ZIP CODE 60085 // CHICAGO-NAPERVILLE-ELGIN, IL-IN-WI // DATA AS OF 2026-09-30
Waukegan, IL (60085) Rental Property Cap Rate & Cash Flow Report
Located in Lake County (Waukegan, IL), Zip Code 60085 ranks #55 of 500 within this selected sample (89th percentile) with a Zillow ZHVI typical home-value index of $239,587 (+7.1% YoY) and a ZORI observed market rent of $1,710/mo (+1.8% YoY). Requires at least 34.1% down payment at 6.5% interest to reach $0/mo break-even cash flow. This model combines different housing populations; it is not an observed average property return. Costs assume state-average tax, 0.5% annual insurance, 13% reserves and no HOA or management. Figures below follow your edits; this headline describes the original benchmark.
Net Monthly Cash Flow
-$213/mo
Annual: -$2,555/yr
Modeled Cap Rate
5.00%
NOI: $11,982/yr
Cash-on-Cash Return
-4.64%
Cash Needed: $55,105
1% Rule Ratio
0.71%
Gross Yield: 8.56%
Break-Even Rent
$1,955/mo
State Tax: 1.95%/yr
INTERACTIVE PRO-FORMA STATEMENT (ZIP 60085 BENCHMARK)
Edit any value
Purchase Price (ZHVI proxy)
Monthly Gross Rent (ZORI proxy)
Down Payment (%)
Interest Rate (30Y Fixed %)
Annual Property Tax (IL Avg 1.95%)
Annual Home Insurance ($)
Monthly HOA Fee ($)
Monthly Debt Service (P&I)
-$1,211/mo
Monthly Operating Expenses (Tax + Ins + 13% Reserves)
-$711/mo
HISTORICAL ZHVI PRICE VS. ZORI RENT TRAJECTORY (60085)
| Year | ZHVI Value | ZORI Rent | Gross Yield |
|---|---|---|---|
| 2022 | $182,074 | $1,344/mo | 8.86% |
| 2023 | $193,074 | $1,445/mo | 8.98% |
| 2024 | $213,598 | $1,558/mo | 8.75% |
| 2025 | $223,753 | $1,680/mo | 9.01% |
| 2026 | $239,587 | $1,710/mo | 8.56% |
COMPARABLE U.S. RENTAL MARKETS
| Zip / City | Price | Rent | Cap Rate | Cash Flow |
|---|---|---|---|---|
| 60620 Chicago, IL | $182,454 | $1,305/mo | 5.02% | -$160/mo |
| 60623 Chicago, IL | $227,958 | $1,581/mo | 4.79% | -$243/mo |
| 60609 Chicago, IL | $263,163 | $1,642/mo | 4.06% | -$439/mo |
| 60651 Chicago, IL | $284,370 | $1,751/mo | 3.98% | -$495/mo |
| 60617 Chicago, IL | $180,176 | $1,497/mo | 6.22% | +$23/mo |
| 60632 Chicago, IL | $288,846 | $1,551/mo | 3.16% | -$701/mo |