218 Mastodon Dr · Fox Lake, IL 60041

$390,000

3 bd · 2.0 ba · 1,238 sqft · SingleFamily public records · 66 Days on market

Built 1979 8,232 sqft lot Est $288k · 35% over

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Why this score? — see what drove the F 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 +14.0/30.0
• DSCR +4.3/10.0
• 1% rule +4.0/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks

Enjoy peaceful water views and everyday comfort in this well-maintained 3-bedroom, 2.1-bath split-level home, perfectly situated across from Manitou Creek with access leading right to Fox Lake. Whether you're sipping your morning coffee or unwinding at sunset, the setting offers a relaxing, nature-filled backdrop. A standout feature of this property is that you co-own, along with two neighbors, a portion of the lot directly across the street, complete with a floating pier-perfect for docking your water toys and enjoying easy access to the water whenever you please. Inside, you'll find a functional layout with plenty of space to spread out. The lower level is a true highlight-featuring a coz

Key facts

• Wet bar
• Floating pier
• Access to fox lake

Tags

• ACCESS TO FOX LAKE
• FLOATING PIER
• WOOD-BURNING FIREPLACE
• DEDICATED LAUNDRY ROOM
• WET BAR
• 3-SEASON ROOM

Property features AI

Finance

• Other: Lot is less than 0.25 acre (approx. 66 x 125); Lot size per county records; Listing possession at closing
• HOA & community: No master association fee required; Community includes water rights

Exterior

• Parking: Attached garage on asphalt driveway; 2 garage spaces (2 total parking spaces)
• Utilities: Public water; Public sewer; Gas service for heating and water heater; Electric service (standard)
• Home design: Detached single-family home; Tri-level / multi-level layout; Fee simple ownership; School bus service available; Located in a flood zone
• Construction: Built approximately 41-50 years ago; Vinyl siding with brick veneer; Asphalt roof; Tri-level foundation/layout
• Exterior features: Hot tub; Boat slip; Water view; Water rights

Interior

• Kitchen: Range; Microwave; Dishwasher; Refrigerator; Kitchen includes eating area and pantry/closet
• Bedrooms: 3 bedrooms (master and two additional bedrooms on the second level)
• Flooring: Luxury vinyl in kitchen, eating area, and one second-floor bedroom; Carpet in master bedroom and one bedroom; Parquet flooring in living and dining areas; Ceramic tile in foyer, sun room, lower-level family room and laundry
• Bathrooms: 2 full bathrooms and 1 half bathroom; Half bath attached to master bedroom
• Heating & cooling: Forced air heat (natural gas); Central air conditioning; CO detectors; Ceiling fan(s)
• Interior features: Finished full basement; Basement has a wood-burning fireplace; Screens on windows; 8 total rooms
• Laundry & utility: Washer and dryer included; Water heater (gas); Sump pump with backup; Owned water softener

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $390k.

Deal economics

• At list price, monthly cash flow is $53 ($634/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 $351k (9.9% below list).
• Recommended offer: $351k (9.9% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 74/100 on livability (#247 in IL, #4,462 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, commute A; Watch: amenities D+, health & safety F.
• Grant Chsd 124 (suburban): math 23% / reading 27% proficiency, ranked #296 of 620 in IL (top 48%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Grant Community High School (math 23% / reading 27%, grade F, #247 of 693 statewide, top 36%, 1,837 students, 0% FRL).
• Market conditions: 35 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 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 $3k of loan paydown is wiped out by about $12k 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 66 days — a 6% lower offer ($367k) 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.
• Current owner paid $125k; list at $390k implies a 212% gain — meaningful room to come down on a strong offer.

Recommended offer $351,301 (9.9% below list)

Questions for the listing agent

1. It's been on market 66 days. Have you received any prior offers? Is the seller open to a 10% concession, seller financing, or rate buy-down credit?
2. Built in 1979 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 0.90% ✗
• Cap rate: 6.46%
• Cash-on-cash: 0.58%
• DSCR: 1.03
• GRM: 9.3

CMA / ARV

• ARV (on-the-fly): $288,454
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
502 Monroe Ave	0.27mi	3/2.0	1,160 (-6%)	13mo	$270,000	$233	66
314 Mastodon Dr	0.09mi	2/1.0 (-1)	1,092 (-12%)	4mo	$287,500	$263	64
404 Monroe Ave	0.19mi	3/2.0	1,368 (+10%)	12mo	$290,000	$212	63
35737 N Hunt Ave	0.70mi	3/1.5	1,300 (+5%)	1mo	$350,000	$269	56
35694 N Helendale Rd	0.65mi	3/1.0	1,275 (+3%)	10mo	$179,900	$141	53
28 Rushmore Rd	0.56mi	4/2.0 (+1)	1,120 (-10%)	1mo	$318,000	$284	52
29 S Hickory Ave	0.70mi	2/1.5 (-1)	1,195 (-4%)	4mo	$180,000	$151	52
26238 W Hickory Ln	0.70mi	3/3.0	1,260 (+2%)	11mo	$360,000	$286	51
34 Hawthorne Ln	0.52mi	3/1.0	1,319 (+6%)	13mo	$285,000	$216	50
38 Lippincott Rd	0.69mi	2/2.0 (-1)	1,152 (-7%)	3mo	$270,000	$234	49
11 S Lake Ave	0.68mi	2/1.0 (-1)	1,140 (-8%)	4mo	$189,900	$167	43
35663 N Helendale Rd	0.69mi	4/1.5 (+1)	1,416 (+14%)	6mo	$300,000	$212	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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -15.4%
• Equity multiple: 0.45×
• Total profit: $-59,760
• Equity at exit: $58,150

10-year hold

• IRR: -6.8%
• Equity multiple: 0.57×
• Total profit: $-47,420
• Equity at exit: $33,720

Cash invested: $109,200 (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 60041

• Home prices YoY: -25.0%
• Active inventory: 35
• Price-to-rent: 9.3×

Monthly cashflow live

• Estimated rent: $3,513 medium
• Mortgage (P&I): −$2,045
• Tax from tax record: −$515 /mo · $6,177/yr
• Insurance: −$162
• HOA: −$0
• Vacancy / Maint / Mgmt: −$738
• Net cashflow: $53

Break-even live

Break-even rent $3,446

Max offer price $390,000

Occupancy floor 94%

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: $97,500
• Closing costs: $11,700
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
28 Glen Ave Fox Lake, IL	3.0	1.0	1212	$2,300	$1.90	7d	1	1.42mi
525 Circle Dr Unit 1374784P Fox Lake, IL	3.0	2.0	1140	$4,830	$4.24	1d	1	1.45mi

Listing history 19 events

1. 2026-06-18
   days on market $390,000 Active 66 DOM
2. 2026-06-17
   days on market $390,000 Active 65 DOM
3. 2026-06-16
   days on market $390,000 Active 64 DOM
4. 2026-06-15
   pricedays on market $390,000 Active 63 DOM
5. 2026-06-13
   pricedays on market $385,000 Active 61 DOM
6. 2026-06-09
   days on market $400,000 Active 57 DOM
7. 2026-06-08
   days on market $400,000 Active 56 DOM
8. 2026-06-07
   days on market $400,000 Active 55 DOM
9. 2026-06-04
   days on market $400,000 Active 52 DOM
10. 2026-06-03
    days on market $400,000 Active 51 DOM
11. 2026-06-02
    days on market $400,000 Active 50 DOM
12. 2026-06-01
    days on market $400,000 Active 49 DOM
13. 2026-05-31
    days on market $400,000 Active 48 DOM
14. 2026-05-06
    status Active
15. 2026-04-27
    historical Contingent - Continue to Show
16. 2026-04-13
    listed $400,000 Active
17. 1992-09-09
    soldstatus $125,000
18. 1988-10-01
    soldstatus $122,000
19. 1984-11-01
    soldstatus $86,900

ⓘ 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: $6,177 · $515/mo
• Projected year-2 tax: $7,515 · $626/mo
• Expected delta: +$1,338/yr (+$112/mo · 21.7%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 2/10 Low FEMA zone X (unshaded) · 9% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥100°F today · 14 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $42,156
• − Mortgage interest: −$21,846
• − Property taxes: −$6,177
• − Insurance: −$1,950
• − Repairs & maintenance: −$3,372
• − Management: −$3,372
• − Depreciation: −$11,345
• Taxable loss: −$5,907
• Est. tax savings @ 24.0%: +$1,418
• After-tax cash flow: $2,052/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: Grant Chsd 124
• NCES district ID: 1717340
• Math proficiency: 23% ▼ -9.00%
• Reading proficiency: 27% ▼ -7.00%
• Median HH income: $59,450
• Composite: 22.95/100
• National rank: #7989
• State rank: #296 of 620 in IL

Livability — Fox Lake

• Score: 74/100
• State rank: #247
• US rank: #4462

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Fox Lake, IL
• City population: 10,846
• Population (ZIP): 8,920

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 (65%)
• Race & ethnicity: White 65% Hispanic / Latino 23% Two or more races 15% Black 4% Asian 2%
• Hispanic origin (detail): Mexican 15% Puerto Rican 2% Cuban 2%
• Common ancestry: Romanian 12% Lithuanian 3% Iranian 2%
• Foreign-born: 8% · Canada
• Languages at home: 83% English-only · Spanish 15% Russian/Polish/Slavic 1% French/Haitian/Cajun 1%

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: ▼ -76.75%
• Current HPI: 230.4464
• Rent YoY: —
• Metro: —
• 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

+360.3% since first listed

6 events — show timeline

• 2026-05-06 Relisted — MRED as Distributed by MLS Grid
• 2026-04-27 Contingent — MRED as Distributed by MLS Grid
• 2026-04-13 Listed $400,000 MRED as Distributed by MLS Grid
• 1992-09-09 Sold (Public Records) $125,000 Public Records
• 1988-10-01 Sold (Public Records) $122,000 Public Records
• 1984-11-01 Sold (Public Records) $86,900 Public Records

Property tax history

+1.9%/yr

Latest (2024): $6,177 · +16.0% YoY. Source: county tax records.