4923 W Wonder Lake Dr · Wonder Lake, IL 60097

$200,000

3 bd · 1.0 ba · 1,414 sqft · SingleFamily public records · 24 Days on market

Built 1942 0.40 ac lot Est $270k · 26% under

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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 +25.1/30.0
• ARV discount +15.0/15.0
• DSCR +8.2/10.0
• 1% rule +6.5/10.0
• Livability +3.5/5.0
• Schools +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Endless Potential! Bring your vision to life with this 3-bedroom, 1-bath home that's primed and ready for your finishing touches! Much of the heavy lifting has already begun, offering a fantastic head start. Even better? Brand-new, still-in-the-box refrigerator, new stove, flooring, and countertops, are all included with the sale, saving you money in material costs. The real showstopper is the massive 2-car garage. Featuring a framed-out upper level, this space is a blank canvas perfect for a lucrative rental unit, a private home office, or a creative studio. Don't miss this incredible opportunity to build instant equity and design your dream space! The view across the street of the bay i

Key facts

• New stove
• New siding
• New flooring

Tags

• BRAND-NEW REFRIGERATOR
• NEW STOVE
• NEW FLOORING
• NEW COUNTERTOPS
• NEW SIDING
• MASSIVE 2-CAR GARAGE

Property features AI

Finance

• Financial info: Special service area: Yes
• HOA & community: No master association fee required

Exterior

• Parking: Attached garage (4 garage spaces, 4 total parking spaces)
• Utilities: Public water; Septic tank sewer
• Home design: Detached single-family home; Built approximately 71–80 years ago; Property is fee simple ownership
• Construction: Aluminum siding, vinyl siding and brick exterior
• Exterior features: Lot approximately 0.25–0.49 acre; Lot dimensions about 100 x 119

Interior

• Kitchen: Kitchen on the main level (approx. 17 x 12)
• Bedrooms: Three bedrooms (all on the main level); Master bedroom on the main level (approx. 14 x 12); Two additional main-level bedrooms (each approx. 12 x 10)
• Bathrooms: One full bathroom
• Heating & cooling: Natural gas forced-air heating; Central air conditioning
• Interior features: Six total rooms; Unfinished full basement
• Laundry & utility: Dedicated laundry room

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $200k.

Deal economics

• At list price, monthly cash flow is $441 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $200k).
• Recommended offer: $197k (1.5% below list) — sets the bar for market timing.
• Cap rate 8.9% vs local median 3.6% in Wonder 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 69/100 on livability (#403 in IL) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, cost of living A+; Watch: amenities F, commute F, health & safety F.
• Woodstock CUSD 200 (town): math 24% / reading 38% proficiency, ranked #220 of 620 in IL (top 36%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Greenwood Elem School (math 17% / reading 32%, grade F, #850 of 2,056 statewide, top 45%, 293 students, 0% FRL); Northwood Middle School (math 18% / reading 41%, grade F, #256 of 665 statewide, top 41%, 626 students, 0% FRL); Woodstock High School (math 28% / reading 40%, grade F, #147 of 693 statewide, top 22%, 1,021 students, 0% FRL) — zoned schools average 0% FRL vs 36% district-wide (36 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 126 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 0d on market — plan ~1-2 weeks tenant-placement turnaround); 1,595 units permitted in McHenry County in 2024 (485 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.
• McHenry County population projected at -12% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 24 days — a 2% lower offer ($197k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 13y 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 $50k; list at $200k implies a 300% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1942 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $197,000 (1.5% below list)

Questions for the listing agent

1. Built in 1942 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 1.15% ✓
• Cap rate: 8.94%
• Cash-on-cash: 9.46%
• DSCR: 1.42
• GRM: 7.3

CMA / ARV

• ARV (on-the-fly): $270,074
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5116 Willow Dr	0.24mi	3/1.0	1,325 (-6%)	1mo	$155,000	$117	77
5111 Wonder Woods Dr	0.19mi	3/2.0	1,456 (+3%)	7mo	$258,000	$177	76
4523 W Lake Shore Dr	0.39mi	3/1.0	1,422 (+1%)	18mo	$210,000	$148	66
4725 Winnebago Dr	0.50mi	3/3.5	1,412 (-0%)	10mo	$351,000	$249	58
7509 Marblehead Rd	0.53mi	3/2.0	1,580 (+12%)	1mo	$275,000	$174	51
4717 Winnebago Dr	0.51mi	3/1.5	1,224 (-13%)	2mo	$252,500	$206	50
5016 W Wonder Lake Dr	0.14mi	4/2.0 (+1)	1,272 (-10%)	22mo	$249,000	$196	49
4507 E Wonder Lake Rd	0.65mi	3/2.0	1,300 (-8%)	6mo	$245,111	$189	48
7526 Salem Rd	0.48mi	2/1.0 (-1)	1,212 (-14%)	5mo	$255,000	$210	45
7506 Salem Rd	0.55mi	2/1.0 (-1)	1,222 (-14%)	8mo	$233,500	$191	40
5535 Wonder Woods Dr	0.69mi	3/1.0	1,238 (-12%)	9mo	$262,000	$212	40
4810 Hilltop Dr	0.60mi	3/1.5	1,228 (-13%)	20mo	$225,000	$183	32

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: -2.0%
• Equity multiple: 0.92×
• Total profit: $-4,271
• Equity at exit: $29,821

10-year hold

• IRR: 7.7%
• Equity multiple: 1.58×
• Total profit: $32,586
• Equity at exit: $17,292

Cash invested: $56,000 (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 60097

• Home prices YoY: -34.1%
• Active inventory: 126
• Price-to-rent: 7.3×

Monthly cashflow live

• Estimated rent: $2,292 medium
• Mortgage (P&I): −$1,049
• Tax from tax record: −$237 /mo · $2,845/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$481
• Net cashflow: $441

Break-even live

Break-even rent $1,733

Max offer price $200,000

Occupancy floor 76%

Sensitivity live

Price	-10% $555	-5% $498	+0% $441	+5% $385	+10% $328
Rent	-10% $260	-5% $351	+0% $441	+5% $532	+10% $622
Rate	-1.0pp $542	-0.5pp $492	base $441	+0.5pp $390	+1.0pp $337

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: $50,000
• Closing costs: $6,000
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
8420 Stillwater Rd Wonder Lake, IL	2.0	2.5	1558	$2,300	$1.48	0d	1	0.49mi
8533 Stillwater Rd Wonder Lake, IL	3.0	2.5	1760	$2,400	$1.36	0d	1	0.58mi
5412 E Wonder Lake Rd Wonder Lake, IL	4.0	2.0	1868	$2,100	$1.12	21d	1	0.89mi

Listing history 20 events

1. 2026-06-21
   days on market $200,000 Active 24 DOM
2. 2026-06-18
   days on market $200,000 Active 21 DOM
3. 2026-06-17
   days on market $200,000 Active 20 DOM
4. 2026-06-16
   days on market $200,000 Active 19 DOM
5. 2026-06-15
   days on market $200,000 Active 18 DOM
6. 2026-06-13
   days on market $200,000 Active 16 DOM
7. 2026-06-09
   days on market $200,000 Active 12 DOM
8. 2026-06-08
   days on market $200,000 Active 11 DOM
9. 2026-06-08
   days on market $200,000 Active 10 DOM
10. 2026-06-04
    days on market $200,000 Active 7 DOM
11. 2026-06-03
    days on market $200,000 Active 6 DOM
12. 2026-06-02
    days on market $200,000 Active 5 DOM
13. 2026-06-01
    days on market $200,000 Active 4 DOM
14. 2026-05-31
    days on market $200,000 Active 3 DOM
15. 2026-05-28
    listed $200,000 Active
16. 2016-05-03
    soldstatus $50,000
17. 2014-04-14
    historical
18. 2013-07-09
    listed New
19. 2013-05-15
    historical
20. 2013-03-12
    listed New

ⓘ 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: $2,845 · $237/mo
• Projected year-2 tax: $3,693 · $308/mo
• Expected delta: +$847/yr (+$71/mo · 29.8%)

ⓘ 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 1/10 Low
• 🌡 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 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $27,503
• − Mortgage interest: −$11,203
• − Property taxes: −$2,845
• − Insurance: −$1,000
• − Repairs & maintenance: −$2,200
• − Management: −$2,200
• − Depreciation: −$5,818
• Taxable income: $2,236
• Est. tax owed @ 24.0%: −$537
• After-tax cash flow: $4,760/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: Woodstock CUSD 200
• NCES district ID: 1743330
• Math proficiency: 24% ▼ -8.00%
• Reading proficiency: 38% ▼ -8.00%
• Median HH income: $64,309
• Composite: 28.35/100
• National rank: #6773
• State rank: #220 of 620 in IL

Livability — Wonder Lake

• Score: 69/100
• State rank: #403
• US rank: #8372

Category grades

Amenities F Commute F Cost of living A+ 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: Wonder Lake, IL
• City population: 11,481
• Population (ZIP): 11,481

Population outlook (McHenry County) Hauer SSP2

• Today (2025): 305,342 people
• By 2030: 301,491 · -1.3%
• By 2040: 288,211 · -5.6%
• By 2050: 268,430 · -12.1%
• By 2075: 226,209 · -25.9%
• By 2100: 181,247 · -40.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (74%)
• Race & ethnicity: White 74% Hispanic / Latino 21% Two or more races 13%
• Hispanic origin (detail): Mexican 18% Puerto Rican 1%
• Common ancestry: Romanian 10% Portuguese 4% Lithuanian 3%
• Foreign-born: 5% · Canada
• Languages at home: 88% English-only · Spanish 11% Other Indo-European 1%

Political lean MEDSL · McHenry

• 2024 margin: Lean R (+5.3) · D 46.6% · R 51.9% · Other 1.5%
• 2008→2024 swing: -10.6pp toward R · 2008: 5.3pp · 2024: -5.3pp
• All cycles: 2024: R+5.3 2020: R+2.5 2016: R+8.1 2012: R+8.8 2008: D+5.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -117.25%
• Current HPI: 226.1109
• 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

+300.0% since first listed

6 events — show timeline

• 2026-05-28 Listed $200,000 MRED as Distributed by MLS Grid
• 2016-05-03 Sold (Public Records) $50,000 Public Records
• 2014-04-14 Listing Removed — MRED as Distributed by MLS Grid
• 2013-07-09 Listed — MRED as Distributed by MLS Grid
• 2013-05-15 Listing Removed — MRED as Distributed by MLS Grid
• 2013-03-12 Listed — MRED as Distributed by MLS Grid

Property tax history

-2.6%/yr

Latest (2024): $2,845 · +3.0% YoY. Source: county tax records.