12338 S Elizabeth St · Calumet Park, IL 60827

$124,900

2 bd · 1.5 ba · 960 sqft · SingleFamily public records · 129 Days on market

Built 1951 4,373 sqft lot $130/sqft · 26% below area Est $169k · 26% under

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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).

• ARV discount +15.0/15.0
• Cash flow +14.6/30.0
• 1% rule +7.1/10.0
• Rent growth +4.5/5.0
• DSCR +4.4/10.0
• Livability +3.6/5.0
• Condition / age +2.5/5.0
• Schools +1.6/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Gain instant sweat equity with this charming 2-bed, 1-bath home in the heart of Calumet Park! This home offers a bright, sun-filled living room, a formal dining room, stylish galley kitchen, spacious bedrooms, a full basement, and detached garage. Prime location close to shopping, restaurants, and entertainment. Sold strictly as-is. No survey will be provided. Buyer must take subject to any municipal/code compliance requirement. *This property is not for rent. Beware of rental scams.*

Key facts

• Formal dining room
• Full basement
• Prime location

Tags

• FORMAL DINING ROOM
• STYLISH GALLEY KITCHEN
• FULL BASEMENT
• DETACHED GARAGE
• PRIME LOCATION

🏷️ Possibly a rental listed for sale. The $124,900 price doesn't fit this home's estimated sale value (~$169,375) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath single-family listed at $125k.

Deal economics

• At list price, monthly cash flow is $29 ($347/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $125k).
• Recommended offer: $110k (12.0% below list) — sets the bar for market timing.

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; 15 comparable units currently listed for rent nearby; rentals leasing fast (median 3d 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 $1,515/mo this rent would consume 49% 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 $864 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 7.8% rent growth), your $35k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 129 days — a 12% lower offer ($110k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 4y ago; this cycle's ask has dropped $30k (19%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $74k; list at $125k implies a 69% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 4.4% of price; built in 1951 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $109,912 (12.0% below list)

Questions for the listing agent

1. It's been on market 129 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1951 — 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. 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 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: 1.21% ✓
• Cap rate: 6.57%
• Cash-on-cash: 0.99%
• DSCR: 1.04
• GRM: 6.9

CMA / ARV

• ARV (median comp): $169,375
• List price: $124,900
• Delta: -26.26%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
12219 S Throop St	0.18mi	3/1.0 (+1)	880 (-8%)	0mo	$120,000	$136	70
12356 S Carpenter St	0.25mi	3/1.0 (+1)	1,008 (+5%)	4mo	$158,894	$158	70
12613 S Bishop St	0.39mi	2/1.0	876 (-9%)	4mo	$154,500	$176	62
12636 S Loomis St	0.42mi	3/1.0 (+1)	900 (-6%)	8mo	$138,500	$154	56
12613 S Marshfield Ave	0.57mi	3/1.0 (+1)	1,008 (+5%)	3mo	$120,000	$119	56
12334 Sangamon St	0.38mi	2/1.0	1,087 (+13%)	4mo	$90,000	$83	55
12629 S Throop St	0.36mi	3/1.0 (+1)	861 (-10%)	8mo	$169,000	$196	53
12036 S Justine St	0.55mi	3/2.5 (+1)	1,025 (+7%)	2mo	$245,000	$239	52
12811 S Elizabeth St	0.57mi	3/1.0 (+1)	1,028 (+7%)	3mo	$117,900	$115	52
12154 S Justine St	0.45mi	3/1.5 (+1)	1,092 (+14%)	1mo	$160,053	$147	50
843 W Vermont Ave	0.73mi	2/1.0	864 (-10%)	3mo	$58,000	$67	44
12820 S Sangamon St	0.71mi	3/1.0 (+1)	1,077 (+12%)	4mo	$157,500	$146	36

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: -7.6%
• Equity multiple: 0.70×
• Total profit: $-10,484
• Equity at exit: $18,623

10-year hold

• IRR: 8.5%
• Equity multiple: 1.83×
• Total profit: $29,026
• Equity at exit: $10,799

Cash invested: $34,972 (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: 6.9×

Monthly cashflow live

• Estimated rent: $1,515 high
• Mortgage (P&I): −$655
• Tax from tax record: −$461 /mo · $5,531/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$318
• Net cashflow: $29

Break-even live

Break-even rent $1,478

Max offer price $124,900

Occupancy floor 93%

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: $31,225
• Closing costs: $3,747
• Reserves months: —
• Total cash needed: —

Rent comps 15 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
843 W 123rd St Unit V5 Calumet Park, IL	2.0	1.0	900	$1,500	$1.67	12d	1	0.51mi
843 W 123rd St Unit T2 Calumet Park, IL	2.0	1.0	750	$1,400	$1.87	12d	1	0.51mi
12358 S Lowe Ave Chicago, IL	3.0	2.0	1050	$2,400	$2.29	24d	1	0.76mi
13025 S Wood St Apt 2B Blue Island, IL	1.0	1.0	633	$1,195	$1.89	21d	1	1.05mi
11547 S Ashland Ave Chicago, IL	3.0	1.5	1000	$2,700	$2.70	2d	1	1.08mi
13034 Honore St Unit 1 Blue Island, IL	2.0	1.0	700	$1,350	$1.93	12d	1	1.12mi
13034 Honore St Unit 7 Blue Island, IL	1.0	1.0	650	$1,195	$1.84	3d	1	1.12mi
13034 Honore St Unit 3 Blue Island, IL	1.0	1.0	650	$1,195	$1.84	1d	1	1.12mi
2130 122nd St Blue Island, IL	2.0	1.0	558	$1,450	$2.60	1d	1	1.13mi
1908 Vermont St Unit 1914-4 Blue Island, IL	1.0	1.0	700	$1,350	$1.93	24d	1	1.18mi
1908 Vermont St Unit 1916-4 Blue Island, IL	2.0	1.0	800	$1,395	$1.74	1d	1	1.18mi
1908 Vermont St Unit 1908-1 Blue Island, IL	1.0	1.0	700	$1,250	$1.79	1d	1	1.18mi
1923 Vermont St Blue Island, IL	2.0	1.0	1087	$1,550	$1.43	24d	1	1.20mi
12151 S Western Ave Unit 4 Blue Island, IL	1.0	1.0	800	$1,350	$1.69	1d	1	1.42mi
12151 S Western Ave Unit 3 Blue Island, IL	1.0	1.0	800	$1,450	$1.81	1d	1	1.43mi

Listing history 20 events

1. 2026-06-18
   days on market $124,900 Active 129 DOM
2. 2026-06-17
   days on market $124,900 Active 128 DOM
3. 2026-06-16
   days on market $124,900 Active 127 DOM
4. 2026-06-15
   days on market $124,900 Active 126 DOM
5. 2026-06-13
   days on market $124,900 Active 124 DOM
6. 2026-06-09
   days on market $124,900 Active 120 DOM
7. 2026-06-08
   pricedays on market $124,900 Active 119 DOM
8. 2026-06-07
   days on market $134,900 Active 118 DOM
9. 2026-06-04
   days on market $134,900 Active 115 DOM
10. 2026-06-03
    days on market $134,900 Active 114 DOM
11. 2026-06-02
    days on market $134,900 Active 113 DOM
12. 2026-06-01
    days on market $134,900 Active 112 DOM
13. 2026-05-31
    days on market $134,900 Active 111 DOM
14. 2026-03-30
    price $139,900 497-char remark

    Show marketing remark (497 chars)

    Gain instant sweat equity with this charming 2-bed, 1-bath home in the heart of Calumet Park! This home offers a bright, sun-filled living room, a formal dining room, stylish galley kitchen, spacious bedrooms, a full basement, and detached garage. Prime location close to shopping, restaurants, and entertainment. Sold strictly as-is. No survey will be provided. Buyer must take subject to any municipal/code compliance requirement. *This property is not for rent. Beware of rental scams.*

15. 2026-02-26
    price $149,900 497-char remark

    Show marketing remark (497 chars)

    Gain instant sweat equity with this charming 2-bed, 1-bath home in the heart of Calumet Park! This home offers a bright, sun-filled living room, a formal dining room, stylish galley kitchen, spacious bedrooms, a full basement, and detached garage. Prime location close to shopping, restaurants, and entertainment. Sold strictly as-is. No survey will be provided. Buyer must take subject to any municipal/code compliance requirement. *This property is not for rent. Beware of rental scams.*

16. 2026-02-09
    listed $154,900 Active 497-char remark

    Show marketing remark (497 chars)

    Gain instant sweat equity with this charming 2-bed, 1-bath home in the heart of Calumet Park! This home offers a bright, sun-filled living room, a formal dining room, stylish galley kitchen, spacious bedrooms, a full basement, and detached garage. Prime location close to shopping, restaurants, and entertainment. Sold strictly as-is. No survey will be provided. Buyer must take subject to any municipal/code compliance requirement. *This property is not for rent. Beware of rental scams.*

17. 2022-12-28
    soldstatus $74,000
18. 2022-10-14
    historical
19. 2022-09-25
    price
20. 2022-09-09
    listed Active

ⓘ 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: $5,531 · $461/mo
• Projected year-2 tax: $5,531 · $461/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 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
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,179
• − Mortgage interest: −$6,996
• − Property taxes: −$5,531
• − Insurance: −$624
• − Repairs & maintenance: −$1,454
• − Management: −$1,454
• − Depreciation: −$3,633
• Taxable loss: −$1,514
• Est. tax savings @ 24.0%: +$363
• After-tax cash flow: $710/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: 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

+89.1% since first listed

7 events — show timeline

• 2026-03-30 Price Changed $139,900 MRED as Distributed by MLS Grid
• 2026-02-26 Price Changed $149,900 MRED as Distributed by MLS Grid
• 2026-02-09 Listed $154,900 MRED as Distributed by MLS Grid
• 2022-12-28 Sold (Public Records) $74,000 Public Records
• 2022-10-14 Listing Removed — MRED as Distributed by MLS Grid
• 2022-09-25 Price Changed — MRED as Distributed by MLS Grid
• 2022-09-09 Listed — MRED as Distributed by MLS Grid

Property tax history

+14.1%/yr

Latest (2023): $5,531 · +104.9% YoY. Source: county tax records.