513 Merrill Ave · Calumet City, IL 60409

$185,000

3 bd · 1.5 ba · 1,250 sqft · SingleFamily public records · 289 Days on market

Built 1975 Est $190k · at est.

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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 +25.9/30.0
• DSCR +8.7/10.0
• ARV discount +8.7/15.0
• 1% rule +6.9/10.0
• 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

Listing remarks MLS

Just in time before the end of Summer - a wonderful 4 bedroom, 2 1/2 bathroom home with a fully finished basement and 2 car garage available soon! Welcome your family to a tastefully updated home throughout including new luxury vinyl flooring throughout the bedrooms and front room and much more. Raised ceilings in the kitchen giving the home a wide open feel. Nice granite countertops with tastefully updated cabinets. Modern vanities and finishes throughout the home. Home was tastefully updated/remodeled prior to the current owner purchasing and are still all in excellent condition; Roof, hot water heater, air condition, furnace, plumbing, electrical, utilities. All appliances are included! Including stainless steel appliances in the kitchen as well as the washer/dryer downstairs. Fully finished basement with nice decorative tile throughout. Great space for having family over. Full bath in the basement as well complete with a body spray shower. This home will not be available for long, come take a look while it is available!

Key facts

• Large backyard
• Full basement
• Private parking

Tags

• SPACIOUS LAYOUT
• ABUNDANT NATURAL LIGHT
• WELL-APPOINTED KITCHEN
• FULL BASEMENT
• LARGE BACKYARD
• PRIVATE PARKING

Property features AI

Finance

• Other: Ownership: Fee simple; Property not currently leased; Possession at closing
• HOA & community: No master association fees required

Exterior

• Parking: Detached garage (2 garage spaces, 2 total parking spaces)
• Utilities: Water source: Lake Michigan; Public sewer
• Home design: Detached single-family home; 1.5-story
• Construction: Brick construction; Built before 1978
• Exterior features: Lot less than 0.25 acre; Lot dimensions: 4920

Interior

• Kitchen: Range; Microwave; Dishwasher; Refrigerator; Kitchen with eating area/table space
• Bedrooms: 4 bedrooms (Master bedroom on main level; additional bedrooms on main and lower levels)
• Bathrooms: 2 full bathrooms; 1 half bathroom; Basement includes bathroom
• Heating & cooling: Natural gas heating; Central air conditioning
• Interior features: 7 total rooms; Finished full basement
• Laundry & utility: Laundry room in basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $185k.

Deal economics

• At list price, monthly cash flow is $457 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $185k).
• Recommended offer: $163k (12.0% 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-, 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; 22 comparable units currently listed for rent nearby; rentals leasing fast (median 10d 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 $2,197/mo this rent would consume 48% 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 $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 6.2% rent growth), your $52k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 289 days — a 12% lower offer ($163k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 15y ago; this cycle's ask has dropped $75k (29%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $162,800 (12.0% below list)

Questions for the listing agent

1. It's been on market 289 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 1975 — 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. 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: 1.19% ✓
• Cap rate: 9.26%
• Cash-on-cash: 10.60%
• DSCR: 1.47
• GRM: 7.0

CMA / ARV

• ARV (on-the-fly): $190,000
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
494 Oglesby Ave	0.22mi	4/2.5 (+1)	1,252 (+0%)	2mo	$245,000	$196	79
651 Bensley Ave	0.50mi	3/1.5	1,277 (+2%)	2mo	$235,000	$184	72
372 Bensley Ave	0.47mi	4/2.0 (+1)	1,250 (0%)	2mo	$235,000	$188	69
453 Hoxie Ave	0.52mi	3/1.5	1,304 (+4%)	0mo	$195,000	$150	68
591 Paxton Ave	0.22mi	4/2.0 (+1)	1,340 (+7%)	3mo	$261,000	$195	68
665 Hoxie Ave	0.62mi	3/1.5	1,264 (+1%)	2mo	$188,000	$149	68
605 Saginaw Ave	0.67mi	3/1.5	1,250 (0%)	6mo	$190,000	$152	63
288 Calhoun Ave	0.66mi	4/2.0 (+1)	1,260 (+1%)	2mo	$215,000	$171	60
412 Saginaw Ave	0.64mi	3/1.5	1,314 (+5%)	4mo	$171,000	$130	59
317 Madison Ave	0.52mi	3/1.0	1,152 (-8%)	3mo	$67,200	$58	59
286 Calhoun Ave	0.66mi	3/2.0	1,424 (+14%)	3mo	$203,000	$143	41
14737 Blackstone Ave	0.67mi	3/1.5	1,425 (+14%)	5mo	$150,000	$105	41

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: 3.1%
• Equity multiple: 1.12×
• Total profit: $6,422
• Equity at exit: $27,584

10-year hold

• IRR: 15.5%
• Equity multiple: 2.45×
• Total profit: $74,914
• Equity at exit: $15,995

Cash invested: $51,800 (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: 7.0×

Monthly cashflow live

• Estimated rent: $2,197 high
• Mortgage (P&I): −$970
• Tax est. 1.5%: −$231 /mo · $2,775/yr
• Insurance: −$77
• HOA: −$0
• Vacancy / Maint / Mgmt: −$461
• Net cashflow: $457

Break-even live

Break-even rent $1,618

Max offer price $185,000

Occupancy floor 74%

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: $46,250
• Closing costs: $5,550
• Reserves months: —
• Total cash needed: —

Rent comps 22 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
405 Clyde Ave Calumet City, IL	3.0	1.0	973	$2,300	$2.36	1d	1	0.22mi
409 Madison Ave Unit 2 Calumet City, IL	3.0	1.5	1200	$1,795	$1.50	3d	1	0.31mi
660 Clyde Ave Calumet City, IL	3.0	1.5	1400	$1,750	$1.25	3d	1	0.39mi
659 Paxton Ave Calumet City, IL	3.0	2.0	1255	$2,461	$1.96	10d	1	0.40mi
15400 Merrill Ave South Holland, IL	4.0	2.0	1508	$3,330	$2.21	22d	1	0.48mi
1860 State St Calumet City, IL	3.0	1.0	1100	$1,800	$1.64	17d	1	0.57mi
250 Yates Ave Unit 1616 Dolton 1E Calumet City, IL	2.0	1.0	875	$1,465	$1.67	7d	1	0.64mi
14738 Blackstone Ave Dolton, IL	3.0	1.0	1017	$2,400	$2.36	10d	1	0.66mi
101 Oglesby Ave Calumet City, IL	2.0	1.0	1000	$1,800	$1.80	22d	1	0.74mi
101 Oglesby Ave Calumet City, IL	2.0	1.0	1000	$1,800	$1.80	19d	1	0.74mi
101 Oglesby Ave Calumet City, IL	2.0	1.0	1100	$1,800	$1.64	11d	1	0.74mi
671 Saginaw Ave Calumet City, IL	3.0	2.0	1250	$2,276	$1.82	10d	1	0.76mi
14610 Blackstone Ave Dolton, IL	3.0	1.0	1017	$2,400	$2.36	6d	1	0.78mi
14518 S Hoxie Ave Chicago, IL	3.0	1.5	1128	$2,450	$2.17	1d	1	0.79mi
14716 Dorchester Ave Dolton, IL	3.0	2.0	1250	$2,800	$2.24	19d	1	0.80mi
1429 Kasten Dr Dolton, IL	3.0	1.0	1600	$2,500	$1.56	1d	1	0.84mi
15231 Hastings Dr Dolton, IL	4.0	1.5	1487	$2,146	$1.44	7d	1	0.92mi
2605 E Martha Pl Chicago, IL	2.0	2.0	1353	$1,860	$1.37	22d	1	1.01mi
15707 Dante Dr South Holland, IL	3.0	2.0	1800	$2,950	$1.64	2d	1	1.03mi
14433 Woodlawn Ave Dolton, IL	4.0	2.0	1300	$2,000	$1.54	18d	1	1.16mi
2790 E State St Apt 2E Burnham, IL	3.0	2.0	1100	$1,695	$1.54	24d	1	1.20mi
16001 Avalon Ave South Holland, IL	3.0	2.0	1136	$3,330	$2.93	6d	1	1.49mi

Listing history 30 events

1. 2026-06-18
   days on market $185,000 Active 289 DOM
2. 2026-06-17
   pricestatus $185,000 Active 288 DOM
3. 2026-06-17
   days on market $200,000 Contingent - Continue to Show 288 DOM
4. 2026-06-16
   days on market $200,000 Contingent - Continue to Show 287 DOM
5. 2026-06-15
   days on market $200,000 Contingent - Continue to Show 286 DOM
6. 2026-06-13
   days on market $200,000 Contingent - Continue to Show 284 DOM
7. 2026-06-13
   days on market $200,000 Contingent - Continue to Show 283 DOM
8. 2026-06-09
   days on market $200,000 Contingent - Continue to Show 280 DOM
9. 2026-06-08
   days on market $200,000 Contingent - Continue to Show 279 DOM
10. 2026-06-07
    days on market $200,000 Contingent - Continue to Show 278 DOM
11. 2026-06-04
    statusdays on market $200,000 Contingent - Continue to Show 275 DOM
12. 2026-06-03
    days on market $200,000 Active 274 DOM
13. 2026-06-02
    days on market $200,000 Active 273 DOM
14. 2026-06-01
    days on market $200,000 Active 272 DOM
15. 2026-05-31
    days on market $200,000 Active 271 DOM
16. 2026-05-01
    price $200,000
17. 2025-10-07
    price $249,000
18. 2025-09-12
    price $259,899
19. 2025-09-02
    listed $259,900 Active
20. 2021-12-16
    soldstatus $227,000
21. 2021-12-03
    soldstatus $227,000 Closed 1039-char remark

    Show marketing remark (1039 chars)

    Just in time before the end of Summer - a wonderful 4 bedroom, 2 1/2 bathroom home with a fully finished basement and 2 car garage available soon! Welcome your family to a tastefully updated home throughout including new luxury vinyl flooring throughout the bedrooms and front room and much more. Raised ceilings in the kitchen giving the home a wide open feel. Nice granite countertops with tastefully updated cabinets. Modern vanities and finishes throughout the home. Home was tastefully updated/remodeled prior to the current owner purchasing and are still all in excellent condition; Roof, hot water heater, air condition, furnace, plumbing, electrical, utilities. All appliances are included! Including stainless steel appliances in the kitchen as well as the washer/dryer downstairs. Fully finished basement with nice decorative tile throughout. Great space for having family over. Full bath in the basement as well complete with a body spray shower. This home will not be available for long, come take a look while it is available!

22. 2021-09-30
    status Active Under Contract 1039-char remark

    Show marketing remark (1039 chars)

    Just in time before the end of Summer - a wonderful 4 bedroom, 2 1/2 bathroom home with a fully finished basement and 2 car garage available soon! Welcome your family to a tastefully updated home throughout including new luxury vinyl flooring throughout the bedrooms and front room and much more. Raised ceilings in the kitchen giving the home a wide open feel. Nice granite countertops with tastefully updated cabinets. Modern vanities and finishes throughout the home. Home was tastefully updated/remodeled prior to the current owner purchasing and are still all in excellent condition; Roof, hot water heater, air condition, furnace, plumbing, electrical, utilities. All appliances are included! Including stainless steel appliances in the kitchen as well as the washer/dryer downstairs. Fully finished basement with nice decorative tile throughout. Great space for having family over. Full bath in the basement as well complete with a body spray shower. This home will not be available for long, come take a look while it is available!

23. 2021-09-27
    listed $209,900 Active 1039-char remark

    Show marketing remark (1039 chars)

    Just in time before the end of Summer - a wonderful 4 bedroom, 2 1/2 bathroom home with a fully finished basement and 2 car garage available soon! Welcome your family to a tastefully updated home throughout including new luxury vinyl flooring throughout the bedrooms and front room and much more. Raised ceilings in the kitchen giving the home a wide open feel. Nice granite countertops with tastefully updated cabinets. Modern vanities and finishes throughout the home. Home was tastefully updated/remodeled prior to the current owner purchasing and are still all in excellent condition; Roof, hot water heater, air condition, furnace, plumbing, electrical, utilities. All appliances are included! Including stainless steel appliances in the kitchen as well as the washer/dryer downstairs. Fully finished basement with nice decorative tile throughout. Great space for having family over. Full bath in the basement as well complete with a body spray shower. This home will not be available for long, come take a look while it is available!

24. 2012-07-18
    soldstatus $145,000
25. 2012-07-12
    soldstatus $145,000 Closed Sale 432-char remark

    Show marketing remark (432 chars)

    COMPLETELY REHABBED 4BR BRICK RANCH W/2 CAR GARAGE FEATURES SPARKLING REFINISHED H/W FLR, NEW GOURMET KITCHEN HAS CATHEDRAL CEILING, SKYLIGHT, GRANITE COUNTER, NEW CABS & SS APPLS, STUNNING NEW BATHS W/CERAMIC TILE DESIGN, MODERN VANITIES & JACUZZI, FULLY FINISHED BSMT W/HUGE FAM RM, BR & BATH W/BODY SPRAY SHOWER, NEW WSHR/DRYER, NEW INCLUDES:ROOF,WINDOWS,DRS,FURN,HT WTR HTR,ELEC,PLUM & MORE!! NEW A/C AT CLOSING!

26. 2012-05-21
    historical Contingent 432-char remark

    Show marketing remark (432 chars)

    COMPLETELY REHABBED 4BR BRICK RANCH W/2 CAR GARAGE FEATURES SPARKLING REFINISHED H/W FLR, NEW GOURMET KITCHEN HAS CATHEDRAL CEILING, SKYLIGHT, GRANITE COUNTER, NEW CABS & SS APPLS, STUNNING NEW BATHS W/CERAMIC TILE DESIGN, MODERN VANITIES & JACUZZI, FULLY FINISHED BSMT W/HUGE FAM RM, BR & BATH W/BODY SPRAY SHOWER, NEW WSHR/DRYER, NEW INCLUDES:ROOF,WINDOWS,DRS,FURN,HT WTR HTR,ELEC,PLUM & MORE!! NEW A/C AT CLOSING!

27. 2012-04-27
    listed $149,500 New 432-char remark

    Show marketing remark (432 chars)

    COMPLETELY REHABBED 4BR BRICK RANCH W/2 CAR GARAGE FEATURES SPARKLING REFINISHED H/W FLR, NEW GOURMET KITCHEN HAS CATHEDRAL CEILING, SKYLIGHT, GRANITE COUNTER, NEW CABS & SS APPLS, STUNNING NEW BATHS W/CERAMIC TILE DESIGN, MODERN VANITIES & JACUZZI, FULLY FINISHED BSMT W/HUGE FAM RM, BR & BATH W/BODY SPRAY SHOWER, NEW WSHR/DRYER, NEW INCLUDES:ROOF,WINDOWS,DRS,FURN,HT WTR HTR,ELEC,PLUM & MORE!! NEW A/C AT CLOSING!

28. 2011-11-15
    soldstatus $37,500 Closed Sale
29. 2011-10-07
    status Pending
30. 2011-10-04
    listed $34,900 New

ⓘ 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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥101°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 4 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $26,369
• − Mortgage interest: −$10,363
• − Property taxes: −$2,775
• − Insurance: −$925
• − Repairs & maintenance: −$2,110
• − Management: −$2,110
• − Depreciation: −$5,382
• Taxable income: $2,705
• Est. tax owed @ 24.0%: −$649
• After-tax cash flow: $4,840/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

+473.1% since first listed

15 events — show timeline

• 2026-05-01 Price Changed $200,000 MRED as Distributed by MLS Grid
• 2025-10-07 Price Changed $249,000 MRED as Distributed by MLS Grid
• 2025-09-12 Price Changed $259,899 MRED as Distributed by MLS Grid
• 2025-09-02 Listed $259,900 MRED as Distributed by MLS Grid
• 2021-12-16 Sold (Public Records) $227,000 Public Records
• 2021-12-03 Sold (MLS) $227,000 MRED as Distributed by MLS Grid
• 2021-09-30 Pending — MRED as Distributed by MLS Grid
• 2021-09-27 Listed $209,900 MRED as Distributed by MLS Grid
• 2012-07-18 Sold (Public Records) $145,000 Public Records
• 2012-07-12 Sold (MLS) $145,000 MRED as Distributed by MLS Grid
• 2012-05-21 Contingent — MRED as Distributed by MLS Grid
• 2012-04-27 Listed $149,500 MRED as Distributed by MLS Grid
• 2011-11-15 Sold (MLS) $37,500 MRED as Distributed by MLS Grid
• 2011-10-07 Pending — MRED as Distributed by MLS Grid
• 2011-10-04 Listed $34,900 MRED as Distributed by MLS Grid

Property tax history

+7.2%/yr

Latest (2023): $11,668 · +31.1% YoY. Source: county tax records.