304 155th Pl · Calumet City, IL 60409

$30,000

5 bd · 2.0 ba · 2,202 sqft · MultiFamily public records · 142 Days on market

Built 1909 3,120 sqft lot

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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).

• Cash flow +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• 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

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks

Remarks: Bring your vision and schedule your appointment to view this home. This property has been completely gutted and waiting for a savvy investor! NO TERMITE OR SURVEY. PROPERTY SOLD "AS-IS". PROOF OF FUNDS MUST ACCOMPANY OFFER. (PLEASE READ CAREFULLY TO ENSURE A SUCCESSFUL SUBMISSION OF YOUR OFFER: The property must be marketed for 10 days in the MLS before offers will be reviewed. During this time you should schedule a showing and then submit your offer if interested. Offers received during the 10 day marketing period will be sent in first for evaluation and selection therefore, your offer should reflect your highest and best. All offers MUST be submitted using the followi

Key facts

• 3,120 sq ft lot
• Built 1909
• Listed 142 days

Property features AI

Finance

• Other: Not currently leased; Possession at closing
• HOA & community: No master association fee required

Exterior

• Utilities: Water source: Lake Michigan; Public sewer
• Home design: Detached single-family home; 1.5-story design; Fee simple ownership; Built more than 100 years ago; Property faces unspecified direction
• Construction: Brick construction; Asphalt roof; Built before 1978
• Exterior features: Lot dimensions about 26 x 120; Less than 0.25 acre lot

Interior

• Kitchen: Kitchen (main level) approximately 10 x 10
• Bedrooms: Master bedroom (second level) approximately 12 x 12; Bedroom 2 (second level) approximately 10 x 12; Bedroom 3 (main level) approximately 10 x 10; Additional bedroom listed
• Bathrooms: Three full bathrooms
• Heating & cooling: Natural gas forced air heating; Central air conditioning
• Interior features: Six total rooms; School bus service and commuter bus access
• Laundry & utility: Laundry room

What this means for you Summary

Snapshot

• This is a 5-bed/2.0-bath multifamily listed at $30k.

Deal economics

• At list price, monthly cash flow is $2k ($22k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $30k).
• Recommended offer: $26k (12.0% below list) — sets the bar for market timing.
• Cap rate 78.6% 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 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.
• Market conditions: Rents rising fast (+6.2%/yr); 198 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 2d 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 $2,549/mo this rent would consume 55% 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 $207 of loan paydown is wiped out by about $900 of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 6.2% rent growth), your $8k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 142 days — a 12% lower offer ($26k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 20y 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: built in 1909 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $26,400 (12.0% below list)

Questions for the listing agent

1. It's been on market 142 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1909 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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. 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?
8. 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.
9. 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.
10. 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: 8.50% ✓
• Cap rate: 78.55%
• Cash-on-cash: 258.08%
• DSCR: 12.48
• GRM: 1.0

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: —
• Equity multiple: 15.12×
• Total profit: $118,625
• Equity at exit: $4,473

10-year hold

• IRR: —
• Equity multiple: 35.33×
• Total profit: $288,350
• Equity at exit: $2,594

Cash invested: $8,400 (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: 1.0×

Monthly cashflow live

• Estimated rent: $2,549 medium
• Mortgage (P&I): −$157
• Tax est. 1.5%: −$38 /mo · $450/yr
• Insurance: −$12
• HOA: −$0
• Vacancy / Maint / Mgmt: −$535
• Net cashflow: $1,807

Break-even live

Break-even rent $262

Max offer price $30,000

Occupancy floor 24%

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: $7,500
• Closing costs: $900
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
617 Kane St Hammond, IN	4.0	2.0	2146	$2,300	$1.07	1d	1	1.05mi
4624 Towle Ave Hammond, IN	4.0	2.0	1500	$2,500	$1.67	3d	1	1.42mi
4624 Towle Ave Hammond, IN	4.0	2.0	1500	$2,500	$1.67	1d	1	1.42mi

Listing history 20 events

1. 2026-06-13
   statusdays on market $30,000 Pending 142 DOM
2. 2026-06-09
   days on market $30,000 Active 140 DOM
3. 2026-06-08
   days on market $30,000 Active 139 DOM
4. 2026-06-07
   days on market $30,000 Active 138 DOM
5. 2026-06-04
   days on market $30,000 Active 135 DOM
6. 2026-06-03
   days on market $30,000 Active 134 DOM
7. 2026-06-02
   days on market $30,000 Active 133 DOM
8. 2026-06-01
   days on market $30,000 Active 132 DOM
9. 2026-05-31
   days on market $30,000 Active 131 DOM
10. 2026-01-20
    listed $30,000 Active
11. 2026-01-20
    historical
12. 2026-01-09
    status Active
13. 2025-12-03
    historical Contingent - No Showings
14. 2025-10-11
    listed Active
15. 2010-04-16
    historical
16. 2010-03-29
    price Price Change
17. 2010-02-19
    listed New
18. 2007-02-13
    historical
19. 2006-09-23
    listed
20. 2002-03-28
    soldstatus $77,500

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 69% 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: $30,590
• − Mortgage interest: −$1,680
• − Property taxes: −$450
• − Insurance: −$150
• − Repairs & maintenance: −$2,447
• − Management: −$2,447
• − Depreciation: −$873
• Taxable income: $22,543
• Est. tax owed @ 24.0%: −$5,410
• After-tax cash flow: $16,268/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

Price history

-61.3% since first listed

11 events — show timeline

• 2026-01-20 Listing Removed — MRED as Distributed by MLS Grid
• 2026-01-20 Listed $30,000 MRED as Distributed by MLS Grid
• 2026-01-09 Relisted — MRED as Distributed by MLS Grid
• 2025-12-03 Contingent — MRED as Distributed by MLS Grid
• 2025-10-11 Listed — MRED as Distributed by MLS Grid
• 2010-04-16 Listing Removed — MRED as Distributed by MLS Grid
• 2010-03-29 Price Changed — MRED as Distributed by MLS Grid
• 2010-02-19 Listed — MRED as Distributed by MLS Grid
• 2007-02-13 Listing Removed — MRED as Distributed by MLS Grid
• 2006-09-23 Listed — MRED as Distributed by MLS Grid
• 2002-03-28 Sold (Public Records) $77,500 Public Records

Property tax history

+3.9%/yr

Latest (2023): $5,909 · +13.7% YoY. Source: county tax records.