705 May St · Calumet City, IL 60409

$99,900

3 bd · 1.0 ba · 1,092 sqft · SingleFamily public records · 56 Days on market

Built 1988 Est $108k · 8% under

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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
• ARV discount +10.9/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• 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

Exciting opportunity! This brick and frame Ranch offers 3 bedrooms, 1 bath a 2-car detached garage! This property is waiting for the right owner to unlock its full potential and turn it into a stunning home. Conveniently located near shopping and transportation, this is ideal for a first-time buyer ready to transform it into a fabulous living space or an investor looking to add to their rental portfolio.

Key facts

• 2 garage spots
• Built 1988
• Listed 56 days

Property features AI

Finance

• Other: Fee simple ownership
• HOA & community: No master association fee required

Exterior

• Parking: Detached garage (2 car total parking spaces)
• Utilities: Public water; Public sewer
• Home design: Detached single-family home; One-story
• Construction: Brick and frame construction; Built 31–40 years ago; Not rebuilt or rehabbed; Built after 1978
• Exterior features: Lot less than 0.25 acre; Lot dimensions: 0.05

Interior

• Kitchen: Kitchen (Main, 12 x 12)
• Bedrooms: Master bedroom (Main, 13 x 11); Bedroom (Main, 11 x 9); Bedroom (Main, 12 x 10)
• Bathrooms: One full bathroom
• Heating & cooling: Natural gas forced-air heating
• Interior features: Five total rooms; Dining room; Family room; Living room (18 x 12)
• Laundry & utility: Laundry room

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $100k.

Deal economics

• At list price, monthly cash flow is $676 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $100k).
• Recommended offer: $97k (3.0% below list) — sets the bar for market timing.
• Cap rate 14.4% 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; 17 comparable units currently listed for rent nearby; rentals leasing fast (median 13d 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 38% 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 $691 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 6.2% rent growth), your $28k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 56 days — a 3% lower offer ($97k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $62k; list at $100k implies a 60% gain — meaningful room to come down on a strong offer.

Recommended offer $96,903 (3.0% below list)

Questions for the listing agent

1. It's been on market 56 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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.
6. 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.
7. 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: 1.74% ✓
• Cap rate: 14.42%
• Cash-on-cash: 29.01%
• DSCR: 2.29
• GRM: 4.8

CMA / ARV

• ARV (on-the-fly): $108,108
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
503 Webb St	0.45mi	2/1.0 (-1)	1,093 (+0%)	1mo	$20,000	$18	73
518 156th Pl	0.30mi	3/2.0	1,165 (+7%)	3mo	$167,000	$143	68
811 Sibley Blvd	0.55mi	3/2.0	1,078 (-1%)	2mo	$155,000	$144	67
1129 Sibley Blvd	0.60mi	3/1.0	1,075 (-2%)	3mo	$106,000	$99	66
228 154th Pl	0.52mi	3/2.0	1,120 (+3%)	3mo	$39,900	$36	65
302 153rd St	0.48mi	3/1.0	1,016 (-7%)	2mo	$175,000	$172	64
866 Greenbay Ave	0.40mi	3/2.0	1,163 (+6%)	3mo	$200,000	$172	64
303 W 153rd Pl	0.46mi	3/1.0	1,188 (+9%)	1mo	$65,000	$55	63
527 155th Pl	0.21mi	2/1.0 (-1)	947 (-13%)	3mo	$82,900	$88	61
423 157th St	0.44mi	4/1.5 (+1)	1,212 (+11%)	1mo	$25,000	$21	53
419 157th St	0.44mi	4/2.0 (+1)	957 (-12%)	3mo	$80,000	$84	47
608 Forsythe Ave	0.73mi	2/1.0 (-1)	984 (-10%)	3mo	$137,500	$140	42

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: 27.0%
• Equity multiple: 2.17×
• Total profit: $32,637
• Equity at exit: $14,895

10-year hold

• IRR: 36.4%
• Equity multiple: 4.90×
• Total profit: $109,056
• Equity at exit: $8,638

Cash invested: $27,972 (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: 4.8×

Monthly cashflow live

• Estimated rent: $1,738 high
• Mortgage (P&I): −$524
• Tax from tax record: −$131 /mo · $1,572/yr
• Insurance: −$42
• HOA: −$0
• Vacancy / Maint / Mgmt: −$365
• Net cashflow: $676

Break-even live

Break-even rent $882

Max offer price $99,900

Occupancy floor 56%

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: $24,975
• Closing costs: $2,997
• Reserves months: —
• Total cash needed: —

Rent comps 17 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
323 Memorial Dr Unit 2 Calumet City, IL	2.0	1.0	1000	$1,600	$1.60	24d	1	0.47mi
634 Sibley Blvd Calumet City, IL	1.0–2.0	1.0	710	$1,450	$2.04	4d	2	0.64mi
115 157th St Unit 3 Calumet City, IL	3.0	1.0	800	$1,350	$1.69	24d	1	0.74mi
671 Saginaw Ave Calumet City, IL	3.0	2.0	1250	$2,276	$1.82	10d	1	0.86mi
34 Elizabeth St Calumet City, IL	3.0	1.0	1246	$2,400	$1.93	1d	1	0.99mi
3 Ruth St Hammond, IN	2.0	1.0	900	$1,250	$1.39	24d	1	0.99mi
5 Ruth St Unit 2W Hammond, IN	2.0	1.0	900	$1,250	$1.39	12d	1	0.99mi
3 Waltham St Hammond, IN	3.0	1.0	1200	$1,095	$0.91	24d	1	1.02mi
2790 E State St Apt 2E Burnham, IL	3.0	2.0	1100	$1,695	$1.54	24d	1	1.14mi
460 Hoxie Ave Unit R Calumet City, IL	2.0	1.0	800	$1,650	$2.06	7d	1	1.17mi
460 Hoxie Ave Unit R Calumet City, IL	2.0	1.0	800	$1,650	$2.06	13d	1	1.17mi
2605 E Martha Pl Chicago, IL	2.0	2.0	1353	$1,860	$1.37	22d	1	1.24mi
1312 Gordon Ave Calumet City, IL	2.0	1.0	1134	$1,600	$1.41	7d	1	1.28mi
659 Paxton Ave Calumet City, IL	3.0	2.0	1255	$2,461	$1.96	10d	1	1.42mi
1338 Wentworth Ave Unit 1338 Calumet City, IL	2.0	1.0	800	$1,430	$1.79	24d	1	1.44mi
14501 S Torrence Ave Chicago, IL	1.0–2.0	1.0	737	$1,250	$1.69	12d	2	1.48mi
14501 Torrence Ave Unit 3A Burnham, IL	2.0	1.0	800	$1,250	$1.56	10d	1	1.48mi

Listing history 17 events

1. 2026-06-18
   days on market $99,900 Active 56 DOM
2. 2026-06-17
   days on market $99,900 Active 55 DOM
3. 2026-06-16
   days on market $99,900 Active 54 DOM
4. 2026-06-15
   days on market $99,900 Active 53 DOM
5. 2026-06-13
   days on market $99,900 Active 51 DOM
6. 2026-06-09
   days on market $99,900 Active 47 DOM
7. 2026-06-08
   days on market $99,900 Active 46 DOM
8. 2026-06-07
   days on market $99,900 Active 45 DOM
9. 2026-06-04
   days on market $99,900 Active 42 DOM
10. 2026-06-03
    days on market $99,900 Active 41 DOM
11. 2026-06-02
    days on market $99,900 Active 40 DOM
12. 2026-06-01
    days on market $99,900 Active 39 DOM
13. 2026-05-31
    days on market $99,900 Active 38 DOM
14. 2026-04-23
    listed $99,900 Active
15. 1996-03-20
    soldstatus $62,500
16. 1988-08-30
    soldstatus $50,000
17. 1988-03-16
    soldstatus $10,000

ⓘ 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: $1,572 · $131/mo
• Projected year-2 tax: $1,920 · $160/mo
• Expected delta: +$348/yr (+$29/mo · 22.1%)

ⓘ 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: $20,853
• − Mortgage interest: −$5,596
• − Property taxes: −$1,572
• − Insurance: −$500
• − Repairs & maintenance: −$1,668
• − Management: −$1,668
• − Depreciation: −$2,906
• Taxable income: $6,943
• Est. tax owed @ 24.0%: −$1,666
• After-tax cash flow: $6,450/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

+899.0% since first listed

4 events — show timeline

• 2026-04-23 Listed $99,900 MRED as Distributed by MLS Grid
• 1996-03-20 Sold (Public Records) $62,500 Public Records
• 1988-08-30 Sold (Public Records) $50,000 Public Records
• 1988-03-16 Sold (Public Records) $10,000 Public Records

Property tax history

+0.6%/yr

Latest (2023): $1,572 · +1.0% YoY. Source: county tax records.