283 Luella Ave · Calumet City, IL 60409

$187,000

3 bd · 1.0 ba · 1,333 sqft · SingleFamily public records · 8 Days on market

Built 1980 5,000 sqft lot Est $204k · 8% under

---

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 +22.5/30.0
• ARV discount +11.2/15.0
• DSCR +7.2/10.0
• 1% rule +5.9/10.0
• 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

THREE BEDROOM SPLIT LEVEL PROPERTY WITH ONE FULL BATH IN CALUMET CITY. SPLIT LEVEL LAYOUT PROVIDES A NUMBER OF LIVING OPTIONS. NICE KITCHEN. BRICK EXTERIOR. SIDE DRIVE TO AUTO-OPENING 2 CAR GARAGE. No seller disclosures. HUD HOME SOLD AS-IS. INFORMATION DEEMED RELIABLE BUT NOT GUARANTEED. SELLING BROKER TO VERIFY ALL INFORMATION. BIDS OVER AS-IS VALUE W/FHA REQUIRES CASH PAID AT CLOSING FOR OVERBID AMOUNT

Key facts

• 5,000 sq ft lot
• 2 garage spots
• Built 1980

Property features AI

Finance

• HOA & community: No master association fee required

Exterior

• Parking: Detached garage (owned); Concrete driveway or pad; Two garage spaces; two parking spaces total
• Utilities: Water source: Lake Michigan; Public sewer
• Home design: Detached single-family home; Split-level design; Fee simple ownership
• Construction: Brick construction; Concrete perimeter foundation; Built approximately 41–50 years ago; Not rebuilt or rehabilitated since original construction; Not built before 1978
• Exterior features: Lot dimensions approximately 125 x 40; Lot size less than 0.25 acre

Interior

• Kitchen: Kitchen on main level (approx. 15 x 10)
• Bedrooms: Three bedrooms total; Master bedroom on second level (approx. 15 x 13); Bedroom on second level (approx. 13 x 10); Bedroom on second level (approx. 11 x 10)
• Flooring: Carpet in master bedroom
• Bathrooms: Two full bathrooms; Basement has a bathroom
• Heating & cooling: Natural gas forced-air heating; Central air conditioning
• Interior features: Seven rooms total; Finished full basement; Basement fireplace
• Laundry & utility: Laundry room on lower level (approx. 13 x 11)

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $187k.

Deal economics

• At list price, monthly cash flow is $315 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $187k).

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); 196 active listings in the ZIP; 20 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).
• 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 $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 ~10 years — after that, you're playing with house money.

Negotiation context

• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.
• 8 sale attempts since 16y ago; this cycle's ask has dropped $47k (20%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $42k; list at $187k implies a 343% gain — meaningful room to come down on a strong offer.

Recommended offer $187,000

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. 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?
4. 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.
5. 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.
6. 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: 1.09% ✓
• Cap rate: 8.31%
• Cash-on-cash: 7.22%
• DSCR: 1.32
• GRM: 7.7

CMA / ARV

• ARV (on-the-fly): $203,949
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
286 Calhoun Ave	0.28mi	3/2.0	1,424 (+7%)	3mo	$203,000	$143	69
453 Hoxie Ave	0.54mi	3/1.5	1,304 (-2%)	0mo	$195,000	$150	69
288 Calhoun Ave	0.28mi	4/2.0 (+1)	1,260 (-6%)	2mo	$215,000	$171	67
412 Saginaw Ave	0.56mi	3/1.5	1,314 (-1%)	4mo	$171,000	$130	66
372 Bensley Ave	0.30mi	4/2.0 (+1)	1,250 (-6%)	2mo	$235,000	$188	65
289 Saginaw Ave	0.50mi	3/2.0	1,303 (-2%)	7mo	$200,000	$153	63
430 Marquette Ave	0.64mi	3/1.5	1,316 (-1%)	7mo	$220,000	$167	60
301 Cornell Ave	0.51mi	3/2.0	1,400 (+5%)	7mo	$210,000	$150	58
317 Madison Ave	0.38mi	3/1.0	1,152 (-14%)	3mo	$67,200	$58	57
494 Oglesby Ave	0.50mi	4/2.5 (+1)	1,252 (-6%)	2mo	$245,000	$196	54
591 Paxton Ave	0.75mi	4/2.0 (+1)	1,340 (+0%)	3mo	$261,000	$195	53
14737 Blackstone Ave	0.70mi	3/1.5	1,425 (+7%)	5mo	$150,000	$105	50

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: -1.7%
• Equity multiple: 0.93×
• Total profit: $-3,524
• Equity at exit: $27,882

10-year hold

• IRR: 11.1%
• Equity multiple: 2.00×
• Total profit: $52,200
• Equity at exit: $16,168

Cash invested: $52,360 (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: 7.7×

Monthly cashflow live

• Estimated rent: $2,034 high
• Mortgage (P&I): −$981
• Tax est. 1.5%: −$234 /mo · $2,805/yr
• Insurance: −$78
• HOA: −$0
• Vacancy / Maint / Mgmt: −$427
• Net cashflow: $315

Break-even live

Break-even rent $1,636

Max offer price $187,000

Occupancy floor 80%

Sensitivity live

Price	-10% $444	-5% $379	+0% $315	+5% $250	+10% $186
Rent	-10% $154	-5% $234	+0% $315	+5% $395	+10% $476
Rate	-1.0pp $409	-0.5pp $362	base $315	+0.5pp $266	+1.0pp $217

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: $46,750
• Closing costs: $5,610
• Reserves months: —
• Total cash needed: —

Rent comps 20 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
250 Yates Ave Unit 1616 Dolton 1E Calumet City, IL	2.0	1.0	875	$1,465	$1.67	9d	1	0.17mi
1860 State St Calumet City, IL	3.0	1.0	1100	$1,800	$1.64	18d	1	0.20mi
101 Oglesby Ave Calumet City, IL	2.0	1.0	1000	$1,800	$1.80	23d	1	0.23mi
101 Oglesby Ave Calumet City, IL	2.0	1.0	1000	$1,800	$1.80	21d	1	0.23mi
101 Oglesby Ave Calumet City, IL	2.0	1.0	1100	$1,800	$1.64	13d	1	0.23mi
405 Clyde Ave Calumet City, IL	3.0	1.0	973	$2,300	$2.36	0d	1	0.33mi
14518 S Hoxie Ave Chicago, IL	3.0	1.5	1128	$2,450	$2.17	0d	1	0.36mi
409 Madison Ave Unit 2 Calumet City, IL	3.0	1.5	1200	$1,795	$1.50	5d	1	0.48mi
2605 E Martha Pl Chicago, IL	2.0	2.0	1353	$1,860	$1.37	23d	1	0.68mi
14610 Blackstone Ave Dolton, IL	3.0	1.0	1017	$2,400	$2.36	7d	1	0.73mi
14738 Blackstone Ave Dolton, IL	3.0	1.0	1017	$2,400	$2.36	11d	1	0.75mi
1429 Kasten Dr Dolton, IL	3.0	1.0	1600	$2,500	$1.56	0d	1	0.77mi
14716 Dorchester Ave Dolton, IL	3.0	2.0	1250	$2,800	$2.24	20d	1	0.86mi
659 Paxton Ave Calumet City, IL	3.0	2.0	1255	$2,461	$1.96	11d	1	0.87mi
660 Clyde Ave Calumet City, IL	3.0	1.5	1400	$1,750	$1.25	4d	1	0.89mi
2790 E State St Apt 2E Burnham, IL	3.0	2.0	1100	$1,695	$1.54	25d	1	0.91mi
15400 Merrill Ave South Holland, IL	4.0	2.0	1508	$3,330	$2.21	23d	1	0.99mi
671 Saginaw Ave Calumet City, IL	3.0	2.0	1250	$2,276	$1.82	11d	1	1.01mi
14433 Woodlawn Ave Dolton, IL	4.0	2.0	1300	$2,000	$1.54	20d	1	1.10mi
15231 Hastings Dr Dolton, IL	4.0	1.5	1487	$2,146	$1.44	9d	1	1.29mi

Listing history 44 events

1. 2026-06-21
   pricedays on market $187,000 Active 8 DOM
2. 2026-06-18
   days on market $189,000 Active 5 DOM
3. 2026-06-17
   days on market $189,000 Active 4 DOM
4. 2026-06-16
   days on market $189,000 Active 3 DOM
5. 2026-06-15
   days on market $189,000 Active 2 DOM
6. 2026-06-13
   days on marketlisting id $189,000 Active 1 DOM
7. 2026-06-13
   days on market $189,000 Active 225 DOM
8. 2026-06-09
   days on market $189,000 Active 222 DOM
9. 2026-06-08
   days on market $189,000 Active 221 DOM
10. 2026-06-07
    days on market $189,000 Active 220 DOM
11. 2026-06-04
    days on market $189,000 Active 217 DOM
12. 2026-06-03
    days on market $189,000 Active 216 DOM
13. 2026-06-02
    days on market $189,000 Active 215 DOM
14. 2026-06-01
    days on market $189,000 Active 214 DOM
15. 2026-05-31
    days on market $189,000 Active 213 DOM
16. 2026-05-22
    price $189,000
17. 2026-03-27
    price $195,000
18. 2026-02-27
    price $199,000
19. 2026-02-07
    price $205,000
20. 2026-01-16
    price $211,000
21. 2025-12-19
    price $218,000
22. 2025-11-21
    price $225,000
23. 2025-10-30
    listed $234,000 Active
24. 2024-06-29
    historical $2,060
25. 2024-06-28
    historical $2,060
26. 2024-06-27
    listed $2,060
27. 2024-06-27
    listed $2,060
28. 2024-06-22
    historical $2,060
29. 2024-06-21
    listed $2,060
30. 2024-06-10
    historical $2,060
31. 2024-06-09
    historical $2,060
32. 2024-06-08
    price $2,060
33. 2024-06-08
    price $2,060
34. 2024-06-07
    listed $2,175
35. 2024-06-07
    listed $2,175
36. 2022-12-19
    historical
37. 2013-10-18
    soldstatus $42,247 Closed Sale 411-char remark

    Show marketing remark (411 chars)

    THREE BEDROOM SPLIT LEVEL PROPERTY WITH ONE FULL BATH IN CALUMET CITY. SPLIT LEVEL LAYOUT PROVIDES A NUMBER OF LIVING OPTIONS. NICE KITCHEN. BRICK EXTERIOR. SIDE DRIVE TO AUTO-OPENING 2 CAR GARAGE. No seller disclosures. HUD HOME SOLD AS-IS. INFORMATION DEEMED RELIABLE BUT NOT GUARANTEED. SELLING BROKER TO VERIFY ALL INFORMATION. BIDS OVER AS-IS VALUE W/FHA REQUIRES CASH PAID AT CLOSING FOR OVERBID AMOUNT

38. 2013-08-26
    status Pending 411-char remark

    Show marketing remark (411 chars)

    THREE BEDROOM SPLIT LEVEL PROPERTY WITH ONE FULL BATH IN CALUMET CITY. SPLIT LEVEL LAYOUT PROVIDES A NUMBER OF LIVING OPTIONS. NICE KITCHEN. BRICK EXTERIOR. SIDE DRIVE TO AUTO-OPENING 2 CAR GARAGE. No seller disclosures. HUD HOME SOLD AS-IS. INFORMATION DEEMED RELIABLE BUT NOT GUARANTEED. SELLING BROKER TO VERIFY ALL INFORMATION. BIDS OVER AS-IS VALUE W/FHA REQUIRES CASH PAID AT CLOSING FOR OVERBID AMOUNT

39. 2013-07-25
    listed $44,900 New 411-char remark

    Show marketing remark (411 chars)

    THREE BEDROOM SPLIT LEVEL PROPERTY WITH ONE FULL BATH IN CALUMET CITY. SPLIT LEVEL LAYOUT PROVIDES A NUMBER OF LIVING OPTIONS. NICE KITCHEN. BRICK EXTERIOR. SIDE DRIVE TO AUTO-OPENING 2 CAR GARAGE. No seller disclosures. HUD HOME SOLD AS-IS. INFORMATION DEEMED RELIABLE BUT NOT GUARANTEED. SELLING BROKER TO VERIFY ALL INFORMATION. BIDS OVER AS-IS VALUE W/FHA REQUIRES CASH PAID AT CLOSING FOR OVERBID AMOUNT

40. 2010-11-10
    historical
41. 2010-05-14
    listed New
42. 2005-02-22
    soldstatus $131,000
43. 1998-07-02
    soldstatus $108,000
44. 1984-08-24
    soldstatus $64,500

ⓘ 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 ≥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: $24,413
• − Mortgage interest: −$10,475
• − Property taxes: −$2,805
• − Insurance: −$935
• − Repairs & maintenance: −$1,953
• − Management: −$1,953
• − Depreciation: −$5,440
• Taxable income: $852
• Est. tax owed @ 24.0%: −$204
• After-tax cash flow: $3,574/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

+193.0% since first listed

29 events — show timeline

• 2026-05-22 Price Changed $189,000 MRED as Distributed by MLS Grid
• 2026-03-27 Price Changed $195,000 MRED as Distributed by MLS Grid
• 2026-02-27 Price Changed $199,000 MRED as Distributed by MLS Grid
• 2026-02-07 Price Changed $205,000 MRED as Distributed by MLS Grid
• 2026-01-16 Price Changed $211,000 MRED as Distributed by MLS Grid
• 2025-12-19 Price Changed $218,000 MRED as Distributed by MLS Grid
• 2025-11-21 Price Changed $225,000 MRED as Distributed by MLS Grid
• 2025-10-30 Listed $234,000 MRED as Distributed by MLS Grid
• 2024-06-29 Rental Removed $2,060 RENTLY
• 2024-06-28 Rental Removed $2,060 RENT.
• 2024-06-27 Listed for Rent $2,060 RENT.
• 2024-06-27 Listed for Rent $2,060 RENTLY
• 2024-06-22 Rental Removed $2,060 RENTLY
• 2024-06-21 Listed for Rent $2,060 RENTLY
• 2024-06-10 Rental Removed $2,060 RENTLY
• 2024-06-09 Rental Removed $2,060 RENT.
• 2024-06-08 Price Changed $2,060 RENT.
• 2024-06-08 Price Changed $2,060 RENTLY
• 2024-06-07 Listed for Rent $2,175 RENTLY
• 2024-06-07 Listed for Rent $2,175 RENT.
• 2022-12-19 Rental Removed — RENTLY
• 2013-10-18 Sold (MLS) $42,247 MRED as Distributed by MLS Grid
• 2013-08-26 Pending — MRED as Distributed by MLS Grid
• 2013-07-25 Listed $44,900 MRED as Distributed by MLS Grid
• 2010-11-10 Listing Removed — MRED as Distributed by MLS Grid
• 2010-05-14 Listed — MRED as Distributed by MLS Grid
• 2005-02-22 Sold (Public Records) $131,000 Public Records
• 1998-07-02 Sold (Public Records) $108,000 Public Records
• 1984-08-24 Sold (Public Records) $64,500 Public Records

Property tax history

+5.1%/yr

Latest (2023): $9,991 · +3.6% YoY. Source: county tax records.