532 Warren St · Calumet City, IL 60409

$114,000

3 bd · 1.0 ba · 1,208 sqft · SingleFamily public records · 57 Days on market

Built 1945 4,678 sqft lot Est $193k · 41% under ↓ 9% since listing

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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 +29.1/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• 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 MLS

There are no remarks available.

Key facts

• 4,678 sq ft lot
• 2 garage spots
• Built 1945

Property features AI

Finance

• Other: Living area is an estimate; Property age approximately 81–90 years
• HOA & community: No master association required

Exterior

• Parking: Detached owned garage; 2 garage spaces (2 total parking spaces)
• Utilities: Public water; Public sewer
• Home design: Detached single-family home; 1.5-story design; Fee simple ownership; Built before 1978
• Construction: Brick construction
• Exterior features: Lot dimensions roughly 45 x 125

Interior

• Kitchen: Kitchen (20 x 9)
• Bedrooms: 3 bedrooms total; Main-level bedrooms: two (10 x 9 and 11 x 10); Second-level master bedroom (25 x 14)
• Bathrooms: 1 full bathroom
• Heating & cooling: Natural gas forced air heating; Central air conditioning
• Interior features: 6 total rooms; Unfinished full basement; Dining room; Family room
• Laundry & utility: Laundry room

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $114k.

Deal economics

• At list price, monthly cash flow is $395 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $114k).
• Recommended offer: $111k (3.0% below list) — sets the bar for market timing.
• Cap rate 10.5% vs local median 8.2% in Calumet City — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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; 15 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); 6,272 units permitted in Cook County in 2024 (4,658 in 5+ unit buildings).
• This rent runs 37% 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 $788 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 6.2% rent growth), your $32k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 57 days — a 3% lower offer ($111k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 19y 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: property tax is 3.2% of price; built in 1945 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $110,580 (3.0% below list)

Questions for the listing agent

1. It's been on market 57 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 1945 — 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: 1.50% ✓
• Cap rate: 10.45%
• Cash-on-cash: 14.85%
• DSCR: 1.66
• GRM: 5.6

CMA / ARV

• ARV (on-the-fly): $193,280
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
423 157th St	0.17mi	4/1.5 (+1)	1,212 (+0%)	1mo	$25,000	$21	83
866 Greenbay Ave	0.12mi	3/2.0	1,163 (-4%)	3mo	$200,000	$172	81
518 156th Pl	0.18mi	3/2.0	1,165 (-4%)	3mo	$167,000	$143	79
503 Webb St	0.07mi	2/1.0 (-1)	1,093 (-10%)	1mo	$20,000	$18	75
301 Warren St	0.33mi	3/2.0	1,270 (+5%)	2mo	$211,000	$166	70
303 W 153rd Pl	0.61mi	3/1.0	1,188 (-2%)	1mo	$65,000	$55	68
212 Ruth St	0.44mi	3/2.0	1,305 (+8%)	1mo	$216,000	$166	61
211 Waltham St	0.48mi	3/2.0	1,101 (-9%)	1mo	$150,000	$136	58
243 Waltham St	0.42mi	3/1.0	1,032 (-15%)	3mo	$200,000	$194	53
1272 Burnham Ave	0.73mi	3/1.5	1,147 (-5%)	3mo	$186,000	$162	53
7 Highland St	0.74mi	3/2.0	1,163 (-4%)	3mo	$172,500	$148	53
1263 Mackinaw Ave	0.72mi	3/1.5	1,102 (-9%)	1mo	$175,900	$160	49

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: 9.5%
• Equity multiple: 1.39×
• Total profit: $12,433
• Equity at exit: $16,998

10-year hold

• IRR: 21.5%
• Equity multiple: 3.14×
• Total profit: $68,347
• Equity at exit: $9,857

Cash invested: $31,920 (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: 198
• Price-to-rent: 5.6×

Monthly cashflow live

• Estimated rent: $1,707 high
• Mortgage (P&I): −$598
• Tax from tax record: −$308 /mo · $3,697/yr
• Insurance: −$48
• HOA: −$0
• Vacancy / Maint / Mgmt: −$358
• Net cashflow: $395

Break-even live

Break-even rent $1,207

Max offer price $114,000

Occupancy floor 72%

Sensitivity live

Price	-10% $460	-5% $427	+0% $395	+5% $363	+10% $331
Rent	-10% $260	-5% $328	+0% $395	+5% $462	+10% $530
Rate	-1.0pp $452	-0.5pp $424	base $395	+0.5pp $366	+1.0pp $335

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: $28,500
• Closing costs: $3,420
• Reserves months: —
• Total cash needed: —

Rent comps 15 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
115 157th St Unit 3 Calumet City, IL	3.0	1.0	800	$1,350	$1.69	25d	1	0.57mi
34 Elizabeth St Calumet City, IL	3.0	1.0	1246	$2,400	$1.93	2d	1	0.68mi
3 Ruth St Hammond, IN	2.0	1.0	900	$1,250	$1.39	25d	1	0.74mi
5 Ruth St Unit 2W Hammond, IN	2.0	1.0	900	$1,250	$1.39	13d	1	0.74mi
323 Memorial Dr Unit 2 Calumet City, IL	2.0	1.0	1000	$1,600	$1.60	25d	1	0.74mi
3 Waltham St Hammond, IN	3.0	1.0	1200	$1,095	$0.91	25d	1	0.75mi
1312 Gordon Ave Calumet City, IL	2.0	1.0	1134	$1,600	$1.41	7d	1	0.85mi
634 Sibley Blvd Calumet City, IL	1.0–2.0	1.0	710	$1,450	$2.04	5d	2	0.99mi
1338 Wentworth Ave Unit 1338 Calumet City, IL	2.0	1.0	800	$1,430	$1.79	25d	1	1.02mi
671 Saginaw Ave Calumet City, IL	3.0	2.0	1250	$2,276	$1.82	10d	1	1.08mi
407 Kenwood St Hammond, IN	2.0	1.0	920	$1,495	$1.62	17d	1	1.27mi
407 Kenwood St Hammond, IN	2.0	1.0	920	$1,495	$1.62	25d	1	1.27mi
1539 Wentworth Ave Unit 3W Calumet City, IL	3.0	1.0	1100	$1,700	$1.55	12d	1	1.48mi
460 Hoxie Ave Unit R Calumet City, IL	2.0	1.0	800	$1,650	$2.06	14d	1	1.50mi
460 Hoxie Ave Unit R Calumet City, IL	2.0	1.0	800	$1,650	$2.06	8d	1	1.50mi

Listing history 25 events

1. 2026-04-15
   price $114,000
2. 2026-04-02
   listed $111,000 Auction
3. 2019-03-11
   soldstatus $135,000
4. 2019-03-01
   soldstatus $134,900 Closed Sale 31-char remark

   Show marketing remark (31 chars)

   There are no remarks available.

5. 2019-01-18
   historical Contingent 31-char remark

   Show marketing remark (31 chars)

   There are no remarks available.

6. 2018-11-03
   price $139,900 31-char remark

   Show marketing remark (31 chars)

   There are no remarks available.

7. 2018-09-20
   listed $144,900 New 31-char remark

   Show marketing remark (31 chars)

   There are no remarks available.

8. 2017-10-28
   historical
9. 2017-09-16
   price
10. 2017-09-06
    status Reactivated
11. 2017-07-26
    status Pending
12. 2017-07-06
    price
13. 2017-06-08
    price
14. 2017-05-17
    price
15. 2017-04-28
    listed New
16. 2009-10-12
    soldstatus $35,000 Closed Sale
17. 2009-09-23
    status Pending
18. 2009-09-23
    historical
19. 2009-07-29
    price $27,900 Price Change
20. 2009-06-24
    listed $39,900
21. 2008-10-17
    historical
22. 2008-10-15
    listed
23. 2008-10-14
    historical
24. 2007-10-13
    listed
25. 2005-02-18
    soldstatus $125,000

ⓘ 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: $3,697 · $308/mo
• Projected year-2 tax: $3,697 · $308/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 ≥102°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 4/10 Moderate 5 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,483
• − Mortgage interest: −$6,386
• − Property taxes: −$3,697
• − Insurance: −$570
• − Repairs & maintenance: −$1,639
• − Management: −$1,639
• − Depreciation: −$3,316
• Taxable income: $3,237
• Est. tax owed @ 24.0%: −$777
• After-tax cash flow: $3,964/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

25 events — show timeline

• 2026-04-15 Price Changed $114,000 MRED as Distributed by MLS Grid
• 2026-04-02 Listed $111,000 MRED as Distributed by MLS Grid
• 2019-03-11 Sold (Public Records) $135,000 Public Records
• 2019-03-01 Sold (MLS) $134,900 MRED as Distributed by MLS Grid
• 2019-01-18 Contingent — MRED as Distributed by MLS Grid
• 2018-11-03 Price Changed $139,900 MRED as Distributed by MLS Grid
• 2018-09-20 Listed $144,900 MRED as Distributed by MLS Grid
• 2017-10-28 Listing Removed — MRED as Distributed by MLS Grid
• 2017-09-16 Price Changed — MRED as Distributed by MLS Grid
• 2017-09-06 Relisted — MRED as Distributed by MLS Grid
• 2017-07-26 Pending — MRED as Distributed by MLS Grid
• 2017-07-06 Price Changed — MRED as Distributed by MLS Grid
• 2017-06-08 Price Changed — MRED as Distributed by MLS Grid
• 2017-05-17 Price Changed — MRED as Distributed by MLS Grid
• 2017-04-28 Listed — MRED as Distributed by MLS Grid
• 2009-10-12 Sold (MLS) $35,000 MRED as Distributed by MLS Grid
• 2009-09-23 Pending — MRED as Distributed by MLS Grid
• 2009-09-23 Listing Removed — MRED as Distributed by MLS Grid
• 2009-07-29 Price Changed $27,900 MRED as Distributed by MLS Grid
• 2009-06-24 Listed $39,900 MRED as Distributed by MLS Grid
• 2008-10-17 Listing Removed — MRED as Distributed by MLS Grid
• 2008-10-15 Listed — MRED as Distributed by MLS Grid
• 2008-10-14 Listing Removed — MRED as Distributed by MLS Grid
• 2007-10-13 Listed — MRED as Distributed by MLS Grid
• 2005-02-18 Sold (Public Records) $125,000 Public Records

Property tax history

+3.3%/yr

Latest (2023): $3,697 · +33.7% YoY. Source: county tax records.