34089 N White Oak Ln · Gages Lake, IL 60031

$270,000

3 bd · 2.0 ba · 1,330 sqft · Other · 17 Days on market

Built 1991 Good condition

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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 +13.9/30.0
• ARV discount +7.5/15.0
• DSCR +4.2/10.0
• 1% rule +3.9/10.0
• Condition / age +3.8/5.0
• Schools +3.7/10.0
• Livability +3.7/5.0
• Rent growth +3.4/5.0
• Appreciation +0.0/10.0

Listing remarks

Beautifully updated 3-bedroom, 1.5-bath condo-style townhome located in the highly desirable Gurnee School District. This move-in-ready home combines modern updates, functional living space, and a convenient location close to shopping, dining, parks, and major commuter routes. The updated kitchen features quartz countertops, newer appliances (approximately 4 years old), recessed lighting, and custom pantry shelving for added storage and organization. Throughout the home, electrical outlets have been updated, and thoughtful improvements enhance both comfort and functionality. Recent upgrades include remodeled bathrooms, a bathroom exhaust fan with built-in heater, recessed lighting, and a br

Key facts

• Quartz countertops
• Newer appliances
• Updated kitchen

Tags

• UPDATED KITCHEN
• QUARTZ COUNTERTOPS
• NEWER APPLIANCES
• CUSTOM PANTRY SHELVING
• REMODELED BATHROOMS
• BATHROOM EXHAUST FAN

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath other listed at $270k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $29 ($351/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $240k (11.2% below list).
• Recommended offer: $240k (11.2% below list) — sets the bar for 1% rule.
• Cap rate 6.4% vs local median 3.9% in Gages 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 73/100 on livability (#291 in IL) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, crime A; Watch: amenities F, commute F, health & safety F.
• Warren Twp Hsd 121 (suburban): math 34% / reading 43% proficiency, ranked #124 of 620 in IL (top 20%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Woodland Elementary (math 24% / reading 24%, grade F, #850 of 2,056 statewide, top 45%, 1,425 students, 0% FRL); Woodland Middle School (math 10% / reading 10%, grade F, #583 of 665 statewide, top 89%, 1,668 students, 0% FRL); Warren Township High School (math 34% / reading 43%, grade F, #100 of 693 statewide, top 15%, 3,758 students, 0% FRL).
• Zoned-school proficiency averages 24% at this address vs 38% district-wide (-14 pts) — the specific schools serving this property underperform the Warren Twp Hsd 121 average; the district grade overstates school quality for this exact location.
• Market conditions: Rents rising (+3.5%/yr); 72 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 21d 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k 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 17 days — a 2% lower offer ($266k) is reasonable based on typical stale-listing flexibility.

Recommended offer $239,894 (11.2% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. Schools are B-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?
3. 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?
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: 0.89% ✗
• Cap rate: 6.42%
• Cash-on-cash: 0.46%
• DSCR: 1.02
• GRM: 9.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.51% rent growth · sell at horizon

5-year hold

• IRR: -15.0%
• Equity multiple: 0.46×
• Total profit: $-40,615
• Equity at exit: $40,258

10-year hold

• IRR: -5.5%
• Equity multiple: 0.63×
• Total profit: $-27,691
• Equity at exit: $23,345

Cash invested: $75,600 (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 60031

• Home prices YoY: -28.7%
• Rents YoY: 3.5%
• Active inventory: 72
• Price-to-rent: 9.4×

Monthly cashflow live

• Estimated rent: $2,399 medium
• Mortgage (P&I): −$1,416
• Tax est. 1.5%: −$338 /mo · $4,050/yr
• Insurance: −$112
• HOA: −$0
• Vacancy / Maint / Mgmt: −$504
• Net cashflow: $29

Break-even live

Break-even rent $2,362

Max offer price $270,000

Occupancy floor 94%

Sensitivity live

Price	-10% $216	-5% $123	+0% $29	+5% $-64	+10% $-157
Rent	-10% $-160	-5% $-66	+0% $29	+5% $124	+10% $219
Rate	-1.0pp $165	-0.5pp $98	base $29	+0.5pp $-41	+1.0pp $-112

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: $67,500
• Closing costs: $8,100
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
33617 N Evergreen Dr Grayslake, IL	2.0	1.5	1200	$2,000	$1.67	17d	1	0.96mi
33458 N Evergreen Dr Grayslake, IL	3.0	2.0	1311	$3,195	$2.44	20d	1	1.08mi
736 Chandler Rd Gurnee, IL	2.0	2.0	1300	$2,100	$1.62	26d	1	1.23mi
939 Chase Ct Gurnee, IL	2.0	2.0	1162	$2,300	$1.98	9d	1	1.30mi

Listing history 13 events

1. 2026-06-21
   days on market $270,000 Active 17 DOM
2. 2026-06-21
   days on market $270,000 Active 16 DOM
3. 2026-06-18
   days on market $270,000 Active 14 DOM
4. 2026-06-17
   days on market $270,000 Active 13 DOM
5. 2026-06-16
   days on market $270,000 Active 12 DOM
6. 2026-06-15
   days on market $270,000 Active 11 DOM
7. 2026-06-13
   days on market $270,000 Active 9 DOM
8. 2026-06-12
   days on market $270,000 Active 8 DOM
9. 2026-06-09
   days on market $270,000 Active 5 DOM
10. 2026-06-08
    days on market $270,000 Active 4 DOM
11. 2026-06-07
    days on market $270,000 Active 3 DOM
12. 2026-06-07
    remarks 699-char remark
13. 2026-06-07
    listed $270,000 Active 2 DOM

ⓘ 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 X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥98°F today · 14 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $28,787
• − Mortgage interest: −$15,124
• − Property taxes: −$4,050
• − Insurance: −$1,350
• − Repairs & maintenance: −$2,303
• − Management: −$2,303
• − Depreciation: −$7,855
• Taxable loss: −$4,197
• Est. tax savings @ 24.0%: +$1,007
• After-tax cash flow: $1,358/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 · 2 photos

Good 75/100 Cosmetic rehab

This move-in-ready home in Gurnee School District features updated kitchens and bathrooms, good exterior condition, and well-maintained landscaping. Minor exterior painting and gutter cleaning would further enhance its curb appeal and value.

Value-add opportunities

• Both Paint exterior and trim — Enhances curb appeal and can increase both resale and rental value.
• Both Inspect and clean gutters — Prevents water damage and improves home's overall appearance.

Renovation cost estimate screening

Value-add ROI direction

• Both Paint exterior and trim — Enhances curb appeal and can increase both resale and rental value. ↑
• Both Inspect and clean gutters — Prevents water damage and improves home's overall appearance. ↑

ⓘ 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: Warren Twp Hsd 121
• NCES district ID: 1740800
• Math proficiency: 34% ▼ -8.00%
• Reading proficiency: 43% ▼ -5.00%
• Median HH income: $86,523
• Composite: 36.71/100
• National rank: #4595
• State rank: #124 of 620 in IL

Livability — Gages Lake

• Score: 73/100
• State rank: #291
• US rank: #5564

Category grades

Amenities F Commute F Cost of living C+ 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: Gages Lake, IL
• County: Lake County · 591,991 people
• Metro: Chicago-Naperville-Elgin, IL-IN-WI
• Population (ZIP): 37,107
• Household income: $111,034
• Rent vs Own: 22.1% rent · 77.9% own
• Severe rent burden: 660.0

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 0.58)
• Race & ethnicity: White 61% Hispanic / Latino 16% Asian 12% Two or more races 10% Black 7% Native American 1%
• Hispanic origin (detail): Mexican 9% Puerto Rican 1% Cuban 1%
• Common ancestry: Romanian 9% Portuguese 3% Lithuanian 2%
• Foreign-born: 16% · Canada, Jamaica, South Korea
• Languages at home: 74% English-only · Spanish 11% Other Indo-European 5% Tagalog/Filipino 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: ▼ -82.15%
• Current HPI: 204.0711
• Rent YoY: ▲ 3.51%
• 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

1 event — show timeline

• 2026-06-05 Listed $270,000 FSBO.com