8 Waverly Ct · Park Forest, IL 60466

$169,900

3 bd · 1.5 ba · 1,645 sqft · SingleFamily public records · 15 Days on market

Built 1959 0.29 ac lot Est $204k · 17% under

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Why this score? — see what drove the C+ 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 +23.5/30.0
• ARV discount +15.0/15.0
• 1% rule +8.2/10.0
• DSCR +7.6/10.0
• 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

This well-maintained 4-bedroom, 1.5-bath ranch home offers a functional layout with plenty of room for everyday living. The home features an eat-in kitchen, a separate dining room, and both a living room and family room, providing flexible spaces for relaxing and entertaining. A screened porch extends the living area outdoors and offers the perfect spot to enjoy morning coffee or unwind in the evening. With 1,645 square feet of comfortable living space, this home combines practicality and charm in a layout that fits a variety of lifestyles.

Key facts

• 0.29 acre lot
• 2 parking spots
• Built 1959

Property features AI

Finance

• Other: Commuter bus and commuter train access
• HOA & community: No master association fee required

Exterior

• Parking: Two owned parking spaces
• Utilities: Public water; Public sewer; Public power
• Home design: Detached single-family home; One-story layout; Owned fee simple; Built prior to 1978 (age approx. 61–70 years)
• Construction: Vinyl siding and brick construction
• Exterior features: Vinyl siding and brick exterior; Sidewalks and street lights; Paved street; Lot approximately 0.25–0.49 acre

Interior

• Kitchen: Range; Dishwasher; Refrigerator; Freezer; Eating area / table space
• Bedrooms: 4 bedrooms (all on main level); Master bedroom with half bath
• Flooring: Hardwood in living and dining areas; Carpet in bedrooms and family room; Linoleum in kitchen
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Natural gas forced air heating; Central air conditioning
• Interior features: Screened porch; Separate dining room; 8 total rooms; Wood-burning fireplace in family room
• Laundry & utility: Washer; Dryer; Dedicated laundry room

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $170k.

Deal economics

• At list price, monthly cash flow is $316 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $170k).
• Recommended offer: $167k (1.5% below list) — sets the bar for market timing.

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; 18 comparable units currently listed for rent nearby; rentals at typical pace (median 22d 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 44% 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 $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 15 days — a 2% lower offer ($167k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $90k; list at $170k implies a 89% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 3.5% of price; built in 1959 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $167,351 (1.5% below list)

Questions for the listing agent

1. Built in 1959 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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: 1.32% ✓
• Cap rate: 8.53%
• Cash-on-cash: 7.98%
• DSCR: 1.36
• GRM: 6.3

CMA / ARV

• ARV (on-the-fly): $203,980
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
351 Waverly St	0.10mi	3/2.0	1,671 (+2%)	0mo	$149,000	$89	91
340 Sauk Trl	0.03mi	3/2.0	1,576 (-4%)	0mo	$180,000	$114	89
289 Westwood Dr	0.20mi	3/1.5	1,664 (+1%)	1mo	$95,102	$57	88
4 Lakewood Ct	0.13mi	4/2.0 (+1)	1,556 (-5%)	2mo	$205,000	$132	76
202 Wilson St	0.27mi	4/1.5 (+1)	1,772 (+8%)	1mo	$68,000	$38	69
356 Waverly St	0.15mi	3/2.0	1,419 (-14%)	2mo	$120,000	$85	67
354 Westgate Dr	0.33mi	3/1.5	1,470 (-11%)	2mo	$75,000	$51	66
109 Wilson St	0.46mi	3/2.0	1,525 (-7%)	1mo	$233,500	$153	64
22646 Lawndale Ave	0.62mi	3/2.0	1,705 (+4%)	3mo	$316,600	$186	60
339 Blackhawk Dr	0.30mi	3/2.0	1,417 (-14%)	1mo	$234,200	$165	60
409 Winnemac St	0.49mi	4/2.0 (+1)	1,736 (+6%)	3mo	$229,900	$132	59
287 Mohawk St	0.37mi	3/1.0	1,408 (-14%)	1mo	$175,000	$124	56

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: -4.0%
• Equity multiple: 0.85×
• Total profit: $-7,179
• Equity at exit: $25,333

10-year hold

• IRR: 5.8%
• Equity multiple: 1.43×
• Total profit: $20,522
• Equity at exit: $14,690

Cash invested: $47,572 (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: 6.3×

Monthly cashflow live

• Estimated rent: $2,238 high
• Mortgage (P&I): −$891
• Tax from tax record: −$490 /mo · $5,879/yr
• Insurance: −$71
• HOA: −$0
• Vacancy / Maint / Mgmt: −$470
• Net cashflow: $316

Break-even live

Break-even rent $1,838

Max offer price $169,900

Occupancy floor 81%

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: $42,475
• Closing costs: $5,097
• Reserves months: —
• Total cash needed: —

Rent comps 18 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	15d	1	0.44mi
411 Huron St Park Forest, IL	3.0	1.0	1092	$2,300	$2.11	24d	1	0.78mi
4014 Euclid Ln Richton Park, IL	2.0	1.0	1100	$2,100	$1.91	7d	1	0.78mi
4014 Euclid Ln Richton Park, IL	3.0	1.0	1100	$2,100	$1.91	12d	1	0.78mi
4014 Euclid Ln Richton Park, IL	2.0	1.0	1100	$2,100	$1.91	21d	1	0.78mi
372 Oswego St Park Forest, IL	4.0	1.0	1200	$2,600	$2.17	24d	1	0.83mi
111 Nashua St Park Forest, IL	4.0	1.5	1500	$2,500	$1.67	24d	1	1.04mi
490 Shabbona Dr Park Forest, IL	3.0	1.0	1300	$1,895	$1.46	2d	1	1.06mi
441 Talala St Park Forest, IL	4.0	2.0	1740	$2,500	$1.44	24d	1	1.09mi
4200 Arlington Dr Richton Park, IL	3.0	2.0	1595	$2,061	$1.29	19d	1	1.11mi
336 Oakwood St Park Forest, IL	3.0	2.0	2083	$2,800	$1.34	10d	1	1.16mi
3838 216th Pl Matteson, IL	2.0	2.0	1160	$1,996	$1.72	19d	1	1.17mi
3324 Western Ave Park Forest, IL	1.0–3.0	1.0	1026	$1,995	$1.94	1d	11	1.17mi
19 Apple Ln Park Forest, IL	3.0	1.0	1541	$2,300	$1.49	12d	1	1.17mi
194 Monee Rd Park Forest, IL	3.0	1.0	1092	$1,971	$1.80	21d	1	1.23mi
235 Tampa St Park Forest, IL	3.0	1.0	1092	$2,000	$1.83	24d	1	1.25mi
22015 E Churchill Dr Richton Park, IL	4.0	2.0	1200	$2,300	$1.92	24d	1	1.42mi
3538 212th Pl Matteson, IL	3.0	1.0	1209	$2,000	$1.65	24d	1	1.46mi

Listing history 9 events

1. 2026-06-18
   days on market $169,900 Active 15 DOM
2. 2026-06-17
   days on market $169,900 Active 14 DOM
3. 2026-06-16
   days on market $169,900 Active 13 DOM
4. 2026-06-15
   days on market $169,900 Active 12 DOM
5. 2026-06-13
   days on market $169,900 Active 10 DOM
6. 2026-06-09
   days on market $169,900 Active 6 DOM
7. 2026-06-08
   days on market $169,900 Active 5 DOM
8. 2026-06-07
   remarks 546-char remark
9. 2026-06-07
   listed $169,900 Active 4 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: $5,879 · $490/mo
• Projected year-2 tax: $5,879 · $490/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 ≥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: $26,856
• − Mortgage interest: −$9,517
• − Property taxes: −$5,879
• − Insurance: −$850
• − Repairs & maintenance: −$2,148
• − Management: −$2,148
• − Depreciation: −$4,943
• Taxable income: $1,371
• Est. tax owed @ 24.0%: −$329
• After-tax cash flow: $3,467/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

1 event — show timeline

• 1997-11-07 Sold (Public Records) $90,000 Public Records

Property tax history

+2.7%/yr

Latest (2023): $5,879 · +156.1% YoY. Source: county tax records.