12532 S Throop St

Calumet Park, IL 60827

$164,000D+

3 bd · 1.0 ba · 1,234 sqft · Built 1938 · SingleFamily · Active · 166 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,791/mo
• Mortgage (P&I): −$860
• Tax + insurance: −$529
• HOA: −$0
• Vac / Maint / Mgmt: −$376
• Net cashflow: $25/mo
• Annual: $305/yr
• Cap rate: 6.48%
• Cash-on-cash: 0.66%
• DSCR: 1.03
• 1% rule: 1.09%
• Cash to close: $45,920

Investor read

• This is a 3-bed/1.0-bath single-family listed at $164k.
• At list price, monthly cash flow is $25 ($305/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $164k).
• It's been on market 166 days — a 12% lower offer ($144k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $144k (12.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Location reads 72/100 on livability (#308 in IL) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: employment C-, crime F.
• Chsd 218 (suburban): math 14% / reading 20% proficiency, ranked #454 of 620 in IL (top 73%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Burr Oak Academy (318 students, 0% FRL); Calumet Elem School (math 24% / reading 24%, grade F, #332 of 665 statewide, top 55%, 310 students, 0% FRL); H L Richards High Sch(Campus) (math 17% / reading 20%, grade F, #427 of 693 statewide, top 62%, 1,676 students, 0% FRL).
• Watch-outs: property tax is 3.4% of price; built in 1938 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: Rents rising fast (+7.8%/yr); 77 active listings in the ZIP; 14 comparable units currently listed for rent nearby; rentals at typical pace (median 14d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 6,272 units permitted in Cook County in 2024 (4,658 in 5+ unit buildings).
• 15 sale attempts since 4y ago; this cycle's ask is 9271% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $70k; list at $164k implies a 133% gain — meaningful room to come down on a strong offer.
• At $1,791/mo this rent would consume 58% of the median local household income ($37k/yr) (locally 1868% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Questions for listing agent

• It's been on market 166 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Built in 1938 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• Crime grade is F 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?
• 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?