36 Bermuda Colony #5 · Fox Lake, IL 60020

$68,000

3 bd · 1.0 ba · 504 sqft · Condo public records · 30 Days on market

Built 1970 $355/mo HOA · 17% 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 +7.5/15.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

There are no remarks available.

Key facts

• Access to biking
• Access to clubhouse
• Access to fishing

Tags

• SLIDER TO BALCONY
• ACCESS TO POOL
• ACCESS TO CLUBHOUSE
• ACCESS TO PARTY ROOM
• ACCESS TO FISHING
• ACCESS TO BIKING

Property features AI

Finance

• Other: Not currently leased; School bus service and commuter train access
• Financial info: Homeowner tax exemption
• HOA & community: Monthly association fee of $355; Association fee covers parking, insurance, security, clubhouse, pool, exterior maintenance, lawn care, snow removal, and lake rights; Community amenities include boat dock, coin laundry, storage, on-site manager/engineer, park, party room, pool, and tennis courts; Pets allowed (cats and dogs) with limits; maximum pet weight 80 lbs

Exterior

• Parking: Two parking spaces (off-street, unassigned)
• Security: On-site manager; Community has guard house/entrance with check-in
• Utilities: Public water; Public sewer; Cable available
• Home design: Attached single condo; Condo ownership; Model: CLIPPER; Entry level: 1; Built before 1978
• Construction: Cedar construction; Asphalt roof; Concrete perimeter foundation; Building contains 6 units; Age: approximately 51–60 years
• Exterior features: In-ground pool; Balcony; Boat slip; Common lot/grounds

Interior

• Kitchen: Range
• Bedrooms: One bedroom (master bedroom on second level)
• Flooring: Carpet in living room and master bedroom; Vinyl flooring in kitchen
• Bathrooms: One full bathroom
• Heating & cooling: Electric baseboard heating; Central air conditioning
• Interior features: Three total rooms; TV cable available; CO detectors
• Laundry & utility: Laundry room

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath condo listed at $68k.

Deal economics

• At list price, monthly cash flow is $818 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $68k).
• Recommended offer: $67k (1.5% below list) — sets the bar for market timing.
• Cap rate 20.7% vs local median 6.0% in Fox Lake — 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 74/100 on livability (#247 in IL, #4,462 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, commute A; Watch: amenities D+, schools F, health & safety 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.
• Market conditions: 78 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 67% of comp listings sitting > 30 days — soft ceiling on asking rent; 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 $470 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 + 3.0% rent growth), your $19k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 30 days — a 2% lower offer ($67k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 18y 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 $27k; list at $68k implies a 152% gain — meaningful room to come down on a strong offer.

Recommended offer $66,980 (1.5% below list)

Questions for the listing agent

1. Built in 1970 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 3.11% ✓
• Cap rate: 20.72%
• Cash-on-cash: 51.54%
• DSCR: 3.29
• GRM: 2.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 49.6%
• Equity multiple: 3.17×
• Total profit: $41,327
• Equity at exit: $10,139

10-year hold

• IRR: 55.2%
• Equity multiple: 6.47×
• Total profit: $104,133
• Equity at exit: $5,879

Cash invested: $19,040 (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 60020

• Home prices YoY: -30.7%
• Active inventory: 78
• Price-to-rent: 2.7×

Monthly cashflow live

• Estimated rent: $2,115 medium
• Mortgage (P&I): −$357
• Tax from tax record: −$113 /mo · $1,355/yr
• Insurance: −$28
• HOA: −$355
• Vacancy / Maint / Mgmt: −$444
• Net cashflow: $818

Break-even live

Break-even rent $1,080

Max offer price $68,000

Occupancy floor 56%

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: $17,000
• Closing costs: $2,040
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
32 Montego Colony #1 Fox Lake, IL	2.0	1.0	690	$1,400	$2.03	44d	1	0.07mi
306 Waverly St Unit 1244943P Spring Grove, IL	3.0	1.0	742	$8,714	$11.74	44d	1	0.74mi
38381 N 6th Ave Spring Grove, IL	2.0	1.0	600	$1,095	$1.82	1d	1	1.04mi

HOA detail condo

• Monthly dues: $355 · $4,260/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 30 events

1. 2026-06-13
   statusdays on market $68,000 Pending 30 DOM
2. 2026-06-09
   days on market $68,000 Contingent - No Showings 27 DOM
3. 2026-06-08
   days on market $68,000 Contingent - No Showings 26 DOM
4. 2026-06-07
   days on market $68,000 Contingent - No Showings 25 DOM
5. 2026-06-04
   days on market $68,000 Contingent - No Showings 22 DOM
6. 2026-06-03
   days on market $68,000 Contingent - No Showings 21 DOM
7. 2026-06-02
   days on market $68,000 Contingent - No Showings 20 DOM
8. 2026-06-01
   days on market $68,000 Contingent - No Showings 19 DOM
9. 2026-05-31
   days on market $68,000 Contingent - No Showings 18 DOM
10. 2026-05-16
    historical Contingent - No Showings
11. 2026-05-13
    listed $68,000 Active
12. 2016-06-10
    soldstatus $27,000
13. 2016-06-03
    soldstatus $27,000 Closed Sale 31-char remark

    Show marketing remark (31 chars)

    There are no remarks available.

14. 2016-05-21
    status Contingent (Do Not Show) 31-char remark

    Show marketing remark (31 chars)

    There are no remarks available.

15. 2016-05-04
    price $29,900 31-char remark

    Show marketing remark (31 chars)

    There are no remarks available.

16. 2016-04-13
    price $33,900 31-char remark

    Show marketing remark (31 chars)

    There are no remarks available.

17. 2016-03-04
    price $34,999 31-char remark

    Show marketing remark (31 chars)

    There are no remarks available.

18. 2016-02-29
    price $37,900 31-char remark

    Show marketing remark (31 chars)

    There are no remarks available.

19. 2016-02-03
    listed $39,900 New 31-char remark

    Show marketing remark (31 chars)

    There are no remarks available.

20. 2013-11-25
    soldstatus $24,000 Closed Sale 432-char remark

    Show marketing remark (432 chars)

    Nice 1BR Condo in Vacation Village, Balcony/Slider, All Electric, Cent A/C, Pool, Shed, Clubhouse, Party Room, Fishing, Biking, Tennis, Marina for fee & more. No FHA. Foreclosure. As Is. 3%BCC max (excl cash offers), HOW inctv avail own occ-conditions. 100% tax prorations. No survey. Include copy of cert EM funds & Prq/POF w/offer. Contract & Adn on MRED. Eligible under Freddie Mac First Look Initiative thru 10/3/13.

21. 2013-10-16
    historical Contingent 432-char remark

    Show marketing remark (432 chars)

    Nice 1BR Condo in Vacation Village, Balcony/Slider, All Electric, Cent A/C, Pool, Shed, Clubhouse, Party Room, Fishing, Biking, Tennis, Marina for fee & more. No FHA. Foreclosure. As Is. 3%BCC max (excl cash offers), HOW inctv avail own occ-conditions. 100% tax prorations. No survey. Include copy of cert EM funds & Prq/POF w/offer. Contract & Adn on MRED. Eligible under Freddie Mac First Look Initiative thru 10/3/13.

22. 2013-09-19
    listed $25,900 New 432-char remark

    Show marketing remark (432 chars)

    Nice 1BR Condo in Vacation Village, Balcony/Slider, All Electric, Cent A/C, Pool, Shed, Clubhouse, Party Room, Fishing, Biking, Tennis, Marina for fee & more. No FHA. Foreclosure. As Is. 3%BCC max (excl cash offers), HOW inctv avail own occ-conditions. 100% tax prorations. No survey. Include copy of cert EM funds & Prq/POF w/offer. Contract & Adn on MRED. Eligible under Freddie Mac First Look Initiative thru 10/3/13.

23. 2012-03-06
    historical
24. 2012-01-16
    price Price Change
25. 2011-09-23
    listed New
26. 2009-12-03
    historical
27. 2008-12-02
    listed
28. 2004-06-08
    soldstatus $51,500
29. 2003-06-12
    soldstatus $47,500
30. 1990-11-01
    soldstatus $21,000

ⓘ 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: $1,355 · $113/mo
• Projected year-2 tax: $1,449 · $121/mo
• Expected delta: +$94/yr (+$8/mo · 7.0%)

ⓘ 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 4/10 Moderate
• 🌡 Heat 2/10 Low 7 d/yr ≥101°F today · 14 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $25,375
• − Mortgage interest: −$3,809
• − Property taxes: −$1,355
• − Insurance: −$340
• − Repairs & maintenance: −$2,030
• − Management: −$2,030
• − HOA: −$4,260
• − Depreciation: −$1,978
• Taxable income: $9,573
• Est. tax owed @ 24.0%: −$2,298
• After-tax cash flow: $7,515/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 — Fox Lake

• Score: 74/100
• State rank: #247
• US rank: #4462

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Fox Lake, IL
• City population: 10,846
• Population (ZIP): 10,846

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 (80%)
• Race & ethnicity: White 80% Hispanic / Latino 12% Two or more races 10% Black 3%
• Hispanic origin (detail): Mexican 10% Puerto Rican 1%
• Common ancestry: Romanian 15% Portuguese 2% Italian 2%
• Foreign-born: 10% · Canada, South Korea
• Languages at home: 87% English-only · Spanish 6% Russian/Polish/Slavic 3% Other Indo-European 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: ▼ -97.19%
• Current HPI: 219.6301
• 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

+223.8% since first listed

21 events — show timeline

• 2026-05-16 Contingent — MRED as Distributed by MLS Grid
• 2026-05-13 Listed $68,000 MRED as Distributed by MLS Grid
• 2016-06-10 Sold (Public Records) $27,000 Public Records
• 2016-06-03 Sold (MLS) $27,000 MRED as Distributed by MLS Grid
• 2016-05-21 Pending — MRED as Distributed by MLS Grid
• 2016-05-04 Price Changed $29,900 MRED as Distributed by MLS Grid
• 2016-04-13 Price Changed $33,900 MRED as Distributed by MLS Grid
• 2016-03-04 Price Changed $34,999 MRED as Distributed by MLS Grid
• 2016-02-29 Price Changed $37,900 MRED as Distributed by MLS Grid
• 2016-02-03 Listed $39,900 MRED as Distributed by MLS Grid
• 2013-11-25 Sold (MLS) $24,000 MRED as Distributed by MLS Grid
• 2013-10-16 Contingent — MRED as Distributed by MLS Grid
• 2013-09-19 Listed $25,900 MRED as Distributed by MLS Grid
• 2012-03-06 Listing Removed — MRED as Distributed by MLS Grid
• 2012-01-16 Price Changed — MRED as Distributed by MLS Grid
• 2011-09-23 Listed — MRED as Distributed by MLS Grid
• 2009-12-03 Listing Removed — MRED as Distributed by MLS Grid
• 2008-12-02 Listed — MRED as Distributed by MLS Grid
• 2004-06-08 Sold (Public Records) $51,500 Public Records
• 2003-06-12 Sold (Public Records) $47,500 Public Records
• 1990-11-01 Sold (Public Records) $21,000 Public Records

Property tax history

+4.0%/yr

Latest (2024): $1,355 · +10.3% YoY. Source: county tax records.