352 Crandon Ave · Calumet City, IL 60409

$275,000

6 bd · 3.0 ba · — sqft · MultiFamily · 50 Days on market

Built 1972 Fair condition

---

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
• DSCR +10.0/10.0
• 1% rule +9.4/10.0
• ARV discount +7.5/15.0
• Rent growth +4.0/5.0
• Livability +3.6/5.0
• Condition / age +2.2/5.0
• Schools +0.7/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks

Great for investors or owner occupants. Don't miss this solid brick Calumet City 2 unit building, offering space and functionality. Each unit offers 3 bedrooms and 1.5 baths. Hardwood floors Throughout. Kitchens in both units offer Oak Cabinets in first floor unit with double countertop and backsplashes. New windows throughout. First floor has enclosed porch with French barn doors. Second floor balcony. Ceiling fans. Full bathroom in the basement. 2.5 Car Detached Garage. Property is being sold As-Is. Multiple offers received. Please submit highest and best by 5:00 Monday May 4th.

Key facts

• Oak cabinets
• Backsplashes
• French barn doors

Tags

• SOLID BRICK BUILDING
• OAK CABINETS
• DOUBLE COUNTERTOP
• BACKSPLASHES
• ENCLOSED PORCH
• FRENCH BARN DOORS

Property features AI

Finance

• Other: Property contains two units (3-bedroom units) — suitable for multi-family ownership; Lease information: both units show lease expiration dates (listed as December 1, 1999) and security deposit noted as 0 for Unit 1; Parcel number available
• Financial info: Special service area: No; Tax exemptions listed: Homeowner, Senior, Senior Freeze

Exterior

• Parking: Detached garage with 2 garage spaces (2 total parking spaces)
• Utilities: Public water; Public sewer
• Home design: Two- to four-unit building (2 units); Fee simple ownership; Built 51–60 years ago; Not rebuilt or rehabbed; Zoned MULTI
• Construction: Brick construction; Built before 1978
• Exterior features: Balcony; Curbs, sidewalks, street lights, and paved streets

Interior

• Kitchen: Stove; Refrigerator
• Bedrooms: 6 bedrooms total; Each unit contains a 3-bedroom layout (first-floor 3 BR unit; second-floor 3 BR unit)
• Bathrooms: 3 full bathrooms; 2 half bathrooms; Each unit has 1 full and 1 half bathroom
• Heating & cooling: Natural gas heating
• Interior features: 10 total rooms; Partially finished full basement; Ceiling fan(s); Sump pump; Balcony
• Laundry & utility: Tenant pays electric, gas, and heat for units

What this means for you Summary

Snapshot

• This is a 2 × 3.0-bed/1.5-bath units multifamily listed at $275k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $1k ($15k/yr) — positive. Per door: $609/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $275k).
• Recommended offer: $267k (3.0% below list) — sets the bar for market timing.
• Cap rate 11.6% 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 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; 6,272 units permitted in Cook County in 2024 (4,658 in 5+ unit buildings).
• At $3,947/mo this rent would consume 86% of the median local household income ($55k/yr) (locally 2415% 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 $2k of loan paydown is wiped out by about $8k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 6.2% rent growth), your $77k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 50 days — a 3% lower offer ($267k) is reasonable based on typical stale-listing flexibility.

Recommended offer $266,750 (3.0% below list)

Questions for the listing agent

1. It's been on market 50 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
5. Built in 1972 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. 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.
10. 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.
11. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.44% ✓
• Cap rate: 11.61%
• Cash-on-cash: 18.98%
• DSCR: 1.84
• GRM: 5.8

CMA / ARV

No comps found within radius.

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
353 Luella Ave	0.03mi	5/2.5 (-1)	—	10mo	$300,000	—	71
375 Madison Ave	0.41mi	6/3.0	—	4mo	$163,000	—	66
1641 Patricia Pl	0.38mi	5/3.0 (-1)	—	2mo	$276,500	—	63
454 Madison Ave	0.50mi	6/4.0	—	2mo	$300,000	—	58
412 Prairie Ave	0.52mi	6/4.0	—	4mo	$280,000	—	56
430 Madison Ave	0.48mi	6/3.0	—	12mo	$250,000	—	55
1645 Patricia Pl	0.38mi	7/5.0 (+1)	—	3mo	$242,000	—	54
518 Jeffery Ave	0.54mi	6/4.0	—	13mo	$219,000	—	48
74 Yates Ave	0.46mi	7/5.0 (+1)	—	8mo	$260,000	—	47
1616 Memorial Dr	0.53mi	7/4.0 (+1)	—	9mo	$335,000	—	46
89 Oglesby Ave	0.40mi	7/5.0 (+1)	—	12mo	$357,000	—	46
382 Prairie Ave	0.50mi	7/5.0 (+1)	—	9mo	$300,000	—	44

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: 14.4%
• Equity multiple: 1.60×
• Total profit: $46,040
• Equity at exit: $41,003

10-year hold

• IRR: 25.4%
• Equity multiple: 3.56×
• Total profit: $197,084
• Equity at exit: $23,777

Cash invested: $77,000 (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: 11.6×

Monthly cashflow live

• Estimated rent: $3,947 high
• Mortgage (P&I): −$1,442
• Tax est. 1.5%: −$344 /mo · $4,125/yr
• Insurance: −$115
• HOA: −$0
• Vacancy / Maint / Mgmt: −$829
• Net cashflow: $1,218

Break-even live

Break-even rent $2,406

Max offer price $275,000

Occupancy floor 64%

Sensitivity live

Price	-10% $1,408	-5% $1,313	+0% $1,218	+5% $1,123	+10% $1,028
Rent	-10% $906	-5% $1,062	+0% $1,218	+5% $1,374	+10% $1,529
Rate	-1.0pp $1,356	-0.5pp $1,288	base $1,218	+0.5pp $1,146	+1.0pp $1,074

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	3.0	1.5	$3,946
Total (2 units)			$3,947

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: $68,750
• Closing costs: $8,250
• Reserves months: —
• Total cash needed: —

Listing history 15 events

1. 2026-06-17
   status $275,000 Pending 50 DOM
2. 2026-06-16
   days on market $275,000 Contingent - Continue to Show 50 DOM
3. 2026-06-15
   days on market $275,000 Contingent - Continue to Show 49 DOM
4. 2026-06-13
   days on market $275,000 Contingent - Continue to Show 47 DOM
5. 2026-06-13
   days on market $275,000 Contingent - Continue to Show 46 DOM
6. 2026-06-09
   days on market $275,000 Contingent - Continue to Show 43 DOM
7. 2026-06-08
   days on market $275,000 Contingent - Continue to Show 42 DOM
8. 2026-06-07
   days on market $275,000 Contingent - Continue to Show 41 DOM
9. 2026-06-04
   days on market $275,000 Contingent - Continue to Show 38 DOM
10. 2026-06-03
    days on market $275,000 Contingent - Continue to Show 37 DOM
11. 2026-06-02
    days on market $275,000 Contingent - Continue to Show 36 DOM
12. 2026-06-01
    days on market $275,000 Contingent - Continue to Show 35 DOM
13. 2026-05-31
    days on market $275,000 Contingent - Continue to Show 34 DOM
14. 2026-05-12
    historical Contingent - Continue to Show
15. 2026-04-26
    listed $275,000 Active

ⓘ 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: $47,364
• − Mortgage interest: −$15,404
• − Property taxes: −$4,125
• − Insurance: −$1,375
• − Repairs & maintenance: −$3,789
• − Management: −$3,789
• − Depreciation: −$8,000
• Taxable income: $10,881
• Est. tax owed @ 24.0%: −$2,612
• After-tax cash flow: $12,000/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.

Condition & rehab AI · 12 photos

Fair 45/100 Moderate rehab

This 2-unit property requires moderate renovations, including painting, flooring, and kitchen updates, to improve its condition and value.

Repairs flagged

• Major Kitchen cabinets — No photos of kitchen
• Minor Paint touch-ups — Paint appears worn in some areas

Value-add opportunities

• Both Painting — Enhances curb appeal and interior aesthetics
• Both New flooring — Improves living space and adds value
• Both Kitchen renovation — Modernizes the space and adds value

Renovation cost estimate screening

Repair item	Severity	Est. cost
Kitchen cabinets · No photos of kitchen	Major	$15,000–50,000
Paint touch-ups · Paint appears worn in some areas	Minor	$500–3,000
Total estimated repair cost · 2 items		$15,500–53,000

Value-add ROI direction

• Both Painting — Enhances curb appeal and interior aesthetics ↑
• Both New flooring — Improves living space and adds value ↑
• Both Kitchen renovation — Modernizes the space and adds value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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

2 events — show timeline

• 2026-05-12 Contingent — MRED as Distributed by MLS Grid
• 2026-04-26 Listed $275,000 MRED as Distributed by MLS Grid