49 N Lake Ave · Fox Lake, IL 60020

$479,000

4 bd · 4.5 ba · 2,667 sqft · SingleFamily public records · 41 Days on market

Built 1930 10,454 sqft lot Est $363k · 32% over

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Why this score? — see what drove the C 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 +28.3/30.0
• DSCR +10.0/10.0
• 1% rule +8.1/10.0
• 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

Welcome to this beautifully remodeled lake-area retreat with rare deeded access to the Chain O'Lakes, one of the most sought-after recreational water systems in Northern Illinois. Enjoy boating, dining, fishing, and waterfront living all summer long-directly from your private deeded strip of land with your own pier. Opportunities like this are hard to find and highly desirable. This spacious home offers over 3,100 square feet across three full levels of above-grade living space, making it ideal for large families, multi-generational living, or those who love to entertain. Completely renovated in 2020, the home blends modern finishes with warm, light-filled interiors and exceptional flexib

Key facts

• Newer hvac systems
• New stove installed
• Fresh interior paint

Tags

• FULL REMODEL COMPLETED IN 2020
• NEW ROOF IN 2023
• ATTIC INSULATION REDONE
• NEW STOVE INSTALLED
• FRESH INTERIOR PAINT
• NEWER HVAC SYSTEMS

Property features AI

Finance

• Other: School bus service available
• HOA & community: No master association fee required

Exterior

• Parking: Attached garage (garage owned) with garage door opener; Asphalt driveway; Approximately 2.5 garage/parking spaces total
• Utilities: Public water; Public sewer; Electric service with circuit breakers
• Home design: Detached single-family home; 3 stories; Fee simple ownership; Rehab completed in 2020; Built before 1978 (original age approx. 91–100 years)
• Construction: Vinyl siding exterior; Asphalt roof; Block foundation
• Exterior features: Patio; Balcony; Lakefront view; Community includes lake and water rights; Street paved

Interior

• Kitchen: Range; Microwave; Dishwasher; Refrigerator; Eating area with breakfast bar; Stainless steel appliances
• Bedrooms: 4 bedrooms (including master bedroom on second level); Bedroom 2 on second level; Bedroom 3 on second level; Bedroom 4 on main level; Master bedroom on second level with full bath
• Flooring: Laminate flooring throughout main living areas; Wood laminate in many rooms; Ceramic tile in basement bar/entertainment area
• Bathrooms: 4 full bathrooms; 1 half bathroom
• Heating & cooling: Natural gas heat; Central air conditioning
• Interior features: First-floor bedroom and first-floor full bath; Finished full basement; Separate dining room; 10 total rooms; Pull-down stair attic; Ceiling fans; Sump pump
• Laundry & utility: Washer and dryer included; Laundry room in walkout basement; Laundry available on main and upper levels

What this means for you Summary

Snapshot

• This is a 4-bed/4.5-bath single-family listed at $479k.

Deal economics

• At list price, monthly cash flow is $2k ($18k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($6k rent vs $479k).
• Recommended offer: $465k (3.0% below list) — sets the bar for market timing.
• Cap rate 10.2% vs local median 6.0% in Fox 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 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: 77 active listings in the ZIP; 1 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 $14k 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $134k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 41 days — a 3% lower offer ($465k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 14y ago 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 $315k; list at $479k implies a 52% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $464,630 (3.0% below list)

Questions for the listing agent

1. It's been on market 41 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1930 — 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 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?
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: 1.31% ✓
• Cap rate: 10.15%
• Cash-on-cash: 13.78%
• DSCR: 1.61
• GRM: 6.4

CMA / ARV

• ARV (on-the-fly): $362,712
• Comps found: 7

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
237 Fern Pl	0.11mi	4/2.0	2,576 (-3%)	19mo	$220,000	$85	63
18 Tweed Rd	0.20mi	4/2.0	2,750 (+3%)	23mo	$375,000	$136	56
10 N Poplar Ave	0.19mi	3/3.0 (-1)	2,562 (-4%)	23mo	$297,400	$116	54
127 E Grand Ave	0.49mi	4/3.5	3,028 (+14%)	2mo	$382,500	$126	49
30 N Holly Ave	0.63mi	4/2.5	2,762 (+4%)	9mo	$668,000	$242	49
100 E Grand Ave	0.55mi	4/3.0	2,500 (-6%)	14mo	$493,000	$197	46
42 N Holly Ave	0.66mi	5/3.5 (+1)	2,325 (-13%)	10mo	$690,000	$297	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: 4.0%
• Equity multiple: 1.15×
• Total profit: $20,666
• Equity at exit: $71,420

10-year hold

• IRR: 13.5%
• Equity multiple: 2.08×
• Total profit: $145,004
• Equity at exit: $41,415

Cash invested: $134,120 (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 60020

• Home prices YoY: -30.7%
• Active inventory: 77
• Price-to-rent: 6.4×

Monthly cashflow live

• Estimated rent: $6,280 medium
• Mortgage (P&I): −$2,512
• Tax from tax record: −$709 /mo · $8,509/yr
• Insurance: −$200
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,319
• Net cashflow: $1,541

Break-even live

Break-even rent $4,330

Max offer price $479,000

Occupancy floor 70%

Sensitivity live

Price	-10% $1,812	-5% $1,676	+0% $1,541	+5% $1,405	+10% $1,269
Rent	-10% $1,044	-5% $1,293	+0% $1,541	+5% $1,789	+10% $2,037
Rate	-1.0pp $1,782	-0.5pp $1,662	base $1,541	+0.5pp $1,416	+1.0pp $1,290

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: $119,750
• Closing costs: $14,370
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
10 N Pistakee Lake Rd Unit 1374789P Fox Lake, IL	4.0	2.0	1991	$6,280	$3.15	6d	1	1.19mi

Listing history 35 events

1. 2026-06-21
   days on market $479,000 Active 41 DOM
2. 2026-06-18
   days on market $479,000 Active 38 DOM
3. 2026-06-17
   days on market $479,000 Active 37 DOM
4. 2026-06-16
   days on market $479,000 Active 36 DOM
5. 2026-06-15
   days on market $479,000 Active 35 DOM
6. 2026-06-13
   days on market $479,000 Active 33 DOM
7. 2026-06-09
   days on market $479,000 Active 29 DOM
8. 2026-06-08
   days on market $479,000 Active 28 DOM
9. 2026-06-08
   price $479,000 Active 27 DOM
10. 2026-06-07
    days on market $499,000 Active 27 DOM
11. 2026-06-04
    days on market $499,000 Active 24 DOM
12. 2026-06-03
    days on market $499,000 Active 23 DOM
13. 2026-06-02
    days on market $499,000 Active 22 DOM
14. 2026-06-01
    days on market $499,000 Active 21 DOM
15. 2026-05-31
    days on market $499,000 Active 20 DOM
16. 2026-05-11
    listed $499,000 Active
17. 2026-05-11
    historical
18. 2026-04-06
    listed Active
19. 2026-04-06
    historical
20. 2026-03-17
    price
21. 2026-02-21
    listed Active
22. 2021-06-24
    soldstatus $315,000
23. 2021-05-04
    soldstatus $315,000 Closed Sale
24. 2021-04-01
    status Contingent
25. 2021-03-17
    listed $325,000 New
26. 2016-09-21
    historical
27. 2016-08-02
    listed New
28. 2016-08-02
    historical
29. 2016-05-27
    price
30. 2016-05-19
    listed New
31. 2013-11-16
    historical
32. 2012-04-14
    listed New
33. 2006-01-10
    soldstatus $188,500
34. 2005-11-23
    soldstatus $188,500
35. 2003-08-12
    soldstatus $220,000

ⓘ 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: $8,509 · $709/mo
• Projected year-2 tax: $9,691 · $808/mo
• Expected delta: +$1,182/yr (+$99/mo · 13.9%)

ⓘ 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 ≥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: $75,360
• − Mortgage interest: −$26,831
• − Property taxes: −$8,509
• − Insurance: −$2,395
• − Repairs & maintenance: −$6,029
• − Management: −$6,029
• − Depreciation: −$13,935
• Taxable income: $11,632
• Est. tax owed @ 24.0%: −$2,792
• After-tax cash flow: $15,695/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): 10,846

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 (80%)
• Race & ethnicity: White 80% Hispanic / Latino 12% Two or more races 10% Black 3%
• Hispanic origin (detail): Mexican 10% Puerto Rican 1%
• Common ancestry: Romanian 15% Portuguese 2% Italian 2%
• Foreign-born: 10% · Canada, South Korea
• Languages at home: 87% English-only · Spanish 6% Russian/Polish/Slavic 3% Other Indo-European 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: ▼ -97.19%
• Current HPI: 219.6301
• 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

+126.8% since first listed

20 events — show timeline

• 2026-05-11 Listing Removed — MRED as Distributed by MLS Grid
• 2026-05-11 Listed $499,000 MRED as Distributed by MLS Grid
• 2026-04-06 Listing Removed — MRED as Distributed by MLS Grid
• 2026-04-06 Listed — MRED as Distributed by MLS Grid
• 2026-03-17 Price Changed — MRED as Distributed by MLS Grid
• 2026-02-21 Listed — MRED as Distributed by MLS Grid
• 2021-06-24 Sold (Public Records) $315,000 Public Records
• 2021-05-04 Sold (MLS) $315,000 MRED as Distributed by MLS Grid
• 2021-04-01 Pending — MRED as Distributed by MLS Grid
• 2021-03-17 Listed $325,000 MRED as Distributed by MLS Grid
• 2016-09-21 Listing Removed — MRED as Distributed by MLS Grid
• 2016-08-02 Listed — MRED as Distributed by MLS Grid
• 2016-08-02 Listing Removed — MRED as Distributed by MLS Grid
• 2016-05-27 Price Changed — MRED as Distributed by MLS Grid
• 2016-05-19 Listed — MRED as Distributed by MLS Grid
• 2013-11-16 Listing Removed — MRED as Distributed by MLS Grid
• 2012-04-14 Listed — MRED as Distributed by MLS Grid
• 2006-01-10 Sold (Public Records) $188,500 Public Records
• 2005-11-23 Sold (Public Records) $188,500 Public Records
• 2003-08-12 Sold (Public Records) $220,000 Public Records

Property tax history

+3.4%/yr

Latest (2024): $8,509 · +15.1% YoY. Source: county tax records.