1862 N 2753rd Rd · Ottawa, IL 61350

$140,000

3 bd · 1.0 ba · 2,072 sqft · SingleFamily public records · 132 Days on market

Built 1969 0.57 ac lot

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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 +29.6/30.0
• DSCR +10.0/10.0
• 1% rule +7.7/10.0
• ARV discount +7.5/15.0
• Livability +3.9/5.0
• Schools +2.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Rutland School District. There are 2 homes are on one lot. There is an additional 200'x41.58' south adjacent lot. The 2 lots together make a total land area of . 55 Acres. There is a 790 square foot 2 bedroom home above a 3 car garage. Currently rented for $450 per month. The tenant has been there for over 30 years. The fair market rent should be closer to $600 per month. The ranch home is incomplete. Rooms and sizes are listed above. It has a 1 car attached garage. Note: The taxes reflect PIN 154322700 and half of 1907413000.

Key facts

• Total land area
• Fair market rent
• Additional lot

Tags

• RUTLAND SCHOOL DISTRICT
• ADDITIONAL LOT
• TOTAL LAND AREA
• RENTED FOR $450
• TENANT FOR OVER 30 YEARS
• FAIR MARKET RENT

Property features AI

Finance

• Other: Living area measured/taped
• HOA & community: No master association fee required

Exterior

• Parking: Attached garage; 3 garage spaces; Total of 9 parking spaces
• Utilities: Well water; Septic tank
• Home design: Detached single-family home; One-story; Fee simple ownership; Built before 1978
• Construction: Frame construction
• Exterior features: Half-acre lot (approx. 0.50–0.99 acre); Lot dimensions: 200 x 81 x 178 x 124; School bus service

Interior

• Kitchen: Kitchen on the main level (approx. 10 x 22)
• Bedrooms: 3 bedrooms (all on the main level); Master bedroom on the main level (approximately 10 x 13); Bedroom — main level (approximately 10 x 12); Bedroom — main level (approximately 9 x 10)
• Bathrooms: 1 full bathroom
• Heating & cooling: Natural gas heating
• Interior features: Six total rooms; Crawl space basement
• Laundry & utility: Laundry room

🏷️ Possibly a rental listed for sale. The $140,000 price doesn't fit this home's estimated sale value (~$561,512) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $140k.

Deal economics

• At list price, monthly cash flow is $504 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $140k).
• Recommended offer: $123k (12.0% below list) — sets the bar for market timing.
• Cap rate 10.6% vs local median 3.1% in Ottawa — 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 77/100 on livability (#172 in IL, #3,175 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing A; Watch: employment C-, amenities D, commute F.
• Ottawa Twp Hsd 140 (town): math 25% / reading 30% proficiency, ranked #545 of 919 in IL (top 59%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Ottawa Township High School (math 17% / reading 27%, grade F, #319 of 693 statewide, top 50%, 1,261 students, 0% FRL).
• Market conditions: 208 active listings in the ZIP; solid renter incomes; 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 $968 of loan paydown is wiped out by about $4k 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 $39k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 132 days — a 12% lower offer ($123k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 19y 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 $140k implies a 833% gain — meaningful room to come down on a strong offer.

Recommended offer $123,200 (12.0% below list)

Questions for the listing agent

1. It's been on market 132 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 1969 — 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 D-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. 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.
7. 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.
8. 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: 1.27% ✓
• Cap rate: 10.62%
• Cash-on-cash: 15.44%
• DSCR: 1.69
• GRM: 6.5

CMA / ARV

• ARV (on-the-fly): $561,512
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
9 Windward Way	0.72mi	3/3.0	2,160 (+4%)	8mo	$585,000	$271	44

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: 6.2%
• Equity multiple: 1.24×
• Total profit: $9,431
• Equity at exit: $20,874

10-year hold

• IRR: 15.6%
• Equity multiple: 2.26×
• Total profit: $49,533
• Equity at exit: $12,105

Cash invested: $39,200 (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 61350

• Home prices YoY: -31.5%
• Active inventory: 208
• Price-to-rent: 6.5×

Monthly cashflow live

• Estimated rent: $1,782 medium
• Mortgage (P&I): −$734
• Tax from tax record: −$111 /mo · $1,331/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$374
• Net cashflow: $504

Break-even live

Break-even rent $1,144

Max offer price $140,000

Occupancy floor 67%

Sensitivity live

Price	-10% $584	-5% $544	+0% $504	+5% $465	+10% $425
Rent	-10% $364	-5% $434	+0% $504	+5% $575	+10% $645
Rate	-1.0pp $575	-0.5pp $540	base $504	+0.5pp $468	+1.0pp $431

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: $35,000
• Closing costs: $4,200
• Reserves months: —
• Total cash needed: —

Listing history 22 events

1. 2026-06-21
   days on market $140,000 Active 132 DOM
2. 2026-06-19
   days on market $140,000 Active 130 DOM
3. 2026-06-18
   days on market $140,000 Active 129 DOM
4. 2026-06-17
   days on market $140,000 Active 128 DOM
5. 2026-06-16
   days on market $140,000 Active 127 DOM
6. 2026-06-16
   days on marketlisting id $140,000 Active 126 DOM
7. 2026-06-15
   days on market $140,000 Active 132 DOM
8. 2026-06-14
   days on market $140,000 Active 130 DOM
9. 2026-06-12
   days on market $140,000 Active 129 DOM
10. 2026-06-09
    days on market $140,000 Active 126 DOM
11. 2026-06-08
    days on market $140,000 Active 125 DOM
12. 2026-06-07
    days on market $140,000 Active 124 DOM
13. 2026-06-05
    days on market $140,000 Active 121 DOM
14. 2026-06-02
    days on market $140,000 Active 119 DOM
15. 2026-06-01
    days on market $140,000 Active 118 DOM
16. 2026-05-31
    days on market $140,000 Active 117 DOM
17. 2026-05-30
    days on market $140,000 Active 116 DOM
18. 2026-02-09
    listed $140,000 Active 533-char remark

    Show marketing remark (533 chars)

    Rutland School District. There are 2 homes are on one lot. There is an additional 200'x41.58' south adjacent lot. The 2 lots together make a total land area of . 55 Acres. There is a 790 square foot 2 bedroom home above a 3 car garage. Currently rented for $450 per month. The tenant has been there for over 30 years. The fair market rent should be closer to $600 per month. The ranch home is incomplete. Rooms and sizes are listed above. It has a 1 car attached garage. Note: The taxes reflect PIN 154322700 and half of 1907413000.

19. 2026-02-03
    listed $140,000 Active
20. 2008-06-24
    historical
21. 2007-11-14
    listed
22. 2004-02-03
    soldstatus $15,000

ⓘ 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: $1,331 · $111/mo
• Projected year-2 tax: $2,254 · $188/mo
• Expected delta: +$924/yr (+$77/mo · 69.4%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥102°F today · 17 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,385
• − Mortgage interest: −$7,842
• − Property taxes: −$1,331
• − Insurance: −$700
• − Repairs & maintenance: −$1,711
• − Management: −$1,711
• − Depreciation: −$4,073
• Taxable income: $4,018
• Est. tax owed @ 24.0%: −$964
• After-tax cash flow: $5,089/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: Ottawa Twp Hsd 140
• NCES district ID: 1730330
• Math proficiency: 25% ▼ -3.00%
• Reading proficiency: 30% ▼ -4.00%
• Median HH income: $47,828
• Composite: 26.85/100
• National rank: #12528
• State rank: #545 of 919 in IL

Livability — Ottawa

• Score: 77/100
• State rank: #172
• US rank: #3175

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Ottawa, IL
• County: La Salle County · 41,676 people
• City population: 23,713
• Metro: Ottawa, IL
• Population (ZIP): 23,713
• Household income: $77,921
• Rent vs Own: 25.9% rent · 74.1% own
• Severe rent burden: 628.0

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 (85%)
• Race & ethnicity: White 85% Hispanic / Latino 9% Two or more races 4% Black 2%
• Hispanic origin (detail): Mexican 7%
• Common ancestry: Romanian 6% Portuguese 5% Lithuanian 2%
• Foreign-born: 2% · Canada
• Languages at home: 95% English-only · Spanish 3%

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: ▼ -84.46%
• Current HPI: 183.6833
• Rent YoY: —
• Metro: Ottawa, IL
• 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

+833.3% since first listed

5 events — show timeline

• 2026-02-09 Listed $140,000 NWIAR
• 2026-02-03 Listed $140,000 MRED as Distributed by MLS Grid
• 2008-06-24 Listing Removed — MRED as Distributed by MLS Grid
• 2007-11-14 Listed — MRED as Distributed by MLS Grid
• 2004-02-03 Sold (Public Records) $15,000 Public Records

Property tax history

-9.3%/yr

Latest (2024): $1,331 · +8.8% YoY. Source: county tax records.