413 Greenbay Ave · Calumet City, IL 60409

$89,900

3 bd · 1.0 ba · 1,179 sqft · SingleFamily public records · 246 Days on market

Built 1959 Est $179k · 50% under ↓ 2% since listing

---

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
• 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

Exciting opportunity! This brick 1 story home offers 3 bedrooms, 1 full bath and a full finished basement for added living space! This property is waiting for the right owner to unlock its full potential and turn it into a stunning home. Conveniently located near shopping and transportation, this home is ideal for a first-time buyer ready to transform it into a fabulous living space or an investor looking to add to their rental portfolio.

Key facts

• Garage
• Built 1959
• Listed 246 days

Property features AI

Finance

• Other: Ownership: Fee simple
• HOA & community: No master association fee required

Exterior

• Parking: Detached owned garage (1 garage space, 1 total parking space)
• Utilities: Public water; Public sewer
• Home design: Detached single-family home; One-story
• Construction: Brick exterior; Built 61–70 years ago; Built before 1978
• Exterior features: Lot less than 0.25 acre; Lot dimensions listed as 0.12

Interior

• Kitchen: Kitchen (17 x 11)
• Bedrooms: 3 bedrooms (all on the main level); Master bedroom on the main level (13 x 10); Bedroom (11 x 11) on the main level; Bedroom (10 x 10) on the main level
• Bathrooms: 1 full bathroom
• Heating & cooling: Natural gas forced-air heating
• Interior features: Finished full basement; 5 total rooms
• Laundry & utility: Dedicated laundry room

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $90k.

Deal economics

• At list price, monthly cash flow is $811 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $90k).
• Recommended offer: $79k (12.0% below list) — sets the bar for market timing.
• Cap rate 17.1% vs local median 8.2% 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); 198 active listings in the ZIP; 20 comparable units currently listed for rent nearby; rentals leasing fast (median 13d 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 39% 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 $622 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 $25k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 246 days — a 12% lower offer ($79k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $35k (28%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1959 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $79,112 (12.0% below list)

Questions for the listing agent

1. It's been on market 246 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 1959 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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: 2.02% ✓
• Cap rate: 17.12%
• Cash-on-cash: 38.68%
• DSCR: 2.72
• GRM: 4.1

CMA / ARV

• ARV (on-the-fly): $179,208
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
811 Sibley Blvd	0.28mi	3/2.0	1,078 (-9%)	2mo	$155,000	$144	67
1129 Sibley Blvd	0.39mi	3/1.0	1,075 (-9%)	3mo	$106,000	$99	64
303 W 153rd Pl	0.72mi	3/1.0	1,188 (+1%)	1mo	$65,000	$55	64
544 Garfield Ave	0.32mi	3/1.0	1,008 (-14%)	9mo	$130,000	$129	53
302 153rd St	0.66mi	3/1.0	1,016 (-14%)	2mo	$175,000	$172	45
708 May St	0.69mi	3/1.5	1,042 (-12%)	7mo	$170,000	$163	40
491 Escanaba Ave	0.65mi	3/3.0	1,303 (+10%)	5mo	$219,000	$168	40
1060 Lucas St	0.54mi	4/3.0 (+1)	1,337 (+13%)	1mo	$270,000	$202	39
433 154th Pl	0.75mi	3/1.5	1,061 (-10%)	9mo	$159,950	$151	39
1155 Harding Ave	0.66mi	4/1.5 (+1)	1,308 (+11%)	8mo	$160,000	$122	37
521 Forsythe Ave	0.73mi	2/1.0 (-1)	1,020 (-14%)	9mo	$155,000	$152	31
1173 Lucas St	0.69mi	3/3.0	1,340 (+14%)	9mo	$235,000	$175	30

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: 38.4%
• Equity multiple: 2.71×
• Total profit: $43,103
• Equity at exit: $13,404

10-year hold

• IRR: 46.4%
• Equity multiple: 6.18×
• Total profit: $130,324
• Equity at exit: $7,773

Cash invested: $25,172 (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: 4.1×

Monthly cashflow live

• Estimated rent: $1,813 high
• Mortgage (P&I): −$471
• Tax est. 1.5%: −$112 /mo · $1,348/yr
• Insurance: −$37
• HOA: −$0
• Vacancy / Maint / Mgmt: −$381
• Net cashflow: $811

Break-even live

Break-even rent $786

Max offer price $89,900

Occupancy floor 50%

Sensitivity live

Price	-10% $873	-5% $842	+0% $811	+5% $780	+10% $749
Rent	-10% $668	-5% $740	+0% $811	+5% $883	+10% $955
Rate	-1.0pp $857	-0.5pp $834	base $811	+0.5pp $788	+1.0pp $764

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: $22,475
• Closing costs: $2,697
• Reserves months: —
• Total cash needed: —

Rent comps 20 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
634 Sibley Blvd Calumet City, IL	1.0–2.0	1.0	710	$1,450	$2.04	5d	2	0.36mi
323 Memorial Dr Unit 2 Calumet City, IL	2.0	1.0	1000	$1,600	$1.60	25d	1	0.57mi
2790 E State St Apt 2E Burnham, IL	3.0	2.0	1100	$1,695	$1.54	25d	1	0.57mi
2605 E Martha Pl Chicago, IL	2.0	2.0	1353	$1,860	$1.37	22d	1	0.76mi
460 Hoxie Ave Unit R Calumet City, IL	2.0	1.0	800	$1,650	$2.06	14d	1	1.02mi
460 Hoxie Ave Unit R Calumet City, IL	2.0	1.0	800	$1,650	$2.06	8d	1	1.02mi
14501 S Torrence Ave Chicago, IL	1.0–2.0	1.0	737	$1,250	$1.69	13d	2	1.04mi
14501 Torrence Ave Unit 3A Burnham, IL	2.0	1.0	800	$1,250	$1.56	11d	1	1.04mi
671 Saginaw Ave Calumet City, IL	3.0	2.0	1250	$2,276	$1.82	10d	1	1.05mi
14518 S Hoxie Ave Chicago, IL	3.0	1.5	1128	$2,450	$2.17	1d	1	1.10mi
115 157th St Unit 3 Calumet City, IL	3.0	1.0	800	$1,350	$1.69	25d	1	1.22mi
250 Yates Ave Unit 1616 Dolton 1E Calumet City, IL	2.0	1.0	875	$1,465	$1.67	8d	1	1.26mi
1601 Downs Dr Unit 3S Calumet City, IL	2.0	1.0	750	$1,400	$1.87	25d	1	1.29mi
4624 Towle Ave Hammond, IN	4.0	2.0	1500	$2,500	$1.67	1d	1	1.31mi
4624 Towle Ave Hammond, IN	4.0	2.0	1500	$2,500	$1.67	3d	1	1.31mi
101 Oglesby Ave Calumet City, IL	2.0	1.0	1000	$1,800	$1.80	22d	1	1.33mi
101 Oglesby Ave Calumet City, IL	2.0	1.0	1100	$1,800	$1.64	12d	1	1.33mi
101 Oglesby Ave Calumet City, IL	2.0	1.0	1000	$1,800	$1.80	20d	1	1.33mi
3 Ruth St Hammond, IN	2.0	1.0	900	$1,250	$1.39	25d	1	1.49mi
5 Ruth St Unit 2W Hammond, IN	2.0	1.0	900	$1,250	$1.39	13d	1	1.49mi

Listing history 17 events

1. 2026-06-04
   status $89,900 Pending 246 DOM
2. 2026-06-03
   days on market $89,900 Active 246 DOM
3. 2026-06-02
   days on market $89,900 Active 245 DOM
4. 2026-06-01
   days on market $89,900 Active 244 DOM
5. 2026-05-31
   days on market $89,900 Active 243 DOM
6. 2026-04-22
   price $89,900
7. 2026-03-16
   price $99,900
8. 2025-12-17
   price $109,900
9. 2025-11-18
   status Auction
10. 2025-11-06
    status Pending
11. 2025-09-18
    listed $124,900 Active
12. 2004-07-21
    soldstatus $130,000
13. 1990-07-13
    soldstatus $73,000
14. 1990-07-01
    soldstatus $72,900
15. 1984-03-20
    soldstatus $52,000
16. 1984-02-01
    soldstatus $51,500
17. 1979-06-07
    soldstatus $92,000

ⓘ 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 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
• 🫁 Air quality 4/10 Moderate 5 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,762
• − Mortgage interest: −$5,036
• − Property taxes: −$1,348
• − Insurance: −$450
• − Repairs & maintenance: −$1,741
• − Management: −$1,741
• − Depreciation: −$2,615
• Taxable income: $8,831
• Est. tax owed @ 24.0%: −$2,119
• After-tax cash flow: $7,617/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

-2.3% since first listed

12 events — show timeline

• 2026-04-22 Price Changed $89,900 MRED as Distributed by MLS Grid
• 2026-03-16 Price Changed $99,900 MRED as Distributed by MLS Grid
• 2025-12-17 Price Changed $109,900 MRED as Distributed by MLS Grid
• 2025-11-18 Relisted — MRED as Distributed by MLS Grid
• 2025-11-06 Pending — MRED as Distributed by MLS Grid
• 2025-09-18 Listed $124,900 MRED as Distributed by MLS Grid
• 2004-07-21 Sold (Public Records) $130,000 Public Records
• 1990-07-13 Sold (Public Records) $73,000 Public Records
• 1990-07-01 Sold (Public Records) $72,900 Public Records
• 1984-03-20 Sold (Public Records) $52,000 Public Records
• 1984-02-01 Sold (Public Records) $51,500 Public Records
• 1979-06-07 Sold (Public Records) $92,000 Public Records

Property tax history

+3.7%/yr

Latest (2023): $7,087 · +20.5% YoY. Source: county tax records.