119 Hay St · Park Forest, IL 60466

$178,000

3 bd · 1.5 ba · 1,121 sqft · SingleFamily public records · 14 Days on market

Built 1958 Est $165k · 8% 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 +25.3/30.0
• DSCR +8.3/10.0
• 1% rule +5.6/10.0
• ARV discount +3.9/15.0
• 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

Estate sale. Home in fair condition needs cosmetic updates and some repairs. Seeking highest and best offers. Will schedule open house for interested parties tbd. New a/c

Key facts

• Built 1958
• Listed 14 days

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $178k.

Deal economics

• At list price, monthly cash flow is $403 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $178k).

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; 11 comparable units currently listed for rent nearby; rentals leasing fast (median 4d on market — plan ~1-2 weeks tenant-placement turnaround); 6,272 units permitted in Cook County in 2024 (4,658 in 5+ unit buildings).
• This rent runs 37% 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 $5k of value loss. Plan a longer hold.

Negotiation context

• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $61k; list at $178k implies a 192% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1958 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $178,000

Questions for the listing agent

1. Built in 1958 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 1.06% ✓
• Cap rate: 9.01%
• Cash-on-cash: 9.70%
• DSCR: 1.43
• GRM: 7.8

CMA / ARV

• ARV (on-the-fly): $164,787
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
212 Berry St	0.25mi	4/2.0 (+1)	1,121 (0%)	0mo	$190,694	$170	81
410 Todd St	0.28mi	4/1.5 (+1)	1,121 (0%)	3mo	$194,900	$174	80
128 Algonquin St	0.45mi	3/1.0	1,150 (+3%)	2mo	$169,000	$147	71
1621 Ingrid Ln	0.42mi	3/1.0	1,194 (+6%)	1mo	$173,000	$145	66
118 Well St	0.57mi	3/1.0	1,092 (-3%)	2mo	$177,000	$162	66
150 Algonquin St	0.54mi	2/1.5 (-1)	1,092 (-3%)	2mo	$170,000	$156	64
231 Farragut St	0.44mi	3/1.5	1,224 (+9%)	2mo	$102,000	$83	62
315 Illinois St	0.47mi	3/1.5	1,212 (+8%)	3mo	$174,000	$144	62
566 Minette Ln	0.51mi	3/1.0	1,066 (-5%)	6mo	$95,000	$89	61
300 Indiana St	0.47mi	3/1.5	1,209 (+8%)	6mo	$170,000	$141	60
312 Illinois St	0.48mi	3/1.5	1,250 (+12%)	5mo	$216,047	$173	55
1946 Wooster Ct	0.43mi	3/1.0	985 (-12%)	5mo	$48,500	$49	54

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: -1.7%
• Equity multiple: 0.93×
• Total profit: $-3,247
• Equity at exit: $26,540

10-year hold

• IRR: 7.9%
• Equity multiple: 1.60×
• Total profit: $29,976
• Equity at exit: $15,390

Cash invested: $49,840 (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: 7.8×

Monthly cashflow live

• Estimated rent: $1,892 high
• Mortgage (P&I): −$933
• Tax from tax record: −$84 /mo · $1,009/yr
• Insurance: −$74
• HOA: −$0
• Vacancy / Maint / Mgmt: −$397
• Net cashflow: $403

Break-even live

Break-even rent $1,382

Max offer price $178,000

Occupancy floor 74%

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: $44,500
• Closing costs: $5,340
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
631 Andover St Chicago Heights, IL	3.0	1.0	900	$1,450	$1.61	4d	1	0.26mi
444 Hickory St Unit 2A Chicago Heights, IL	3.0	1.0	900	$1,695	$1.88	1d	1	0.74mi
436 W Hickory St Unit Na Chicago Heights, IL	3.0	1.0	1091	$1,800	$1.65	1d	1	0.75mi
432 Hickory St Unit 2 Chicago Heights, IL	3.0	1.0	1200	$1,800	$1.50	21d	1	0.76mi
1267 Division St Unit 1267 Chicago Heights, IL	3.0	1.5	1200	$1,500	$1.25	1d	1	0.81mi
417 W Hickory St Unit 2 Chicago Heights, IL	3.0	1.0	900	$1,800	$2.00	21d	1	0.81mi
370 E 17th St Chicago Heights, IL	3.0	1.0	1058	$2,600	$2.46	17d	1	0.96mi
398 W Lincoln Hwy Unit 4 Chicago Heights, IL	3.0	2.0	1200	$1,850	$1.54	1d	1	1.01mi
3324 Western Ave Park Forest, IL	1.0–3.0	1.0	1026	$1,995	$1.94	1d	11	1.23mi
3538 212th Pl Matteson, IL	3.0	1.0	1209	$2,000	$1.65	25d	1	1.39mi
400 Watseka St Park Forest, IL	4.0	2.0	1161	$2,161	$1.86	16d	1	1.44mi

Listing history 2 events

1. 2026-05-12
   listed $178,000 Active
2. 1979-07-11
   soldstatus $61,000

ⓘ 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: $1,009 · $84/mo
• Projected year-2 tax: $2,525 · $210/mo
• Expected delta: +$1,516/yr (+$126/mo · 150.3%)

ⓘ 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 2/10 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: $22,701
• − Mortgage interest: −$9,971
• − Property taxes: −$1,009
• − Insurance: −$890
• − Repairs & maintenance: −$1,816
• − Management: −$1,816
• − Depreciation: −$5,178
• Taxable income: $2,021
• Est. tax owed @ 24.0%: −$485
• After-tax cash flow: $4,348/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

+191.8% since first listed

2 events — show timeline

• 2026-05-12 Listed $178,000 FSBO.com
• 1979-07-11 Sold (Public Records) $61,000 Public Records

Property tax history

-4.3%/yr

Latest (2023): $1,009 · -40.0% YoY. Source: county tax records.