216 Washington St · Park Forest, IL 60466

$124,999

3 bd · 1.5 ba · 1,349 sqft · SingleFamily public records · 366 Days on market

Built 1955 Est $178k · 30% under ↓ 43% since listing

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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

Very nice two story cape cod in Park Forest. Located on a quiet street, this renovated 4-bedroom, 2-bathroom home offers modern comfort and style. Interior has generous room sizes and plenty of natural light. New carpet and kitchen flooring. Two fully updated bathrooms, an attached garage, plenty of off street parking and a one car garage. The home also has a large back yard. Very close to schools, Metra station and shopping. Sold As Is. See this one today and make it yours!

Key facts

• Renovated home
• New carpet
• Natural light

Tags

• TWO STORY CAPE COD
• RENOVATED HOME
• NATURAL LIGHT
• NEW CARPET
• NEW KITCHEN FLOORING
• NEW KITCHEN APPLIANCES

Property features AI

Finance

• Other: Property listed by Basis Real Estate Group
• HOA & community: No master association fee required

Exterior

• Parking: Attached garage (1 garage space, 1 total parking)
• Utilities: Public water; Public sewer
• Home design: Detached single-family home; Two-story; Fee simple ownership; Rehab completed in 2025; Built before 1978
• Construction: Aluminum siding; Estimated age 71–80 years
• Exterior features: Lot smaller than 0.25 acre; Lot dimensions: 7,200

Interior

• Kitchen: Kitchen (18 x 10)
• Bedrooms: Four bedrooms total; Main-level bedrooms: two bedrooms (12 x 10; 11 x 8); Second-level bedrooms: master bedroom (17 x 14) and one bedroom (14 x 10)
• Bathrooms: Two full bathrooms
• Heating & cooling: Natural gas heating
• Interior features: Seven total rooms; Dining room (combo); Family room; Living room
• Laundry & utility: Laundry room

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $125k.

Deal economics

• At list price, monthly cash flow is $778 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $125k).
• Recommended offer: $110k (12.0% below list) — sets the bar for market timing.
• Cap rate 13.8% 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: 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.
• Zoned schools: Michelle Obama Sch of Technology (484 students, 0% FRL).
• Market conditions: 106 active listings in the ZIP; 22 comparable units currently listed for rent nearby; rentals leasing fast (median 9d 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 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 $864 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 $35k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 366 days — a 12% lower offer ($110k) is reasonable based on typical stale-listing flexibility.
• 10 sale attempts; this cycle's ask has dropped $95k (43%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

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

Recommended offer $109,999 (12.0% below list)

Questions for the listing agent

1. It's been on market 366 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 1955 — 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: 1.66% ✓
• Cap rate: 13.76%
• Cash-on-cash: 26.67%
• DSCR: 2.19
• GRM: 5.0

CMA / ARV

• ARV (on-the-fly): $178,068
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
356 Waverly St	0.22mi	3/2.0	1,419 (+5%)	2mo	$120,000	$85	78
358 Waverly St	0.21mi	3/2.0	1,419 (+5%)	3mo	$57,000	$40	77
356 Wilshire St	0.22mi	3/1.5	1,248 (-8%)	2mo	$50,000	$40	75
506 Wildwood Dr	0.10mi	3/1.5	1,170 (-13%)	3mo	$160,000	$137	71
354 Westgate Dr	0.29mi	3/1.5	1,470 (+9%)	2mo	$75,000	$51	70
339 Blackhawk Dr	0.48mi	3/2.0	1,417 (+5%)	1mo	$234,200	$165	66
251 Westwood Dr	0.50mi	3/2.0	1,248 (-8%)	2mo	$217,000	$174	60
109 Wilson St	0.38mi	3/2.0	1,525 (+13%)	1mo	$233,500	$153	58
287 Mohawk St	0.70mi	3/1.0	1,408 (+4%)	1mo	$175,000	$124	57
3435 218 Pl	0.39mi	3/1.5	1,154 (-14%)	2mo	$183,000	$159	56
433 Lakewood Blvd	0.74mi	3/1.5	1,248 (-8%)	2mo	$165,000	$132	51
308 Minocqua St	0.59mi	3/1.0	1,148 (-15%)	1mo	$139,000	$121	44

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: 20.5%
• Equity multiple: 1.84×
• Total profit: $29,326
• Equity at exit: $18,638

10-year hold

• IRR: 28.7%
• Equity multiple: 3.56×
• Total profit: $89,467
• Equity at exit: $10,808

Cash invested: $35,000 (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: 5.0×

Monthly cashflow live

• Estimated rent: $2,078 high
• Mortgage (P&I): −$656
• Tax est. 1.5%: −$156 /mo · $1,875/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$436
• Net cashflow: $778

Break-even live

Break-even rent $1,093

Max offer price $124,999

Occupancy floor 58%

Sensitivity live

Price	-10% $864	-5% $821	+0% $778	+5% $735	+10% $692
Rent	-10% $614	-5% $696	+0% $778	+5% $860	+10% $942
Rate	-1.0pp $841	-0.5pp $810	base $778	+0.5pp $746	+1.0pp $713

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: $31,250
• Closing costs: $3,750
• Reserves months: —
• Total cash needed: —

Rent comps 22 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
400 Watseka St Park Forest, IL	4.0	2.0	1161	$2,161	$1.86	17d	1	0.19mi
4014 Euclid Ln Richton Park, IL	2.0	1.0	1100	$2,100	$1.91	23d	1	0.41mi
4014 Euclid Ln Richton Park, IL	3.0	1.0	1100	$2,100	$1.91	14d	1	0.41mi
4014 Euclid Ln Richton Park, IL	2.0	1.0	1100	$2,100	$1.91	8d	1	0.41mi
3905 Tower Dr Richton Park, IL	1.0–2.0	1.0–2.0	905	$1,795	$1.98	0d	19	0.45mi
3838 216th Pl Matteson, IL	2.0	2.0	1160	$1,996	$1.72	21d	1	0.79mi
4200 Arlington Dr Richton Park, IL	3.0	2.0	1595	$2,061	$1.29	21d	1	0.84mi
22501 Butterfield Rd Unit 22411-514 Richton Park, IL	2.0	1.5	1021	$1,365	$1.34	8d	1	0.90mi
22501 Butterfield Rd Unit 22415-207 Richton Park, IL	2.0	1.5	944	$1,360	$1.44	8d	1	0.90mi
22501 Butterfield Rd Unit 22400-311 Richton Park, IL	2.0	1.0	882	$1,360	$1.54	8d	1	0.90mi
22501 Butterfield Rd Unit 22411-506 Richton Park, IL	2.0	1.0	882	$1,325	$1.50	8d	1	0.90mi
4020 216th St Unit 2E Matteson, IL	3.0	1.0	1000	$2,000	$2.00	0d	1	0.95mi
22015 E Churchill Dr Richton Park, IL	4.0	2.0	1200	$2,300	$1.92	26d	1	1.10mi
411 Huron St Park Forest, IL	3.0	1.0	1092	$2,200	$2.01	0d	1	1.11mi
277 Somonauk St Park Forest, IL	3.0	1.0	966	$2,000	$2.07	4d	1	1.14mi
3538 212th Pl Matteson, IL	3.0	1.0	1209	$2,000	$1.65	26d	1	1.15mi
372 Oswego St Park Forest, IL	4.0	1.0	1200	$2,600	$2.17	26d	1	1.21mi
11 Fir St Park Forest, IL	1.0–3.0	1.0	1026	$2,069	$2.02	0d	1	1.33mi
490 Shabbona Dr Park Forest, IL	3.0	1.0	1300	$1,895	$1.46	4d	1	1.34mi
111 Nashua St Park Forest, IL	4.0	1.5	1500	$2,500	$1.67	26d	1	1.41mi
441 Talala St Park Forest, IL	4.0	2.0	1740	$2,500	$1.44	26d	1	1.41mi
3324 Western Ave Park Forest, IL	1.0–3.0	1.0	1026	$1,995	$1.94	0d	11	1.47mi

Listing history 39 events

1. 2026-06-21
   statusdays on market $124,999 Contingent - Continue to Show 366 DOM
2. 2026-06-18
   days on market $124,999 Active 363 DOM
3. 2026-06-17
   days on market $124,999 Active 362 DOM
4. 2026-06-16
   days on market $124,999 Active 361 DOM
5. 2026-06-15
   days on market $124,999 Active 360 DOM
6. 2026-06-13
   days on market $124,999 Active 358 DOM
7. 2026-06-09
   days on market $124,999 Active 354 DOM
8. 2026-06-08
   days on market $124,999 Active 353 DOM
9. 2026-06-07
   days on market $124,999 Active 352 DOM
10. 2026-06-04
    days on market $124,999 Active 349 DOM
11. 2026-06-03
    days on market $124,999 Active 348 DOM
12. 2026-06-02
    days on market $124,999 Active 347 DOM
13. 2026-06-01
    days on market $124,999 Active 346 DOM
14. 2026-05-31
    days on market $124,999 Active 345 DOM
15. 2026-05-20
    status Active
16. 2026-05-19
    historical Contingent - Continue to Show
17. 2026-05-19
    status Active
18. 2026-05-18
    historical
19. 2026-05-01
    status Active
20. 2026-04-30
    historical
21. 2026-04-24
    price $124,999
22. 2026-04-02
    price $129,999
23. 2026-03-23
    status Active
24. 2026-03-16
    historical
25. 2026-02-24
    status Active
26. 2026-02-23
    historical
27. 2026-01-16
    status Active
28. 2026-01-12
    historical
29. 2025-12-03
    price $149,999
30. 2025-10-17
    status Active
31. 2025-10-15
    historical
32. 2025-09-12
    price $169,999
33. 2025-08-21
    status Active
34. 2025-07-28
    historical
35. 2025-07-24
    price $189,900
36. 2025-06-06
    price $199,999
37. 2025-05-12
    listed $219,999 Active
38. 2025-05-12
    historical
39. 2025-05-12
    listed Active

ⓘ 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: $24,939
• − Mortgage interest: −$7,002
• − Property taxes: −$1,875
• − Insurance: −$625
• − Repairs & maintenance: −$1,995
• − Management: −$1,995
• − Depreciation: −$3,636
• Taxable income: $7,811
• Est. tax owed @ 24.0%: −$1,875
• After-tax cash flow: $7,461/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

-43.2% since first listed

25 events — show timeline

• 2026-05-20 Relisted — MRED as Distributed by MLS Grid
• 2026-05-19 Contingent — MRED as Distributed by MLS Grid
• 2026-05-19 Relisted — MRED as Distributed by MLS Grid
• 2026-05-18 Listing Removed — MRED as Distributed by MLS Grid
• 2026-05-01 Relisted — MRED as Distributed by MLS Grid
• 2026-04-30 Listing Removed — MRED as Distributed by MLS Grid
• 2026-04-24 Price Changed $124,999 MRED as Distributed by MLS Grid
• 2026-04-02 Price Changed $129,999 MRED as Distributed by MLS Grid
• 2026-03-23 Relisted — MRED as Distributed by MLS Grid
• 2026-03-16 Listing Removed — MRED as Distributed by MLS Grid
• 2026-02-24 Relisted — MRED as Distributed by MLS Grid
• 2026-02-23 Listing Removed — MRED as Distributed by MLS Grid
• 2026-01-16 Relisted — MRED as Distributed by MLS Grid
• 2026-01-12 Listing Removed — MRED as Distributed by MLS Grid
• 2025-12-03 Price Changed $149,999 MRED as Distributed by MLS Grid
• 2025-10-17 Relisted — MRED as Distributed by MLS Grid
• 2025-10-15 Listing Removed — MRED as Distributed by MLS Grid
• 2025-09-12 Price Changed $169,999 MRED as Distributed by MLS Grid
• 2025-08-21 Relisted — MRED as Distributed by MLS Grid
• 2025-07-28 Listing Removed — MRED as Distributed by MLS Grid
• 2025-07-24 Price Changed $189,900 MRED as Distributed by MLS Grid
• 2025-06-06 Price Changed $199,999 MRED as Distributed by MLS Grid
• 2025-05-12 Listed — MRED as Distributed by MLS Grid
• 2025-05-12 Listing Removed — MRED as Distributed by MLS Grid
• 2025-05-12 Listed $219,999 MRED as Distributed by MLS Grid

Property tax history

+17.0%/yr

Latest (2023): $7,320 · -7.1% YoY. Source: county tax records.