500 Park Ave #436 · Calumet City, IL 60409

$34,900

1 bd · 1.0 ba · 750 sqft · Condo · 69 Days on market

Built 1976 $400/mo HOA · 29% of rent ↓ 27% 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• 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

LOVELY 1 BEDROOM CONDO..SURROUNDED BY A BEAUTIFUL GOLF COURSE..NEW CUSTOM OAK CABINET IN KITCHEN.. NEW CERAMIC TILE BATH.. FRESHLY PAINTED..THIS UNIT FEATURES AN EAT IN KITCHEN.. LIVING ROOM/DINNING ROOM AND A ENCLOSED BALCONY...WASHER AND DRYER IN UNIT..ALL APPLS. AS IS.. THIS IS A MUST SEE!!!

Key facts

• Gated community
• Galley kitchen
• Private balcony

Tags

• GALLEY KITCHEN
• PRIVATE BALCONY
• GATED COMMUNITY

Property features AI

Finance

• Other: Part of a building with 289 units; Living area reported as estimated
• HOA & community: Monthly association fee of $400; Association fee includes water, gas, insurance, clubhouse, pool, and exterior maintenance; Pets allowed (cats OK)

Exterior

• Parking: One parking space (total)
• Utilities: Public water; Public sewer
• Home design: Attached single condo; Entry level: 4; Condo ownership
• Construction: Brick construction; Estimated age: 41–50 years; Built before 1978
• Exterior features: Common lot/grounds

Interior

• Kitchen: Kitchen (main level) — approx. 16 x 8
• Bedrooms: Master bedroom (main level) — approx. 19 x 11; Three additional bedrooms (one listed as Bedroom 2, Bedroom 3, Bedroom 4)
• Bathrooms: One full bathroom
• Heating & cooling: Natural gas forced air heating
• Interior features: Four total rooms; Dining room (main level) — approx. 8 x 10; Living room (main level) — approx. 16 x 11; Family room; Laundry room
• Laundry & utility: Dedicated laundry room

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $35k.

Deal economics

• At list price, monthly cash flow is $474 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $35k).
• Recommended offer: $33k (6.0% below list) — sets the bar for market timing.
• Cap rate 22.6% 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 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); 198 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 6,272 units permitted in Cook County in 2024 (4,658 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $241 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 6.2% rent growth), your $10k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 69 days — a 6% lower offer ($33k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 19y ago; this cycle's ask has dropped $5k (13%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: HOA is 29% of rent.

Recommended offer $32,806 (6.0% below list)

Questions for the listing agent

1. It's been on market 69 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1976 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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: 3.91% ✓
• Cap rate: 22.60%
• Cash-on-cash: 58.25%
• DSCR: 3.59
• GRM: 2.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 6.17% rent growth · sell at horizon

5-year hold

• IRR: 62.4%
• Equity multiple: 4.00×
• Total profit: $29,295
• Equity at exit: $5,204

10-year hold

• IRR: 68.5%
• Equity multiple: 9.71×
• Total profit: $85,092
• Equity at exit: $3,018

Cash invested: $9,772 (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: 2.1×

Monthly cashflow live

• Estimated rent: $1,366 medium
• Mortgage (P&I): −$183
• Tax from tax record: −$7 /mo · $88/yr
• Insurance: −$15
• HOA: −$400
• Vacancy / Maint / Mgmt: −$287
• Net cashflow: $474

Break-even live

Break-even rent $766

Max offer price $34,900

Occupancy floor 60%

Sensitivity live

Price	-10% $494	-5% $484	+0% $474	+5% $464	+10% $455
Rent	-10% $366	-5% $420	+0% $474	+5% $528	+10% $582
Rate	-1.0pp $492	-0.5pp $483	base $474	+0.5pp $465	+1.0pp $456

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: $8,725
• Closing costs: $1,047
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1450 E 154th Pl Dolton, IL	1.0	1.0	800	$1,250	$1.56	25d	1	1.31mi

HOA detail condo

• Monthly dues: $400 · $4,800/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 10 events

1. 2026-05-08
   status Pending
2. 2026-04-02
   price $34,900
3. 2026-03-23
   status Active
4. 2026-01-22
   status Pending
5. 2025-12-30
   listed $39,900 Active
6. 2007-10-10
   soldstatus $70,500
7. 2007-10-05
   soldstatus $70,500 295-char remark

   Show marketing remark (295 chars)

   LOVELY 1 BEDROOM CONDO..SURROUNDED BY A BEAUTIFUL GOLF COURSE..NEW CUSTOM OAK CABINET IN KITCHEN.. NEW CERAMIC TILE BATH.. FRESHLY PAINTED..THIS UNIT FEATURES AN EAT IN KITCHEN.. LIVING ROOM/DINNING ROOM AND A ENCLOSED BALCONY...WASHER AND DRYER IN UNIT..ALL APPLS. AS IS.. THIS IS A MUST SEE!!!

8. 2007-06-27
   historical 295-char remark

   Show marketing remark (295 chars)

   LOVELY 1 BEDROOM CONDO..SURROUNDED BY A BEAUTIFUL GOLF COURSE..NEW CUSTOM OAK CABINET IN KITCHEN.. NEW CERAMIC TILE BATH.. FRESHLY PAINTED..THIS UNIT FEATURES AN EAT IN KITCHEN.. LIVING ROOM/DINNING ROOM AND A ENCLOSED BALCONY...WASHER AND DRYER IN UNIT..ALL APPLS. AS IS.. THIS IS A MUST SEE!!!

9. 2007-04-23
   listed $75,000 295-char remark

   Show marketing remark (295 chars)

   LOVELY 1 BEDROOM CONDO..SURROUNDED BY A BEAUTIFUL GOLF COURSE..NEW CUSTOM OAK CABINET IN KITCHEN.. NEW CERAMIC TILE BATH.. FRESHLY PAINTED..THIS UNIT FEATURES AN EAT IN KITCHEN.. LIVING ROOM/DINNING ROOM AND A ENCLOSED BALCONY...WASHER AND DRYER IN UNIT..ALL APPLS. AS IS.. THIS IS A MUST SEE!!!

10. 2006-01-03
    soldstatus $48,000

ⓘ 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: $88 · $7/mo
• Projected year-2 tax: $440 · $37/mo
• Expected delta: +$352/yr (+$29/mo · 400.1%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (shaded) · 21% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥103°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,393
• − Mortgage interest: −$1,955
• − Property taxes: −$88
• − Insurance: −$174
• − Repairs & maintenance: −$1,311
• − Management: −$1,311
• − HOA: −$4,800
• − Depreciation: −$1,015
• Taxable income: $5,738
• Est. tax owed @ 24.0%: −$1,377
• After-tax cash flow: $4,315/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

-27.3% since first listed

10 events — show timeline

• 2026-05-08 Pending — MRED as Distributed by MLS Grid
• 2026-04-02 Price Changed $34,900 MRED as Distributed by MLS Grid
• 2026-03-23 Relisted — MRED as Distributed by MLS Grid
• 2026-01-22 Pending — MRED as Distributed by MLS Grid
• 2025-12-30 Listed $39,900 MRED as Distributed by MLS Grid
• 2007-10-10 Sold (Public Records) $70,500 Public Records
• 2007-10-05 Sold (MLS) $70,500 MRED as Distributed by MLS Grid
• 2007-06-27 Listing Removed — MRED as Distributed by MLS Grid
• 2007-04-23 Listed $75,000 MRED as Distributed by MLS Grid
• 2006-01-03 Sold (Public Records) $48,000 Public Records

Property tax history

-36.4%/yr

Latest (2014): $88 · -45.0% YoY. Source: county tax records.