306 Elizabeth St · Calumet City, IL 60409

$47,900

4 bd · 1.0 ba · 1,206 sqft · SingleFamily public records · 23 Days on market

Built 1925 4,660 sqft lot ↓ 9% 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

Listing remarks

Charming Character Meets Endless Potential! Nestled on a quiet, tree-lined street just steps from the serene Wentworth Woods Forest Preserve, this charming property is bursting with possibilities. Featuring classic hardwood floors, a cozy fireplace perfect for chilly evenings, and an inviting porch, this home offers a solid foundation for your creative vision. The exterior boasts a fully fenced yard and a massive, all-brick detached garage providing ample storage or workshop space. Whether you are an investor looking for your next portfolio addition or a buyer eager to build sweat equity, this property represents an incredible opportunity to restore and revitalize. Please note: For safety

Key facts

• Cozy fireplace
• Fully fenced yard
• Hardwood floors

Tags

• HARDWOOD FLOORS
• COZY FIREPLACE
• INVITING PORCH
• FULLY FENCED YARD
• ALL-BRICK DETACHED GARAGE

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $48k.

Deal economics

• At list price, monthly cash flow is $1k ($15k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $48k).
• Recommended offer: $47k (1.5% below list) — sets the bar for market timing.
• Cap rate 37.8% 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; 5 comparable units currently listed for rent nearby; rentals leasing fast (median 13d 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 44% 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 $331 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 6.2% rent growth), your $13k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 23 days — a 2% lower offer ($47k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 6y 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 1925 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $47,181 (1.5% below list)

Questions for the listing agent

1. Built in 1925 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 4.20% ✓
• Cap rate: 37.82%
• Cash-on-cash: 112.58%
• DSCR: 6.01
• GRM: 2.0

CMA / ARV

• ARV (on-the-fly): $195,372
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
423 157th St	0.38mi	4/1.5	1,212 (+0%)	1mo	$25,000	$21	78
211 Waltham St	0.11mi	3/2.0 (-1)	1,101 (-9%)	1mo	$150,000	$136	71
301 Warren St	0.21mi	3/2.0 (-1)	1,270 (+5%)	2mo	$211,000	$166	70
212 Ruth St	0.16mi	3/2.0 (-1)	1,305 (+8%)	1mo	$216,000	$166	69
7 Highland St	0.35mi	3/2.0 (-1)	1,163 (-4%)	3mo	$172,500	$148	66
243 Waltham St	0.05mi	3/1.0 (-1)	1,032 (-14%)	3mo	$200,000	$194	66
1295 Hirsch Ave	0.60mi	4/2.0	1,166 (-3%)	3mo	$265,000	$227	60
518 156th Pl	0.51mi	3/2.0 (-1)	1,165 (-3%)	3mo	$167,000	$143	59
866 Greenbay Ave	0.52mi	3/2.0 (-1)	1,163 (-4%)	3mo	$200,000	$172	58
1272 Burnham Ave	0.61mi	3/1.5 (-1)	1,147 (-5%)	3mo	$186,000	$162	54
1263 Mackinaw Ave	0.66mi	3/1.5 (-1)	1,102 (-9%)	1mo	$175,900	$160	47
228 154th Pl	0.66mi	3/2.0 (-1)	1,120 (-7%)	3mo	$39,900	$36	45

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: —
• Equity multiple: 6.89×
• Total profit: $79,028
• Equity at exit: $7,142

10-year hold

• IRR: —
• Equity multiple: 16.00×
• Total profit: $201,127
• Equity at exit: $4,142

Cash invested: $13,412 (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: 2.0×

Monthly cashflow live

• Estimated rent: $2,012 high
• Mortgage (P&I): −$251
• Tax est. 1.5%: −$60 /mo · $718/yr
• Insurance: −$20
• HOA: −$0
• Vacancy / Maint / Mgmt: −$422
• Net cashflow: $1,258

Break-even live

Break-even rent $419

Max offer price $47,900

Occupancy floor 32%

Sensitivity live

Price	-10% $1,291	-5% $1,275	+0% $1,258	+5% $1,242	+10% $1,225
Rent	-10% $1,099	-5% $1,179	+0% $1,258	+5% $1,338	+10% $1,417
Rate	-1.0pp $1,282	-0.5pp $1,270	base $1,258	+0.5pp $1,246	+1.0pp $1,233

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: $11,975
• Closing costs: $1,437
• Reserves months: —
• Total cash needed: —

Rent comps 5 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	2d	1	0.32mi
3 Waltham St Hammond, IN	3.0	1.0	1200	$1,095	$0.91	25d	1	0.42mi
115 157th St Unit 3 Calumet City, IL	3.0	1.0	800	$1,350	$1.69	25d	1	0.43mi
1539 Wentworth Ave Unit 3W Calumet City, IL	3.0	1.0	1100	$1,700	$1.55	13d	1	1.13mi
671 Saginaw Ave Calumet City, IL	3.0	2.0	1250	$2,276	$1.82	11d	1	1.49mi

Listing history 22 events

1. 2026-06-18
   days on market $47,900 Active 23 DOM
2. 2026-06-17
   days on market $47,900 Active 22 DOM
3. 2026-06-16
   days on market $47,900 Active 21 DOM
4. 2026-06-15
   days on market $47,900 Active 20 DOM
5. 2026-06-13
   days on market $47,900 Active 18 DOM
6. 2026-06-09
   days on market $47,900 Active 14 DOM
7. 2026-06-08
   days on market $47,900 Active 13 DOM
8. 2026-06-07
   days on market $47,900 Active 12 DOM
9. 2026-06-04
   days on market $47,900 Active 9 DOM
10. 2026-06-03
    days on market $47,900 Active 8 DOM
11. 2026-06-02
    days on market $47,900 Active 7 DOM
12. 2026-06-01
    days on market $47,900 Active 6 DOM
13. 2026-05-31
    days on market $47,900 Active 5 DOM
14. 2026-05-26
    listed $47,900 Active
15. 2026-04-30
    historical
16. 2025-11-03
    listed Active
17. 2020-02-29
    historical
18. 2020-02-17
    price
19. 2020-01-31
    listed New
20. 1997-10-31
    soldstatus $76,500
21. 1992-08-26
    soldstatus $64,000
22. 1984-03-01
    soldstatus $52,500

ⓘ 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: $24,141
• − Mortgage interest: −$2,683
• − Property taxes: −$718
• − Insurance: −$240
• − Repairs & maintenance: −$1,931
• − Management: −$1,931
• − Depreciation: −$1,393
• Taxable income: $15,244
• Est. tax owed @ 24.0%: −$3,659
• After-tax cash flow: $11,441/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

-8.8% since first listed

9 events — show timeline

• 2026-05-26 Listed $47,900 MRED as Distributed by MLS Grid
• 2026-04-30 Listing Removed — MRED as Distributed by MLS Grid
• 2025-11-03 Listed — MRED as Distributed by MLS Grid
• 2020-02-29 Listing Removed — MRED as Distributed by MLS Grid
• 2020-02-17 Price Changed — MRED as Distributed by MLS Grid
• 2020-01-31 Listed — MRED as Distributed by MLS Grid
• 1997-10-31 Sold (Public Records) $76,500 Public Records
• 1992-08-26 Sold (Public Records) $64,000 Public Records
• 1984-03-01 Sold (Public Records) $52,500 Public Records

Property tax history

+4.3%/yr

Latest (2023): $7,190 · +33.4% YoY. Source: county tax records.