302 161st St · Calumet City, IL 60409

$75,000

2 bd · 1.0 ba · 748 sqft · SingleFamily public records · 71 Days on market

Built 1908 750 sqft lot

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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
• Rent growth +4.0/5.0
• Livability +3.6/5.0
• Condition / age +2.5/5.0
• Schools +1.0/10.0
• Appreciation +0.0/10.0

Listing remarks

CORPORATE OWNED Single Family Home Sold AS-IS WITH A MOTIVATED SELLER. GREAT OPPORTUNITY FOR RESTORATION AT THIS PRICE. VACANT AND EASY TO SHOW. PLEASE INSPECT PRIOR TO SUBMITTING AN OFFER SINCE WE ARE SELLING "AS-IS". Proof of funds required for access and for offers to be considered. PLEASE NOTE: THE SELLER WILL PAY CURRENT AND ALL PRIOR TAX BUT 0% CREDIT FOR FUTURE BILLS. NO SURVEY. EXPERIENCED & QUALIFIED DEVELOPERS ONLY. NO wholesale or reselling before rehab is complete. Seller does not collect earnest money, but prefers accelerated closing dates. Property will be transferred via Quit Claim Deed and owners' policy will be provided to insure the transaction. Buyer respo

Key facts

• 2 parking spots
• Built 1908
• Listed 71 days

Property features AI

Finance

• Other: Possession at closing; Some photos are virtually staged
• HOA & community: No master association fees required

Exterior

• Parking: 2 owned parking spaces
• Utilities: Public water; Public sewer
• Home design: Detached single-family home; 1.5-story; Fee simple ownership; Estimated living area; Property over 100 years old; Built before 1978
• Construction: Aluminum siding construction
• Exterior features: Aluminum siding; Lot dimensions approximately 25 x 30; Lot smaller than 0.25 acre

Interior

• Kitchen: Kitchen on the main level
• Bedrooms: 2 bedrooms (both on the main level); Master bedroom on the main level
• Bathrooms: 1 full bathroom
• Heating & cooling: Natural gas heating; Central air conditioning
• Interior features: Unfinished, partial basement; 3 total rooms
• Laundry & utility: Dedicated laundry room

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $75k.

Deal economics

• At list price, monthly cash flow is $315 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $75k).
• Recommended offer: $70k (6.0% below list) — sets the bar for market timing.
• Cap rate 11.3% vs local median 8.2% in Calumet City — 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 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 Fractional Twp Hsd 215 (suburban): math 9% / reading 13% proficiency, ranked #563 of 620 in IL (top 91%) — 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; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 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 $519 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 6.2% rent growth), your $21k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 71 days — a 6% lower offer ($70k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 3y 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 $37k; list at $75k implies a 103% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 5.0% of price; built in 1908 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $70,500 (6.0% below list)

Questions for the listing agent

1. It's been on market 71 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1908 — 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 1.77% ✓
• Cap rate: 11.34%
• Cash-on-cash: 18.01%
• DSCR: 1.80
• GRM: 4.7

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: 14.1%
• Equity multiple: 1.59×
• Total profit: $12,458
• Equity at exit: $11,183

10-year hold

• IRR: 25.8%
• Equity multiple: 3.69×
• Total profit: $56,507
• Equity at exit: $6,485

Cash invested: $21,000 (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: 4.7×

Monthly cashflow live

• Estimated rent: $1,331 medium
• Mortgage (P&I): −$393
• Tax from tax record: −$312 /mo · $3,739/yr
• Insurance: −$31
• HOA: −$0
• Vacancy / Maint / Mgmt: −$279
• Net cashflow: $315

Break-even live

Break-even rent $932

Max offer price $75,000

Occupancy floor 71%

Sensitivity live

Price	-10% $585	-5% $559	+0% $315	+5% $294	+10% $273
Rent	-10% $210	-5% $263	+0% $315	+5% $368	+10% $420
Rate	-1.0pp $353	-0.5pp $334	base $315	+0.5pp $296	+1.0pp $276

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: $18,750
• Closing costs: $2,250
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
230 Wildwood Rd Unit 103 Hammond, IN	1.0	1.0	750	$1,295	$1.73	25d	1	0.81mi
5950 Hohman Ave Unit 416 Hammond, IN	1.0	1.0	550	$1,095	$1.99	6d	1	0.86mi
237 Highland St Unit 401 Hammond, IN	1.0	1.0	500	$1,020	$2.04	25d	1	0.92mi
5945 Hyslop Pl Unit 204 Hammond, IN	1.0	1.0	700	$1,195	$1.71	25d	1	0.95mi

Listing history 29 events

1. 2026-06-18
   days on market $75,000 Active 71 DOM
2. 2026-06-17
   days on market $75,000 Active 70 DOM
3. 2026-06-16
   days on market $75,000 Active 69 DOM
4. 2026-06-15
   days on market $75,000 Active 68 DOM
5. 2026-06-13
   days on market $75,000 Active 66 DOM
6. 2026-06-09
   days on market $75,000 Active 62 DOM
7. 2026-06-08
   days on market $75,000 Active 61 DOM
8. 2026-06-07
   days on market $75,000 Active 60 DOM
9. 2026-06-04
   days on market $75,000 Active 57 DOM
10. 2026-06-03
    days on market $75,000 Active 56 DOM
11. 2026-06-02
    days on market $75,000 Active 55 DOM
12. 2026-06-01
    days on market $75,000 Active 54 DOM
13. 2026-05-31
    days on market $75,000 Active 53 DOM
14. 2026-04-08
    listed $75,000 Active
15. 2026-04-08
    historical
16. 2026-03-04
    listed Active
17. 2026-03-04
    historical
18. 2026-01-15
    status Active
19. 2025-12-13
    status Pending
20. 2025-11-06
    listed Active
21. 2024-01-27
    historical
22. 2024-01-26
    status Temporarily No Showings
23. 2023-12-24
    historical
24. 2023-11-01
    status Active
25. 2023-10-31
    historical
26. 2023-06-06
    status Active
27. 2023-05-31
    historical
28. 2023-03-24
    listed Active
29. 1989-05-02
    soldstatus $37,000

ⓘ 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: $3,739 · $312/mo
• Projected year-2 tax: $3,739 · $312/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 ≥102°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 5 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,970
• − Mortgage interest: −$4,201
• − Property taxes: −$3,739
• − Insurance: −$375
• − Repairs & maintenance: −$1,278
• − Management: −$1,278
• − Depreciation: −$2,182
• Taxable income: $2,918
• Est. tax owed @ 24.0%: −$700
• After-tax cash flow: $3,082/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 Fractional Twp Hsd 215
• NCES district ID: 1738940
• Math proficiency: 9% ▼ -3.00%
• Reading proficiency: 13% ▼ -3.00%
• Median HH income: $48,207
• Composite: 10.27/100
• National rank: #9793
• State rank: #563 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

+102.7% since first listed

16 events — show timeline

• 2026-04-08 Listed $75,000 MRED as Distributed by MLS Grid
• 2026-04-08 Listing Removed — MRED as Distributed by MLS Grid
• 2026-03-04 Listing Removed — MRED as Distributed by MLS Grid
• 2026-03-04 Listed — MRED as Distributed by MLS Grid
• 2026-01-15 Relisted — MRED as Distributed by MLS Grid
• 2025-12-13 Pending — MRED as Distributed by MLS Grid
• 2025-11-06 Listed — MRED as Distributed by MLS Grid
• 2024-01-27 Listing Removed — MRED as Distributed by MLS Grid
• 2024-01-26 Relisted — MRED as Distributed by MLS Grid
• 2023-12-24 Listing Removed — MRED as Distributed by MLS Grid
• 2023-11-01 Relisted — MRED as Distributed by MLS Grid
• 2023-10-31 Listing Removed — MRED as Distributed by MLS Grid
• 2023-06-06 Relisted — MRED as Distributed by MLS Grid
• 2023-05-31 Listing Removed — MRED as Distributed by MLS Grid
• 2023-03-24 Listed — MRED as Distributed by MLS Grid
• 1989-05-02 Sold (Public Records) $37,000 Public Records

Property tax history

+1.7%/yr

Latest (2023): $3,739 · +49.7% YoY. Source: county tax records.