16 W Rocket Cir · Park Forest, IL 60466

$140,000

3 bd · 1.5 ba · 1,422 sqft · SingleFamily public records · 2 Days on market

Built 1955 8,398 sqft lot Est $176k · 21% under

---

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 MLS

BEAUTIFUL 3 bedroom, 1.5 bath home located on a quiet street. ALL NEW SS APPLIANCES COME WITH HOME INCLUDING WASHER AND DRYER! Completely remodeled inside and out! Brand new siding and energy efficient windows. Open floor plan with new kitchen cabinets, backsplash, and gorgeous granite countertops. Recessed lighting and modern flooring, this house is a MUST SEE! Current taxes do not reflect homeowners exemption. Broker owned

Key facts

• 8,398 sq ft lot
• Garage
• Built 1955

Property features AI

Finance

• Other: Property provides commuter access; directions available
• HOA & community: No master association fee required

Exterior

• Parking: Attached garage (owned) with garage door opener; Approximately 1.5 garage/total parking spaces; Concrete driveway/parking
• Utilities: Lake Michigan water source; Public sewer; Electric with circuit breakers
• Home design: Detached single-family home; One-story layout; Fee simple ownership; Rehab completed in 2020; Commuter bus and commuter train nearby
• Construction: Built 71–80 years ago; Vinyl siding and brick exterior; Asphalt roof; Concrete perimeter foundation
• Exterior features: Mature trees; Neighborhood has parks, curbs, sidewalks, street lights and paved streets

Interior

• Kitchen: Kitchen with eating area, breakfast bar, island and pantry; Range; Microwave; Dishwasher; Refrigerator
• Bedrooms: Master bedroom on main level (14 x 12) with half bath and carpet; Bedroom on main level (14 x 12) with carpet; Bedroom on main level (12 x 12) with carpet
• Flooring: Carpet in bedrooms and master; Other flooring types not specified
• Bathrooms: One full bathroom; One half bathroom (in master)
• Heating & cooling: Natural gas forced air heating; Central air conditioning
• Interior features: Six total rooms; Dining area combined with living room; Eating area with breakfast bar, island and pantry
• Laundry & utility: Main level laundry (4 x 4); Washer; Dryer

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $140k.

Deal economics

• At list price, monthly cash flow is $743 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $140k).
• Cap rate 12.7% 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: 102 active listings in the ZIP; 19 comparable units currently listed for rent nearby; rentals leasing fast (median 13d 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 42% 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 $968 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 $39k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.
• 8 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.
• Current owner paid $120k; 17% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1955 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $140,000

Questions for the listing agent

1. Built in 1955 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 1.55% ✓
• Cap rate: 12.67%
• Cash-on-cash: 22.76%
• DSCR: 2.01
• GRM: 5.4

CMA / ARV

• ARV (on-the-fly): $176,328
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
287 Mohawk St	0.47mi	3/1.0	1,408 (-1%)	1mo	$175,000	$124	74
433 Lakewood Blvd	0.11mi	3/1.5	1,248 (-12%)	2mo	$165,000	$132	73
356 Waverly St	0.55mi	3/2.0	1,419 (-0%)	2mo	$120,000	$85	71
354 Westgate Dr	0.56mi	3/1.5	1,470 (+3%)	2mo	$75,000	$51	67
339 Blackhawk Dr	0.66mi	3/2.0	1,417 (-0%)	1mo	$234,200	$165	66
251 Westwood Dr	0.26mi	3/2.0	1,248 (-12%)	2mo	$217,000	$174	64
210 Marquette St	0.38mi	3/1.0	1,269 (-11%)	1mo	$153,000	$121	62
397 Oswego St	0.59mi	4/2.0 (+1)	1,398 (-2%)	2mo	$199,000	$142	60
340 Sauk Trl	0.43mi	3/2.0	1,576 (+11%)	1mo	$180,000	$114	59
109 Wilson St	0.63mi	3/2.0	1,525 (+7%)	1mo	$233,500	$153	56
356 Wilshire St	0.55mi	3/1.5	1,248 (-12%)	2mo	$50,000	$40	52
360 Niagara St	0.71mi	3/1.0	1,231 (-13%)	0mo	$150,000	$122	42

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: 15.7%
• Equity multiple: 1.63×
• Total profit: $24,699
• Equity at exit: $20,874

10-year hold

• IRR: 24.3%
• Equity multiple: 3.11×
• Total profit: $82,615
• Equity at exit: $12,105

Cash invested: $39,200 (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: 5.4×

Monthly cashflow live

• Estimated rent: $2,166 high
• Mortgage (P&I): −$734
• Tax est. 1.5%: −$175 /mo · $2,100/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$455
• Net cashflow: $743

Break-even live

Break-even rent $1,225

Max offer price $140,000

Occupancy floor 61%

Sensitivity live

Price	-10% $840	-5% $792	+0% $743	+5% $695	+10% $647
Rent	-10% $572	-5% $658	+0% $743	+5% $829	+10% $915
Rate	-1.0pp $814	-0.5pp $779	base $743	+0.5pp $707	+1.0pp $670

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: $35,000
• Closing costs: $4,200
• Reserves months: —
• Total cash needed: —

Rent comps 19 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
372 Oswego St Park Forest, IL	4.0	1.0	1200	$2,600	$2.17	25d	1	0.65mi
11 Fir St Park Forest, IL	1.0–3.0	1.0	1026	$2,069	$2.02	0d	1	0.68mi
400 Watseka St Park Forest, IL	4.0	2.0	1161	$2,161	$1.86	16d	1	0.70mi
3324 Western Ave Park Forest, IL	1.0–3.0	1.0	1026	$1,995	$1.94	0d	11	0.76mi
411 Huron St Park Forest, IL	3.0	1.0	1092	$2,200	$2.01	0d	1	0.81mi
19 Apple Ln Park Forest, IL	3.0	1.0	1541	$2,300	$1.49	13d	1	0.83mi
111 Nashua St Park Forest, IL	4.0	1.5	1500	$2,500	$1.67	25d	1	0.90mi
277 Somonauk St Park Forest, IL	3.0	1.0	966	$2,000	$2.07	4d	1	0.97mi
441 Talala St Park Forest, IL	4.0	2.0	1740	$2,500	$1.44	25d	1	1.13mi
4014 Euclid Ln Richton Park, IL	2.0	1.0	1100	$2,100	$1.91	22d	1	1.14mi
4014 Euclid Ln Richton Park, IL	3.0	1.0	1100	$2,100	$1.91	13d	1	1.14mi
4014 Euclid Ln Richton Park, IL	2.0	1.0	1100	$2,100	$1.91	8d	1	1.14mi
3905 Tower Dr Richton Park, IL	1.0–2.0	1.0–2.0	905	$1,795	$1.98	0d	19	1.16mi
490 Shabbona Dr Park Forest, IL	3.0	1.0	1300	$1,895	$1.46	3d	1	1.17mi
194 Monee Rd Park Forest, IL	3.0	1.0	1092	$1,971	$1.80	22d	1	1.22mi
235 Tampa St Park Forest, IL	3.0	1.0	1092	$2,000	$1.83	25d	1	1.33mi
631 Andover St Chicago Heights, IL	3.0	1.0	900	$1,450	$1.61	4d	1	1.33mi
23439 Western Ave Unit C29 Park Forest, IL	2.0	2.0	975	$1,570	$1.61	2d	1	1.34mi
3838 216th Pl Matteson, IL	2.0	2.0	1160	$1,996	$1.72	20d	1	1.45mi

Listing history 2 events

1. 2026-06-18
   days on market $140,000 Active 2 DOM
2. 2026-06-17
   listed $140,000 Active 1 DOM

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

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: $25,990
• − Mortgage interest: −$7,842
• − Property taxes: −$2,100
• − Insurance: −$700
• − Repairs & maintenance: −$2,079
• − Management: −$2,079
• − Depreciation: −$4,073
• Taxable income: $7,116
• Est. tax owed @ 24.0%: −$1,708
• After-tax cash flow: $7,214/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

+180.1% since first listed

26 events — show timeline

• 2026-06-16 Listed $140,000 MRED as Distributed by MLS Grid
• 2020-07-20 Sold (Public Records) $120,000 Public Records
• 2020-05-26 Sold (MLS) $119,900 MRED as Distributed by MLS Grid
• 2020-04-13 Pending — MRED as Distributed by MLS Grid
• 2020-04-01 Price Changed $119,900 MRED as Distributed by MLS Grid
• 2020-03-11 Price Changed $124,900 MRED as Distributed by MLS Grid
• 2020-02-28 Listed $127,900 MRED as Distributed by MLS Grid
• 2019-12-30 Sold (MLS) $33,000 MRED as Distributed by MLS Grid
• 2019-12-17 Pending — MRED as Distributed by MLS Grid
• 2019-11-11 Price Changed $44,900 MRED as Distributed by MLS Grid
• 2019-11-11 Relisted — MRED as Distributed by MLS Grid
• 2019-11-08 Listing Removed — MRED as Distributed by MLS Grid
• 2019-10-09 Price Changed $42,000 MRED as Distributed by MLS Grid
• 2019-08-14 Relisted — MRED as Distributed by MLS Grid
• 2019-08-09 Pending — MRED as Distributed by MLS Grid
• 2019-08-05 Listed $44,900 MRED as Distributed by MLS Grid
• 2019-07-14 Listing Removed — MRED as Distributed by MLS Grid
• 2019-05-15 Price Changed — MRED as Distributed by MLS Grid
• 2019-04-23 Price Changed — MRED as Distributed by MLS Grid
• 2019-03-25 Listed — MRED as Distributed by MLS Grid
• 2013-07-02 Sold (MLS) $39,000 MRED as Distributed by MLS Grid
• 2013-05-21 Contingent — MRED as Distributed by MLS Grid
• 2013-01-28 Price Changed $44,900 MRED as Distributed by MLS Grid
• 2012-08-02 Listing Removed — MRED as Distributed by MLS Grid
• 2012-07-28 Listed $49,990 MRED as Distributed by MLS Grid
• 2011-07-28 Listed — MRED as Distributed by MLS Grid

Property tax history

+13.8%/yr

Latest (2023): $9,516 · +21.2% YoY. Source: county tax records.