1411 N Jackson St · Waukegan, IL 60085

$199,500

5 bd · 2.5 ba · 2,223 sqft · SingleFamily public records · 62 Days on market

Built 1923 7,155 sqft lot $90/sqft · 25% below area Est $267k · 25% under

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Why this score? — see what drove the C 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 +17.8/30.0
• ARV discount +15.0/15.0
• 1% rule +6.9/10.0
• DSCR +5.6/10.0
• Livability +3.8/5.0
• Rent growth +3.3/5.0
• Condition / age +2.5/5.0
• Schools +0.8/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Architecturally interesting brick & stone tudor style home in North East Waukegan. Full basement, fireplace, 2+ car garage. Home needs total renovation and priced accordingly. Electric is currently shut off(bring a flashlight:)! Home is currently assessed at $240,666 and taxes should be reduced upon appeal with lower sale price. Please discuss with the tax assessor, if desired. PLEASE NOTE THAT THE HOUSE IS NOT HABITABLE. CALL LISTING AGENT FOR DETAILS. ALL PEOPLE ENTERING THE HOUSE MUST SIGN A "DISTRESSED PROPERTY DISCLOSURE" BEFORE GOING INTO THE HOUSE. FORM IS FOUND UNDER "ADDITIONAL INFORMATION" IN THE MLS AND EXTRA COPIES ARE AT THE HOUSE. GARAGE DOOR ISN"T OPPERABLE, PLEASE DON'T GO IN. Thank you:)!

Key facts

• 7,155 sq ft lot
• 2 garage spots
• Built 1923

What this means for you Summary

Snapshot

• This is a 5-bed/2.5-bath single-family listed at $200k.

Deal economics

• At list price, monthly cash flow is $163 ($2k/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: $188k (6.0% below list) — sets the bar for market timing.
• Cap rate 7.3% vs local median 4.6% in Waukegan — 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 75/100 on livability (#216 in IL, #4,074 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: employment C-, crime D, schools F.
• Waukegan CUSD 60 (suburban): math 7% / reading 10% proficiency, ranked #587 of 620 in IL (top 95%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 66% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising (+3.2%/yr); 86 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 948 units permitted in Lake County in 2024 (424 in 5+ unit buildings).
• This rent runs 43% of the median local income ($67k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

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

• It's been on market 62 days — a 6% lower offer ($188k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: property tax is 3.5% of price; built in 1923 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $187,530 (6.0% below list)

Questions for the listing agent

1. It's been on market 62 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1923 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
8. 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.
9. 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.
10. 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: 1.19% ✓
• Cap rate: 7.28%
• Cash-on-cash: 3.51%
• DSCR: 1.16
• GRM: 7.0

CMA / ARV

• ARV (median comp): $267,282
• List price: $199,500
• Delta: -25.36%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1331 N Ash St	0.17mi	4/2.0 (-1)	2,106 (-5%)	8mo	$295,000	$140	70
1030 N Ash St	0.36mi	5/2.0	2,060 (-7%)	9mo	$189,900	$92	62
1600 N Ash St	0.21mi	4/1.5 (-1)	2,063 (-7%)	11mo	$290,000	$141	60
612 Massena Ave	0.52mi	4/2.5 (-1)	2,125 (-4%)	16mo	$170,000	$80	50
725 N Poplar St	0.64mi	4/2.0 (-1)	2,220 (-0%)	16mo	$250,000	$113	49
401 Stanley Ave	0.35mi	4/1.5 (-1)	1,976 (-11%)	9mo	$320,500	$162	49
917 N Linden Ave	0.49mi	4/4.0 (-1)	2,445 (+10%)	4mo	$295,000	$121	47
1502 Henry Pl	0.35mi	4/1.5 (-1)	1,924 (-14%)	11mo	$275,000	$143	43
833 Hickory St	0.59mi	5/3.0	1,970 (-11%)	11mo	$180,000	$91	43
726 North Ave	0.69mi	4/1.5 (-1)	2,085 (-6%)	9mo	$292,000	$140	41
217 Stewart Ave	0.63mi	4/2.0 (-1)	1,950 (-12%)	7mo	$262,000	$134	37
813 Pine St	0.62mi	4/1.0 (-1)	2,448 (+10%)	11mo	$254,900	$104	34

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 · 3.24% rent growth · sell at horizon

5-year hold

• IRR: -10.3%
• Equity multiple: 0.62×
• Total profit: $-21,113
• Equity at exit: $29,746

10-year hold

• IRR: -0.4%
• Equity multiple: 0.97×
• Total profit: $-1,654
• Equity at exit: $17,249

Cash invested: $55,860 (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 60085

• Rents YoY: 3.2%
• Active inventory: 86
• Price-to-rent: 7.0×

Monthly cashflow live

• Estimated rent: $2,371 medium
• Mortgage (P&I): −$1,046
• Tax from tax record: −$580 /mo · $6,961/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$498
• Net cashflow: $163

Break-even live

Break-even rent $2,164

Max offer price $199,500

Occupancy floor 88%

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: $49,875
• Closing costs: $5,985
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1217 Hickory St Waukegan, IL	4.0	2.0	1635	$2,286	$1.40	7d	1	0.29mi

Listing history 19 events

1. 2026-06-18
   status $199,500 Active 62 DOM
2. 2026-06-18
   days on market $199,500 Contingent - Continue to Show 62 DOM
3. 2026-06-17
   days on market $199,500 Contingent - Continue to Show 61 DOM
4. 2026-06-16
   days on market $199,500 Contingent - Continue to Show 60 DOM
5. 2026-06-15
   days on market $199,500 Contingent - Continue to Show 59 DOM
6. 2026-06-13
   days on market $199,500 Contingent - Continue to Show 57 DOM
7. 2026-06-09
   days on market $199,500 Contingent - Continue to Show 53 DOM
8. 2026-06-08
   days on market $199,500 Contingent - Continue to Show 52 DOM
9. 2026-06-07
   days on market $199,500 Contingent - Continue to Show 51 DOM
10. 2026-06-04
    days on market $199,500 Contingent - Continue to Show 48 DOM
11. 2026-06-03
    days on market $199,500 Contingent - Continue to Show 47 DOM
12. 2026-06-02
    days on market $199,500 Contingent - Continue to Show 46 DOM
13. 2026-06-01
    days on market $199,500 Contingent - Continue to Show 45 DOM
14. 2026-05-31
    days on market $199,500 Contingent - Continue to Show 44 DOM
15. 2026-05-07
    historical Contingent - Continue to Show 747-char remark

    Show marketing remark (747 chars)

    Architecturally interesting brick & stone tudor style home in North East Waukegan. Full basement, fireplace, 2+ car garage. Home needs total renovation and priced accordingly. Electric is currently shut off(bring a flashlight:)! Home is currently assessed at $240,666 and taxes should be reduced upon appeal with lower sale price. Please discuss with the tax assessor, if desired. PLEASE NOTE THAT THE HOUSE IS NOT HABITABLE. CALL LISTING AGENT FOR DETAILS. ALL PEOPLE ENTERING THE HOUSE MUST SIGN A "DISTRESSED PROPERTY DISCLOSURE" BEFORE GOING INTO THE HOUSE. FORM IS FOUND UNDER "ADDITIONAL INFORMATION" IN THE MLS AND EXTRA COPIES ARE AT THE HOUSE. GARAGE DOOR ISN"T OPPERABLE, PLEASE DON'T GO IN. Thank you:)!

16. 2026-04-17
    listed $199,500 Active 747-char remark

    Show marketing remark (747 chars)

    Architecturally interesting brick & stone tudor style home in North East Waukegan. Full basement, fireplace, 2+ car garage. Home needs total renovation and priced accordingly. Electric is currently shut off(bring a flashlight:)! Home is currently assessed at $240,666 and taxes should be reduced upon appeal with lower sale price. Please discuss with the tax assessor, if desired. PLEASE NOTE THAT THE HOUSE IS NOT HABITABLE. CALL LISTING AGENT FOR DETAILS. ALL PEOPLE ENTERING THE HOUSE MUST SIGN A "DISTRESSED PROPERTY DISCLOSURE" BEFORE GOING INTO THE HOUSE. FORM IS FOUND UNDER "ADDITIONAL INFORMATION" IN THE MLS AND EXTRA COPIES ARE AT THE HOUSE. GARAGE DOOR ISN"T OPPERABLE, PLEASE DON'T GO IN. Thank you:)!

17. 2026-04-09
    historical 747-char remark

    Show marketing remark (747 chars)

    Architecturally interesting brick & stone tudor style home in North East Waukegan. Full basement, fireplace, 2+ car garage. Home needs total renovation and priced accordingly. Electric is currently shut off(bring a flashlight:)! Home is currently assessed at $240,666 and taxes should be reduced upon appeal with lower sale price. Please discuss with the tax assessor, if desired. PLEASE NOTE THAT THE HOUSE IS NOT HABITABLE. CALL LISTING AGENT FOR DETAILS. ALL PEOPLE ENTERING THE HOUSE MUST SIGN A "DISTRESSED PROPERTY DISCLOSURE" BEFORE GOING INTO THE HOUSE. FORM IS FOUND UNDER "ADDITIONAL INFORMATION" IN THE MLS AND EXTRA COPIES ARE AT THE HOUSE. GARAGE DOOR ISN"T OPPERABLE, PLEASE DON'T GO IN. Thank you:)!

18. 2005-12-01
    soldstatus $215,000
19. 1995-10-27
    soldstatus $158,000

ⓘ 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: $6,961 · $580/mo
• Projected year-2 tax: $6,961 · $580/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 2/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥97°F today · 14 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $28,446
• − Mortgage interest: −$11,175
• − Property taxes: −$6,961
• − Insurance: −$998
• − Repairs & maintenance: −$2,276
• − Management: −$2,276
• − Depreciation: −$5,804
• Taxable loss: −$1,042
• Est. tax savings @ 24.0%: +$250
• After-tax cash flow: $2,210/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: Waukegan CUSD 60
• NCES district ID: 1741250
• Math proficiency: 7% ▼ -8.00%
• Reading proficiency: 10% ▼ -8.00%
• Median HH income: $43,248
• Composite: 7.73/100
• National rank: #9939
• State rank: #587 of 620 in IL

Livability — Waukegan

• Score: 75/100
• State rank: #216
• US rank: #4074

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Waukegan, IL
• County: Lake County · 591,991 people
• City population: 99,634
• Metro: Chicago-Naperville-Elgin, IL-IN-WI
• Population (ZIP): 72,341
• Household income: $66,793
• Rent vs Own: 51.8% rent · 48.2% own
• Severe rent burden: 2742.0

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 0.57)
• Race & ethnicity: Hispanic / Latino 62% Two or more races 24% Black 14% White 14% Asian 6% Native American 2%
• Hispanic origin (detail): Mexican 51% Puerto Rican 3%
• Common ancestry: Romanian 1% British 1% Portuguese 1%
• Foreign-born: 34% · Canada, Jamaica
• Languages at home: 39% English-only · Spanish 54% Tagalog/Filipino 2% 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: ▼ -114.04%
• Current HPI: 203.6304
• Rent YoY: ▲ 3.24%
• 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

+26.3% since first listed

5 events — show timeline

• 2026-05-07 Contingent — MRED as Distributed by MLS Grid
• 2026-04-17 Listed $199,500 MRED as Distributed by MLS Grid
• 2026-04-09 Listing Removed — MRED as Distributed by MLS Grid
• 2005-12-01 Sold (Public Records) $215,000 Public Records
• 1995-10-27 Sold (Public Records) $158,000 Public Records

Property tax history

+0.9%/yr

Latest (2024): $6,961 · +2.0% YoY. Source: county tax records.