305 River Oaks Dr · Calumet City, IL 60409

$22,000

3 bd · 2.5 ba · 1,357 sqft · MultiFamily public records · 595 Days on market

Built 1929 0.39 ac lot ↓ 54% since listing

---

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 (5+ Unit). Listing-text estimate: 2 units. estimate disagrees with records

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks

* * * Attention all investors * * * Solid 2-unit with a coach house in the rear! Bring your renovation ideas. Sold strictly as-is. No survey. Must take subject to Calumet City As-Is escrow requirements. Property not available for rent.

Key facts

• 2-unit property
• Coach house
• Renovation potential

Tags

• 2-UNIT PROPERTY
• COACH HOUSE
• RENOVATION POTENTIAL

Property features AI

Finance

• Other: Building contains three units; Property age listed as 91–100 years
• Financial info: No special service area

Exterior

• Parking: Attached garage (garage owned); Two garage spaces, two total parking spaces
• Utilities: Public water; Public sewer
• Home design: Two-to-four unit property (three units); Fee simple ownership; Built before 1978
• Construction: Frame construction
• Exterior features: Approximately 0.25–0.49 acre lot; Lot dimensions: 17110

Interior

• Kitchen: No appliances listed for units
• Bedrooms: Three bedrooms total; Unit 1 (first floor): 2 bedrooms; Unit 2 (second floor): 1 bedroom; Unit 3: 1 bedroom
• Bathrooms: Two full bathrooms total; Each unit includes one full bathroom
• Heating & cooling: Natural gas heating
• Interior features: Seven total rooms; Full, unfinished basement
• Laundry & utility: No laundry appliances listed

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $22k.

Deal economics

• At list price, monthly cash flow is $2k ($23k/yr) — positive. Per door: $971/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $22k).
• Recommended offer: $19k (12.0% below list) — sets the bar for market timing.
• Cap rate 112.2% 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; 13 comparable units currently listed for rent nearby; rentals at typical pace (median 18d on market — plan ~3-4 weeks tenant-placement turnaround); 6,272 units permitted in Cook County in 2024 (4,658 in 5+ unit buildings).
• At $2,650/mo this rent would consume 57% 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 $152 of loan paydown is wiped out by about $660 of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 6.2% rent growth), your $6k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 595 days — a 12% lower offer ($19k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 3y ago; this cycle's ask has dropped $58k (72%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1929 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $19,360 (12.0% below list)

Questions for the listing agent

1. It's been on market 595 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1929 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. 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?
10. 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.
11. 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.
12. 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: 12.05% ✓
• Cap rate: 112.19%
• Cash-on-cash: 378.21%
• DSCR: 17.83
• GRM: 0.7

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: 21.92×
• Total profit: $128,848
• Equity at exit: $3,280

10-year hold

• IRR: —
• Equity multiple: 51.29×
• Total profit: $309,778
• Equity at exit: $1,902

Cash invested: $6,160 (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: 1.4×

Monthly cashflow live

• Estimated rent: $2,650 medium
• Mortgage (P&I): −$115
• Tax est. 1.5%: −$28 /mo · $330/yr
• Insurance: −$9
• HOA: −$0
• Vacancy / Maint / Mgmt: −$556
• Net cashflow: $1,941

Break-even live

Break-even rent $192

Max offer price $22,000

Occupancy floor 22%

Sensitivity live

Price	-10% $1,957	-5% $1,949	+0% $1,941	+5% $1,934	+10% $1,926
Rent	-10% $1,732	-5% $1,837	+0% $1,941	+5% $2,046	+10% $2,151
Rate	-1.0pp $1,953	-0.5pp $1,947	base $1,941	+0.5pp $1,936	+1.0pp $1,930

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,650
Total (2 units)			$2,650

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: $5,500
• Closing costs: $660
• Reserves months: —
• Total cash needed: —

Rent comps 13 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1312 Gordon Ave Calumet City, IL	2.0	1.0	1134	$1,600	$1.41	7d	1	0.08mi
34 Elizabeth St Calumet City, IL	3.0	1.0	1246	$2,400	$1.93	1d	1	0.69mi
1539 Wentworth Ave Unit 3W Calumet City, IL	3.0	1.0	1100	$1,700	$1.55	12d	1	0.72mi
3 Waltham St Hammond, IN	3.0	1.0	1200	$1,095	$0.91	25d	1	0.80mi
5 Ruth St Unit 2W Hammond, IN	2.0	1.0	900	$1,250	$1.39	13d	1	0.84mi
3 Ruth St Hammond, IN	2.0	1.0	900	$1,250	$1.39	25d	1	0.84mi
407 Kenwood St Hammond, IN	2.0	1.0	920	$1,495	$1.62	25d	1	0.93mi
407 Kenwood St Hammond, IN	2.0	1.0	920	$1,495	$1.62	17d	1	0.93mi
3069 Bernice Rd Apt 2N Lansing, IL	3.0	1.0	950	$1,535	$1.62	21d	1	1.35mi
3069 Bernice Rd Apt 2S Lansing, IL	3.0	1.0	950	$1,535	$1.62	3d	1	1.35mi
3023 Bernice Rd Apt 2S Lansing, IL	3.0	1.0	1000	$1,600	$1.60	1d	1	1.37mi
3649 173rd Ct Lansing, IL	2.0	2.0	972	$1,357	$1.40	25d	1	1.37mi
323 Memorial Dr Unit 2 Calumet City, IL	2.0	1.0	1000	$1,600	$1.60	25d	1	1.45mi

Listing history 39 events

1. 2026-06-18
   days on market $22,000 Active 595 DOM
2. 2026-06-17
   days on market $22,000 Active 594 DOM
3. 2026-06-16
   days on market $22,000 Active 593 DOM
4. 2026-06-15
   days on market $22,000 Active 592 DOM
5. 2026-06-13
   days on market $22,000 Active 590 DOM
6. 2026-06-09
   days on market $22,000 Active 586 DOM
7. 2026-06-08
   days on market $22,000 Active 585 DOM
8. 2026-06-07
   days on market $22,000 Active 584 DOM
9. 2026-06-04
   pricedays on market $22,000 Active 581 DOM
10. 2026-06-03
    days on market $27,000 Active 580 DOM
11. 2026-06-02
    days on market $27,000 Active 579 DOM
12. 2026-06-01
    days on market $27,000 Active 578 DOM
13. 2026-05-31
    days on market $27,000 Active 577 DOM
14. 2026-05-20
    price $27,000
15. 2026-04-30
    price $30,000
16. 2026-04-09
    price $33,000
17. 2026-03-25
    price $38,000
18. 2026-02-26
    price $39,000
19. 2026-01-05
    price $40,000
20. 2025-08-20
    status Active
21. 2025-07-04
    historical Contingent - Continue to Show
22. 2025-06-18
    price $45,000
23. 2025-06-02
    price $46,000
24. 2025-05-07
    price $47,000
25. 2025-04-28
    price $49,000
26. 2025-02-10
    price $50,000
27. 2025-01-08
    price $63,000
28. 2024-12-18
    price $64,000
29. 2024-12-05
    price $65,000
30. 2024-10-31
    listed $80,000 Active
31. 2024-09-05
    historical
32. 2024-05-30
    price
33. 2024-02-07
    price
34. 2024-01-18
    price
35. 2024-01-08
    price
36. 2023-11-02
    price
37. 2023-09-29
    price
38. 2023-09-14
    listed Active
39. 2023-03-23
    soldstatus $59,000

ⓘ 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 ≥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: $31,800
• − Mortgage interest: −$1,232
• − Property taxes: −$330
• − Insurance: −$110
• − Repairs & maintenance: −$2,544
• − Management: −$2,544
• − Depreciation: −$640
• Taxable income: $24,400
• Est. tax owed @ 24.0%: −$5,856
• After-tax cash flow: $17,442/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

-54.2% since first listed

26 events — show timeline

• 2026-05-20 Price Changed $27,000 MRED as Distributed by MLS Grid
• 2026-04-30 Price Changed $30,000 MRED as Distributed by MLS Grid
• 2026-04-09 Price Changed $33,000 MRED as Distributed by MLS Grid
• 2026-03-25 Price Changed $38,000 MRED as Distributed by MLS Grid
• 2026-02-26 Price Changed $39,000 MRED as Distributed by MLS Grid
• 2026-01-05 Price Changed $40,000 MRED as Distributed by MLS Grid
• 2025-08-20 Relisted — MRED as Distributed by MLS Grid
• 2025-07-04 Contingent — MRED as Distributed by MLS Grid
• 2025-06-18 Price Changed $45,000 MRED as Distributed by MLS Grid
• 2025-06-02 Price Changed $46,000 MRED as Distributed by MLS Grid
• 2025-05-07 Price Changed $47,000 MRED as Distributed by MLS Grid
• 2025-04-28 Price Changed $49,000 MRED as Distributed by MLS Grid
• 2025-02-10 Price Changed $50,000 MRED as Distributed by MLS Grid
• 2025-01-08 Price Changed $63,000 MRED as Distributed by MLS Grid
• 2024-12-18 Price Changed $64,000 MRED as Distributed by MLS Grid
• 2024-12-05 Price Changed $65,000 MRED as Distributed by MLS Grid
• 2024-10-31 Listed $80,000 MRED as Distributed by MLS Grid
• 2024-09-05 Listing Removed — MRED as Distributed by MLS Grid
• 2024-05-30 Price Changed — MRED as Distributed by MLS Grid
• 2024-02-07 Price Changed — MRED as Distributed by MLS Grid
• 2024-01-18 Price Changed — MRED as Distributed by MLS Grid
• 2024-01-08 Price Changed — MRED as Distributed by MLS Grid
• 2023-11-02 Price Changed — MRED as Distributed by MLS Grid
• 2023-09-29 Price Changed — MRED as Distributed by MLS Grid
• 2023-09-14 Listed — MRED as Distributed by MLS Grid
• 2023-03-23 Sold (Public Records) $59,000 Public Records

Property tax history

+5.1%/yr

Latest (2023): $13,657 · +62.1% YoY. Source: county tax records.