322 Nassau St · Park Forest, IL 60466

$125,000

2 bd · 1.0 ba · 974 sqft · SingleFamily public records · 46 Days on market

Built 1951 Est $150k · 17% under

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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
• DSCR +10.0/10.0
• 1% rule +9.3/10.0
• 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

BRICK RANCH HOME WITH A 2-CAR GARAGE. THIS PLACE OFFERS NICE LIVING SPACE ON A GOOD-SIZED LOT WITH DESIRABLE UNDER-ROOF PARKING. JUST STEPS AWAY FROM A BIG NEIGHBORHOOD PARK AND OPEN SPACE AREAS. TRULY A GREAT LOCATION. TENANT OCCUPIED COULD BE A QUICKER CLOSE THAN LEASE EXPIRATION DATE. THIS 1 STORY HOME HAS NEW GUTTERS (ALSO ON THE GARAGE), NEW GARAGE SIDING, HOUSE AND GARAGE ROOF'S ARE 7 YRS OLD. FLOORING THROUGHOUT THE BEDROOMS AND LIVING ROOMS ARE NEW, AC IS NEW, WATER HEATER IS NEW, STOVE IS NEW AND WATER LINES HAVE BEEN RE-PIPED FOR INCREASED WATER PRESSURE. SCHEDULE A SHOWING TODAY!

Key facts

• 2 garage spots
• Built 1951
• Listed 45 days

Property features AI

Finance

• HOA & community: No master association fee required; Nearby park

Exterior

• Parking: Detached garage (owned) with 2 garage spaces; 2 total parking spaces
• Utilities: Public water; Public sewer
• Home design: Detached single-family home; One-story layout; Fee simple ownership; Property currently being leased
• Construction: Built approximately 71–80 years ago; Brick construction; Asphalt roof; Concrete perimeter foundation; Built before 1978
• Exterior features: Patio

Interior

• Kitchen: Kitchen on main level (approximately 11 x 12); Vinyl flooring in kitchen
• Bedrooms: Master bedroom on main level (approximately 10 x 14); Second bedroom on main level (approximately 10 x 11); Additional bedrooms listed (total 2)
• Flooring: Carpet in living room, family room, and some bedrooms; Vinyl in kitchen, master bedroom, and laundry
• Bathrooms: One full bathroom
• Heating & cooling: Steam heating; Small-duct high-velocity cooling; Window air conditioning units
• Interior features: Five total rooms; School bus service; Disability access
• Laundry & utility: Main-level laundry room (approximately 7 x 11) with vinyl flooring

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $125k.

Deal economics

• At list price, monthly cash flow is $547 ($7k/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: $121k (3.0% below list) — sets the bar for market timing.
• Cap rate 11.5% vs local median 9.5% 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: 106 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals leasing fast (median 0d 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 $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 ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 46 days — a 3% lower offer ($121k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $54k; list at $125k implies a 131% 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 $121,250 (3.0% below list)

Questions for the listing agent

1. It's been on market 46 days. Have you received any prior offers? Is the seller open to a 3% 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. 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: 1.43% ✓
• Cap rate: 11.55%
• Cash-on-cash: 18.76%
• DSCR: 1.83
• GRM: 5.8

CMA / ARV

• ARV (on-the-fly): $149,996
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
310 Nassau St	0.07mi	3/1.0 (+1)	953 (-2%)	1mo	$129,000	$135	87
136 Peach St	0.29mi	2/1.0	974 (0%)	3mo	$163,000	$167	84
223 S Orchard Dr	0.32mi	2/1.0	949 (-3%)	0mo	$105,000	$111	81
209 Miami St	0.45mi	2/1.0	974 (0%)	1mo	$108,000	$111	79
254 Blackhawk Dr	0.67mi	2/1.0	1,000 (+3%)	2mo	$105,000	$105	63
316 Mohawk St	0.75mi	2/1.0	949 (-3%)	2mo	$141,000	$149	59
208 Miami St	0.43mi	3/1.5 (+1)	1,053 (+8%)	2mo	$175,000	$166	58
429 Natoma St	0.60mi	3/1.0 (+1)	1,035 (+6%)	0mo	$159,000	$154	56
124 Nauvoo St	0.37mi	3/1.0 (+1)	1,092 (+12%)	4mo	$170,000	$156	54
425 Neosho St	0.51mi	3/1.0 (+1)	1,092 (+12%)	1mo	$169,900	$156	50
410 Indianwood Blvd	0.54mi	3/1.0 (+1)	1,100 (+13%)	0mo	$135,000	$123	48
181 Nanti St	0.68mi	3/1.0 (+1)	1,092 (+12%)	1mo	$179,999	$165	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: 10.6%
• Equity multiple: 1.42×
• Total profit: $14,622
• Equity at exit: $18,638

10-year hold

• IRR: 19.6%
• Equity multiple: 2.65×
• Total profit: $57,717
• 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: 5.8×

Monthly cashflow live

• Estimated rent: $1,786 high
• Mortgage (P&I): −$656
• Tax est. 1.5%: −$156 /mo · $1,875/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$375
• Net cashflow: $547

Break-even live

Break-even rent $1,093

Max offer price $125,000

Occupancy floor 64%

Sensitivity live

Price	-10% $634	-5% $590	+0% $547	+5% $504	+10% $461
Rent	-10% $406	-5% $477	+0% $547	+5% $618	+10% $688
Rate	-1.0pp $610	-0.5pp $579	base $547	+0.5pp $515	+1.0pp $482

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 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
411 Huron St Park Forest, IL	3.0	1.0	1092	$2,200	$2.01	0d	1	0.55mi
3484 Western Ave Unit 3484-B Park Forest, IL	1.0	1.0	600	$1,300	$2.17	0d	1	0.59mi
194 Monee Rd Park Forest, IL	3.0	1.0	1092	$1,971	$1.80	23d	1	0.73mi
23439 Western Ave Unit C29 Park Forest, IL	2.0	2.0	975	$1,570	$1.61	0d	1	0.74mi
23439 Western Ave Unit K12 Park Forest, IL	1.0	1.0	800	$1,415	$1.77	0d	1	0.74mi
3324 Western Ave Park Forest, IL	1.0–3.0	1.0	1026	$1,680	$1.64	0d	11	0.75mi
277 Somonauk St Park Forest, IL	3.0	1.0	966	$2,000	$2.07	4d	1	0.78mi
11 Fir St Park Forest, IL	1.0–3.0	1.0	1026	$1,669	$1.63	0d	1	0.89mi
235 Tampa St Park Forest, IL	3.0	1.0	1092	$2,000	$1.83	26d	1	0.95mi

Listing history 17 events

1. 2026-06-21
   days on market $125,000 Active 46 DOM
2. 2026-06-18
   days on market $125,000 Active 43 DOM
3. 2026-06-17
   days on market $125,000 Active 42 DOM
4. 2026-06-16
   days on market $125,000 Active 41 DOM
5. 2026-06-15
   days on market $125,000 Active 40 DOM
6. 2026-06-13
   days on market $125,000 Active 38 DOM
7. 2026-06-09
   days on market $125,000 Active 34 DOM
8. 2026-06-08
   days on market $125,000 Active 33 DOM
9. 2026-06-07
   days on market $125,000 Active 32 DOM
10. 2026-06-04
    days on market $125,000 Active 29 DOM
11. 2026-06-03
    days on market $125,000 Active 28 DOM
12. 2026-06-02
    days on market $125,000 Active 27 DOM
13. 2026-06-01
    days on market $125,000 Active 26 DOM
14. 2026-05-31
    days on market $125,000 Active 25 DOM
15. 2026-05-06
    listed $125,000 Active
16. 1992-08-04
    soldstatus $54,000
17. 1981-06-05
    soldstatus $49,000

ⓘ 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: $21,433
• − Mortgage interest: −$7,002
• − Property taxes: −$1,875
• − Insurance: −$625
• − Repairs & maintenance: −$1,715
• − Management: −$1,715
• − Depreciation: −$3,636
• Taxable income: $4,866
• Est. tax owed @ 24.0%: −$1,168
• After-tax cash flow: $5,398/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

+155.1% since first listed

3 events — show timeline

• 2026-05-06 Listed $125,000 MRED as Distributed by MLS Grid
• 1992-08-04 Sold (Public Records) $54,000 Public Records
• 1981-06-05 Sold (Public Records) $49,000 Public Records

Property tax history

+5.0%/yr

Latest (2023): $6,565 · +38.5% YoY. Source: county tax records.