12940 S May St · Calumet Park, IL 60827

$165,000

3 bd · 2.5 ba · 1,309 sqft · Townhouse public records · 219 Days on market

Built 2005 $126/sqft · 23% below area Est $230k · 28% under $200/mo HOA · 11% of rent ↓ 6% since listing

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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).

• ARV discount +15.0/15.0
• Cash flow +6.8/30.0
• 1% rule +6.5/10.0
• Rent growth +4.5/5.0
• Livability +3.6/5.0
• Condition / age +2.5/5.0
• Schools +1.6/10.0
• DSCR +1.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Rare Opportunity for Quick Equity! This spacious 3-bedroom, 2.5-bath Calumet Park townhouse with an attached 1-car garage offers exceptional potential for the buyer with vision. Well-designed and filled with natural light, the home is ready for cosmetic updates that will unlock significant value. Enjoy a private rear patio ideal for summer gatherings. Located in a quiet, tucked-away community, you'll appreciate the peaceful setting while staying close to the Calumet-Sag and Major Taylor trails, shopping, and transportation. With solid bones and room to customize, this is the perfect opportunity to create the home you want while building equity. Don't miss it-properties like this are rarely available

Key facts

• Ample green space
• Peaceful setting
• Private rear patio

Tags

• PRIVATE REAR PATIO
• AMPLE GREEN SPACE
• QUIET COMMUNITY
• PEACEFUL SETTING

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath townhouse listed at $165k.

Deal economics

• At list price, monthly cash flow is $-256 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $148k (10.5% below list).
• Meets the 1% rule at list price ($2k rent vs $165k).
• Recommended offer: $145k (12.0% below list) — sets the bar for market timing.
• Cap rate 4.4% vs local median 5.7% in Calumet Park — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

Location & tenants

• Location reads 72/100 on livability (#308 in IL) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: employment C-, crime F.
• Chsd 218 (suburban): math 14% / reading 20% proficiency, ranked #454 of 620 in IL (top 73%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Burr Oak Academy (318 students, 0% FRL); Calumet Elem School (math 24% / reading 24%, grade F, #332 of 665 statewide, top 55%, 310 students, 0% FRL); Dd Eisenhower High Sch (Campus) (math 10% / reading 13%, grade F, #520 of 693 statewide, top 75%, 1,841 students, 0% FRL).
• Market conditions: Rents rising fast (+7.8%/yr); 77 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 6,272 units permitted in Cook County in 2024 (4,658 in 5+ unit buildings).
• At $1,891/mo this rent would consume 61% of the median local household income ($37k/yr) (locally 1868% 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 $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 219 days — a 12% lower offer ($145k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 21y ago; this cycle's ask has dropped $20k (11%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $77k; list at $165k implies a 114% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 4.5% of price.

Recommended offer $145,200 (12.0% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 219 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. Crime grade is F 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?
9. 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?
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 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: 1.15% ✓
• Cap rate: 4.43%
• Cash-on-cash: -6.64%
• DSCR: 0.70
• GRM: 7.3

CMA / ARV

• ARV (median comp): $230,270
• List price: $165,000
• Delta: -28.35%
• Verdict: UNDERPRICED
• Comps: 10 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 7.82% rent growth · sell at horizon

5-year hold

• IRR: -19.1%
• Equity multiple: 0.29×
• Total profit: $-33,005
• Equity at exit: $24,602

10-year hold

• IRR: -1.1%
• Equity multiple: 0.90×
• Total profit: $-4,480
• Equity at exit: $14,266

Cash invested: $46,200 (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 60827

• Home prices YoY: -31.8%
• Rents YoY: 7.8%
• Active inventory: 77
• Price-to-rent: 7.3×

Monthly cashflow live

• Estimated rent: $1,891 high
• Mortgage (P&I): −$865
• Tax from tax record: −$615 /mo · $7,383/yr
• Insurance: −$69
• HOA: −$200
• Vacancy / Maint / Mgmt: −$397
• Net cashflow: $-256

Break-even live

Break-even rent $2,214

Max offer price $147,654

Occupancy floor —

Sensitivity live

Price	-10% $-162	-5% $-209	+0% $-256	+5% $-302	+10% $-349
Rent	-10% $-405	-5% $-330	+0% $-256	+5% $-181	+10% $-106
Rate	-1.0pp $-173	-0.5pp $-214	base $-256	+0.5pp $-298	+1.0pp $-342

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: $41,250
• Closing costs: $4,950
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
12827 S Morgan St Unit 1546010P Chicago, IL	4.0	2.0	1022	$4,677	$4.58	14d	1	0.23mi
843 W 123rd St Unit V5 Calumet Park, IL	2.0	1.0	900	$1,500	$1.67	14d	1	0.85mi
12358 S Lowe Ave Chicago, IL	3.0	2.0	1050	$2,400	$2.29	26d	1	0.91mi
1923 Vermont St Blue Island, IL	2.0	1.0	1087	$1,550	$1.43	26d	1	0.98mi
12111 S Justine St Chicago, IL	3.0	1.5	1800	$2,400	$1.33	17d	1	1.13mi
12106 S Emerald Ave Chicago, IL	3.0	2.0	1300	$2,550	$1.96	0d	1	1.13mi
12105 S Justine St Chicago, IL	2.0	2.0	1800	$2,700	$1.50	3d	1	1.13mi
13604 S Wentworth Ave Riverdale, IL	3.0	1.0	1100	$1,200	$1.09	26d	1	1.42mi
2119 135th Pl Unit 4 Blue Island, IL	2.0	1.0	900	$1,250	$1.39	9d	1	1.43mi
2119 135th Pl Blue Island, IL	2.0	1.0	900	$1,250	$1.39	5d	1	1.43mi
13708 S Wentworth Ave Riverdale, IL	3.0	1.5	1500	$2,200	$1.47	24d	1	1.49mi

HOA detail

• Monthly dues: $200 · $2,400/yr

Listing history 34 events

1. 2026-06-21
   days on market $165,000 Active 219 DOM
2. 2026-06-18
   days on market $165,000 Active 216 DOM
3. 2026-06-17
   days on market $165,000 Active 215 DOM
4. 2026-06-16
   days on market $165,000 Active 214 DOM
5. 2026-06-15
   days on market $165,000 Active 213 DOM
6. 2026-06-13
   days on market $165,000 Active 211 DOM
7. 2026-06-09
   days on market $165,000 Active 207 DOM
8. 2026-06-08
   days on market $165,000 Active 206 DOM
9. 2026-06-07
   days on market $165,000 Active 205 DOM
10. 2026-06-04
    days on market $165,000 Active 202 DOM
11. 2026-06-03
    days on market $165,000 Active 201 DOM
12. 2026-06-02
    days on market $165,000 Active 200 DOM
13. 2026-06-01
    days on market $165,000 Active 199 DOM
14. 2026-05-31
    days on market $165,000 Active 198 DOM
15. 2026-02-06
    price $165,000 715-char remark

    Show marketing remark (715 chars)

    Rare Opportunity for Quick Equity! This spacious 3-bedroom, 2.5-bath Calumet Park townhouse with an attached 1-car garage offers exceptional potential for the buyer with vision. Well-designed and filled with natural light, the home is ready for cosmetic updates that will unlock significant value. Enjoy a private rear patio ideal for summer gatherings. Located in a quiet, tucked-away community, you'll appreciate the peaceful setting while staying close to the Calumet-Sag and Major Taylor trails, shopping, and transportation. With solid bones and room to customize, this is the perfect opportunity to create the home you want while building equity. Don't miss it-properties like this are rarely available

16. 2025-12-18
    price $175,000 715-char remark

    Show marketing remark (715 chars)

    Rare Opportunity for Quick Equity! This spacious 3-bedroom, 2.5-bath Calumet Park townhouse with an attached 1-car garage offers exceptional potential for the buyer with vision. Well-designed and filled with natural light, the home is ready for cosmetic updates that will unlock significant value. Enjoy a private rear patio ideal for summer gatherings. Located in a quiet, tucked-away community, you'll appreciate the peaceful setting while staying close to the Calumet-Sag and Major Taylor trails, shopping, and transportation. With solid bones and room to customize, this is the perfect opportunity to create the home you want while building equity. Don't miss it-properties like this are rarely available

17. 2025-11-13
    listed $185,000 Active 715-char remark

    Show marketing remark (715 chars)

    Rare Opportunity for Quick Equity! This spacious 3-bedroom, 2.5-bath Calumet Park townhouse with an attached 1-car garage offers exceptional potential for the buyer with vision. Well-designed and filled with natural light, the home is ready for cosmetic updates that will unlock significant value. Enjoy a private rear patio ideal for summer gatherings. Located in a quiet, tucked-away community, you'll appreciate the peaceful setting while staying close to the Calumet-Sag and Major Taylor trails, shopping, and transportation. With solid bones and room to customize, this is the perfect opportunity to create the home you want while building equity. Don't miss it-properties like this are rarely available

18. 2025-03-28
    historical
19. 2024-11-25
    listed Active
20. 2011-07-26
    soldstatus $77,000 Closed Sale
21. 2011-06-09
    status Pending
22. 2011-05-20
    historical Contingent
23. 2011-05-12
    listed $79,900 New
24. 2010-12-01
    historical
25. 2010-09-10
    price Price Change
26. 2010-09-10
    status Price Change
27. 2010-08-02
    historical Contingent
28. 2010-06-14
    listed New
29. 2007-08-03
    soldstatus $175,000
30. 2007-07-31
    soldstatus $174,900
31. 2007-07-06
    historical
32. 2007-05-17
    listed $174,900
33. 2007-05-16
    historical
34. 2005-05-16
    listed

ⓘ 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: $7,383 · $615/mo
• Projected year-2 tax: $7,383 · $615/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 ≥101°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,687
• − Mortgage interest: −$9,243
• − Property taxes: −$7,383
• − Insurance: −$825
• − Repairs & maintenance: −$1,815
• − Management: −$1,815
• − HOA: −$2,400
• − Depreciation: −$4,800
• Taxable loss: −$5,593
• Est. tax savings @ 24.0%: +$1,342
• After-tax cash flow: $-1,726/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: Chsd 218
• NCES district ID: 1706540
• Math proficiency: 14% ▼ -4.00%
• Reading proficiency: 20% ▼ -1.00%
• Median HH income: $57,166
• Composite: 16.09/100
• National rank: #9235
• State rank: #454 of 620 in IL

Livability — Calumet Park

• Score: 72/100
• State rank: #308
• US rank: #6048

Category grades

Amenities C+ Commute A+ Cost of living A+ Crime F Employment C- Housing A+ Health & safety C+ User ratings A

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Calumet Park, IL
• County: Cook County · 4,486,803 people
• Metro: Chicago-Naperville-Elgin, IL-IN-WI
• Population (ZIP): 24,713
• Household income: $37,217
• Rent vs Own: 59.8% rent · 40.2% own
• Severe rent burden: 1868.0

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 (88%)
• Race & ethnicity: Black 88% Two or more races 5% Hispanic / Latino 5% White 2%
• Common ancestry: Iranian 1%
• Foreign-born: 2% · Canada
• Languages at home: 96% English-only · Spanish 3%

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: ▼ -76.39%
• Current HPI: 163.7725
• Rent YoY: ▲ 7.82%
• 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

-5.7% since first listed

20 events — show timeline

• 2026-02-06 Price Changed $165,000 MRED as Distributed by MLS Grid
• 2025-12-18 Price Changed $175,000 MRED as Distributed by MLS Grid
• 2025-11-13 Listed $185,000 MRED as Distributed by MLS Grid
• 2025-03-28 Listing Removed — MRED as Distributed by MLS Grid
• 2024-11-25 Listed — MRED as Distributed by MLS Grid
• 2011-07-26 Sold (MLS) $77,000 MRED as Distributed by MLS Grid
• 2011-06-09 Pending — MRED as Distributed by MLS Grid
• 2011-05-20 Contingent — MRED as Distributed by MLS Grid
• 2011-05-12 Listed $79,900 MRED as Distributed by MLS Grid
• 2010-12-01 Listing Removed — MRED as Distributed by MLS Grid
• 2010-09-10 Relisted — MRED as Distributed by MLS Grid
• 2010-09-10 Price Changed — MRED as Distributed by MLS Grid
• 2010-08-02 Contingent — MRED as Distributed by MLS Grid
• 2010-06-14 Listed — MRED as Distributed by MLS Grid
• 2007-08-03 Sold (Public Records) $175,000 Public Records
• 2007-07-31 Sold (MLS) $174,900 MRED as Distributed by MLS Grid
• 2007-07-06 Listing Removed — MRED as Distributed by MLS Grid
• 2007-05-17 Listed $174,900 MRED as Distributed by MLS Grid
• 2007-05-16 Listing Removed — MRED as Distributed by MLS Grid
• 2005-05-16 Listed — MRED as Distributed by MLS Grid

Property tax history

+4.8%/yr

Latest (2023): $7,383 · +91.6% YoY. Source: county tax records.