1607 Prospect Ave · LaSalle, IL 61301

$120,000

3 bd · 2.0 ba · 1,468 sqft · SingleFamily public records · 33 Days on market

Built 1950 4,792 sqft lot Est $134k · 10% under ↓ 11% since listing

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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 +15.8/30.0
• ARV discount +12.1/15.0
• 1% rule +5.3/10.0
• DSCR +4.9/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.7/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Spacious home with 3 large bedrooms & 2 full baths in a great location, walking distance to the park with pool, schools and a convenience store! Main level features the primary bedroom with 2 walk-in closets, a 2nd bedroom with a full bath with access for both, separate dining room, and kitchen leading to a back porch and deck. Hardwood is potentially under the carpet on the main level. Upstairs you will find a large finished dormer with an 11x25 bedroom and an adjacent full bathroom. The basement includes workshop space, cabinets for storage and a walk-in shower. New water heater (2025), electric recently updated, furnace 6 years old, plus a detached one car garage and garden shed. Appliances are not warranted as they have not been used in over a year. New electric wiring, outlets & circuit breaker recently installed. This home has a lot of potential.

Key facts

• Workshop space
• Finished dormer
• Separate dining room

Tags

• WALKING DISTANCE TO PARK
• SEPARATE DINING ROOM
• BACK PORCH
• FINISHED DORMER
• WORKSHOP SPACE
• GARDEN SHED

Property features AI

Finance

• Other: School bus service available
• HOA & community: No master association fee required

Exterior

• Parking: Total of 4 parking spaces; Detached garage (garage owned); Driveway with concrete surfaces
• Utilities: Public water; Public sewer; Electric service with fuses
• Home design: Detached single-family home; One-story layout; Fee simple ownership; Built before 1978
• Construction: Cedar and frame construction; Asphalt roof; Block foundation
• Exterior features: Deck; Porch; Lot approximately 50 x 100 (less than 0.25 acre)

Interior

• Kitchen: Range; Refrigerator; Eating area / table space
• Bedrooms: 3 bedrooms total; Bedroom on main level (approx. 10 x 12, carpet); Bedroom in attic (approx. 11 x 25, carpet); Master bedroom on main level (approx. 12 x 16, hardwood)
• Flooring: Hardwood flooring; Carpet in several rooms; Vinyl in kitchen
• Bathrooms: 2 full bathrooms
• Heating & cooling: Natural gas heating; Forced air; Heat pump; Window air conditioning units
• Interior features: First-floor bedroom; First-floor full bathroom; Walk-in closet(s); Separate dining room; Unfinished/partial basement with crawl space; Finished dormer attic
• Laundry & utility: Laundry room

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $120k.

Deal economics

• At list price, monthly cash flow is $54 ($649/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $120k).
• Recommended offer: $116k (3.0% below list) — sets the bar for market timing.
• Cap rate 6.8% vs local median 5.6% in LaSalle — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

Location & tenants

• Location reads 64/100 on livability (#718 in IL) — a middle-class / working-renter tenant base. Strengths: crime A+, 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: Northwest Elem School (math 4% / reading 18%, grade F, #1,460 of 2,056 statewide, top 72%, 634 students, 0% FRL); Lincoln Jr High School (math 4% / reading 11%, grade F, #612 of 665 statewide, top 93%, 258 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).
• Market conditions: 69 active listings in the ZIP; 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 $830 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.

Negotiation context

• It's been on market 33 days — a 3% lower offer ($116k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts; this cycle's ask has dropped $15k (11%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $116,400 (3.0% below list)

Questions for the listing agent

1. It's been on market 33 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are F-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: 1.03% ✓
• Cap rate: 6.83%
• Cash-on-cash: 1.93%
• DSCR: 1.09
• GRM: 8.1

CMA / ARV

• ARV (on-the-fly): $133,588
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1668 Chartres St	0.33mi	3/2.0	1,490 (+2%)	2mo	$170,000	$114	80
1617 Illinois St	0.10mi	2/1.0 (-1)	1,437 (-2%)	8mo	$115,000	$80	76
625 Oconor Ave	0.15mi	3/2.0	1,271 (-13%)	1mo	$85,000	$67	70
240 Garfield Ave	0.33mi	2/2.0 (-1)	1,395 (-5%)	9mo	$281,000	$201	63
1129 Creve Coeur St	0.46mi	2/1.0 (-1)	1,442 (-2%)	8mo	$61,000	$42	60
874 O'conor Ave	0.26mi	3/1.0	1,320 (-10%)	9mo	$190,000	$144	59
1249 Creve Coeur St	0.37mi	3/1.0	1,636 (+11%)	2mo	$105,000	$64	58
1534 Zinc St	0.62mi	3/2.0	1,416 (-4%)	10mo	$128,750	$91	57
345 9th St	0.54mi	2/1.0 (-1)	1,387 (-6%)	10mo	$130,000	$94	48
904 9th St	0.60mi	4/2.0 (+1)	1,322 (-10%)	6mo	$70,000	$53	46
236 10th St	0.54mi	3/1.0	1,664 (+13%)	4mo	$123,000	$74	45
1526 Crosat St	0.43mi	2/1.0 (-1)	1,276 (-13%)	6mo	$127,500	$100	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: -13.2%
• Equity multiple: 0.53×
• Total profit: $-15,928
• Equity at exit: $17,892

10-year hold

• IRR: -4.1%
• Equity multiple: 0.73×
• Total profit: $-9,138
• Equity at exit: $10,375

Cash invested: $33,600 (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 61301

• Home prices YoY: -24.3%
• Active inventory: 69
• Price-to-rent: 8.1×

Monthly cashflow live

• Estimated rent: $1,230 medium
• Mortgage (P&I): −$629
• Tax from tax record: −$239 /mo · $2,863/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$258
• Net cashflow: $54

Break-even live

Break-even rent $1,162

Max offer price $120,000

Occupancy floor 91%

Sensitivity live

Price	-10% $122	-5% $88	+0% $54	+5% $20	+10% $-14
Rent	-10% $-43	-5% $5	+0% $54	+5% $103	+10% $151
Rate	-1.0pp $115	-0.5pp $85	base $54	+0.5pp $23	+1.0pp $-9

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: $30,000
• Closing costs: $3,600
• Reserves months: —
• Total cash needed: —

Listing history 25 events

1. 2026-06-22
   days on market $120,000 Active 33 DOM
2. 2026-06-19
   days on market $120,000 Active 30 DOM
3. 2026-06-18
   days on market $120,000 Active 29 DOM
4. 2026-06-17
   days on market $120,000 Active 28 DOM
5. 2026-06-16
   days on market $120,000 Active 27 DOM
6. 2026-06-16
   days on marketlisting id $120,000 Active 26 DOM
7. 2026-06-15
   days on market $120,000 Active 273 DOM
8. 2026-06-14
   days on market $120,000 Active 271 DOM
9. 2026-06-12
   days on market $120,000 Active 270 DOM
10. 2026-06-09
    days on market $120,000 Active 267 DOM
11. 2026-06-08
    days on market $120,000 Active 266 DOM
12. 2026-06-07
    days on market $120,000 Active 265 DOM
13. 2026-06-02
    days on market $120,000 Active 260 DOM
14. 2026-06-01
    days on market $120,000 Active 259 DOM
15. 2026-05-31
    days on market $120,000 Active 258 DOM
16. 2026-05-30
    days on market $120,000 Active 257 DOM
17. 2026-05-21
    status Active 876-char remark

    Show marketing remark (876 chars)

    Spacious home with 3 large bedrooms & 2 full baths in a great location, walking distance to the park with pool, schools and a convenience store! Main level features the primary bedroom with 2 walk-in closets, a 2nd bedroom with a full bath with access for both, separate dining room, and kitchen leading to a back porch and deck. Hardwood is potentially under the carpet on the main level. Upstairs you will find a large finished dormer with an 11x25 bedroom and an adjacent full bathroom. The basement includes workshop space, cabinets for storage and a walk-in shower. New water heater (2025), electric recently updated, furnace 6 years old, plus a detached one car garage and garden shed. Appliances are not warranted as they have not been used in over a year. New electric wiring, outlets & circuit breaker recently installed. This home has a lot of potential.

18. 2026-05-21
    price $120,000 876-char remark

    Show marketing remark (876 chars)

    Spacious home with 3 large bedrooms & 2 full baths in a great location, walking distance to the park with pool, schools and a convenience store! Main level features the primary bedroom with 2 walk-in closets, a 2nd bedroom with a full bath with access for both, separate dining room, and kitchen leading to a back porch and deck. Hardwood is potentially under the carpet on the main level. Upstairs you will find a large finished dormer with an 11x25 bedroom and an adjacent full bathroom. The basement includes workshop space, cabinets for storage and a walk-in shower. New water heater (2025), electric recently updated, furnace 6 years old, plus a detached one car garage and garden shed. Appliances are not warranted as they have not been used in over a year. New electric wiring, outlets & circuit breaker recently installed. This home has a lot of potential.

19. 2026-05-06
    status Active
20. 2026-05-01
    historical Contingent - Continue to Show
21. 2026-04-15
    price $120,000
22. 2026-03-13
    price $143,000
23. 2025-09-16
    historical 876-char remark

    Show marketing remark (876 chars)

    Spacious home with 3 large bedrooms & 2 full baths in a great location, walking distance to the park with pool, schools and a convenience store! Main level features the primary bedroom with 2 walk-in closets, a 2nd bedroom with a full bath with access for both, separate dining room, and kitchen leading to a back porch and deck. Hardwood is potentially under the carpet on the main level. Upstairs you will find a large finished dormer with an 11x25 bedroom and an adjacent full bathroom. The basement includes workshop space, cabinets for storage and a walk-in shower. New water heater (2025), electric recently updated, furnace 6 years old, plus a detached one car garage and garden shed. Appliances are not warranted as they have not been used in over a year. New electric wiring, outlets & circuit breaker recently installed. This home has a lot of potential.

24. 2025-09-15
    listed $135,000 Active 876-char remark

    Show marketing remark (876 chars)

    Spacious home with 3 large bedrooms & 2 full baths in a great location, walking distance to the park with pool, schools and a convenience store! Main level features the primary bedroom with 2 walk-in closets, a 2nd bedroom with a full bath with access for both, separate dining room, and kitchen leading to a back porch and deck. Hardwood is potentially under the carpet on the main level. Upstairs you will find a large finished dormer with an 11x25 bedroom and an adjacent full bathroom. The basement includes workshop space, cabinets for storage and a walk-in shower. New water heater (2025), electric recently updated, furnace 6 years old, plus a detached one car garage and garden shed. Appliances are not warranted as they have not been used in over a year. New electric wiring, outlets & circuit breaker recently installed. This home has a lot of potential.

25. 2025-09-14
    listed $135,000 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: $2,863 · $239/mo
• Projected year-2 tax: $2,863 · $239/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 ≥104°F today · 16 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 · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,763
• − Mortgage interest: −$6,722
• − Property taxes: −$2,863
• − Insurance: −$600
• − Repairs & maintenance: −$1,181
• − Management: −$1,181
• − Depreciation: −$3,491
• Taxable loss: −$1,274
• Est. tax savings @ 24.0%: +$306
• After-tax cash flow: $955/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: La Salle-Peru Twp Hsd 120
• NCES district ID: 1722110
• Math proficiency: 15% ▼ -11.00%
• Reading proficiency: 26% ▼ -11.00%
• Median HH income: $40,449
• Composite: 17.37/100
• National rank: #9070
• State rank: #427 of 620 in IL

Livability — LaSalle

• Score: 64/100
• State rank: #718
• US rank: #14579

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: LaSalle, IL
• Population (ZIP): 10,312

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 (74%)
• Race & ethnicity: White 74% Hispanic / Latino 18% Two or more races 8% Black 5%
• Hispanic origin (detail): Mexican 18%
• Common ancestry: Romanian 9% Lithuanian 3% Scotch-Irish 1%
• Foreign-born: 6% · Canada
• Languages at home: 87% English-only · Spanish 10% German/W. Germanic 1% Other Indo-European 1%

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: ▼ -52.46%
• Current HPI: 163.091
• 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

-11.1% since first listed

9 events — show timeline

• 2026-05-21 Relisted — NWIAR
• 2026-05-21 Price Changed $120,000 NWIAR
• 2026-05-06 Relisted — MRED as Distributed by MLS Grid
• 2026-05-01 Contingent — MRED as Distributed by MLS Grid
• 2026-04-15 Price Changed $120,000 MRED as Distributed by MLS Grid
• 2026-03-13 Price Changed $143,000 MRED as Distributed by MLS Grid
• 2025-09-16 Delisted — NWIAR
• 2025-09-15 Listed $135,000 NWIAR
• 2025-09-14 Listed $135,000 MRED as Distributed by MLS Grid

Property tax history

+6.7%/yr

Latest (2024): $2,863 · +113.2% YoY. Source: county tax records.