1208 Waverly Dr #1208 · Volo, IL 60020

$249,900

2 bd · 2.0 ba · 1,256 sqft · Condo · 8 Days on market

Built 2009 $199/sqft · at area comps Est $243k · at est. $202/mo HOA · 7% 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 +19.1/30.0
• ARV discount +6.2/15.0
• 1% rule +6.1/10.0
• DSCR +6.0/10.0
• Livability +3.4/5.0
• 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

• $202 HOA
• Garage
• Built 2009

Property features AI

Finance

• Other: 4-unit building; Assessor listed living area; Not rebuilt or rehabbed; Parcel number available
• HOA & community: Monthly association fee of $202; Association covers insurance, exterior maintenance, lawn care and snow removal; Pets allowed (cats and dogs, max ~30 lb)

Exterior

• Parking: Attached garage (garage owned) with garage door opener; Asphalt parking; 1 garage space / 1 total parking space
• Utilities: Public water; Public sewer; 100 amp electric service
• Home design: Attached single, condo (quad-ranch); End unit; Hudson model; Entry level: 1; Disability access available; Commuter train access
• Construction: 16–20 years old; Vinyl siding and cedar on frame construction
• Exterior features: Patio; Adjacent to nature preserve

Interior

• Kitchen: Kitchen on main level with eating area/breakfast bar and pantry
• Bedrooms: Master bedroom on main level with full bath; Additional bedroom on main level (12 x 11) with blinds and carpet; Two other bedrooms listed
• Flooring: Hardwood in main living areas; Carpet in some bedrooms; Vinyl in laundry
• Bathrooms: 2 full bathrooms
• Heating & cooling: Natural gas forced-air heat; Central air conditioning
• Interior features: First-floor bedroom; First-floor full bath; 5 total rooms; Hardwood flooring
• Laundry & utility: Main-level laundry with washer hookup

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $250k.

Deal economics

• At list price, monthly cash flow is $265 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $250k).
• Cap rate 7.6% vs local median 5.0% in Volo — 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 67/100 on livability (#493 in IL) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, crime A-; Watch: schools D+, 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.
• Market conditions: 77 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals leasing fast (median 4d on market — plan ~1-2 weeks tenant-placement turnaround); 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 $2k of loan paydown is wiped out by about $7k 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.
• 4 sale attempts since 17y 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 $125k; list at $250k implies a 100% gain — meaningful room to come down on a strong offer.

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. 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?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are D-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 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: 1.11% ✓
• Cap rate: 7.57%
• Cash-on-cash: 4.55%
• DSCR: 1.20
• GRM: 7.5

CMA / ARV

• ARV (median comp): $242,715
• List price: $249,900
• Delta: 2.96%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -9.1%
• Equity multiple: 0.67×
• Total profit: $-23,427
• Equity at exit: $37,261

10-year hold

• IRR: 0.4%
• Equity multiple: 1.03×
• Total profit: $2,038
• Equity at exit: $21,607

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 60020

• Home prices YoY: -30.7%
• Active inventory: 77
• Price-to-rent: 7.5×

Monthly cashflow live

• Estimated rent: $2,778 high
• Mortgage (P&I): −$1,311
• Tax est. 1.5%: −$312 /mo · $3,748/yr
• Insurance: −$104
• HOA: −$202
• Vacancy / Maint / Mgmt: −$583
• Net cashflow: $265

Break-even live

Break-even rent $2,442

Max offer price $249,900

Occupancy floor 85%

Sensitivity live

Price	-10% $438	-5% $352	+0% $265	+5% $179	+10% $93
Rent	-10% $46	-5% $156	+0% $265	+5% $375	+10% $485
Rate	-1.0pp $391	-0.5pp $329	base $265	+0.5pp $201	+1.0pp $135

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: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
337 Red Oak Cir Volo, IL	3.0	2.5	1767	$2,800	$1.58	3d	1	0.22mi
331 Red Oak Cir #304 Volo, IL	3.0	2.5	1840	$3,000	$1.63	4d	1	0.24mi
32415 N Mackinac Ln #1 McHenry, IL	2.0	2.5	1416	$2,295	$1.62	11d	1	1.10mi
450 Sullivan Lake Blvd Lakemoor, IL	1.0–2.0	1.0–2.5	1009	$2,300	$2.28	0d	17	1.27mi
601 Blue Springs Dr Unit 289 Fox Lake, IL	3.0	2.5	1837	$2,750	$1.50	25d	1	1.50mi

HOA detail condo

• Monthly dues: $202 · $2,424/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 25 events

1. 2026-06-21
   days on market $249,900 Active 8 DOM
2. 2026-06-21
   days on market $249,900 Active 7 DOM
3. 2026-06-18
   days on market $249,900 Active 5 DOM
4. 2026-06-17
   days on market $249,900 Active 4 DOM
5. 2026-06-16
   days on market $249,900 Active 3 DOM
6. 2026-06-15
   days on market $249,900 Active 2 DOM
7. 2026-06-13
   statusdays on marketlisting id $249,900 Active 1 DOM
8. 2026-06-13
   days on market $249,900 Contingent - Continue to Show 30 DOM
9. 2026-06-12
   days on market $249,900 Contingent - Continue to Show 29 DOM
10. 2026-06-09
    days on market $249,900 Contingent - Continue to Show 26 DOM
11. 2026-06-08
    days on market $249,900 Contingent - Continue to Show 25 DOM
12. 2026-06-07
    days on market $249,900 Contingent - Continue to Show 24 DOM
13. 2026-06-05
    days on market $249,900 Contingent - Continue to Show 22 DOM
14. 2026-06-04
    days on market $249,900 Contingent - Continue to Show 21 DOM
15. 2026-06-03
    days on market $249,900 Contingent - Continue to Show 20 DOM
16. 2026-06-02
    days on market $249,900 Contingent - Continue to Show 19 DOM
17. 2026-06-01
    days on market $249,900 Contingent - Continue to Show 18 DOM
18. 2026-05-31
    days on market $249,900 Contingent - Continue to Show 17 DOM
19. 2026-05-14
    listed $249,900 Active 143-char remark
20. 2018-08-24
    soldstatus $125,000 Closed Sale 31-char remark

    Show marketing remark (31 chars)

    There are no remarks available.

21. 2018-07-31
    historical Contingent 31-char remark

    Show marketing remark (31 chars)

    There are no remarks available.

22. 2018-07-19
    price $129,900 31-char remark

    Show marketing remark (31 chars)

    There are no remarks available.

23. 2018-06-27
    listed $132,000 New 31-char remark

    Show marketing remark (31 chars)

    There are no remarks available.

24. 2009-05-28
    historical
25. 2009-05-06
    listed

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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 · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $33,332
• − Mortgage interest: −$13,998
• − Property taxes: −$3,748
• − Insurance: −$1,250
• − Repairs & maintenance: −$2,667
• − Management: −$2,667
• − HOA: −$2,424
• − Depreciation: −$7,270
• Taxable loss: −$691
• Est. tax savings @ 24.0%: +$166
• After-tax cash flow: $3,350/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 — Volo

• Score: 67/100
• State rank: #493
• US rank: #10244

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Volo, IL
• 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

+89.3% since first listed

10 events — show timeline

• 2026-06-13 Listed $249,900 MRED as Distributed by MLS Grid
• 2026-05-20 Contingent — MRED as Distributed by MLS Grid
• 2026-05-18 Listing Removed — MRED as Distributed by MLS Grid
• 2026-05-14 Listed — MRED as Distributed by MLS Grid
• 2018-08-24 Sold (MLS) $125,000 MRED as Distributed by MLS Grid
• 2018-07-31 Contingent — MRED as Distributed by MLS Grid
• 2018-07-19 Price Changed $129,900 MRED as Distributed by MLS Grid
• 2018-06-27 Listed $132,000 MRED as Distributed by MLS Grid
• 2009-05-28 Listing Removed — MRED as Distributed by MLS Grid
• 2009-05-06 Listed — MRED as Distributed by MLS Grid