338 E Lakeview Ave · Round Lake Beach, IL 60073

$174,900

3 bd · 1.0 ba · 580 sqft · SingleFamily public records · 16 Days on market

Built 1937 Est $150k · 17% over

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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 +27.9/30.0
• DSCR +9.9/10.0
• 1% rule +7.6/10.0
• Livability +4.0/5.0
• Schools +3.9/10.0
• Rent growth +3.2/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks

Multiple Offers Received! Highest and Best by Thursday 06/04/2026 by 8 PM * Cute 3 Bedroom/1 Bathroom Home is in the Grayslake School District * Nice Kitchen with Plenty of Beautiful Wood Cabinetry with New Hardware * Volume Ceilings * Vinyl Siding, Roof, Windows, Sewer & Water Line are 10 Years New * House has been Remodeled * Circuit Breakers for Electrical * Smart Ceiling Fan with Remote * Nice Neighborhood Close to the Shopping, Parks & more! There is Room for a Garage * House was "Off Market" because We Had to Put a Paved Driveway In * Actually was under contract but could not close due to the Driveway *

Key facts

• Nice kitchen
• Volume ceilings
• Vinyl siding

Tags

• GRAYSLAKE SCHOOL DISTRICT
• NICE KITCHEN
• WOOD CABINETRY
• NEW HARDWARE
• VOLUME CEILINGS
• VINYL SIDING

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $175k.

Deal economics

• At list price, monthly cash flow is $413 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $175k).
• Recommended offer: $172k (1.5% below list) — sets the bar for market timing.
• Cap rate 10.0% vs local median 5.8% in Round Lake Beach — 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 79/100 on livability (#125 in IL, #2,172 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: schools F, commute F.
• Grayslake Chsd 127 (suburban): math 40% / reading 44% proficiency, ranked #95 of 620 in IL (top 15%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising (+2.9%/yr); 97 active listings in the ZIP; 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 $5k 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 16 days — a 2% lower offer ($172k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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.

Risks & watch-outs

• Watch-outs: flood insurance adds $125/mo; built in 1937 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: in FEMA flood zone A (mandatory federal flood insurance) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $172,276 (1.5% below list)

Questions for the listing agent

1. Built in 1937 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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. 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.
6. 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.
7. 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: 1.26% ✓
• Cap rate: 9.98%
• Cash-on-cash: 13.18%
• DSCR: 1.59
• GRM: 6.6

CMA / ARV

• ARV (on-the-fly): $149,640
• Comps found: 5

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1416 Ridgeway Ave	0.33mi	2/1.5 (-1)	582 (+0%)	23mo	$165,000	$284	58
407 E Lake Ave	0.17mi	2/1.0 (-1)	627 (+8%)	24mo	$195,000	$311	54
332 E Clarendon Dr	0.56mi	2/1.0 (-1)	532 (-8%)	16mo	$137,000	$258	41
1516 N Ridgeway Ave	0.46mi	2/1.0 (-1)	665 (+15%)	20mo	$114,900	$173	33
1218 Sunnyside Ct	0.73mi	2/1.0 (-1)	660 (+14%)	8mo	$165,000	$250	31

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: -1.2%
• Equity multiple: 0.95×
• Total profit: $-2,241
• Equity at exit: $26,078

10-year hold

• IRR: 8.4%
• Equity multiple: 1.64×
• Total profit: $31,153
• Equity at exit: $15,122

Cash invested: $48,972 (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: 6.6×

Monthly cashflow live

• Estimated rent: $2,211 medium
• Mortgage (P&I): −$917
• Tax est. 1.5%: −$219 /mo · $2,624/yr
• Insurance: −$73
• Flood insurance flood zone: −$125 /mo · $1,502/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$464
• Net cashflow: $413

Break-even live

Break-even rent $1,688

Max offer price $174,900

Occupancy floor 76%

Sensitivity live

Price	-10% $533	-5% $473	+0% $413	+5% $352	+10% $292
Rent	-10% $238	-5% $325	+0% $413	+5% $500	+10% $587
Rate	-1.0pp $501	-0.5pp $457	base $413	+0.5pp $367	+1.0pp $321

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: $43,725
• Closing costs: $5,247
• Reserves months: —
• Total cash needed: —

Listing history 21 events

1. 2026-06-18
   days on market $174,900 Active 16 DOM
2. 2026-06-17
   days on market $174,900 Active 15 DOM
3. 2026-06-16
   days on market $174,900 Active 14 DOM
4. 2026-06-15
   status $174,900 Active 13 DOM
5. 2026-06-15
   days on market $174,900 Contingent - No Showings 13 DOM
6. 2026-06-13
   days on market $174,900 Contingent - No Showings 11 DOM
7. 2026-06-13
   days on market $174,900 Contingent - No Showings 10 DOM
8. 2026-06-09
   days on market $174,900 Contingent - No Showings 7 DOM
9. 2026-06-08
   days on market $174,900 Contingent - No Showings 6 DOM
10. 2026-06-08
    status $174,900 Contingent - No Showings 5 DOM
11. 2026-06-07
    remarks 620-char remark
12. 2026-06-07
    days on market $174,900 Active 5 DOM
13. 2026-06-04
    days on market $174,900 Active 2 DOM
14. 2026-06-03
    remarks 546-char remark
15. 2026-06-03
    pricestatusdays on marketlisting id $174,900 Active 1 DOM
16. 2026-06-02
    days on market $169,900 Temporarily No Showings 128 DOM
17. 2026-06-01
    days on market $169,900 Temporarily No Showings 127 DOM
18. 2026-05-31
    days on market $169,900 Temporarily No Showings 126 DOM
19. 2026-03-17
    status Temporarily No Showings
20. 2026-02-04
    historical Contingent - No Showings
21. 2026-01-25
    listed $169,900 Active

ⓘ 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 A · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥100°F today · 14 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $26,529
• − Mortgage interest: −$9,797
• − Property taxes: −$2,624
• − Insurance: −$2,377
• − Repairs & maintenance: −$2,122
• − Management: −$2,122
• − Depreciation: −$5,088
• Taxable income: $2,399
• Est. tax owed @ 24.0%: −$576
• After-tax cash flow: $4,376/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: Grayslake Chsd 127
• NCES district ID: 1717550
• Math proficiency: 40% ▼ -7.00%
• Reading proficiency: 44% ▼ -9.00%
• Median HH income: $84,295
• Composite: 39.42/100
• National rank: #3963
• State rank: #95 of 620 in IL

Livability — Round Lake Beach

• Score: 79/100
• State rank: #125
• US rank: #2172

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Round Lake Beach, IL
• County: Lake County · 591,991 people
• 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

Price history

3 events — show timeline

• 2026-03-17 Relisted — MRED as Distributed by MLS Grid
• 2026-02-04 Contingent — MRED as Distributed by MLS Grid
• 2026-01-25 Listed $169,900 MRED as Distributed by MLS Grid

Property tax history

-10.1%/yr

Latest (2024): $334 · -76.7% YoY. Source: county tax records.