320 W Treehouse Ln · Round Lake, IL 60073

$199,900

2 bd · 2.0 ba · 980 sqft · Townhouse public records · 8 Days on market

Built 1996 Est $203k · at est. $269/mo HOA · 13% of rent

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Why this score? — see what drove the D- 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 +12.4/30.0
• ARV discount +8.2/15.0
• 1% rule +5.3/10.0
• DSCR +3.7/10.0
• Livability +3.6/5.0
• Rent growth +3.2/5.0
• Condition / age +2.5/5.0
• Schools +1.0/10.0
• Appreciation +0.0/10.0

Listing remarks

Call, Text Or Email Stephanie, Showings Can Happen But With Enough Notice.

Key facts

• $269 HOA
• 2 garage spots
• Built 1996

Property features AI

Finance

• HOA & community: Monthly association fee; Association fee listed as monthly; Managed by off-site manager; Pets allowed (cats and dogs allowed; max pet weight listed)

Exterior

• Parking: Attached garage with two garage spaces; Asphalt driveway; Garage door opener; Garage owned
• Utilities: Public water; Public sewer; Electric with circuit breakers
• Home design: Attached single condo; Townhouse — 2 story; Condo ownership
• Construction: Vinyl siding; Concrete perimeter foundation; Building approximately 26–30 years old; Not rebuilt or rehabbed; not built before 1978
• Exterior features: Deck; Wooded lot setting

Interior

• Kitchen: Range; Microwave; Dishwasher; Refrigerator
• Bedrooms: Master bedroom on the second level (15 x 11) with a full bath; Additional bedrooms on the second level (one 11 x 10)
• Flooring: Hardwood flooring in multiple rooms; Travertine flooring in the kitchen
• Bathrooms: Two full bathrooms
• Heating & cooling: Central air
• Interior features: Six total rooms; TV cable available
• Laundry & utility: In-unit laundry; Washer; Dryer

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath townhouse listed at $200k.

Deal economics

• At list price, monthly cash flow is $-31 ($-376/yr) — negative.
• To cash-flow at today's rent, offer at most $195k (2.3% below list).
• Meets the 1% rule at list price ($2k rent vs $200k).
• Recommended offer: $195k (2.3% below list) — sets the bar for cash-flow.
• Cap rate 6.1% vs local median 4.2% in Round 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 72/100 on livability (#323 in IL) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: commute D+, amenities F, health & safety F.
• Round Lake CUSD 116 (suburban): math 7% / reading 14% proficiency, ranked #560 of 620 in IL (top 90%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 67% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Village Elementary School (math 2% / reading 2%, grade F, #1,927 of 2,056 statewide, top 100%, 345 students, 0% FRL); Magee Middle School (math 8% / reading 21%, grade F, #517 of 665 statewide, top 79%, 673 students, 0% FRL); Round Lake Senior High School (math 9% / reading 13%, grade F, #522 of 693 statewide, top 76%, 2,258 students, 0% FRL) — zoned schools average 0% FRL vs 67% district-wide (67 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: Rents rising (+2.9%/yr); 97 active listings in the ZIP; 1 comparable units currently listed for rent nearby; solid renter incomes; 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 $6k 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.

Negotiation context

• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.

Recommended offer $195,370 (2.3% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 1.03% ✓
• Cap rate: 6.11%
• Cash-on-cash: -0.67%
• DSCR: 0.97
• GRM: 8.1

CMA / ARV

• ARV (on-the-fly): $202,860
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
37 S Treehouse Ln	0.05mi	3/2.0 (+1)	1,016 (+4%)	13mo	$210,000	$207	76

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 · 2.87% rent growth · sell at horizon

5-year hold

• IRR: -17.5%
• Equity multiple: 0.38×
• Total profit: $-34,458
• Equity at exit: $29,806

10-year hold

• IRR: -9.6%
• Equity multiple: 0.41×
• Total profit: $-32,871
• Equity at exit: $17,284

Cash invested: $55,972 (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 60073

• Rents YoY: 2.9%
• Active inventory: 97
• Price-to-rent: 8.1×

Monthly cashflow live

• Estimated rent: $2,050 medium
• Mortgage (P&I): −$1,048
• Tax est. 1.5%: −$250 /mo · $2,998/yr
• Insurance: −$83
• HOA: −$269
• Vacancy / Maint / Mgmt: −$430
• Net cashflow: $-31

Break-even live

Break-even rent $2,089

Max offer price $195,370

Occupancy floor 97%

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: $49,975
• Closing costs: $5,997
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
426 Alpine Dr Round Lake, IL	3.0	1.0	957	$2,000	$2.09	4d	1	0.60mi

HOA detail

• Monthly dues: $269 · $3,228/yr

Listing history 7 events

1. 2026-06-18
   days on market $199,900 Coming Soon 8 DOM
2. 2026-06-17
   days on market $199,900 Coming Soon 7 DOM
3. 2026-06-16
   days on market $199,900 Coming Soon 6 DOM
4. 2026-06-15
   days on market $199,900 Coming Soon 5 DOM
5. 2026-06-13
   days on market $199,900 Coming Soon 3 DOM
6. 2026-06-13
   remarks 74-char remark
7. 2026-06-13
   listed $199,900 Coming Soon 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: $24,595
• − Mortgage interest: −$11,198
• − Property taxes: −$2,998
• − Insurance: −$1,000
• − Repairs & maintenance: −$1,968
• − Management: −$1,968
• − HOA: −$3,228
• − Depreciation: −$5,815
• Taxable loss: −$3,579
• Est. tax savings @ 24.0%: +$859
• After-tax cash flow: $483/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: Round Lake CUSD 116
• NCES district ID: 1734990
• Math proficiency: 7% ▼ -6.00%
• Reading proficiency: 14% ▼ -2.00%
• Median HH income: $53,477
• Composite: 10.35/100
• National rank: #9789
• State rank: #560 of 620 in IL

Livability — Round Lake

• Score: 72/100
• State rank: #323
• US rank: #6431

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Round Lake, IL
• County: Lake County · 591,991 people
• City population: 62,868
• Metro: Chicago-Naperville-Elgin, IL-IN-WI
• Population (ZIP): 62,868
• Household income: $98,514
• Rent vs Own: 21.9% rent · 78.1% own
• Severe rent burden: 1225.0

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 0.63)
• Race & ethnicity: Hispanic / Latino 45% White 40% Two or more races 20% Asian 7% Black 4% Native American 2%
• Hispanic origin (detail): Mexican 37% Puerto Rican 3%
• Common ancestry: Romanian 8% Portuguese 1% Lithuanian 1%
• Foreign-born: 25% · Canada, South Korea, Vietnam
• Languages at home: 56% English-only · Spanish 35% Russian/Polish/Slavic 2% Other Indo-European 2%

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: ▼ -140.95%
• Current HPI: 229.1762
• Rent YoY: ▲ 2.87%
• 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