1956 Lasalle St · Ottawa, IL 61350

$129,000

2 bd · 1.0 ba · 1,144 sqft · SingleFamily public records · 144 Days on market

Built 1865 10,454 sqft lot Est $140k · 8% under

---

Why this score? — see what drove the C+ 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 +26.2/30.0
• ARV discount +10.9/15.0
• DSCR +8.9/10.0
• 1% rule +6.8/10.0
• 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

Charming historic 2-bedroom, 1-bath home built circa 1860, offering timeless character and unique architectural details throughout. This vacant residence features beautiful arched doorways, tall ceilings, original wood elements, and spacious living areas filled with natural light. The functional kitchen offers ample cabinet space and flows easily into the main living areas, creating a comfortable and flexible layout. The exterior showcases classic brick construction with distinctive green trim, a covered front porch, and mature trees that enhance curb appeal. Situated on a double parcel with two PINs, the property offers exceptional flexibility for future expansion, outdoor space, or investment potential. Conveniently located in Ottawa, this home presents a great opportunity for buyers seeking character, space, and long-term potential.

Key facts

• Functional kitchen
• Tall ceilings
• Arched doorways

Tags

• ARCHED DOORWAYS
• TALL CEILINGS
• ORIGINAL WOOD ELEMENTS
• SPACIOUS LIVING AREAS
• FUNCTIONAL KITCHEN
• AMPLE CABINET SPACE

Property features AI

Finance

• Other: Parcel numbers on record: 2102401001 and 2102401034
• HOA & community: No master association fee required

Exterior

• Parking: Detached garage; 4 total parking spaces (1 garage space)
• Utilities: Public water; Public sewer
• Home design: Detached single-family home; One-story; Fee simple ownership; Property is over 100 years old; Built before 1978
• Construction: Brick construction
• Exterior features: Lot approximately 65 x 236; Lot size roughly 0.25–0.49 acre; Interstate access

Interior

• Kitchen: Kitchen on main level (approx. 14 x 11)
• Bedrooms: Master bedroom on main level (approx. 13 x 13); Second bedroom on main level (approx. 13 x 10); Additional bedrooms listed
• Bathrooms: One full bathroom (on first floor)
• Heating & cooling: Natural gas heating; Central air conditioning
• Interior features: First-floor bedroom; First-floor full bathroom; Full, unfinished basement; 5 total rooms
• Laundry & utility: Laundry room

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $129k.

Deal economics

• At list price, monthly cash flow is $330 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $129k).
• Recommended offer: $114k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.4% 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: 205 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 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 $892 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 $36k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 144 days — a 12% lower offer ($114k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts; this cycle's ask has dropped $28k (18%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $32k; list at $129k implies a 297% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1865 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $113,520 (12.0% below list)

Questions for the listing agent

1. It's been on market 144 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 1865 — 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: 1.18% ✓
• Cap rate: 9.36%
• Cash-on-cash: 10.97%
• DSCR: 1.49
• GRM: 7.0

CMA / ARV

• ARV (on-the-fly): $139,568
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1913 Columbus St	0.13mi	3/1.0 (+1)	1,164 (+2%)	8mo	$130,000	$112	80
1517 Lasalle St	0.36mi	3/1.0 (+1)	1,230 (+8%)	3mo	$150,000	$122	63
1627 Sycamore St	0.47mi	2/2.0	1,112 (-3%)	13mo	$150,500	$135	59
1116 Chestnut St	0.71mi	2/1.0	1,096 (-4%)	2mo	$120,000	$109	58
256 Linwood Ave	0.11mi	3/1.0 (+1)	1,296 (+13%)	14mo	$170,000	$131	56
607 E Joliet St	0.68mi	3/1.5 (+1)	1,200 (+5%)	3mo	$144,000	$120	51
1524 Pine St	0.56mi	3/1.0 (+1)	1,220 (+7%)	12mo	$104,000	$85	48
565 E Norris Dr	0.61mi	3/2.0 (+1)	1,253 (+10%)	2mo	$175,000	$140	45
2103 Franklin Ave	0.73mi	2/1.0	1,008 (-12%)	3mo	$70,100	$70	44
2206 Caton Rd	0.49mi	3/1.0 (+1)	1,300 (+14%)	10mo	$226,000	$174	41
522 E Superior St	0.73mi	3/2.0 (+1)	1,288 (+13%)	2mo	$94,000	$73	34
1125 Guion St	0.71mi	3/2.0 (+1)	1,300 (+14%)	14mo	$189,500	$146	24

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: 0.1%
• Equity multiple: 1.00×
• Total profit: $142
• Equity at exit: $19,234

10-year hold

• IRR: 9.8%
• Equity multiple: 1.75×
• Total profit: $27,258
• Equity at exit: $11,154

Cash invested: $36,120 (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: 205
• Price-to-rent: 7.0×

Monthly cashflow live

• Estimated rent: $1,526 medium
• Mortgage (P&I): −$676
• Tax from tax record: −$145 /mo · $1,740/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$320
• Net cashflow: $330

Break-even live

Break-even rent $1,108

Max offer price $129,000

Occupancy floor 73%

Sensitivity live

Price	-10% $403	-5% $367	+0% $330	+5% $294	+10% $257
Rent	-10% $210	-5% $270	+0% $330	+5% $390	+10% $451
Rate	-1.0pp $395	-0.5pp $363	base $330	+0.5pp $297	+1.0pp $263

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: $32,250
• Closing costs: $3,870
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
224 1/2 W Madison St Ottawa, IL	1.0	1.0	950	$1,600	$1.68	19d	1	0.97mi

Listing history 26 events

1. 2026-06-19
   days on market $129,000 Active 144 DOM
2. 2026-06-18
   days on market $129,000 Active 143 DOM
3. 2026-06-17
   days on market $129,000 Active 142 DOM
4. 2026-06-16
   days on market $129,000 Active 141 DOM
5. 2026-06-16
   days on marketlisting id $129,000 Active 140 DOM
6. 2026-06-15
   days on market $129,000 Active 139 DOM
7. 2026-06-14
   days on market $129,000 Active 137 DOM
8. 2026-06-12
   days on market $129,000 Active 136 DOM
9. 2026-06-09
   days on market $129,000 Active 133 DOM
10. 2026-06-08
    days on market $129,000 Active 132 DOM
11. 2026-06-07
    days on market $129,000 Active 131 DOM
12. 2026-06-05
    days on market $129,000 Active 128 DOM
13. 2026-06-02
    days on market $129,000 Active 126 DOM
14. 2026-06-01
    days on market $129,000 Active 125 DOM
15. 2026-05-31
    days on market $129,000 Active 124 DOM
16. 2026-05-30
    days on market $129,000 Active 123 DOM
17. 2026-05-21
    price $129,000 847-char remark

    Show marketing remark (847 chars)

    Charming historic 2-bedroom, 1-bath home built circa 1860, offering timeless character and unique architectural details throughout. This vacant residence features beautiful arched doorways, tall ceilings, original wood elements, and spacious living areas filled with natural light. The functional kitchen offers ample cabinet space and flows easily into the main living areas, creating a comfortable and flexible layout. The exterior showcases classic brick construction with distinctive green trim, a covered front porch, and mature trees that enhance curb appeal. Situated on a double parcel with two PINs, the property offers exceptional flexibility for future expansion, outdoor space, or investment potential. Conveniently located in Ottawa, this home presents a great opportunity for buyers seeking character, space, and long-term potential.

18. 2026-05-21
    price $129,000

    Show marketing remark (847 chars)

    Charming historic 2-bedroom, 1-bath home built circa 1860, offering timeless character and unique architectural details throughout. This vacant residence features beautiful arched doorways, tall ceilings, original wood elements, and spacious living areas filled with natural light. The functional kitchen offers ample cabinet space and flows easily into the main living areas, creating a comfortable and flexible layout. The exterior showcases classic brick construction with distinctive green trim, a covered front porch, and mature trees that enhance curb appeal. Situated on a double parcel with two PINs, the property offers exceptional flexibility for future expansion, outdoor space, or investment potential. Conveniently located in Ottawa, this home presents a great opportunity for buyers seeking character, space, and long-term potential.

19. 2026-05-20
    price $139,000 847-char remark

    Show marketing remark (847 chars)

    Charming historic 2-bedroom, 1-bath home built circa 1860, offering timeless character and unique architectural details throughout. This vacant residence features beautiful arched doorways, tall ceilings, original wood elements, and spacious living areas filled with natural light. The functional kitchen offers ample cabinet space and flows easily into the main living areas, creating a comfortable and flexible layout. The exterior showcases classic brick construction with distinctive green trim, a covered front porch, and mature trees that enhance curb appeal. Situated on a double parcel with two PINs, the property offers exceptional flexibility for future expansion, outdoor space, or investment potential. Conveniently located in Ottawa, this home presents a great opportunity for buyers seeking character, space, and long-term potential.

20. 2026-05-20
    price $139,000

    Show marketing remark (847 chars)

    Charming historic 2-bedroom, 1-bath home built circa 1860, offering timeless character and unique architectural details throughout. This vacant residence features beautiful arched doorways, tall ceilings, original wood elements, and spacious living areas filled with natural light. The functional kitchen offers ample cabinet space and flows easily into the main living areas, creating a comfortable and flexible layout. The exterior showcases classic brick construction with distinctive green trim, a covered front porch, and mature trees that enhance curb appeal. Situated on a double parcel with two PINs, the property offers exceptional flexibility for future expansion, outdoor space, or investment potential. Conveniently located in Ottawa, this home presents a great opportunity for buyers seeking character, space, and long-term potential.

21. 2026-04-23
    price $149,900 847-char remark

    Show marketing remark (847 chars)

    Charming historic 2-bedroom, 1-bath home built circa 1860, offering timeless character and unique architectural details throughout. This vacant residence features beautiful arched doorways, tall ceilings, original wood elements, and spacious living areas filled with natural light. The functional kitchen offers ample cabinet space and flows easily into the main living areas, creating a comfortable and flexible layout. The exterior showcases classic brick construction with distinctive green trim, a covered front porch, and mature trees that enhance curb appeal. Situated on a double parcel with two PINs, the property offers exceptional flexibility for future expansion, outdoor space, or investment potential. Conveniently located in Ottawa, this home presents a great opportunity for buyers seeking character, space, and long-term potential.

22. 2026-04-23
    price $149,900

    Show marketing remark (847 chars)

    Charming historic 2-bedroom, 1-bath home built circa 1860, offering timeless character and unique architectural details throughout. This vacant residence features beautiful arched doorways, tall ceilings, original wood elements, and spacious living areas filled with natural light. The functional kitchen offers ample cabinet space and flows easily into the main living areas, creating a comfortable and flexible layout. The exterior showcases classic brick construction with distinctive green trim, a covered front porch, and mature trees that enhance curb appeal. Situated on a double parcel with two PINs, the property offers exceptional flexibility for future expansion, outdoor space, or investment potential. Conveniently located in Ottawa, this home presents a great opportunity for buyers seeking character, space, and long-term potential.

23. 2026-01-26
    listed $157,000 Active 847-char remark

    Show marketing remark (847 chars)

    Charming historic 2-bedroom, 1-bath home built circa 1860, offering timeless character and unique architectural details throughout. This vacant residence features beautiful arched doorways, tall ceilings, original wood elements, and spacious living areas filled with natural light. The functional kitchen offers ample cabinet space and flows easily into the main living areas, creating a comfortable and flexible layout. The exterior showcases classic brick construction with distinctive green trim, a covered front porch, and mature trees that enhance curb appeal. Situated on a double parcel with two PINs, the property offers exceptional flexibility for future expansion, outdoor space, or investment potential. Conveniently located in Ottawa, this home presents a great opportunity for buyers seeking character, space, and long-term potential.

24. 2026-01-26
    listed $157,000 Active

    Show marketing remark (847 chars)

    Charming historic 2-bedroom, 1-bath home built circa 1860, offering timeless character and unique architectural details throughout. This vacant residence features beautiful arched doorways, tall ceilings, original wood elements, and spacious living areas filled with natural light. The functional kitchen offers ample cabinet space and flows easily into the main living areas, creating a comfortable and flexible layout. The exterior showcases classic brick construction with distinctive green trim, a covered front porch, and mature trees that enhance curb appeal. Situated on a double parcel with two PINs, the property offers exceptional flexibility for future expansion, outdoor space, or investment potential. Conveniently located in Ottawa, this home presents a great opportunity for buyers seeking character, space, and long-term potential.

25. 2025-11-24
    listed $1,500
26. 1997-08-01
    soldstatus $32,500

ⓘ 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: $1,740 · $145/mo
• Projected year-2 tax: $2,334 · $195/mo
• Expected delta: +$594/yr (+$50/mo · 34.2%)

ⓘ 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 ≥103°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: $18,311
• − Mortgage interest: −$7,226
• − Property taxes: −$1,740
• − Insurance: −$645
• − Repairs & maintenance: −$1,465
• − Management: −$1,465
• − Depreciation: −$3,753
• Taxable income: $2,017
• Est. tax owed @ 24.0%: −$484
• After-tax cash flow: $3,479/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

+296.9% since first listed

10 events — show timeline

• 2026-05-21 Price Changed $129,000 NWIAR
• 2026-05-21 Price Changed $129,000 MRED as Distributed by MLS Grid
• 2026-05-20 Price Changed $139,000 NWIAR
• 2026-05-20 Price Changed $139,000 MRED as Distributed by MLS Grid
• 2026-04-23 Price Changed $149,900 NWIAR
• 2026-04-23 Price Changed $149,900 MRED as Distributed by MLS Grid
• 2026-01-26 Listed $157,000 NWIAR
• 2026-01-26 Listed $157,000 MRED as Distributed by MLS Grid
• 2025-11-24 Listed for Rent $1,500 REDFIN
• 1997-08-01 Sold (Public Records) $32,500 Public Records

Property tax history

+1.4%/yr

Latest (2024): $1,740 · +14.0% YoY. Source: county tax records.