372 Yates Ave · Calumet City, IL 60409

$359,900

7 bd · 5.0 ba · 3,480 sqft · MultiFamily public records · 94 Days on market

Built 1972 9,600 sqft lot

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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 +22.9/30.0
• 1% rule +8.2/10.0
• ARV discount +7.5/15.0
• DSCR +7.3/10.0
• Rent growth +4.0/5.0
• Livability +3.6/5.0
• Condition / age +2.5/5.0
• Schools +0.7/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 2 units. estimate disagrees with records

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks

Don't miss this opportunity to own a 4 flat in Calumet City. The building is fully rented. The building has 2 one bedrooms; one 2 bedroom and one 3 bedroom with a laundry room and a two car garage. The building has been well maintained and updated as needed. The lower-level unit has been completed renovated as of 2023. Unit 2 has long-term tenants and they have a new oven range and fridge; unit 3 has been recently rented and it has two new windows, and the unit has been freshly painted and cleaned. Unit 4 has a new bathroom vanity and a new fridge. The photos included pictures of the lower level without appliances. The appliances have been installed and they are all stainless steel and were

Key facts

• 9,600 sq ft lot
• 2 garage spots
• Built 1972

Property features AI

Finance

• Other: Four-unit building total; Individual unit rents and deposits: Unit 1 (2 beds): rent $1,250, security deposit $1,250; Unit 2 (3 beds): rent $1,500, security deposit $1,500; Unit 3 (1 bed): rent $1,025, security deposit $1,025; Unit 4 (1 bed): rent $925, security deposit $800; Lease expirations vary by unit (May 1, 2026; May 1, 2026; June 1, 2027; March 1, 2026); Property holds earnest money and possession at closing
• Financial info: Gross annual income reported at $57,150; Expense examples: water/sewer $250, electric $1,250, trash $142, insurance $4,700

Exterior

• Parking: Detached owned garage providing 2 parking spaces (2 total)
• Utilities: Public water; Public sewer
• Home design: Two- to four-unit property; Fee simple ownership; Oversized Chicago lot (approx. 80 x 120)
• Construction: Brick construction; Built 51–60 years ago; Property built before 1978
• Exterior features: Curbs, sidewalks and street lights; Paved streets; Gated community features

Interior

• Kitchen: Stove and refrigerator in each unit; Microwave included in one unit
• Bedrooms: 6 bedrooms total; Unit breakdown: one 2-bedroom unit, one 3-bedroom unit, and two 1-bedroom units
• Bathrooms: 5 full bathrooms total
• Heating & cooling: Radiator heating
• Interior features: 18 total rooms; Finished full basement
• Laundry & utility: Tenants pay electric

What this means for you Summary

Snapshot

• This is a 2 × 4-bed/2.5-bath units multifamily listed at $360k.

Deal economics

• At list price, monthly cash flow is $631 ($8k/yr) — positive. Per door: $315/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $360k).
• Recommended offer: $328k (9.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 71/100 on livability (#330 in IL) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: employment C-, schools F, crime D-.
• Thornton Twp Hsd 205 (suburban): math 7% / reading 8% proficiency, ranked #594 of 620 in IL (top 96%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: Rents rising fast (+6.2%/yr); 198 active listings in the ZIP; 6,272 units permitted in Cook County in 2024 (4,658 in 5+ unit buildings).
• At $4,747/mo this rent would consume 103% of the median local household income ($55k/yr) (locally 2415% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $11k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 6.2% rent growth), your $101k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 94 days — a 9% lower offer ($328k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 20y 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 $310k; 16% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: property tax is 3.6% of price.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $327,509 (9.0% below list)

Questions for the listing agent

1. It's been on market 94 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1972 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
9. Crime grade is D 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?
10. 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.
11. 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.
12. 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: 1.32% ✓
• Cap rate: 8.40%
• Cash-on-cash: 7.51%
• DSCR: 1.33
• GRM: 6.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 6.17% rent growth · sell at horizon

5-year hold

• IRR: -0.5%
• Equity multiple: 0.98×
• Total profit: $-2,080
• Equity at exit: $53,662

10-year hold

• IRR: 12.8%
• Equity multiple: 2.19×
• Total profit: $120,187
• Equity at exit: $31,118

Cash invested: $100,772 (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 60409

• Home prices YoY: -27.6%
• Rents YoY: 6.2%
• Active inventory: 198
• Price-to-rent: 12.6×

Monthly cashflow live

• Estimated rent: $4,747 high
• Mortgage (P&I): −$1,887
• Tax from tax record: −$1,082 /mo · $12,988/yr
• Insurance: −$150
• HOA: −$0
• Vacancy / Maint / Mgmt: −$997
• Net cashflow: $631

Break-even live

Break-even rent $3,949

Max offer price $359,900

Occupancy floor 82%

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	4	2.5	$4,746
Total (2 units)			$4,747

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: $89,975
• Closing costs: $10,797
• Reserves months: —
• Total cash needed: —

Listing history 21 events

1. 2026-06-18
   days on market $359,900 Active 94 DOM
2. 2026-06-17
   days on market $359,900 Active 93 DOM
3. 2026-06-16
   days on market $359,900 Active 92 DOM
4. 2026-06-15
   days on market $359,900 Active 91 DOM
5. 2026-06-13
   days on market $359,900 Active 89 DOM
6. 2026-06-13
   days on market $359,900 Active 88 DOM
7. 2026-06-09
   days on market $359,900 Active 85 DOM
8. 2026-06-08
   days on market $359,900 Active 84 DOM
9. 2026-06-07
   statusdays on market $359,900 Active 83 DOM
10. 2026-06-04
    days on market $359,900 Contingent - Continue to Show 80 DOM
11. 2026-06-03
    days on market $359,900 Contingent - Continue to Show 79 DOM
12. 2026-06-02
    days on market $359,900 Contingent - Continue to Show 78 DOM
13. 2026-06-01
    days on market $359,900 Contingent - Continue to Show 77 DOM
14. 2026-05-31
    days on market $359,900 Contingent - Continue to Show 76 DOM
15. 2026-04-14
    historical Contingent - Continue to Show
16. 2026-03-16
    listed $359,900 Active
17. 2020-05-29
    historical
18. 2019-05-26
    listed New
19. 2007-01-03
    historical
20. 2006-04-04
    listed
21. 2004-12-16
    soldstatus $310,000

ⓘ 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: $12,988 · $1,082/mo
• Projected year-2 tax: $12,988 · $1,082/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 6/10 Major FEMA zone X (shaded) · 72% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥101°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 0% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $56,964
• − Mortgage interest: −$20,160
• − Property taxes: −$12,988
• − Insurance: −$1,800
• − Repairs & maintenance: −$4,557
• − Management: −$4,557
• − Depreciation: −$10,470
• Taxable income: $2,433
• Est. tax owed @ 24.0%: −$584
• After-tax cash flow: $6,982/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: Thornton Twp Hsd 205
• NCES district ID: 1738970
• Math proficiency: 7% ▬ 0.00%
• Reading proficiency: 8% ▼ -2.00%
• Median HH income: $43,392
• Composite: 6.92/100
• National rank: #9976
• State rank: #594 of 620 in IL

Livability — Calumet City

• Score: 71/100
• State rank: #330
• US rank: #6552

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Calumet City, IL
• County: Cook County · 4,486,803 people
• City population: 35,100
• Metro: Chicago-Naperville-Elgin, IL-IN-WI
• Population (ZIP): 35,100
• Household income: $55,369
• Rent vs Own: 44.3% rent · 55.7% own
• Severe rent burden: 2415.0

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 (74%)
• Race & ethnicity: Black 74% Hispanic / Latino 15% White 7% Two or more races 4%
• Hispanic origin (detail): Mexican 14%
• Common ancestry: Romanian 2%
• Foreign-born: 9% · Canada
• Languages at home: 83% English-only · Spanish 14%

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: ▼ -75.01%
• Current HPI: 197.2137
• Rent YoY: ▲ 6.17%
• 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

+16.1% since first listed

7 events — show timeline

• 2026-04-14 Contingent — MRED as Distributed by MLS Grid
• 2026-03-16 Listed $359,900 MRED as Distributed by MLS Grid
• 2020-05-29 Listing Removed — MRED as Distributed by MLS Grid
• 2019-05-26 Listed — MRED as Distributed by MLS Grid
• 2007-01-03 Listing Removed — MRED as Distributed by MLS Grid
• 2006-04-04 Listed — MRED as Distributed by MLS Grid
• 2004-12-16 Sold (Public Records) $310,000 Public Records

Property tax history

+1.1%/yr

Latest (2023): $12,988 · -3.5% YoY. Source: county tax records.