719 Greenbay Ave · Calumet City, IL 60409

$39,000

1 bd · 1.0 ba · 648 sqft · SingleFamily public records · 38 Days on market

Built 1917

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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 +4.0/5.0
• Livability +3.6/5.0
• Condition / age +2.5/5.0
• Schools +1.0/10.0
• Appreciation +0.0/10.0

Listing remarks

Tons of Potential! This 1 bedroom, 1 bath home 648 sq ft of living space on a 1,840 sq ft lot. Perfect for Buyers looking to bring their vision to life. Property requires TLC but, with the right updates it could shine. Whether you are looking to renovate, rent or rebuild this property is a blank canvas. Property is sold As Is. Make your offer today! This is a Fannie Mae HomePath property.

Key facts

• Garage
• Built 1917
• Listed 37 days

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath single-family listed at $39k.

Deal economics

• At list price, monthly cash flow is $700 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $39k).
• Recommended offer: $38k (3.0% below list) — sets the bar for market timing.
• Cap rate 27.8% vs local median 8.3% 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); 196 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals leasing fast (median 12d on market — plan ~1-2 weeks tenant-placement turnaround); 6,272 units permitted in Cook County in 2024 (4,658 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $270 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 $11k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 38 days — a 3% lower offer ($38k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $6k (13%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: property tax is 3.4% of price; built in 1917 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $37,830 (3.0% below list)

Questions for the listing agent

1. It's been on market 38 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1917 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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: 3.34% ✓
• Cap rate: 27.83%
• Cash-on-cash: 76.91%
• DSCR: 4.42
• GRM: 2.5

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: 80.7%
• Equity multiple: 4.90×
• Total profit: $42,603
• Equity at exit: $5,815

10-year hold

• IRR: 85.0%
• Equity multiple: 11.39×
• Total profit: $113,513
• Equity at exit: $3,372

Cash invested: $10,920 (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: 196
• Price-to-rent: 2.5×

Monthly cashflow live

• Estimated rent: $1,303 high
• Mortgage (P&I): −$205
• Tax from tax record: −$109 /mo · $1,307/yr
• Insurance: −$16
• HOA: −$0
• Vacancy / Maint / Mgmt: −$274
• Net cashflow: $700

Break-even live

Break-even rent $417

Max offer price $39,000

Occupancy floor 41%

Sensitivity live

Price	-10% $722	-5% $711	+0% $700	+5% $689	+10% $678
Rent	-10% $597	-5% $648	+0% $700	+5% $751	+10% $803
Rate	-1.0pp $720	-0.5pp $710	base $700	+0.5pp $690	+1.0pp $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: $9,750
• Closing costs: $1,170
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
634 Sibley Blvd Calumet City, IL	1.0–2.0	1.0	710	$1,190	$1.68	5d	2	0.62mi
122 Sibley St Hammond, IN	1.0	1.0	550	$1,150	$2.09	0d	1	0.95mi
5231 Hohman Ave Hammond, IN	1.0	1.0	565	$1,937	$3.43	0d	16	0.99mi
5950 Hohman Ave Unit 416 Hammond, IN	1.0	1.0	550	$1,095	$1.99	7d	1	1.13mi
1030 N State St Chicago, IL	—	1.0	558	$2,350	$4.21	11d	1	1.15mi
5945 Hyslop Pl Unit 204 Hammond, IN	1.0	1.0	700	$1,195	$1.71	25d	1	1.21mi
237 Highland St Unit 401 Hammond, IN	1.0	1.0	500	$1,020	$2.04	25d	1	1.26mi
230 Wildwood Rd Unit 103 Hammond, IN	1.0	1.0	750	$1,295	$1.73	25d	1	1.44mi
14507 Torrence Ave Unit 3C Burnham, IL	1.0	1.0	675	$1,150	$1.70	11d	1	1.50mi

Listing history 23 events

1. 2026-06-21
   days on market $39,000 Active 38 DOM
2. 2026-06-18
   days on market $39,000 Active 35 DOM
3. 2026-06-17
   days on market $39,000 Active 34 DOM
4. 2026-06-16
   days on market $39,000 Active 33 DOM
5. 2026-06-15
   price $39,000 Active 32 DOM
6. 2026-06-15
   days on market $45,000 Active 32 DOM
7. 2026-06-13
   days on market $45,000 Active 30 DOM
8. 2026-06-09
   days on market $45,000 Active 26 DOM
9. 2026-06-08
   days on market $45,000 Active 25 DOM
10. 2026-06-07
    days on market $45,000 Active 24 DOM
11. 2026-06-04
    days on market $45,000 Active 21 DOM
12. 2026-06-03
    days on market $45,000 Active 20 DOM
13. 2026-06-02
    days on market $45,000 Active 19 DOM
14. 2026-06-01
    days on market $45,000 Active 18 DOM
15. 2026-05-31
    days on market $45,000 Active 17 DOM
16. 2026-05-14
    listed $45,000 Active
17. 2026-03-13
    historical
18. 2026-01-27
    price
19. 2025-12-30
    price
20. 2025-12-01
    price
21. 2025-09-24
    listed Active
22. 1988-06-07
    soldstatus $39,000
23. 1983-12-12
    soldstatus $31,500

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast IL · Partial reset (capped growth)

• Current annual tax: $1,307 · $109/mo
• Projected year-2 tax: $1,307 · $109/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 20% 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: $15,639
• − Mortgage interest: −$2,185
• − Property taxes: −$1,307
• − Insurance: −$195
• − Repairs & maintenance: −$1,251
• − Management: −$1,251
• − Depreciation: −$1,135
• Taxable income: $8,316
• Est. tax owed @ 24.0%: −$1,996
• After-tax cash flow: $6,403/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

+42.9% since first listed

8 events — show timeline

• 2026-05-14 Listed $45,000 MRED as Distributed by MLS Grid
• 2026-03-13 Listing Removed — MRED as Distributed by MLS Grid
• 2026-01-27 Price Changed — MRED as Distributed by MLS Grid
• 2025-12-30 Price Changed — MRED as Distributed by MLS Grid
• 2025-12-01 Price Changed — MRED as Distributed by MLS Grid
• 2025-09-24 Listed — MRED as Distributed by MLS Grid
• 1988-06-07 Sold (Public Records) $39,000 Public Records
• 1983-12-12 Sold (Public Records) $31,500 Public Records

Property tax history

+2.0%/yr

Latest (2023): $1,307 · +6.7% YoY. Source: county tax records.