103 3rd St · LaSalle, IL 61301

$69,900

3 bd · 1.0 ba · 1,095 sqft · SingleFamily public records · 129 Days on market

Built 1909 2,178 sqft lot Est $119k · 41% under ↓ 6% 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 +29.3/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +9.3/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.7/10.0
• Appreciation +0.0/10.0

Listing remarks

Positioned on a highly visible corner along one of the busiest arteries in central Illinois, this 3-bedroom property offers unbeatable exposure and incredible upside! Zoned C-3 Commercial and located within the TIF 5 District in LaSalle, the possibilities here are wide open! Formerly a rental, the home is ready for revitalization! Off-street parking adds convenience and appeal. Selling AS IS, making it a compelling opportunity to renovate and re-lease, reposition for commercial use, or revitalize and flip for the upcoming prime season. A smart investment in a location that works for you!

Key facts

• Zoned c-3 commercial
• Off-street parking
• 2,178 sq ft lot

Tags

• HIGHLY VISIBLE CORNER
• ZONED C-3 COMMERCIAL
• OFF-STREET PARKING

Property features AI

Finance

• Other: Fee simple ownership; School bus service available
• Financial info: Special service area applies
• HOA & community: No master association fee required; Community amenities nearby: park, pool, tennis courts, curbs, sidewalks, street lights

Exterior

• Parking: Off-street parking via driveway; Concrete and gravel surfaces; Total of 1 parking space
• Utilities: Public water; Public sewer; Electric service with circuit breakers
• Home design: Detached single-family home; One-story
• Construction: Over 100 years old; Stucco exterior; Brick/mortar foundation; Asphalt roof
• Exterior features: Front porch; Corner lot

Interior

• Kitchen: Country-style kitchen with walk-in pantry
• Bedrooms: 3 bedrooms (all on the main level); Master bedroom on the main level
• Flooring: Carpet in living room, dining room and bedrooms; Vinyl in kitchen and pantry
• Bathrooms: 1 full bathroom
• Heating & cooling: Natural gas heating; Window air conditioning units
• Interior features: 6 total rooms; Unfinished, partial basement; Pantry (main level)
• Laundry & utility: Laundry room

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $70k.

Deal economics

• At list price, monthly cash flow is $245 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $70k).
• Recommended offer: $62k (12.0% below list) — sets the bar for market timing.
• Cap rate 10.5% vs local median 5.6% in LaSalle — 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 64/100 on livability (#718 in IL) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: health & safety C-, employment D+, amenities F.
• La Salle-Peru Twp Hsd 120 (town): math 15% / reading 26% proficiency, ranked #427 of 620 in IL (top 69%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Northwest Elem School (math 4% / reading 18%, grade F, #1,460 of 2,056 statewide, top 72%, 634 students, 0% FRL); Lincoln Jr High School (math 4% / reading 11%, grade F, #612 of 665 statewide, top 93%, 258 students, 0% FRL); La Salle-Peru Twp High School (math 15% / reading 26%, grade F, #350 of 693 statewide, top 51%, 1,198 students, 0% FRL).
• Market conditions: 69 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 82 units permitted in LaSalle County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $483 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• LaSalle County population projected at -16% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $20k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 129 days — a 12% lower offer ($62k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $5k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: property tax is 2.6% of price; built in 1909 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $61,512 (12.0% below list)

Questions for the listing agent

1. It's been on market 129 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 1909 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
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: 1.43% ✓
• Cap rate: 10.50%
• Cash-on-cash: 15.03%
• DSCR: 1.67
• GRM: 5.8

CMA / ARV

• ARV (on-the-fly): $119,355
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
422 Chartres St	0.09mi	2/1.0 (-1)	1,096 (+0%)	4mo	$120,000	$109	87
748 7th St	0.54mi	3/1.0	1,146 (+5%)	1mo	$135,900	$119	66
542 8th St	0.48mi	3/2.0	1,120 (+2%)	8mo	$125,100	$112	63
43 Westclox Ave	0.45mi	2/1.0 (-1)	1,164 (+6%)	4mo	$33,000	$28	60
418 6th St	0.39mi	3/1.0	1,236 (+13%)	1mo	$176,000	$142	60
508 7th St	0.40mi	2/2.0 (-1)	1,183 (+8%)	3mo	$121,000	$102	56
308 6th St	0.25mi	2/1.0 (-1)	935 (-15%)	8mo	$125,000	$134	52
618 10th St	0.58mi	2/1.0 (-1)	987 (-10%)	1mo	$90,500	$92	50
1038 Wright St	0.63mi	2/1.0 (-1)	1,005 (-8%)	3mo	$95,000	$95	50
1038 Wright St	0.63mi	2/1.0 (-1)	1,005 (-8%)	3mo	$95,000	$95	50
719 12th St	0.69mi	3/2.5	1,180 (+8%)	2mo	$140,000	$119	47
1409 Pulaski St	0.50mi	3/1.0	1,259 (+15%)	8mo	$120,000	$95	45

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 5.7%
• Equity multiple: 1.22×
• Total profit: $4,342
• Equity at exit: $10,422

10-year hold

• IRR: 15.2%
• Equity multiple: 2.23×
• Total profit: $24,104
• Equity at exit: $6,044

Cash invested: $19,572 (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 61301

• Home prices YoY: -24.3%
• Active inventory: 69
• Price-to-rent: 5.8×

Monthly cashflow live

• Estimated rent: $1,000 medium
• Mortgage (P&I): −$367
• Tax from tax record: −$149 /mo · $1,790/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$210
• Net cashflow: $245

Break-even live

Break-even rent $690

Max offer price $69,900

Occupancy floor 70%

Sensitivity live

Price	-10% $285	-5% $265	+0% $245	+5% $225	+10% $206
Rent	-10% $166	-5% $206	+0% $245	+5% $285	+10% $324
Rate	-1.0pp $280	-0.5pp $263	base $245	+0.5pp $227	+1.0pp $209

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: $17,475
• Closing costs: $2,097
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1925 Main St Peru, IL	2.0	1.0	840	$1,000	$1.19	46d	1	1.48mi

Listing history 19 events

1. 2026-06-22
   days on market $69,900 Active 129 DOM
2. 2026-06-19
   days on market $69,900 Active 126 DOM
3. 2026-06-18
   days on market $69,900 Active 125 DOM
4. 2026-06-17
   days on market $69,900 Active 124 DOM
5. 2026-06-16
   days on market $69,900 Active 123 DOM
6. 2026-06-15
   days on market $69,900 Active 122 DOM
7. 2026-06-14
   days on market $69,900 Active 120 DOM
8. 2026-06-12
   days on market $69,900 Active 119 DOM
9. 2026-06-09
   days on market $69,900 Active 116 DOM
10. 2026-06-08
    days on market $69,900 Active 115 DOM
11. 2026-06-07
    days on market $69,900 Active 114 DOM
12. 2026-06-02
    days on market $69,900 Active 109 DOM
13. 2026-06-01
    days on market $69,900 Active 108 DOM
14. 2026-05-31
    days on market $69,900 Active 107 DOM
15. 2026-05-30
    days on market $69,900 Active 106 DOM
16. 2026-05-21
    price $69,900
17. 2026-02-26
    status Active
18. 2026-02-26
    historical Contingent - Continue to Show
19. 2026-02-13
    listed $74,500 Active

ⓘ 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: $1,790 · $149/mo
• Projected year-2 tax: $1,790 · $149/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 2/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥104°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 0% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,000
• − Mortgage interest: −$3,915
• − Property taxes: −$1,790
• − Insurance: −$350
• − Repairs & maintenance: −$960
• − Management: −$960
• − Depreciation: −$2,033
• Taxable income: $1,992
• Est. tax owed @ 24.0%: −$478
• After-tax cash flow: $2,464/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: La Salle-Peru Twp Hsd 120
• NCES district ID: 1722110
• Math proficiency: 15% ▼ -11.00%
• Reading proficiency: 26% ▼ -11.00%
• Median HH income: $40,449
• Composite: 17.37/100
• National rank: #9070
• State rank: #427 of 620 in IL

Livability — LaSalle

• Score: 64/100
• State rank: #718
• US rank: #14579

Category grades

Amenities F Commute F Cost of living A+ Crime A+ Employment D+ Housing A+ Health & safety C- User ratings F

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: LaSalle, IL
• Population (ZIP): 10,312

Population outlook (LaSalle County) Hauer SSP2

• Today (2025): 107,080 people
• By 2030: 104,196 · -2.7%
• By 2040: 97,413 · -9.0%
• By 2050: 90,294 · -15.7%
• By 2075: 76,252 · -28.8%
• By 2100: 61,339 · -42.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (74%)
• Race & ethnicity: White 74% Hispanic / Latino 18% Two or more races 8% Black 5%
• Hispanic origin (detail): Mexican 18%
• Common ancestry: Romanian 9% Lithuanian 3% Scotch-Irish 1%
• Foreign-born: 6% · Canada
• Languages at home: 87% English-only · Spanish 10% German/W. Germanic 1% Other Indo-European 1%

Political lean MEDSL · LaSalle

• 2024 margin: R (+18.5) · D 40.1% · R 58.6% · Other 1.3%
• 2008→2024 swing: -29.6pp toward R · 2008: 11.1pp · 2024: -18.5pp
• All cycles: 2024: R+18.5 2020: R+14.3 2016: R+14.4 2012: R+0.4 2008: D+11.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -52.46%
• Current HPI: 163.091
• Rent YoY: —
• Metro: —
• 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

-6.2% since first listed

4 events — show timeline

• 2026-05-21 Price Changed $69,900 MRED as Distributed by MLS Grid
• 2026-02-26 Relisted — MRED as Distributed by MLS Grid
• 2026-02-26 Contingent — MRED as Distributed by MLS Grid
• 2026-02-13 Listed $74,500 MRED as Distributed by MLS Grid

Property tax history

+4.8%/yr

Latest (2024): $1,790 · +6.1% YoY. Source: county tax records.