7432 W Washington St #604 · Forest Park, IL 60130

$120,000

1 bd · 1.0 ba · 800 sqft · Condo · 17 Days on market

Built 1975 $330/mo HOA · 21% of rent

---

Why this score? — see what drove the D 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 +12.5/30.0
• 1% rule +8.4/10.0
• ARV discount +7.5/15.0
• Livability +4.3/5.0
• DSCR +3.7/10.0
• Rent growth +3.2/5.0
• Condition / age +2.5/5.0
• Schools +1.4/10.0
• Appreciation +0.0/10.0

Listing remarks

Live in the heart of downtown Forest Park, just one block from vibrant nightlife and shopping. This charming 1-bedroom condo is situated in a modern, secure elevator building filled with natural light. It features a mix of wood, tile flooring, spacious closets, and a private storage locker. Assigned parking is available, and the building offers coin-operated laundry. Tenants are responsible for electric heat and electricity, while all other building amenities are included. The location couldn't be more convenient - just a 15-minute walk to the Harlem/Lake CTA Green Line or the Harlem CTA Blue Line, and a quick 5-minute drive to I-290. Madison Avenue's shops and restaurants are also just ste

Key facts

• Spacious closets
• Natural light
• Assigned parking

Tags

• NATURAL LIGHT
• MIX OF WOOD TILE FLOORING
• SPACIOUS CLOSETS
• PRIVATE STORAGE LOCKER
• ASSIGNED PARKING
• 15 MINUTE WALK TO CTA

Property features AI

Finance

• Other: Subdivision: The Villager
• Financial info: Special service area: No
• HOA & community: Monthly association fee of $330; Association fee covers water, insurance, security, exterior maintenance, trash (scavenger) and snow removal; Building amenities include coin laundry and storage; Pets are not allowed

Exterior

• Parking: One assigned, owned parking space
• Security: Association-provided security included
• Utilities: Lake Michigan water; Public sewer; Electric service with circuit breakers
• Home design: Attached single-unit condo; Entry at level 5; Part of a 43-unit building; Commuter-friendly location (bus and train access)
• Construction: Brick construction; Tar and gravel roof; Concrete perimeter foundation; Building age approximately 51–60 years; Unit rebuilt/rehab completed in 2025
• Exterior features: Common lot area

Interior

• Kitchen: Range; Refrigerator; Kitchen on main level (8 x 5)
• Bedrooms: Master bedroom on main level (13 x 10); Additional bedrooms
• Flooring: Vinyl flooring throughout primary living spaces and bedrooms; Vinyl in dining area and kitchen
• Bathrooms: One full bathroom
• Heating & cooling: Electric heating; Wall-mounted cooling unit(s)
• Interior features: Four total rooms; Dining area combined with living room; Common area laundry
• Laundry & utility: Laundry located in common area

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $120k.

Deal economics

• At list price, monthly cash flow is $-17 ($-206/yr) — negative.
• To cash-flow at today's rent, offer at most $117k (2.5% below list).
• Meets the 1% rule at list price ($2k rent vs $120k).
• Recommended offer: $117k (2.5% below list) — sets the bar for cash-flow.
• Cap rate 6.1% vs local median 3.1% in Forest Park — 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 86/100 on livability (#20 in IL, #405 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, housing A+; Watch: crime F.
• Proviso Twp Hsd 209 (suburban): math 12% / reading 17% proficiency, ranked #507 of 620 in IL (top 82%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Garfield Elem School (196 students, 0% FRL); Forest Park Middle School (math 2% / reading 17%, grade F, #592 of 665 statewide, top 90%, 160 students, 0% FRL); Proviso West High School (math 6% / reading 11%, grade F, #584 of 693 statewide, top 85%, 1,868 students, 0% FRL).
• Market conditions: Rents rising (+2.8%/yr); 46 active listings in the ZIP; 37 comparable units currently listed for rent nearby; rentals leasing fast (median 9d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 6,272 units permitted in Cook County in 2024 (4,658 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $830 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 17 days — a 2% lower offer ($118k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 2y 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 $44k; list at $120k implies a 176% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 2.7% of price; HOA is 21% of rent.

Recommended offer $116,973 (2.5% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Built in 1975 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
8. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
9. 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.
10. 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.
11. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.34% ✓
• Cap rate: 6.12%
• Cash-on-cash: -0.61%
• DSCR: 0.97
• GRM: 6.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 2.76% rent growth · sell at horizon

5-year hold

• IRR: -17.4%
• Equity multiple: 0.39×
• Total profit: $-20,619
• Equity at exit: $17,892

10-year hold

• IRR: -9.6%
• Equity multiple: 0.41×
• Total profit: $-19,705
• Equity at exit: $10,375

Cash invested: $33,600 (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 60130

• Rents YoY: 2.8%
• Active inventory: 46
• Price-to-rent: 6.2×

Monthly cashflow live

• Estimated rent: $1,603 high
• Mortgage (P&I): −$629
• Tax from tax record: −$274 /mo · $3,291/yr
• Insurance: −$50
• HOA: −$330
• Vacancy / Maint / Mgmt: −$337
• Net cashflow: $-17

Break-even live

Break-even rent $1,625

Max offer price $116,973

Occupancy floor 96%

Sensitivity live

Price	-10% $51	-5% $17	+0% $-17	+5% $-51	+10% $-85
Rent	-10% $-144	-5% $-80	+0% $-17	+5% $46	+10% $110
Rate	-1.0pp $43	-0.5pp $13	base $-17	+0.5pp $-48	+1.0pp $-80

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: $30,000
• Closing costs: $3,600
• Reserves months: —
• Total cash needed: —

Rent comps 37 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
7432 Washington St Forest Park, IL	1.0–2.0	1.0–1.5	924	$1,295	$1.40	15d	3	0.02mi
7443 Washington St #603 Forest Park, IL	1.0	1.0	700	$1,400	$2.00	4d	1	0.05mi
300 Des Plaines Ave Forest Park, IL	1.0	1.0	700	$1,300	$1.86	9d	1	0.08mi
7522 Madison St Forest Park, IL	2.0	1.0	958	$2,695	$2.81	26d	1	0.16mi
314 Lathrop Ave #404 Forest Park, IL	1.0	1.0	675	$1,500	$2.22	26d	1	0.16mi
7232 Randolph St Unit 101 Forest Park, IL	1.0	1.0	645	$1,200	$1.86	4d	1	0.27mi
7232 Randolph St Unit 401 Forest Park, IL	1.0	1.0	645	$1,400	$2.17	0d	1	0.27mi
111 Des Plaines Ave Unit G Forest Park, IL	2.0	1.0	900	$1,400	$1.56	26d	1	0.27mi
520 Des Plaines Ave Forest Park, IL	1.0–2.0	1.0–2.0	1050	$1,699	$1.62	26d	1	0.34mi
616 Circle Ave Unit 1 Forest Park, IL	2.0	1.0	1100	$2,350	$2.14	4d	1	0.43mi
616 Circle Ave Forest Park, IL	2.0	1.0	1100	$2,350	$2.14	26d	1	0.43mi
616 Lathrop Ave Forest Park, IL	2.0	1.0	1000	$1,695	$1.70	26d	1	0.44mi
7745 Adams St Unit 3E Forest Park, IL	1.0	1.0	850	$1,395	$1.64	9d	1	0.45mi
1133 South Blvd Oak Park, IL	3.0	1.0–2.0	1008	$3,595	$3.57	0d	10	0.51mi
1105 Pleasant St Oak Park, IL	3.0	1.0–2.0	1410	$3,785	$2.68	0d	8	0.51mi
837 Lathrop Ave Unit GW Forest Park, IL	1.0	1.0	790	$1,480	$1.87	19d	1	0.73mi
846 Circle Ave #1 Forest Park, IL	2.0	1.0	1100	$2,000	$1.82	13d	1	0.74mi
839 Dunlop Ave Unit 1244957P Forest Park, IL	1.0	1.0	699	$3,861	$5.52	22d	1	0.75mi
839 Dunlop Ave Unit 1296499P Forest Park, IL	1.0	1.0	699	$3,590	$5.14	8d	1	0.75mi
100 Forest Pl Oak Park, IL	1.0–2.0	1.0–2.5	945	$1,797	$1.90	6d	15	0.75mi
1000 Lake St Oak Park, IL	2.0	1.0–2.0	929	$3,274	$3.52	0d	32	0.77mi
1030 Dunlop Ave Unit 2C Forest Park, IL	2.0	1.0	990	$1,695	$1.71	5d	1	0.97mi
1030 Dunlop Ave Unit 2W Forest Park, IL	2.0	1.0	990	$1,695	$1.71	26d	1	0.97mi
703 Madison St Unit 526 Oak Park, IL	1.0	1.0	543	$5,500	$10.13	4d	1	0.97mi
1114 Beloit Ave Forest Park, IL	2.0	1.0	1072	$2,800	$2.61	14d	1	1.03mi
1124 Hannah Ave Unit 1F Forest Park, IL	1.0	1.0	617	$1,500	$2.43	6d	1	1.05mi
1140 Lathrop Ave Unit 208 Forest Park, IL	1.0	1.0	700	$1,345	$1.92	26d	1	1.11mi
1128 Des Plaines Ave Forest Park, IL	1.0	1.0	700	$1,500	$2.14	26d	1	1.15mi
7234 Roosevelt Rd Forest Park, IL	2.0	1.0	850	$1,895	$2.23	20d	1	1.15mi
1227 S Harlem Ave #215 Berwyn, IL	1.0	1.0	700	$1,545	$2.21	7d	1	1.23mi
1031 S Dunlop Unit 1-w Forest Park, IL	2.0	1.0	950	$1,695	$1.78	26d	1	1.25mi
404 School St Maywood, IL	2.0	1.0	737	$1,565	$2.12	0d	1	1.39mi
410 School St Apt 2A Maywood, IL	1.0	1.0	817	$1,400	$1.71	0d	1	1.42mi
903 S 5th Ave Apt 2C Maywood, IL	1.0	1.0	585	$1,100	$1.88	24d	1	1.43mi
8280 Roosevelt Rd Unit 1S-8284 Forest Park, IL	2.0	1.0	800	$1,495	$1.87	3d	1	1.43mi
8280 Roosevelt Rd Unit 1S-8280 Forest Park, IL	1.0	1.0	700	$1,295	$1.85	0d	1	1.43mi
1436 Marengo Ave Unit 2R Forest Park, IL	1.0	1.0	550	$1,375	$2.50	26d	1	1.48mi

HOA detail condo

• Monthly dues: $330 · $3,960/yr
• Likely covers: electricparking
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 11 events

1. 2026-06-21
   days on market $120,000 Active 17 DOM
2. 2026-06-18
   days on market $120,000 Active 14 DOM
3. 2026-06-17
   days on market $120,000 Active 13 DOM
4. 2026-06-16
   days on market $120,000 Active 12 DOM
5. 2026-06-15
   days on market $120,000 Active 11 DOM
6. 2026-06-13
   days on market $120,000 Active 9 DOM
7. 2026-06-13
   days on market $120,000 Active 8 DOM
8. 2026-06-09
   days on market $120,000 Active 5 DOM
9. 2026-06-08
   days on market $120,000 Active 4 DOM
10. 2026-06-07
    remarks 699-char remark
11. 2026-06-07
    listed $120,000 Active 3 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: $3,291 · $274/mo
• Projected year-2 tax: $3,291 · $274/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 ≥100°F today · 14 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 5/10 Major 6 unhealthy d/yr today · 8 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,236
• − Mortgage interest: −$6,722
• − Property taxes: −$3,291
• − Insurance: −$600
• − Repairs & maintenance: −$1,539
• − Management: −$1,539
• − HOA: −$3,960
• − Depreciation: −$3,491
• Taxable loss: −$1,905
• Est. tax savings @ 24.0%: +$457
• After-tax cash flow: $252/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: Proviso Twp Hsd 209
• NCES district ID: 1732910
• Math proficiency: 12% ▼ -4.00%
• Reading proficiency: 17% ▼ -3.00%
• Median HH income: $51,744
• Composite: 13.5/100
• National rank: #9518
• State rank: #507 of 620 in IL

Livability — Forest Park

• Score: 86/100
• State rank: #20
• US rank: #405

Category grades

Amenities A+ Commute A+ Cost of living B Crime F Employment A Housing A+ Health & safety B- User ratings A+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Forest Park, IL
• County: Cook County · 4,486,803 people
• City population: 13,943
• Metro: Chicago-Naperville-Elgin, IL-IN-WI
• Population (ZIP): 13,943
• Household income: $77,221
• Rent vs Own: 47.2% rent · 52.8% own
• Severe rent burden: 650.0

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: Diverse neighborhood (Simpson 0.64)
• Race & ethnicity: White 53% Black 25% Hispanic / Latino 11% Two or more races 7% Asian 7%
• Hispanic origin (detail): Mexican 6% Puerto Rican 2%
• Common ancestry: Romanian 5% Lithuanian 3% Serbian 2%
• Foreign-born: 9% · Canada
• Languages at home: 85% English-only · Spanish 8% Other Asian/Pacific 2% Arabic 2%

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: ▼ -192.60%
• Current HPI: 292.8802
• Rent YoY: ▲ 2.76%
• 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

-85.9% since first listed

5 events — show timeline

• 2026-06-05 Listed $120,000 MRED as Distributed by MLS Grid
• 2024-04-10 Rental Removed $1,300 APPFOLIO
• 2024-04-02 Listed for Rent $1,300 APPFOLIO
• 1997-08-13 Sold (Public Records) $43,500 Public Records
• 1990-06-01 Sold (Public Records) $850,000 Public Records

Property tax history

+8.1%/yr

Latest (2023): $3,291 · +34.4% YoY. Source: county tax records.