244 Lafayette St · LaSalle, IL 61301

$81,500

3 bd · 1.0 ba · 1,110 sqft · SingleFamily public records · 2 Days on market

Built 1893 3,484 sqft lot Est $105k · 23% under

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Why this score? — see what drove the B 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
• DSCR +10.0/10.0
• 1% rule +9.2/10.0
• 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

Affordable & spacious 3 bedroom, 1 bath home near restaurants and shopping. Features an eat-in kitchen with plenty of cabinets and comes with appliances, large dining/living room combo, enclosed rear porch with closet, off street parking and 1 car garage. This home is priced to sell!

Key facts

• Off street parking
• Eat-in kitchen
• Enclosed rear porch

Tags

• EAT-IN KITCHEN
• ENCLOSED REAR PORCH
• OFF STREET PARKING

Property features AI

Finance

• Other: Parcel number: 1815317016
• HOA & community: No master association fee required; Community amenities include park, pool and tennis courts

Exterior

• Parking: 3 total parking spaces; Attached garage (garage owned) and driveway; Concrete surfaces
• Utilities: Public water; Public sewer; Electric with circuit breakers
• Home design: Detached single-family home; One-story; Fee simple ownership; Over 100 years old; School bus service available
• Construction: Stucco construction; Asphalt roof; Brick/mortar foundation; Built before 1978
• Exterior features: 60 x 60 lot dimensions; Less than 0.25 acre lot; Street paved with curbs, sidewalks and street lights; Access to park, pool and tennis courts

Interior

• Kitchen: Eating area / table space; Range; Microwave; Refrigerator
• Bedrooms: 3 bedrooms (all on main level); Master bedroom on main level
• Flooring: Carpet in living room and bedrooms; Vinyl in kitchen and enclosed porch
• Bathrooms: 1 full bathroom
• Heating & cooling: Natural gas forced air heating; Central air conditioning
• Interior features: 5 total rooms; Full unfinished basement; Enclosed porch
• Laundry & utility: Laundry room; Washer; Dryer

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $82k.

Deal economics

• At list price, monthly cash flow is $393 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $82k).
• Cap rate 12.1% vs local median 5.6% in LaSalle — 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 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+, schools 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.
• Market conditions: 68 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 $563 of loan paydown is wiped out by about $2k 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 $23k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1893 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $81,500

Questions for the listing agent

1. Built in 1893 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 1.42% ✓
• Cap rate: 12.08%
• Cash-on-cash: 20.68%
• DSCR: 1.92
• GRM: 5.9

CMA / ARV

• ARV (on-the-fly): $105,450
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
422 Chartres St	0.20mi	2/1.0 (-1)	1,096 (-1%)	4mo	$120,000	$109	80
748 7th St	0.45mi	3/1.0	1,146 (+3%)	1mo	$135,900	$119	73
542 8th St	0.43mi	3/2.0	1,120 (+1%)	8mo	$125,100	$112	68
508 7th St	0.35mi	2/2.0 (-1)	1,183 (+7%)	3mo	$121,000	$102	61
43 Westclox Ave	0.56mi	2/1.0 (-1)	1,164 (+5%)	4mo	$33,000	$28	57
418 6th St	0.54mi	3/1.0	1,236 (+11%)	1mo	$176,000	$142	55
1407 Pulaski St	0.64mi	3/1.0	1,020 (-8%)	8mo	$70,000	$69	50
1038 Wright St	0.61mi	2/1.0 (-1)	1,005 (-10%)	3mo	$95,000	$95	48
1038 Wright St	0.61mi	2/1.0 (-1)	1,005 (-10%)	3mo	$95,000	$95	48
1240 3rd St	0.69mi	3/1.0	1,215 (+10%)	8mo	$55,000	$45	45
618 10th St	0.72mi	2/1.0 (-1)	987 (-11%)	1mo	$90,500	$92	42
1409 Pulaski St	0.65mi	3/1.0	1,259 (+13%)	8mo	$120,000	$95	41

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: 13.0%
• Equity multiple: 1.52×
• Total profit: $11,837
• Equity at exit: $12,152

10-year hold

• IRR: 21.9%
• Equity multiple: 2.86×
• Total profit: $42,532
• Equity at exit: $7,047

Cash invested: $22,820 (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: 68
• Price-to-rent: 5.9×

Monthly cashflow live

• Estimated rent: $1,157 medium
• Mortgage (P&I): −$427
• Tax from tax record: −$60 /mo · $716/yr
• Insurance: −$34
• HOA: −$0
• Vacancy / Maint / Mgmt: −$243
• Net cashflow: $393

Break-even live

Break-even rent $660

Max offer price $81,500

Occupancy floor 61%

Sensitivity live

Price	-10% $439	-5% $416	+0% $393	+5% $370	+10% $347
Rent	-10% $302	-5% $348	+0% $393	+5% $439	+10% $485
Rate	-1.0pp $434	-0.5pp $414	base $393	+0.5pp $372	+1.0pp $351

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: $20,375
• Closing costs: $2,445
• Reserves months: —
• Total cash needed: —

Listing history 3 events

1. 2026-06-19
   days on market $81,500 Active 2 DOM
2. 2026-06-17
   remarks 286-char remark
3. 2026-06-17
   listed $81,500 Active 1 DOM

ⓘ 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: $716 · $60/mo
• Projected year-2 tax: $1,283 · $107/mo
• Expected delta: +$567/yr (+$47/mo · 79.2%)

ⓘ 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 ≥104°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 0% 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: $13,889
• − Mortgage interest: −$4,565
• − Property taxes: −$716
• − Insurance: −$408
• − Repairs & maintenance: −$1,111
• − Management: −$1,111
• − Depreciation: −$2,371
• Taxable income: $3,607
• Est. tax owed @ 24.0%: −$866
• After-tax cash flow: $3,854/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

1 event — show timeline

• 2026-06-16 Listed $81,500 MRED as Distributed by MLS Grid

Property tax history

+18.8%/yr

Latest (2024): $716 · -1.5% YoY. Source: county tax records.