400 Park Ave #512 · Calumet City, IL 60409

$95,000

2 bd · 2.0 ba · 1,050 sqft · Condo · 15 Days on market

Built 1978 $411/mo HOA · 18% of rent

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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

Key facts

• Private balcony
• Scenic golf course
• Gated entry

Tags

• GATED ENTRY
• SPARKLING SWIMMING POOL
• FULLY EQUIPPED FITNESS CENTER
• SCENIC GOLF COURSE
• EXPANSIVE GREEN SPACE
• PRIVATE BALCONY

Property features AI

Finance

• Other: Building contains 266 units; Living area recorded from assessor
• HOA & community: Monthly association fee of $411; Association covers heat, water, gas, insurance, security, clubhouse, exercise facilities, pool, exterior maintenance, lawn care, trash removal, and snow removal; Pets not allowed

Exterior

• Parking: One parking space
• Security: Community security included in association
• Utilities: Public water service; Public sewer service
• Home design: Attached single condo; Fee simple ownership; Unit entry on level 5
• Construction: Brick construction; Building age approximately 41–50 years
• Exterior features: Public water; Public sewer

Interior

• Kitchen: Kitchen on main level (6 x 12)
• Bedrooms: Master bedroom on main level (16 x 11) with full bath; Second bedroom on main level (11 x 10); Additional bedrooms (two listed)
• Bathrooms: Two full bathrooms
• Heating & cooling: Natural gas forced air heating; Central air conditioning
• Interior features: Five total rooms
• Laundry & utility: Laundry room

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $95k.

Deal economics

• At list price, monthly cash flow is $801 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $95k).
• Recommended offer: $94k (1.5% below list) — sets the bar for market timing.
• Cap rate 16.4% 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 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; 5 comparable units currently listed for rent nearby; rentals leasing fast (median 6d on market — plan ~1-2 weeks tenant-placement turnaround); 6,272 units permitted in Cook County in 2024 (4,658 in 5+ unit buildings).
• At $2,308/mo this rent would consume 50% 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 $657 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 $27k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 15 days — a 2% lower offer ($94k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $58k; list at $95k implies a 65% gain — meaningful room to come down on a strong offer.

Recommended offer $93,575 (1.5% below list)

Questions for the listing agent

1. Built in 1978 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
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: 2.43% ✓
• Cap rate: 16.41%
• Cash-on-cash: 36.15%
• DSCR: 2.61
• GRM: 3.4

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: 36.4%
• Equity multiple: 2.64×
• Total profit: $43,495
• Equity at exit: $14,165

10-year hold

• IRR: 45.1%
• Equity multiple: 6.18×
• Total profit: $137,904
• Equity at exit: $8,214

Cash invested: $26,600 (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: 3.4×

Monthly cashflow live

• Estimated rent: $2,308 high
• Mortgage (P&I): −$498
• Tax from tax record: −$73 /mo · $876/yr
• Insurance: −$40
• HOA: −$411
• Vacancy / Maint / Mgmt: −$485
• Net cashflow: $801

Break-even live

Break-even rent $1,293

Max offer price $95,000

Occupancy floor 60%

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: $23,750
• Closing costs: $2,850
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
16001 Avalon Ave South Holland, IL	3.0	2.0	1136	$3,330	$2.93	6d	1	0.93mi
16246 Dobson Ave South Holland, IL	3.0	2.0	1250	$3,170	$2.54	2d	1	1.04mi
1450 E 154th Pl Dolton, IL	1.0	1.0	800	$1,250	$1.56	24d	1	1.34mi
660 Clyde Ave Calumet City, IL	3.0	1.5	1400	$1,750	$1.25	3d	1	1.42mi
659 Paxton Ave Calumet City, IL	3.0	2.0	1255	$2,461	$1.96	10d	1	1.43mi

HOA detail condo

• Monthly dues: $411 · $4,932/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 10 events

1. 2026-06-18
   days on market $95,000 Active 15 DOM
2. 2026-06-17
   days on market $95,000 Active 14 DOM
3. 2026-06-16
   days on market $95,000 Active 13 DOM
4. 2026-06-15
   days on market $95,000 Active 12 DOM
5. 2026-06-13
   days on market $95,000 Active 10 DOM
6. 2026-06-13
   days on market $95,000 Active 9 DOM
7. 2026-06-09
   days on market $95,000 Active 6 DOM
8. 2026-06-08
   days on market $95,000 Active 5 DOM
9. 2026-06-07
   days on market $95,000 Active 4 DOM
10. 2026-06-04
    listed $95,000 Active 1 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: $876 · $73/mo
• Projected year-2 tax: $1,516 · $126/mo
• Expected delta: +$640/yr (+$53/mo · 73.1%)

ⓘ 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 (shaded) · 24% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥103°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: $27,692
• − Mortgage interest: −$5,321
• − Property taxes: −$876
• − Insurance: −$475
• − Repairs & maintenance: −$2,215
• − Management: −$2,215
• − HOA: −$4,932
• − Depreciation: −$2,764
• Taxable income: $8,893
• Est. tax owed @ 24.0%: −$2,134
• After-tax cash flow: $7,481/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

+201.6% since first listed

4 events — show timeline

• 2026-06-03 Listed $95,000 MRED as Distributed by MLS Grid
• 1995-01-17 Sold (Public Records) $57,500 Public Records
• 1990-05-30 Sold (Public Records) $42,000 Public Records
• 1990-05-01 Sold (Public Records) $31,500 Public Records

Property tax history

-4.3%/yr

Latest (2023): $876 · -27.1% YoY. Source: county tax records.