investment property calumet city il 2 properties one lot! great investment opp. $150k

[Ericka Fairbanks]

This investment property in Calumet City, IL, offers a potentially lucrative opportunity with two units—a 4-bedroom, 2-bath main house and a 2-bedroom, 1-bath coach house—on the same lot for sale for $150,000. The main house is 2,300 sq ft, with a basement and attic, while the coach house will be empty at sale. Both properties were remodeled in 2022, both inside and outside. However, the main house has a non-paying tenant, and the sale may require an eviction or "cash for keys" negotiation. Please do not disrupt current tenants! Must show proof of funds for additional information and viewing! 8 mins away from Torrence ave featuring new Chick- Fil- A.

Here are the key points to consider:

• Rental Potential: Based on the 2025 Fair Market Rent (FMR) for ZIP code 60409, the estimated rent for a 4-bedroom is $2,160/month, and the 2-bedroom coach house could rent for $1,430/month. This brings potential monthly rental income to $3,590.
  • Fair Market Rent per HUD 2025. 60409 https://www.huduser.gov/portal/datasets/fmr/fmrs/FY2025_code/2025zip_code_calc.odn?zcta=60409&metro_code=METRO16980M16980&year=2025
• Total Lot Size: 4,400 sq ft.
• Costs: The owner pays for water and sewer, while tenants handle gas/heat and electricity.

A challenge is the tenant situation in the main house, but if resolved, it could be a valuable investment, especially with the recent renovations and the favorable rent projections.

Photos and videos

https://drive.google.com/drive/folders/1jsx5TqSH5sjiQaBgyfagm3IF0YyTsjEt?usp=drive_link

Comps with equivalent sq ft

https://redf.in/ldZlUA (https://redf.in/ldZlUA)

https://www.redfin.com/IL/Calumet-City/246-156th-Pl-60409/home/12895986 (https://www.redfin.com/IL/Calumet-City/246-156th-Pl-60409/ho... (https://www.zillow.com/homedetails/227-Warren-St-Calumet-City-IL-60409/4285197_zpid/)

ARV- based on comps above $272,000