8 Rich Ct · Park Forest, IL 60466

$89,900

3 bd · 2.0 ba · 1,512 sqft · SingleFamily public records · 37 Days on market

Built 1978 6,000 sqft lot

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• 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

Investors and Rehabbers this appealing 3bd/2bth split-level single-family located in beautiful Park Forest. This home offers a blend of classic charm and comfortable living w/ convenient attached garage. SOLD "AS IS". .. this property is an REO and will not last!!! Offer should be your highest and best.

Key facts

• 6,000 sq ft lot
• 2 garage spots
• Built 1978

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $90k.

Deal economics

• At list price, monthly cash flow is $1k ($14k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $90k).
• Recommended offer: $87k (3.0% below list) — sets the bar for market timing.
• Cap rate 21.5% vs local median 9.5% 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: 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.
• Zoned schools: Michelle Obama Sch of Technology (484 students, 0% FRL).
• Market conditions: 106 active listings in the ZIP; 18 comparable units currently listed for rent nearby; rentals at typical pace (median 22d 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 $622 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $25k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 37 days — a 3% lower offer ($87k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts; this cycle's ask has dropped $10k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $87,203 (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 1978 — 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: 2.48% ✓
• Cap rate: 21.51%
• Cash-on-cash: 54.35%
• DSCR: 3.42
• GRM: 3.4

CMA / ARV

• ARV (on-the-fly): $187,488
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
340 Sauk Trl	0.14mi	3/2.0	1,576 (+4%)	1mo	$180,000	$114	86
4 Lakewood Ct	0.07mi	4/2.0 (+1)	1,556 (+3%)	2mo	$205,000	$132	85
289 Westwood Dr	0.07mi	3/1.5	1,664 (+10%)	1mo	$95,102	$57	77
356 Waverly St	0.26mi	3/2.0	1,419 (-6%)	2mo	$120,000	$85	76
109 Wilson St	0.47mi	3/2.0	1,525 (+1%)	1mo	$233,500	$153	76
354 Westgate Dr	0.36mi	3/1.5	1,470 (-3%)	2mo	$75,000	$51	75
351 Waverly St	0.21mi	3/2.0	1,671 (+10%)	0mo	$149,000	$89	72
339 Blackhawk Dr	0.40mi	3/2.0	1,417 (-6%)	1mo	$234,200	$165	70
287 Mohawk St	0.35mi	3/1.0	1,408 (-7%)	1mo	$175,000	$124	67
245 Miami St	0.54mi	3/1.0	1,363 (-10%)	2mo	$139,000	$102	52
397 Oswego St	0.69mi	4/2.0 (+1)	1,398 (-8%)	2mo	$199,000	$142	48
409 Winnemac St	0.55mi	4/2.0 (+1)	1,736 (+15%)	3mo	$229,900	$132	42

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: 52.5%
• Equity multiple: 3.31×
• Total profit: $58,076
• Equity at exit: $13,404

10-year hold

• IRR: 57.8%
• Equity multiple: 6.73×
• Total profit: $144,206
• Equity at exit: $7,773

Cash invested: $25,172 (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: 3.4×

Monthly cashflow live

• Estimated rent: $2,230 high
• Mortgage (P&I): −$471
• Tax est. 1.5%: −$112 /mo · $1,348/yr
• Insurance: −$37
• HOA: −$0
• Vacancy / Maint / Mgmt: −$468
• Net cashflow: $1,140

Break-even live

Break-even rent $786

Max offer price $89,900

Occupancy floor 44%

Sensitivity live

Price	-10% $1,202	-5% $1,171	+0% $1,140	+5% $1,109	+10% $1,078
Rent	-10% $964	-5% $1,052	+0% $1,140	+5% $1,228	+10% $1,316
Rate	-1.0pp $1,185	-0.5pp $1,163	base $1,140	+0.5pp $1,117	+1.0pp $1,093

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: $22,475
• Closing costs: $2,697
• Reserves months: —
• Total cash needed: —

Rent comps 18 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	18d	1	0.51mi
372 Oswego St Park Forest, IL	4.0	1.0	1200	$2,600	$2.17	26d	1	0.74mi
411 Huron St Park Forest, IL	3.0	1.0	1092	$2,200	$2.01	1d	1	0.76mi
4014 Euclid Ln Richton Park, IL	2.0	1.0	1100	$2,100	$1.91	24d	1	0.91mi
4014 Euclid Ln Richton Park, IL	3.0	1.0	1100	$2,100	$1.91	14d	1	0.91mi
4014 Euclid Ln Richton Park, IL	2.0	1.0	1100	$2,100	$1.91	9d	1	0.91mi
11 Fir St Park Forest, IL	1.0–3.0	1.0	1026	$2,069	$2.02	0d	1	0.93mi
111 Nashua St Park Forest, IL	4.0	1.5	1500	$2,500	$1.67	26d	1	0.97mi
3324 Western Ave Park Forest, IL	1.0–3.0	1.0	1026	$1,995	$1.94	0d	11	1.02mi
19 Apple Ln Park Forest, IL	3.0	1.0	1541	$2,300	$1.49	14d	1	1.04mi
336 Oakwood St Park Forest, IL	3.0	2.0	2083	$2,800	$1.34	12d	1	1.04mi
490 Shabbona Dr Park Forest, IL	3.0	1.0	1300	$1,895	$1.46	5d	1	1.08mi
441 Talala St Park Forest, IL	4.0	2.0	1740	$2,500	$1.44	26d	1	1.09mi
194 Monee Rd Park Forest, IL	3.0	1.0	1092	$1,971	$1.80	24d	1	1.21mi
4200 Arlington Dr Richton Park, IL	3.0	2.0	1595	$2,061	$1.29	22d	1	1.26mi
235 Tampa St Park Forest, IL	3.0	1.0	1092	$2,000	$1.83	26d	1	1.26mi
3838 216th Pl Matteson, IL	2.0	2.0	1160	$1,996	$1.72	22d	1	1.26mi
3538 212th Pl Matteson, IL	3.0	1.0	1209	$2,000	$1.65	26d	1	1.49mi

Listing history 27 events

1. 2026-06-21
   days on market $89,900 Active 37 DOM
2. 2026-06-18
   days on market $89,900 Active 34 DOM
3. 2026-06-18
   price $89,900 Active 33 DOM
4. 2026-06-17
   days on market $99,900 Active 33 DOM
5. 2026-06-16
   days on market $99,900 Active 32 DOM
6. 2026-06-15
   days on market $99,900 Active 31 DOM
7. 2026-06-13
   days on market $99,900 Active 29 DOM
8. 2026-06-09
   days on market $99,900 Active 25 DOM
9. 2026-06-08
   days on market $99,900 Active 24 DOM
10. 2026-06-07
    days on market $99,900 Active 23 DOM
11. 2026-06-04
    days on market $99,900 Active 20 DOM
12. 2026-06-03
    days on market $99,900 Active 19 DOM
13. 2026-06-02
    days on market $99,900 Active 18 DOM
14. 2026-06-01
    days on market $99,900 Active 17 DOM
15. 2026-05-31
    days on market $99,900 Active 16 DOM
16. 2026-05-15
    listed $99,900 Active
17. 2026-02-27
    historical
18. 2026-02-13
    status Active
19. 2026-02-13
    price
20. 2025-11-09
    historical Contingent - Continue to Show
21. 2025-10-19
    price
22. 2025-10-03
    listed Active
23. 2001-12-11
    soldstatus $135,000
24. 1995-10-11
    soldstatus $112,500
25. 1985-10-03
    soldstatus $80,000
26. 1985-09-01
    soldstatus $79,900
27. 1979-01-04
    soldstatus $56,000

ⓘ 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: $26,754
• − Mortgage interest: −$5,036
• − Property taxes: −$1,348
• − Insurance: −$450
• − Repairs & maintenance: −$2,140
• − Management: −$2,140
• − Depreciation: −$2,615
• Taxable income: $13,025
• Est. tax owed @ 24.0%: −$3,126
• After-tax cash flow: $10,555/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

+78.4% since first listed

12 events — show timeline

• 2026-05-15 Listed $99,900 MRED as Distributed by MLS Grid
• 2026-02-27 Listing Removed — MRED as Distributed by MLS Grid
• 2026-02-13 Relisted — MRED as Distributed by MLS Grid
• 2026-02-13 Price Changed — MRED as Distributed by MLS Grid
• 2025-11-09 Contingent — MRED as Distributed by MLS Grid
• 2025-10-19 Price Changed — MRED as Distributed by MLS Grid
• 2025-10-03 Listed — MRED as Distributed by MLS Grid
• 2001-12-11 Sold (Public Records) $135,000 Public Records
• 1995-10-11 Sold (Public Records) $112,500 Public Records
• 1985-10-03 Sold (Public Records) $80,000 Public Records
• 1985-09-01 Sold (Public Records) $79,900 Public Records
• 1979-01-04 Sold (Public Records) $56,000 Public Records

Property tax history

+7.1%/yr

Latest (2023): $12,444 · -5.6% YoY. Source: county tax records.