Addison Plan · Elgin, IL 60123

$160,900

3 bd · 2.0 ba · 1,356 sqft · Manufactured · 342 Days on market

Good condition ↓ 4% since listing

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +4.2/5.0
• Condition / age +4.0/5.0
• Rent growth +3.4/5.0
• Schools +1.9/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

55+ age qualified community. Welcome to Willow Lake Estates, a 55+ age-qualified active and vibrant community, where you can find yourself in your dream home. This beautiful 3 bed, 2 bath home offers 1,356 sq ft of thoughtfully designed living space, complete with a carport and nestled on a quiet street. Located in Elgin, Illinois, this home combines comfort, functionality, and modern, hassle-free living. Inside, you'll find a spacious layout filled with natural light, offering plenty of room for relaxing or entertaining. The well-appointed kitchen provides ample cabinetry and workspace, making daily living simple and enjoyable. The primary suite serves as a peaceful retreat with its own private bathroom and walk-in closet. Additional bedrooms are perfect for guests, an office, or hobbies. Enjoy easy-to-maintain landscaping, perfect for unwinding or spending time with friends and family. As a resident of Willow Lake Estates, you'll have access to outstanding community amenities, including a clubhouse, outdoor pool, billiards room, two spring-fed lakes, and beautifully maintained grounds with mature trees. Conveniently located close to shopping, dining, hospitals, and major expressways, everything you need is just minutes away. Whether you're looking for relaxation or an active lifestyle, this vibrant community has it all. Call us today to learn more about this wonderful new home coming soon! "Some photos have been virtually staged and enhanced using AI technology for

Key facts

• Clubhouse
• Community amenities
• Private bathroom

Tags

• WELL APPOINTED KITCHEN
• PRIVATE BATHROOM
• WALK IN CLOSET
• EASY TO MAINTAIN LANDSCAPING
• COMMUNITY AMENITIES
• CLUBHOUSE

🏗️ New construction. Builder plan / spec listing (the home may be to-be-built); metrics use comparable previous sales.

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $161k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $829 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $161k).
• Recommended offer: $142k (12.0% below list) — sets the bar for market timing.
• Cap rate 12.5% vs local median 3.4% in Elgin — 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 83/100 on livability (#47 in IL, #975 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, housing A+; Watch: health & safety C-, schools D-.
• SD U-46 (suburban): math 19% / reading 20% proficiency, ranked #386 of 620 in IL (top 62%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: Rents rising (+3.7%/yr); 93 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals leasing fast (median 5d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 1,944 units permitted in Kane County in 2024 (357 in 5+ unit buildings).
• This rent runs 34% of the median local income ($88k/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 $5k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.7% rent growth), your $45k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 342 days — a 12% lower offer ($142k) is reasonable based on typical stale-listing flexibility.

Recommended offer $141,592 (12.0% below list)

Questions for the listing agent

1. It's been on market 342 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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. 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: 1.53% ✓
• Cap rate: 12.47%
• Cash-on-cash: 22.08%
• DSCR: 1.98
• GRM: 5.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.69% rent growth · sell at horizon

5-year hold

• IRR: 15.6%
• Equity multiple: 1.63×
• Total profit: $28,469
• Equity at exit: $23,991

10-year hold

• IRR: 24.8%
• Equity multiple: 3.22×
• Total profit: $100,059
• Equity at exit: $13,912

Cash invested: $45,052 (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 60123

• Rents YoY: 3.7%
• Active inventory: 93
• Price-to-rent: 5.5×

Monthly cashflow live

• Estimated rent: $2,457 high
• Mortgage (P&I): −$844
• Tax est. 1.5%: −$201 /mo · $2,414/yr
• Insurance: −$67
• HOA: −$0
• Vacancy / Maint / Mgmt: −$516
• Net cashflow: $829

Break-even live

Break-even rent $1,408

Max offer price $160,900

Occupancy floor 61%

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: $40,225
• Closing costs: $4,827
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1900 Canterfield Pkwy E West Dundee, IL	3.0	1.0–2.0	1026	$2,696	$2.63	1d	6	1.05mi
50 Canterfield Pkwy W Dundee Township, IL	1.0–3.0	1.0–3.0	1075	$3,250	$3.02	43d	15	1.13mi
50 Canterfield Pkwy W Dundee Township, IL	3.0	3.0	1389	$3,250	$2.34	24d	1	1.13mi
50 Canterfield Pkwy W Dundee Township, IL	2.0	1.0	1018	$2,225	$2.19	2d	1	1.13mi
926 Congdon Ave Elgin, IL	1.0–3.0	1.0–1.5	813	$2,320	$2.85	1d	33	1.27mi
406 Prospect Blvd Unit 2 Elgin, IL	2.0	1.0	900	$1,525	$1.69	4d	1	1.38mi
1328 Shawford Way Elgin, IL	2.0	1.5	1500	$2,450	$1.63	43d	1	1.48mi

Listing history 17 events

1. 2026-06-18
   days on market $160,900 Active 342 DOM
2. 2026-06-17
   days on market $160,900 Active 341 DOM
3. 2026-06-16
   days on market $160,900 Active 340 DOM
4. 2026-06-15
   days on market $160,900 Active 339 DOM
5. 2026-06-13
   days on market $160,900 Active 337 DOM
6. 2026-06-09
   days on market $160,900 Active 333 DOM
7. 2026-06-08
   days on market $160,900 Active 332 DOM
8. 2026-06-07
   days on market $160,900 Active 331 DOM
9. 2026-06-04
   days on market $160,900 Active 328 DOM
10. 2026-06-03
    days on market $160,900 Active 327 DOM
11. 2026-06-02
    days on market $160,900 Active 326 DOM
12. 2026-06-01
    days on market $160,900 Active 325 DOM
13. 2026-05-31
    days on market $160,900 Active 324 DOM
14. 2026-04-29
    price $160,900 1497-char remark

    Show marketing remark (1497 chars)

    55+ age qualified community. Welcome to Willow Lake Estates, a 55+ age-qualified active and vibrant community, where you can find yourself in your dream home. This beautiful 3 bed, 2 bath home offers 1,356 sq ft of thoughtfully designed living space, complete with a carport and nestled on a quiet street. Located in Elgin, Illinois, this home combines comfort, functionality, and modern, hassle-free living. Inside, you'll find a spacious layout filled with natural light, offering plenty of room for relaxing or entertaining. The well-appointed kitchen provides ample cabinetry and workspace, making daily living simple and enjoyable. The primary suite serves as a peaceful retreat with its own private bathroom and walk-in closet. Additional bedrooms are perfect for guests, an office, or hobbies. Enjoy easy-to-maintain landscaping, perfect for unwinding or spending time with friends and family. As a resident of Willow Lake Estates, you'll have access to outstanding community amenities, including a clubhouse, outdoor pool, billiards room, two spring-fed lakes, and beautifully maintained grounds with mature trees. Conveniently located close to shopping, dining, hospitals, and major expressways, everything you need is just minutes away. Whether you're looking for relaxation or an active lifestyle, this vibrant community has it all. Call us today to learn more about this wonderful new home coming soon! "Some photos have been virtually staged and enhanced using AI technology for

15. 2026-03-05
    price $162,900 1497-char remark

    Show marketing remark (1497 chars)

    55+ age qualified community. Welcome to Willow Lake Estates, a 55+ age-qualified active and vibrant community, where you can find yourself in your dream home. This beautiful 3 bed, 2 bath home offers 1,356 sq ft of thoughtfully designed living space, complete with a carport and nestled on a quiet street. Located in Elgin, Illinois, this home combines comfort, functionality, and modern, hassle-free living. Inside, you'll find a spacious layout filled with natural light, offering plenty of room for relaxing or entertaining. The well-appointed kitchen provides ample cabinetry and workspace, making daily living simple and enjoyable. The primary suite serves as a peaceful retreat with its own private bathroom and walk-in closet. Additional bedrooms are perfect for guests, an office, or hobbies. Enjoy easy-to-maintain landscaping, perfect for unwinding or spending time with friends and family. As a resident of Willow Lake Estates, you'll have access to outstanding community amenities, including a clubhouse, outdoor pool, billiards room, two spring-fed lakes, and beautifully maintained grounds with mature trees. Conveniently located close to shopping, dining, hospitals, and major expressways, everything you need is just minutes away. Whether you're looking for relaxation or an active lifestyle, this vibrant community has it all. Call us today to learn more about this wonderful new home coming soon! "Some photos have been virtually staged and enhanced using AI technology for

16. 2026-02-11
    price $164,900 1497-char remark

    Show marketing remark (1497 chars)

    55+ age qualified community. Welcome to Willow Lake Estates, a 55+ age-qualified active and vibrant community, where you can find yourself in your dream home. This beautiful 3 bed, 2 bath home offers 1,356 sq ft of thoughtfully designed living space, complete with a carport and nestled on a quiet street. Located in Elgin, Illinois, this home combines comfort, functionality, and modern, hassle-free living. Inside, you'll find a spacious layout filled with natural light, offering plenty of room for relaxing or entertaining. The well-appointed kitchen provides ample cabinetry and workspace, making daily living simple and enjoyable. The primary suite serves as a peaceful retreat with its own private bathroom and walk-in closet. Additional bedrooms are perfect for guests, an office, or hobbies. Enjoy easy-to-maintain landscaping, perfect for unwinding or spending time with friends and family. As a resident of Willow Lake Estates, you'll have access to outstanding community amenities, including a clubhouse, outdoor pool, billiards room, two spring-fed lakes, and beautifully maintained grounds with mature trees. Conveniently located close to shopping, dining, hospitals, and major expressways, everything you need is just minutes away. Whether you're looking for relaxation or an active lifestyle, this vibrant community has it all. Call us today to learn more about this wonderful new home coming soon! "Some photos have been virtually staged and enhanced using AI technology for

17. 2025-07-11
    listed $166,900 Active 1497-char remark

    Show marketing remark (1497 chars)

    55+ age qualified community. Welcome to Willow Lake Estates, a 55+ age-qualified active and vibrant community, where you can find yourself in your dream home. This beautiful 3 bed, 2 bath home offers 1,356 sq ft of thoughtfully designed living space, complete with a carport and nestled on a quiet street. Located in Elgin, Illinois, this home combines comfort, functionality, and modern, hassle-free living. Inside, you'll find a spacious layout filled with natural light, offering plenty of room for relaxing or entertaining. The well-appointed kitchen provides ample cabinetry and workspace, making daily living simple and enjoyable. The primary suite serves as a peaceful retreat with its own private bathroom and walk-in closet. Additional bedrooms are perfect for guests, an office, or hobbies. Enjoy easy-to-maintain landscaping, perfect for unwinding or spending time with friends and family. As a resident of Willow Lake Estates, you'll have access to outstanding community amenities, including a clubhouse, outdoor pool, billiards room, two spring-fed lakes, and beautifully maintained grounds with mature trees. Conveniently located close to shopping, dining, hospitals, and major expressways, everything you need is just minutes away. Whether you're looking for relaxation or an active lifestyle, this vibrant community has it all. Call us today to learn more about this wonderful new home coming soon! "Some photos have been virtually staged and enhanced using AI technology for

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

Taxation est. · year 1

• Rental income: $29,480
• − Mortgage interest: −$9,013
• − Property taxes: −$2,414
• − Insurance: −$804
• − Repairs & maintenance: −$2,358
• − Management: −$2,358
• − Depreciation: −$4,681
• Taxable income: $7,851
• Est. tax owed @ 24.0%: −$1,884
• After-tax cash flow: $8,061/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.

Condition & rehab AI · 12 photos

Good 80/100 Cosmetic rehab

This home is in good condition with a modern kitchen and well-maintained exterior. It has potential for further value increases through exterior painting and landscaping improvements.

Value-add opportunities

• Resale Painting the exterior — Fresh paint can enhance curb appeal and property value
• Resale Landscaping improvements — Enhanced landscaping can attract more buyers
• Both Adding smart home features — Smart home features can increase both resale and rental value

Renovation cost estimate screening

Value-add ROI direction

• Resale Painting the exterior — Fresh paint can enhance curb appeal and property value ↑
• Resale Landscaping improvements — Enhanced landscaping can attract more buyers ↑
• Both Adding smart home features — Smart home features can increase both resale and rental value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: SD U-46
• NCES district ID: 1713710
• Math proficiency: 19% ▼ -7.00%
• Reading proficiency: 20% ▼ -7.00%
• Median HH income: $69,757
• Composite: 19.39/100
• National rank: #8783
• State rank: #386 of 620 in IL

Livability — Elgin

• Score: 83/100
• State rank: #47
• US rank: #975

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Elgin, IL
• County: Kane County · 361,735 people
• City population: 124,091
• Metro: Chicago-Naperville-Elgin, IL-IN-WI
• Population (ZIP): 48,379
• Household income: $87,693
• Rent vs Own: 27.2% rent · 72.8% own
• Severe rent burden: 1119.0

Population outlook (Kane County) Hauer SSP2

• Today (2025): 559,449 people
• By 2030: 568,757 · +1.7%
• By 2040: 575,969 · +3.0%
• By 2050: 563,477 · +0.7%
• By 2075: 492,321 · -12.0%
• By 2100: 380,943 · -31.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.63)
• Race & ethnicity: Hispanic / Latino 47% White 38% Two or more races 17% Black 6% Asian 5% Native American 1%
• Hispanic origin (detail): Mexican 38% Puerto Rican 4%
• Common ancestry: Romanian 5% Italian 2% Slovak 1%
• Foreign-born: 23% · Canada, Jamaica
• Languages at home: 57% English-only · Spanish 38% Other Asian/Pacific 1% Other Indo-European 1%

Political lean MEDSL · Kane

• 2024 margin: Lean D (+9.4) · D 54.0% · R 44.6% · Other 1.4%
• 2008→2024 swing: -2.4pp toward R · 2008: 11.8pp · 2024: 9.4pp
• All cycles: 2024: D+9.4 2020: D+14.4 2016: D+8.9 2012: D+0.9 2008: D+11.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -140.80%
• Current HPI: 226.0713
• Rent YoY: ▲ 3.69%
• 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

-3.6% since first listed

4 events — show timeline

• 2026-04-29 Price Changed $160,900 Zillow
• 2026-03-05 Price Changed $162,900 Zillow
• 2026-02-11 Price Changed $164,900 Zillow
• 2025-07-11 Listed $166,900 Zillow