1249 Cunningham Dr Unit 3E · Calumet City, IL 60409

$75,000

2 bd · 1.5 ba · 1,000 sqft · Condo · 95 Days on market

Built 1982 $315/mo HOA · 20% of rent

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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 +29.0/30.0
• 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 +1.0/10.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to this fantastic condo, offering the ideal blend of comfort, space, and investment potential! With its spacious layout, cozy atmosphere, and prime location, this property is perfect for rental income or as a primary residence. 2 large bedrooms master bedroom with half bath cozy kitchen with small table space spacious living room and dining room. Add value through minor upgrades and cosmetic touches. Some TLC this condo can be transformed into a stunning rental or primary residence. Investors, first-time buyers make it yours today. Seller motivated!

Key facts

• $315 HOA
• Parking
• Built 1982

Property features AI

Finance

• Other: Parcel number available; Association master fee not required
• HOA & community: Condo association fee $315 monthly; HOA covers exterior maintenance, lawn care and snow removal; Pets not allowed

Exterior

• Parking: Assigned parking (1 space)
• Utilities: Water: Lake Michigan; Sewer: Public sewer; Electric/gas available (natural gas heating noted)
• Home design: Attached single (Condo) in a condo/duplex building; Entry on level 3; Building contains 6 units; Built of brick; Age approximately 41–50 years; Commuter-friendly location with bus, train and interstate access
• Construction: Brick construction
• Exterior features: Balcony; Zero lot line

Interior

• Kitchen: Kitchen with eating area/table space (11 x 10)
• Bedrooms: Master bedroom on main level (16 x 14); Second bedroom on main level (13 x 12); Additional bedrooms listed
• Flooring: Laminate/Wood laminate flooring in living and dining areas
• Bathrooms: 1 full bath; 1 half bath
• Heating & cooling: Natural gas heating; Central air conditioning
• Interior features: Dining area combined with living room; Total of 5 rooms; Laminate flooring throughout main living areas
• Laundry & utility: Laundry room

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath condo listed at $75k.

Deal economics

• At list price, monthly cash flow is $256 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $75k).
• Recommended offer: $68k (9.0% below list) — sets the bar for market timing.
• Cap rate 10.4% vs local median 8.3% 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-, crime D-, amenities F.
• 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.
• Zoned schools: Hoover Elem School (556 students, 0% FRL); Schrum Memorial School (math 24% / reading 24%, grade F, #332 of 665 statewide, top 55%, 277 students, 0% FRL); Thornton Fractnl No High School (math 6% / reading 10%, grade F, #587 of 693 statewide, top 85%, 1,383 students, 0% FRL).
• Market conditions: Rents rising fast (+6.2%/yr); 196 active listings in the ZIP; 14 comparable units currently listed for rent nearby; rentals at typical pace (median 14d 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 35% 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 $519 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 6.2% rent growth), your $21k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 95 days — a 9% lower offer ($68k) is reasonable based on typical stale-listing flexibility.
• 9 sale attempts since 15y 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.
• Current owner paid $15k; list at $75k implies a 400% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 4.4% of price.

Recommended offer $68,250 (9.0% below list)

Questions for the listing agent

1. It's been on market 95 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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: 2.14% ✓
• Cap rate: 10.38%
• Cash-on-cash: 14.61%
• DSCR: 1.65
• GRM: 3.9

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: 11.0%
• Equity multiple: 1.46×
• Total profit: $9,744
• Equity at exit: $11,183

10-year hold

• IRR: 23.8%
• Equity multiple: 3.57×
• Total profit: $53,949
• Equity at exit: $6,485

Cash invested: $21,000 (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: 3.9×

Monthly cashflow live

• Estimated rent: $1,607 high
• Mortgage (P&I): −$393
• Tax from tax record: −$275 /mo · $3,296/yr
• Insurance: −$31
• HOA: −$315
• Vacancy / Maint / Mgmt: −$338
• Net cashflow: $256

Break-even live

Break-even rent $1,284

Max offer price $75,000

Occupancy floor 79%

Sensitivity live

Price	-10% $298	-5% $277	+0% $256	+5% $234	+10% $213
Rent	-10% $129	-5% $192	+0% $256	+5% $319	+10% $383
Rate	-1.0pp $293	-0.5pp $275	base $256	+0.5pp $236	+1.0pp $216

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: $18,750
• Closing costs: $2,250
• Reserves months: —
• Total cash needed: —

Rent comps 14 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1312 Gordon Ave Calumet City, IL	2.0	1.0	1134	$1,600	$1.41	9d	1	0.80mi
1338 Wentworth Ave Unit 1338 Calumet City, IL	2.0	1.0	800	$1,430	$1.79	26d	1	1.11mi
331 157th St Calumet City, IL	1.0	1.0	900	$1,100	$1.22	26d	1	1.12mi
671 Saginaw Ave Calumet City, IL	3.0	2.0	1250	$2,276	$1.82	12d	1	1.17mi
34 Elizabeth St Calumet City, IL	3.0	1.0	1246	$2,400	$1.93	0d	1	1.30mi
1539 Wentworth Ave Unit 3W Calumet City, IL	3.0	1.0	1100	$1,700	$1.55	14d	1	1.36mi
115 157th St Unit 3 Calumet City, IL	3.0	1.0	800	$1,350	$1.69	26d	1	1.37mi
3 Waltham St Hammond, IN	3.0	1.0	1200	$1,095	$0.91	26d	1	1.41mi
5 Ruth St Unit 2W Hammond, IN	2.0	1.0	900	$1,250	$1.39	14d	1	1.43mi
3 Ruth St Hammond, IN	2.0	1.0	900	$1,250	$1.39	26d	1	1.43mi
659 Paxton Ave Calumet City, IL	3.0	2.0	1255	$2,461	$1.96	12d	1	1.45mi
3007 Bernice Rd Unit 3007 1S Lansing, IL	2.0	1.0	850	$1,400	$1.65	0d	1	1.50mi
3023 Bernice Rd Apt 2S Lansing, IL	3.0	1.0	1000	$1,600	$1.60	0d	1	1.50mi
3023 Bernice Rd Unit 3030 3N Lansing, IL	3.0	1.0	1000	$1,400	$1.40	0d	1	1.50mi

HOA detail condo

• Monthly dues: $315 · $3,780/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 50 events

1. 2026-06-21
   days on market $75,000 Active 95 DOM
2. 2026-06-18
   days on market $75,000 Active 92 DOM
3. 2026-06-17
   days on market $75,000 Active 91 DOM
4. 2026-06-16
   days on market $75,000 Active 90 DOM
5. 2026-06-15
   days on market $75,000 Active 89 DOM
6. 2026-06-13
   days on market $75,000 Active 87 DOM
7. 2026-06-09
   days on market $75,000 Active 83 DOM
8. 2026-06-08
   days on market $75,000 Active 82 DOM
9. 2026-06-07
   days on market $75,000 Active 81 DOM
10. 2026-06-04
    days on market $75,000 Active 78 DOM
11. 2026-06-03
    days on market $75,000 Active 77 DOM
12. 2026-06-02
    days on market $75,000 Active 76 DOM
13. 2026-06-01
    days on market $75,000 Active 75 DOM
14. 2026-05-31
    days on market $75,000 Active 74 DOM
15. 2026-03-18
    listed $75,000 Active
16. 2025-05-31
    status Pending
17. 2025-05-30
    historical
18. 2025-04-22
    price
19. 2025-02-19
    status Active
20. 2025-02-19
    price
21. 2024-12-18
    status Pending
22. 2024-10-23
    listed Active
23. 2020-09-21
    status Contingent (Do Not Show)
24. 2020-09-21
    historical
25. 2020-08-14
    listed New
26. 2016-05-11
    soldstatus $15,000 Closed Sale
27. 2016-03-14
    price $16,000
28. 2016-03-14
    status Pending
29. 2016-03-09
    price $16,500
30. 2016-03-01
    price $17,700
31. 2016-01-05
    status Reactivated
32. 2015-10-23
    status Pending
33. 2015-09-23
    price $18,000
34. 2015-09-14
    price $18,500
35. 2015-09-08
    price $19,250
36. 2015-09-03
    price $19,500
37. 2015-08-28
    price $21,500
38. 2015-08-20
    price $22,500
39. 2015-08-13
    price $24,500
40. 2015-08-03
    price $27,500
41. 2015-07-27
    price $28,500
42. 2015-07-20
    price $29,500
43. 2015-07-15
    price $30,500
44. 2015-07-02
    status Reactivated
45. 2015-06-21
    status Pending
46. 2015-06-16
    price $31,500
47. 2015-06-05
    listed $34,500 New
48. 2013-02-23
    historical
49. 2012-10-20
    price Price Change
50. 2012-08-31
    price Reactivated

ⓘ 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: $3,296 · $275/mo
• Projected year-2 tax: $3,296 · $275/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 4 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,288
• − Mortgage interest: −$4,201
• − Property taxes: −$3,296
• − Insurance: −$375
• − Repairs & maintenance: −$1,543
• − Management: −$1,543
• − HOA: −$3,780
• − Depreciation: −$2,182
• Taxable income: $2,368
• Est. tax owed @ 24.0%: −$568
• After-tax cash flow: $2,499/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

+82.9% since first listed

47 events — show timeline

• 2026-03-18 Listed $75,000 MRED as Distributed by MLS Grid
• 2025-05-31 Pending — MRED as Distributed by MLS Grid
• 2025-05-30 Listing Removed — MRED as Distributed by MLS Grid
• 2025-04-22 Price Changed — MRED as Distributed by MLS Grid
• 2025-02-19 Relisted — MRED as Distributed by MLS Grid
• 2025-02-19 Price Changed — MRED as Distributed by MLS Grid
• 2024-12-18 Pending — MRED as Distributed by MLS Grid
• 2024-10-23 Listed — MRED as Distributed by MLS Grid
• 2020-09-21 Pending — MRED as Distributed by MLS Grid
• 2020-09-21 Listing Removed — MRED as Distributed by MLS Grid
• 2020-08-14 Listed — MRED as Distributed by MLS Grid
• 2016-05-11 Sold (MLS) $15,000 MRED as Distributed by MLS Grid
• 2016-03-14 Price Changed $16,000 MRED as Distributed by MLS Grid
• 2016-03-14 Pending — MRED as Distributed by MLS Grid
• 2016-03-09 Price Changed $16,500 MRED as Distributed by MLS Grid
• 2016-03-01 Price Changed $17,700 MRED as Distributed by MLS Grid
• 2016-01-05 Relisted — MRED as Distributed by MLS Grid
• 2015-10-23 Pending — MRED as Distributed by MLS Grid
• 2015-09-23 Price Changed $18,000 MRED as Distributed by MLS Grid
• 2015-09-14 Price Changed $18,500 MRED as Distributed by MLS Grid
• 2015-09-08 Price Changed $19,250 MRED as Distributed by MLS Grid
• 2015-09-03 Price Changed $19,500 MRED as Distributed by MLS Grid
• 2015-08-28 Price Changed $21,500 MRED as Distributed by MLS Grid
• 2015-08-20 Price Changed $22,500 MRED as Distributed by MLS Grid
• 2015-08-13 Price Changed $24,500 MRED as Distributed by MLS Grid
• 2015-08-03 Price Changed $27,500 MRED as Distributed by MLS Grid
• 2015-07-27 Price Changed $28,500 MRED as Distributed by MLS Grid
• 2015-07-20 Price Changed $29,500 MRED as Distributed by MLS Grid
• 2015-07-15 Price Changed $30,500 MRED as Distributed by MLS Grid
• 2015-07-02 Relisted — MRED as Distributed by MLS Grid
• 2015-06-21 Pending — MRED as Distributed by MLS Grid
• 2015-06-16 Price Changed $31,500 MRED as Distributed by MLS Grid
• 2015-06-05 Listed $34,500 MRED as Distributed by MLS Grid
• 2013-02-23 Listing Removed — MRED as Distributed by MLS Grid
• 2012-10-20 Price Changed — MRED as Distributed by MLS Grid
• 2012-08-31 Relisted — MRED as Distributed by MLS Grid
• 2012-08-31 Price Changed — MRED as Distributed by MLS Grid
• 2012-08-27 Pending — MRED as Distributed by MLS Grid
• 2012-08-16 Contingent — MRED as Distributed by MLS Grid
• 2012-04-29 Price Changed — MRED as Distributed by MLS Grid
• 2012-04-03 Price Changed — MRED as Distributed by MLS Grid
• 2012-03-10 Price Changed — MRED as Distributed by MLS Grid
• 2012-01-28 Price Changed — MRED as Distributed by MLS Grid
• 2011-10-28 Price Changed — MRED as Distributed by MLS Grid
• 2011-09-27 Listed — MRED as Distributed by MLS Grid
• 1998-07-08 Sold (Public Records) $69,000 Public Records
• 1990-06-28 Sold (Public Records) $41,000 Public Records

Property tax history

+5.5%/yr

Latest (2023): $3,296 · +28.3% YoY. Source: county tax records.