201 W 3rd Ave · La Harpe, IL 61450

$132,000

3 bd · 2.0 ba · 1,914 sqft · SingleFamily · 68 Days on market

Built 2000 0.40 ac lot Est $115k · 15% over

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Why this score? — see what drove the D 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 +18.1/30.0
• Appreciation +6.1/10.0
• DSCR +5.7/10.0
• 1% rule +3.5/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0
• ARV discount +0.8/15.0

Listing remarks

Three bed, 2 bath, modular home built in 2000 on a large, shaded lot. This home features an open floor plan for plenty of space to entertain. The primary bed with full bath includes a soaker tub, separate shower, and walk in closet. The other two bedrooms are near the second full bath. The large kitchen has an island, natural lighting, and access to the back yard. The attached 2 car garage with cement parking pad in front completes the property. Call today for a tour!

Key facts

• 0.4 acre lot
• 2 garage spots
• Built 2000

Property features AI

Exterior

• Parking: Attached garage; 2-car garage; Parking pad
• Utilities: Public water; Public sewer
• Home design: Single family residence; Living area approximately 1914; Built in 2000
• Construction: Shingle roof; Crawl space foundation; Built in 2000
• Exterior features: Level lot; Paved road access; Shingle roof

Interior

• Kitchen: Kitchen with vinyl flooring; Includes dishwasher and refrigerator
• Bedrooms: 3 bedrooms; Primary bedroom on main level; Additional bedrooms on main level
• Flooring: Carpet in main living areas and bedrooms; Vinyl in kitchen
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central air conditioning; Forced air heating
• Interior features: Dishwasher; Dryer; Refrigerator; Washer; No fireplaces; Crawl space basement
• Laundry & utility: Washer and dryer included

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $132k.

Deal economics

• At list price, monthly cash flow is $116 ($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 $112k (14.9% below list).
• Recommended offer: $112k (14.9% below list) — sets the bar for 1% rule.

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: La Harpe Elementary School (math 24% / reading 15%, grade F, #1,043 of 2,056 statewide, top 51%, 200 students, 0% FRL); 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 $4k of equity ($913 loan paydown + $3k 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 $37k cash investment doubles in ~6 years — after that, you're playing with house money.
• By year 9, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 68 days — a 6% lower offer ($124k) is reasonable based on typical stale-listing flexibility.

Recommended offer $112,292 (14.9% below list)

Questions for the listing agent

1. It's been on market 68 days. Have you received any prior offers? Is the seller open to a 15% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
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: 0.85% ✗
• Cap rate: 7.35%
• Cash-on-cash: 3.77%
• DSCR: 1.17
• GRM: 9.8

CMA / ARV

• ARV (on-the-fly): $114,840
• Comps found: 5

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
308 W Archer Ave	0.35mi	3/2.0	1,946 (+2%)	12mo	$144,000	$74	71
103 W 1st Ave	0.16mi	3/2.0	1,712 (-11%)	10mo	$135,000	$79	67
405 N Center St	0.51mi	3/2.0	1,890 (-1%)	19mo	$15,000	$8	58
300 W 1st Ave	0.19mi	3/2.0	1,740 (-9%)	24mo	$77,500	$45	56
301 N Louise St	0.40mi	4/2.5 (+1)	2,064 (+8%)	10mo	$124,500	$60	53

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: 8.8%
• Equity multiple: 1.48×
• Total profit: $17,777
• Equity at exit: $53,548

10-year hold

• IRR: 11.8%
• Equity multiple: 2.62×
• Total profit: $59,849
• Equity at exit: $78,266

Cash invested: $36,960 (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: 9.8×

Monthly cashflow live

• Estimated rent: $1,123 medium
• Mortgage (P&I): −$692
• Tax from tax record: −$24 /mo · $284/yr
• Insurance: −$55
• HOA: −$0
• Vacancy / Maint / Mgmt: −$236
• Net cashflow: $116

Break-even live

Break-even rent $976

Max offer price $132,000

Occupancy floor 85%

Sensitivity live

Price	-10% $191	-5% $154	+0% $116	+5% $79	+10% $-116
Rent	-10% $28	-5% $72	+0% $116	+5% $161	+10% $205
Rate	-1.0pp $183	-0.5pp $150	base $116	+0.5pp $82	+1.0pp $47

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: $33,000
• Closing costs: $3,960
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-19
   days on market $132,000 Active 68 DOM
2. 2026-06-18
   days on market $132,000 Active 67 DOM
3. 2026-06-17
   days on market $132,000 Active 66 DOM
4. 2026-06-16
   days on market $132,000 Active 65 DOM
5. 2026-06-15
   days on market $132,000 Active 64 DOM
6. 2026-06-14
   days on market $132,000 Active 62 DOM
7. 2026-06-12
   days on market $132,000 Active 61 DOM
8. 2026-06-09
   days on market $132,000 Active 58 DOM
9. 2026-06-08
   days on market $132,000 Active 57 DOM
10. 2026-06-07
    days on market $132,000 Active 56 DOM
11. 2026-06-07
    days on market $132,000 Active 55 DOM
12. 2026-06-03
    days on market $132,000 Active 52 DOM
13. 2026-06-02
    days on market $132,000 Active 51 DOM
14. 2026-06-01
    days on market $132,000 Active 50 DOM
15. 2026-05-31
    days on market $132,000 Active 49 DOM
16. 2026-05-30
    days on market $132,000 Active 48 DOM
17. 2026-04-12
    listed $132,000 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: $284 · $24/mo
• Projected year-2 tax: $1,640 · $137/mo
• Expected delta: +$1,356/yr (+$113/mo · 477.6%)

ⓘ 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: $13,475
• − Mortgage interest: −$7,394
• − Property taxes: −$284
• − Insurance: −$660
• − Repairs & maintenance: −$1,078
• − Management: −$1,078
• − Depreciation: −$3,840
• Taxable loss: −$859
• Est. tax savings @ 24.0%: +$206
• After-tax cash flow: $1,601/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

1 event — show timeline

• 2026-04-12 Listed $132,000 RMLSA as Distributed by MLS Grid

Property tax history

-6.7%/yr

Latest (2024): $284 · +3.7% YoY. Source: county tax records.