38740 N Anderle Ave · Lindenhurst, IL 60046

$160,000

3 bd · 1.0 ba · 795 sqft · SingleFamily public records · 103 Days on market

Built 1917 6,250 sqft lot $201/sqft · 19% below area Est $273k · 41% under

---

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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.9/5.0
• Schools +3.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Build your retreat by the lake. Tons of potential on this 50x125 lot; Northern exposure offers unobstructed view of Crooked Lake. Mature trees on the property. Quiet and private. Minutes from shopping and area restaurants. Drive by only. Sold AS IS.

Key facts

• Unobstructed view
• Northern exposure
• Quiet and private

Tags

• 50X125 LOT
• NORTHERN EXPOSURE
• UNOBSTRUCTED VIEW
• MATURE TREES
• QUIET AND PRIVATE

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $160k.

Deal economics

• At list price, monthly cash flow is $815 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $160k).
• Recommended offer: $146k (9.0% below list) — sets the bar for market timing.
• Cap rate 12.4% vs local median 3.8% in Lindenhurst — 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 77/100 on livability (#165 in IL, #3,036 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: amenities F, commute F.
• 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.
• Zoned schools: B J Hooper Elem School (585 students, 0% FRL); Peter J Palombi School (math 24% / reading 24%, grade F, #332 of 665 statewide, top 55%, 837 students, 0% FRL); Lakes Community High School (math 40% / reading 43%, grade F, #82 of 693 statewide, top 12%, 1,317 students, 0% FRL).
• Market conditions: 84 active listings in the ZIP; 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 $1k of loan paydown is wiped out by about $5k 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 $45k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 103 days — a 9% lower offer ($146k) is reasonable based on typical stale-listing flexibility.
• 9 sale attempts since 8y 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 $32k; list at $160k implies a 392% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1917 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $145,600 (9.0% below list)

Questions for the listing agent

1. It's been on market 103 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1917 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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 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?
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: 1.50% ✓
• Cap rate: 12.41%
• Cash-on-cash: 21.83%
• DSCR: 1.97
• GRM: 5.6

CMA / ARV

• ARV (median comp): $273,052
• List price: $160,000
• Delta: -41.40%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
21584 W Lake Ave	0.35mi	2/1.0 (-1)	872 (+10%)	8mo	$95,000	$109	56
21701 W Willow St	0.48mi	2/1.0 (-1)	720 (-9%)	19mo	$172,000	$239	41

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: 14.5%
• Equity multiple: 1.58×
• Total profit: $26,009
• Equity at exit: $23,857

10-year hold

• IRR: 23.2%
• Equity multiple: 3.00×
• Total profit: $89,579
• Equity at exit: $13,834

Cash invested: $44,800 (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 60046

• Active inventory: 84
• Price-to-rent: 5.6×

Monthly cashflow live

• Estimated rent: $2,398 medium
• Mortgage (P&I): −$839
• Tax from tax record: −$174 /mo · $2,086/yr
• Insurance: −$67
• HOA: −$0
• Vacancy / Maint / Mgmt: −$504
• Net cashflow: $815

Break-even live

Break-even rent $1,367

Max offer price $160,000

Occupancy floor 61%

Sensitivity live

Price	-10% $906	-5% $860	+0% $815	+5% $770	+10% $725
Rent	-10% $626	-5% $720	+0% $815	+5% $910	+10% $1,005
Rate	-1.0pp $896	-0.5pp $856	base $815	+0.5pp $774	+1.0pp $731

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: $40,000
• Closing costs: $4,800
• Reserves months: —
• Total cash needed: —

Listing history 33 events

1. 2026-06-21
   days on market $160,000 Active 103 DOM
2. 2026-06-18
   days on market $160,000 Active 100 DOM
3. 2026-06-17
   days on market $160,000 Active 99 DOM
4. 2026-06-16
   days on market $160,000 Active 98 DOM
5. 2026-06-15
   days on market $160,000 Active 97 DOM
6. 2026-06-13
   days on market $160,000 Active 95 DOM
7. 2026-06-13
   days on market $160,000 Active 94 DOM
8. 2026-06-09
   days on market $160,000 Active 91 DOM
9. 2026-06-08
   days on market $160,000 Active 90 DOM
10. 2026-06-07
    days on market $160,000 Active 89 DOM
11. 2026-06-04
    days on market $160,000 Active 86 DOM
12. 2026-06-03
    days on market $160,000 Active 85 DOM
13. 2026-06-02
    days on market $160,000 Active 84 DOM
14. 2026-06-01
    days on market $160,000 Active 83 DOM
15. 2026-05-31
    days on market $160,000 Active 82 DOM
16. 2026-03-10
    listed $160,000 Active 256-char remark

    Show marketing remark (256 chars)

    Build your retreat by the lake. Tons of potential on this 50x125 lot; Northern exposure offers unobstructed view of Crooked Lake. Mature trees on the property. Quiet and private. Minutes from shopping and area restaurants. Drive by only. Sold AS IS.

17. 2018-11-30
    historical
18. 2018-11-30
    historical
19. 2018-10-02
    listed New
20. 2018-10-02
    listed New
21. 2018-09-30
    historical
22. 2018-09-30
    historical
23. 2018-07-22
    listed New
24. 2018-07-22
    listed New
25. 2018-07-22
    historical
26. 2018-07-22
    historical
27. 2018-07-06
    listed New
28. 2018-07-06
    listed New
29. 2018-06-30
    historical
30. 2018-05-31
    historical
31. 2018-04-29
    listed New
32. 2018-02-25
    listed New
33. 1996-11-01
    soldstatus $32,500

ⓘ 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: $2,086 · $174/mo
• Projected year-2 tax: $2,859 · $238/mo
• Expected delta: +$773/yr (+$64/mo · 37.1%)

ⓘ 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 ≥100°F today · 14 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $28,780
• − Mortgage interest: −$8,962
• − Property taxes: −$2,086
• − Insurance: −$800
• − Repairs & maintenance: −$2,302
• − Management: −$2,302
• − Depreciation: −$4,655
• Taxable income: $7,672
• Est. tax owed @ 24.0%: −$1,841
• After-tax cash flow: $7,940/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 — Lindenhurst

• Score: 77/100
• State rank: #165
• US rank: #3036

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Lake County · 591,991 people
• City population: 34,613
• 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

+392.3% since first listed

18 events — show timeline

• 2026-03-10 Listed $160,000 MRED as Distributed by MLS Grid
• 2018-11-30 Listing Removed — MRED as Distributed by MLS Grid
• 2018-11-30 Listing Removed — MRED as Distributed by MLS Grid
• 2018-10-02 Listed — MRED as Distributed by MLS Grid
• 2018-10-02 Listed — MRED as Distributed by MLS Grid
• 2018-09-30 Listing Removed — MRED as Distributed by MLS Grid
• 2018-09-30 Listing Removed — MRED as Distributed by MLS Grid
• 2018-07-22 Listing Removed — MRED as Distributed by MLS Grid
• 2018-07-22 Listing Removed — MRED as Distributed by MLS Grid
• 2018-07-22 Listed — MRED as Distributed by MLS Grid
• 2018-07-22 Listed — MRED as Distributed by MLS Grid
• 2018-07-06 Listed — MRED as Distributed by MLS Grid
• 2018-07-06 Listed — MRED as Distributed by MLS Grid
• 2018-06-30 Listing Removed — MRED as Distributed by MLS Grid
• 2018-05-31 Listing Removed — MRED as Distributed by MLS Grid
• 2018-04-29 Listed — MRED as Distributed by MLS Grid
• 2018-02-25 Listed — MRED as Distributed by MLS Grid
• 1996-11-01 Sold (Public Records) $32,500 Public Records

Property tax history

+3.9%/yr

Latest (2024): $2,086 · +4.2% YoY. Source: county tax records.