574 Lakewood Blvd · Park Forest, IL 60466

$145,000

4 bd · 1.5 ba · 1,450 sqft · SingleFamily public records · 149 Days on market

Built 1956 0.28 ac lot Est $180k · 19% under

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Why this score? — see what drove the B 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 +29.1/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +0.9/10.0
• Appreciation +0.0/10.0

Listing remarks

Looking for YOUR new home or INVESTMENT?!?! This property is a GO-TO show & tell piece! It has ideal amenities & features your heart desires! Equipped with 3 bedrooms, 1.5 bathrooms, washer AND dryer INCLUDED! Let's NOT forget the recently installed furnace & hot water heater! Also included is central air that you WILL NEED to remain COOL! This MARVEL has an AMPLE supply of land to walk the dog, HOST cookouts/parties, OR add to your investment portfolio! TWO detached outdoor sheds for your tools, gardening equipment, OR additional storage needs! Finally we can NOT forget the game room for those FAMILY game nights! Schedule your showing TODAY and MOVE IN!

Key facts

• Ample supply of land
• Hot water heater
• Game room

Tags

• RECENTLY INSTALLED FURNACE
• HOT WATER HEATER
• CENTRAL AIR
• AMPLE SUPPLY OF LAND
• TWO DETACHED OUTDOOR SHEDS
• GAME ROOM

Property features AI

Exterior

• Home design: House
• Exterior features: Lot of approximately 12,005 sq ft

What this means for you Summary

Snapshot

• This is a 4-bed/1.5-bath single-family listed at $145k.

Deal economics

• At list price, monthly cash flow is $500 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $145k).
• Recommended offer: $128k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 78/100 on livability (#148 in IL, #2,726 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: schools D+, amenities F.
• Rich Twp Hsd 227 (suburban): math 5% / reading 12% proficiency, ranked #577 of 620 in IL (top 93%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 102 active listings in the ZIP; 15 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); 6,272 units permitted in Cook County in 2024 (4,658 in 5+ unit buildings).
• This rent runs 45% of the median local income ($62k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $41k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 149 days — a 12% lower offer ($128k) is reasonable based on typical stale-listing flexibility.
• 3 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 $60k; list at $145k implies a 142% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 4.1% of price; built in 1956 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $127,600 (12.0% below list)

Questions for the listing agent

1. It's been on market 149 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1956 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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: 1.58% ✓
• Cap rate: 10.43%
• Cash-on-cash: 14.76%
• DSCR: 1.66
• GRM: 5.3

CMA / ARV

• ARV (on-the-fly): $179,800
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
356 Waverly St	0.15mi	3/2.0 (-1)	1,419 (-2%)	2mo	$120,000	$85	81
354 Westgate Dr	0.31mi	3/1.5 (-1)	1,470 (+1%)	2mo	$75,000	$51	77
339 Blackhawk Dr	0.37mi	3/2.0 (-1)	1,417 (-2%)	1mo	$234,200	$165	71
4 Lakewood Ct	0.37mi	4/2.0	1,556 (+7%)	2mo	$205,000	$132	67
340 Sauk Trl	0.29mi	3/2.0 (-1)	1,576 (+9%)	1mo	$180,000	$114	64
109 Wilson St	0.43mi	3/2.0 (-1)	1,525 (+5%)	1mo	$233,500	$153	64
356 Wilshire St	0.21mi	3/1.5 (-1)	1,248 (-14%)	2mo	$50,000	$40	60
287 Mohawk St	0.59mi	3/1.0 (-1)	1,408 (-3%)	1mo	$175,000	$124	60
289 Westwood Dr	0.47mi	3/1.5 (-1)	1,664 (+15%)	1mo	$95,102	$57	47
251 Westwood Dr	0.45mi	3/2.0 (-1)	1,248 (-14%)	2mo	$217,000	$174	47
245 Miami St	0.72mi	3/1.0 (-1)	1,363 (-6%)	2mo	$139,000	$102	47
433 Lakewood Blvd	0.69mi	3/1.5 (-1)	1,248 (-14%)	2mo	$165,000	$132	38

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: 5.4%
• Equity multiple: 1.21×
• Total profit: $8,543
• Equity at exit: $21,620

10-year hold

• IRR: 14.9%
• Equity multiple: 2.21×
• Total profit: $49,317
• Equity at exit: $12,537

Cash invested: $40,600 (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 60466

• Home prices YoY: -21.1%
• Active inventory: 102
• Price-to-rent: 5.3×

Monthly cashflow live

• Estimated rent: $2,291 high
• Mortgage (P&I): −$760
• Tax from tax record: −$490 /mo · $5,879/yr
• Insurance: −$60
• HOA: −$0
• Vacancy / Maint / Mgmt: −$481
• Net cashflow: $500

Break-even live

Break-even rent $1,659

Max offer price $145,000

Occupancy floor 73%

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: $36,250
• Closing costs: $4,350
• Reserves months: —
• Total cash needed: —

Rent comps 15 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
400 Watseka St Park Forest, IL	4.0	2.0	1161	$2,161	$1.86	16d	1	0.31mi
4014 Euclid Ln Richton Park, IL	3.0	1.0	1100	$2,100	$1.91	13d	1	0.49mi
4200 Arlington Dr Richton Park, IL	3.0	2.0	1595	$2,061	$1.29	20d	1	0.83mi
411 Huron St Park Forest, IL	3.0	1.0	1092	$2,300	$2.11	25d	1	0.99mi
277 Somonauk St Park Forest, IL	3.0	1.0	966	$2,000	$2.07	3d	1	1.00mi
372 Oswego St Park Forest, IL	4.0	1.0	1200	$2,600	$2.17	25d	1	1.11mi
22015 E Churchill Dr Richton Park, IL	4.0	2.0	1200	$2,300	$1.92	25d	1	1.13mi
490 Shabbona Dr Park Forest, IL	3.0	1.0	1300	$1,895	$1.46	3d	1	1.20mi
441 Talala St Park Forest, IL	4.0	2.0	1740	$2,500	$1.44	25d	1	1.28mi
3538 212th Pl Matteson, IL	3.0	1.0	1209	$2,000	$1.65	25d	1	1.29mi
111 Nashua St Park Forest, IL	4.0	1.5	1500	$2,500	$1.67	25d	1	1.30mi
235 Tampa St Park Forest, IL	3.0	1.0	1092	$2,000	$1.83	25d	1	1.40mi
194 Monee Rd Park Forest, IL	3.0	1.0	1092	$1,971	$1.80	22d	1	1.43mi
3324 Western Ave Park Forest, IL	1.0–3.0	1.0	1026	$1,995	$1.94	1d	11	1.44mi
19 Apple Ln Park Forest, IL	3.0	1.0	1541	$2,300	$1.49	12d	1	1.47mi

Listing history 13 events

1. 2026-06-03
   days on market $145,000 Active 149 DOM
2. 2026-06-02
   days on market $145,000 Active 148 DOM
3. 2026-06-01
   days on market $145,000 Active 147 DOM
4. 2026-05-31
   days on market $145,000 Active 146 DOM
5. 2026-03-05
   price $145,000
6. 2026-01-05
   listed $150,000 Active
7. 2025-11-16
   historical
8. 2025-09-23
   price
9. 2025-09-15
   status Active
10. 2025-08-07
    historical
11. 2025-07-20
    price
12. 2025-05-16
    listed Active
13. 1999-06-17
    soldstatus $60,000

ⓘ 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: $5,879 · $490/mo
• Projected year-2 tax: $5,879 · $490/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 3/10 Moderate 7 d/yr ≥101°F today · 16 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: $27,498
• − Mortgage interest: −$8,122
• − Property taxes: −$5,879
• − Insurance: −$725
• − Repairs & maintenance: −$2,200
• − Management: −$2,200
• − Depreciation: −$4,218
• Taxable income: $4,154
• Est. tax owed @ 24.0%: −$997
• After-tax cash flow: $4,997/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: Rich Twp Hsd 227
• NCES district ID: 1733420
• Math proficiency: 5% ▼ -3.00%
• Reading proficiency: 12% ▬ 0.00%
• Median HH income: $56,056
• Composite: 8.93/100
• National rank: #9885
• State rank: #577 of 620 in IL

Livability — Park Forest

• Score: 78/100
• State rank: #148
• US rank: #2726

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Park Forest, IL
• County: Cook County · 4,486,803 people
• City population: 21,461
• Metro: Chicago-Naperville-Elgin, IL-IN-WI
• Population (ZIP): 21,461
• Household income: $61,654
• Rent vs Own: 33.7% rent · 66.3% own
• Severe rent burden: 900.0

Population outlook (Cook County) Hauer SSP2

• Today (2025): 5,347,519 people
• By 2030: 5,357,703 · +0.2%
• By 2040: 5,324,924 · -0.4%
• By 2050: 5,230,762 · -2.2%
• By 2075: 4,785,735 · -10.5%
• By 2100: 4,188,836 · -21.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly Black (69%)
• Race & ethnicity: Black 69% White 19% Hispanic / Latino 9% Two or more races 3% Native American 1%
• Hispanic origin (detail): Mexican 8%
• Common ancestry: Romanian 2% Iranian 1% Italian 1%
• Foreign-born: 6% · Canada
• Languages at home: 90% English-only · Spanish 7% French/Haitian/Cajun 1% Russian/Polish/Slavic 1%

Political lean MEDSL · Cook

• 2024 margin: Solid D (+42.0) · D 70.4% · R 28.4% · Other 1.2%
• 2008→2024 swing: -11.4pp toward R · 2008: 53.4pp · 2024: 42.0pp
• All cycles: 2024: D+42.0 2020: D+50.3 2016: D+53.0 2012: D+49.4 2008: D+53.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -58.87%
• Current HPI: 219.9692
• Rent YoY: —
• 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

+141.7% since first listed

9 events — show timeline

• 2026-03-05 Price Changed $145,000 ForSaleByOwner.com
• 2026-01-05 Listed $150,000 ForSaleByOwner.com
• 2025-11-16 Listing Removed — MRED as Distributed by MLS Grid
• 2025-09-23 Price Changed — MRED as Distributed by MLS Grid
• 2025-09-15 Relisted — MRED as Distributed by MLS Grid
• 2025-08-07 Listing Removed — MRED as Distributed by MLS Grid
• 2025-07-20 Price Changed — MRED as Distributed by MLS Grid
• 2025-05-16 Listed — MRED as Distributed by MLS Grid
• 1999-06-17 Sold (Public Records) $60,000 Public Records

Property tax history

+2.4%/yr

Latest (2023): $5,879 · +448.4% YoY. Source: county tax records.