12607 S Lincoln St · Calumet Park, IL 60827

$179,000

5 bd · 2.0 ba · — sqft · MultiFamily · 117 Days on market

Built 1924 Fair condition

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Rent growth +4.5/5.0
• Livability +3.6/5.0
• Condition / age +2.2/5.0
• Schools +1.6/10.0
• 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 MLS

Handy Man Special! This two flat is habitable but is a bit dated and could use a some polishing! Bring your ideas to modernize this space to have the bulk of your mortgage covered by your tenant. This is also a great opportunity for an investor seeking a value add opportunity. This property was inherited and is currently occupied by family but may be delivered vacant since there are no leases in place. Each unit has it's own electric and gas meters but seems to have both a furnace and boiler on site so buyers should do their due diligence as the seller doesn't make any representations around whether the heating usage is split by unit.

Key facts

• Built 1924
• Listed 116 days

🏷️ Possibly a rental listed for sale. The $179,000 price doesn't fit this home's estimated sale value (~$470,000) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 5-bed/2.0-bath multifamily listed at $179k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $880 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $179k).
• Recommended offer: $163k (9.0% below list) — sets the bar for market timing.
• Cap rate 12.2% vs local median 6.7% in Calumet Park — 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 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-, schools F, 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.
• Market conditions: Rents rising fast (+7.8%/yr); 76 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals leasing fast (median 12d on market — plan ~1-2 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).
• At $2,680/mo this rent would consume 86% 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.

Forward outlook

• 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.
• At projected returns (-3.0% appreciation + 7.8% rent growth), your $50k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 117 days — a 9% lower offer ($163k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 14y 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 1924 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $162,890 (9.0% below list)

Questions for the listing agent

1. It's been on market 117 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Built in 1924 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
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: 1.50% ✓
• Cap rate: 12.19%
• Cash-on-cash: 21.07%
• DSCR: 1.94
• GRM: 5.6

CMA / ARV

• ARV (median comp): $470,000
• List price: $179,000
• Delta: -61.91%
• Verdict: UNDERPRICED
• Comps: 3 within 1.0 mi

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
12432 S Ashland Ave	0.40mi	5/3.0	—	4mo	$225,000	—	62
12842 Winchester Ave	0.33mi	6/2.0 (+1)	—	8mo	$319,000	—	60
1915 Vermont St	0.57mi	5/2.0	—	2mo	$239,000	—	59
1833 High St	0.43mi	4/2.0 (-1)	—	12mo	$262,000	—	52
1917 York St	0.49mi	6/4.5 (+1)	—	3mo	$310,000	—	47
2442 Birdsall St	0.73mi	4/2.0 (-1)	—	9mo	$285,000	—	41
2025 High St	0.47mi	6/3.0 (+1)	—	22mo	$250,000	—	39
2425 Lewis St	0.70mi	5/2.0	—	24mo	$230,000	—	35
2342 Walnut St	0.65mi	4/3.0 (-1)	—	22mo	$233,000	—	30
13029 Chicago St	0.63mi	6/4.0 (+1)	—	20mo	$319,499	—	28

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 · 7.82% rent growth · sell at horizon

5-year hold

• IRR: 18.9%
• Equity multiple: 1.81×
• Total profit: $40,722
• Equity at exit: $26,689

10-year hold

• IRR: 30.4%
• Equity multiple: 4.38×
• Total profit: $169,605
• Equity at exit: $15,477

Cash invested: $50,120 (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 60827

• Home prices YoY: -31.8%
• Rents YoY: 7.8%
• Active inventory: 76
• Price-to-rent: 11.1×

Monthly cashflow live

• Estimated rent: $2,680 high
• Mortgage (P&I): −$939
• Tax est. 1.5%: −$224 /mo · $2,685/yr
• Insurance: −$75
• HOA: −$0
• Vacancy / Maint / Mgmt: −$563
• Net cashflow: $880

Break-even live

Break-even rent $1,566

Max offer price $179,000

Occupancy floor 62%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,680
Total (2 units)			$2,680

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: $44,750
• Closing costs: $5,370
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
12827 S Morgan St Unit 1546010P Chicago, IL	4.0	2.0	1022	$4,677	$4.58	12d	1	1.18mi
12831 S Morgan St Unit 1306893P Chicago, IL	4.0	2.0	—	$5,808	—	19d	1	1.18mi
11549 S Church St Chicago, IL	4.0	4.5	1800	$3,200	$1.78	1d	1	1.33mi
12253 S Peoria St Chicago, IL	4.0	3.0	684	$3,000	$4.39	1d	1	1.33mi
2261 136th St Blue Island, IL	4.0	2.0	2230	$2,500	$1.12	16d	1	1.42mi

Listing history 26 events

1. 2026-06-18
   days on market $179,000 Active 117 DOM
2. 2026-06-17
   days on market $179,000 Active 116 DOM
3. 2026-06-16
   days on market $179,000 Active 115 DOM
4. 2026-06-15
   days on market $179,000 Active 114 DOM
5. 2026-06-13
   days on market $179,000 Active 112 DOM
6. 2026-06-09
   days on market $179,000 Active 108 DOM
7. 2026-06-08
   days on market $179,000 Active 107 DOM
8. 2026-06-07
   days on market $179,000 Active 106 DOM
9. 2026-06-04
   days on market $179,000 Active 103 DOM
10. 2026-06-03
    days on market $179,000 Active 102 DOM
11. 2026-06-02
    days on market $179,000 Active 101 DOM
12. 2026-06-01
    days on market $179,000 Active 100 DOM
13. 2026-05-31
    days on market $179,000 Active 99 DOM
14. 2026-02-21
    listed $179,000 Active 645-char remark

    Show marketing remark (645 chars)

    Handy Man Special! This two flat is habitable but is a bit dated and could use a some polishing! Bring your ideas to modernize this space to have the bulk of your mortgage covered by your tenant. This is also a great opportunity for an investor seeking a value add opportunity. This property was inherited and is currently occupied by family but may be delivered vacant since there are no leases in place. Each unit has it's own electric and gas meters but seems to have both a furnace and boiler on site so buyers should do their due diligence as the seller doesn't make any representations around whether the heating usage is split by unit.

15. 2017-01-02
    historical
16. 2016-12-09
    listed New
17. 2016-01-20
    historical
18. 2015-09-06
    price
19. 2015-07-20
    listed New
20. 2015-06-15
    historical
21. 2015-05-14
    price
22. 2015-03-02
    listed New
23. 2013-04-15
    historical
24. 2012-09-19
    listed New
25. 2012-09-06
    historical
26. 2012-02-20
    listed 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 5/10 Major FEMA zone X (unshaded) · 67% 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
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $32,160
• − Mortgage interest: −$10,027
• − Property taxes: −$2,685
• − Insurance: −$895
• − Repairs & maintenance: −$2,573
• − Management: −$2,573
• − Depreciation: −$5,207
• Taxable income: $8,200
• Est. tax owed @ 24.0%: −$1,968
• After-tax cash flow: $8,594/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.

Condition & rehab AI · 11 photos

Fair 45/100 Moderate rehab

This two-flat property is in fair condition with moderate rehabilitation needed. The home is habitable but requires significant updates to its exterior, interior, and systems to improve its value and appeal to potential buyers or renters.

Repairs flagged

• Major Exterior siding — Significant wear and tear
• Major Exterior pipes — Exposed and in poor condition
• Major Interior walls — Peeling paint and exposed insulation
• Minor Bathroom fixtures — Old and dated
• Minor Kitchen cabinets — Old and dated
• Major HVAC system — Exposed pipes and general wear

Value-add opportunities

• Both Paint interior walls — Fresh paint can improve the overall appearance and value
• Both Replace exterior siding — New siding can significantly improve curb appeal and value
• Both Replace exterior pipes — New pipes can improve the home's functionality and value
• Both Replace bathroom fixtures — Modern fixtures can improve the home's functionality and value
• Both Replace kitchen cabinets — Modern cabinets can improve the home's functionality and value
• Both Service HVAC system — A functioning HVAC system is essential for comfort and can improve the home's value

Renovation cost estimate screening

Repair item	Severity	Est. cost
Exterior siding · Significant wear and tear	Major	$15,000–50,000
Exterior pipes · Exposed and in poor condition	Major	$15,000–50,000
Interior walls · Peeling paint and exposed insulation	Major	$15,000–50,000
Bathroom fixtures · Old and dated	Minor	$500–3,000
Kitchen cabinets · Old and dated	Minor	$500–3,000
HVAC system · Exposed pipes and general wear	Major	$15,000–50,000
Total estimated repair cost · 6 items		$61,000–206,000

Value-add ROI direction

• Both Paint interior walls — Fresh paint can improve the overall appearance and value ↑
• Both Replace exterior siding — New siding can significantly improve curb appeal and value ↑
• Both Replace exterior pipes — New pipes can improve the home's functionality and value ↑
• Both Replace bathroom fixtures — Modern fixtures can improve the home's functionality and value ↑
• Both Replace kitchen cabinets — Modern cabinets can improve the home's functionality and value ↑
• Both Service HVAC system — A functioning HVAC system is essential for comfort and can improve the home's value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Chsd 218
• NCES district ID: 1706540
• Math proficiency: 14% ▼ -4.00%
• Reading proficiency: 20% ▼ -1.00%
• Median HH income: $57,166
• Composite: 16.09/100
• National rank: #9235
• State rank: #454 of 620 in IL

Livability — Calumet Park

• Score: 72/100
• State rank: #308
• US rank: #6048

Category grades

Amenities C+ Commute A+ Cost of living A+ Crime F Employment C- Housing A+ Health & safety C+ User ratings A

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Calumet Park, IL
• County: Cook County · 4,486,803 people
• Metro: Chicago-Naperville-Elgin, IL-IN-WI
• Population (ZIP): 24,713
• Household income: $37,217
• Rent vs Own: 59.8% rent · 40.2% own
• Severe rent burden: 1868.0

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 (88%)
• Race & ethnicity: Black 88% Two or more races 5% Hispanic / Latino 5% White 2%
• Common ancestry: Iranian 1%
• Foreign-born: 2% · Canada
• Languages at home: 96% English-only · Spanish 3%

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: ▼ -76.39%
• Current HPI: 163.7725
• Rent YoY: ▲ 7.82%
• 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

13 events — show timeline

• 2026-02-21 Listed $179,000 MRED as Distributed by MLS Grid
• 2017-01-02 Listing Removed — MRED as Distributed by MLS Grid
• 2016-12-09 Listed — MRED as Distributed by MLS Grid
• 2016-01-20 Listing Removed — MRED as Distributed by MLS Grid
• 2015-09-06 Price Changed — MRED as Distributed by MLS Grid
• 2015-07-20 Listed — MRED as Distributed by MLS Grid
• 2015-06-15 Listing Removed — MRED as Distributed by MLS Grid
• 2015-05-14 Price Changed — MRED as Distributed by MLS Grid
• 2015-03-02 Listed — MRED as Distributed by MLS Grid
• 2013-04-15 Listing Removed — MRED as Distributed by MLS Grid
• 2012-09-19 Listed — MRED as Distributed by MLS Grid
• 2012-09-06 Listing Removed — MRED as Distributed by MLS Grid
• 2012-02-20 Listed — MRED as Distributed by MLS Grid