100 Luella Ave · Calumet City, IL 60409

$349,900

8 bd · 4.5 ba · 4,134 sqft · MultiFamily public records · 374 Days on market

Built 1963

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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 +0.7/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 3 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 MLS

There are no remarks available.

Key facts

• Great location
• 4 parking spots
• Built 1963

Tags

• SEPARATE LAUNDRY FACILITIES
• REAR PRIVATE PARKING LOT
• GREAT LOCATION

Property features AI

Finance

• Financial info: Special service area: No; Units are income-producing: current rents reported — 1st-floor unit $1,325, 2nd-floor unit $1,800, 3rd-floor unit $1,300; security deposits listed for each unit

Exterior

• Parking: 4 owned parking spaces
• Utilities: Water supply: Lake Michigan; Public sewer
• Home design: Two- to four-unit residential building; Fee simple ownership; 3-unit building
• Construction: Brick construction; Built approximately 61–70 years ago; Property was built before 1978
• Exterior features: Balcony; Curbs, sidewalks, street lights, and paved streets

Interior

• Kitchen: Each unit includes stove and refrigerator
• Bedrooms: 8 total bedrooms; Includes a 2-bedroom unit (1st floor), a 3-bedroom unit (2nd floor), and a 3-bedroom unit (3rd floor)
• Bathrooms: 4 full bathrooms and 1 half bathroom overall; Unit breakdown: 1st-floor unit has 1 full bath; 2nd-floor unit has 1 full and 1 half; 3rd-floor unit has 2 full baths
• Heating & cooling: Natural gas heating with forced air
• Interior features: 14 total rooms; School bus service and commuter bus access; close to interstate
• Laundry & utility: Tenants pay electric and gas (utilities paid by tenants)

What this means for you Summary

Snapshot

• This is a 3 × 3-bed/1.5-bath units multifamily listed at $350k.

Deal economics

• At list price, monthly cash flow is $2k ($19k/yr) — positive. Per door: $518/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($6k rent vs $350k).
• Recommended offer: $308k (12.0% below list) — sets the bar for market timing.
• Cap rate 11.6% vs local median 8.3% 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-, crime D-, amenities F.
• 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.
• Zoned schools: Caroline Sibley Elem School (math 0% / reading 5%, grade F, #1,923 of 2,056 statewide, top 94%, 518 students, 0% FRL); Creative Communications Acad (math 2% / reading 2%, grade F, #660 of 665 statewide, top 100%, 177 students, 0% FRL); Thornridge High School (math 8% / reading 8%, grade F, #589 of 693 statewide, top 86%, 1,057 students, 0% FRL).
• Market conditions: Rents rising fast (+6.2%/yr); 196 active listings in the ZIP; 6,272 units permitted in Cook County in 2024 (4,658 in 5+ unit buildings).
• At $6,054/mo this rent would consume 131% 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 $10k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 6.2% rent growth), your $98k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 374 days — a 12% lower offer ($308k) is reasonable based on typical stale-listing flexibility.
• 15 sale attempts since 19y ago; this cycle's ask has dropped $30k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $121k; list at $350k implies a 189% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 4.3% of price.

Recommended offer $307,912 (12.0% below list)

Questions for the listing agent

1. It's been on market 374 days. Have you received any prior offers? Is the seller open to a 12% 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 1963 — 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: 1.73% ✓
• Cap rate: 11.62%
• Cash-on-cash: 19.02%
• DSCR: 1.85
• GRM: 4.8

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: 15.2%
• Equity multiple: 1.64×
• Total profit: $62,727
• Equity at exit: $52,171

10-year hold

• IRR: 26.6%
• Equity multiple: 3.77×
• Total profit: $271,641
• Equity at exit: $30,253

Cash invested: $97,972 (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: 196
• Price-to-rent: 14.4×

Monthly cashflow live

• Estimated rent: $6,054 high
• Mortgage (P&I): −$1,835
• Tax from tax record: −$1,249 /mo · $14,987/yr
• Insurance: −$146
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,271
• Net cashflow: $1,553

Break-even live

Break-even rent $4,088

Max offer price $349,900

Occupancy floor 69%

Sensitivity live

Price	-10% $1,751	-5% $1,652	+0% $1,553	+5% $1,454	+10% $1,355
Rent	-10% $1,075	-5% $1,314	+0% $1,553	+5% $1,792	+10% $2,031
Rate	-1.0pp $1,729	-0.5pp $1,642	base $1,553	+0.5pp $1,462	+1.0pp $1,370

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

Units	Beds	Baths	Est. rent
▸ 3× units	3	1.5	$6,054
Total (3 units)			$6,054

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: $87,475
• Closing costs: $10,497
• Reserves months: —
• Total cash needed: —

Listing history 50 events

1. 2026-05-12
   status Pending
2. 2026-04-28
   historical Contingent - No Showings
3. 2026-04-15
   status Active
4. 2026-03-29
   historical Contingent - No Showings
5. 2026-02-18
   status Active
6. 2026-02-06
   historical Contingent - No Showings
7. 2026-01-21
   status Active
8. 2025-12-26
   status Active
9. 2025-12-22
   status Pending
10. 2025-11-24
    historical Contingent - No Showings
11. 2025-10-29
    status Active
12. 2025-10-28
    historical
13. 2025-10-24
    status Active
14. 2025-10-18
    historical Contingent - No Showings
15. 2025-08-23
    price $349,900
16. 2025-07-14
    price $354,900
17. 2025-06-17
    price $365,000
18. 2025-05-31
    price $374,900
19. 2025-04-28
    listed $379,900 Active
20. 2020-09-15
    soldstatus $121,000
21. 2020-07-07
    soldstatus $121,000 Closed Sale 31-char remark

    Show marketing remark (31 chars)

    There are no remarks available.

22. 2020-04-24
    status Pending 31-char remark

    Show marketing remark (31 chars)

    There are no remarks available.

23. 2020-04-01
    price $138,500 31-char remark

    Show marketing remark (31 chars)

    There are no remarks available.

24. 2020-02-19
    status Reactivated 31-char remark

    Show marketing remark (31 chars)

    There are no remarks available.

25. 2020-02-04
    historical Contingent 31-char remark

    Show marketing remark (31 chars)

    There are no remarks available.

26. 2020-01-31
    status Reactivated 31-char remark

    Show marketing remark (31 chars)

    There are no remarks available.

27. 2019-12-31
    historical 31-char remark

    Show marketing remark (31 chars)

    There are no remarks available.

28. 2019-11-21
    price $139,000 31-char remark

    Show marketing remark (31 chars)

    There are no remarks available.

29. 2019-11-21
    status Reactivated 31-char remark

    Show marketing remark (31 chars)

    There are no remarks available.

30. 2019-09-03
    status Pending 31-char remark

    Show marketing remark (31 chars)

    There are no remarks available.

31. 2019-08-03
    price $149,000 31-char remark

    Show marketing remark (31 chars)

    There are no remarks available.

32. 2019-08-02
    status Price Change 31-char remark

    Show marketing remark (31 chars)

    There are no remarks available.

33. 2019-05-31
    historical Contingent 31-char remark

    Show marketing remark (31 chars)

    There are no remarks available.

34. 2019-05-18
    price $135,000 31-char remark

    Show marketing remark (31 chars)

    There are no remarks available.

35. 2019-05-07
    price $137,500 31-char remark

    Show marketing remark (31 chars)

    There are no remarks available.

36. 2019-04-24
    status Reactivated 31-char remark

    Show marketing remark (31 chars)

    There are no remarks available.

37. 2019-04-05
    historical Contingent 31-char remark

    Show marketing remark (31 chars)

    There are no remarks available.

38. 2019-02-21
    price $139,900 31-char remark

    Show marketing remark (31 chars)

    There are no remarks available.

39. 2019-01-07
    price $142,400 31-char remark

    Show marketing remark (31 chars)

    There are no remarks available.

40. 2018-12-29
    price $144,900 31-char remark

    Show marketing remark (31 chars)

    There are no remarks available.

41. 2018-12-22
    price $147,400 31-char remark

    Show marketing remark (31 chars)

    There are no remarks available.

42. 2018-10-20
    listed $149,000 New 31-char remark

    Show marketing remark (31 chars)

    There are no remarks available.

43. 2013-08-23
    soldstatus $90,000
44. 2010-01-15
    soldstatus $63,000 Closed Sale 269-char remark

    Show marketing remark (269 chars)

    CORPORATED OWNED-SOLD AS IS-SELLER WILL NOT PROVIDE SURVEY OR TERMITE INSPECTION-BUYER RESPONSIBLE FOR ANY/ALL INSPECTIONS, COMPLIANCES & ESCROWS AS NEEDED-ALL OFFERS MUST HAVE LOAN COMMITTMENT OR PROOF OF FUNDS FOR CASH OFFERS-ADDENDUMS TO FOLLOW ACCEPTED OFFER.

45. 2009-12-15
    status Pending 269-char remark

    Show marketing remark (269 chars)

    CORPORATED OWNED-SOLD AS IS-SELLER WILL NOT PROVIDE SURVEY OR TERMITE INSPECTION-BUYER RESPONSIBLE FOR ANY/ALL INSPECTIONS, COMPLIANCES & ESCROWS AS NEEDED-ALL OFFERS MUST HAVE LOAN COMMITTMENT OR PROOF OF FUNDS FOR CASH OFFERS-ADDENDUMS TO FOLLOW ACCEPTED OFFER.

46. 2009-12-03
    price $69,900 Price Change 269-char remark

    Show marketing remark (269 chars)

    CORPORATED OWNED-SOLD AS IS-SELLER WILL NOT PROVIDE SURVEY OR TERMITE INSPECTION-BUYER RESPONSIBLE FOR ANY/ALL INSPECTIONS, COMPLIANCES & ESCROWS AS NEEDED-ALL OFFERS MUST HAVE LOAN COMMITTMENT OR PROOF OF FUNDS FOR CASH OFFERS-ADDENDUMS TO FOLLOW ACCEPTED OFFER.

47. 2009-11-20
    listed $74,900 New 269-char remark

    Show marketing remark (269 chars)

    CORPORATED OWNED-SOLD AS IS-SELLER WILL NOT PROVIDE SURVEY OR TERMITE INSPECTION-BUYER RESPONSIBLE FOR ANY/ALL INSPECTIONS, COMPLIANCES & ESCROWS AS NEEDED-ALL OFFERS MUST HAVE LOAN COMMITTMENT OR PROOF OF FUNDS FOR CASH OFFERS-ADDENDUMS TO FOLLOW ACCEPTED OFFER.

48. 2008-07-05
    historical
49. 2007-10-06
    listed
50. 2006-06-16
    soldstatus $330,000

ⓘ 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: $14,987 · $1,249/mo
• Projected year-2 tax: $14,987 · $1,249/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 4/10 Moderate FEMA zone X (unshaded) · 24% 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
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $72,648
• − Mortgage interest: −$19,600
• − Property taxes: −$14,987
• − Insurance: −$1,750
• − Repairs & maintenance: −$5,812
• − Management: −$5,812
• − Depreciation: −$10,179
• Taxable income: $14,509
• Est. tax owed @ 24.0%: −$3,482
• After-tax cash flow: $15,154/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

+218.1% since first listed

54 events — show timeline

• 2026-05-12 Pending — MRED as Distributed by MLS Grid
• 2026-04-28 Contingent — MRED as Distributed by MLS Grid
• 2026-04-15 Relisted — MRED as Distributed by MLS Grid
• 2026-03-29 Contingent — MRED as Distributed by MLS Grid
• 2026-02-18 Relisted — MRED as Distributed by MLS Grid
• 2026-02-06 Contingent — MRED as Distributed by MLS Grid
• 2026-01-21 Relisted — MRED as Distributed by MLS Grid
• 2025-12-26 Relisted — MRED as Distributed by MLS Grid
• 2025-12-22 Pending — MRED as Distributed by MLS Grid
• 2025-11-24 Contingent — MRED as Distributed by MLS Grid
• 2025-10-29 Relisted — MRED as Distributed by MLS Grid
• 2025-10-28 Listing Removed — MRED as Distributed by MLS Grid
• 2025-10-24 Relisted — MRED as Distributed by MLS Grid
• 2025-10-18 Contingent — MRED as Distributed by MLS Grid
• 2025-08-23 Price Changed $349,900 MRED as Distributed by MLS Grid
• 2025-07-14 Price Changed $354,900 MRED as Distributed by MLS Grid
• 2025-06-17 Price Changed $365,000 MRED as Distributed by MLS Grid
• 2025-05-31 Price Changed $374,900 MRED as Distributed by MLS Grid
• 2025-04-28 Listed $379,900 MRED as Distributed by MLS Grid
• 2020-09-15 Sold (Public Records) $121,000 Public Records
• 2020-07-07 Sold (MLS) $121,000 MRED as Distributed by MLS Grid
• 2020-04-24 Pending — MRED as Distributed by MLS Grid
• 2020-04-01 Price Changed $138,500 MRED as Distributed by MLS Grid
• 2020-02-19 Relisted — MRED as Distributed by MLS Grid
• 2020-02-04 Contingent — MRED as Distributed by MLS Grid
• 2020-01-31 Relisted — MRED as Distributed by MLS Grid
• 2019-12-31 Listing Removed — MRED as Distributed by MLS Grid
• 2019-11-21 Price Changed $139,000 MRED as Distributed by MLS Grid
• 2019-11-21 Relisted — MRED as Distributed by MLS Grid
• 2019-09-03 Pending — MRED as Distributed by MLS Grid
• 2019-08-03 Price Changed $149,000 MRED as Distributed by MLS Grid
• 2019-08-02 Relisted — MRED as Distributed by MLS Grid
• 2019-05-31 Contingent — MRED as Distributed by MLS Grid
• 2019-05-18 Price Changed $135,000 MRED as Distributed by MLS Grid
• 2019-05-07 Price Changed $137,500 MRED as Distributed by MLS Grid
• 2019-04-24 Relisted — MRED as Distributed by MLS Grid
• 2019-04-05 Contingent — MRED as Distributed by MLS Grid
• 2019-02-21 Price Changed $139,900 MRED as Distributed by MLS Grid
• 2019-01-07 Price Changed $142,400 MRED as Distributed by MLS Grid
• 2018-12-29 Price Changed $144,900 MRED as Distributed by MLS Grid
• 2018-12-22 Price Changed $147,400 MRED as Distributed by MLS Grid
• 2018-10-20 Listed $149,000 MRED as Distributed by MLS Grid
• 2013-08-23 Sold (Public Records) $90,000 Public Records
• 2010-01-15 Sold (MLS) $63,000 MRED as Distributed by MLS Grid
• 2009-12-15 Pending — MRED as Distributed by MLS Grid
• 2009-12-03 Price Changed $69,900 MRED as Distributed by MLS Grid
• 2009-11-20 Listed $74,900 MRED as Distributed by MLS Grid
• 2008-07-05 Listing Removed — MRED as Distributed by MLS Grid
• 2007-10-06 Listed — MRED as Distributed by MLS Grid
• 2006-06-16 Sold (Public Records) $330,000 Public Records
• 2002-08-14 Sold (Public Records) $233,000 Public Records
• 1996-11-06 Sold (Public Records) $184,000 Public Records
• 1991-02-11 Sold (Public Records) $94,600 Public Records
• 1986-04-01 Sold (Public Records) $110,000 Public Records

Property tax history

+2.6%/yr

Latest (2023): $14,987 · +21.0% YoY. Source: county tax records.