463 Shabbona Dr · Park Forest, IL 60466

$175,000

3 bd · 1.0 ba · 1,524 sqft · SingleFamily public records · 4 Days on market

Built 1955 5,680 sqft lot Est $189k · 7% 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 +27.9/30.0
• ARV discount +10.8/15.0
• DSCR +9.9/10.0
• 1% rule +7.6/10.0
• 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

Complete total rehab 4 bedrooms, 1.5 bathroom, and approximately 1,524 sqft of living space. The property was built in 1954.New walls and paint, laminate floor through out the house, new water heater and laundry, new ceramic bathroom , new kitchen cabinets with marble counter top and SS appliances.New windows and patio door. Passed all inspections! Must see!

Key facts

• Newer appliances
• Concrete patio
• Newer windows

Tags

• OPEN CONCEPT LAYOUT
• NEWER WINDOWS
• UPDATED FLOORING
• NEWER APPLIANCES
• FULLY FENCED BACKYARD
• CONCRETE PATIO

Property features AI

Finance

• Other: Lot dimensions approximately 60 x 120 (less than 0.25 acre); Living area source: assessor; Parcel number available
• HOA & community: No master association fee required

Exterior

• Parking: 2 parking spaces; Concrete driveway; Owned parking
• Utilities: Water from Lake Michigan and public supply; Public sewer; Electric with circuit breakers
• Home design: Detached single-family home; One-story layout; Fee simple ownership; School bus service available
• Construction: Brick construction; Rubber roof; Built approximately 71–80 years ago; Property built before 1978
• Exterior features: Patio; Fenced yard

Interior

• Kitchen: Range; Microwave; Dishwasher; Refrigerator
• Bedrooms: 4 bedrooms (all on the main level); Master bedroom on the main level (13 x 14); Bedroom 2 on the main level (13 x 12); Bedroom 3 on the main level (11 x 10); Bedroom 4 on the main level (11 x 10)
• Flooring: Wood laminate flooring throughout main living areas and bedrooms
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Natural gas heating; Central air conditioning
• Interior features: First-floor bedroom; First-floor full bathroom; Seven total rooms
• Laundry & utility: Laundry on main level; Gas dryer hookup

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $175k.

Deal economics

• At list price, monthly cash flow is $538 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $175k).

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: 106 active listings in the ZIP; 14 comparable units currently listed for rent nearby; rentals at typical pace (median 21d 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 43% 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $49k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 10y 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 $98k; list at $175k implies a 79% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1955 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $175,000

Questions for the listing agent

1. Built in 1955 — 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: 1.26% ✓
• Cap rate: 9.98%
• Cash-on-cash: 13.17%
• DSCR: 1.59
• GRM: 6.6

CMA / ARV

• ARV (on-the-fly): $188,976
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
256 Sangamon St	0.28mi	4/2.0 (+1)	1,567 (+3%)	6mo	$142,000	$91	68
165 Nashua St	0.26mi	4/2.0 (+1)	1,443 (-5%)	3mo	$199,900	$139	68
204 Nashua St	0.20mi	4/2.0 (+1)	1,625 (+7%)	6mo	$90,000	$55	66
245 Miami St	0.36mi	3/1.0	1,363 (-11%)	2mo	$139,000	$102	63
140 Nashua St	0.31mi	3/1.0	1,313 (-14%)	1mo	$103,000	$78	61
287 Mohawk St	0.55mi	3/1.0	1,408 (-8%)	1mo	$175,000	$124	61
230 Mantua St	0.44mi	3/1.5	1,387 (-9%)	7mo	$230,000	$166	57
339 Blackhawk Dr	0.64mi	3/2.0	1,417 (-7%)	1mo	$234,200	$165	53
397 Oswego St	0.60mi	4/2.0 (+1)	1,398 (-8%)	2mo	$199,000	$142	47
329 Indianwood Blvd	0.64mi	2/2.0 (-1)	1,598 (+5%)	8mo	$140,000	$88	47
22646 Lawndale Ave	0.60mi	3/2.0	1,705 (+12%)	3mo	$316,600	$186	46
127 Blackhawk Dr	0.60mi	3/1.5	1,296 (-15%)	3mo	$117,000	$90	43

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: 3.1%
• Equity multiple: 1.12×
• Total profit: $5,938
• Equity at exit: $26,093

10-year hold

• IRR: 12.7%
• Equity multiple: 2.01×
• Total profit: $49,424
• Equity at exit: $15,131

Cash invested: $49,000 (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: 106
• Price-to-rent: 6.6×

Monthly cashflow live

• Estimated rent: $2,212 high
• Mortgage (P&I): −$918
• Tax est. 1.5%: −$219 /mo · $2,625/yr
• Insurance: −$73
• HOA: −$0
• Vacancy / Maint / Mgmt: −$464
• Net cashflow: $538

Break-even live

Break-even rent $1,531

Max offer price $175,000

Occupancy floor 71%

Sensitivity live

Price	-10% $659	-5% $598	+0% $538	+5% $477	+10% $417
Rent	-10% $363	-5% $451	+0% $538	+5% $625	+10% $713
Rate	-1.0pp $626	-0.5pp $582	base $538	+0.5pp $493	+1.0pp $446

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: $43,750
• Closing costs: $5,250
• Reserves months: —
• Total cash needed: —

Rent comps 14 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
490 Shabbona Dr Park Forest, IL	3.0	1.0	1300	$1,895	$1.46	4d	1	0.16mi
411 Huron St Park Forest, IL	3.0	1.0	1092	$2,200	$2.01	0d	1	0.28mi
441 Talala St Park Forest, IL	4.0	2.0	1740	$2,500	$1.44	25d	1	0.29mi
235 Tampa St Park Forest, IL	3.0	1.0	1092	$2,000	$1.83	25d	1	0.36mi
194 Monee Rd Park Forest, IL	3.0	1.0	1092	$1,971	$1.80	23d	1	0.45mi
111 Nashua St Park Forest, IL	4.0	1.5	1500	$2,500	$1.67	25d	1	0.63mi
372 Oswego St Park Forest, IL	4.0	1.0	1200	$2,600	$2.17	25d	1	0.69mi
336 Oakwood St Park Forest, IL	3.0	2.0	2083	$2,800	$1.34	11d	1	0.97mi
19 Apple Ln Park Forest, IL	3.0	1.0	1541	$2,300	$1.49	13d	1	1.21mi
400 Watseka St Park Forest, IL	4.0	2.0	1161	$2,161	$1.86	17d	1	1.32mi
4200 Arlington Dr Richton Park, IL	3.0	2.0	1595	$2,061	$1.29	21d	1	1.46mi
4014 Euclid Ln Richton Park, IL	3.0	1.0	1100	$2,100	$1.91	14d	1	1.47mi
4014 Euclid Ln Richton Park, IL	2.0	1.0	1100	$2,100	$1.91	23d	1	1.47mi
4014 Euclid Ln Richton Park, IL	2.0	1.0	1100	$2,100	$1.91	8d	1	1.47mi

Listing history 3 events

1. 2026-06-21
   days on market $175,000 Active 4 DOM
2. 2026-06-17
   remarks 682-char remark
3. 2026-06-17
   listed $175,000 Active 1 DOM

ⓘ 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: $26,542
• − Mortgage interest: −$9,803
• − Property taxes: −$2,625
• − Insurance: −$875
• − Repairs & maintenance: −$2,123
• − Management: −$2,123
• − Depreciation: −$5,091
• Taxable income: $3,901
• Est. tax owed @ 24.0%: −$936
• After-tax cash flow: $5,519/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

+442.6% since first listed

14 events — show timeline

• 2026-06-17 Listed $175,000 MRED as Distributed by MLS Grid
• 2022-05-18 Sold (Public Records) $97,500 Public Records
• 2016-12-21 Sold (Public Records) $78,000 Public Records
• 2016-11-18 Sold (MLS) $76,000 MRED as Distributed by MLS Grid
• 2016-10-31 Price Changed $84,900 MRED as Distributed by MLS Grid
• 2016-10-30 Relisted — MRED as Distributed by MLS Grid
• 2016-07-15 Contingent — MRED as Distributed by MLS Grid
• 2016-07-08 Price Changed $79,900 MRED as Distributed by MLS Grid
• 2016-06-23 Relisted — MRED as Distributed by MLS Grid
• 2016-06-22 Listing Removed — MRED as Distributed by MLS Grid
• 2016-06-11 Listed $84,900 MRED as Distributed by MLS Grid
• 2002-10-15 Sold (Public Records) $77,000 Public Records
• 1993-11-03 Sold (Public Records) $72,900 Public Records
• 1989-07-18 Sold (Public Records) $32,250 Public Records

Property tax history

+6.7%/yr

Latest (2023): $9,516 · +203.5% YoY. Source: county tax records.