510 Price Ave · Calumet City, IL 60409

$149,000

3 bd · 1.0 ba · 1,293 sqft · SingleFamily public records · 46 Days on market

Built 1953 5,764 sqft lot Est $169k · 12% under

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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 +23.9/30.0
• ARV discount +12.9/15.0
• 1% rule +7.8/10.0
• DSCR +7.7/10.0
• 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

Bring your vision and personal touch to this classic all-brick bungalow featuring a durable, maintenance-free exterior and timeless character throughout. Step inside to discover a spacious living room, formal dining room perfect for gatherings, and an inviting eat-in kitchen ready for your updates and creativity. Relax on the charming covered front porch while enjoying your morning coffee or unwinding with your favorite evening beverage. Beneath the carpeting, hardwood floors are waiting to be revealed and restored to their original beauty. The full basement offers additional living space, including a bedroom-ideal for guests, a home office, or related living possibilities. Updated windows

Key facts

• Covered front porch
• All-brick bungalow
• Updated windows

Tags

• ALL-BRICK BUNGALOW
• MAINTENANCE-FREE EXTERIOR
• COVERED FRONT PORCH
• HARDWOOD FLOORS
• FULL BASEMENT
• UPDATED WINDOWS

Property features AI

Finance

• Other: Property not currently leased; School bus service and commuter/interstate access nearby
• HOA & community: No master association fee required; Community features include curbs, sidewalks, street lights and paved streets

Exterior

• Parking: Detached garage with garage door opener (concrete; garage owned); One total parking space
• Utilities: Water from Lake Michigan and public supply; Public sewer; Electric with circuit breakers
• Home design: Detached single-family home; One-story layout; Fee simple ownership; Disability access available; Built circa 71–80 years ago; Built before 1978
• Construction: Brick construction; Asphalt roof; Block and concrete perimeter foundation
• Exterior features: Deck; Cellar basement

Interior

• Kitchen: Eating-area kitchen (approximately 16 x 10); Range; Portable dishwasher
• Bedrooms: Three main-level bedrooms (sizes include 13 x 11, 11 x 11, 11 x 6); One additional bedroom in the basement (13 x 11) — total possible bedrooms: 4
• Flooring: Carpet in living areas and most bedrooms; Hardwood flooring noted in other areas; Other flooring in the finished basement bedroom
• Bathrooms: One full bathroom
• Heating & cooling: Forced air heating (natural gas); Central air conditioning
• Interior features: Seven total rooms; Window treatments and drapes throughout; Hardwood flooring in some areas
• Laundry & utility: Dedicated laundry room

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $149k.

Deal economics

• At list price, monthly cash flow is $288 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $149k).
• Recommended offer: $145k (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-, crime D-, amenities F.
• 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.
• Zoned schools: Wilson Elementary School (366 students, 0% FRL); Wentworth Jr High School (math 10% / reading 13%, grade F, #571 of 665 statewide, top 86%, 311 students, 0% FRL); Thornton Fractnl No High School (math 6% / reading 10%, grade F, #587 of 693 statewide, top 85%, 1,383 students, 0% FRL).
• Market conditions: Rents rising fast (+6.2%/yr); 196 active listings in the ZIP; 12 comparable units currently listed for rent nearby; rentals at typical pace (median 14d on market — plan ~3-4 weeks tenant-placement turnaround); 6,272 units permitted in Cook County in 2024 (4,658 in 5+ unit buildings).
• This rent runs 41% 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 $1k of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 6.2% rent growth), your $42k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 46 days — a 3% lower offer ($145k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: property tax is 3.0% of price; built in 1953 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $144,530 (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. Built in 1953 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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 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: 1.28% ✓
• Cap rate: 8.61%
• Cash-on-cash: 8.28%
• DSCR: 1.37
• GRM: 6.5

CMA / ARV

• ARV (on-the-fly): $169,383
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
303 W 153rd Pl	0.45mi	3/1.0	1,188 (-8%)	2mo	$65,000	$55	64
606 Buffalo Ave	0.39mi	3/2.0	1,340 (+4%)	12mo	$175,000	$131	61
5259 State Line Ave	0.72mi	3/1.0	1,260 (-3%)	1mo	$77,000	$61	61
525 Forsythe Ave	0.53mi	3/2.0	1,386 (+7%)	2mo	$185,000	$133	58
658 Mackinaw Ave	0.43mi	4/2.0 (+1)	1,383 (+7%)	4mo	$183,000	$132	56
750 Buffalo Ave	0.66mi	3/1.0	1,340 (+4%)	10mo	$150,000	$112	55
737 Newell Ave	0.61mi	3/1.0	1,386 (+7%)	6mo	$80,000	$58	55
589 Superior Ave	0.40mi	3/1.5	1,439 (+11%)	8mo	$112,500	$78	54
1060 Lucas St	0.71mi	4/3.0 (+1)	1,337 (+3%)	1mo	$270,000	$202	48
228 154th Pl	0.57mi	3/2.0	1,120 (-13%)	3mo	$39,900	$36	44
518 156th Pl	0.70mi	3/2.0	1,165 (-10%)	3mo	$167,000	$143	44
742 Newell Ave	0.62mi	3/1.5	1,135 (-12%)	10mo	$150,000	$132	40

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: 0.4%
• Equity multiple: 1.01×
• Total profit: $612
• Equity at exit: $22,216

10-year hold

• IRR: 13.4%
• Equity multiple: 2.25×
• Total profit: $52,250
• Equity at exit: $12,883

Cash invested: $41,720 (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: 6.5×

Monthly cashflow live

• Estimated rent: $1,910 high
• Mortgage (P&I): −$781
• Tax from tax record: −$378 /mo · $4,530/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$401
• Net cashflow: $288

Break-even live

Break-even rent $1,546

Max offer price $149,000

Occupancy floor 80%

Sensitivity live

Price	-10% $372	-5% $330	+0% $288	+5% $246	+10% $203
Rent	-10% $137	-5% $212	+0% $288	+5% $363	+10% $439
Rate	-1.0pp $363	-0.5pp $326	base $288	+0.5pp $249	+1.0pp $210

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: $37,250
• Closing costs: $4,470
• Reserves months: —
• Total cash needed: —

Rent comps 12 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	26d	1	0.31mi
2790 E State St Apt 2E Burnham, IL	3.0	2.0	1100	$1,695	$1.54	26d	1	0.82mi
2605 E Martha Pl Chicago, IL	2.0	2.0	1353	$1,860	$1.37	23d	1	1.00mi
671 Saginaw Ave Calumet City, IL	3.0	2.0	1250	$2,276	$1.82	11d	1	1.09mi
3 Ruth St Hammond, IN	2.0	1.0	900	$1,250	$1.39	26d	1	1.23mi
4624 Towle Ave Hammond, IN	4.0	2.0	1500	$2,500	$1.67	4d	1	1.23mi
4624 Towle Ave Hammond, IN	4.0	2.0	1500	$2,500	$1.67	2d	1	1.23mi
5 Ruth St Unit 2W Hammond, IN	2.0	1.0	900	$1,250	$1.39	14d	1	1.23mi
3 Waltham St Hammond, IN	3.0	1.0	1200	$1,095	$0.91	26d	1	1.28mi
34 Elizabeth St Calumet City, IL	3.0	1.0	1246	$2,400	$1.93	0d	1	1.29mi
14518 S Hoxie Ave Chicago, IL	3.0	1.5	1128	$2,450	$2.17	0d	1	1.33mi
250 Yates Ave Unit 1616 Dolton 1E Calumet City, IL	2.0	1.0	875	$1,465	$1.67	9d	1	1.48mi

Listing history 14 events

1. 2026-06-21
   days on market $149,000 Active 46 DOM
2. 2026-06-18
   days on market $149,000 Active 43 DOM
3. 2026-06-17
   days on market $149,000 Active 42 DOM
4. 2026-06-16
   days on market $149,000 Active 41 DOM
5. 2026-06-15
   days on market $149,000 Active 40 DOM
6. 2026-06-13
   days on market $149,000 Active 38 DOM
7. 2026-06-09
   days on market $149,000 Active 34 DOM
8. 2026-06-08
   days on market $149,000 Active 33 DOM
9. 2026-06-07
   days on market $149,000 Active 32 DOM
10. 2026-06-04
    days on market $149,000 Active 29 DOM
11. 2026-06-03
    days on market $149,000 Active 28 DOM
12. 2026-06-02
    days on market $149,000 Active 27 DOM
13. 2026-06-01
    days on market $149,000 Active 26 DOM
14. 2026-05-31
    days on market $149,000 Active 25 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: $4,530 · $378/mo
• Projected year-2 tax: $4,530 · $378/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 5/10 Major FEMA zone X (unshaded) · 66% 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: $22,917
• − Mortgage interest: −$8,346
• − Property taxes: −$4,530
• − Insurance: −$745
• − Repairs & maintenance: −$1,833
• − Management: −$1,833
• − Depreciation: −$4,335
• Taxable income: $1,294
• Est. tax owed @ 24.0%: −$311
• After-tax cash flow: $3,142/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

Property tax history

+3.9%/yr

Latest (2023): $4,530 · +326.3% YoY. Source: county tax records.