492 Tyler Ct · Vernon Hills, IL 60061

$260,000

3 bd · 1.5 ba · 1,200 sqft · Condo public records · 13 Days on market

Built 1978 $265/mo HOA · 11% of rent

---

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 +11.0/30.0
• ARV discount +7.5/15.0
• Schools +5.7/10.0
• 1% rule +4.5/10.0
• Livability +4.0/5.0
• Rent growth +3.3/5.0
• DSCR +3.2/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to 492 Tyler Court, a rare opportunity to own a well loved and lived in home offered by its original owner. Nestled in the New Century Town Subdivision in sought-after Vernon Hills, this residence has been cherished over the years and is now ready for its next chapter. This 3BR, 1.5 bath and 1 car garage property is being sold AS-IS and is investor friendly.

Key facts

• $265 HOA
• Garage
• Built 1978

Property features AI

Finance

• HOA & community: Monthly association fee; Pets allowed (cats and dogs)

Exterior

• Parking: Attached garage (1 garage space, 1 total parking space)
• Home design: Attached single condo
• Construction: Built 41–50 years ago; No pre-1978 construction

Interior

• Bedrooms: 3 bedrooms; Includes master bedroom; Additional bedroom labeled as 'Bedroom 4'
• Bathrooms: 1 full bathroom; 1 half bathroom
• Interior features: Dining room; Family room; Living room; Laundry room
• Laundry & utility: Laundry room

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath condo listed at $260k.

Deal economics

• At list price, monthly cash flow is $-110 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $244k (6.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $247k (5.0% below list).
• Recommended offer: $244k (6.1% below list) — sets the bar for cash-flow.
• Cap rate 5.8% vs local median 3.1% in Vernon Hills — 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 81/100 on livability (#97 in IL, #1,577 nationally) — a professional / high-income tenant draw. Strengths: crime A+, amenities A+, employment A+; Watch: commute F, cost of living F.
• Chsd 128 (suburban): math 60% / reading 63% proficiency, ranked #22 of 620 in IL (top 4%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Hawthorn Sch of Dual Language (math 27% / reading 27%, grade F, #749 of 2,056 statewide, top 40%, 409 students, 0% FRL); Hawthorn Middle School North (math 37% / reading 43%, grade F, #140 of 665 statewide, top 22%, 623 students, 0% FRL); Vernon Hills High School (math 63% / reading 64%, grade B-, #14 of 693 statewide, top 2%, 1,505 students, 0% FRL).
• Zoned-school proficiency averages 44% at this address vs 62% district-wide (-18 pts) — the specific schools serving this property underperform the Chsd 128 average; the district grade overstates school quality for this exact location.
• Market conditions: Rents rising (+3.3%/yr); 77 active listings in the ZIP; 35 comparable units currently listed for rent nearby; rentals at typical pace (median 24d 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

• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.

Recommended offer $244,017 (6.1% 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 1978 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.95% ✗
• Cap rate: 5.78%
• Cash-on-cash: -1.82%
• DSCR: 0.92
• GRM: 8.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.28% rent growth · sell at horizon

5-year hold

• IRR: -18.8%
• Equity multiple: 0.34×
• Total profit: $-48,268
• Equity at exit: $38,767

10-year hold

• IRR: -10.5%
• Equity multiple: 0.35×
• Total profit: $-47,397
• Equity at exit: $22,480

Cash invested: $72,800 (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 60061

• Rents YoY: 3.3%
• Active inventory: 77
• Price-to-rent: 8.8×

Monthly cashflow live

• Estimated rent: $2,470 high
• Mortgage (P&I): −$1,363
• Tax est. 1.5%: −$325 /mo · $3,900/yr
• Insurance: −$108
• HOA: −$265
• Vacancy / Maint / Mgmt: −$519
• Net cashflow: $-110

Break-even live

Break-even rent $2,610

Max offer price $244,017

Occupancy floor 99%

Sensitivity live

Price	-10% $69	-5% $-21	+0% $-110	+5% $-200	+10% $-290
Rent	-10% $-306	-5% $-208	+0% $-110	+5% $-13	+10% $85
Rate	-1.0pp $20	-0.5pp $-44	base $-110	+0.5pp $-178	+1.0pp $-246

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: $65,000
• Closing costs: $7,800
• Reserves months: —
• Total cash needed: —

Rent comps 35 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
473 Stevenson Pl Vernon Hills, IL	3.0	1.5	1200	$2,400	$2.00	5d	1	0.02mi
476 Harrison Ct Vernon Hills, IL	2.0	1.0	1092	$2,200	$2.01	23d	1	0.08mi
474 Harrison Ct Vernon Hills, IL	3.0	1.5	1200	$2,350	$1.96	19d	1	0.08mi
13 Crestview Ln #12 Vernon Hills, IL	2.0	1.5	948	$1,750	$1.85	9d	1	0.50mi
1003 Centurion Ln #7 Vernon Hills, IL	2.0	1.5	998	$2,100	$2.10	5d	1	0.53mi
841 Gladstone Dr Vernon Hills, IL	2.0	1.5	1172	$2,299	$1.96	26d	1	0.54mi
4 Crestview Ln #10 Vernon Hills, IL	2.0	1.5	948	$1,875	$1.98	23d	1	0.57mi
2 Timber Ln #17 Vernon Hills, IL	2.0	1.5	948	$1,850	$1.95	26d	1	0.58mi
18 Echo Ct Vernon Hills, IL	2.0	1.5	1050	$2,300	$2.19	26d	1	0.60mi
6 Parkside Ct #2 Vernon Hills, IL	2.0	1.5	948	$2,000	$2.11	26d	1	0.61mi
4 Echo Ct #16 Vernon Hills, IL	2.0	1.5	948	$2,000	$2.11	26d	1	0.66mi
1207 Orleans Dr Mundelein, IL	2.0	2.5	1150	$2,199	$1.91	19d	1	0.79mi
1250 Streamwood Ln #338 Vernon Hills, IL	3.0	2.0	1424	$2,750	$1.93	26d	1	0.85mi
1254 N Streamwood Ln Unit 1254 Vernon Hills, IL	3.0	2.0	1450	$2,850	$1.97	19d	1	0.86mi
184 Brook Ln #350 Vernon Hills, IL	3.0	2.0	1490	$2,600	$1.74	26d	1	0.89mi
174 Bluewater Ln #288 Vernon Hills, IL	3.0	2.0	1450	$2,650	$1.83	4d	1	0.93mi
1312 Coventry Cir #1312 Vernon Hills, IL	3.0	2.0	1424	$2,800	$1.97	26d	1	0.95mi
1100 Huntington Dr Mundelein, IL	3.0	1.0–2.0	972	$3,894	$4.01	0d	26	0.97mi
304 Creekside Dr #304 Vernon Hills, IL	2.0	1.5	1012	$2,400	$2.37	26d	1	0.99mi
223 Harvest Ct Vernon Hills, IL	2.0	1.5	1012	$2,300	$2.27	26d	1	1.01mi
271 Southwick Ct Unit 271 Vernon Hills, IL	2.0	1.0	1189	$2,250	$1.89	26d	1	1.02mi
242 Harvest Ct Vernon Hills, IL	2.0	1.5	1112	$2,250	$2.02	17d	1	1.02mi
242 Harvest Ct Vernon Hills, IL	2.0	1.5	1112	$2,250	$2.02	3d	1	1.02mi
1219 Huntington Dr Mundelein, IL	2.0	1.5	1024	$2,395	$2.34	26d	1	1.03mi
1310 Cromwell Ct #1310 Vernon Hills, IL	2.0	1.0	1180	$2,250	$1.91	26d	1	1.03mi
226 Coventry Cir Vernon Hills, IL	3.0	2.0	1450	$2,800	$1.93	26d	1	1.04mi
1411 Wentworth Ct #1411 Vernon Hills, IL	2.0	2.0	1189	$2,300	$1.93	23d	1	1.05mi
118 Bedford Rd Mundelein, IL	2.0	1.5	1024	$2,350	$2.29	4d	1	1.08mi
136 Brookwood Ct Vernon Hills, IL	2.0	1.5	1248	$2,400	$1.92	4d	1	1.08mi
136 Brookwood Ct Vernon Hills, IL	2.0	1.5	1248	$2,300	$1.84	0d	1	1.08mi
132 Brookwood Ct Vernon Hills, IL	2.0	1.5	950	$2,200	$2.32	0d	1	1.08mi
410 Ashwood Ct Unit 410 Vernon Hills, IL	2.0	1.5	1248	$2,300	$1.84	23d	1	1.24mi
341 Birchwood Ct Vernon Hills, IL	2.0	1.0	1000	$2,100	$2.10	26d	1	1.30mi
750 Hawthorn Row Vernon Hills, IL	2.0	2.0	1202	$4,632	$3.85	26d	1	1.49mi
1155 Museum Blvd Unit 03-0703 Vernon Hills, IL	2.0	2.0	1216	$3,130	$2.57	26d	1	1.50mi

HOA detail condo

• Monthly dues: $265 · $3,180/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 8 events

1. 2026-06-21
   days on market $260,000 Coming Soon 13 DOM
2. 2026-06-18
   days on market $260,000 Coming Soon 10 DOM
3. 2026-06-17
   days on market $260,000 Coming Soon 9 DOM
4. 2026-06-16
   days on market $260,000 Coming Soon 8 DOM
5. 2026-06-15
   days on market $260,000 Coming Soon 7 DOM
6. 2026-06-13
   days on market $260,000 Coming Soon 5 DOM
7. 2026-06-09
   remarks 368-char remark
8. 2026-06-09
   listed $260,000 Coming Soon 1 DOM

ⓘ 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: $29,641
• − Mortgage interest: −$14,564
• − Property taxes: −$3,900
• − Insurance: −$1,300
• − Repairs & maintenance: −$2,371
• − Management: −$2,371
• − HOA: −$3,180
• − Depreciation: −$7,564
• Taxable loss: −$5,609
• Est. tax savings @ 24.0%: +$1,346
• After-tax cash flow: $21/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: Chsd 128
• NCES district ID: 1722830
• Math proficiency: 60% ▼ -13.00%
• Reading proficiency: 63% ▼ -9.00%
• Median HH income: $100,202
• Composite: 57.11/100
• National rank: #1101
• State rank: #22 of 620 in IL

Livability — Vernon Hills

• Score: 81/100
• State rank: #97
• US rank: #1577

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Vernon Hills, IL
• County: Lake County · 591,991 people
• City population: 27,974
• Metro: Chicago-Naperville-Elgin, IL-IN-WI
• Population (ZIP): 27,974
• Household income: $124,468
• Rent vs Own: 31.8% rent · 68.2% own
• Severe rent burden: 927.0

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 0.59)
• Race & ethnicity: White 57% Asian 25% Hispanic / Latino 12% Two or more races 6% Black 2%
• Hispanic origin (detail): Mexican 9% Puerto Rican 1%
• Common ancestry: Romanian 6% Scotch-Irish 6% Portuguese 2%
• Foreign-born: 33% · Canada, China, South Korea
• Languages at home: 59% English-only · Spanish 9% Russian/Polish/Slavic 9% Other Indo-European 9%

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: ▼ -197.67%
• Current HPI: 215.4718
• Rent YoY: ▲ 3.28%
• 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