Real Estate Investing in Paw Paw, Illinois (61353)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 61353 (Paw Paw, IL)? Our answer, based on the numbers below.
Mixed signals — some positives, some negatives. Worth considering but not a slam-dunk.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
- High vacancy: 20.0% of homes vacant — above national norms.
• Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in Paw Paw, IL (61353)?
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Market Analysis: 61353 Paw Paw
The 61353 ZIP in Paw Paw, IL is a local-operator market. Outside capital chasing a $236K entry has to pair deep knowledge with the discount.
Distressed markets are won on execution, not on spreadsheets. ZIP 61353 records the profile where tenant screening, deferred maintenance, and local relationships determine the outcome.
Nearby ZIPs in Paw Paw have seen price recovery that 61353 has not matched. Lee County data supports the view that the spread is structural rather than temporary.
The 61353 ZIP's population of 1,219 has faced economic pressure over the last decade. That pressure shows up in rent delinquency patterns that records the need for careful underwriting.
The 61353 ZIP fits a narrow investor profile — hands-on, patient, and willing to accept that the cap rate on paper is not the cap rate in reality.
Here's what matters if you're considering buying a home in Paw Paw:
Market Trends
Home Value History (with trend line)
📊 How Does 61353 Compare?
| Metric | 61353 | Paw Paw | Dixon, IL | Illinois |
|---|---|---|---|---|
| Home Value | $235,879 | $235,879 | N/A | $279,761 |
| 5-Year CAGR | 5.4% | 5.4% | N/A | 6.6% |
| Avg Rent | $1,125 | $1,125 | N/A | - |
| Cap Rate | 3.7% | 3.7% | - | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 61353 (Paw Paw, IL). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $235,879 |
| Monthly Rent | $1,125 |
| Price-to-Rent | 17.5:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 5.7% |
| Cap Rate | 3.7% |
| 5-Year IRR | 9.1% |
📈 Home Appreciation
| 1-Year | +9.4% ▲ |
| 3-Year CAGR | +7.8% ▲ |
| 5-Year CAGR | +5.4% ▲ |
| 10-Year CAGR | +9.7% ▲ |
🏠 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 (3.7%). 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 61353
Population: 1,219
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 61353
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.
Frequently Asked Questions
Where do rents currently stand in Paw Paw, IL?
Investors in Paw Paw, IL typically see rents near $1,125/mo per month against $236K home values - a solid setup for rental cash flow.
How deep is the rental pool in Paw Paw, IL?
The tenant pool in Paw Paw, IL is solid, supported by local employment and population fundamentals. Rents of $1,125/mo are well-absorbed by the market.
Is IL a landlord-friendly state?
Landlord-friendliness in Paw Paw, IL is landlord-friendly. Eviction timelines and lease enforcement are considered reasonable by most property managers.
What does house hacking look like in Paw Paw, IL?
For house hackers, Paw Paw, IL is a challenging. The $1,125/mo rent on a unit helps defray the mortgage on a $236K property.
Where do home prices stand in Paw Paw, IL?
Paw Paw, IL median home values land near $236K. That is reasonable territory for investors looking at $1,125/mo-per-month rentals.
You know 61353 now. You don’t know where it ranks.
This page stays free — all of it. What one page can’t tell you is how 61353 compares to every other market. Investor ($19/mo) screens every U.S. ZIP by cap rate, the 1% rule, vacancy and landlord climate, and exports your shortlist.
How 61353 ranks in Dixon, IL
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