239 Indianwood Blvd · Park Forest, IL 60466

$156,000

2 bd · 1.0 ba · 949 sqft · SingleFamily public records · 68 Days on market

Built 1951 7,200 sqft lot Est $128k · 22% over

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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 +25.4/30.0
• DSCR +8.4/10.0
• 1% rule +6.7/10.0
• Livability +3.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +0.9/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

South Suburban Land Bank Property. Bring your ideas and creativity to this 2 bed 1 bath home. one-car garage, Ideal for an investor or owner occupant. Being sold as is, no survey will be provided. Buyer responsible for ALL village requirements. Come see today!

Key facts

• Fully renovated
• New furnace
• Fresh paint

Tags

• FULLY RENOVATED
• UPDATED FLOORING
• NEW CENTRAL AIR UNIT
• RECESSED LIGHTING
• NEW FURNACE
• FRESH PAINT

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $156k.

Deal economics

• At list price, monthly cash flow is $360 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $156k).
• Recommended offer: $147k (6.0% 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; 13 comparable units currently listed for rent nearby; rentals leasing fast (median 4d 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 35% 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 68 days — a 6% lower offer ($147k) is reasonable based on typical stale-listing flexibility.
• 9 sale attempts since 15y ago; this cycle's ask is 247% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $42k; list at $156k implies a 271% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1951 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $146,640 (6.0% below list)

Questions for the listing agent

1. It's been on market 68 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1951 — 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: 1.17% ✓
• Cap rate: 9.06%
• Cash-on-cash: 9.89%
• DSCR: 1.44
• GRM: 7.1

CMA / ARV

• ARV (on-the-fly): $128,115
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
136 Peach St	0.04mi	2/1.0	974 (+3%)	3mo	$163,000	$167	91
223 S Orchard Dr	0.26mi	2/1.0	949 (0%)	0mo	$105,000	$111	88
310 Nassau St	0.27mi	3/1.0 (+1)	953 (+0%)	1mo	$129,000	$135	81
316 Mohawk St	0.55mi	2/1.0	949 (0%)	2mo	$141,000	$149	73
209 Miami St	0.50mi	2/1.0	974 (+3%)	1mo	$108,000	$111	72
318 Minocqua St	0.53mi	2/1.0	974 (+3%)	1mo	$145,000	$149	70
354 Marquette St	0.66mi	2/1.0	973 (+2%)	2mo	$131,000	$135	63
353 Miami St	0.73mi	2/1.0	949 (0%)	4mo	$112,000	$118	63
254 Blackhawk Dr	0.61mi	2/1.0	1,000 (+5%)	2mo	$105,000	$105	61
252 Blackhawk Dr	0.60mi	2/1.0	1,000 (+5%)	4mo	$104,000	$104	60
314 Windsor St	0.58mi	3/1.0 (+1)	1,014 (+7%)	2mo	$141,000	$139	55
208 Miami St	0.47mi	3/1.5 (+1)	1,053 (+11%)	2mo	$175,000	$166	51

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: -1.4%
• Equity multiple: 0.95×
• Total profit: $-2,316
• Equity at exit: $23,260

10-year hold

• IRR: 8.3%
• Equity multiple: 1.63×
• Total profit: $27,627
• Equity at exit: $13,488

Cash invested: $43,680 (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: 7.1×

Monthly cashflow live

• Estimated rent: $1,820 high
• Mortgage (P&I): −$818
• Tax est. 1.5%: −$195 /mo · $2,340/yr
• Insurance: −$65
• HOA: −$0
• Vacancy / Maint / Mgmt: −$382
• Net cashflow: $360

Break-even live

Break-even rent $1,365

Max offer price $156,000

Occupancy floor 75%

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: $39,000
• Closing costs: $4,680
• Reserves months: —
• Total cash needed: —

Rent comps 13 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3484 Western Ave Unit 3484-B Park Forest, IL	1.0	1.0	600	$1,300	$2.17	1d	1	0.58mi
3324 Western Ave Park Forest, IL	1.0–3.0	1.0	1026	$1,680	$1.64	1d	11	0.64mi
411 Huron St Park Forest, IL	3.0	1.0	1092	$2,300	$2.11	24d	1	0.65mi
277 Somonauk St Park Forest, IL	3.0	1.0	966	$2,000	$2.07	3d	1	0.86mi
194 Monee Rd Park Forest, IL	3.0	1.0	1092	$1,971	$1.80	22d	1	0.99mi
23439 Western Ave Unit K12 Park Forest, IL	1.0	1.0	800	$1,415	$1.77	1d	1	1.03mi
23439 Western Ave Unit C29 Park Forest, IL	2.0	2.0	975	$1,570	$1.61	1d	1	1.03mi
235 Tampa St Park Forest, IL	3.0	1.0	1092	$2,000	$1.83	24d	1	1.14mi
3905 Tower Dr Richton Park, IL	1.0–2.0	1.0–2.0	905	$1,795	$1.98	1d	19	1.39mi
4014 Euclid Ln Richton Park, IL	3.0	1.0	1100	$2,100	$1.91	12d	1	1.41mi
4014 Euclid Ln Richton Park, IL	2.0	1.0	1100	$2,100	$1.91	22d	1	1.41mi
4014 Euclid Ln Richton Park, IL	2.0	1.0	1100	$2,100	$1.91	7d	1	1.41mi
631 Andover St Chicago Heights, IL	3.0	1.0	900	$1,450	$1.61	4d	1	1.47mi

Listing history 26 events

1. 2026-04-27
   status Pending
2. 2026-04-13
   price $156,000
3. 2026-03-16
   price $162,500
4. 2024-04-26
   soldstatus $42,000 Closed 261-char remark

   Show marketing remark (261 chars)

   South Suburban Land Bank Property. Bring your ideas and creativity to this 2 bed 1 bath home. one-car garage, Ideal for an investor or owner occupant. Being sold as is, no survey will be provided. Buyer responsible for ALL village requirements. Come see today!

5. 2024-02-27
   historical Contingent - Continue to Show 261-char remark

   Show marketing remark (261 chars)

   South Suburban Land Bank Property. Bring your ideas and creativity to this 2 bed 1 bath home. one-car garage, Ideal for an investor or owner occupant. Being sold as is, no survey will be provided. Buyer responsible for ALL village requirements. Come see today!

6. 2024-02-12
   status Active 261-char remark

   Show marketing remark (261 chars)

   South Suburban Land Bank Property. Bring your ideas and creativity to this 2 bed 1 bath home. one-car garage, Ideal for an investor or owner occupant. Being sold as is, no survey will be provided. Buyer responsible for ALL village requirements. Come see today!

7. 2024-02-06
   historical Contingent - Continue to Show 261-char remark

   Show marketing remark (261 chars)

   South Suburban Land Bank Property. Bring your ideas and creativity to this 2 bed 1 bath home. one-car garage, Ideal for an investor or owner occupant. Being sold as is, no survey will be provided. Buyer responsible for ALL village requirements. Come see today!

8. 2023-11-13
   status Active 261-char remark

   Show marketing remark (261 chars)

   South Suburban Land Bank Property. Bring your ideas and creativity to this 2 bed 1 bath home. one-car garage, Ideal for an investor or owner occupant. Being sold as is, no survey will be provided. Buyer responsible for ALL village requirements. Come see today!

9. 2023-09-28
   historical Contingent - Continue to Show 261-char remark

   Show marketing remark (261 chars)

   South Suburban Land Bank Property. Bring your ideas and creativity to this 2 bed 1 bath home. one-car garage, Ideal for an investor or owner occupant. Being sold as is, no survey will be provided. Buyer responsible for ALL village requirements. Come see today!

10. 2023-09-05
    status Active 261-char remark

    Show marketing remark (261 chars)

    South Suburban Land Bank Property. Bring your ideas and creativity to this 2 bed 1 bath home. one-car garage, Ideal for an investor or owner occupant. Being sold as is, no survey will be provided. Buyer responsible for ALL village requirements. Come see today!

11. 2023-09-03
    historical 261-char remark

    Show marketing remark (261 chars)

    South Suburban Land Bank Property. Bring your ideas and creativity to this 2 bed 1 bath home. one-car garage, Ideal for an investor or owner occupant. Being sold as is, no survey will be provided. Buyer responsible for ALL village requirements. Come see today!

12. 2023-09-03
    status Temporarily No Showings 261-char remark

    Show marketing remark (261 chars)

    South Suburban Land Bank Property. Bring your ideas and creativity to this 2 bed 1 bath home. one-car garage, Ideal for an investor or owner occupant. Being sold as is, no survey will be provided. Buyer responsible for ALL village requirements. Come see today!

13. 2023-09-02
    historical 261-char remark

    Show marketing remark (261 chars)

    South Suburban Land Bank Property. Bring your ideas and creativity to this 2 bed 1 bath home. one-car garage, Ideal for an investor or owner occupant. Being sold as is, no survey will be provided. Buyer responsible for ALL village requirements. Come see today!

14. 2023-09-01
    listed $45,000 Active 261-char remark

    Show marketing remark (261 chars)

    South Suburban Land Bank Property. Bring your ideas and creativity to this 2 bed 1 bath home. one-car garage, Ideal for an investor or owner occupant. Being sold as is, no survey will be provided. Buyer responsible for ALL village requirements. Come see today!

15. 2019-07-02
    historical
16. 2019-06-21
    listed New
17. 2014-02-12
    historical
18. 2013-04-20
    status Pending
19. 2012-12-06
    price Price Change
20. 2012-11-23
    price Price Change
21. 2012-10-01
    price Price Change
22. 2012-08-15
    listed New
23. 2011-09-26
    historical
24. 2011-09-23
    status Active
25. 2011-08-17
    historical
26. 2011-08-06
    listed New

ⓘ 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: $21,846
• − Mortgage interest: −$8,738
• − Property taxes: −$2,340
• − Insurance: −$780
• − Repairs & maintenance: −$1,748
• − Management: −$1,748
• − Depreciation: −$4,538
• Taxable income: $1,954
• Est. tax owed @ 24.0%: −$469
• After-tax cash flow: $3,852/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

+246.7% since first listed

26 events — show timeline

• 2026-04-27 Pending — MRED as Distributed by MLS Grid
• 2026-04-13 Price Changed $156,000 MRED as Distributed by MLS Grid
• 2026-03-16 Price Changed $162,500 MRED as Distributed by MLS Grid
• 2024-04-26 Sold (MLS) $42,000 MRED as Distributed by MLS Grid
• 2024-02-27 Contingent — MRED as Distributed by MLS Grid
• 2024-02-12 Relisted — MRED as Distributed by MLS Grid
• 2024-02-06 Contingent — MRED as Distributed by MLS Grid
• 2023-11-13 Relisted — MRED as Distributed by MLS Grid
• 2023-09-28 Contingent — MRED as Distributed by MLS Grid
• 2023-09-05 Relisted — MRED as Distributed by MLS Grid
• 2023-09-03 Listing Removed — MRED as Distributed by MLS Grid
• 2023-09-03 Relisted — MRED as Distributed by MLS Grid
• 2023-09-02 Listing Removed — MRED as Distributed by MLS Grid
• 2023-09-01 Listed $45,000 MRED as Distributed by MLS Grid
• 2019-07-02 Listing Removed — MRED as Distributed by MLS Grid
• 2019-06-21 Listed — MRED as Distributed by MLS Grid
• 2014-02-12 Listing Removed — MRED as Distributed by MLS Grid
• 2013-04-20 Pending — MRED as Distributed by MLS Grid
• 2012-12-06 Price Changed — MRED as Distributed by MLS Grid
• 2012-11-23 Price Changed — MRED as Distributed by MLS Grid
• 2012-10-01 Price Changed — MRED as Distributed by MLS Grid
• 2012-08-15 Listed — MRED as Distributed by MLS Grid
• 2011-09-26 Listing Removed — MRED as Distributed by MLS Grid
• 2011-09-23 Relisted — MRED as Distributed by MLS Grid
• 2011-08-17 Listing Removed — MRED as Distributed by MLS Grid
• 2011-08-06 Listed — MRED as Distributed by MLS Grid

Property tax history

+6.4%/yr

Latest (2023): $8,052 · +8.5% YoY. Source: county tax records.