145 Elm St · Park Forest, IL 60466

$68,500

3 bd · 1.0 ba · 1,200 sqft · Townhouse · 16 Days on market

Built 1948 Est $74k · 8% under $683/mo HOA · 33% of rent

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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 +11.1/15.0
• 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

Key facts

• Large windows
• Bright open layout
• Generous storage

Tags

• GENEROUS STORAGE
• BRIGHT OPEN LAYOUT
• ABUNDANCE OF NATURAL SUNLIGHT
• LARGE WINDOWS
• UPDATED KITCHEN
• AMPLE CABINET SPACE

Property features AI

Finance

• Other: Part of an 8-unit building; Parcel number available
• Financial info: Special service area: No; Tax year listed: 2025; Tax exemptions: Other
• HOA & community: Monthly association fee of $683; Association fee includes parking, insurance, exterior maintenance, lawn care, and scavenger service; No pets allowed

Exterior

• Parking: 145 total parking spaces; Assigned parking
• Utilities: Water from Lake Michigan / public water; Public sewer; Electric service available
• Home design: Attached single property; Townhouse — 2 story; Entry level is 1; Co-op ownership; Rehab completed in 2020; Estimated living area; Built 71–80 years ago; Built before 1978
• Construction: Brick construction
• Exterior features: Located in Park Forest (Rich Township); Directions: Western Avenue to Elm, right on Elm

Interior

• Kitchen: Kitchen on the main level (11 x 11)
• Bedrooms: Three bedrooms (master bedroom on the second level, two additional bedrooms on the second level: 11 x 9 and 9 x 9); One bedroom listed without dimensions
• Bathrooms: One full bathroom
• Heating & cooling: Natural gas heating; Central air conditioning
• Interior features: Six total rooms; Unfinished full basement
• Laundry & utility: Basement laundry (5 x 6)

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath townhouse listed at $68k.

Deal economics

• At list price, monthly cash flow is $476 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $68k).
• Recommended offer: $67k (1.5% below list) — sets the bar for market timing.
• Cap rate 14.6% 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; 12 comparable units currently listed for rent nearby; rentals at typical pace (median 17d 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 40% 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 $474 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $19k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 16 days — a 2% lower offer ($67k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 15y 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.

Risks & watch-outs

• Watch-outs: HOA is 33% of rent; built in 1948 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $67,472 (1.5% below list)

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: 3.02% ✓
• Cap rate: 14.63%
• Cash-on-cash: 29.77%
• DSCR: 2.32
• GRM: 2.8

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
215 Krotiak Rd	0.21mi	2/1.0 (-1)	1,218 (+2%)	11mo	$45,000	$37	73
291 Dogwood St	0.50mi	3/1.0	1,200 (0%)	12mo	$47,000	$39	66
29 Cunningham Ln	0.34mi	2/2.0 (-1)	1,094 (-9%)	5mo	$141,000	$129	56
17 Michael Rd	0.59mi	2/1.0 (-1)	1,200 (0%)	18mo	$52,000	$43	52
307 Dogwood St	0.50mi	2/1.0 (-1)	1,200 (0%)	24mo	$74,000	$62	52
11 Michael Rd	0.49mi	2/1.0 (-1)	1,100 (-8%)	9mo	$50,000	$45	51
6 Mccarthy Rd #6	0.73mi	2/1.0 (-1)	1,200 (0%)	12mo	$85,000	$71	51
43 Indianwood Blvd	0.52mi	2/1.0 (-1)	1,100 (-8%)	8mo	$83,000	$75	51
3414 Western Ave Unit 15-5	0.60mi	2/1.5 (-1)	1,200 (0%)	20mo	$85,000	$71	49
47 Dogwood St	0.24mi	3/1.0	1,044 (-13%)	22mo	$28,000	$27	48

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: 24.7%
• Equity multiple: 2.02×
• Total profit: $19,656
• Equity at exit: $10,214

10-year hold

• IRR: 32.7%
• Equity multiple: 4.02×
• Total profit: $57,971
• Equity at exit: $5,923

Cash invested: $19,180 (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: 2.8×

Monthly cashflow live

• Estimated rent: $2,066 high
• Mortgage (P&I): −$359
• Tax est. 1.5%: −$86 /mo · $1,028/yr
• Insurance: −$29
• HOA: −$683
• Vacancy / Maint / Mgmt: −$434
• Net cashflow: $476

Break-even live

Break-even rent $1,464

Max offer price $68,500

Occupancy floor 72%

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: $17,125
• Closing costs: $2,055
• Reserves months: —
• Total cash needed: —

Rent comps 12 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3324 Western Ave Park Forest, IL	1.0–3.0	1.0	1026	$1,995	$1.94	1d	11	0.42mi
631 Andover St Chicago Heights, IL	3.0	1.0	900	$1,450	$1.61	4d	1	0.71mi
372 Oswego St Park Forest, IL	4.0	1.0	1200	$2,600	$2.17	25d	1	1.11mi
444 Hickory St Unit 2A Chicago Heights, IL	3.0	1.0	900	$1,695	$1.88	1d	1	1.11mi
436 W Hickory St Unit Na Chicago Heights, IL	3.0	1.0	1091	$1,800	$1.65	1d	1	1.12mi
432 Hickory St Unit 2 Chicago Heights, IL	3.0	1.0	1200	$1,800	$1.50	21d	1	1.13mi
400 Watseka St Park Forest, IL	4.0	2.0	1161	$2,161	$1.86	16d	1	1.18mi
417 W Hickory St Unit 2 Chicago Heights, IL	3.0	1.0	900	$1,800	$2.00	21d	1	1.19mi
370 E 17th St Chicago Heights, IL	3.0	1.0	1058	$2,600	$2.46	17d	1	1.31mi
111 Nashua St Park Forest, IL	4.0	1.5	1500	$2,500	$1.67	25d	1	1.34mi
23439 Western Ave Unit C29 Park Forest, IL	2.0	2.0	975	$1,570	$1.61	1d	1	1.36mi
411 Huron St Park Forest, IL	3.0	1.0	1092	$2,300	$2.11	25d	1	1.43mi

HOA detail

• Monthly dues: $683 · $8,196/yr

Listing history 10 events

1. 2026-06-18
   days on market $68,500 Active 16 DOM
2. 2026-06-17
   days on market $68,500 Active 15 DOM
3. 2026-06-16
   days on market $68,500 Active 14 DOM
4. 2026-06-15
   days on market $68,500 Active 13 DOM
5. 2026-06-13
   days on market $68,500 Active 11 DOM
6. 2026-06-09
   days on market $68,500 Active 7 DOM
7. 2026-06-08
   days on market $68,500 Active 6 DOM
8. 2026-06-07
   days on market $68,500 Active 5 DOM
9. 2026-06-04
   days on market $68,500 Active 2 DOM
10. 2026-06-03
    listed $68,500 Active 1 DOM

ⓘ 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 6/10 Major FEMA zone X (unshaded) · 72% 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: $24,793
• − Mortgage interest: −$3,837
• − Property taxes: −$1,028
• − Insurance: −$342
• − Repairs & maintenance: −$1,983
• − Management: −$1,983
• − HOA: −$8,196
• − Depreciation: −$1,993
• Taxable income: $5,430
• Est. tax owed @ 24.0%: −$1,303
• After-tax cash flow: $4,407/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

9 events — show timeline

• 2026-06-02 Listed $68,500 MRED as Distributed by MLS Grid
• 2019-12-06 Listing Removed — MRED as Distributed by MLS Grid
• 2019-10-14 Price Changed — MRED as Distributed by MLS Grid
• 2019-06-06 Listed — MRED as Distributed by MLS Grid
• 2011-06-02 Listing Removed — MRED as Distributed by MLS Grid
• 2011-04-04 Listed — MRED as Distributed by MLS Grid
• 2011-03-31 Listing Removed — MRED as Distributed by MLS Grid
• 2011-02-06 Price Changed — MRED as Distributed by MLS Grid
• 2011-02-05 Listed — MRED as Distributed by MLS Grid