360 Neola St · Park Forest, IL 60466

$137,000

3 bd · 1.0 ba · 1,434 sqft · SingleFamily public records · 37 Days on market

Built 1951 7,448 sqft lot Est $175k · 22% 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 +30.0/30.0
• 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 MLS

Home Sweet Home ~ You will be delighted by this Re-Freshed, Expanded Ranch with Plenty of Space to Live and Entertain. Feel at home from the moment you enter the Inviting Sunroom. Spacious Living/Dining Room Combo features NEW Wood Laminate Floor, and Large Front Window that lets in loads of Natural Light. . Updated Eat-In Kitchen features NEW Stainless Steel Fridge and Dishwasher, NEW Waterproof Laminate Floor, and NEW Countertop. 3 Extra Large Bedrooms with NEW Carpeting. NEW Roof '18. Newer Furnace. New Central Air to be installed prior to closing. Large Side-Driveway leads to the 2-Car Garage and Fenced Backyard. Move-In Ready.

Key facts

• 7,448 sq ft lot
• 2 garage spots
• Built 1951

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $137k.

Deal economics

• At list price, monthly cash flow is $880 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $137k).
• Recommended offer: $133k (3.0% below list) — sets the bar for market timing.
• Cap rate 14.0% vs local median 9.7% in Park Forest — 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 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; 13 comparable units currently listed for rent nearby; rentals at typical pace (median 16d on market — plan ~3-4 weeks tenant-placement turnaround); 6,272 units permitted in Cook County in 2024 (4,658 in 5+ unit buildings).
• At $2,313/mo this rent would consume 45% of the median local household income ($62k/yr) (locally 900% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $947 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 $38k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 37 days — a 3% lower offer ($133k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 11y 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 $92k; 49% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1951 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $132,890 (3.0% below list)

Questions for the listing agent

1. It's been on market 37 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 1951 — 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 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?
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: 1.69% ✓
• Cap rate: 14.00%
• Cash-on-cash: 27.53%
• DSCR: 2.23
• GRM: 4.9

CMA / ARV

• ARV (on-the-fly): $174,948
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
397 Oswego St	0.12mi	4/2.0 (+1)	1,398 (-2%)	2mo	$199,000	$142	79
287 Mohawk St	0.46mi	3/1.0	1,408 (-2%)	1mo	$175,000	$124	75
6 Monee Ct	0.42mi	3/1.5	1,452 (+1%)	3mo	$120,000	$83	74
140 Nashua St	0.23mi	3/1.0	1,313 (-8%)	1mo	$103,000	$78	74
360 Niagara St	0.06mi	3/1.0	1,231 (-14%)	0mo	$150,000	$122	74
245 Miami St	0.38mi	3/1.0	1,363 (-5%)	2mo	$139,000	$102	72
127 Blackhawk Dr	0.19mi	3/1.5	1,296 (-10%)	3mo	$117,000	$90	71
343 Osage St	0.56mi	3/1.0	1,490 (+4%)	0mo	$185,000	$124	67
210 Marquette St	0.32mi	3/1.0	1,269 (-12%)	0mo	$153,000	$121	66
339 Blackhawk Dr	0.75mi	3/2.0	1,417 (-1%)	1mo	$234,200	$165	58
364 Osage St	0.45mi	4/3.0 (+1)	1,503 (+5%)	1mo	$245,000	$163	58
332 Oswego St	0.42mi	2/1.0 (-1)	1,224 (-15%)	3mo	$105,000	$86	49

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: 21.6%
• Equity multiple: 1.88×
• Total profit: $33,891
• Equity at exit: $20,427

10-year hold

• IRR: 29.7%
• Equity multiple: 3.65×
• Total profit: $101,836
• Equity at exit: $11,845

Cash invested: $38,360 (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: 4.9×

Monthly cashflow live

• Estimated rent: $2,313 high
• Mortgage (P&I): −$718
• Tax est. 1.5%: −$171 /mo · $2,055/yr
• Insurance: −$57
• HOA: −$0
• Vacancy / Maint / Mgmt: −$486
• Net cashflow: $880

Break-even live

Break-even rent $1,198

Max offer price $137,000

Occupancy floor 57%

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: $34,250
• Closing costs: $4,110
• Reserves months: —
• Total cash needed: —

Rent comps 13 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
372 Oswego St Park Forest, IL	4.0	1.0	1200	$2,600	$2.17	24d	1	0.13mi
111 Nashua St Park Forest, IL	4.0	1.5	1500	$2,500	$1.67	24d	1	0.23mi
411 Huron St Park Forest, IL	3.0	1.0	1092	$2,300	$2.11	24d	1	0.28mi
441 Talala St Park Forest, IL	4.0	2.0	1740	$2,500	$1.44	24d	1	0.50mi
277 Somonauk St Park Forest, IL	3.0	1.0	966	$2,000	$2.07	3d	1	0.51mi
194 Monee Rd Park Forest, IL	3.0	1.0	1092	$1,971	$1.80	21d	1	0.55mi
490 Shabbona Dr Park Forest, IL	3.0	1.0	1300	$1,895	$1.46	2d	1	0.62mi
19 Apple Ln Park Forest, IL	3.0	1.0	1541	$2,300	$1.49	12d	1	0.65mi
235 Tampa St Park Forest, IL	3.0	1.0	1092	$2,000	$1.83	24d	1	0.72mi
23439 Western Ave Unit C29 Park Forest, IL	2.0	2.0	975	$1,570	$1.61	1d	1	0.95mi
3324 Western Ave Park Forest, IL	1.0–3.0	1.0	1026	$1,995	$1.94	1d	11	0.99mi
400 Watseka St Park Forest, IL	4.0	2.0	1161	$2,161	$1.86	15d	1	1.24mi
3905 Tower Dr Richton Park, IL	1.0–2.0	1.0–2.0	905	$1,795	$1.98	1d	19	1.48mi

Listing history 33 events

1. 2026-06-09
   days on market $137,000 Active 37 DOM
2. 2026-06-08
   days on market $137,000 Active 36 DOM
3. 2026-06-07
   days on market $137,000 Active 35 DOM
4. 2026-06-04
   days on market $137,000 Active 32 DOM
5. 2026-06-03
   days on market $137,000 Active 31 DOM
6. 2026-06-02
   days on market $137,000 Active 30 DOM
7. 2026-06-01
   days on market $137,000 Active 29 DOM
8. 2026-05-31
   days on market $137,000 Active 28 DOM
9. 2026-05-03
   listed $137,000 Active
10. 2020-11-09
    soldstatus $92,000 Closed Sale 640-char remark

    Show marketing remark (640 chars)

    Home Sweet Home ~ You will be delighted by this Re-Freshed, Expanded Ranch with Plenty of Space to Live and Entertain. Feel at home from the moment you enter the Inviting Sunroom. Spacious Living/Dining Room Combo features NEW Wood Laminate Floor, and Large Front Window that lets in loads of Natural Light. . Updated Eat-In Kitchen features NEW Stainless Steel Fridge and Dishwasher, NEW Waterproof Laminate Floor, and NEW Countertop. 3 Extra Large Bedrooms with NEW Carpeting. NEW Roof '18. Newer Furnace. New Central Air to be installed prior to closing. Large Side-Driveway leads to the 2-Car Garage and Fenced Backyard. Move-In Ready.

11. 2020-09-30
    status Contingent 640-char remark

    Show marketing remark (640 chars)

    Home Sweet Home ~ You will be delighted by this Re-Freshed, Expanded Ranch with Plenty of Space to Live and Entertain. Feel at home from the moment you enter the Inviting Sunroom. Spacious Living/Dining Room Combo features NEW Wood Laminate Floor, and Large Front Window that lets in loads of Natural Light. . Updated Eat-In Kitchen features NEW Stainless Steel Fridge and Dishwasher, NEW Waterproof Laminate Floor, and NEW Countertop. 3 Extra Large Bedrooms with NEW Carpeting. NEW Roof '18. Newer Furnace. New Central Air to be installed prior to closing. Large Side-Driveway leads to the 2-Car Garage and Fenced Backyard. Move-In Ready.

12. 2020-09-30
    listed $89,900 Back On Market 640-char remark

    Show marketing remark (640 chars)

    Home Sweet Home ~ You will be delighted by this Re-Freshed, Expanded Ranch with Plenty of Space to Live and Entertain. Feel at home from the moment you enter the Inviting Sunroom. Spacious Living/Dining Room Combo features NEW Wood Laminate Floor, and Large Front Window that lets in loads of Natural Light. . Updated Eat-In Kitchen features NEW Stainless Steel Fridge and Dishwasher, NEW Waterproof Laminate Floor, and NEW Countertop. 3 Extra Large Bedrooms with NEW Carpeting. NEW Roof '18. Newer Furnace. New Central Air to be installed prior to closing. Large Side-Driveway leads to the 2-Car Garage and Fenced Backyard. Move-In Ready.

13. 2020-09-29
    soldstatus $92,000 Closed Sale 640-char remark

    Show marketing remark (640 chars)

    Home Sweet Home ~ You will be delighted by this Re-Freshed, Expanded Ranch with Plenty of Space to Live and Entertain. Feel at home from the moment you enter the Inviting Sunroom. Spacious Living/Dining Room Combo features NEW Wood Laminate Floor, and Large Front Window that lets in loads of Natural Light. . Updated Eat-In Kitchen features NEW Stainless Steel Fridge and Dishwasher, NEW Waterproof Laminate Floor, and NEW Countertop. 3 Extra Large Bedrooms with NEW Carpeting. NEW Roof '18. Newer Furnace. New Central Air to be installed prior to closing. Large Side-Driveway leads to the 2-Car Garage and Fenced Backyard. Move-In Ready.

14. 2020-09-19
    status Contingent 640-char remark

    Show marketing remark (640 chars)

    Home Sweet Home ~ You will be delighted by this Re-Freshed, Expanded Ranch with Plenty of Space to Live and Entertain. Feel at home from the moment you enter the Inviting Sunroom. Spacious Living/Dining Room Combo features NEW Wood Laminate Floor, and Large Front Window that lets in loads of Natural Light. . Updated Eat-In Kitchen features NEW Stainless Steel Fridge and Dishwasher, NEW Waterproof Laminate Floor, and NEW Countertop. 3 Extra Large Bedrooms with NEW Carpeting. NEW Roof '18. Newer Furnace. New Central Air to be installed prior to closing. Large Side-Driveway leads to the 2-Car Garage and Fenced Backyard. Move-In Ready.

15. 2020-09-14
    listed $89,900 New 640-char remark

    Show marketing remark (640 chars)

    Home Sweet Home ~ You will be delighted by this Re-Freshed, Expanded Ranch with Plenty of Space to Live and Entertain. Feel at home from the moment you enter the Inviting Sunroom. Spacious Living/Dining Room Combo features NEW Wood Laminate Floor, and Large Front Window that lets in loads of Natural Light. . Updated Eat-In Kitchen features NEW Stainless Steel Fridge and Dishwasher, NEW Waterproof Laminate Floor, and NEW Countertop. 3 Extra Large Bedrooms with NEW Carpeting. NEW Roof '18. Newer Furnace. New Central Air to be installed prior to closing. Large Side-Driveway leads to the 2-Car Garage and Fenced Backyard. Move-In Ready.

16. 2017-09-20
    historical Contingent
17. 2017-09-20
    historical
18. 2017-09-18
    listed New
19. 2017-03-06
    status Pending
20. 2017-03-06
    historical
21. 2017-01-26
    price
22. 2016-10-12
    price
23. 2016-08-26
    price
24. 2016-08-26
    status Reactivated
25. 2016-04-06
    status Pending
26. 2016-03-26
    historical
27. 2016-03-26
    price
28. 2016-02-17
    price
29. 2016-02-02
    status Reactivated
30. 2015-12-01
    historical
31. 2015-11-28
    listed New
32. 2002-04-12
    soldstatus $99,000
33. 2000-01-28
    soldstatus $78,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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: $27,751
• − Mortgage interest: −$7,674
• − Property taxes: −$2,055
• − Insurance: −$685
• − Repairs & maintenance: −$2,220
• − Management: −$2,220
• − Depreciation: −$3,985
• Taxable income: $8,911
• Est. tax owed @ 24.0%: −$2,139
• After-tax cash flow: $8,423/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

+75.6% since first listed

25 events — show timeline

• 2026-05-03 Listed $137,000 MRED as Distributed by MLS Grid
• 2020-11-09 Sold (MLS) $92,000 MRED as Distributed by MLS Grid
• 2020-09-30 Pending — MRED as Distributed by MLS Grid
• 2020-09-30 Listed $89,900 MRED as Distributed by MLS Grid
• 2020-09-29 Sold (MLS) $92,000 MRED as Distributed by MLS Grid
• 2020-09-19 Pending — MRED as Distributed by MLS Grid
• 2020-09-14 Listed $89,900 MRED as Distributed by MLS Grid
• 2017-09-20 Contingent — MRED as Distributed by MLS Grid
• 2017-09-20 Listing Removed — MRED as Distributed by MLS Grid
• 2017-09-18 Listed — MRED as Distributed by MLS Grid
• 2017-03-06 Pending — MRED as Distributed by MLS Grid
• 2017-03-06 Listing Removed — MRED as Distributed by MLS Grid
• 2017-01-26 Price Changed — MRED as Distributed by MLS Grid
• 2016-10-12 Price Changed — MRED as Distributed by MLS Grid
• 2016-08-26 Price Changed — MRED as Distributed by MLS Grid
• 2016-08-26 Relisted — MRED as Distributed by MLS Grid
• 2016-04-06 Pending — MRED as Distributed by MLS Grid
• 2016-03-26 Listing Removed — MRED as Distributed by MLS Grid
• 2016-03-26 Price Changed — MRED as Distributed by MLS Grid
• 2016-02-17 Price Changed — MRED as Distributed by MLS Grid
• 2016-02-02 Relisted — MRED as Distributed by MLS Grid
• 2015-12-01 Listing Removed — MRED as Distributed by MLS Grid
• 2015-11-28 Listed — MRED as Distributed by MLS Grid
• 2002-04-12 Sold (Public Records) $99,000 Public Records
• 2000-01-28 Sold (Public Records) $78,000 Public Records

Property tax history

+5.1%/yr

Latest (2023): $7,821 · +136.6% YoY. Source: county tax records.