775 Greenbay Ave · Calumet City, IL 60409

$119,000

3 bd · 1.5 ba · 1,620 sqft · SingleFamily public records · 116 Days on market

Built 1981 3,772 sqft lot Est $168k · 29% under

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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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• 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

Listing remarks MLS

Excellent, 3 Large Bedrooms Home, Well maintain, Living room W/ hardwood floors, Good size Kitchen, Additional enclosed room for your ideas, Finished basement with full bathroom, Laundry room with appliances included. Great space! Garage for 2 cars plus. Very nice size yard for gatherings, BBQ parties!!! Easy to show. 5 lots total.

Key facts

• 2 plus car garage
• Finished basement
• Total of 5 lots

Tags

• HARDWOOD FLOORS
• FINISHED BASEMENT
• ADDITIONAL ENCLOSED ROOM
• 2 PLUS CAR GARAGE
• TOTAL OF 5 LOTS

Property features AI

Finance

• Other: Parcel information available for multiple parcels; Directions: Burnham to 156th St W to Greenbay (on the corner)
• HOA & community: No master association fee required

Exterior

• Parking: Attached garage (garage owned); Concrete driveway; Two parking spaces total
• Utilities: Water from Lake Michigan / public water; Public sewer (overhead sewers); Electric service available
• Home design: Detached single-family home; Split-level / bi-level design; Fee simple ownership
• Construction: Brick construction; Asphalt roof; Concrete perimeter foundation; Built approximately 41–50 years ago
• Exterior features: Patio with screened area; Corner lot; Sidewalks and street lights in neighborhood; Paved streets

Interior

• Kitchen: Kitchen on main level — 15 x 11, ceramic tile flooring, blinds and shades
• Bedrooms: Master bedroom (second level) — 13 x 11, hardwood floors, blinds and curtains/drapes; Bedroom 2 (second level) — 12 x 10, hardwood floors, blinds; Bedroom 3 (second level) — 11 x 10, hardwood floors, curtains/drapes
• Flooring: Hardwood throughout main living and bedrooms; Ceramic tile in kitchen; Other flooring in some lower-level rooms
• Bathrooms: Two full bathrooms
• Heating & cooling: Natural gas forced-air heating; Wall cooling units
• Interior features: Partially finished basement; Seven total rooms
• Laundry & utility: Laundry room (lower level) — 7 x 9

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $119k.

Deal economics

• At list price, monthly cash flow is $473 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $119k).
• Recommended offer: $108k (9.0% below list) — sets the bar for market timing.
• Cap rate 11.1% vs local median 8.3% 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); 196 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals leasing fast (median 12d on market — plan ~1-2 weeks tenant-placement turnaround); 6,272 units permitted in Cook County in 2024 (4,658 in 5+ unit buildings).
• This rent runs 43% 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 $823 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 $33k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 116 days — a 9% lower offer ($108k) is reasonable based on typical stale-listing flexibility.
• 10 sale attempts since 19y 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.
• Current owner paid $90k; 32% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: property tax is 4.2% of price.

Recommended offer $108,290 (9.0% below list)

Questions for the listing agent

1. It's been on market 116 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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. 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: 1.66% ✓
• Cap rate: 11.06%
• Cash-on-cash: 17.04%
• DSCR: 1.76
• GRM: 5.0

CMA / ARV

• ARV (on-the-fly): $168,480
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
655 Hirsch Ave	0.33mi	4/1.5 (+1)	1,686 (+4%)	0mo	$191,000	$113	72
207 156th Pl	0.52mi	4/2.5 (+1)	1,625 (+0%)	3mo	$200,000	$123	64
737 Newell Ave	0.14mi	3/1.0	1,386 (-14%)	6mo	$80,000	$58	62
746 May St	0.11mi	3/2.0	1,840 (+14%)	10mo	$192,000	$104	62
616 Ingraham Ave	0.71mi	3/1.0	1,702 (+5%)	0mo	$33,000	$19	56
566 Hirsch Ave	0.51mi	4/2.0 (+1)	1,734 (+7%)	3mo	$92,500	$53	55
642 Greenbay Ave	0.34mi	3/1.0	1,800 (+11%)	11mo	$160,000	$89	55
589 Superior Ave	0.49mi	3/1.5	1,439 (-11%)	8mo	$112,500	$78	52
525 Price Ave	0.64mi	2/1.0 (-1)	1,684 (+4%)	6mo	$57,754	$34	51
658 Mackinaw Ave	0.32mi	4/2.0 (+1)	1,383 (-15%)	4mo	$183,000	$132	50
943 Greenbay Ave	0.36mi	3/2.0	1,843 (+14%)	12mo	$212,500	$115	49
1051 Burnham Ave	0.62mi	3/2.0	1,824 (+13%)	0mo	$230,000	$126	48

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: 12.7%
• Equity multiple: 1.53×
• Total profit: $17,566
• Equity at exit: $17,743

10-year hold

• IRR: 24.4%
• Equity multiple: 3.50×
• Total profit: $83,436
• Equity at exit: $10,289

Cash invested: $33,320 (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: 5.0×

Monthly cashflow live

• Estimated rent: $1,980 high
• Mortgage (P&I): −$624
• Tax from tax record: −$418 /mo · $5,011/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$416
• Net cashflow: $473

Break-even live

Break-even rent $1,381

Max offer price $119,000

Occupancy floor 71%

Sensitivity live

Price	-10% $541	-5% $507	+0% $473	+5% $440	+10% $406
Rent	-10% $317	-5% $395	+0% $473	+5% $551	+10% $630
Rate	-1.0pp $533	-0.5pp $503	base $473	+0.5pp $442	+1.0pp $411

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: $29,750
• Closing costs: $3,570
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
34 Elizabeth St Calumet City, IL	3.0	1.0	1246	$2,400	$1.93	0d	1	0.82mi
3 Waltham St Hammond, IN	3.0	1.0	1200	$1,095	$0.91	26d	1	0.87mi
671 Saginaw Ave Calumet City, IL	3.0	2.0	1250	$2,276	$1.82	11d	1	0.95mi
1312 Gordon Ave Calumet City, IL	2.0	1.0	1134	$1,600	$1.41	8d	1	1.07mi
2790 E State St Apt 2E Burnham, IL	3.0	2.0	1100	$1,695	$1.54	26d	1	1.35mi
617 Kane St Hammond, IN	4.0	2.0	2146	$2,300	$1.07	0d	1	1.42mi
2605 E Martha Pl Chicago, IL	2.0	2.0	1353	$1,860	$1.37	23d	1	1.45mi

Listing history 43 events

1. 2026-06-08
   days on market $119,000 Active 116 DOM
2. 2026-06-07
   days on market $119,000 Active 115 DOM
3. 2026-06-04
   days on market $119,000 Active 112 DOM
4. 2026-06-03
   days on market $119,000 Active 111 DOM
5. 2026-06-02
   days on market $119,000 Active 110 DOM
6. 2026-06-01
   days on market $119,000 Active 109 DOM
7. 2026-05-31
   days on market $119,000 Active 108 DOM
8. 2026-05-08
   status Active
9. 2026-04-16
   historical Contingent - Continue to Show
10. 2026-02-12
    listed $119,000 Active
11. 2026-01-19
    historical
12. 2026-01-06
    price
13. 2025-11-13
    price
14. 2025-11-13
    status Temporarily No Showings
15. 2025-11-12
    historical
16. 2025-10-22
    price
17. 2025-08-03
    price
18. 2025-07-02
    listed Active
19. 2017-04-17
    soldstatus $90,000
20. 2017-04-12
    soldstatus $90,000 Closed Sale 333-char remark

    Show marketing remark (333 chars)

    Excellent, 3 Large Bedrooms Home, Well maintain, Living room W/ hardwood floors, Good size Kitchen, Additional enclosed room for your ideas, Finished basement with full bathroom, Laundry room with appliances included. Great space! Garage for 2 cars plus. Very nice size yard for gatherings, BBQ parties!!! Easy to show. 5 lots total.

21. 2017-02-14
    status Pending 333-char remark

    Show marketing remark (333 chars)

    Excellent, 3 Large Bedrooms Home, Well maintain, Living room W/ hardwood floors, Good size Kitchen, Additional enclosed room for your ideas, Finished basement with full bathroom, Laundry room with appliances included. Great space! Garage for 2 cars plus. Very nice size yard for gatherings, BBQ parties!!! Easy to show. 5 lots total.

22. 2016-07-09
    price $89,900 333-char remark

    Show marketing remark (333 chars)

    Excellent, 3 Large Bedrooms Home, Well maintain, Living room W/ hardwood floors, Good size Kitchen, Additional enclosed room for your ideas, Finished basement with full bathroom, Laundry room with appliances included. Great space! Garage for 2 cars plus. Very nice size yard for gatherings, BBQ parties!!! Easy to show. 5 lots total.

23. 2016-07-07
    price $84,900 333-char remark

    Show marketing remark (333 chars)

    Excellent, 3 Large Bedrooms Home, Well maintain, Living room W/ hardwood floors, Good size Kitchen, Additional enclosed room for your ideas, Finished basement with full bathroom, Laundry room with appliances included. Great space! Garage for 2 cars plus. Very nice size yard for gatherings, BBQ parties!!! Easy to show. 5 lots total.

24. 2016-07-07
    status Reactivated 333-char remark

    Show marketing remark (333 chars)

    Excellent, 3 Large Bedrooms Home, Well maintain, Living room W/ hardwood floors, Good size Kitchen, Additional enclosed room for your ideas, Finished basement with full bathroom, Laundry room with appliances included. Great space! Garage for 2 cars plus. Very nice size yard for gatherings, BBQ parties!!! Easy to show. 5 lots total.

25. 2016-06-10
    historical Contingent 333-char remark

    Show marketing remark (333 chars)

    Excellent, 3 Large Bedrooms Home, Well maintain, Living room W/ hardwood floors, Good size Kitchen, Additional enclosed room for your ideas, Finished basement with full bathroom, Laundry room with appliances included. Great space! Garage for 2 cars plus. Very nice size yard for gatherings, BBQ parties!!! Easy to show. 5 lots total.

26. 2016-05-25
    listed $90,000 New 333-char remark

    Show marketing remark (333 chars)

    Excellent, 3 Large Bedrooms Home, Well maintain, Living room W/ hardwood floors, Good size Kitchen, Additional enclosed room for your ideas, Finished basement with full bathroom, Laundry room with appliances included. Great space! Garage for 2 cars plus. Very nice size yard for gatherings, BBQ parties!!! Easy to show. 5 lots total.

27. 2012-03-12
    soldstatus $28,500
28. 2012-02-28
    soldstatus $28,199 Closed Sale
29. 2012-01-27
    status Pending
30. 2012-01-17
    price $31,100 Price Change
31. 2012-01-17
    status Price Change
32. 2012-01-06
    status Pending
33. 2011-12-14
    price $35,340 Price Change
34. 2011-11-15
    price $38,000 Price Change
35. 2011-11-07
    price $42,687 Price Change
36. 2011-10-12
    price $45,900 Price Change
37. 2011-09-15
    price $51,150 Price Change
38. 2011-08-17
    listed $55,000 New
39. 2007-10-19
    historical
40. 2007-07-16
    historical
41. 2007-06-27
    listed
42. 2007-04-19
    listed
43. 1995-10-18
    soldstatus $85,500

ⓘ 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: $5,011 · $418/mo
• Projected year-2 tax: $5,011 · $418/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 ≥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: $23,763
• − Mortgage interest: −$6,666
• − Property taxes: −$5,011
• − Insurance: −$595
• − Repairs & maintenance: −$1,901
• − Management: −$1,901
• − Depreciation: −$3,462
• Taxable income: $4,227
• Est. tax owed @ 24.0%: −$1,015
• After-tax cash flow: $4,664/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

+39.2% since first listed

36 events — show timeline

• 2026-05-08 Relisted — MRED as Distributed by MLS Grid
• 2026-04-16 Contingent — MRED as Distributed by MLS Grid
• 2026-02-12 Listed $119,000 MRED as Distributed by MLS Grid
• 2026-01-19 Listing Removed — MRED as Distributed by MLS Grid
• 2026-01-06 Price Changed — MRED as Distributed by MLS Grid
• 2025-11-13 Price Changed — MRED as Distributed by MLS Grid
• 2025-11-13 Relisted — MRED as Distributed by MLS Grid
• 2025-11-12 Listing Removed — MRED as Distributed by MLS Grid
• 2025-10-22 Price Changed — MRED as Distributed by MLS Grid
• 2025-08-03 Price Changed — MRED as Distributed by MLS Grid
• 2025-07-02 Listed — MRED as Distributed by MLS Grid
• 2017-04-17 Sold (Public Records) $90,000 Public Records
• 2017-04-12 Sold (MLS) $90,000 MRED as Distributed by MLS Grid
• 2017-02-14 Pending — MRED as Distributed by MLS Grid
• 2016-07-09 Price Changed $89,900 MRED as Distributed by MLS Grid
• 2016-07-07 Price Changed $84,900 MRED as Distributed by MLS Grid
• 2016-07-07 Relisted — MRED as Distributed by MLS Grid
• 2016-06-10 Contingent — MRED as Distributed by MLS Grid
• 2016-05-25 Listed $90,000 MRED as Distributed by MLS Grid
• 2012-03-12 Sold (Public Records) $28,500 Public Records
• 2012-02-28 Sold (MLS) $28,199 MRED as Distributed by MLS Grid
• 2012-01-27 Pending — MRED as Distributed by MLS Grid
• 2012-01-17 Relisted — MRED as Distributed by MLS Grid
• 2012-01-17 Price Changed $31,100 MRED as Distributed by MLS Grid
• 2012-01-06 Pending — MRED as Distributed by MLS Grid
• 2011-12-14 Price Changed $35,340 MRED as Distributed by MLS Grid
• 2011-11-15 Price Changed $38,000 MRED as Distributed by MLS Grid
• 2011-11-07 Price Changed $42,687 MRED as Distributed by MLS Grid
• 2011-10-12 Price Changed $45,900 MRED as Distributed by MLS Grid
• 2011-09-15 Price Changed $51,150 MRED as Distributed by MLS Grid
• 2011-08-17 Listed $55,000 MRED as Distributed by MLS Grid
• 2007-10-19 Listing Removed — MRED as Distributed by MLS Grid
• 2007-07-16 Listing Removed — MRED as Distributed by MLS Grid
• 2007-06-27 Listed — MRED as Distributed by MLS Grid
• 2007-04-19 Listed — MRED as Distributed by MLS Grid
• 1995-10-18 Sold (Public Records) $85,500 Public Records

Property tax history

+0.9%/yr

Latest (2023): $5,011 · +9.4% YoY. Source: county tax records.