408 E Elm St · Streator, IL 61364

$144,900

3 bd · 1.0 ba · 1,094 sqft · SingleFamily public records · 15 Days on market

Built 1900 8,820 sqft lot Est $117k · 24% over

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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 +24.4/30.0
• DSCR +7.9/10.0
• 1% rule +5.9/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks

Take a look at this charming 3-bedroom, 1-bath home situated on a large corner lot just steps from the city park! This 11/2-story home offers approximately 1,100 square feet of comfortable living space with a partially finished basement, attached 1-car garage, and an impressive insulated 24' x 30' detached 2-car garage. The main floor features a convenient first-floor bedroom, spacious living room with a wood-burning fireplace (not used in recent years), and an eat-in kitchen with table space. The kitchen was updated in 2008 and includes beautiful maple cabinets and all major appliances. The partially finished basement provides additional living and storage space and includes a sump pump fo

Key facts

• First-floor bedroom
• Large corner lot
• Updated kitchen

Tags

• LARGE CORNER LOT
• PARTIALLY FINISHED BASEMENT
• INSULATED DETACHED GARAGE
• FIRST-FLOOR BEDROOM
• WOOD-BURNING FIREPLACE
• UPDATED KITCHEN

Property features AI

Finance

• Other: Parcel number available; Lot dimensions approximately 140 x 63 (less than 0.25 acre)
• HOA & community: No master association required; Community features include park, curbs, sidewalks, street lights and paved streets

Exterior

• Parking: Detached heated garage with concrete driveway; Garage door opener; 2 garage spaces (2 total parking spaces); Garage owned
• Utilities: Public water; Public sewer; Electric fuses
• Home design: Detached single-family home; 1.5-story; Fee simple ownership; Built over 100 years ago; Living area measured by taped method; Built before 1978
• Construction: Vinyl siding; Asphalt roof; Brick/mortar foundation
• Exterior features: Patio; Exterior lighting; Fenced yard; Corner lot with mature trees

Interior

• Kitchen: Eating area/table space; Custom cabinetry; Pantry; Range; Microwave; Dishwasher; Refrigerator; Freezer
• Bedrooms: Master bedroom on main level (10 x 12); Bedroom 2 on second level (12 x 13); Bedroom 3 on second level (9 x 8); Additional den on main level (14 x 11)
• Flooring: Carpet in living areas and bedrooms; Tile in kitchen
• Bathrooms: One full bathroom
• Heating & cooling: Natural gas forced-air heating; Central air; Wall unit(s)
• Interior features: First-floor bedroom and first-floor full bath; Partially finished basement; Ceiling fan(s); Sump pump; Six total rooms
• Laundry & utility: Laundry room; Gas dryer hookup; Washer; Dryer

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $145k.

Deal economics

• At list price, monthly cash flow is $295 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $145k).
• Recommended offer: $143k (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads 63/100 on livability (#752 in IL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing B+; Watch: schools F, amenities F, commute F.
• Streator Twp Hsd 40 (town): math 11% / reading 19% proficiency, ranked #513 of 620 in IL (top 83%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 85 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals leasing fast (median 8d on market — plan ~1-2 weeks tenant-placement turnaround); 82 units permitted in LaSalle County in 2024 (0 in 5+ unit buildings).
• This rent runs 32% of the median local income ($59k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k 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 15 days — a 2% lower offer ($143k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $142,726 (1.5% below list)

Questions for the listing agent

1. Built in 1900 — 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. 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?
5. 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.
6. 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.
7. 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: 1.09% ✓
• Cap rate: 8.74%
• Cash-on-cash: 8.72%
• DSCR: 1.39
• GRM: 7.6

CMA / ARV

• ARV (on-the-fly): $117,058
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
403 N Wasson St	0.15mi	3/1.0	1,078 (-2%)	1mo	$121,887	$113	90
608 N Shabbona St	0.31mi	3/1.5	1,120 (+2%)	1mo	$120,000	$107	78
304 W Morrell St	0.50mi	2/1.0 (-1)	1,125 (+3%)	1mo	$135,000	$120	66
1012 N Bloomington St	0.61mi	3/1.0	1,050 (-4%)	2mo	$100,000	$95	63
204 Penn St	0.61mi	3/1.0	1,146 (+5%)	2mo	$52,900	$46	62
1209 Watson St	0.70mi	2/1.0 (-1)	1,092 (-0%)	2mo	$62,500	$57	60
1209 Watson St	0.70mi	2/1.0 (-1)	1,092 (-0%)	2mo	$62,500	$57	60
1012 E Wilson St	0.54mi	4/2.0 (+1)	1,160 (+6%)	2mo	$137,000	$118	54
1121 E Main St	0.59mi	2/1.0 (-1)	999 (-9%)	1mo	$83,500	$84	53
1126 E Main St	0.58mi	2/1.0 (-1)	1,220 (+12%)	2mo	$90,000	$74	47
709 E Livingston St	0.51mi	4/2.0 (+1)	1,243 (+14%)	2mo	$140,000	$113	43
307 Court St	0.72mi	3/2.0	1,250 (+14%)	2mo	$155,000	$124	37

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: -3.1%
• Equity multiple: 0.88×
• Total profit: $-4,703
• Equity at exit: $21,605

10-year hold

• IRR: 6.6%
• Equity multiple: 1.49×
• Total profit: $20,072
• Equity at exit: $12,528

Cash invested: $40,572 (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 61364

• Home prices YoY: -31.1%
• Active inventory: 85
• Price-to-rent: 7.6×

Monthly cashflow live

• Estimated rent: $1,583 high
• Mortgage (P&I): −$760
• Tax from tax record: −$135 /mo · $1,624/yr
• Insurance: −$60
• HOA: −$0
• Vacancy / Maint / Mgmt: −$332
• Net cashflow: $295

Break-even live

Break-even rent $1,210

Max offer price $144,900

Occupancy floor 76%

Sensitivity live

Price	-10% $377	-5% $336	+0% $295	+5% $254	+10% $213
Rent	-10% $170	-5% $232	+0% $295	+5% $357	+10% $420
Rate	-1.0pp $368	-0.5pp $332	base $295	+0.5pp $257	+1.0pp $219

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: $36,225
• Closing costs: $4,347
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
514 Lundy St Streator, IL	3.0	1.0	1174	$1,700	$1.45	5d	1	0.52mi
514 Lundy St Streator, IL	4.0	1.5	1300	$1,700	$1.31	8d	1	0.52mi
402 S Illinois St Streator, IL	2.0	1.0	1116	$1,550	$1.39	23d	1	0.54mi
503 S Bloomington St Streator, IL	3.0	1.0	1200	$1,500	$1.25	25d	1	0.59mi
1409 Kelly St Streator, IL	3.0	1.0	1280	$1,750	$1.37	8d	1	1.04mi

Listing history 12 events

1. 2026-06-21
   days on market $144,900 Active 15 DOM
2. 2026-06-19
   days on market $144,900 Active 13 DOM
3. 2026-06-18
   days on market $144,900 Active 12 DOM
4. 2026-06-17
   days on market $144,900 Active 11 DOM
5. 2026-06-16
   days on market $144,900 Active 10 DOM
6. 2026-06-15
   days on market $144,900 Active 9 DOM
7. 2026-06-14
   days on market $144,900 Active 7 DOM
8. 2026-06-12
   days on market $144,900 Active 6 DOM
9. 2026-06-09
   days on market $144,900 Active 3 DOM
10. 2026-06-08
    days on market $144,900 Active 2 DOM
11. 2026-06-07
    remarks 699-char remark
12. 2026-06-07
    listed $144,900 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: $1,624 · $135/mo
• Projected year-2 tax: $2,457 · $205/mo
• Expected delta: +$833/yr (+$69/mo · 51.3%)

ⓘ 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 · 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 · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,994
• − Mortgage interest: −$8,117
• − Property taxes: −$1,624
• − Insurance: −$724
• − Repairs & maintenance: −$1,520
• − Management: −$1,520
• − Depreciation: −$4,215
• Taxable income: $1,275
• Est. tax owed @ 24.0%: −$306
• After-tax cash flow: $3,233/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: Streator Twp Hsd 40
• NCES district ID: 1738100
• Math proficiency: 11% ▼ -4.00%
• Reading proficiency: 19% ▼ -1.00%
• Median HH income: $43,002
• Composite: 13.07/100
• National rank: #9561
• State rank: #513 of 620 in IL

Livability — Streator

• Score: 63/100
• State rank: #752
• US rank: #15266

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Streator, IL
• County: La Salle County · 41,676 people
• City population: 17,963
• Metro: Ottawa, IL
• Population (ZIP): 17,963
• Household income: $59,060
• Rent vs Own: 29.8% rent · 70.2% own
• Severe rent burden: 450.0

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 (83%)
• Race & ethnicity: White 83% Hispanic / Latino 11% Two or more races 4% Black 3%
• Hispanic origin (detail): Mexican 10%
• Common ancestry: Romanian 3% Lithuanian 2% Slovak 2%
• Foreign-born: 3% · Canada
• Languages at home: 93% English-only · Spanish 6%

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: ▼ -105.28%
• Current HPI: 233.5533
• 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

1 event — show timeline

• 2026-06-05 Listed $144,900 MRED as Distributed by MLS Grid

Property tax history

-0.3%/yr

Latest (2024): $1,624 · -7.1% YoY. Source: county tax records.