344 Oakwood St · Park Forest, IL 60466

$89,900

3 bd · 2.0 ba · 1,269 sqft · SingleFamily public records · 122 Days on market

Built 1955

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• 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

Exciting opportunity! This brick and frame Ranch offers 3 bedrooms, 2 full baths, and a 2-car detached garage! This property is waiting for the right owner to unlock its full potential and turn it into a stunning home. Conveniently located near shopping and transportation, this is ideal for a first-time buyer ready to transform it into a fabulous living space or an investor looking to add to their rental portfolio.

Key facts

• 2 garage spots
• Built 1955
• Listed 122 days

Property features AI

Finance

• Other: Fee simple ownership; Possession at closing; Directions: Sauk Trail to Orchard Dr - S to Oakwood - E to property
• HOA & community: No master association fee required

Exterior

• Parking: Detached garage (2 garage spaces, 2 total parking spaces)
• Utilities: Public water; Public sewer
• Home design: Detached single-family home; One-story
• Construction: Brick and frame construction; Built roughly 71–80 years ago; Built before 1978
• Exterior features: Lot smaller than 0.25 acre; Lot dimensions: 0.16

Interior

• Kitchen: Kitchen on the main level (12 x 12)
• Bedrooms: 3 bedrooms (all on the main level); Master bedroom on the main level with an attached full bath; Bedroom measuring 13 x 11 (main level); Bedroom measuring 12 x 11 (main level)
• Bathrooms: 2 full bathrooms
• Heating & cooling: Natural gas forced-air heating
• Interior features: 7 total rooms
• Laundry & utility: Laundry room

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $90k.

Deal economics

• At list price, monthly cash flow is $1k ($14k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $90k).
• Recommended offer: $79k (12.0% below list) — sets the bar for market timing.
• Cap rate 21.5% 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: 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; 12 comparable units currently listed for rent nearby; rentals leasing fast (median 14d 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 43% 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 $622 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $25k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 122 days — a 12% lower offer ($79k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 10y ago; this cycle's ask has dropped $25k (22%) 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 $79,112 (12.0% below list)

Questions for the listing agent

1. It's been on market 122 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: 2.48% ✓
• Cap rate: 21.54%
• Cash-on-cash: 54.46%
• DSCR: 3.42
• GRM: 3.4

CMA / ARV

• ARV (on-the-fly): $180,198
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
360 Niagara St	0.39mi	3/1.0	1,231 (-3%)	0mo	$150,000	$122	73
210 Marquette St	0.57mi	3/1.0	1,269 (0%)	1mo	$153,000	$121	69
5 Oak Ln	0.40mi	3/2.0	1,171 (-8%)	2mo	$170,000	$145	67
6 Monee Ct	0.19mi	3/1.5	1,452 (+14%)	3mo	$120,000	$83	63
140 Nashua St	0.60mi	3/1.0	1,313 (+4%)	1mo	$103,000	$78	61
131 Sauk Trl	0.44mi	3/1.0	1,148 (-10%)	2mo	$144,000	$125	58
397 Oswego St	0.41mi	4/2.0 (+1)	1,398 (+10%)	2mo	$199,000	$142	57
223 Miami St	0.67mi	3/1.0	1,162 (-8%)	1mo	$166,000	$143	50
107 Chestnut St	0.59mi	4/2.5 (+1)	1,383 (+9%)	1mo	$215,000	$155	49
425 Neosho St	0.52mi	3/1.0	1,092 (-14%)	1mo	$169,900	$156	48
410 Indianwood Blvd	0.65mi	3/1.0	1,100 (-13%)	0mo	$135,000	$123	43
181 Nanti St	0.64mi	3/1.0	1,092 (-14%)	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: 52.7%
• Equity multiple: 3.31×
• Total profit: $58,219
• Equity at exit: $13,404

10-year hold

• IRR: 57.9%
• Equity multiple: 6.74×
• Total profit: $144,515
• Equity at exit: $7,773

Cash invested: $25,172 (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: 3.4×

Monthly cashflow live

• Estimated rent: $2,232 high
• Mortgage (P&I): −$471
• Tax est. 1.5%: −$112 /mo · $1,348/yr
• Insurance: −$37
• HOA: −$0
• Vacancy / Maint / Mgmt: −$469
• Net cashflow: $1,142

Break-even live

Break-even rent $786

Max offer price $89,900

Occupancy floor 44%

Sensitivity live

Price	-10% $1,204	-5% $1,173	+0% $1,142	+5% $1,111	+10% $1,080
Rent	-10% $966	-5% $1,054	+0% $1,142	+5% $1,230	+10% $1,319
Rate	-1.0pp $1,188	-0.5pp $1,165	base $1,142	+0.5pp $1,119	+1.0pp $1,095

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: $22,475
• Closing costs: $2,697
• Reserves months: —
• Total cash needed: —

Rent comps 12 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
111 Nashua St Park Forest, IL	4.0	1.5	1500	$2,500	$1.67	25d	1	0.31mi
372 Oswego St Park Forest, IL	4.0	1.0	1200	$2,600	$2.17	25d	1	0.35mi
19 Apple Ln Park Forest, IL	3.0	1.0	1541	$2,300	$1.49	13d	1	0.37mi
23439 Western Ave Unit C29 Park Forest, IL	2.0	2.0	975	$1,570	$1.61	0d	1	0.51mi
411 Huron St Park Forest, IL	3.0	1.0	1092	$2,200	$2.01	0d	1	0.69mi
194 Monee Rd Park Forest, IL	3.0	1.0	1092	$1,971	$1.80	23d	1	0.71mi
441 Talala St Park Forest, IL	4.0	2.0	1740	$2,500	$1.44	25d	1	0.77mi
3324 Western Ave Park Forest, IL	1.0–3.0	1.0	1026	$1,995	$1.94	0d	11	0.85mi
277 Somonauk St Park Forest, IL	3.0	1.0	966	$2,000	$2.07	4d	1	0.90mi
490 Shabbona Dr Park Forest, IL	3.0	1.0	1300	$1,895	$1.46	4d	1	0.95mi
235 Tampa St Park Forest, IL	3.0	1.0	1092	$2,000	$1.83	25d	1	0.96mi
11 Fir St Park Forest, IL	1.0–3.0	1.0	1026	$2,069	$2.02	0d	1	1.03mi

Listing history 20 events

1. 2026-06-15
   status $89,900 Pending 122 DOM
2. 2026-06-15
   days on market $89,900 Auction 122 DOM
3. 2026-06-13
   days on market $89,900 Auction 120 DOM
4. 2026-06-09
   days on market $89,900 Auction 116 DOM
5. 2026-06-08
   days on market $89,900 Auction 115 DOM
6. 2026-06-07
   days on market $89,900 Auction 114 DOM
7. 2026-06-04
   days on market $89,900 Auction 111 DOM
8. 2026-06-03
   days on market $89,900 Auction 110 DOM
9. 2026-06-02
   days on market $89,900 Auction 109 DOM
10. 2026-06-01
    days on market $89,900 Auction 108 DOM
11. 2026-05-31
    days on market $89,900 Auction 107 DOM
12. 2026-04-28
    price $89,900
13. 2026-03-20
    price $104,900
14. 2026-02-13
    listed $114,900 Active
15. 2016-02-01
    historical
16. 2016-01-27
    listed New
17. 2006-04-19
    soldstatus $132,000
18. 2002-07-01
    soldstatus $104,000
19. 1992-11-17
    soldstatus $83,000
20. 1984-05-01
    soldstatus $63,000

ⓘ 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: $26,788
• − Mortgage interest: −$5,036
• − Property taxes: −$1,348
• − Insurance: −$450
• − Repairs & maintenance: −$2,143
• − Management: −$2,143
• − Depreciation: −$2,615
• Taxable income: $13,053
• Est. tax owed @ 24.0%: −$3,133
• After-tax cash flow: $10,575/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

+42.7% since first listed

9 events — show timeline

• 2026-04-28 Price Changed $89,900 MRED as Distributed by MLS Grid
• 2026-03-20 Price Changed $104,900 MRED as Distributed by MLS Grid
• 2026-02-13 Listed $114,900 MRED as Distributed by MLS Grid
• 2016-02-01 Listing Removed — MRED as Distributed by MLS Grid
• 2016-01-27 Listed — MRED as Distributed by MLS Grid
• 2006-04-19 Sold (Public Records) $132,000 Public Records
• 2002-07-01 Sold (Public Records) $104,000 Public Records
• 1992-11-17 Sold (Public Records) $83,000 Public Records
• 1984-05-01 Sold (Public Records) $63,000 Public Records

Property tax history

+4.5%/yr

Latest (2023): $8,553 · +150.2% YoY. Source: county tax records.