3 Rich Ct · Park Forest, IL 60466

$190,000

3 bd · 2.0 ba · 1,512 sqft · SingleFamily public records · 124 Days on market

Built 1978 7,187 sqft lot Est $187k · at est.

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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 +25.7/30.0
• DSCR +8.6/10.0
• ARV discount +6.9/15.0
• 1% rule +6.8/10.0
• 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

Spacious 3 bed, 2 bath split-level home located on a quiet cul-de-sac in Park Forest. Features over 1,500 sq ft of living space, multiple living areas, attached garage, and a generous yard. Great opportunity for buyers looking to add value or investors seeking their next project. Motivated seller. Property being sold as-is. Bring your offers.

Key facts

• 7,187 sq ft lot
• 2 garage spots
• Built 1978

Property features AI

Finance

• Other: Parcel number: 31352010250000
• HOA & community: No master association fee required

Exterior

• Parking: Attached garage (2 spaces total)
• Utilities: Public water; Public sewer
• Home design: Detached single-family split-level home; Fee simple ownership; Built approximately 41–50 years ago; School bus service available
• Construction: Brick construction
• Exterior features: Less than 0.25-acre lot; Lot dimensions: 7200

Interior

• Kitchen: Eating-area kitchen (15 x 10); Range; Dishwasher; Refrigerator
• Bedrooms: Master bedroom on second level (18 x 14) with full bath; Second bedroom on second level (9 x 10); Third bedroom on second level (8 x 11)
• Bathrooms: Two full bathrooms
• Heating & cooling: Natural gas heating; Central air conditioning
• Interior features: Seven total rooms; Separate dining room; Basement with crawl space and daylight access
• Laundry & utility: Lower-level laundry (12 x 9) with washer and dryer

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $190k.

Deal economics

• At list price, monthly cash flow is $457 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $190k).
• Recommended offer: $167k (12.0% below list) — sets the bar for market timing.

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; 17 comparable units currently listed for rent nearby; rentals at typical pace (median 20d 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 44% 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 $6k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 124 days — a 12% lower offer ($167k) is reasonable based on typical stale-listing flexibility.
• 14 sale attempts since 4y ago; this cycle's ask has dropped $10k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $10k; list at $190k implies a 1900% gain — meaningful room to come down on a strong offer.

Recommended offer $167,200 (12.0% below list)

Questions for the listing agent

1. It's been on market 124 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 1978 — 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: 1.18% ✓
• Cap rate: 9.18%
• Cash-on-cash: 10.31%
• DSCR: 1.46
• GRM: 7.1

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	0.16mi	3/2.0	1,576 (+4%)	0mo	$180,000	$114	85
4 Lakewood Ct	0.11mi	4/2.0 (+1)	1,556 (+3%)	2mo	$205,000	$132	83
289 Westwood Dr	0.04mi	3/1.5	1,664 (+10%)	1mo	$95,102	$57	78
356 Waverly St	0.30mi	3/2.0	1,419 (-6%)	2mo	$120,000	$85	75
109 Wilson St	0.51mi	3/2.0	1,525 (+1%)	1mo	$233,500	$153	74
354 Westgate Dr	0.39mi	3/1.5	1,470 (-3%)	2mo	$75,000	$51	74
351 Waverly St	0.25mi	3/2.0	1,671 (+10%)	0mo	$149,000	$89	71
339 Blackhawk Dr	0.40mi	3/2.0	1,417 (-6%)	1mo	$234,200	$165	70
287 Mohawk St	0.33mi	3/1.0	1,408 (-7%)	1mo	$175,000	$124	68
245 Miami St	0.52mi	3/1.0	1,363 (-10%)	2mo	$139,000	$102	54
397 Oswego St	0.65mi	4/2.0 (+1)	1,398 (-8%)	2mo	$199,000	$142	50
409 Winnemac St	0.59mi	4/2.0 (+1)	1,736 (+15%)	3mo	$229,900	$132	40

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: -0.8%
• Equity multiple: 0.97×
• Total profit: $-1,635
• Equity at exit: $28,330

10-year hold

• IRR: 8.9%
• Equity multiple: 1.68×
• Total profit: $36,211
• Equity at exit: $16,428

Cash invested: $53,200 (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: 7.1×

Monthly cashflow live

• Estimated rent: $2,241 high
• Mortgage (P&I): −$996
• Tax est. 1.5%: −$238 /mo · $2,850/yr
• Insurance: −$79
• HOA: −$0
• Vacancy / Maint / Mgmt: −$471
• Net cashflow: $457

Break-even live

Break-even rent $1,662

Max offer price $190,000

Occupancy floor 75%

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: $47,500
• Closing costs: $5,700
• Reserves months: —
• Total cash needed: —

Rent comps 17 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	16d	1	0.51mi
372 Oswego St Park Forest, IL	4.0	1.0	1200	$2,600	$2.17	24d	1	0.74mi
411 Huron St Park Forest, IL	3.0	1.0	1092	$2,300	$2.11	24d	1	0.76mi
4014 Euclid Ln Richton Park, IL	2.0	1.0	1100	$2,100	$1.91	22d	1	0.91mi
4014 Euclid Ln Richton Park, IL	3.0	1.0	1100	$2,100	$1.91	13d	1	0.91mi
4014 Euclid Ln Richton Park, IL	2.0	1.0	1100	$2,100	$1.91	7d	1	0.91mi
111 Nashua St Park Forest, IL	4.0	1.5	1500	$2,500	$1.67	24d	1	0.97mi
3324 Western Ave Park Forest, IL	1.0–3.0	1.0	1026	$1,995	$1.94	1d	11	1.02mi
19 Apple Ln Park Forest, IL	3.0	1.0	1541	$2,300	$1.49	12d	1	1.04mi
336 Oakwood St Park Forest, IL	3.0	2.0	2083	$2,800	$1.34	10d	1	1.04mi
490 Shabbona Dr Park Forest, IL	3.0	1.0	1300	$1,895	$1.46	3d	1	1.08mi
441 Talala St Park Forest, IL	4.0	2.0	1740	$2,500	$1.44	24d	1	1.09mi
194 Monee Rd Park Forest, IL	3.0	1.0	1092	$1,971	$1.80	22d	1	1.21mi
4200 Arlington Dr Richton Park, IL	3.0	2.0	1595	$2,061	$1.29	20d	1	1.26mi
235 Tampa St Park Forest, IL	3.0	1.0	1092	$2,000	$1.83	24d	1	1.26mi
3838 216th Pl Matteson, IL	2.0	2.0	1160	$1,996	$1.72	20d	1	1.26mi
3538 212th Pl Matteson, IL	3.0	1.0	1209	$2,000	$1.65	24d	1	1.49mi

Listing history 50 events

1. 2026-06-18
   days on market $190,000 Active 124 DOM
2. 2026-06-17
   days on market $190,000 Active 123 DOM
3. 2026-06-16
   days on market $190,000 Active 122 DOM
4. 2026-06-15
   days on market $190,000 Active 121 DOM
5. 2026-06-13
   days on market $190,000 Active 119 DOM
6. 2026-06-09
   days on market $190,000 Active 115 DOM
7. 2026-06-08
   days on market $190,000 Active 114 DOM
8. 2026-06-07
   days on market $190,000 Active 113 DOM
9. 2026-06-04
   days on market $190,000 Active 110 DOM
10. 2026-06-03
    days on market $190,000 Active 109 DOM
11. 2026-06-02
    days on market $190,000 Active 108 DOM
12. 2026-06-01
    days on market $190,000 Active 107 DOM
13. 2026-05-31
    days on market $190,000 Active 106 DOM
14. 2026-03-19
    price $190,000
15. 2026-02-14
    listed $200,000 Active
16. 2025-12-17
    historical
17. 2025-11-10
    historical
18. 2025-10-30
    price
19. 2025-10-22
    price
20. 2025-10-07
    listed Active
21. 2025-10-04
    listed
22. 2025-09-01
    historical
23. 2025-08-16
    price
24. 2025-07-14
    price
25. 2025-07-03
    listed Active
26. 2025-06-03
    historical
27. 2025-06-02
    price
28. 2025-05-14
    price
29. 2025-05-10
    status Active
30. 2025-05-05
    historical
31. 2025-04-28
    price
32. 2025-04-16
    listed Active
33. 2024-12-01
    historical
34. 2024-10-23
    price
35. 2024-10-12
    listed Active
36. 2024-08-19
    price
37. 2024-08-19
    historical
38. 2024-08-15
    price
39. 2024-08-07
    price
40. 2024-07-26
    price
41. 2024-07-18
    price
42. 2024-07-08
    price
43. 2024-06-22
    price
44. 2024-06-22
    price
45. 2024-06-13
    status Active
46. 2024-06-13
    price
47. 2024-06-10
    historical
48. 2024-06-08
    price
49. 2024-05-26
    price
50. 2024-05-11
    price

ⓘ 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: $26,890
• − Mortgage interest: −$10,643
• − Property taxes: −$2,850
• − Insurance: −$950
• − Repairs & maintenance: −$2,151
• − Management: −$2,151
• − Depreciation: −$5,527
• Taxable income: $2,617
• Est. tax owed @ 24.0%: −$628
• After-tax cash flow: $4,858/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

+137.5% since first listed

60 events — show timeline

• 2026-03-19 Price Changed $190,000 MRED as Distributed by MLS Grid
• 2026-02-14 Listed $200,000 MRED as Distributed by MLS Grid
• 2025-12-17 Rental Removed — RENTSPREE
• 2025-11-10 Listing Removed — MRED as Distributed by MLS Grid
• 2025-10-30 Price Changed — MRED as Distributed by MLS Grid
• 2025-10-22 Price Changed — MRED as Distributed by MLS Grid
• 2025-10-07 Listed — MRED as Distributed by MLS Grid
• 2025-10-04 Listed for Rent — RENTSPREE
• 2025-09-01 Listing Removed — MRED as Distributed by MLS Grid
• 2025-08-16 Price Changed — MRED as Distributed by MLS Grid
• 2025-07-14 Price Changed — MRED as Distributed by MLS Grid
• 2025-07-03 Listed — MRED as Distributed by MLS Grid
• 2025-06-03 Listing Removed — MRED as Distributed by MLS Grid
• 2025-06-02 Price Changed — MRED as Distributed by MLS Grid
• 2025-05-14 Price Changed — MRED as Distributed by MLS Grid
• 2025-05-10 Relisted — MRED as Distributed by MLS Grid
• 2025-05-05 Listing Removed — MRED as Distributed by MLS Grid
• 2025-04-28 Price Changed — MRED as Distributed by MLS Grid
• 2025-04-16 Listed — MRED as Distributed by MLS Grid
• 2024-12-01 Listing Removed — MRED as Distributed by MLS Grid
• 2024-10-23 Price Changed — MRED as Distributed by MLS Grid
• 2024-10-12 Listed — MRED as Distributed by MLS Grid
• 2024-08-19 Price Changed — MRED as Distributed by MLS Grid
• 2024-08-19 Listing Removed — MRED as Distributed by MLS Grid
• 2024-08-15 Price Changed — MRED as Distributed by MLS Grid
• 2024-08-07 Price Changed — MRED as Distributed by MLS Grid
• 2024-07-26 Price Changed — MRED as Distributed by MLS Grid
• 2024-07-18 Price Changed — MRED as Distributed by MLS Grid
• 2024-07-08 Price Changed — MRED as Distributed by MLS Grid
• 2024-06-22 Price Changed — MRED as Distributed by MLS Grid
• 2024-06-22 Price Changed — MRED as Distributed by MLS Grid
• 2024-06-13 Relisted — MRED as Distributed by MLS Grid
• 2024-06-13 Price Changed — MRED as Distributed by MLS Grid
• 2024-06-10 Listing Removed — MRED as Distributed by MLS Grid
• 2024-06-08 Price Changed — MRED as Distributed by MLS Grid
• 2024-05-26 Price Changed — MRED as Distributed by MLS Grid
• 2024-05-11 Price Changed — MRED as Distributed by MLS Grid
• 2024-04-28 Price Changed — MRED as Distributed by MLS Grid
• 2024-04-06 Price Changed — MRED as Distributed by MLS Grid
• 2024-03-29 Price Changed — MRED as Distributed by MLS Grid
• 2024-03-22 Listed — MRED as Distributed by MLS Grid
• 2024-03-02 Listing Removed — MRED as Distributed by MLS Grid
• 2024-02-11 Price Changed — MRED as Distributed by MLS Grid
• 2024-01-28 Relisted — MRED as Distributed by MLS Grid
• 2024-01-28 Price Changed — MRED as Distributed by MLS Grid
• 2023-12-25 Listing Removed — MRED as Distributed by MLS Grid
• 2023-11-22 Price Changed — MRED as Distributed by MLS Grid
• 2023-10-27 Listed — MRED as Distributed by MLS Grid
• 2023-09-30 Listing Removed — MRED as Distributed by MLS Grid
• 2023-08-21 Price Changed — MRED as Distributed by MLS Grid
• 2023-07-07 Relisted — MRED as Distributed by MLS Grid
• 2023-05-22 Listing Removed — MRED as Distributed by MLS Grid
• 2023-03-30 Price Changed — MRED as Distributed by MLS Grid
• 2023-03-30 Relisted — MRED as Distributed by MLS Grid
• 2023-01-25 Listing Removed — MRED as Distributed by MLS Grid
• 2022-12-20 Listed — MRED as Distributed by MLS Grid
• 1984-11-01 Sold (Public Records) $9,500 Public Records
• 1984-11-01 Sold (Public Records) $9,500 Public Records
• 1983-08-01 Sold (Public Records) $83,497 Public Records
• 1979-12-05 Sold (Public Records) $80,000 Public Records

Property tax history

+4.1%/yr

Latest (2023): $11,712 · +35.4% YoY. Source: county tax records.