261 Minocqua St · Park Forest, IL 60466

$146,000

3 bd · 1.0 ba · 1,372 sqft · SingleFamily public records · 155 Days on market

Built 1951 7,500 sqft lot Est $170k · 14% 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 +13.9/15.0
• DSCR +10.0/10.0
• 1% rule +9.8/10.0
• 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

A True Park Forest Delight. .. 261 Minocqua has been fully renovated into an Open Concept with Fresh Paint Inside and Out. Generous Bedroom Sizes, Eat-In Kitchen, Laundry Closet, an Updated 2 car Garage, Driveway and Plenty of Yard space! The Rear Room addition has so much Character, offering a Double Door Entry, New Flooring, Full Closet and access to the Screened-in Patio, which also has Brand New Flooring. .. .This 3rd Room can be used as an Office, Family room or Indeed "Thee Primary Suite. " Stainless Steel Appliances stay! Roof has been Rejuvenated and Home is in Good Condition. Bring your Vision to Decorate your New Home. Sold As-Is. PRICED TO SELL!

Key facts

• Updated 2 car garage
• Open concept
• Screened-in patio

Tags

• OPEN CONCEPT
• EAT-IN KITCHEN
• LAUNDRY CLOSET
• UPDATED 2 CAR GARAGE
• SCREENED-IN PATIO
• DOUBLE DOOR ENTRY

Property features AI

Finance

• Other: Possession available at closing or immediate; Some photos are virtually staged
• HOA & community: No master association fee required

Exterior

• Parking: Detached garage (owned) with concrete driveway; 2 garage spaces, 2 total parking spaces
• Utilities: Water source: Lake Michigan; Public sewer
• Home design: Detached single-family home; One-story; Fee simple ownership
• Construction: Built approximately 71–80 years ago; Vinyl siding; Asphalt roof; Built before 1978
• Exterior features: Lot dimensions approximately 60 x 125; Less than 0.25 acre lot; School bus service

Interior

• Kitchen: Kitchen on main level (approx. 10 x 18)
• Bedrooms: Master bedroom on main level (approx. 12 x 15); Bedroom 2 on main level (approx. 12 x 13); Bedroom 3 on main level (approx. 11 x 22)
• Flooring: Vinyl flooring in kitchen and master bedroom; Carpet in living room and Bedroom 2
• Bathrooms: One full bathroom
• Heating & cooling: Natural gas forced-air heating; Central air conditioning
• Interior features: First-floor bedroom; First-floor full bathroom; Screened porch (main level, approx. 8 x 20); Six total rooms
• Laundry & utility: Laundry closet

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $146k.

Deal economics

• At list price, monthly cash flow is $698 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $146k).
• Recommended offer: $128k (12.0% below list) — sets the bar for market timing.
• Cap rate 12.0% vs local median 9.7% in Park Forest — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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; 21 comparable units currently listed for rent nearby; rentals leasing fast (median 12d 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 42% 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 ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 155 days — a 12% lower offer ($128k) is reasonable based on typical stale-listing flexibility.
• 9 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 $15k; list at $146k implies a 873% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1951 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $128,480 (12.0% below list)

Questions for the listing agent

1. It's been on market 155 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 1951 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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: 1.48% ✓
• Cap rate: 12.03%
• Cash-on-cash: 20.49%
• DSCR: 1.91
• GRM: 5.6

CMA / ARV

• ARV (on-the-fly): $170,128
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
245 Miami St	0.17mi	3/1.0	1,363 (-1%)	2mo	$139,000	$102	89
287 Mohawk St	0.16mi	3/1.0	1,408 (+3%)	1mo	$175,000	$124	87
210 Marquette St	0.23mi	3/1.0	1,269 (-8%)	0mo	$153,000	$121	76
140 Nashua St	0.40mi	3/1.0	1,313 (-4%)	1mo	$103,000	$78	73
397 Oswego St	0.29mi	4/2.0 (+1)	1,398 (+2%)	2mo	$199,000	$142	72
339 Blackhawk Dr	0.46mi	3/2.0	1,417 (+3%)	1mo	$234,200	$165	68
360 Niagara St	0.34mi	3/1.0	1,231 (-10%)	0mo	$150,000	$122	67
356 Waverly St	0.67mi	3/2.0	1,419 (+3%)	2mo	$120,000	$85	58
251 Westwood Dr	0.56mi	3/2.0	1,248 (-9%)	2mo	$217,000	$174	53
433 Lakewood Blvd	0.61mi	3/1.5	1,248 (-9%)	2mo	$165,000	$132	53
340 Sauk Trl	0.50mi	3/2.0	1,576 (+15%)	0mo	$180,000	$114	48
364 Osage St	0.72mi	4/3.0 (+1)	1,503 (+10%)	1mo	$245,000	$163	37

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: 12.8%
• Equity multiple: 1.51×
• Total profit: $20,841
• Equity at exit: $21,769

10-year hold

• IRR: 21.7%
• Equity multiple: 2.85×
• Total profit: $75,539
• Equity at exit: $12,623

Cash invested: $40,880 (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: 5.6×

Monthly cashflow live

• Estimated rent: $2,161 high
• Mortgage (P&I): −$766
• Tax est. 1.5%: −$182 /mo · $2,190/yr
• Insurance: −$61
• HOA: −$0
• Vacancy / Maint / Mgmt: −$454
• Net cashflow: $698

Break-even live

Break-even rent $1,277

Max offer price $146,000

Occupancy floor 63%

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: $36,500
• Closing costs: $4,380
• Reserves months: —
• Total cash needed: —

Rent comps 21 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
411 Huron St Park Forest, IL	3.0	1.0	1092	$2,300	$2.11	24d	1	0.29mi
372 Oswego St Park Forest, IL	4.0	1.0	1200	$2,600	$2.17	24d	1	0.36mi
277 Somonauk St Park Forest, IL	3.0	1.0	966	$2,000	$2.07	3d	1	0.45mi
111 Nashua St Park Forest, IL	4.0	1.5	1500	$2,500	$1.67	24d	1	0.52mi
441 Talala St Park Forest, IL	4.0	2.0	1740	$2,500	$1.44	24d	1	0.61mi
490 Shabbona Dr Park Forest, IL	3.0	1.0	1300	$1,895	$1.46	3d	1	0.64mi
194 Monee Rd Park Forest, IL	3.0	1.0	1092	$1,971	$1.80	22d	1	0.72mi
235 Tampa St Park Forest, IL	3.0	1.0	1092	$2,000	$1.83	24d	1	0.80mi
19 Apple Ln Park Forest, IL	3.0	1.0	1541	$2,300	$1.49	12d	1	0.84mi
400 Watseka St Park Forest, IL	4.0	2.0	1161	$2,161	$1.86	16d	1	0.97mi
3324 Western Ave Park Forest, IL	1.0–3.0	1.0	1026	$1,995	$1.94	1d	11	1.06mi
3905 Tower Dr Richton Park, IL	1.0–2.0	1.0–2.0	905	$1,795	$1.98	1d	19	1.18mi
23439 Western Ave Unit C29 Park Forest, IL	2.0	2.0	975	$1,570	$1.61	1d	1	1.22mi
4014 Euclid Ln Richton Park, IL	3.0	1.0	1100	$2,100	$1.91	12d	1	1.27mi
4014 Euclid Ln Richton Park, IL	2.0	1.0	1100	$2,100	$1.91	7d	1	1.27mi
4014 Euclid Ln Richton Park, IL	2.0	1.0	1100	$2,100	$1.91	22d	1	1.27mi
22501 Butterfield Rd Unit 22415-207 Richton Park, IL	2.0	1.5	944	$1,360	$1.44	7d	1	1.37mi
22501 Butterfield Rd Unit 22411-506 Richton Park, IL	2.0	1.0	882	$1,325	$1.50	7d	1	1.37mi
22501 Butterfield Rd Unit 22400-311 Richton Park, IL	2.0	1.0	882	$1,360	$1.54	7d	1	1.37mi
22501 Butterfield Rd Unit 22411-514 Richton Park, IL	2.0	1.5	1021	$1,365	$1.34	7d	1	1.37mi
4200 Arlington Dr Richton Park, IL	3.0	2.0	1595	$2,061	$1.29	20d	1	1.46mi

Listing history 43 events

1. 2026-06-18
   days on market $146,000 Active 155 DOM
2. 2026-06-17
   days on market $146,000 Active 154 DOM
3. 2026-06-16
   days on market $146,000 Active 153 DOM
4. 2026-06-15
   days on market $146,000 Active 152 DOM
5. 2026-06-13
   days on market $146,000 Active 150 DOM
6. 2026-06-09
   days on market $146,000 Active 146 DOM
7. 2026-06-08
   days on market $146,000 Active 145 DOM
8. 2026-06-07
   days on market $146,000 Active 144 DOM
9. 2026-06-04
   days on market $146,000 Active 141 DOM
10. 2026-06-03
    days on market $146,000 Active 140 DOM
11. 2026-06-02
    days on market $146,000 Active 139 DOM
12. 2026-06-01
    days on market $146,000 Active 138 DOM
13. 2026-05-31
    days on market $146,000 Active 137 DOM
14. 2026-05-22
    price $146,000
15. 2026-04-19
    status Temporarily No Showings
16. 2026-04-14
    historical Contingent - Continue to Show
17. 2026-03-23
    price $144,000
18. 2026-03-02
    price $148,000
19. 2026-01-14
    listed $150,000 Active
20. 2025-09-18
    historical
21. 2025-08-14
    price
22. 2025-08-06
    listed Active
23. 2020-03-03
    historical
24. 2020-02-25
    price
25. 2020-02-05
    listed New
26. 2018-11-15
    historical
27. 2018-10-04
    status Reactivated
28. 2018-09-30
    historical
29. 2018-09-29
    price
30. 2018-09-28
    status Reactivated
31. 2018-09-16
    historical Contingent
32. 2018-08-27
    listed New
33. 2018-08-15
    historical
34. 2018-07-25
    price
35. 2018-07-13
    price
36. 2018-06-27
    price
37. 2018-06-14
    listed New
38. 2015-08-28
    soldstatus $15,000 Closed Sale
39. 2015-07-23
    status Pending
40. 2015-07-15
    price $15,000
41. 2015-04-09
    listed $25,000 New
42. 1994-12-05
    soldstatus $71,000
43. 1994-12-05
    soldstatus $71,000

ⓘ 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 6/10 Major FEMA zone X (unshaded) · 75% 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: $25,931
• − Mortgage interest: −$8,178
• − Property taxes: −$2,190
• − Insurance: −$730
• − Repairs & maintenance: −$2,075
• − Management: −$2,075
• − Depreciation: −$4,247
• Taxable income: $6,437
• Est. tax owed @ 24.0%: −$1,545
• After-tax cash flow: $6,833/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

+105.6% since first listed

30 events — show timeline

• 2026-05-22 Price Changed $146,000 MRED as Distributed by MLS Grid
• 2026-04-19 Relisted — MRED as Distributed by MLS Grid
• 2026-04-14 Contingent — MRED as Distributed by MLS Grid
• 2026-03-23 Price Changed $144,000 MRED as Distributed by MLS Grid
• 2026-03-02 Price Changed $148,000 MRED as Distributed by MLS Grid
• 2026-01-14 Listed $150,000 MRED as Distributed by MLS Grid
• 2025-09-18 Listing Removed — MRED as Distributed by MLS Grid
• 2025-08-14 Price Changed — MRED as Distributed by MLS Grid
• 2025-08-06 Listed — MRED as Distributed by MLS Grid
• 2020-03-03 Listing Removed — MRED as Distributed by MLS Grid
• 2020-02-25 Price Changed — MRED as Distributed by MLS Grid
• 2020-02-05 Listed — MRED as Distributed by MLS Grid
• 2018-11-15 Listing Removed — MRED as Distributed by MLS Grid
• 2018-10-04 Relisted — MRED as Distributed by MLS Grid
• 2018-09-30 Listing Removed — MRED as Distributed by MLS Grid
• 2018-09-29 Price Changed — MRED as Distributed by MLS Grid
• 2018-09-28 Relisted — MRED as Distributed by MLS Grid
• 2018-09-16 Contingent — MRED as Distributed by MLS Grid
• 2018-08-27 Listed — MRED as Distributed by MLS Grid
• 2018-08-15 Listing Removed — MRED as Distributed by MLS Grid
• 2018-07-25 Price Changed — MRED as Distributed by MLS Grid
• 2018-07-13 Price Changed — MRED as Distributed by MLS Grid
• 2018-06-27 Price Changed — MRED as Distributed by MLS Grid
• 2018-06-14 Listed — MRED as Distributed by MLS Grid
• 2015-08-28 Sold (MLS) $15,000 MRED as Distributed by MLS Grid
• 2015-07-23 Pending — MRED as Distributed by MLS Grid
• 2015-07-15 Price Changed $15,000 MRED as Distributed by MLS Grid
• 2015-04-09 Listed $25,000 MRED as Distributed by MLS Grid
• 1994-12-05 Sold (Public Records) $71,000 Public Records
• 1994-12-05 Sold (Public Records) $71,000 Public Records

Property tax history

+15.7%/yr

Latest (2023): $10,981 · +42.1% YoY. Source: county tax records.