1915 9th St

Peru, IL 61354

$157,900D+

2 bd · 1.5 ba · 1,314 sqft · Built 1895 · SingleFamily · Active · 13 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,450/mo
• Mortgage (P&I): −$828
• Tax + insurance: −$223
• HOA: −$0
• Vac / Maint / Mgmt: −$304
• Net cashflow: $95/mo
• Annual: $1,139/yr
• Cap rate: 7.01%
• Cash-on-cash: 2.58%
• DSCR: 1.11
• 1% rule: 0.92%
• Cash to close: $44,212

Investor read

• This is a 2-bed/1.5-bath single-family listed at $158k.
• At list price, monthly cash flow is $95 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $145k (8.2% below list).
• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $145k (8.2% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Location reads 70/100 on livability (#383 in IL) — a middle-class / working-renter tenant base. Strengths: 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: Northview Elem School (math 27% / reading 32%, grade F, #658 of 2,056 statewide, top 35%, 575 students, 0% FRL); Parkside Middle School (math 17% / reading 29%, grade F, #377 of 665 statewide, top 58%, 368 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).
• Watch-outs: built in 1895 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 51 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).
• LaSalle County population projected at -16% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Questions for listing agent

• Built in 1895 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
• 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.
• 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.
• 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.