417 Lakewood Blvd · Park Forest, IL 60466

$147,000

3 bd · 1.0 ba · 1,248 sqft · SingleFamily public records · 101 Days on market

Built 1957 7,440 sqft lot Est $156k · 6% 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 +10.1/15.0
• DSCR +10.0/10.0
• 1% rule +9.5/10.0
• 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

Move in ready ranch featuring 3 bedrooms, 1 full bath, and an attached 1 car garage! Recent updates include a renovated bathroom, newer carpet, water heater, and fresh interior and exterior paint. The roof is approximately 10 years old, offering added peace of mind. This home is a great opportunity for first time buyers, downsizers, or investors seeking a strong rental property. Taxes currently reflect no exemptions and may be reduced with a homeowner exemption. Don't miss this well maintained and affordable home!

Key facts

• 7,440 sq ft lot
• Garage
• Built 1957

Property features AI

Finance

• HOA & community: No master association fees required

Exterior

• Parking: Attached garage (1 car); Concrete driveway/parking
• Utilities: Public water; Public sewer; Electric with circuit breaker panel
• Home design: Detached single-family home; One-story; Fee simple ownership; Built prior to 1978
• Construction: Frame construction; Rubber roof; Concrete perimeter foundation; Estimated 61–70 years old
• Exterior features: Patio

Interior

• Kitchen: Kitchen on main level (9 x 15, vinyl flooring)
• Bedrooms: Master bedroom on main level (10 x 10, carpet); Second bedroom on main level (8 x 11, carpet); Third bedroom on main level (9 x 10, carpet)
• Flooring: Carpet in living areas and bedrooms; Vinyl in kitchen and laundry
• Bathrooms: One full bathroom
• Heating & cooling: Natural gas forced-air heating; Wall-mounted cooling unit(s)
• Interior features: First-floor bedroom; First-floor full bathroom; Total of 5 rooms
• Laundry & utility: Main-level laundry room (8 x 12, vinyl flooring)

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $147k.

Deal economics

• At list price, monthly cash flow is $669 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $147k).
• Recommended offer: $134k (9.0% below list) — sets the bar for market timing.
• Cap rate 11.8% vs local median 9.7% in Park Forest — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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; 16 comparable units currently listed for rent nearby; rentals at typical pace (median 16d 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 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 $1k 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 $41k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 101 days — a 9% lower offer ($134k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 8y 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 $58k; list at $147k implies a 151% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1957 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $133,770 (9.0% below list)

Questions for the listing agent

1. It's been on market 101 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1957 — 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: 1.45% ✓
• Cap rate: 11.76%
• Cash-on-cash: 19.51%
• DSCR: 1.87
• GRM: 5.7

CMA / ARV

• ARV (on-the-fly): $156,000
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
433 Lakewood Blvd	0.10mi	3/1.5	1,248 (0%)	2mo	$165,000	$132	92
251 Westwood Dr	0.34mi	3/2.0	1,248 (0%)	2mo	$217,000	$174	78
210 Marquette St	0.49mi	3/1.0	1,269 (+2%)	0mo	$153,000	$121	74
356 Wilshire St	0.62mi	3/1.5	1,248 (0%)	2mo	$50,000	$40	67
131 Sauk Trl	0.51mi	3/1.0	1,148 (-8%)	2mo	$144,000	$125	61
308 Minocqua St	0.55mi	3/1.0	1,148 (-8%)	1mo	$139,000	$121	60
306 Winnebago St	0.49mi	3/2.0	1,088 (-13%)	3mo	$105,000	$97	50
287 Mohawk St	0.61mi	3/1.0	1,408 (+13%)	1mo	$175,000	$124	49
118 Well St	0.68mi	3/1.0	1,092 (-12%)	2mo	$177,000	$162	46
356 Waverly St	0.64mi	3/2.0	1,419 (+14%)	2mo	$120,000	$85	42
356 Winnebago St	0.72mi	3/2.0	1,088 (-13%)	1mo	$150,000	$138	40
397 Oswego St	0.70mi	4/2.0 (+1)	1,398 (+12%)	2mo	$199,000	$142	36

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: 11.5%
• Equity multiple: 1.46×
• Total profit: $18,840
• Equity at exit: $21,918

10-year hold

• IRR: 20.5%
• Equity multiple: 2.74×
• Total profit: $71,427
• Equity at exit: $12,710

Cash invested: $41,160 (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: 5.7×

Monthly cashflow live

• Estimated rent: $2,133 high
• Mortgage (P&I): −$771
• Tax est. 1.5%: −$184 /mo · $2,205/yr
• Insurance: −$61
• HOA: −$0
• Vacancy / Maint / Mgmt: −$448
• Net cashflow: $669

Break-even live

Break-even rent $1,286

Max offer price $147,000

Occupancy floor 64%

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: $36,750
• Closing costs: $4,410
• Reserves months: —
• Total cash needed: —

Rent comps 16 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	0.66mi
372 Oswego St Park Forest, IL	4.0	1.0	1200	$2,600	$2.17	24d	1	0.71mi
400 Watseka St Park Forest, IL	4.0	2.0	1161	$2,161	$1.86	16d	1	0.75mi
411 Huron St Park Forest, IL	3.0	1.0	1092	$2,300	$2.11	24d	1	0.91mi
111 Nashua St Park Forest, IL	4.0	1.5	1500	$2,500	$1.67	24d	1	0.97mi
277 Somonauk St Park Forest, IL	3.0	1.0	966	$2,000	$2.07	3d	1	1.09mi
4014 Euclid Ln Richton Park, IL	3.0	1.0	1100	$2,100	$1.91	12d	1	1.21mi
4014 Euclid Ln Richton Park, IL	2.0	1.0	1100	$2,100	$1.91	7d	1	1.21mi
4014 Euclid Ln Richton Park, IL	2.0	1.0	1100	$2,100	$1.91	22d	1	1.21mi
631 Andover St Chicago Heights, IL	3.0	1.0	900	$1,450	$1.61	3d	1	1.21mi
3905 Tower Dr Richton Park, IL	1.0–2.0	1.0–2.0	905	$1,795	$1.98	1d	19	1.24mi
490 Shabbona Dr Park Forest, IL	3.0	1.0	1300	$1,895	$1.46	2d	1	1.28mi
194 Monee Rd Park Forest, IL	3.0	1.0	1092	$1,971	$1.80	22d	1	1.31mi
23439 Western Ave Unit C29 Park Forest, IL	2.0	2.0	975	$1,570	$1.61	1d	1	1.32mi
235 Tampa St Park Forest, IL	3.0	1.0	1092	$2,000	$1.83	24d	1	1.43mi
3838 216th Pl Matteson, IL	2.0	2.0	1160	$1,996	$1.72	19d	1	1.48mi

Listing history 27 events

1. 2026-06-18
   days on market $147,000 Active 101 DOM
2. 2026-06-17
   days on market $147,000 Active 100 DOM
3. 2026-06-16
   days on market $147,000 Active 99 DOM
4. 2026-06-15
   days on market $147,000 Active 98 DOM
5. 2026-06-13
   days on market $147,000 Active 96 DOM
6. 2026-06-09
   days on market $147,000 Active 92 DOM
7. 2026-06-08
   days on market $147,000 Active 91 DOM
8. 2026-06-07
   days on market $147,000 Active 90 DOM
9. 2026-06-04
   days on market $147,000 Active 87 DOM
10. 2026-06-03
    days on market $147,000 Active 86 DOM
11. 2026-06-02
    days on market $147,000 Active 85 DOM
12. 2026-06-01
    days on market $147,000 Active 84 DOM
13. 2026-05-31
    days on market $147,000 Active 83 DOM
14. 2026-04-17
    price $147,000
15. 2026-03-09
    listed $149,000 Active
16. 2026-03-08
    historical
17. 2025-10-14
    price
18. 2025-09-11
    listed Active
19. 2018-12-16
    historical
20. 2018-09-27
    price
21. 2018-08-27
    price
22. 2018-07-26
    price
23. 2018-05-01
    price
24. 2018-04-17
    listed New
25. 1992-06-24
    soldstatus $58,500
26. 1984-08-01
    soldstatus $49,000
27. 1978-03-27
    soldstatus $37,000

ⓘ 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 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: $25,598
• − Mortgage interest: −$8,234
• − Property taxes: −$2,205
• − Insurance: −$735
• − Repairs & maintenance: −$2,048
• − Management: −$2,048
• − Depreciation: −$4,276
• Taxable income: $6,052
• Est. tax owed @ 24.0%: −$1,452
• After-tax cash flow: $6,579/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

+297.3% since first listed

14 events — show timeline

• 2026-04-17 Price Changed $147,000 MRED as Distributed by MLS Grid
• 2026-03-09 Listed $149,000 MRED as Distributed by MLS Grid
• 2026-03-08 Listing Removed — MRED as Distributed by MLS Grid
• 2025-10-14 Price Changed — MRED as Distributed by MLS Grid
• 2025-09-11 Listed — MRED as Distributed by MLS Grid
• 2018-12-16 Listing Removed — MRED as Distributed by MLS Grid
• 2018-09-27 Price Changed — MRED as Distributed by MLS Grid
• 2018-08-27 Price Changed — MRED as Distributed by MLS Grid
• 2018-07-26 Price Changed — MRED as Distributed by MLS Grid
• 2018-05-01 Price Changed — MRED as Distributed by MLS Grid
• 2018-04-17 Listed — MRED as Distributed by MLS Grid
• 1992-06-24 Sold (Public Records) $58,500 Public Records
• 1984-08-01 Sold (Public Records) $49,000 Public Records
• 1978-03-27 Sold (Public Records) $37,000 Public Records

Property tax history

+5.7%/yr

Latest (2023): $8,824 · +32.2% YoY. Source: county tax records.