None · Calumet City, IL 60409

$400,000

12 bd · 5.0 ba · 3,250 sqft · MultiFamily public records · 8 Days on market

Built 1911 5,850 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

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 7 units. estimate disagrees with records

Listing remarks

11 E 157th St. presents investors with the opportunity to acquire a 7-unit multifamily property in Calumet City, Illinois, at a list price of $400,000. The property consists of (1) 2-bedroom / 1-bathroom unit and (6) 1-bedroom / 1-bathroom units, totaling approximately 5,000 square feet. The current ownership has also completed recent upgrades and improvements to the property, including roof repairs and unit renovations. These capital improvements help support the property's current rental performance while reducing near-term ownership concerns for a new investor. At the list price, the property is being offered at approximately $57,143 per unit and $80 per square foot. Based on the list

Key facts

• Roof repairs
• Strong cash flow
• Recent upgrades

Tags

• 7 UNIT MULTIFAMILY PROPERTY
• RECENT UPGRADES
• ROOF REPAIRS
• UNIT RENOVATIONS
• STRONG CASH FLOW

What this means for you Summary

Snapshot

• This is a 7 × 8-bed/12.0-bath units multifamily listed at $400k.

Deal economics

• At list price, monthly cash flow is $8k ($98k/yr) — positive. Per door: $1k/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($14k rent vs $400k).
• Cap rate 30.8% 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; 6,272 units permitted in Cook County in 2024 (4,658 in 5+ unit buildings).
• At $14,045/mo this rent would consume 304% 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 $3k of loan paydown is wiped out by about $12k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 6.2% rent growth), your $112k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.
• 6 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 $148k; list at $400k implies a 170% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1911 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $400,000

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1911 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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.
8. 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.
9. 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: 3.51% ✓
• Cap rate: 30.77%
• Cash-on-cash: 87.41%
• DSCR: 4.89
• GRM: 2.4

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: 91.6%
• Equity multiple: 5.48×
• Total profit: $501,328
• Equity at exit: $59,641

10-year hold

• IRR: 95.2%
• Equity multiple: 12.69×
• Total profit: $1,309,350
• Equity at exit: $34,585

Cash invested: $112,000 (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: 16.6×

Monthly cashflow live

• Estimated rent: $14,045 medium
• Mortgage (P&I): −$2,098
• Tax from tax record: −$673 /mo · $8,075/yr
• Insurance: −$167
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,949
• Net cashflow: $8,158

Break-even live

Break-even rent $3,718

Max offer price $400,000

Occupancy floor 37%

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

Units	Beds	Baths	Est. rent
▸ 7× units	8	12	$14,042
Total (7 units)			$14,045

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: $100,000
• Closing costs: $12,000
• Reserves months: —
• Total cash needed: —

Listing history 6 events

1. 2026-06-18
   days on market $400,000 Active 8 DOM
2. 2026-06-17
   days on market $400,000 Active 7 DOM
3. 2026-06-16
   days on market $400,000 Active 6 DOM
4. 2026-06-15
   days on market $400,000 Active 5 DOM
5. 2026-06-13
   remarks 699-char remark
6. 2026-06-13
   listed $400,000 Active 3 DOM

ⓘ 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: $8,075 · $673/mo
• Projected year-2 tax: $8,577 · $715/mo
• Expected delta: +$503/yr (+$42/mo · 6.2%)

ⓘ 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: $168,540
• − Mortgage interest: −$22,406
• − Property taxes: −$8,075
• − Insurance: −$2,000
• − Repairs & maintenance: −$13,483
• − Management: −$13,483
• − Depreciation: −$11,636
• Taxable income: $97,456
• Est. tax owed @ 24.0%: −$23,389
• After-tax cash flow: $74,511/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: 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

+300.0% since first listed

15 events — show timeline

• 2026-06-09 Listed $400,000 MRED as Distributed by MLS Grid
• 2024-08-13 Listing Removed — MRED as Distributed by MLS Grid
• 2024-06-24 Relisted — MRED as Distributed by MLS Grid
• 2024-06-22 Listing Removed — MRED as Distributed by MLS Grid
• 2024-06-11 Listed — MRED as Distributed by MLS Grid
• 2024-06-07 Listing Removed — MRED as Distributed by MLS Grid
• 2024-05-07 Listed — MRED as Distributed by MLS Grid
• 2008-04-07 Listing Removed — MRED as Distributed by MLS Grid
• 2007-09-07 Listed — MRED as Distributed by MLS Grid
• 2007-03-06 Listing Removed — MRED as Distributed by MLS Grid
• 2006-09-06 Listed — MRED as Distributed by MLS Grid
• 1997-01-07 Sold (Public Records) $176,000 Public Records
• 1997-01-07 Sold (Public Records) $148,000 Public Records
• 1992-06-03 Sold (Public Records) $122,500 Public Records
• 1984-07-25 Sold (Public Records) $100,000 Public Records

Property tax history

+0.9%/yr

Latest (2023): $8,075 · -13.9% YoY. Source: county tax records.