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$214,900

Under Contract
1503 Ottawa Ave, Ottawa, IL 61350
3 Beds
2 Baths
1,791 Square Feet
0.00 Acres Lot
Built in 1906
Under Contract
Units n/a
Checked: 24 hours ago
Updated: Jul 16, 2025 at 03:33AM

Investment Summary


Monthly Cash Flow
-$118
Cap Rate
5.0%
Cash-on-Cash Return
-2.9%
Debt Coverage Ratio
0.88
Internal Rate of Return (5 years)
1.2%

Property Description


0.00 Acres Lot
Built in 1906
Under Contract
Units n/a

From 2022 until listing, this 3-4 bedroom home has been completely transformed from the top to the bottom! The old enclosed porch was removed and a gorgeous new wrap around open porch was built in it's place allowing for a wonderful sitting area on sunny days. A completely new kitchen was installed with white shaker cabinetry, granite countertops, a beautiful tile backsplash and new appliances. The furnace, central air conditioner and water heater have all been replaced. A new roof and gutters were installed. The detached 2 car garage has a new door and an awesome 18' x 28' rec room area with custom bar. The whole home has been repainted inside along with all new flooring, lighting and a fireplace upgrade. Both bathrooms were remodeled and the open floor plan allows for large gatherings. Fenced in rear yard and basement recently had a sump pump added and was painted with Drylok for waterproofing. This home is move in ready and ready for you!

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Location


Property Details


Parking

  • Description: Garage
  • Details: Gravel, Garage Door Opener, On Site, Detached, Garage
  • Garage Spaces: 2
  • Spaces Total: 2

Bedroom Information

  • # of Bedrooms: 3

Bathroom Information

  • # of Baths (Full): 2
  • # of Baths (Total): 2.0

Interior Features

  • # of Rooms: 8
  • # of Stories: 1
  • Basement: Yes
  • Basement Description: Sump Pump, Unfinished, Partial
  • Fireplace: Yes

Exterior Features

  • Foundation: Stone
  • Roof Material: Asphalt

Land Information

  • Land Use: Residential
  • Land Use Subtype: General - Single

Lot Information

  • Parcel ID: 2110429003
  • Lot Size: 0 sqft

Property Information

  • Property Type: Single Family Residence
  • Style: Traditional
  • Year Built: 1906

Tax Information

  • Annual Tax: $4,109

Utilities

  • Water & Sewer: Public
  • Heating: Natural Gas
  • Cooling: Central Air

Location

  • County: La Salle

Listing Details


Listed by:
Janelle McCarter
Landmark Realty of Illinois LLC
(815) 875-1221

Source:
Midwest Real Estate Data (MRED)
MLS#: 12295707
Midwest Real Estate Data (MRED)

Investment Summary


Monthly Cash Flow
-$118
Cap Rate
5.0%
Cash-on-Cash Return
-2.9%
Debt Coverage Ratio
0.88
Internal Rate of Return (5 years)
1.2%

Purchase Details

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Purchase price:
$214,900
Amount financed:
-$171,920
Down payment:
$42,980
Closing costs:
$6,447
Rehab costs:
$0
Initial cash invested:
$49,427
Square feet:
1,791
Cost per square foot:
$120
Monthly rent per square foot:
$1.01

Financing Details

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Loan amount:
$171,920
Loan to value ratio:
80.0%
Loan type:
Amortizing
Term:
30 years
Interest rate:
5.875%
Principal & interest:
$1,017
Property tax:
$343
Insurance:
$126
Private mortgage insurance (PMI):
$0
Monthly payment:
$1,486

Operating Income

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% Rent Monthly Yearly
Gross rent:
$1,800 $21,600
Vacancy loss: (6%)
6% -$108 -$1,296
Operating income:
$1,692 $20,304

Operating Expenses


% Rent Monthly Yearly
Property taxes: (19%)
19%-$343-$4,110
Insurance: (7%)
7%-$126-$1,512
Property management: (8%)
8%-$144-$1,728
Repairs & maintenance: (5%)
5%-$90-$1,080
Capital expenditures: (5%)
5%-$90-$1,080
HOA fees: (n/a)
n/an/an/a
Total operating expenses: (44%)
44%-$793-$9,510

Cash Flow


Monthly Yearly
Net operating income:
$899 $10,788
Mortgage payments:
-$1,017 -$12,204
Cash flow:
$118 $1,416