650 Forsythe Ave · Calumet City, IL 60409

$137,000

2 bd · 1.0 ba · 864 sqft · SingleFamily public records · 110 Days on market

Built 1918 5,625 sqft lot Est $92k · 50% over

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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 +21.7/30.0
• DSCR +6.9/10.0
• 1% rule +5.1/10.0
• Rent growth +4.0/5.0
• Livability +3.6/5.0
• Condition / age +2.5/5.0
• Schools +1.0/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks

Two bedroom home with separate living and dining rooms and a functional floor plan. A heated sun porch offers additional room and flexible space. The property includes a side drive, a two car garage, and ample storage throughout. Recent exterior improvements include a brand new roof, gutters, and soffits. The home requires a complete gut rehab and is being sold as is. An opportunity for renovation, investment, or redevelopment with room to grow and customize. Select photos have been virtually decluttered to better show the space.

Key facts

• Brand new roof
• Heated sun porch
• Ample storage

Tags

• HEATED SUN PORCH
• FUNCTIONAL FLOOR PLAN
• RECENT EXTERIOR IMPROVEMENTS
• BRAND NEW ROOF
• AMPLE STORAGE
• OPPORTUNITY FOR RENOVATION

Property features AI

Finance

• Other: Property assessed using assessor data for living area source; Possession at closing
• HOA & community: No master association fee required

Exterior

• Parking: Detached garage; 2 garage spaces (2 total parking spaces)
• Utilities: Public water; Public sewer
• Home design: Detached single-family home; One-story; Fee simple ownership; Over 100 years old; Built before 1978
• Construction: Aluminum siding construction
• Exterior features: Aluminum siding; Lot dimensions approximately 45 x 125; Lot smaller than 0.25 acre

Interior

• Kitchen: Kitchen on main level (12 x 10)
• Bedrooms: Main-level master bedroom (14 x 12); Main-level bedroom (12 x 10); Two additional bedrooms
• Bathrooms: 1 full bathroom
• Heating & cooling: Natural gas heating; Central air conditioning
• Interior features: Unfinished full basement; 5 total rooms
• Laundry & utility: Laundry room

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $137k.

Deal economics

• At list price, monthly cash flow is $211 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $137k).
• Recommended offer: $125k (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 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; 19 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).
• This rent runs 30% of the median local income ($55k/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 $947 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 6.2% rent growth), your $38k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 110 days — a 9% lower offer ($125k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $74k; list at $137k implies a 86% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1918 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $124,670 (9.0% below list)

Questions for the listing agent

1. It's been on market 110 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1918 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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?
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: 1.01% ✓
• Cap rate: 8.14%
• Cash-on-cash: 6.61%
• DSCR: 1.29
• GRM: 8.2

CMA / ARV

• ARV (on-the-fly): $91,584
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
219 154th Pl	0.23mi	3/1.0 (+1)	860 (-0%)	2mo	$60,000	$70	82
554 Douglas Ave	0.22mi	2/1.0	840 (-3%)	4mo	$108,000	$129	82
607 Forsythe Ave	0.09mi	3/1.0 (+1)	840 (-3%)	9mo	$105,000	$125	78
43 155th St	0.23mi	2/1.0	880 (+2%)	10mo	$27,000	$31	78
608 Forsythe Ave	0.09mi	2/1.0	984 (+14%)	3mo	$137,500	$140	70
422 Garfield Ave	0.43mi	2/2.0	920 (+6%)	1mo	$49,000	$53	64
522 Douglas Ave	0.31mi	3/1.0 (+1)	800 (-7%)	10mo	$71,500	$89	60
723 Greenbay Ave	0.67mi	2/1.0	832 (-4%)	12mo	$137,900	$166	53
527 155th Pl	0.62mi	2/1.0	947 (+10%)	3mo	$82,900	$88	53
674 Memorial Dr	0.75mi	2/1.0	896 (+4%)	11mo	$94,900	$106	50
441 State St	0.52mi	3/1.0 (+1)	964 (+12%)	8mo	$99,000	$103	45
409 Price Ave	0.74mi	3/1.5 (+1)	957 (+11%)	8mo	$160,000	$167	34

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 · 6.17% rent growth · sell at horizon

5-year hold

• IRR: -2.8%
• Equity multiple: 0.89×
• Total profit: $-4,197
• Equity at exit: $20,427

10-year hold

• IRR: 9.9%
• Equity multiple: 1.88×
• Total profit: $33,595
• Equity at exit: $11,845

Cash invested: $38,360 (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: 8.2×

Monthly cashflow live

• Estimated rent: $1,387 high
• Mortgage (P&I): −$718
• Tax from tax record: −$109 /mo · $1,309/yr
• Insurance: −$57
• HOA: −$0
• Vacancy / Maint / Mgmt: −$291
• Net cashflow: $211

Break-even live

Break-even rent $1,120

Max offer price $137,000

Occupancy floor 80%

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: $34,250
• Closing costs: $4,110
• Reserves months: —
• Total cash needed: —

Rent comps 19 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
323 Memorial Dr #1 Calumet City, IL	1.0	1.0	1000	$1,250	$1.25	24d	1	0.32mi
323 Memorial Dr Unit 2 Calumet City, IL	2.0	1.0	1000	$1,600	$1.60	24d	1	0.32mi
5231 Hohman Ave Hammond, IN	1.0	1.0	582	$1,937	$3.33	1d	15	0.35mi
115 157th St Unit 3 Calumet City, IL	3.0	1.0	800	$1,350	$1.69	24d	1	0.47mi
634 Sibley Blvd Calumet City, IL	1.0–2.0	1.0	710	$1,450	$2.04	4d	2	0.53mi
331 157th St Calumet City, IL	1.0	1.0	900	$1,100	$1.22	24d	1	0.57mi
3 Ruth St Hammond, IN	2.0	1.0	900	$1,250	$1.39	24d	1	0.71mi
5 Ruth St Unit 2W Hammond, IN	2.0	1.0	900	$1,250	$1.39	12d	1	0.71mi
5950 Hohman Ave Unit 416 Hammond, IN	1.0	1.0	550	$1,095	$1.99	6d	1	0.86mi
5940 Hyslop Pl #226 Hammond, IN	1.0	1.0	800	$950	$1.19	1d	1	0.86mi
486 Buffalo Ave Unit 1D Calumet City, IL	1.0	1.0	800	$975	$1.22	24d	1	0.88mi
486 Buffalo Ave Unit 1C Calumet City, IL	1.0	1.0	800	$1,500	$1.88	24d	1	0.89mi
5945 Hyslop Pl Unit 204 Hammond, IN	1.0	1.0	700	$1,195	$1.71	24d	1	0.90mi
230 Wildwood Rd Unit 103 Hammond, IN	1.0	1.0	750	$1,295	$1.73	24d	1	1.23mi
407 Kenwood St Hammond, IN	2.0	1.0	920	$1,495	$1.62	16d	1	1.32mi
407 Kenwood St Hammond, IN	2.0	1.0	920	$1,495	$1.62	24d	1	1.32mi
4724 Pine Ave Unit 4726 Hammond, IN	2.0	1.0	650	$1,000	$1.54	5d	1	1.34mi
2790 E State St Apt 2E Burnham, IL	3.0	2.0	1100	$1,695	$1.54	24d	1	1.44mi
1338 Wentworth Ave Unit 1338 Calumet City, IL	2.0	1.0	800	$1,430	$1.79	24d	1	1.47mi

Listing history 5 events

1. 2026-05-31
   days on market $137,000 Active 110 DOM
2. 2026-04-03
   price $137,000
3. 2026-03-02
   price $139,000
4. 2026-02-10
   listed $140,000 Active
5. 2003-08-19
   soldstatus $73,500

ⓘ 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: $1,309 · $109/mo
• Projected year-2 tax: $2,210 · $184/mo
• Expected delta: +$900/yr (+$75/mo · 68.8%)

ⓘ 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 ≥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: $16,647
• − Mortgage interest: −$7,674
• − Property taxes: −$1,309
• − Insurance: −$685
• − Repairs & maintenance: −$1,332
• − Management: −$1,332
• − Depreciation: −$3,985
• Taxable income: $329
• Est. tax owed @ 24.0%: −$79
• After-tax cash flow: $2,456/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

+86.4% since first listed

4 events — show timeline

• 2026-04-03 Price Changed $137,000 MRED as Distributed by MLS Grid
• 2026-03-02 Price Changed $139,000 MRED as Distributed by MLS Grid
• 2026-02-10 Listed $140,000 MRED as Distributed by MLS Grid
• 2003-08-19 Sold (Public Records) $73,500 Public Records

Property tax history

-2.5%/yr

Latest (2023): $1,309 · +194.6% YoY. Source: county tax records.