7443 Washington St #307 · Forest Park, IL 60130

$129,900

1 bd · 1.0 ba · 700 sqft · Condo · 220 Days on market

Built 1969 $178/mo HOA · 12% of rent ↓ 4% since listing

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Why this score? — see what drove the D 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 +13.4/30.0
• ARV discount +7.5/15.0
• 1% rule +6.4/10.0
• Livability +4.3/5.0
• DSCR +4.1/10.0
• Rent growth +3.2/5.0
• Condition / age +2.5/5.0
• Schools +1.4/10.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to 7443 Washington Street, Unit 307 - Forest Park, IL Whether you're looking for your next home or a smart investment, this charming 1-bedroom, 1-bath condo delivers comfort and convenience in equal measure. With approximately 700 square feet of well-designed living space, this midrise unit features a private balcony, elevator access, and covered, assigned parking #30. Located just five minutes from vibrant downtown Oak Park, you'll enjoy easy access to shopping, dining, and transit. The building offers on-site laundry, pet-friendly policies, and a welcoming community atmosphere. Currently leased and investor-ready, this is a turnkey opportunity you won't want to miss. ESTATE SALE

Key facts

• Private balcony
• Elevator access
• On-site laundry

Tags

• PRIVATE BALCONY
• ELEVATOR ACCESS
• COVERED ASSIGNED PARKING
• ON-SITE LAUNDRY
• PET-FRIENDLY POLICIES

Property features AI

Finance

• Other: Property currently leased; Part of a 50-unit building; Commuter-friendly location (bus, train, interstate access)
• HOA & community: Monthly association fee of $178 covering water, insurance, lawn care, scavenger and snow removal; Association amenities include coin laundry and elevator(s); Management: off-site manager; Pets allowed (cats and dogs), maximum pet weight 50 lbs

Exterior

• Parking: Assigned parking on asphalt; Total of 1 parking space
• Utilities: Public water; Public sewer; Electric service with circuit breakers
• Home design: Attached single condo; Entry on 3rd level; Disability accessible
• Construction: Brick construction; Building age approximately 51–60 years; Built before 1978
• Exterior features: Balcony

Interior

• Kitchen: Range; Refrigerator; Range hood
• Bedrooms: 1 bedroom (main level master bedroom); Additional rooms labeled as Bedroom 2, Bedroom 3 and Bedroom 4 (possible/flexible sleeping areas)
• Flooring: Wood laminate flooring in living room and master bedroom; Ceramic tile in kitchen and dining room
• Bathrooms: 1 full bathroom with soaking tub
• Heating & cooling: Electric heating; Wall unit(s) for cooling
• Interior features: Flexicore construction
• Laundry & utility: Laundry room

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $130k.

Deal economics

• At list price, monthly cash flow is $3 ($42/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $130k).
• Recommended offer: $114k (12.0% below list) — sets the bar for market timing.
• Cap rate 6.3% vs local median 3.1% in Forest Park — 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 86/100 on livability (#20 in IL, #405 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, housing A+; Watch: crime F.
• Proviso Twp Hsd 209 (suburban): math 12% / reading 17% proficiency, ranked #507 of 620 in IL (top 82%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Garfield Elem School (196 students, 0% FRL); Forest Park Middle School (math 2% / reading 17%, grade F, #592 of 665 statewide, top 90%, 160 students, 0% FRL); Proviso West High School (math 6% / reading 11%, grade F, #584 of 693 statewide, top 85%, 1,868 students, 0% FRL).
• Market conditions: Rents rising (+2.8%/yr); 46 active listings in the ZIP; 23 comparable units currently listed for rent nearby; rentals leasing fast (median 7d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 6,272 units permitted in Cook County in 2024 (4,658 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $898 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 220 days — a 12% lower offer ($114k) is reasonable based on typical stale-listing flexibility.

Recommended offer $114,312 (12.0% below list)

Questions for the listing agent

1. It's been on market 220 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 1969 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
8. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
9. 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.
10. 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.
11. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.14% ✓
• Cap rate: 6.33%
• Cash-on-cash: 0.11%
• DSCR: 1.01
• GRM: 7.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 2.76% rent growth · sell at horizon

5-year hold

• IRR: -16.3%
• Equity multiple: 0.42×
• Total profit: $-20,998
• Equity at exit: $19,369

10-year hold

• IRR: -8.3%
• Equity multiple: 0.49×
• Total profit: $-18,699
• Equity at exit: $11,231

Cash invested: $36,372 (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 60130

• Rents YoY: 2.8%
• Active inventory: 46
• Price-to-rent: 7.3×

Monthly cashflow live

• Estimated rent: $1,476 high
• Mortgage (P&I): −$681
• Tax from tax record: −$249 /mo · $2,994/yr
• Insurance: −$54
• HOA: −$178
• Vacancy / Maint / Mgmt: −$310
• Net cashflow: $3

Break-even live

Break-even rent $1,472

Max offer price $129,900

Occupancy floor 95%

Sensitivity live

Price	-10% $77	-5% $40	+0% $3	+5% $-33	+10% $-70
Rent	-10% $-113	-5% $-55	+0% $3	+5% $62	+10% $120
Rate	-1.0pp $69	-0.5pp $37	base $3	+0.5pp $-30	+1.0pp $-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: $32,475
• Closing costs: $3,897
• Reserves months: —
• Total cash needed: —

Rent comps 23 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
7443 Washington St #603 Forest Park, IL	1.0	1.0	700	$1,400	$2.00	4d	1	0.02mi
227 Des Plaines Ave Forest Park, IL	—	1.0	350	$1,298	$3.71	26d	1	0.08mi
300 Des Plaines Ave Forest Park, IL	1.0	1.0	700	$1,300	$1.86	9d	1	0.10mi
314 Lathrop Ave #404 Forest Park, IL	1.0	1.0	675	$1,500	$2.22	26d	1	0.18mi
7232 Randolph St Unit 401 Forest Park, IL	1.0	1.0	645	$1,400	$2.17	0d	1	0.24mi
7232 Randolph St Unit 101 Forest Park, IL	1.0	1.0	645	$1,200	$1.86	4d	1	0.24mi
136 Elgin Ave Unit 2N Forest Park, IL	1.0	1.0	500	$1,450	$2.90	26d	1	0.30mi
1133 South Blvd Oak Park, IL	3.0	1.0–2.0	1008	$3,595	$3.57	0d	10	0.46mi
1105 Pleasant St Oak Park, IL	3.0	1.0–2.0	1410	$3,785	$2.68	0d	8	0.48mi
100 Forest Pl Oak Park, IL	1.0–2.0	1.0–2.5	945	$1,797	$1.90	6d	15	0.71mi
1000 Lake St Oak Park, IL	2.0	1.0–2.0	929	$3,274	$3.52	0d	32	0.72mi
839 Dunlop Ave Unit 1296499P Forest Park, IL	1.0	1.0	699	$3,590	$5.14	8d	1	0.82mi
839 Dunlop Ave Unit 1244957P Forest Park, IL	1.0	1.0	699	$3,861	$5.52	22d	1	0.82mi
926 Dunlop Ave #308 Forest Park, IL	1.0	1.0	512	$1,400	$2.73	13d	1	0.91mi
703 Madison St Unit 526 Oak Park, IL	1.0	1.0	543	$5,500	$10.13	4d	1	0.98mi
1124 Hannah Ave Unit 1F Forest Park, IL	1.0	1.0	617	$1,500	$2.43	6d	1	1.12mi
1124 Dunlop Ave Unit 2C Forest Park, IL	1.0	1.0	500	$1,400	$2.80	15d	1	1.14mi
1140 Lathrop Ave Unit 208 Forest Park, IL	1.0	1.0	700	$1,345	$1.92	26d	1	1.18mi
1128 Des Plaines Ave Forest Park, IL	1.0	1.0	700	$1,500	$2.14	26d	1	1.21mi
1227 S Harlem Ave #215 Berwyn, IL	1.0	1.0	700	$1,545	$2.21	7d	1	1.30mi
404 School St Maywood, IL	2.0	1.0	737	$1,565	$2.12	0d	1	1.40mi
903 S 5th Ave Apt 2C Maywood, IL	1.0	1.0	585	$1,100	$1.88	24d	1	1.43mi
8280 Roosevelt Rd Unit 1S-8280 Forest Park, IL	1.0	1.0	700	$1,295	$1.85	0d	1	1.49mi

HOA detail condo

• Monthly dues: $178 · $2,136/yr
• Likely covers: parking
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 17 events

1. 2026-06-21
   days on market $129,900 Active 220 DOM
2. 2026-06-18
   days on market $129,900 Active 217 DOM
3. 2026-06-17
   days on market $129,900 Active 216 DOM
4. 2026-06-16
   days on market $129,900 Active 215 DOM
5. 2026-06-15
   days on market $129,900 Active 214 DOM
6. 2026-06-13
   days on market $129,900 Active 212 DOM
7. 2026-06-13
   days on market $129,900 Active 211 DOM
8. 2026-06-09
   days on market $129,900 Active 208 DOM
9. 2026-06-08
   days on market $129,900 Active 207 DOM
10. 2026-06-07
    days on market $129,900 Active 206 DOM
11. 2026-06-04
    days on market $129,900 Active 203 DOM
12. 2026-06-03
    days on market $129,900 Active 202 DOM
13. 2026-06-02
    days on market $129,900 Active 201 DOM
14. 2026-06-01
    days on market $129,900 Active 200 DOM
15. 2026-05-31
    days on market $129,900 Active 199 DOM
16. 2025-12-05
    price $129,900
17. 2025-11-13
    listed $134,900 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast IL · Partial reset (capped growth)

• Current annual tax: $2,994 · $249/mo
• Projected year-2 tax: $2,994 · $249/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

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 ≥100°F today · 14 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 5/10 Major 6 unhealthy d/yr today · 8 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,716
• − Mortgage interest: −$7,276
• − Property taxes: −$2,994
• − Insurance: −$650
• − Repairs & maintenance: −$1,417
• − Management: −$1,417
• − HOA: −$2,136
• − Depreciation: −$3,779
• Taxable loss: −$1,953
• Est. tax savings @ 24.0%: +$469
• After-tax cash flow: $511/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: Proviso Twp Hsd 209
• NCES district ID: 1732910
• Math proficiency: 12% ▼ -4.00%
• Reading proficiency: 17% ▼ -3.00%
• Median HH income: $51,744
• Composite: 13.5/100
• National rank: #9518
• State rank: #507 of 620 in IL

Livability — Forest Park

• Score: 86/100
• State rank: #20
• US rank: #405

Category grades

Amenities A+ Commute A+ Cost of living B Crime F Employment A Housing A+ Health & safety B- User ratings A+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Forest Park, IL
• County: Cook County · 4,486,803 people
• City population: 13,943
• Metro: Chicago-Naperville-Elgin, IL-IN-WI
• Population (ZIP): 13,943
• Household income: $77,221
• Rent vs Own: 47.2% rent · 52.8% own
• Severe rent burden: 650.0

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: Diverse neighborhood (Simpson 0.64)
• Race & ethnicity: White 53% Black 25% Hispanic / Latino 11% Two or more races 7% Asian 7%
• Hispanic origin (detail): Mexican 6% Puerto Rican 2%
• Common ancestry: Romanian 5% Lithuanian 3% Serbian 2%
• Foreign-born: 9% · Canada
• Languages at home: 85% English-only · Spanish 8% Other Asian/Pacific 2% Arabic 2%

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: ▼ -192.60%
• Current HPI: 292.8802
• Rent YoY: ▲ 2.76%
• 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

-3.7% since first listed

2 events — show timeline

• 2025-12-05 Price Changed $129,900 MRED as Distributed by MLS Grid
• 2025-11-13 Listed $134,900 MRED as Distributed by MLS Grid

Property tax history

+2.6%/yr

Latest (2023): $2,994 · +20.5% YoY. Source: county tax records.