1041 Forest Ave · Deerfield, IL 60015

$550,000

3 bd · 2.0 ba · 2,058 sqft · SingleFamily public records · 28 Days on market

Built 1979 6,250 sqft lot Est $582k · 6% under

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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 +10.5/30.0
• ARV discount +10.0/15.0
• Schools +5.9/10.0
• Livability +4.2/5.0
• 1% rule +3.9/10.0
• DSCR +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Desirable Deerfield location on a great block! Walk to downtown Deerfield, Metra, library, shopping, restaurants and parks. This freshly painted 4 bedroom, 2 bath home packs a punch. The brand new kitchen features all white cabinets, subway tiles and quartz countertops. The open galley kitchen backs up to the living room, which features a wood burning fireplace with wraparound brick hearth. Newly sanded and refinished hardwood flooring throughout the main floor. Three main floor bedrooms share a spacious full bath with new vanity. The finished basement is 900sf with a fourth bedroom and full bath as well as large family room, laundry and huge crawl space for storage. Plenty of green space in the backyard plus a side yard that is great for grilling and a dog run. Newer furnace, a/c and windows. Feeds to award winning Deerfield schools: Walden Elementary, Shepard Middle School and Deerfield High School.

Key facts

• Spacious backyard
• Separate side yard
• Updated kitchen

Tags

• UPDATED KITCHEN
• WOOD BURNING FIREPLACE
• NEWLY ADDED EN SUITE BATHROOM
• FINISHED LOWER LEVEL
• SPACIOUS BACKYARD
• SEPARATE SIDE YARD

Property features AI

Finance

• Other: Property located in the Deerfield Park subdivision; Directions: Waukegan Road north to Hazel; west to Forest; north to home
• HOA & community: No master association fee required; Community features include curbs, sidewalks and paved streets

Exterior

• Parking: Attached garage with garage door opener; Garage owned (1 garage space); Asphalt parking surface; Total parking for 1 vehicle
• Utilities: Public water; Public sewer; Electric service with circuit breakers
• Home design: Detached single-family home; One-story design; Fee simple ownership; Rehab completed in 2022; Built approximately 41–50 years ago; Assessor-reported living area
• Construction: Brick construction; Asphalt roof; Concrete perimeter foundation
• Exterior features: Patio; Porch; Fenced yard; Lot dimensions approximately 50 x 125

Interior

• Kitchen: Galley kitchen; Range; Dishwasher; Refrigerator; Disposal; Stainless steel appliances
• Bedrooms: Primary bedroom on main level (17 x 10); Bedroom on main level (14 x 10); Bedroom on main level (13 x 10); Additional bedroom in basement (18 x 14)
• Flooring: Hardwood floors in main living areas and bedrooms; Slate flooring in kitchen; Laminate/wood laminate flooring in basement family room and basement bedroom; Other flooring in laundry room
• Bathrooms: Three full bathrooms; Basement contains a bathroom
• Heating & cooling: Natural gas forced-air heating; Central air conditioning
• Interior features: First-floor bedroom; First-floor full bath; Finished full basement; Unfinished attic; Separate dining room; Screens on windows; One wood-burning, double-sided fireplace in the living room; 8 total rooms
• Laundry & utility: Laundry room in basement (8 x 6); Washer; Dryer

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $550k.

Deal economics

• At list price, monthly cash flow is $-281 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $500k (9.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $489k (11.1% below list).
• Recommended offer: $489k (11.1% below list) — sets the bar for 1% rule.
• Cap rate 5.7% vs local median 3.8% in Deerfield — 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 84/100 on livability (#35 in IL, #705 nationally) — a professional / high-income tenant draw. Strengths: crime A+, commute A+, employment A+; Watch: amenities C-, health & safety C-, cost of living F.
• Twp Hsd 113 (suburban): math 60% / reading 63% proficiency, ranked #19 of 620 in IL (top 3%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Deerfield High School (math 67% / reading 69%, grade B, #9 of 693 statewide, top 1%, 1,483 students, 0% FRL).
• Market conditions: 117 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); high-income renter base; 948 units permitted in Lake County in 2024 (424 in 5+ unit buildings).
• This rent runs 32% of the median local income ($183k/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 $4k of loan paydown is wiped out by about $16k 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 28 days — a 2% lower offer ($542k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 20y ago; this cycle's ask is 47% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $405k; 36% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $489,077 (11.1% 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. Built in 1979 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
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: 0.89% ✗
• Cap rate: 5.68%
• Cash-on-cash: -2.19%
• DSCR: 0.90
• GRM: 9.4

CMA / ARV

• ARV (on-the-fly): $582,414
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1106 Waukegan Rd	0.21mi	4/2.5 (+1)	2,120 (+3%)	1mo	$650,000	$307	77
953 Clay Ct	0.15mi	4/3.0 (+1)	2,000 (-3%)	5mo	$750,000	$375	75
900 Fairoaks Ave	0.17mi	3/2.0	1,802 (-12%)	1mo	$510,000	$283	71
1041 Sheridan Ave	0.07mi	4/2.0 (+1)	1,794 (-13%)	5mo	$380,000	$212	66
735 Jonquil Ter	0.39mi	4/2.5 (+1)	2,189 (+6%)	4mo	$550,000	$251	61
742 Pine St	0.55mi	3/2.0	1,876 (-9%)	1mo	$430,000	$229	59
627 Grove Ave	0.53mi	4/2.5 (+1)	2,200 (+7%)	1mo	$835,000	$380	56
527 Cumnor Ct	0.69mi	4/2.0 (+1)	2,143 (+4%)	0mo	$630,000	$294	56
1444 Crowe Ave	0.55mi	3/2.5	1,886 (-8%)	6mo	$755,000	$400	53
534 Cumnor Ct	0.70mi	4/3.0 (+1)	2,119 (+3%)	1mo	$525,000	$248	53
521 Deerfield Rd	0.68mi	3/2.0	1,803 (-12%)	4mo	$485,000	$269	44
816 Appletree Ln	0.67mi	3/3.0	2,250 (+9%)	6mo	$465,000	$207	44

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: -19.9%
• Equity multiple: 0.31×
• Total profit: $-106,732
• Equity at exit: $82,007

10-year hold

• IRR: -12.6%
• Equity multiple: 0.25×
• Total profit: $-114,823
• Equity at exit: $47,554

Cash invested: $154,000 (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 60015

• Active inventory: 117
• Price-to-rent: 9.4×

Monthly cashflow live

• Estimated rent: $4,891 high
• Mortgage (P&I): −$2,884
• Tax from tax record: −$1,031 /mo · $12,375/yr
• Insurance: −$229
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,027
• Net cashflow: $-281

Break-even live

Break-even rent $5,246

Max offer price $500,370

Occupancy floor —

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: $137,500
• Closing costs: $16,500
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1150 Blackthorn Ln Deerfield, IL	3.0	2.5	1566	$4,500	$2.87	24d	1	0.47mi
1430 Waukegan Rd Deerfield, IL	3.0	3.0	1562	$3,800	$2.43	24d	1	0.47mi
728 Waukegan Rd Deerfield, IL	3.0	2.0	1767	$7,000	$3.96	24d	1	0.53mi
728 Waukegan Rd Unit 209 Deerfield, IL	3.0	2.5	1767	$5,950	$3.37	16d	1	0.53mi
728 Waukegan Rd Unit 209 Deerfield, IL	3.0	2.5	1767	$5,950	$3.37	22d	1	0.53mi
1006 Brookside Ln Deerfield, IL	3.0	2.0	2074	$3,900	$1.88	24d	1	0.62mi
631 Thayer St Deerfield, IL	1.0–3.0	1.5–2.5	1791	$7,900	$4.41	1d	1	1.20mi
630 Thayer St Deerfield, IL	1.0–3.0	1.5–2.5	1791	$7,500	$4.19	1d	15	1.20mi

Listing history 23 events

1. 2026-05-21
   status Pending
2. 2026-04-27
   historical Contingent - No Showings
3. 2022-06-06
   soldstatus $405,000
4. 2022-05-31
   soldstatus $405,000 Closed 914-char remark

   Show marketing remark (914 chars)

   Desirable Deerfield location on a great block! Walk to downtown Deerfield, Metra, library, shopping, restaurants and parks. This freshly painted 4 bedroom, 2 bath home packs a punch. The brand new kitchen features all white cabinets, subway tiles and quartz countertops. The open galley kitchen backs up to the living room, which features a wood burning fireplace with wraparound brick hearth. Newly sanded and refinished hardwood flooring throughout the main floor. Three main floor bedrooms share a spacious full bath with new vanity. The finished basement is 900sf with a fourth bedroom and full bath as well as large family room, laundry and huge crawl space for storage. Plenty of green space in the backyard plus a side yard that is great for grilling and a dog run. Newer furnace, a/c and windows. Feeds to award winning Deerfield schools: Walden Elementary, Shepard Middle School and Deerfield High School.

5. 2022-04-13
   historical Contingent - Continue to Show 914-char remark

   Show marketing remark (914 chars)

   Desirable Deerfield location on a great block! Walk to downtown Deerfield, Metra, library, shopping, restaurants and parks. This freshly painted 4 bedroom, 2 bath home packs a punch. The brand new kitchen features all white cabinets, subway tiles and quartz countertops. The open galley kitchen backs up to the living room, which features a wood burning fireplace with wraparound brick hearth. Newly sanded and refinished hardwood flooring throughout the main floor. Three main floor bedrooms share a spacious full bath with new vanity. The finished basement is 900sf with a fourth bedroom and full bath as well as large family room, laundry and huge crawl space for storage. Plenty of green space in the backyard plus a side yard that is great for grilling and a dog run. Newer furnace, a/c and windows. Feeds to award winning Deerfield schools: Walden Elementary, Shepard Middle School and Deerfield High School.

6. 2022-04-07
   listed $375,000 Active 914-char remark

   Show marketing remark (914 chars)

   Desirable Deerfield location on a great block! Walk to downtown Deerfield, Metra, library, shopping, restaurants and parks. This freshly painted 4 bedroom, 2 bath home packs a punch. The brand new kitchen features all white cabinets, subway tiles and quartz countertops. The open galley kitchen backs up to the living room, which features a wood burning fireplace with wraparound brick hearth. Newly sanded and refinished hardwood flooring throughout the main floor. Three main floor bedrooms share a spacious full bath with new vanity. The finished basement is 900sf with a fourth bedroom and full bath as well as large family room, laundry and huge crawl space for storage. Plenty of green space in the backyard plus a side yard that is great for grilling and a dog run. Newer furnace, a/c and windows. Feeds to award winning Deerfield schools: Walden Elementary, Shepard Middle School and Deerfield High School.

7. 2017-06-12
   historical
8. 2017-05-31
   listed New
9. 2017-05-31
   historical
10. 2017-03-29
    listed New
11. 2017-01-26
    soldstatus $320,000
12. 2017-01-20
    soldstatus $320,000 Closed Sale
13. 2016-10-14
    historical Contingent
14. 2016-10-01
    listed $350,000 New
15. 2016-10-01
    historical
16. 2016-09-17
    price
17. 2016-09-08
    price
18. 2016-08-31
    price
19. 2016-08-02
    listed New
20. 2007-02-26
    historical
21. 2006-10-25
    listed
22. 1993-12-13
    soldstatus $174,500
23. 1989-11-01
    soldstatus $152,000

ⓘ 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: $12,375 · $1,031/mo
• Projected year-2 tax: $12,430 · $1,036/mo
• Expected delta: +$55/yr (+$5/mo · 0.4%)

ⓘ 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 ≥99°F today · 14 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $58,689
• − Mortgage interest: −$30,809
• − Property taxes: −$12,375
• − Insurance: −$2,750
• − Repairs & maintenance: −$4,695
• − Management: −$4,695
• − Depreciation: −$16,000
• Taxable loss: −$12,634
• Est. tax savings @ 24.0%: +$3,032
• After-tax cash flow: $-339/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: Twp Hsd 113
• NCES district ID: 1719080
• Math proficiency: 60% ▼ -6.00%
• Reading proficiency: 63% ▼ -5.00%
• Median HH income: $122,404
• Composite: 59.23/100
• National rank: #937
• State rank: #19 of 620 in IL

Livability — Deerfield

• Score: 84/100
• State rank: #35
• US rank: #705

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Deerfield, IL
• County: Lake County · 591,991 people
• City population: 28,096
• Metro: Chicago-Naperville-Elgin, IL-IN-WI
• Population (ZIP): 28,096
• Household income: $183,125
• Rent vs Own: 15.3% rent · 84.7% own
• Severe rent burden: 450.0

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: Predominantly White (84%)
• Race & ethnicity: White 84% Asian 8% Hispanic / Latino 5% Two or more races 3% Black 1%
• Common ancestry: Romanian 11% Scotch-Irish 10% Italian 4%
• Foreign-born: 14% · China, South Korea, Canada
• Languages at home: 82% English-only · Russian/Polish/Slavic 6% Other Indo-European 3% Spanish 3%

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: ▼ -318.91%
• Current HPI: 184.8993
• Rent YoY: —
• 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

+166.4% since first listed

23 events — show timeline

• 2026-05-21 Pending — MRED as Distributed by MLS Grid
• 2026-04-27 Contingent — MRED as Distributed by MLS Grid
• 2022-06-06 Sold (Public Records) $405,000 Public Records
• 2022-05-31 Sold (MLS) $405,000 MRED as Distributed by MLS Grid
• 2022-04-13 Contingent — MRED as Distributed by MLS Grid
• 2022-04-07 Listed $375,000 MRED as Distributed by MLS Grid
• 2017-06-12 Listing Removed — MRED as Distributed by MLS Grid
• 2017-05-31 Listed — MRED as Distributed by MLS Grid
• 2017-05-31 Listing Removed — MRED as Distributed by MLS Grid
• 2017-03-29 Listed — MRED as Distributed by MLS Grid
• 2017-01-26 Sold (Public Records) $320,000 Public Records
• 2017-01-20 Sold (MLS) $320,000 MRED as Distributed by MLS Grid
• 2016-10-14 Contingent — MRED as Distributed by MLS Grid
• 2016-10-01 Listed $350,000 MRED as Distributed by MLS Grid
• 2016-10-01 Listing Removed — MRED as Distributed by MLS Grid
• 2016-09-17 Price Changed — MRED as Distributed by MLS Grid
• 2016-09-08 Price Changed — MRED as Distributed by MLS Grid
• 2016-08-31 Price Changed — MRED as Distributed by MLS Grid
• 2016-08-02 Listed — MRED as Distributed by MLS Grid
• 2007-02-26 Listing Removed — MRED as Distributed by MLS Grid
• 2006-10-25 Listed — MRED as Distributed by MLS Grid
• 1993-12-13 Sold (Public Records) $174,500 Public Records
• 1989-11-01 Sold (Public Records) $152,000 Public Records

Property tax history

+3.8%/yr

Latest (2024): $12,375 · +38.8% YoY. Source: county tax records.