417 Prairie Ave · Calumet City, IL 60409

$310,000

6 bd · 3.0 ba · 2,990 sqft · MultiFamily public records · 46 Days on market

Built 1972

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Why this score? — see what drove the C- 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 +20.5/30.0
• 1% rule +8.9/10.0
• ARV discount +7.5/15.0
• DSCR +6.5/10.0
• 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 (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

Beautiful Building located on the counter, 2-flat with full basement. Side drive with 2-car garage. 3 bedrooms 1.1 baths in each unit with eat-in kitchen. Hurry wont last long! wrought iron fencing surrounding the back yard, separate heating, newer roof, the building was remodel in 2015. call for your showing to day it want last long.

Key facts

• Newer roof
• Separate heating
• 2 garage spots

Tags

• FULL FINISHED BASEMENT
• SEPARATE HEATING
• NEWER ROOF

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/1.5-bath units multifamily listed at $310k.

Deal economics

• At list price, monthly cash flow is $408 ($5k/yr) — positive. Per door: $204/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $310k).
• Recommended offer: $301k (3.0% 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 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.
• 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 $4,318/mo this rent would consume 94% 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 $9k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 6.2% rent growth), your $87k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 46 days — a 3% lower offer ($301k) is reasonable based on typical stale-listing flexibility.
• 13 sale attempts since 18y 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.

Risks & watch-outs

• Watch-outs: property tax is 4.8% of price.

Recommended offer $300,700 (3.0% below list)

Questions for the listing agent

1. It's been on market 46 days. Have you received any prior offers? Is the seller open to a 3% 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 1972 — 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. 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 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?
9. 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.
10. 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.
11. 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: 1.39% ✓
• Cap rate: 7.87%
• Cash-on-cash: 5.63%
• DSCR: 1.25
• GRM: 6.0

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: -2.8%
• Equity multiple: 0.89×
• Total profit: $-9,475
• Equity at exit: $46,222

10-year hold

• IRR: 11.1%
• Equity multiple: 2.03×
• Total profit: $89,820
• Equity at exit: $26,803

Cash invested: $86,800 (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: 12.0×

Monthly cashflow live

• Estimated rent: $4,318 high
• Mortgage (P&I): −$1,626
• Tax from tax record: −$1,249 /mo · $14,986/yr
• Insurance: −$129
• HOA: −$0
• Vacancy / Maint / Mgmt: −$907
• Net cashflow: $408

Break-even live

Break-even rent $3,802

Max offer price $310,000

Occupancy floor 86%

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	1.5	$4,318
Total (2 units)			$4,318

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: $77,500
• Closing costs: $9,300
• Reserves months: —
• Total cash needed: —

Listing history 50 events

1. 2026-06-18
   days on market $310,000 Active 46 DOM
2. 2026-06-17
   days on market $310,000 Active 45 DOM
3. 2026-06-16
   days on market $310,000 Active 44 DOM
4. 2026-06-15
   days on market $310,000 Active 43 DOM
5. 2026-06-13
   days on market $310,000 Active 41 DOM
6. 2026-06-13
   days on market $310,000 Active 40 DOM
7. 2026-06-09
   days on market $310,000 Active 37 DOM
8. 2026-06-08
   days on market $310,000 Active 36 DOM
9. 2026-06-07
   statusdays on market $310,000 Active 35 DOM
10. 2026-06-04
    days on market $310,000 Temporarily No Showings 32 DOM
11. 2026-06-03
    days on market $310,000 Temporarily No Showings 31 DOM
12. 2026-06-02
    days on market $310,000 Temporarily No Showings 30 DOM
13. 2026-06-01
    days on market $310,000 Temporarily No Showings 29 DOM
14. 2026-05-31
    days on market $310,000 Temporarily No Showings 28 DOM
15. 2026-05-03
    listed $310,000 Active
16. 2022-09-14
    soldstatus $280,000
17. 2022-09-12
    soldstatus $280,000 Closed 340-char remark

    Show marketing remark (340 chars)

    Beautiful Building located on the counter, 2-flat with full basement. Side drive with 2-car garage. 3 bedrooms 1.1 baths in each unit with eat-in kitchen. Hurry wont last long! wrought iron fencing surrounding the back yard, separate heating, newer roof, the building was remodel in 2015. call for your showing to day it want last long.

18. 2022-05-26
    historical Contingent - Continue to Show 340-char remark

    Show marketing remark (340 chars)

    Beautiful Building located on the counter, 2-flat with full basement. Side drive with 2-car garage. 3 bedrooms 1.1 baths in each unit with eat-in kitchen. Hurry wont last long! wrought iron fencing surrounding the back yard, separate heating, newer roof, the building was remodel in 2015. call for your showing to day it want last long.

19. 2022-02-17
    listed $280,000 Active 340-char remark

    Show marketing remark (340 chars)

    Beautiful Building located on the counter, 2-flat with full basement. Side drive with 2-car garage. 3 bedrooms 1.1 baths in each unit with eat-in kitchen. Hurry wont last long! wrought iron fencing surrounding the back yard, separate heating, newer roof, the building was remodel in 2015. call for your showing to day it want last long.

20. 2019-08-21
    historical
21. 2019-05-23
    listed New
22. 2014-12-31
    soldstatus $46,000 Closed Sale
23. 2014-11-25
    listed $55,000 New
24. 2014-11-20
    historical
25. 2014-10-30
    status Reactivated
26. 2014-09-23
    historical Contingent
27. 2014-09-22
    price
28. 2014-08-15
    price Price Change
29. 2014-08-05
    status Reactivated
30. 2014-07-14
    status Pending
31. 2014-07-03
    historical Contingent
32. 2014-06-02
    status Reactivated
33. 2014-05-15
    historical Contingent
34. 2014-05-06
    listed New
35. 2014-04-30
    historical
36. 2014-03-26
    status Pending
37. 2014-03-20
    status Back On Market
38. 2014-03-15
    historical
39. 2014-02-14
    price Price Change
40. 2014-01-16
    status Reactivated
41. 2013-11-05
    status Pending
42. 2013-09-18
    listed New
43. 2008-12-13
    historical
44. 2008-12-12
    soldstatus $104,900 Closed Sale
45. 2008-08-14
    listed
46. 2008-08-06
    historical
47. 2008-05-30
    listed
48. 2004-05-14
    soldstatus $254,000
49. 1999-06-15
    soldstatus $195,000
50. 1990-08-24
    soldstatus $134,000

ⓘ 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: $14,986 · $1,249/mo
• Projected year-2 tax: $14,986 · $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 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 0% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $51,816
• − Mortgage interest: −$17,365
• − Property taxes: −$14,986
• − Insurance: −$1,550
• − Repairs & maintenance: −$4,145
• − Management: −$4,145
• − Depreciation: −$9,018
• Taxable income: $606
• Est. tax owed @ 24.0%: −$145
• After-tax cash flow: $4,745/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

+131.3% since first listed

36 events — show timeline

• 2026-05-03 Listed $310,000 MRED as Distributed by MLS Grid
• 2022-09-14 Sold (Public Records) $280,000 Public Records
• 2022-09-12 Sold (MLS) $280,000 MRED as Distributed by MLS Grid
• 2022-05-26 Contingent — MRED as Distributed by MLS Grid
• 2022-02-17 Listed $280,000 MRED as Distributed by MLS Grid
• 2019-08-21 Listing Removed — MRED as Distributed by MLS Grid
• 2019-05-23 Listed — MRED as Distributed by MLS Grid
• 2014-12-31 Sold (MLS) $46,000 MRED as Distributed by MLS Grid
• 2014-11-25 Listed $55,000 MRED as Distributed by MLS Grid
• 2014-11-20 Listing Removed — MRED as Distributed by MLS Grid
• 2014-10-30 Relisted — MRED as Distributed by MLS Grid
• 2014-09-23 Contingent — MRED as Distributed by MLS Grid
• 2014-09-22 Price Changed — MRED as Distributed by MLS Grid
• 2014-08-15 Price Changed — MRED as Distributed by MLS Grid
• 2014-08-05 Relisted — MRED as Distributed by MLS Grid
• 2014-07-14 Pending — MRED as Distributed by MLS Grid
• 2014-07-03 Contingent — MRED as Distributed by MLS Grid
• 2014-06-02 Relisted — MRED as Distributed by MLS Grid
• 2014-05-15 Contingent — MRED as Distributed by MLS Grid
• 2014-05-06 Listed — MRED as Distributed by MLS Grid
• 2014-04-30 Listing Removed — MRED as Distributed by MLS Grid
• 2014-03-26 Pending — MRED as Distributed by MLS Grid
• 2014-03-20 Relisted — MRED as Distributed by MLS Grid
• 2014-03-15 Listing Removed — MRED as Distributed by MLS Grid
• 2014-02-14 Price Changed — MRED as Distributed by MLS Grid
• 2014-01-16 Relisted — MRED as Distributed by MLS Grid
• 2013-11-05 Pending — MRED as Distributed by MLS Grid
• 2013-09-18 Listed — MRED as Distributed by MLS Grid
• 2008-12-13 Listing Removed — MRED as Distributed by MLS Grid
• 2008-12-12 Sold (MLS) $104,900 MRED as Distributed by MLS Grid
• 2008-08-14 Listed — MRED as Distributed by MLS Grid
• 2008-08-06 Listing Removed — MRED as Distributed by MLS Grid
• 2008-05-30 Listed — MRED as Distributed by MLS Grid
• 2004-05-14 Sold (Public Records) $254,000 Public Records
• 1999-06-15 Sold (Public Records) $195,000 Public Records
• 1990-08-24 Sold (Public Records) $134,000 Public Records

Property tax history

+2.9%/yr

Latest (2023): $14,986 · +8.9% YoY. Source: county tax records.