105 W 3rd Ave · La Harpe, IL 61450

$45,000

2 bd · 1.0 ba · 1,235 sqft · SingleFamily · 337 Days on market

Built 1920 10,019 sqft lot Est $74k · 39% under

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Why this score? — see what drove the A- 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 +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +6.1/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0

Listing remarks MLS

For sale is a quaint, one and a half story house located in LaHarpe. This 2-bedroon, 1-bathroom house includes a detached 2-car garage and large back yard. The upstairs bedroom is very charming and spacious. The enclosed front porch is a plus. The house is on a crawl space making the laundry/utility room conveniently located near the kitchen and bathroom. The house is economical, with blown in attic insulation and new, high efficiency heating and cooling in 2023. Come check out this practical and affordable property.

Key facts

• Crawl space
• Laundry utility room
• Large back yard

Tags

• DETACHED 2-CAR GARAGE
• LARGE BACK YARD
• ENCLOSED FRONT PORCH
• CRAWL SPACE
• LAUNDRY UTILITY ROOM
• BLOWN IN ATTIC INSULATION

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $45k.

Deal economics

• At list price, monthly cash flow is $492 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $45k).
• Recommended offer: $40k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 65/100 on livability (#657 in IL) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: health & safety C-, amenities F, commute F.
• Illini West H S District 307 (town): math 25% / reading 25% proficiency, ranked #611 of 919 in IL (top 66%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Illini West High School (math 17% / reading 27%, grade F, #319 of 693 statewide, top 50%, 342 students, 0% FRL).
• Market conditions: 13 active listings in the ZIP.

Forward outlook

• In year one you build about $1k of equity ($311 loan paydown + $993 appreciation (2.2% local appreciation)).
• Hancock County population projected at -30% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (2.2% appreciation + 3.0% rent growth), your $13k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 337 days — a 12% lower offer ($40k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $39,600 (12.0% below list)

Questions for the listing agent

1. It's been on market 337 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 1920 — 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: 2.34% ✓
• Cap rate: 19.41%
• Cash-on-cash: 46.84%
• DSCR: 3.08
• GRM: 3.6

CMA / ARV

• ARV (on-the-fly): $74,100
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
500 E Archer Ave	0.49mi	2/1.0	1,220 (-1%)	23mo	$55,000	$45	56
207 N 1st St	0.41mi	3/1.0 (+1)	1,394 (+13%)	9mo	$84,000	$60	47

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

2.21% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 51.1%
• Equity multiple: 3.77×
• Total profit: $34,920
• Equity at exit: $18,255

10-year hold

• IRR: 51.5%
• Equity multiple: 7.58×
• Total profit: $82,852
• Equity at exit: $26,682

Cash invested: $12,600 (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 61450

• Home prices YoY: 1.5%
• Active inventory: 13
• Price-to-rent: 3.6×

Monthly cashflow live

• Estimated rent: $1,051 medium
• Mortgage (P&I): −$236
• Tax from tax record: −$84 /mo · $1,006/yr
• Insurance: −$19
• HOA: −$0
• Vacancy / Maint / Mgmt: −$221
• Net cashflow: $492

Break-even live

Break-even rent $429

Max offer price $45,000

Occupancy floor 48%

Sensitivity live

Price	-10% $517	-5% $505	+0% $492	+5% $479	+10% $466
Rent	-10% $409	-5% $450	+0% $492	+5% $533	+10% $575
Rate	-1.0pp $515	-0.5pp $503	base $492	+0.5pp $480	+1.0pp $468

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: $11,250
• Closing costs: $1,350
• Reserves months: —
• Total cash needed: —

Listing history 20 events

1. 2026-06-19
   days on market $45,000 Active 337 DOM
2. 2026-06-18
   days on market $45,000 Active 336 DOM
3. 2026-06-17
   days on market $45,000 Active 335 DOM
4. 2026-06-16
   days on market $45,000 Active 334 DOM
5. 2026-06-15
   days on market $45,000 Active 333 DOM
6. 2026-06-14
   days on market $45,000 Active 331 DOM
7. 2026-06-12
   days on market $45,000 Active 330 DOM
8. 2026-06-09
   days on market $45,000 Active 327 DOM
9. 2026-06-08
   days on market $45,000 Active 326 DOM
10. 2026-06-07
    days on market $45,000 Active 325 DOM
11. 2026-06-07
    days on market $45,000 Active 324 DOM
12. 2026-06-03
    days on market $45,000 Active 321 DOM
13. 2026-06-02
    days on market $45,000 Active 320 DOM
14. 2026-06-01
    days on market $45,000 Active 319 DOM
15. 2026-05-31
    days on market $45,000 Active 318 DOM
16. 2026-05-30
    days on market $45,000 Active 317 DOM
17. 2026-04-24
    status Pending
18. 2025-07-17
    listed $45,000 Active 522-char remark

    Show marketing remark (522 chars)

    For sale is a quaint, one and a half story house located in LaHarpe. This 2-bedroon, 1-bathroom house includes a detached 2-car garage and large back yard. The upstairs bedroom is very charming and spacious. The enclosed front porch is a plus. The house is on a crawl space making the laundry/utility room conveniently located near the kitchen and bathroom. The house is economical, with blown in attic insulation and new, high efficiency heating and cooling in 2023. Come check out this practical and affordable property.

19. 2025-07-17
    listed $45,000 Active

    Show marketing remark (522 chars)

    For sale is a quaint, one and a half story house located in LaHarpe. This 2-bedroon, 1-bathroom house includes a detached 2-car garage and large back yard. The upstairs bedroom is very charming and spacious. The enclosed front porch is a plus. The house is on a crawl space making the laundry/utility room conveniently located near the kitchen and bathroom. The house is economical, with blown in attic insulation and new, high efficiency heating and cooling in 2023. Come check out this practical and affordable property.

20. 2017-06-13
    soldstatus $40,000

ⓘ 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: $1,006 · $84/mo
• Projected year-2 tax: $1,014 · $84/mo
• Expected delta: +$8/yr (+$1/mo · 0.8%)

ⓘ 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 ≥106°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,614
• − Mortgage interest: −$2,521
• − Property taxes: −$1,006
• − Insurance: −$225
• − Repairs & maintenance: −$1,009
• − Management: −$1,009
• − Depreciation: −$1,309
• Taxable income: $5,535
• Est. tax owed @ 24.0%: −$1,328
• After-tax cash flow: $4,574/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: Illini West H S District 307
• NCES district ID: 1701384
• Math proficiency: 25% ▲ 5.00%
• Reading proficiency: 25% ▲ 5.00%
• Median HH income: $47,745
• Composite: 24.88/100
• National rank: #12997
• State rank: #611 of 919 in IL

Livability — La Harpe

• Score: 65/100
• State rank: #657
• US rank: #13488

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: La Harpe, IL
• Population (ZIP): 1,617

Population outlook (Hancock County) Hauer SSP2

• Today (2025): 17,042 people
• By 2030: 16,056 · -5.8%
• By 2040: 13,912 · -18.4%
• By 2050: 11,879 · -30.3%
• By 2075: 8,302 · -51.3%
• By 2100: 5,846 · -65.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (95%)
• Race & ethnicity: White 95% Two or more races 3% Hispanic / Latino 2%
• Common ancestry: Lithuanian 3% Slovak 2% Iranian 2%
• Foreign-born: 0%
• Languages at home: 99% English-only · Spanish 1%

Political lean MEDSL · Hancock

• 2024 margin: Solid R (+50.0) · D 24.1% · R 74.1% · Other 1.8%
• 2008→2024 swing: -39.2pp toward R · 2008: -10.8pp · 2024: -50.0pp
• All cycles: 2024: R+50.0 2020: R+48.9 2016: R+50.8 2012: R+19.0 2008: R+10.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 2.21%
• Current HPI: 153.6282
• 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

+12.5% since first listed

4 events — show timeline

• 2026-04-24 Pending — MRED as Distributed by MLS Grid
• 2025-07-17 Listed $45,000 Quincy AOR
• 2025-07-17 Listed $45,000 MRED as Distributed by MLS Grid
• 2017-06-13 Sold (Public Records) $40,000 Public Records

Property tax history

+0.1%/yr

Latest (2023): $1,006 · +11.1% YoY. Source: county tax records.