204 Wallace St · Marseilles, IL 61341

$100,050

2 bd · 1.0 ba · 1,350 sqft · SingleFamily public records · 129 Days on market

Built 1930 5,000 sqft lot Est $170k · 41% under

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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 +22.8/30.0
• ARV discount +15.0/15.0
• 1% rule +7.7/10.0
• DSCR +7.3/10.0
• Livability +3.5/5.0
• 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

Wonderful 2 bedroom home, like new. 1.5 attached garage. Appliances included. New furnace, AC, water heater, updated electrical, new flooring, cabinets, plumbing, new sewer line, beautiful decor. Large enclosed front porch. Bonus room with extra storage. Large eat-in kitchen. All dimensions are approximate.

Key facts

• 5,000 sq ft lot
• Garage
• Built 1930

Property features AI

Finance

• Other: Property is not currently leased; Possession at closing; Living area source: assessor; Directions provided: Main Street South, turn east on Broadway, then south Aurora then right onto Wallace
• HOA & community: No master association fee required

Exterior

• Parking: Attached garage (garage owned) with garage door opener; Concrete driveway/parking; Approximately 1.5 garage/parking spaces
• Utilities: Public water; Public sewer
• Home design: Detached single-family home; One-story; Fee simple ownership; Rehab completed in 2015; Built before 1978
• Construction: Vinyl siding; Asphalt roof; Concrete perimeter foundation; Estimated age: 91–100 years
• Exterior features: Enclosed porch (24 x 8); Mud room (15 x 11); Lot dimensions approximately 50 x 100; Lot size less than 0.25 acre

Interior

• Kitchen: Range; Microwave; Dishwasher; Refrigerator
• Bedrooms: Master bedroom on the main level (15 x 11); Second bedroom on the main level (11 x 10); Additional bedroom listings indicated
• Flooring: Wood laminate in kitchen, dining/combination area, and mud room; Vinyl in enclosed porch; Carpet in living room and bedrooms
• Bathrooms: One full bathroom on the main level
• Heating & cooling: Natural gas forced-air heating; Central air conditioning
• Interior features: First-floor bedroom and a first-floor full bathroom; Ceiling fan(s); Sump pump; 5 total rooms; Unfinished full basement
• Laundry & utility: Laundry on the main level; Washer; Dryer

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $100k.

Deal economics

• At list price, monthly cash flow is $119 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $100k).
• Recommended offer: $88k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 69/100 on livability (#438 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.
• 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.
• Market conditions: 54 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 $692 of loan paydown is wiped out by about $3k 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 129 days — a 12% lower offer ($88k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 11y ago; this cycle's ask has dropped $7k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $86k; 16% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: property tax is 3.2% of price; flood insurance adds $56/mo; built in 1930 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $88,044 (12.0% below list)

Questions for the listing agent

1. It's been on market 129 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 1930 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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.
9. 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.
10. 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: 1.27% ✓
• Cap rate: 8.39%
• Cash-on-cash: 7.49%
• DSCR: 1.33
• GRM: 6.5

CMA / ARV

• ARV (on-the-fly): $170,100
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
454 Washington St	0.30mi	3/1.0 (+1)	1,414 (+5%)	8mo	$160,050	$113	67
491 Illinois St	0.17mi	3/1.0 (+1)	1,200 (-11%)	6mo	$165,000	$138	63
584 Broadway St	0.28mi	3/1.5 (+1)	1,170 (-13%)	3mo	$145,000	$124	55
414 W Bluff St	0.64mi	3/1.0 (+1)	1,310 (-3%)	7mo	$139,000	$106	54
820 Lincoln St	0.53mi	3/1.5 (+1)	1,260 (-7%)	4mo	$130,500	$104	54
866 Lincoln St	0.56mi	3/2.0 (+1)	1,430 (+6%)	2mo	$207,000	$145	53
454 Ryall St	0.61mi	2/1.0	1,202 (-11%)	5mo	$45,000	$37	49
266 Clark St	0.48mi	3/1.0 (+1)	1,196 (-11%)	6mo	$73,000	$61	48
641 Aberdeen St	0.46mi	3/2.0 (+1)	1,186 (-12%)	5mo	$150,000	$126	45
423 Clark St	0.63mi	3/1.5 (+1)	1,512 (+12%)	0mo	$192,900	$128	43
401 Scott St	0.53mi	3/1.5 (+1)	1,541 (+14%)	6mo	$210,000	$136	40
764 Fillebrowne St	0.53mi	3/1.5 (+1)	1,151 (-15%)	7mo	$236,000	$205	38

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: -8.2%
• Equity multiple: 0.70×
• Total profit: $-8,478
• Equity at exit: $14,918

10-year hold

• IRR: 1.5%
• Equity multiple: 1.11×
• Total profit: $2,965
• Equity at exit: $8,650

Cash invested: $28,014 (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 61341

• Home prices YoY: -26.2%
• Active inventory: 54
• Price-to-rent: 6.5×

Monthly cashflow live

• Estimated rent: $1,275 medium
• Mortgage (P&I): −$525
• Tax from tax record: −$266 /mo · $3,196/yr
• Insurance: −$42
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$268
• Net cashflow: $119

Break-even live

Break-even rent $1,124

Max offer price $100,050

Occupancy floor 86%

Sensitivity live

Price	-10% $176	-5% $148	+0% $119	+5% $91	+10% $63
Rent	-10% $18	-5% $69	+0% $119	+5% $170	+10% $220
Rate	-1.0pp $170	-0.5pp $145	base $119	+0.5pp $93	+1.0pp $67

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: $25,012
• Closing costs: $3,002
• Reserves months: —
• Total cash needed: —

Listing history 32 events

1. 2026-06-21
   days on market $100,050 Active 129 DOM
2. 2026-06-19
   days on market $100,050 Active 127 DOM
3. 2026-06-18
   days on market $100,050 Active 126 DOM
4. 2026-06-17
   days on market $100,050 Active 125 DOM
5. 2026-06-16
   days on market $100,050 Active 124 DOM
6. 2026-06-15
   days on market $100,050 Active 123 DOM
7. 2026-06-14
   days on market $100,050 Active 121 DOM
8. 2026-06-12
   days on market $100,050 Active 120 DOM
9. 2026-06-09
   days on market $100,050 Active 117 DOM
10. 2026-06-08
    days on market $100,050 Active 116 DOM
11. 2026-06-07
    days on market $100,050 Active 115 DOM
12. 2026-06-05
    days on market $100,050 Active 112 DOM
13. 2026-06-02
    days on market $100,050 Active 110 DOM
14. 2026-06-01
    days on market $100,050 Active 109 DOM
15. 2026-05-31
    days on market $100,050 Active 108 DOM
16. 2026-05-30
    days on market $100,050 Active 107 DOM
17. 2026-04-09
    price $100,050
18. 2026-02-16
    price $80,000
19. 2026-02-16
    price $145,000
20. 2026-02-12
    listed $107,300 Active
21. 2015-07-28
    soldstatus $86,000
22. 2015-07-24
    soldstatus $86,000 Closed Sale 314-char remark

    Show marketing remark (314 chars)

    Wonderful 2 bedroom home, like new. 1.5 attached garage. Appliances included. New furnace, AC, water heater, updated electrical, new flooring, cabinets, plumbing, new sewer line, beautiful decor. Large enclosed front porch. Bonus room with extra storage. Large eat-in kitchen. All dimensions are approximate.

23. 2015-07-23
    status Pending 314-char remark

    Show marketing remark (314 chars)

    Wonderful 2 bedroom home, like new. 1.5 attached garage. Appliances included. New furnace, AC, water heater, updated electrical, new flooring, cabinets, plumbing, new sewer line, beautiful decor. Large enclosed front porch. Bonus room with extra storage. Large eat-in kitchen. All dimensions are approximate.

24. 2015-06-16
    historical Contingent 314-char remark

    Show marketing remark (314 chars)

    Wonderful 2 bedroom home, like new. 1.5 attached garage. Appliances included. New furnace, AC, water heater, updated electrical, new flooring, cabinets, plumbing, new sewer line, beautiful decor. Large enclosed front porch. Bonus room with extra storage. Large eat-in kitchen. All dimensions are approximate.

25. 2015-06-11
    price $87,500 314-char remark

    Show marketing remark (314 chars)

    Wonderful 2 bedroom home, like new. 1.5 attached garage. Appliances included. New furnace, AC, water heater, updated electrical, new flooring, cabinets, plumbing, new sewer line, beautiful decor. Large enclosed front porch. Bonus room with extra storage. Large eat-in kitchen. All dimensions are approximate.

26. 2015-05-08
    price $90,000 314-char remark

    Show marketing remark (314 chars)

    Wonderful 2 bedroom home, like new. 1.5 attached garage. Appliances included. New furnace, AC, water heater, updated electrical, new flooring, cabinets, plumbing, new sewer line, beautiful decor. Large enclosed front porch. Bonus room with extra storage. Large eat-in kitchen. All dimensions are approximate.

27. 2015-04-22
    listed $93,000 New 314-char remark

    Show marketing remark (314 chars)

    Wonderful 2 bedroom home, like new. 1.5 attached garage. Appliances included. New furnace, AC, water heater, updated electrical, new flooring, cabinets, plumbing, new sewer line, beautiful decor. Large enclosed front porch. Bonus room with extra storage. Large eat-in kitchen. All dimensions are approximate.

28. 1999-06-11
    soldstatus $63,500
29. 1996-07-26
    soldstatus $54,500
30. 1996-07-26
    soldstatus $54,500
31. 1994-07-14
    soldstatus $45,000
32. 1994-07-14
    soldstatus $45,000

ⓘ 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: $3,196 · $266/mo
• Projected year-2 tax: $3,196 · $266/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 10/10 Extreme FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥101°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: $15,303
• − Mortgage interest: −$5,604
• − Property taxes: −$3,196
• − Insurance: −$1,167
• − Repairs & maintenance: −$1,224
• − Management: −$1,224
• − Depreciation: −$2,911
• Taxable loss: −$23
• Est. tax savings @ 24.0%: +$5
• After-tax cash flow: $1,436/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 — Marseilles

• Score: 69/100
• State rank: #438
• US rank: #8954

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Marseilles, IL
• Population (ZIP): 7,249

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 (89%)
• Race & ethnicity: White 89% Hispanic / Latino 6% Two or more races 4% Asian 2%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Portuguese 11% Lithuanian 7% Romanian 4%
• Foreign-born: 3% · China, Canada
• Languages at home: 95% English-only · Spanish 2% Chinese 1% German/W. Germanic 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: ▼ -63.60%
• Current HPI: 178.9377
• 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

+122.3% since first listed

16 events — show timeline

• 2026-04-09 Price Changed $100,050 MRED as Distributed by MLS Grid
• 2026-02-16 Price Changed $80,000 MRED as Distributed by MLS Grid
• 2026-02-16 Price Changed $145,000 MRED as Distributed by MLS Grid
• 2026-02-12 Listed $107,300 MRED as Distributed by MLS Grid
• 2015-07-28 Sold (Public Records) $86,000 Public Records
• 2015-07-24 Sold (MLS) $86,000 MRED as Distributed by MLS Grid
• 2015-07-23 Pending — MRED as Distributed by MLS Grid
• 2015-06-16 Contingent — MRED as Distributed by MLS Grid
• 2015-06-11 Price Changed $87,500 MRED as Distributed by MLS Grid
• 2015-05-08 Price Changed $90,000 MRED as Distributed by MLS Grid
• 2015-04-22 Listed $93,000 MRED as Distributed by MLS Grid
• 1999-06-11 Sold (Public Records) $63,500 Public Records
• 1996-07-26 Sold (Public Records) $54,500 Public Records
• 1996-07-26 Sold (Public Records) $54,500 Public Records
• 1994-07-14 Sold (Public Records) $45,000 Public Records
• 1994-07-14 Sold (Public Records) $45,000 Public Records

Property tax history

+18.3%/yr

Latest (2024): $3,196 · +15.1% YoY. Source: county tax records.