2419 N Prospect Rd · Peoria, IL 61603

$80,000

6 bd · 3.0 ba · 2,756 sqft · Other public records · 24 Days on market

Built 1930 Good condition ↓ 47% since listing

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Condition / age +4.0/5.0
• Livability +3.7/5.0
• Rent growth +3.4/5.0
• Schools +1.1/10.0
• Appreciation +0.0/10.0

Listing remarks

Calling all Investors! This sober living home is a great opportunity to expand your portfolio. The business, the house, and all the contents are included. It can currently house 7 tenants but can easily get approval for 9 from the city. Current tenants pay $500 a month but that just increased to $600. There& apos; s also room to expand into the third floor and increase the occupancy to 14. Updates within the last 2 years include: roof, plumbing, electrical, doors, windows, flooring, water heater, 4 car concrete driveway, and much more.

Key facts

• Plumbing
• Roof
• Doors

Tags

• EXPAND INTO THIRD FLOOR
• ROOF
• PLUMBING
• ELECTRICAL
• DOORS
• WINDOWS

What this means for you Summary

Snapshot

• This is a 6-bed/3.0-bath other listed at $80k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $499 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $80k).
• Recommended offer: $79k (1.5% below list) — sets the bar for market timing.
• Cap rate 13.8% vs local median 5.6% in Peoria — 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 73/100 on livability (#270 in IL) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: employment D+, schools F, crime F.
• Peoria SD 150 (urban): math 11% / reading 14% proficiency, ranked #554 of 620 in IL (top 89%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 70% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising (+3.5%/yr); 104 active listings in the ZIP; lower-income renter base — watch delinquency; 73 units permitted in Peoria County in 2024 (0 in 5+ unit buildings).
• This rent runs 45% of the median local income ($42k/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 $553 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Peoria County population projected at -11% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.5% rent growth), your $22k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 24 days — a 2% lower offer ($79k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 4y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Watch-outs: property tax is 4.1% of price; built in 1930 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $78,800 (1.5% below list)

Questions for the listing agent

1. Built in 1930 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
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: 1.94% ✓
• Cap rate: 13.78%
• Cash-on-cash: 26.75%
• DSCR: 2.19
• GRM: 4.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.49% rent growth · sell at horizon

5-year hold

• IRR: 21.4%
• Equity multiple: 1.88×
• Total profit: $19,744
• Equity at exit: $11,928

10-year hold

• IRR: 29.9%
• Equity multiple: 3.76×
• Total profit: $61,875
• Equity at exit: $6,917

Cash invested: $22,400 (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 61603

• Home prices YoY: -31.8%
• Rents YoY: 3.5%
• Active inventory: 104
• Price-to-rent: 4.3×

Monthly cashflow live

• Estimated rent: $1,555 medium
• Mortgage (P&I): −$420
• Tax from tax record: −$276 /mo · $3,311/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$326
• Net cashflow: $499

Break-even live

Break-even rent $922

Max offer price $80,000

Occupancy floor 63%

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: $20,000
• Closing costs: $2,400
• Reserves months: —
• Total cash needed: —

Listing history 39 events

1. 2026-06-19
   days on market $80,000 Active 24 DOM
2. 2026-06-18
   days on market $80,000 Active 23 DOM
3. 2026-06-17
   days on market $80,000 Active 22 DOM
4. 2026-06-16
   days on market $80,000 Active 21 DOM
5. 2026-06-15
   days on market $80,000 Active 20 DOM
6. 2026-06-14
   days on market $80,000 Active 18 DOM
7. 2026-06-13
   days on market $80,000 Active 17 DOM
8. 2026-06-10
   days on market $80,000 Active 15 DOM
9. 2026-06-09
   days on market $80,000 Active 14 DOM
10. 2026-06-08
    days on market $80,000 Active 13 DOM
11. 2026-06-07
    days on market $80,000 Active 12 DOM
12. 2026-06-03
    days on market $80,000 Active 8 DOM
13. 2026-06-02
    days on market $80,000 Active 7 DOM
14. 2026-06-01
    days on market $80,000 Active 6 DOM
15. 2026-05-31
    days on market $80,000 Active 5 DOM
16. 2026-05-30
    days on market $80,000 Active 4 DOM
17. 2026-05-26
    listed $80,000 Active
18. 2025-12-17
    historical
19. 2025-09-22
    historical
20. 2025-05-16
    listed Active
21. 2024-07-31
    historical
22. 2024-07-22
    price
23. 2024-07-10
    price
24. 2024-07-02
    price
25. 2024-06-25
    listed Active
26. 2024-05-31
    historical
27. 2024-04-30
    price
28. 2024-01-20
    price
29. 2023-12-30
    price
30. 2023-10-31
    price
31. 2023-10-16
    listed Active
32. 2022-10-31
    historical
33. 2022-10-13
    soldstatus $130,000
34. 2022-10-07
    soldstatus $130,000 Closed
35. 2022-09-01
    status Pending
36. 2022-05-16
    status Active
37. 2022-05-16
    listed Active
38. 2022-04-14
    historical
39. 2022-04-07
    listed $149,900

ⓘ 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: $3,311 · $276/mo
• Projected year-2 tax: $3,311 · $276/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 · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥105°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 1 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,655
• − Mortgage interest: −$4,481
• − Property taxes: −$3,311
• − Insurance: −$400
• − Repairs & maintenance: −$1,492
• − Management: −$1,492
• − Depreciation: −$2,327
• Taxable income: $5,151
• Est. tax owed @ 24.0%: −$1,236
• After-tax cash flow: $4,756/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.

Condition & rehab AI · 1 photo

Good 80/100 Cosmetic rehab

This sober living home is in good condition with recent updates, making it a solid investment opportunity for expansion and rental potential.

Value-add opportunities

• Both Painting exterior and interior walls — Enhances curb appeal and interior aesthetics
• Both Landscaping improvements — Enhances curb appeal and creates a more inviting environment
• Both Upgrading windows to energy-efficient models — Reduces energy costs and enhances home value
• Both Upgrading HVAC system — Improves comfort and energy efficiency

Renovation cost estimate screening

Value-add ROI direction

• Both Painting exterior and interior walls — Enhances curb appeal and interior aesthetics ↑
• Both Landscaping improvements — Enhances curb appeal and creates a more inviting environment ↑
• Both Upgrading windows to energy-efficient models — Reduces energy costs and enhances home value ↑
• Both Upgrading HVAC system — Improves comfort and energy efficiency ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Peoria SD 150
• NCES district ID: 1731230
• Math proficiency: 11% ▼ -5.00%
• Reading proficiency: 14% ▼ -4.00%
• Median HH income: $41,951
• Composite: 10.92/100
• National rank: #9751
• State rank: #554 of 620 in IL

Livability — Peoria

• Score: 73/100
• State rank: #270
• US rank: #5096

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Peoria, IL
• County: Peoria County · 120,495 people
• City population: 114,670
• Metro: Peoria, IL
• Population (ZIP): 15,356
• Household income: $41,618
• Rent vs Own: 47.1% rent · 52.9% own
• Severe rent burden: 849.0

Population outlook (Peoria County) Hauer SSP2

• Today (2025): 183,007 people
• By 2030: 179,643 · -1.8%
• By 2040: 171,782 · -6.1%
• By 2050: 163,508 · -10.7%
• By 2075: 140,178 · -23.4%
• By 2100: 114,493 · -37.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.68)
• Race & ethnicity: Black 43% White 36% Two or more races 12% Hispanic / Latino 10% Asian 1%
• Hispanic origin (detail): Mexican 7%
• Common ancestry: Italian 2% Slovak 1% Lithuanian 1%
• Foreign-born: 7% · Canada
• Languages at home: 91% English-only · Spanish 6% Tagalog/Filipino 1%

Political lean MEDSL · Peoria

• 2024 margin: Toss-up / Even · D 51.5% · R 46.9% · Other 1.6%
• 2008→2024 swing: -9.2pp toward R · 2008: 13.9pp · 2024: 4.7pp
• All cycles: 2024: D+4.7 2020: D+6.3 2016: D+2.8 2012: D+4.4 2008: D+13.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -65.98%
• Current HPI: 141.5343
• Rent YoY: ▲ 3.49%
• Metro: Peoria, 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

-46.6% since first listed

23 events — show timeline

• 2026-05-26 Listed $80,000 FSBO.com
• 2025-12-17 Listing Removed — MRED as Distributed by MLS Grid
• 2025-09-22 Listing Removed — RMLSA as Distributed by MLS Grid
• 2025-05-16 Listed — RMLSA as Distributed by MLS Grid
• 2024-07-31 Listing Removed — RMLSA as Distributed by MLS Grid
• 2024-07-22 Price Changed — RMLSA as Distributed by MLS Grid
• 2024-07-10 Price Changed — RMLSA as Distributed by MLS Grid
• 2024-07-02 Price Changed — RMLSA as Distributed by MLS Grid
• 2024-06-25 Listed — RMLSA as Distributed by MLS Grid
• 2024-05-31 Listing Removed — RMLSA as Distributed by MLS Grid
• 2024-04-30 Price Changed — RMLSA as Distributed by MLS Grid
• 2024-01-20 Price Changed — RMLSA as Distributed by MLS Grid
• 2023-12-30 Price Changed — RMLSA as Distributed by MLS Grid
• 2023-10-31 Price Changed — RMLSA as Distributed by MLS Grid
• 2023-10-16 Listed — RMLSA as Distributed by MLS Grid
• 2022-10-31 Listing Removed — MRED as Distributed by MLS Grid
• 2022-10-13 Sold (Public Records) $130,000 Public Records
• 2022-10-07 Sold (MLS) $130,000 RMLSA as Distributed by MLS Grid
• 2022-09-01 Pending — RMLSA as Distributed by MLS Grid
• 2022-05-16 Relisted — RMLSA as Distributed by MLS Grid
• 2022-05-16 Listed — MRED as Distributed by MLS Grid
• 2022-04-14 Listing Removed — RMLSA as Distributed by MLS Grid
• 2022-04-07 Listed $149,900 RMLSA as Distributed by MLS Grid

Property tax history

+15.6%/yr

Latest (2024): $3,311 · +6.4% YoY. Source: county tax records.