Real Estate Investing in Oglesby, Illinois (61348)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 61348 (Oglesby, IL)? Our answer, based on the numbers below.
Solid choice — values are growing steadily and the market is stable enough to buy with confidence.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
- Elevated vacancy: 10.8% vacancy may signal weakening demand.
• Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in Oglesby, IL (61348)?
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Market Analysis: 61348 Oglesby
Put differently, ZIP 61348 has challenges — vacancy pressure, softer price growth, and tenant stability concerns sit alongside the $170K median. It rewards specialists, not generalists.
Looking more closely, the numbers look inviting — $170K purchase price, 0.0% nominal cap — the work to hit that pro forma in 61348 is substantial and deserves full respect.
Statewide comparisons place 61348 among IL's softer markets. That context does not make the ZIP uninvestable, but it does raise the bar for due diligence.
Resident income in 61348 sits below the county median. That reality colors rent collection, vacancy, and reinvestment math in ways that outside investors often underestimate.
tilts toward the ZIP is not uninvestable, but it is unforgiving. Section 8 landlords, local operators, and specialized value-add funds are the investor types that tend to succeed.
Here's what matters if you're considering buying a home in Oglesby:
Property Strategy for 61348
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $132,401 | $960 | 5.2% | +9.5% | $66,200 |
| 3BR | $176,548 | $1,280 | 5.2% | +9.2% | $58,849 |
Market Trends
Home Value History (with trend line)
📊 How Does 61348 Compare?
| Metric | 61348 | Oglesby | Ottawa, IL | Illinois |
|---|---|---|---|---|
| Home Value | $169,952 | $169,952 | N/A | $279,761 |
| 5-Year CAGR | 7.0% | 7.0% | N/A | 6.6% |
| Avg Rent | $864 | $864 | N/A | - |
| Cap Rate | 4.0% | 4.0% | - | - |
Similar ZIPs Within 25 Miles
Compare other nearby markets to see if a neighbor offers a better fit.
Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 61348 (Oglesby, IL). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $169,952 |
| Monthly Rent | $864 |
| Price-to-Rent | 16.4:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 6.1% |
| Cap Rate | 4.0% |
| 5-Year IRR | 10.9% |
📈 Home Appreciation
| 1-Year | +7.3% ▲ |
| 3-Year CAGR | +7.7% ▲ |
| 5-Year CAGR | +7.0% ▲ |
| 10-Year CAGR | +5.7% ▲ |
🏠 Rent Trends
| 1-Year | N/A |
| 3-Year CAGR | N/A |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (4.0%). Financing reduces your cash-on-cash return below the cap rate. Markets like this may still make sense as IRR plays — factoring in appreciation, depreciation, and a future refinance when rates drop.
Run an IRR Analysis →⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 61348
Population: 4,397
Crime & Safety
Crime & Safety Data Coming Soon
We're integrating comprehensive crime statistics including violent crime rates, property crime, and safety scores to help you make informed investment decisions.
Expected: Q1 2025
🎓 Schools in 61348
Schools in This ZIP Code
About Repit School Scores
Traditional school ratings rely heavily on standardized test scores, which often reflect family income more than school quality. Repit takes a different approach.
We evaluate schools based on factors that research shows actually impact educational outcomes:
- Class Size — Smaller classes mean more individual attention
- School Funding — Resources available for programs, staff, and facilities
- Community Factors — Neighborhood characteristics that influence student success
- School Environment — Size, type, and structure
Scores are updated annually using federal education data.
🎓 Nearby Colleges & Universities
Investor Insight: With 568 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
How does Oglesby, IL stack up for property investment?
Oglesby, IL stands at an investability rating of 3.0/5, with median home values near $170K and average rents around $864/mo. That combination puts it in the solid tier for investor interest.
Where do home prices stand in Oglesby, IL?
Oglesby, IL home values average about $170K. That price point suits investors targeting rentals with $864/mo in monthly income.
How do experienced investors play Oglesby, IL?
Investors who focus on careful cash-flow rentals with hands-on management typically do well in Oglesby, IL. The numbers - $170K homes against $864/mo rents - support that play.
How strict are landlord regulations in Oglesby, IL?
Oglesby, IL operates under IL law, which is landlord-friendly overall for landlords. Expect stable treatment in typical lease and eviction cases.
How quickly do rentals get leased in Oglesby, IL?
Oglesby, IL carries elevated vacancy risk. Expect consistent absorption at market rents of $864/mo.
You know 61348 now. You don’t know where it ranks.
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How 61348 ranks in Ottawa, IL
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