138 Chartres St · LaSalle, IL 61301

$55,000

2 bd · 1.0 ba · 840 sqft · SingleFamily public records · 31 Days on market

Built 1950 Est $83k · 34% 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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• 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

Restore this home to its original beauty! Home needs work. Sold as-is. Priced to sell!!! 2 bed, 1-bath, 1-story home. 1-car garage and back yard. Needs TLC and updates. Being-Sold as-is. Could be an investment opportunity! 2 bedroom, 1 bath home. Eat in kitchen. front porch. 1 car garage. Central A/C. Washer and dryer AS IS

Key facts

• Built 1950
• Listed 31 days

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $55k.

Deal economics

• At list price, monthly cash flow is $431 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $55k).
• Recommended offer: $53k (3.0% below list) — sets the bar for market timing.
• Cap rate 15.7% 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; 2 comparable units currently listed for rent nearby; 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 $380 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 $15k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 31 days — a 3% lower offer ($53k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: property tax is 2.9% of price; built in 1950 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $53,350 (3.0% below list)

Questions for the listing agent

1. It's been on market 31 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. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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: 2.01% ✓
• Cap rate: 15.70%
• Cash-on-cash: 33.61%
• DSCR: 2.50
• GRM: 4.1

CMA / ARV

• ARV (on-the-fly): $83,160
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
128 Chartres St	0.01mi	2/1.0	860 (+2%)	14mo	$85,000	$99	84
336 4th St	0.24mi	2/1.0	741 (-12%)	10mo	$64,000	$86	61
336 4th St	0.24mi	2/1.0	741 (-12%)	10mo	$64,000	$86	61
1120 Pulaski St	0.53mi	2/1.0	846 (+1%)	18mo	$75,000	$89	59
1017 Pulaski St	0.49mi	2/1.0	929 (+11%)	1mo	$139,000	$150	58
308 6th St	0.36mi	2/1.0	935 (+11%)	7mo	$125,000	$134	58
73 4th St	0.21mi	3/1.0 (+1)	963 (+15%)	10mo	$132,500	$138	52
708 11th St	0.71mi	3/1.0 (+1)	820 (-2%)	8mo	$62,100	$76	51
132 9th St	0.55mi	2/1.0	894 (+6%)	17mo	$108,500	$121	49
721 6th St	0.58mi	3/1.0 (+1)	900 (+7%)	11mo	$55,000	$61	47
709 9th St	0.64mi	2/1.0	900 (+7%)	14mo	$105,000	$117	46
1040 3rd St	0.70mi	2/1.0	722 (-14%)	6mo	$57,000	$79	39

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: 29.0%
• Equity multiple: 2.21×
• Total profit: $18,615
• Equity at exit: $8,201

10-year hold

• IRR: 36.4%
• Equity multiple: 4.36×
• Total profit: $51,811
• Equity at exit: $4,755

Cash invested: $15,400 (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: 4.1×

Monthly cashflow live

• Estimated rent: $1,107 medium
• Mortgage (P&I): −$288
• Tax from tax record: −$132 /mo · $1,585/yr
• Insurance: −$23
• HOA: −$0
• Vacancy / Maint / Mgmt: −$233
• Net cashflow: $431

Break-even live

Break-even rent $561

Max offer price $55,000

Occupancy floor 56%

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: $13,750
• Closing costs: $1,650
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1401 Bluff St Peru, IL	1.0	1.0	700	$1,200	$1.71	43d	1	1.04mi
1925 Main St Peru, IL	2.0	1.0	840	$1,000	$1.19	43d	1	1.44mi

Listing history 11 events

1. 2026-06-15
   days on market $55,000 Active 31 DOM
2. 2026-06-14
   days on market $55,000 Active 29 DOM
3. 2026-06-12
   days on market $55,000 Active 28 DOM
4. 2026-06-09
   days on market $55,000 Active 25 DOM
5. 2026-06-08
   days on market $55,000 Active 24 DOM
6. 2026-06-07
   days on market $55,000 Active 23 DOM
7. 2026-06-02
   days on market $55,000 Active 18 DOM
8. 2026-06-01
   days on market $55,000 Active 17 DOM
9. 2026-05-31
   days on market $55,000 Active 16 DOM
10. 2026-05-30
    days on market $55,000 Active 15 DOM
11. 2026-05-16
    listed $55,000 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: $1,585 · $132/mo
• Projected year-2 tax: $1,585 · $132/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 2/10 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: $13,288
• − Mortgage interest: −$3,081
• − Property taxes: −$1,585
• − Insurance: −$275
• − Repairs & maintenance: −$1,063
• − Management: −$1,063
• − Depreciation: −$1,600
• Taxable income: $4,621
• Est. tax owed @ 24.0%: −$1,109
• After-tax cash flow: $4,067/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

• 2026-05-16 Listed $55,000 FSBO.com

Property tax history

+1.4%/yr

Latest (2024): $1,585 · +9.3% YoY. Source: county tax records.