240 Miami St · Park Forest, IL 60466

$105,000

2 bd · 1.0 ba · 949 sqft · SingleFamily public records · 240 Days on market

Built 1952 7,200 sqft lot Est $135k · 22% 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 +15.0/15.0
• 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
• Schools +0.9/10.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to 240 Miami St. , Park Forest, IL! This charming 2-bedroom, 1-bathroom home perfectly blends traditional appeal with modern comfort, offering a peaceful living experience in a well-established neighborhood. * * Key Features: * * * * New Roof: * * Enjoy peace of mind with a recently installed roof (December 2023), ensuring durability and added value for years to come (10-year warranty included). * * Spacious Living Area: * * This home boasts a bright and open floor plan with natural light pouring through large windows, creating a warm and welcoming atmosphere. Each bedroom is thoughtfully designed, featuring generous closet space and ample room for relaxation. * * Outdoor

Key facts

• Outdoor space
• Convenient location
• New roof

Tags

• NEW ROOF
• OUTDOOR SPACE
• CONVENIENT LOCATION

Property features AI

Finance

• Other: Ownership: Fee simple
• HOA & community: No master association fee required

Exterior

• Parking: Detached garage (1 garage space, 1 total parking space)
• Utilities: Water: Lake Michigan; Sewer: Public sewer
• Home design: Detached single-family home; One-story
• Construction: Brick construction; Built 71–80 years ago; Built before 1978
• Exterior features: Lot dimensions approximately 60 x 120

Interior

• Kitchen: Kitchen (main level)
• Bedrooms: Two bedrooms (both on the main level); Master bedroom on the main level
• Bathrooms: One full bathroom
• Heating & cooling: Natural gas heating; Central air conditioning
• Interior features: Four total rooms
• Laundry & utility: Main-level laundry room (8 x 11)

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $105k.

Deal economics

• At list price, monthly cash flow is $682 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $105k).
• Recommended offer: $92k (12.0% below list) — sets the bar for market timing.
• Cap rate 14.1% vs local median 9.5% 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: 106 active listings in the ZIP; 22 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 35% 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 $726 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 $29k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 240 days — a 12% lower offer ($92k) is reasonable based on typical stale-listing flexibility.
• 9 sale attempts since 20y ago; this cycle's ask has dropped $22k (17%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1952 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $92,400 (12.0% below list)

Questions for the listing agent

1. It's been on market 240 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 1952 — 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: 1.70% ✓
• Cap rate: 14.09%
• Cash-on-cash: 27.84%
• DSCR: 2.24
• GRM: 4.9

CMA / ARV

• ARV (on-the-fly): $134,758
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
209 Miami St	0.20mi	2/1.0	974 (+3%)	1mo	$108,000	$111	86
254 Blackhawk Dr	0.08mi	2/1.0	1,000 (+5%)	2mo	$105,000	$105	86
316 Mohawk St	0.29mi	2/1.0	949 (0%)	2mo	$141,000	$149	85
314 Seminole St	0.37mi	2/1.0	949 (0%)	1mo	$135,000	$142	82
318 Minocqua St	0.34mi	2/1.0	974 (+3%)	1mo	$145,000	$149	79
353 Miami St	0.47mi	2/1.0	949 (0%)	4mo	$112,000	$118	75
354 Marquette St	0.49mi	2/1.0	973 (+2%)	2mo	$131,000	$135	71
136 Peach St	0.53mi	2/1.0	974 (+3%)	3mo	$163,000	$167	68
310 Nassau St	0.60mi	3/1.0 (+1)	953 (+0%)	1mo	$129,000	$135	65
208 Miami St	0.20mi	3/1.5 (+1)	1,053 (+11%)	2mo	$175,000	$166	64
429 Natoma St	0.46mi	3/1.0 (+1)	1,035 (+9%)	0mo	$159,000	$154	58
314 Windsor St	0.53mi	3/1.0 (+1)	1,014 (+7%)	2mo	$141,000	$139	57

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: 22.0%
• Equity multiple: 1.90×
• Total profit: $26,461
• Equity at exit: $15,656

10-year hold

• IRR: 30.0%
• Equity multiple: 3.69×
• Total profit: $79,098
• Equity at exit: $9,078

Cash invested: $29,400 (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: 106
• Price-to-rent: 4.9×

Monthly cashflow live

• Estimated rent: $1,782 high
• Mortgage (P&I): −$551
• Tax est. 1.5%: −$131 /mo · $1,575/yr
• Insurance: −$44
• HOA: −$0
• Vacancy / Maint / Mgmt: −$374
• Net cashflow: $682

Break-even live

Break-even rent $919

Max offer price $105,000

Occupancy floor 57%

Sensitivity live

Price	-10% $755	-5% $718	+0% $682	+5% $646	+10% $610
Rent	-10% $541	-5% $612	+0% $682	+5% $753	+10% $823
Rate	-1.0pp $735	-0.5pp $709	base $682	+0.5pp $655	+1.0pp $627

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: $26,250
• Closing costs: $3,150
• Reserves months: —
• Total cash needed: —

Rent comps 22 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	0.22mi
277 Somonauk St Park Forest, IL	3.0	1.0	966	$2,000	$2.07	4d	1	0.34mi
194 Monee Rd Park Forest, IL	3.0	1.0	1092	$1,971	$1.80	23d	1	0.67mi
235 Tampa St Park Forest, IL	3.0	1.0	1092	$2,000	$1.83	25d	1	0.71mi
3484 Western Ave Unit 3484-B Park Forest, IL	1.0	1.0	600	$1,300	$2.17	0d	1	1.09mi
3905 Tower Dr Richton Park, IL	1.0–2.0	1.0–2.0	905	$1,795	$1.98	0d	19	1.15mi
3324 Western Ave Park Forest, IL	1.0–3.0	1.0	1026	$1,680	$1.64	0d	11	1.18mi
11 Fir St Park Forest, IL	1.0–3.0	1.0	1026	$1,669	$1.63	0d	1	1.21mi
4014 Euclid Ln Richton Park, IL	2.0	1.0	1100	$2,100	$1.91	8d	1	1.26mi
4014 Euclid Ln Richton Park, IL	3.0	1.0	1100	$2,100	$1.91	13d	1	1.26mi
4014 Euclid Ln Richton Park, IL	2.0	1.0	1100	$2,100	$1.91	23d	1	1.26mi
23439 Western Ave Unit C29 Park Forest, IL	2.0	2.0	975	$1,570	$1.61	0d	1	1.29mi
23439 Western Ave Unit K12 Park Forest, IL	1.0	1.0	800	$1,415	$1.77	0d	1	1.29mi
22501 Butterfield Rd Unit 22411-506 Richton Park, IL	2.0	1.0	882	$1,325	$1.50	8d	1	1.30mi
22501 Butterfield Rd Unit 22407-202 Richton Park, IL	1.0	1.0	667	$1,210	$1.81	8d	1	1.30mi
22501 Butterfield Rd Unit 22407-104 Richton Park, IL	1.0	1.0	621	$1,195	$1.92	8d	1	1.30mi
22501 Butterfield Rd Unit 22407-204 Richton Park, IL	2.0	1.0	837	$1,325	$1.58	0d	1	1.30mi
22501 Butterfield Rd Unit 22411-304 Richton Park, IL	1.0	1.0	688	$1,215	$1.77	8d	1	1.30mi
22501 Butterfield Rd Unit 22419-109 Richton Park, IL	2.0	1.0	798	$1,310	$1.64	8d	1	1.30mi
22501 Butterfield Rd Unit 22415-207 Richton Park, IL	2.0	1.5	944	$1,360	$1.44	8d	1	1.30mi
22501 Butterfield Rd Unit 22400-311 Richton Park, IL	2.0	1.0	882	$1,360	$1.54	8d	1	1.30mi
22501 Butterfield Rd Unit 22411-514 Richton Park, IL	2.0	1.5	1021	$1,365	$1.34	8d	1	1.30mi

Listing history 42 events

1. 2026-06-21
   days on market $105,000 Active 240 DOM
2. 2026-06-18
   days on market $105,000 Active 237 DOM
3. 2026-06-17
   days on market $105,000 Active 236 DOM
4. 2026-06-16
   days on market $105,000 Active 235 DOM
5. 2026-06-15
   days on market $105,000 Active 234 DOM
6. 2026-06-13
   days on market $105,000 Active 232 DOM
7. 2026-06-09
   days on market $105,000 Active 228 DOM
8. 2026-06-08
   days on market $105,000 Active 227 DOM
9. 2026-06-07
   days on market $105,000 Active 226 DOM
10. 2026-06-04
    days on market $105,000 Active 223 DOM
11. 2026-06-03
    days on market $105,000 Active 222 DOM
12. 2026-06-02
    days on market $105,000 Active 221 DOM
13. 2026-06-01
    days on market $105,000 Active 220 DOM
14. 2026-05-31
    days on market $105,000 Active 219 DOM
15. 2026-05-16
    price $105,000
16. 2026-03-13
    price $110,000
17. 2026-02-18
    price $117,000
18. 2026-01-12
    price $120,000
19. 2025-10-24
    historical
20. 2025-10-22
    listed $126,900 Active
21. 2025-08-17
    listed Active
22. 2025-08-09
    historical
23. 2025-07-12
    listed Active
24. 2025-04-07
    historical
25. 2025-02-09
    listed Active
26. 2022-11-14
    soldstatus $105,000
27. 2022-10-31
    soldstatus $104,900 Closed
28. 2022-06-23
    historical Contingent - Continue to Show
29. 2022-06-17
    listed $99,000 Active
30. 2018-12-06
    soldstatus $225,000
31. 2018-10-20
    historical
32. 2018-08-28
    listed New
33. 2015-09-15
    soldstatus $21,500 Closed Sale
34. 2015-08-13
    status Pending
35. 2015-07-25
    price $24,900
36. 2015-07-21
    status Reactivated
37. 2015-07-14
    status Pending
38. 2015-07-01
    listed $29,900 New
39. 2007-03-05
    historical
40. 2006-09-12
    listed
41. 2006-04-11
    soldstatus $105,000
42. 2001-01-08
    soldstatus $79,000

ⓘ 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 4/10 Moderate FEMA zone X (unshaded) · 22% 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: $21,384
• − Mortgage interest: −$5,882
• − Property taxes: −$1,575
• − Insurance: −$525
• − Repairs & maintenance: −$1,711
• − Management: −$1,711
• − Depreciation: −$3,055
• Taxable income: $6,927
• Est. tax owed @ 24.0%: −$1,662
• After-tax cash flow: $6,524/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

+32.9% since first listed

28 events — show timeline

• 2026-05-16 Price Changed $105,000 MRED as Distributed by MLS Grid
• 2026-03-13 Price Changed $110,000 MRED as Distributed by MLS Grid
• 2026-02-18 Price Changed $117,000 MRED as Distributed by MLS Grid
• 2026-01-12 Price Changed $120,000 MRED as Distributed by MLS Grid
• 2025-10-24 Listing Removed — MRED as Distributed by MLS Grid
• 2025-10-22 Listed $126,900 MRED as Distributed by MLS Grid
• 2025-08-17 Listed — MRED as Distributed by MLS Grid
• 2025-08-09 Listing Removed — MRED as Distributed by MLS Grid
• 2025-07-12 Listed — MRED as Distributed by MLS Grid
• 2025-04-07 Listing Removed — MRED as Distributed by MLS Grid
• 2025-02-09 Listed — MRED as Distributed by MLS Grid
• 2022-11-14 Sold (Public Records) $105,000 Public Records
• 2022-10-31 Sold (MLS) $104,900 MRED as Distributed by MLS Grid
• 2022-06-23 Contingent — MRED as Distributed by MLS Grid
• 2022-06-17 Listed $99,000 MRED as Distributed by MLS Grid
• 2018-12-06 Sold (Public Records) $225,000 Public Records
• 2018-10-20 Listing Removed — MRED as Distributed by MLS Grid
• 2018-08-28 Listed — MRED as Distributed by MLS Grid
• 2015-09-15 Sold (MLS) $21,500 MRED as Distributed by MLS Grid
• 2015-08-13 Pending — MRED as Distributed by MLS Grid
• 2015-07-25 Price Changed $24,900 MRED as Distributed by MLS Grid
• 2015-07-21 Relisted — MRED as Distributed by MLS Grid
• 2015-07-14 Pending — MRED as Distributed by MLS Grid
• 2015-07-01 Listed $29,900 MRED as Distributed by MLS Grid
• 2007-03-05 Listing Removed — MRED as Distributed by MLS Grid
• 2006-09-12 Listed — MRED as Distributed by MLS Grid
• 2006-04-11 Sold (Public Records) $105,000 Public Records
• 2001-01-08 Sold (Public Records) $79,000 Public Records

Property tax history

+5.7%/yr

Latest (2023): $8,052 · +73.6% YoY. Source: county tax records.