308 Shabbona Dr · Park Forest, IL 60466

$117,000

2 bd · 1.0 ba · 953 sqft · SingleFamily public records · 252 Days on market

Built 1962 Est $135k · 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 +13.6/15.0
• 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 MLS

Ranch features living room with fireplace, eat-in kitchen, 3 spacious bedrooms and 1 bath. Attached 1 car garage. Sold as is. No disclosures, no termite, no survey. Any realty transfer taxes due will be the sole responsibility of purchaser.

Key facts

• Close to parks
• Cozy living room
• Attached garage

Tags

• COZY LIVING ROOM
• EAT-IN KITCHEN
• LARGE BACKYARD
• ATTACHED GARAGE
• CLOSE TO PARKS
• CLOSE TO SHOPPING

Property features AI

Finance

• Other: Living area per assessor
• Financial info: Special service area: No
• HOA & community: No master association fee required

Exterior

• Parking: Attached garage (1 car)
• Utilities: Public water; Public sewer
• Home design: Detached single-family home; One story; Fee simple ownership; Home built prior to 1978
• Construction: Vinyl siding construction; Built 61–70 years ago
• Exterior features: Vinyl siding; Lot less than 0.25 acre; Lot dimensions: 7200

Interior

• Kitchen: Kitchen on the main level (10 x 12); Range; Refrigerator
• Bedrooms: Master bedroom on the main level (10 x 10); Two additional main-level bedrooms (each 10 x 10)
• Bathrooms: One full bathroom
• Heating & cooling: Natural gas forced-air heating; Central air conditioning
• Interior features: Utility room on the main level (8 x 10); Living room; Dining room; Family room
• Laundry & utility: Laundry room; Main-level utility room

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $117k.

Deal economics

• At list price, monthly cash flow is $556 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $117k).
• Recommended offer: $103k (12.0% below list) — sets the bar for market timing.
• Cap rate 12.0% vs local median 9.5% 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 8d 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 34% 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 $809 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 $33k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 252 days — a 12% lower offer ($103k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 16y ago; this cycle's ask has dropped $28k (19%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $30k; list at $117k implies a 290% gain — meaningful room to come down on a strong offer.

Recommended offer $102,960 (12.0% below list)

Questions for the listing agent

1. It's been on market 252 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 1962 — 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: 12.00%
• Cash-on-cash: 20.38%
• DSCR: 1.91
• GRM: 5.6

CMA / ARV

• ARV (on-the-fly): $135,326
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
316 Mohawk St	0.14mi	2/1.0	949 (-0%)	2mo	$141,000	$149	91
318 Minocqua St	0.12mi	2/1.0	974 (+2%)	1mo	$145,000	$149	90
354 Marquette St	0.27mi	2/1.0	973 (+2%)	2mo	$131,000	$135	82
209 Miami St	0.44mi	2/1.0	974 (+2%)	1mo	$108,000	$111	75
254 Blackhawk Dr	0.35mi	2/1.0	1,000 (+5%)	2mo	$105,000	$105	74
314 Seminole St	0.57mi	2/1.0	949 (-0%)	1mo	$135,000	$142	72
314 Windsor St	0.25mi	3/1.0 (+1)	1,014 (+6%)	2mo	$141,000	$139	71
223 S Orchard Dr	0.67mi	2/1.0	949 (-0%)	0mo	$105,000	$111	68
310 Nassau St	0.62mi	3/1.0 (+1)	953 (0%)	1mo	$129,000	$135	65
208 Miami St	0.43mi	3/1.5 (+1)	1,053 (+10%)	2mo	$175,000	$166	54
434 Shabbona Dr	0.53mi	3/1.0 (+1)	1,092 (+15%)	0mo	$177,900	$163	46
429 Natoma St	0.75mi	3/1.0 (+1)	1,035 (+9%)	0mo	$159,000	$154	45

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: 12.7%
• Equity multiple: 1.50×
• Total profit: $16,504
• Equity at exit: $17,445

10-year hold

• IRR: 21.6%
• Equity multiple: 2.83×
• Total profit: $60,108
• Equity at exit: $10,116

Cash invested: $32,760 (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: $1,728 high
• Mortgage (P&I): −$614
• Tax est. 1.5%: −$146 /mo · $1,755/yr
• Insurance: −$49
• HOA: −$0
• Vacancy / Maint / Mgmt: −$363
• Net cashflow: $556

Break-even live

Break-even rent $1,023

Max offer price $117,000

Occupancy floor 63%

Sensitivity live

Price	-10% $637	-5% $597	+0% $556	+5% $516	+10% $476
Rent	-10% $420	-5% $488	+0% $556	+5% $625	+10% $693
Rate	-1.0pp $615	-0.5pp $586	base $556	+0.5pp $526	+1.0pp $495

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: $29,250
• Closing costs: $3,510
• 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	$2,200	$2.01	0d	1	0.56mi
277 Somonauk St Park Forest, IL	3.0	1.0	966	$2,000	$2.07	4d	1	0.67mi
3905 Tower Dr Richton Park, IL	1.0–2.0	1.0–2.0	905	$1,795	$1.98	0d	19	0.99mi
11 Fir St Park Forest, IL	1.0–3.0	1.0	1026	$1,669	$1.63	0d	1	0.99mi
3484 Western Ave Unit 3484-B Park Forest, IL	1.0	1.0	600	$1,300	$2.17	2d	1	1.00mi
194 Monee Rd Park Forest, IL	3.0	1.0	1092	$1,971	$1.80	22d	1	1.00mi
3324 Western Ave Park Forest, IL	1.0–3.0	1.0	1026	$1,680	$1.64	0d	11	1.03mi
4014 Euclid Ln Richton Park, IL	3.0	1.0	1100	$2,100	$1.91	13d	1	1.03mi
4014 Euclid Ln Richton Park, IL	2.0	1.0	1100	$2,100	$1.91	8d	1	1.03mi
4014 Euclid Ln Richton Park, IL	2.0	1.0	1100	$2,100	$1.91	22d	1	1.03mi
235 Tampa St Park Forest, IL	3.0	1.0	1092	$2,000	$1.83	25d	1	1.06mi
22501 Butterfield Rd Unit 22411-514 Richton Park, IL	2.0	1.5	1021	$1,365	$1.34	8d	1	1.26mi
22501 Butterfield Rd Unit 22411-506 Richton Park, IL	2.0	1.0	882	$1,325	$1.50	8d	1	1.26mi
22501 Butterfield Rd Unit 22407-202 Richton Park, IL	1.0	1.0	667	$1,210	$1.81	8d	1	1.26mi
22501 Butterfield Rd Unit 22400-311 Richton Park, IL	2.0	1.0	882	$1,360	$1.54	8d	1	1.26mi
22501 Butterfield Rd Unit 22415-207 Richton Park, IL	2.0	1.5	944	$1,360	$1.44	8d	1	1.26mi
22501 Butterfield Rd Unit 22411-304 Richton Park, IL	1.0	1.0	688	$1,215	$1.77	8d	1	1.26mi
22501 Butterfield Rd Unit 22419-109 Richton Park, IL	2.0	1.0	798	$1,310	$1.64	8d	1	1.26mi
22501 Butterfield Rd Unit 22407-104 Richton Park, IL	1.0	1.0	621	$1,195	$1.92	8d	1	1.26mi
23439 Western Ave Unit K12 Park Forest, IL	1.0	1.0	800	$1,415	$1.77	2d	1	1.40mi
23439 Western Ave Unit C29 Park Forest, IL	2.0	2.0	975	$1,570	$1.61	2d	1	1.40mi

Listing history 46 events

1. 2026-06-18
   days on market $117,000 Active 252 DOM
2. 2026-06-17
   days on market $117,000 Active 251 DOM
3. 2026-06-16
   days on market $117,000 Active 250 DOM
4. 2026-06-15
   days on market $117,000 Active 249 DOM
5. 2026-06-13
   days on market $117,000 Active 247 DOM
6. 2026-06-09
   days on market $117,000 Active 243 DOM
7. 2026-06-08
   days on market $117,000 Active 242 DOM
8. 2026-06-07
   days on market $117,000 Active 241 DOM
9. 2026-06-04
   days on market $117,000 Active 238 DOM
10. 2026-06-03
    days on market $117,000 Active 237 DOM
11. 2026-06-02
    days on market $117,000 Active 236 DOM
12. 2026-06-01
    days on market $117,000 Active 235 DOM
13. 2026-05-31
    days on market $117,000 Active 234 DOM
14. 2026-05-15
    price $117,000
15. 2026-04-17
    price $119,000
16. 2026-03-10
    price $120,000
17. 2026-02-06
    price $121,000
18. 2026-01-16
    price $125,000
19. 2025-12-19
    price $129,000
20. 2025-11-21
    price $133,000
21. 2025-10-31
    price $139,000
22. 2025-10-09
    listed $145,000 Active
23. 2024-01-24
    historical $1,375
24. 2024-01-23
    historical $1,375
25. 2024-01-10
    price $1,375
26. 2024-01-04
    listed $1,425
27. 2024-01-04
    price $1,425
28. 2024-01-03
    listed $1,505
29. 2023-12-16
    historical $1,505
30. 2023-12-14
    historical $1,505
31. 2023-12-14
    listed $1,505
32. 2023-12-09
    listed $1,505
33. 2013-07-11
    soldstatus $30,000 Closed Sale 240-char remark

    Show marketing remark (240 chars)

    Ranch features living room with fireplace, eat-in kitchen, 3 spacious bedrooms and 1 bath. Attached 1 car garage. Sold as is. No disclosures, no termite, no survey. Any realty transfer taxes due will be the sole responsibility of purchaser.

34. 2013-07-09
    status Reactivated 240-char remark

    Show marketing remark (240 chars)

    Ranch features living room with fireplace, eat-in kitchen, 3 spacious bedrooms and 1 bath. Attached 1 car garage. Sold as is. No disclosures, no termite, no survey. Any realty transfer taxes due will be the sole responsibility of purchaser.

35. 2013-03-01
    status Pending 240-char remark

    Show marketing remark (240 chars)

    Ranch features living room with fireplace, eat-in kitchen, 3 spacious bedrooms and 1 bath. Attached 1 car garage. Sold as is. No disclosures, no termite, no survey. Any realty transfer taxes due will be the sole responsibility of purchaser.

36. 2013-02-08
    listed $23,450 New 240-char remark

    Show marketing remark (240 chars)

    Ranch features living room with fireplace, eat-in kitchen, 3 spacious bedrooms and 1 bath. Attached 1 car garage. Sold as is. No disclosures, no termite, no survey. Any realty transfer taxes due will be the sole responsibility of purchaser.

37. 2011-11-28
    historical
38. 2011-04-11
    historical Contingent
39. 2011-03-01
    price Price Change
40. 2011-01-26
    price Price Change
41. 2010-11-02
    price Price Change
42. 2010-09-24
    listed New
43. 2000-06-06
    soldstatus $75,500
44. 1993-08-12
    soldstatus $71,000
45. 1991-09-24
    soldstatus $64,500
46. 1987-04-01
    soldstatus $45,900

ⓘ 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: $20,733
• − Mortgage interest: −$6,554
• − Property taxes: −$1,755
• − Insurance: −$585
• − Repairs & maintenance: −$1,659
• − Management: −$1,659
• − Depreciation: −$3,404
• Taxable income: $5,119
• Est. tax owed @ 24.0%: −$1,228
• After-tax cash flow: $5,448/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

+154.9% since first listed

33 events — show timeline

• 2026-05-15 Price Changed $117,000 MRED as Distributed by MLS Grid
• 2026-04-17 Price Changed $119,000 MRED as Distributed by MLS Grid
• 2026-03-10 Price Changed $120,000 MRED as Distributed by MLS Grid
• 2026-02-06 Price Changed $121,000 MRED as Distributed by MLS Grid
• 2026-01-16 Price Changed $125,000 MRED as Distributed by MLS Grid
• 2025-12-19 Price Changed $129,000 MRED as Distributed by MLS Grid
• 2025-11-21 Price Changed $133,000 MRED as Distributed by MLS Grid
• 2025-10-31 Price Changed $139,000 MRED as Distributed by MLS Grid
• 2025-10-09 Listed $145,000 MRED as Distributed by MLS Grid
• 2024-01-24 Rental Removed $1,375 RENTLY
• 2024-01-23 Rental Removed $1,375 RENT.
• 2024-01-10 Price Changed $1,375 RENTLY
• 2024-01-04 Listed for Rent $1,425 RENTLY
• 2024-01-04 Price Changed $1,425 RENT.
• 2024-01-03 Listed for Rent $1,505 RENT.
• 2023-12-16 Rental Removed $1,505 RENTLY
• 2023-12-14 Rental Removed $1,505 RENT.
• 2023-12-14 Listed for Rent $1,505 RENTLY
• 2023-12-09 Listed for Rent $1,505 RENT.
• 2013-07-11 Sold (MLS) $30,000 MRED as Distributed by MLS Grid
• 2013-07-09 Relisted — MRED as Distributed by MLS Grid
• 2013-03-01 Pending — MRED as Distributed by MLS Grid
• 2013-02-08 Listed $23,450 MRED as Distributed by MLS Grid
• 2011-11-28 Listing Removed — MRED as Distributed by MLS Grid
• 2011-04-11 Contingent — MRED as Distributed by MLS Grid
• 2011-03-01 Price Changed — MRED as Distributed by MLS Grid
• 2011-01-26 Price Changed — MRED as Distributed by MLS Grid
• 2010-11-02 Price Changed — MRED as Distributed by MLS Grid
• 2010-09-24 Listed — MRED as Distributed by MLS Grid
• 2000-06-06 Sold (Public Records) $75,500 Public Records
• 1993-08-12 Sold (Public Records) $71,000 Public Records
• 1991-09-24 Sold (Public Records) $64,500 Public Records
• 1987-04-01 Sold (Public Records) $45,900 Public Records

Property tax history

+6.0%/yr

Latest (2023): $7,896 · +60.3% YoY. Source: county tax records.