366 Oswego St · Park Forest, IL 60466

$154,000

3 bd · 1.0 ba · 953 sqft · SingleFamily public records · 38 Days on market

Built 1951 1,200 sqft lot Est $147k · at est.

---

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 +22.0/30.0
• 1% rule +8.5/10.0
• DSCR +7.1/10.0
• ARV discount +5.3/15.0
• 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 MLS

Did you want new? Try this one on for size, complete rehab job, new copper plumbing, new electric, new kitchen, new bathroom, new carpet, new paint, new ceiling fans, new furnace, new central air conditioning, new windows. If you are looking for new then you have found it at an affordable price, great corner lot location. This is one that you don't want to miss, beautiful 3 bedroom, 1 bath ranch waiting for you!

Key facts

• New cabinets
• New refrigerator
• Updated kitchen

Tags

• CORNER LOT
• UPDATED KITCHEN
• NEW CABINETS
• NEW REFRIGERATOR
• BEAUTIFUL COUNTERTOPS
• UPDATED FLOORING

Property features AI

Finance

• Other: Age estimated at 71–80 years; Not rebuilt or rehabbed; Parcel number 31363040380000
• HOA & community: No master association fee required

Exterior

• Parking: 1 parking space
• Utilities: Public water service; Public sewer service
• Home design: Detached single-family home; One-story layout; Fee simple ownership; Estimated living area; Built before 1978
• Construction: Brick and frame construction
• Exterior features: Lot dimensions approximately 60 x 20; Lot smaller than 0.25 acre; Public water; Public sewer

Interior

• Kitchen: Kitchen (main level) — 12 x 11
• Bedrooms: Master bedroom (main level) — 12 x 12, carpeted; Bedroom 2 (main level) — 11 x 10, carpeted; Bedroom 3 (main level) — 10 x 9; Bedroom 4
• Flooring: Carpet in master bedroom and Bedroom 2
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: 6 total rooms; Commuter bus and commuter train access
• Laundry & utility: Main-level laundry room — 12 x 8

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $154k.

Deal economics

• At list price, monthly cash flow is $247 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $154k).
• Recommended offer: $149k (3.0% 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: 106 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals leasing fast (median 1d 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 41% 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 38 days — a 3% lower offer ($149k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 19y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $115k; 34% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: property tax is 4.1% of price; built in 1951 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $149,380 (3.0% below list)

Questions for the listing agent

1. It's been on market 38 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. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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: 1.35% ✓
• Cap rate: 8.21%
• Cash-on-cash: 6.86%
• DSCR: 1.31
• GRM: 6.2

CMA / ARV

• ARV (on-the-fly): $146,762
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
310 Nassau St	0.20mi	3/1.0	953 (0%)	1mo	$129,000	$135	90
209 Miami St	0.34mi	2/1.0 (-1)	974 (+2%)	1mo	$108,000	$111	75
223 S Orchard Dr	0.45mi	2/1.0 (-1)	949 (-0%)	0mo	$105,000	$111	73
136 Peach St	0.37mi	2/1.0 (-1)	974 (+2%)	3mo	$163,000	$167	72
429 Natoma St	0.46mi	3/1.0	1,035 (+9%)	0mo	$159,000	$154	64
208 Miami St	0.32mi	3/1.5	1,053 (+10%)	2mo	$175,000	$166	64
316 Mohawk St	0.71mi	2/1.0 (-1)	949 (-0%)	2mo	$141,000	$149	60
254 Blackhawk Dr	0.58mi	2/1.0 (-1)	1,000 (+5%)	2mo	$105,000	$105	58
425 Neosho St	0.37mi	3/1.0	1,092 (+15%)	1mo	$169,900	$156	58
318 Minocqua St	0.73mi	2/1.0 (-1)	974 (+2%)	1mo	$145,000	$149	56
181 Nanti St	0.54mi	3/1.0	1,092 (+15%)	1mo	$179,999	$165	49
434 Shabbona Dr	0.75mi	3/1.0	1,092 (+15%)	0mo	$177,900	$163	41

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: -5.6%
• Equity multiple: 0.79×
• Total profit: $-9,011
• Equity at exit: $22,962

10-year hold

• IRR: 4.2%
• Equity multiple: 1.31×
• Total profit: $13,346
• Equity at exit: $13,315

Cash invested: $43,120 (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: 6.2×

Monthly cashflow live

• Estimated rent: $2,086 high
• Mortgage (P&I): −$808
• Tax from tax record: −$530 /mo · $6,357/yr
• Insurance: −$64
• HOA: −$0
• Vacancy / Maint / Mgmt: −$438
• Net cashflow: $247

Break-even live

Break-even rent $1,774

Max offer price $154,000

Occupancy floor 83%

Sensitivity live

Price	-10% $334	-5% $290	+0% $247	+5% $203	+10% $159
Rent	-10% $82	-5% $164	+0% $247	+5% $329	+10% $411
Rate	-1.0pp $324	-0.5pp $286	base $247	+0.5pp $207	+1.0pp $166

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: $38,500
• Closing costs: $4,620
• Reserves months: —
• Total cash needed: —

Rent comps 7 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	0.43mi
194 Monee Rd Park Forest, IL	3.0	1.0	1092	$1,971	$1.80	23d	1	0.62mi
277 Somonauk St Park Forest, IL	3.0	1.0	966	$2,000	$2.07	4d	1	0.66mi
23439 Western Ave Unit C29 Park Forest, IL	2.0	2.0	975	$1,570	$1.61	0d	1	0.80mi
235 Tampa St Park Forest, IL	3.0	1.0	1092	$2,000	$1.83	25d	1	0.82mi
3324 Western Ave Park Forest, IL	1.0–3.0	1.0	1026	$1,995	$1.94	0d	11	0.88mi
11 Fir St Park Forest, IL	1.0–3.0	1.0	1026	$2,069	$2.02	0d	1	1.00mi

Listing history 28 events

1. 2026-06-21
   days on market $154,000 Active 38 DOM
2. 2026-06-18
   days on market $154,000 Active 35 DOM
3. 2026-06-17
   days on market $154,000 Active 34 DOM
4. 2026-06-16
   days on market $154,000 Active 33 DOM
5. 2026-06-15
   days on market $154,000 Active 32 DOM
6. 2026-06-13
   days on market $154,000 Active 30 DOM
7. 2026-06-09
   days on market $154,000 Active 26 DOM
8. 2026-06-08
   pricedays on market $154,000 Active 25 DOM
9. 2026-06-07
   days on market $159,900 Active 24 DOM
10. 2026-06-04
    days on market $159,900 Active 21 DOM
11. 2026-06-03
    days on market $159,900 Active 20 DOM
12. 2026-06-02
    days on market $159,900 Active 19 DOM
13. 2026-06-01
    days on market $159,900 Active 18 DOM
14. 2026-05-31
    days on market $159,900 Active 17 DOM
15. 2026-05-14
    listed $159,900 Active
16. 2026-01-19
    historical
17. 2025-11-07
    status Active
18. 2025-11-04
    historical
19. 2025-10-16
    price
20. 2025-09-27
    price
21. 2025-09-09
    listed Active
22. 2008-01-10
    soldstatus $115,000
23. 2007-11-26
    soldstatus $114,900 415-char remark

    Show marketing remark (415 chars)

    Did you want new? Try this one on for size, complete rehab job, new copper plumbing, new electric, new kitchen, new bathroom, new carpet, new paint, new ceiling fans, new furnace, new central air conditioning, new windows. If you are looking for new then you have found it at an affordable price, great corner lot location. This is one that you don't want to miss, beautiful 3 bedroom, 1 bath ranch waiting for you!

24. 2007-10-09
    historical 415-char remark

    Show marketing remark (415 chars)

    Did you want new? Try this one on for size, complete rehab job, new copper plumbing, new electric, new kitchen, new bathroom, new carpet, new paint, new ceiling fans, new furnace, new central air conditioning, new windows. If you are looking for new then you have found it at an affordable price, great corner lot location. This is one that you don't want to miss, beautiful 3 bedroom, 1 bath ranch waiting for you!

25. 2007-09-29
    listed $114,900 415-char remark

    Show marketing remark (415 chars)

    Did you want new? Try this one on for size, complete rehab job, new copper plumbing, new electric, new kitchen, new bathroom, new carpet, new paint, new ceiling fans, new furnace, new central air conditioning, new windows. If you are looking for new then you have found it at an affordable price, great corner lot location. This is one that you don't want to miss, beautiful 3 bedroom, 1 bath ranch waiting for you!

26. 1999-05-28
    soldstatus $71,500
27. 1990-06-26
    soldstatus $46,000
28. 1983-09-01
    soldstatus $34,000

ⓘ 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: $6,357 · $530/mo
• Projected year-2 tax: $6,357 · $530/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 3/10 Moderate FEMA zone X (unshaded) · 20% 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: $25,034
• − Mortgage interest: −$8,626
• − Property taxes: −$6,357
• − Insurance: −$770
• − Repairs & maintenance: −$2,003
• − Management: −$2,003
• − Depreciation: −$4,480
• Taxable income: $795
• Est. tax owed @ 24.0%: −$191
• After-tax cash flow: $2,768/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

+370.3% since first listed

14 events — show timeline

• 2026-05-14 Listed $159,900 MRED as Distributed by MLS Grid
• 2026-01-19 Listing Removed — MRED as Distributed by MLS Grid
• 2025-11-07 Relisted — MRED as Distributed by MLS Grid
• 2025-11-04 Listing Removed — MRED as Distributed by MLS Grid
• 2025-10-16 Price Changed — MRED as Distributed by MLS Grid
• 2025-09-27 Price Changed — MRED as Distributed by MLS Grid
• 2025-09-09 Listed — MRED as Distributed by MLS Grid
• 2008-01-10 Sold (Public Records) $115,000 Public Records
• 2007-11-26 Sold (MLS) $114,900 MRED as Distributed by MLS Grid
• 2007-10-09 Listing Removed — MRED as Distributed by MLS Grid
• 2007-09-29 Listed $114,900 MRED as Distributed by MLS Grid
• 1999-05-28 Sold (Public Records) $71,500 Public Records
• 1990-06-26 Sold (Public Records) $46,000 Public Records
• 1983-09-01 Sold (Public Records) $34,000 Public Records

Property tax history

+2.4%/yr

Latest (2023): $6,357 · +1699.7% YoY. Source: county tax records.