with a little vision and effort, it can become the perfect retreat or full-time residence. Schedule your appointment today and bring your imagination!

19. 2025-09-24
    historical Contingent - No Showings 464-char remark

    Show marketing remark (464 chars)

    Welcome to this cozy 2-bedroom, 1-bathroom manufactured home nestled in a peaceful community! This property includes the land providing long-term value and flexibility. Featuring a newer roof, functional layout, and a spacious shed for extra storage. While the home needs some updates, it's full of promise-and with a little vision and effort, it can become the perfect retreat or full-time residence. Schedule your appointment today and bring your imagination!

20. 2025-09-16
    listed $63,000 Active 464-char remark

    Show marketing remark (464 chars)

    Welcome to this cozy 2-bedroom, 1-bathroom manufactured home nestled in a peaceful community! This property includes the land providing long-term value and flexibility. Featuring a newer roof, functional layout, and a spacious shed for extra storage. While the home needs some updates, it's full of promise-and with a little vision and effort, it can become the perfect retreat or full-time residence. Schedule your appointment today and bring your imagination!

ⓘ 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: $1,067 · $89/mo
• Projected year-2 tax: $2,009 · $167/mo
• Expected delta: +$942/yr (+$78/mo · 88.3%)

ⓘ 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 5/10 Major
• 🌡 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 · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,801
• − Mortgage interest: −$7,282
• − Property taxes: −$1,067
• − Insurance: −$650
• − Repairs & maintenance: −$1,424
• − Management: −$1,424
• − HOA: −$696
• − Depreciation: −$3,782
• Taxable income: $1,476
• Est. tax owed @ 24.0%: −$354
• After-tax cash flow: $3,115/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 — Lakemoor

• Score: 72/100
• State rank: #317
• US rank: #6294

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lakemoor, IL
• Population (ZIP): 23,931

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 (84%)
• Race & ethnicity: White 84% Hispanic / Latino 10% Two or more races 6% Asian 2%
• Hispanic origin (detail): Mexican 8%
• Common ancestry: Romanian 12% Slovak 2% Lithuanian 2%
• Foreign-born: 5% · Canada
• Languages at home: 92% English-only · Spanish 5% Other Indo-European 2% Russian/Polish/Slavic 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: ▲ 28.50%
• Current HPI: 612.07
• 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

+106.3% since first listed

7 events — show timeline

• 2026-04-30 Contingent — MRED as Distributed by MLS Grid
• 2026-04-24 Price Changed $130,000 MRED as Distributed by MLS Grid
• 2026-04-06 Listed $147,000 MRED as Distributed by MLS Grid
• 2025-10-17 Sold (Public Records) $65,000 Public Records
• 2025-10-10 Sold (MLS) $65,000 MRED as Distributed by MLS Grid
• 2025-09-24 Contingent — MRED as Distributed by MLS Grid
• 2025-09-16 Listed $63,000 MRED as Distributed by MLS Grid

Property tax history

+4.7%/yr

Latest (2024): $1,067 · +11.4% YoY. Source: county tax records.