119 Well St · Park Forest, IL 60466

$114,500

3 bd · 1.0 ba · 1,092 sqft · SingleFamily public records · 59 Days on market

Built 1959 7,801 sqft lot Est $161k · 29% 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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• 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 MLS

There are no remarks available.

Key facts

• Recent updates
• Granite countertops
• Kitchen remodel

Tags

• BRICK RANCH STYLED HOME
• RECENT UPDATES
• KITCHEN REMODEL
• BUILT-IN ENTERTAINMENT CENTER
• WHITE SHAKER CABINETS
• GRANITE COUNTERTOPS

Property features AI

Finance

• Financial info: Special service area: No
• HOA & community: Master association not required; Community amenities nearby include park, pool, and tennis courts; Neighborhood features include curbs, sidewalks, street lights, and paved streets

Exterior

• Parking: Detached garage (garage owned) with garage door opener; Concrete parking surfaces; Approximately 1.5 garage/parking spaces
• Security: CO detectors
• Utilities: Public water; Public sewer; Electric service with circuit breakers
• Home design: Detached single-family ranch; One-story
• Construction: Brick and frame construction; Asphalt roof; Built approximately 61–70 years ago; Built before 1978
• Exterior features: Fenced yard; Lot dimensions approximately 65 x 130; Less than 0.25 acre lot

Interior

• Kitchen: Range; Microwave; Dishwasher; Refrigerator; Eating area / breakfast bar; Ceramic tile flooring in kitchen; Blinds on kitchen windows
• Bedrooms: Three bedrooms on the main level (master bedroom with no attached bath); Two secondary bedrooms on the main level (each 9 x 12) with blinds
• Flooring: Carpet in living room and bedrooms; Ceramic tile in kitchen and laundry; Bay window in living room
• Bathrooms: One full bathroom
• Heating & cooling: Natural gas forced air heating; Central air conditioning
• Interior features: Five total rooms; CO detectors; Ceiling fan(s)
• Laundry & utility: Main-level laundry room (10 x 10) with sink; Washer; Dryer; Blinds in laundry room; Ceramic tile flooring in laundry room

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $114k.

Deal economics

• At list price, monthly cash flow is $819 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $114k).
• Recommended offer: $111k (3.0% below list) — sets the bar for market timing.
• Cap rate 14.9% 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; 17 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 40% 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 $792 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 $32k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 59 days — a 3% lower offer ($111k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 14y ago; this cycle's ask has dropped $20k (15%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1959 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $111,065 (3.0% below list)

Questions for the listing agent

1. It's been on market 59 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 1959 — 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: 1.78% ✓
• Cap rate: 14.88%
• Cash-on-cash: 30.65%
• DSCR: 2.36
• GRM: 4.7

CMA / ARV

• ARV (on-the-fly): $160,524
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
118 Well St	0.04mi	3/1.0	1,092 (0%)	2mo	$177,000	$162	97
146 Well St	0.14mi	3/1.0	1,092 (0%)	8mo	$130,000	$119	87
356 Winnebago St	0.68mi	3/2.0	1,088 (-0%)	1mo	$150,000	$138	63
303 Wayne St	0.48mi	3/1.5	1,140 (+4%)	6mo	$180,000	$158	63
306 Winnebago St	0.67mi	3/2.0	1,088 (-0%)	3mo	$105,000	$97	62
212 Berry St	0.59mi	4/2.0 (+1)	1,121 (+3%)	0mo	$190,694	$170	59
128 Algonquin St	0.71mi	3/1.0	1,150 (+5%)	2mo	$169,000	$147	56
300 Indiana St	0.51mi	3/1.5	1,209 (+11%)	6mo	$170,000	$141	51
315 Illinois St	0.63mi	3/1.5	1,212 (+11%)	3mo	$174,000	$144	48
266 Green St	0.73mi	4/1.5 (+1)	1,170 (+7%)	6mo	$199,000	$170	42
433 Lakewood Blvd	0.67mi	3/1.5	1,248 (+14%)	2mo	$165,000	$132	41
312 Illinois St	0.66mi	3/1.5	1,250 (+14%)	5mo	$216,047	$173	39

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: 25.4%
• Equity multiple: 2.05×
• Total profit: $33,634
• Equity at exit: $17,072

10-year hold

• IRR: 33.1%
• Equity multiple: 4.01×
• Total profit: $96,574
• Equity at exit: $9,900

Cash invested: $32,060 (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: 4.7×

Monthly cashflow live

• Estimated rent: $2,038 high
• Mortgage (P&I): −$600
• Tax est. 1.5%: −$143 /mo · $1,718/yr
• Insurance: −$48
• HOA: −$0
• Vacancy / Maint / Mgmt: −$428
• Net cashflow: $819

Break-even live

Break-even rent $1,002

Max offer price $114,500

Occupancy floor 55%

Sensitivity live

Price	-10% $898	-5% $858	+0% $819	+5% $779	+10% $740
Rent	-10% $658	-5% $738	+0% $819	+5% $899	+10% $980
Rate	-1.0pp $877	-0.5pp $848	base $819	+0.5pp $789	+1.0pp $759

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: $28,625
• Closing costs: $3,435
• Reserves months: —
• Total cash needed: —

Rent comps 17 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
631 Andover St Chicago Heights, IL	3.0	1.0	900	$1,450	$1.61	4d	1	0.71mi
11 Fir St Park Forest, IL	1.0–3.0	1.0	1026	$2,069	$2.02	0d	1	0.73mi
400 Watseka St Park Forest, IL	4.0	2.0	1161	$2,161	$1.86	17d	1	0.83mi
3324 Western Ave Park Forest, IL	1.0–3.0	1.0	1026	$1,995	$1.94	0d	11	0.98mi
3538 212th Pl Matteson, IL	3.0	1.0	1209	$2,000	$1.65	25d	1	1.12mi
444 Hickory St Unit 2A Chicago Heights, IL	3.0	1.0	900	$1,695	$1.88	0d	1	1.26mi
4014 Euclid Ln Richton Park, IL	3.0	1.0	1100	$2,100	$1.91	13d	1	1.27mi
4014 Euclid Ln Richton Park, IL	2.0	1.0	1100	$2,100	$1.91	23d	1	1.27mi
4014 Euclid Ln Richton Park, IL	2.0	1.0	1100	$2,100	$1.91	8d	1	1.27mi
436 W Hickory St Unit Na Chicago Heights, IL	3.0	1.0	1091	$1,800	$1.65	0d	1	1.27mi
432 Hickory St Unit 2 Chicago Heights, IL	3.0	1.0	1200	$1,800	$1.50	21d	1	1.28mi
3838 216th Pl Matteson, IL	2.0	2.0	1160	$1,996	$1.72	21d	1	1.31mi
417 W Hickory St Unit 2 Chicago Heights, IL	3.0	1.0	900	$1,800	$2.00	21d	1	1.34mi
372 Oswego St Park Forest, IL	4.0	1.0	1200	$2,600	$2.17	25d	1	1.40mi
3905 Tower Dr Richton Park, IL	1.0–2.0	1.0–2.0	905	$1,795	$1.98	0d	19	1.42mi
1267 Division St Unit 1267 Chicago Heights, IL	3.0	1.5	1200	$1,500	$1.25	2d	1	1.43mi
370 E 17th St Chicago Heights, IL	3.0	1.0	1058	$2,600	$2.46	17d	1	1.49mi

Listing history 31 events

1. 2026-05-05
   status Pending
2. 2026-04-10
   price $114,500
3. 2026-03-06
   listed $135,000 Active
4. 2022-03-22
   soldstatus $116,000
5. 2022-03-15
   soldstatus $116,000 Closed 31-char remark

   Show marketing remark (31 chars)

   There are no remarks available.

6. 2022-03-09
   status Pending 31-char remark

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   There are no remarks available.

7. 2022-02-15
   historical Contingent - No Showings 31-char remark

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   There are no remarks available.

8. 2022-02-08
   status Active Under Contract (Do Not Show) 31-char remark

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   There are no remarks available.

9. 2022-01-27
   price $112,000 31-char remark

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   There are no remarks available.

10. 2022-01-27
    status Active 31-char remark

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    There are no remarks available.

11. 2022-01-12
    status Pending 31-char remark

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    There are no remarks available.

12. 2021-12-15
    status Active Under Contract (Do Not Show) 31-char remark

    Show marketing remark (31 chars)

    There are no remarks available.

13. 2021-12-08
    listed $109,000 Active 31-char remark

    Show marketing remark (31 chars)

    There are no remarks available.

14. 2017-07-27
    soldstatus $58,000
15. 2017-07-10
    soldstatus $58,000 Closed Sale 865-char remark

    Show marketing remark (865 chars)

    Brick 3 bedroom 1 bathroom Ranch style home. Features include central air, bright living room, updated full bathroom and 3 bedrooms with carpeting. Contemporary kitchen features beautiful oak cabinets and the following appliances: oven, dishwasher & refrigerator along with ceiling fan and table/island for convenient dining or additional counter space. Ample kitchen cabinet storage. Freshly painted, some newer windows, newer fixtures and newer roof (3 years old). Enjoy large spacious yard for summer entertainment. 1.5 car detached garage and cement driveway. Minutes from Central Park, Aqua Center Pool and library. Current taxes of $6,401 DO NOT REFLECT Homeowners Exemption - New owner occupied buyer will have a $4,000 tax bill, which would reflect current tax bill to be reduced $2,401 real estate taxes, per assessor office for owner occupant buyer.

16. 2017-06-22
    status Pending 865-char remark

    Show marketing remark (865 chars)

    Brick 3 bedroom 1 bathroom Ranch style home. Features include central air, bright living room, updated full bathroom and 3 bedrooms with carpeting. Contemporary kitchen features beautiful oak cabinets and the following appliances: oven, dishwasher & refrigerator along with ceiling fan and table/island for convenient dining or additional counter space. Ample kitchen cabinet storage. Freshly painted, some newer windows, newer fixtures and newer roof (3 years old). Enjoy large spacious yard for summer entertainment. 1.5 car detached garage and cement driveway. Minutes from Central Park, Aqua Center Pool and library. Current taxes of $6,401 DO NOT REFLECT Homeowners Exemption - New owner occupied buyer will have a $4,000 tax bill, which would reflect current tax bill to be reduced $2,401 real estate taxes, per assessor office for owner occupant buyer.

17. 2017-06-14
    price $60,000 865-char remark

    Show marketing remark (865 chars)

    Brick 3 bedroom 1 bathroom Ranch style home. Features include central air, bright living room, updated full bathroom and 3 bedrooms with carpeting. Contemporary kitchen features beautiful oak cabinets and the following appliances: oven, dishwasher & refrigerator along with ceiling fan and table/island for convenient dining or additional counter space. Ample kitchen cabinet storage. Freshly painted, some newer windows, newer fixtures and newer roof (3 years old). Enjoy large spacious yard for summer entertainment. 1.5 car detached garage and cement driveway. Minutes from Central Park, Aqua Center Pool and library. Current taxes of $6,401 DO NOT REFLECT Homeowners Exemption - New owner occupied buyer will have a $4,000 tax bill, which would reflect current tax bill to be reduced $2,401 real estate taxes, per assessor office for owner occupant buyer.

18. 2017-05-27
    price $64,900 865-char remark

    Show marketing remark (865 chars)

    Brick 3 bedroom 1 bathroom Ranch style home. Features include central air, bright living room, updated full bathroom and 3 bedrooms with carpeting. Contemporary kitchen features beautiful oak cabinets and the following appliances: oven, dishwasher & refrigerator along with ceiling fan and table/island for convenient dining or additional counter space. Ample kitchen cabinet storage. Freshly painted, some newer windows, newer fixtures and newer roof (3 years old). Enjoy large spacious yard for summer entertainment. 1.5 car detached garage and cement driveway. Minutes from Central Park, Aqua Center Pool and library. Current taxes of $6,401 DO NOT REFLECT Homeowners Exemption - New owner occupied buyer will have a $4,000 tax bill, which would reflect current tax bill to be reduced $2,401 real estate taxes, per assessor office for owner occupant buyer.

19. 2017-03-17
    listed $69,900 New 865-char remark

    Show marketing remark (865 chars)

    Brick 3 bedroom 1 bathroom Ranch style home. Features include central air, bright living room, updated full bathroom and 3 bedrooms with carpeting. Contemporary kitchen features beautiful oak cabinets and the following appliances: oven, dishwasher & refrigerator along with ceiling fan and table/island for convenient dining or additional counter space. Ample kitchen cabinet storage. Freshly painted, some newer windows, newer fixtures and newer roof (3 years old). Enjoy large spacious yard for summer entertainment. 1.5 car detached garage and cement driveway. Minutes from Central Park, Aqua Center Pool and library. Current taxes of $6,401 DO NOT REFLECT Homeowners Exemption - New owner occupied buyer will have a $4,000 tax bill, which would reflect current tax bill to be reduced $2,401 real estate taxes, per assessor office for owner occupant buyer.

20. 2012-11-26
    soldstatus $29,000 Closed Sale
21. 2012-10-20
    price $47,000 Reactivated
22. 2012-10-20
    status Reactivated
23. 2012-09-28
    historical Contingent
24. 2012-09-22
    price $29,000 Price Change
25. 2012-08-22
    price $37,000 Price Change
26. 2012-06-14
    price $42,900 Price Change
27. 2012-02-24
    listed $47,900 New
28. 2001-12-26
    soldstatus $82,500
29. 1995-01-05
    soldstatus $65,000
30. 1983-09-28
    soldstatus $15,500
31. 1983-09-01
    soldstatus $46,500

ⓘ 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: $24,459
• − Mortgage interest: −$6,414
• − Property taxes: −$1,718
• − Insurance: −$572
• − Repairs & maintenance: −$1,957
• − Management: −$1,957
• − Depreciation: −$3,331
• Taxable income: $8,511
• Est. tax owed @ 24.0%: −$2,043
• After-tax cash flow: $7,784/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

+146.2% since first listed

31 events — show timeline

• 2026-05-05 Pending — MRED as Distributed by MLS Grid
• 2026-04-10 Price Changed $114,500 MRED as Distributed by MLS Grid
• 2026-03-06 Listed $135,000 MRED as Distributed by MLS Grid
• 2022-03-22 Sold (Public Records) $116,000 Public Records
• 2022-03-15 Sold (MLS) $116,000 MRED as Distributed by MLS Grid
• 2022-03-09 Pending — MRED as Distributed by MLS Grid
• 2022-02-15 Contingent — MRED as Distributed by MLS Grid
• 2022-02-08 Pending — MRED as Distributed by MLS Grid
• 2022-01-27 Price Changed $112,000 MRED as Distributed by MLS Grid
• 2022-01-27 Relisted — MRED as Distributed by MLS Grid
• 2022-01-12 Pending — MRED as Distributed by MLS Grid
• 2021-12-15 Pending — MRED as Distributed by MLS Grid
• 2021-12-08 Listed $109,000 MRED as Distributed by MLS Grid
• 2017-07-27 Sold (Public Records) $58,000 Public Records
• 2017-07-10 Sold (MLS) $58,000 MRED as Distributed by MLS Grid
• 2017-06-22 Pending — MRED as Distributed by MLS Grid
• 2017-06-14 Price Changed $60,000 MRED as Distributed by MLS Grid
• 2017-05-27 Price Changed $64,900 MRED as Distributed by MLS Grid
• 2017-03-17 Listed $69,900 MRED as Distributed by MLS Grid
• 2012-11-26 Sold (MLS) $29,000 MRED as Distributed by MLS Grid
• 2012-10-20 Relisted — MRED as Distributed by MLS Grid
• 2012-10-20 Price Changed $47,000 MRED as Distributed by MLS Grid
• 2012-09-28 Contingent — MRED as Distributed by MLS Grid
• 2012-09-22 Price Changed $29,000 MRED as Distributed by MLS Grid
• 2012-08-22 Price Changed $37,000 MRED as Distributed by MLS Grid
• 2012-06-14 Price Changed $42,900 MRED as Distributed by MLS Grid
• 2012-02-24 Listed $47,900 MRED as Distributed by MLS Grid
• 2001-12-26 Sold (Public Records) $82,500 Public Records
• 1995-01-05 Sold (Public Records) $65,000 Public Records
• 1983-09-28 Sold (Public Records) $15,500 Public Records
• 1983-09-01 Sold (Public Records) $46,500 Public Records

Property tax history

+6.1%/yr

Latest (2023): $8,784 · +1.6% YoY. Source: county tax records.