301 Dogwood St · Park Forest, IL 60466

$84,000

2 bd · 1.0 ba · 1,200 sqft · Townhouse · 1 Days on market

Built 1948 Est $74k · 13% over $170/mo HOA · 10% of rent

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +1.7/15.0
• Schools +0.9/10.0
• Appreciation +0.0/10.0

Listing remarks

Beautiful 2-story townhome in Park Forest! This well-maintained home features 2 spacious bedrooms, 1 full bathroom, and a huge basement offering plenty of storage or additional living space. Enjoy new flooring and fresh paint throughout, making this home move-in ready. A great opportunity for comfortable living at an affordable price!

Key facts

• $170 HOA
• 2 parking spots
• Built 1948

Property features AI

Finance

• Other: Living area source: assessor; Property not currently leased; Directions: East on Sauk Trail Road to East 26th St to Westwood Dr
• HOA & community: Monthly association fee of $170; HOA covers insurance, exterior maintenance, lawn care, refuse collection, and snow removal; Manager off-site; Pets allowed (cats and dogs), maximum pet weight 50 lbs

Exterior

• Parking: 2 parking spaces; Asphalt driveway
• Utilities: Public water; Public sewer
• Home design: Attached single-unit townhome, two-story; Entry level: 1; Fee simple ownership with homeowners association
• Construction: Brick construction; Built approximately 71–80 years ago; Built before 1978
• Exterior features: Common grounds

Interior

• Kitchen: Kitchen located on lower level (11 x 12)
• Bedrooms: Master bedroom on second level (12 x 14); Second bedroom on second level (12 x 12); Two additional bedrooms listed
• Flooring: Laminate flooring
• Bathrooms: 1 full bathroom
• Heating & cooling: Natural gas heating; Central air conditioning
• Interior features: 5 total rooms; Unfinished full basement; School bus service, commuter train access, and interstate access nearby
• Laundry & utility: In-unit laundry with gas dryer hookup

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath townhouse listed at $84k.

Deal economics

• At list price, monthly cash flow is $607 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $84k).
• Cap rate 15.0% vs local median 9.7% 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: 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; 13 comparable units currently listed for rent nearby; rentals leasing fast (median 2d 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 $581 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 $24k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 4y 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 $64k; 30% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1948 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $84,000

Questions for the listing agent

1. Built in 1948 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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: 2.08% ✓
• Cap rate: 14.96%
• Cash-on-cash: 30.95%
• DSCR: 2.38
• GRM: 4.0

CMA / ARV

• ARV (on-the-fly): $74,400
• Comps found: 10

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
291 Dogwood St	0.04mi	3/1.0 (+1)	1,200 (0%)	12mo	$47,000	$39	83
17 Michael Rd	0.10mi	2/1.0	1,200 (0%)	18mo	$52,000	$43	80
307 Dogwood St	0.03mi	2/1.0	1,200 (0%)	24mo	$74,000	$62	79
11 Michael Rd	0.08mi	2/1.0	1,100 (-8%)	9mo	$50,000	$45	75
3414 Western Ave Unit 15-5	0.24mi	2/1.5	1,200 (0%)	20mo	$85,000	$71	70
6 Mccarthy Rd #6	0.45mi	2/1.0	1,200 (0%)	12mo	$85,000	$71	69
43 Indianwood Blvd	0.26mi	2/1.0	1,100 (-8%)	8mo	$83,000	$75	68
215 Krotiak Rd	0.70mi	2/1.0	1,218 (+2%)	11mo	$45,000	$37	56
29 Cunningham Ln	0.72mi	2/2.0	1,094 (-9%)	5mo	$141,000	$129	44
47 Dogwood St	0.35mi	3/1.0 (+1)	1,044 (-13%)	22mo	$28,000	$27	38

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: 25.8%
• Equity multiple: 2.07×
• Total profit: $25,170
• Equity at exit: $12,525

10-year hold

• IRR: 33.6%
• Equity multiple: 4.07×
• Total profit: $72,262
• Equity at exit: $7,263

Cash invested: $23,520 (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: 4.0×

Monthly cashflow live

• Estimated rent: $1,751 high
• Mortgage (P&I): −$441
• Tax from tax record: −$131 /mo · $1,571/yr
• Insurance: −$35
• HOA: −$170
• Vacancy / Maint / Mgmt: −$368
• Net cashflow: $607

Break-even live

Break-even rent $983

Max offer price $84,000

Occupancy floor 60%

Sensitivity live

Price	-10% $654	-5% $630	+0% $607	+5% $583	+10% $559
Rent	-10% $468	-5% $537	+0% $607	+5% $676	+10% $745
Rate	-1.0pp $649	-0.5pp $628	base $607	+0.5pp $585	+1.0pp $563

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: $21,000
• Closing costs: $2,520
• Reserves months: —
• Total cash needed: —

Rent comps 13 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3324 Western Ave Park Forest, IL	1.0–3.0	1.0	1026	$1,680	$1.64	0d	11	0.18mi
11 Fir St Park Forest, IL	1.0–3.0	1.0	1026	$1,669	$1.63	0d	1	0.37mi
23439 Western Ave Unit K12 Park Forest, IL	1.0	1.0	800	$1,415	$1.77	2d	1	0.92mi
23439 Western Ave Unit C29 Park Forest, IL	2.0	2.0	975	$1,570	$1.61	2d	1	0.92mi
631 Andover St Chicago Heights, IL	3.0	1.0	900	$1,450	$1.61	4d	1	1.07mi
236 Chestnut Ave Unit S South Chicago Heights, IL	3.0	1.0	1032	$2,000	$1.94	25d	1	1.28mi
444 Hickory St Unit 2A Chicago Heights, IL	3.0	1.0	900	$1,695	$1.88	2d	1	1.29mi
436 W Hickory St Unit Na Chicago Heights, IL	3.0	1.0	1091	$1,800	$1.65	2d	1	1.30mi
432 Hickory St Unit 2 Chicago Heights, IL	3.0	1.0	1200	$1,800	$1.50	21d	1	1.30mi
417 W Hickory St Unit 2 Chicago Heights, IL	3.0	1.0	900	$1,800	$2.00	21d	1	1.35mi
316 W 34th St Steger, IL	3.0	1.0–1.5	720	$1,493	$2.07	2d	5	1.36mi
411 Huron St Park Forest, IL	3.0	1.0	1092	$2,200	$2.01	0d	1	1.39mi
370 E 17th St Chicago Heights, IL	3.0	1.0	1058	$2,600	$2.46	17d	1	1.44mi

HOA detail

• Monthly dues: $170 · $2,040/yr

Listing history 2 events

1. 2026-06-18
   remarks 336-char remark
2. 2026-06-18
   listed $84,000 Active 1 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast IL · Partial reset (capped growth)

• Current annual tax: $1,571 · $131/mo
• Projected year-2 tax: $1,739 · $145/mo
• Expected delta: +$168/yr (+$14/mo · 10.7%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

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: $21,008
• − Mortgage interest: −$4,705
• − Property taxes: −$1,571
• − Insurance: −$420
• − Repairs & maintenance: −$1,681
• − Management: −$1,681
• − HOA: −$2,040
• − Depreciation: −$2,444
• Taxable income: $6,467
• Est. tax owed @ 24.0%: −$1,552
• After-tax cash flow: $5,727/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

+162.5% since first listed

14 events — show timeline

• 2026-06-17 Listed $84,000 MRED as Distributed by MLS Grid
• 2023-02-27 Listing Removed — MRED as Distributed by MLS Grid
• 2023-02-03 Price Changed — MRED as Distributed by MLS Grid
• 2023-01-19 Price Changed — MRED as Distributed by MLS Grid
• 2023-01-08 Relisted — MRED as Distributed by MLS Grid
• 2023-01-06 Listing Removed — MRED as Distributed by MLS Grid
• 2022-12-20 Price Changed — MRED as Distributed by MLS Grid
• 2022-11-28 Price Changed — MRED as Distributed by MLS Grid
• 2022-11-03 Price Changed — MRED as Distributed by MLS Grid
• 2022-10-10 Price Changed — MRED as Distributed by MLS Grid
• 2022-10-09 Listed — MRED as Distributed by MLS Grid
• 2005-06-13 Sold (Public Records) $64,500 Public Records
• 1994-10-17 Sold (Public Records) $47,500 Public Records
• 1987-01-12 Sold (Public Records) $32,000 Public Records

Property tax history

+0.3%/yr

Latest (2023): $1,571 · +278.3% YoY. Source: county tax records.