706 E Joliet St · Ottawa, IL 61350

$119,500

2 bd · 1.0 ba · 935 sqft · SingleFamily public records · 83 Days on market

Built 1917 5,663 sqft lot Est $106k · 13% over

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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 +23.1/30.0
• DSCR +7.4/10.0
• 1% rule +7.0/10.0
• Livability +3.9/5.0
• Schools +2.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +1.6/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

This home has been completely remodeled with plank floors, drywall, vinyl bathroom floor and newer HVAC. Other features include stove, refrigerator, dishwasher, front open porch and a deep accessible crawl space.

Key facts

• Plank floors
• Front open porch
• Completely remodeled

Tags

• COMPLETELY REMODELED
• PLANK FLOORS
• VINYL BATHROOM FLOOR
• NEWER HVAC
• FRONT OPEN PORCH
• DEEP ACCESSIBLE CRAWL SPACE

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $120k.

Deal economics

• At list price, monthly cash flow is $215 ($3k/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: $112k (6.0% below list) — sets the bar for market timing.
• Cap rate 8.4% 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 $826 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 83 days — a 6% lower offer ($112k) 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.
• Current owner paid $36k; list at $120k implies a 232% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1917 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $112,330 (6.0% below list)

Questions for the listing agent

1. It's been on market 83 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1917 — 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: 1.20% ✓
• Cap rate: 8.45%
• Cash-on-cash: 7.70%
• DSCR: 1.34
• GRM: 6.9

CMA / ARV

• ARV (on-the-fly): $105,655
• Comps found: 10

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1849 Post St	0.44mi	2/1.0	936 (+0%)	3mo	$77,052	$82	77
537 Saint George St	0.34mi	2/1.0	864 (-8%)	1mo	$165,000	$191	70
321 E Washington St	0.44mi	2/1.0	954 (+2%)	7mo	$108,000	$113	70
2103 Franklin Ave	0.52mi	2/1.0	1,008 (+8%)	3mo	$70,100	$70	60
805 Bellevue Ave	0.49mi	3/1.0 (+1)	915 (-2%)	10mo	$55,000	$60	60
148 E Fremont St	0.49mi	3/1.0 (+1)	900 (-4%)	9mo	$147,500	$164	58
708 Congress St	0.59mi	2/1.0	956 (+2%)	15mo	$107,000	$112	56
1833 Columbus St	0.55mi	2/2.0	912 (-2%)	22mo	$112,000	$123	48
221 Prairie St	0.44mi	2/1.0	847 (-9%)	20mo	$90,000	$106	48
1900 Post St	0.44mi	3/1.0 (+1)	1,050 (+12%)	22mo	$125,000	$119	36

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: -4.5%
• Equity multiple: 0.83×
• Total profit: $-5,603
• Equity at exit: $17,818

10-year hold

• IRR: 5.3%
• Equity multiple: 1.39×
• Total profit: $13,061
• Equity at exit: $10,332

Cash invested: $33,460 (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: 6.9×

Monthly cashflow live

• Estimated rent: $1,437 medium
• Mortgage (P&I): −$627
• Tax from tax record: −$244 /mo · $2,928/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$302
• Net cashflow: $215

Break-even live

Break-even rent $1,165

Max offer price $119,500

Occupancy floor 80%

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: $29,875
• Closing costs: $3,585
• 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	0.87mi

Listing history 15 events

1. 2026-06-19
   days on market $119,500 Active 83 DOM
2. 2026-06-18
   days on market $119,500 Active 82 DOM
3. 2026-06-17
   days on market $119,500 Active 81 DOM
4. 2026-06-16
   days on market $119,500 Active 80 DOM
5. 2026-06-15
   days on market $119,500 Active 79 DOM
6. 2026-06-14
   days on market $119,500 Active 77 DOM
7. 2026-06-12
   days on market $119,500 Active 76 DOM
8. 2026-06-09
   days on market $119,500 Active 73 DOM
9. 2026-06-08
   days on market $119,500 Active 72 DOM
10. 2026-06-07
    days on market $119,500 Active 71 DOM
11. 2026-06-05
    statusdays on marketlisting id $119,500 Active 68 DOM
12. 2026-04-03
    status Pending
13. 2026-03-28
    listed $119,500 Active 212-char remark

    Show marketing remark (212 chars)

    This home has been completely remodeled with plank floors, drywall, vinyl bathroom floor and newer HVAC. Other features include stove, refrigerator, dishwasher, front open porch and a deep accessible crawl space.

14. 2026-03-17
    listed $119,500 Active
15. 2007-07-16
    soldstatus $36,000

ⓘ 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: $2,928 · $244/mo
• Projected year-2 tax: $2,928 · $244/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 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: $17,245
• − Mortgage interest: −$6,694
• − Property taxes: −$2,928
• − Insurance: −$598
• − Repairs & maintenance: −$1,380
• − Management: −$1,380
• − Depreciation: −$3,476
• Taxable income: $790
• Est. tax owed @ 24.0%: −$190
• After-tax cash flow: $2,388/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

+231.9% since first listed

4 events — show timeline

• 2026-04-03 Pending — MRED as Distributed by MLS Grid
• 2026-03-28 Listed $119,500 NWIAR
• 2026-03-17 Listed $119,500 MRED as Distributed by MLS Grid
• 2007-07-16 Sold (Public Records) $36,000 Public Records

Property tax history

+4.3%/yr

Latest (2024): $2,928 · +9.2% YoY. Source: county tax records.