1802 Prairie Ct · Peoria, IL 61525

$399,000

3 bd · 2.5 ba · 1,781 sqft · SingleFamily public records · 29 Days on market

Built 2002 10,454 sqft lot

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Why this score? — see what drove the F 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).

• ARV discount +7.5/15.0
• Schools +5.3/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Cash flow +1.5/30.0
• 1% rule +0.0/10.0
• DSCR +0.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome home! This gorgeous Northtrail Meadows home has 5 bedrooms, 3.5 bathrooms and offers main level living. Primary bedroom with full bath is large and bright. Laundry on main floor. Living room has cathedral ceilings and opens into the formal dining room and eat in kitchen. Kitchen includes all appliances including additional cooktop in island. Tons of cabinets and counterspace and opens onto the deck overlooking the neighborhood pond. 3 bedrooms upstairs and full bath. Additional bedroom in basement plus full bath. Bar/kitchen in basement has a full sized refrigerator and sink and is perfect for entertaining. Pool table is included for added fun. Dunlap schools. Close to shopping and dining and access to Route 6/I-474. Overall a terrific home.

Key facts

• 0.24 acre lot
• 2 garage spots
• Built 2002

Property features AI

Exterior

• Parking: Attached 2-car garage; On-street parking available; Paved driveway/parking
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Built in 2002
• Construction: Shingle roof; Finished full basement
• Exterior features: Fenced yard; Located on a cul-de-sac; Lake view; Level lot; Paved road

Interior

• Kitchen: Dishwasher; Microwave; Refrigerator
• Bedrooms: 5 bedrooms (including main, upper and basement levels; some bedrooms have egress windows)
• Flooring: Hardwood in several main-level rooms (including living and dining areas and one bedroom); Carpet in upper-level bedrooms and some basement rooms
• Bathrooms: 3 full bathrooms; 1 half bathroom
• Heating & cooling: Central air conditioning; Forced-air heating
• Interior features: Bar; Cable available; Vaulted/cathedral/tray ceilings; Wet bar; High-speed internet; Gas-log fireplace in living room
• Laundry & utility: Gas water heater

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath single-family listed at $399k.

Deal economics

• At list price, monthly cash flow is $-2k ($-19k/yr) — negative.
• To cash-flow at today's rent, offer at most $134k (66.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $160k (60.0% below list).
• Recommended offer: $134k (66.4% below list) — sets the bar for cash-flow.
• Cap rate 1.6% vs local median 5.6% in Peoria — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

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+, crime F.
• Dunlap CUSD 323 (rural): math 57% / reading 61% proficiency, ranked #28 of 620 in IL (top 4%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 10% free/reduced lunch — higher-income household profile.
• Zoned schools: Banner Elementary School (math 52% / reading 47%, grade D, #182 of 2,056 statewide, top 10%, 381 students, 0% FRL); Dunlap High School (math 60% / reading 53%, grade C, #24 of 693 statewide, top 3%, 1,375 students, 0% FRL).
• Market conditions: 76 active listings in the ZIP; 73 units permitted in Peoria County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $12k 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.

Negotiation context

• It's been on market 29 days — a 2% lower offer ($393k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 4y ago; this cycle's ask is 14% above the opening price — seller raised mid-cycle; expect resistance to lowballs.

Recommended offer $134,191 (66.4% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
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. 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?
5. 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?
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: 0.40% ✗
• Cap rate: 1.61%
• Cash-on-cash: -16.72%
• DSCR: 0.26
• GRM: 20.8

CMA / ARV

• ARV (on-the-fly): $260,026
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
11436 N Northtrail Dr	0.20mi	3/2.0	1,647 (-8%)	2mo	$265,000	$161	75
11517 N Brooklyn Pl	0.43mi	3/2.0	1,799 (+1%)	3mo	$330,000	$183	74
11328 N Northtrail Dr	0.09mi	3/3.0	1,925 (+8%)	9mo	$282,000	$146	73
11525 N Brooklyn Pl	0.44mi	2/2.0 (-1)	1,786 (+0%)	10mo	$244,500	$137	64
10914 N Rhonda Way	0.26mi	2/2.0 (-1)	2,031 (+14%)	5mo	$280,000	$138	53
10821 N Sleepy Hollow Rd	0.70mi	3/2.0	1,716 (-4%)	8mo	$210,000	$122	53
1640 W Geneva Rd	0.55mi	3/2.5	2,030 (+14%)	2mo	$260,000	$128	50
2512 Stonehenge Ct Unit 7ASHV	0.72mi	3/3.0	1,847 (+4%)	11mo	$325,000	$176	49
11511 N Brooklyn Pl	0.42mi	2/2.0 (-1)	1,593 (-11%)	10mo	$302,000	$190	48
11518 N Brooklyn Pl	0.41mi	2/2.0 (-1)	1,548 (-13%)	12mo	$290,000	$187	43
10939 N Sleepy Hollow Rd	0.73mi	4/2.0 (+1)	1,962 (+10%)	0mo	$195,000	$99	42
1508 W Woodside Dr	0.74mi	3/1.5	1,974 (+11%)	5mo	$243,000	$123	39

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: -49.2%
• Equity multiple: -0.47×
• Total profit: $-163,730
• Equity at exit: $59,492

10-year hold

• IRR: -96.4%
• Equity multiple: -1.42×
• Total profit: $-269,979
• Equity at exit: $34,498

Cash invested: $111,720 (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 61525

• Home prices YoY: -28.7%
• Active inventory: 76
• Price-to-rent: 20.8×

Monthly cashflow live

• Estimated rent: $1,597 medium
• Mortgage (P&I): −$2,092
• Tax from tax record: −$559 /mo · $6,710/yr
• Insurance: −$166
• HOA: −$0
• Vacancy / Maint / Mgmt: −$335
• Net cashflow: $-1,557

Break-even live

Break-even rent $3,567

Max offer price $134,191

Occupancy floor —

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: $99,750
• Closing costs: $11,970
• Reserves months: —
• Total cash needed: —

Listing history 24 events

1. 2026-06-19
   days on market $399,000 Coming Soon 29 DOM
2. 2026-06-18
   days on market $399,000 Coming Soon 28 DOM
3. 2026-06-17
   days on market $399,000 Coming Soon 27 DOM
4. 2026-06-16
   days on market $399,000 Coming Soon 26 DOM
5. 2026-06-15
   days on market $399,000 Coming Soon 25 DOM
6. 2026-06-14
   days on market $399,000 Coming Soon 23 DOM
7. 2026-06-13
   days on market $399,000 Coming Soon 22 DOM
8. 2026-06-10
   days on market $399,000 Coming Soon 20 DOM
9. 2026-06-09
   days on market $399,000 Coming Soon 19 DOM
10. 2026-06-08
    days on market $399,000 Coming Soon 18 DOM
11. 2026-06-07
    days on market $399,000 Coming Soon 17 DOM
12. 2026-06-05
    days on market $399,000 Coming Soon 14 DOM
13. 2026-06-03
    days on market $399,000 Coming Soon 13 DOM
14. 2026-06-02
    days on market $399,000 Coming Soon 12 DOM
15. 2026-06-01
    days on market $399,000 Coming Soon 11 DOM
16. 2026-05-31
    days on market $399,000 Coming Soon 10 DOM
17. 2026-05-30
    days on market $399,000 Coming Soon 9 DOM
18. 2026-05-21
    historical $399,000
19. 2022-06-10
    soldstatus $349,900 Closed 772-char remark

    Show marketing remark (772 chars)

    Welcome home! This gorgeous Northtrail Meadows home has 5 bedrooms, 3.5 bathrooms and offers main level living. Primary bedroom with full bath is large and bright. Laundry on main floor. Living room has cathedral ceilings and opens into the formal dining room and eat in kitchen. Kitchen includes all appliances including additional cooktop in island. Tons of cabinets and counterspace and opens onto the deck overlooking the neighborhood pond. 3 bedrooms upstairs and full bath. Additional bedroom in basement plus full bath. Bar/kitchen in basement has a full sized refrigerator and sink and is perfect for entertaining. Pool table is included for added fun. Dunlap schools. Close to shopping and dining and access to Route 6/I-474. Overall a terrific home.

20. 2022-05-06
    status Pending 772-char remark

    Show marketing remark (772 chars)

    Welcome home! This gorgeous Northtrail Meadows home has 5 bedrooms, 3.5 bathrooms and offers main level living. Primary bedroom with full bath is large and bright. Laundry on main floor. Living room has cathedral ceilings and opens into the formal dining room and eat in kitchen. Kitchen includes all appliances including additional cooktop in island. Tons of cabinets and counterspace and opens onto the deck overlooking the neighborhood pond. 3 bedrooms upstairs and full bath. Additional bedroom in basement plus full bath. Bar/kitchen in basement has a full sized refrigerator and sink and is perfect for entertaining. Pool table is included for added fun. Dunlap schools. Close to shopping and dining and access to Route 6/I-474. Overall a terrific home.

21. 2022-05-01
    status Active 772-char remark

    Show marketing remark (772 chars)

    Welcome home! This gorgeous Northtrail Meadows home has 5 bedrooms, 3.5 bathrooms and offers main level living. Primary bedroom with full bath is large and bright. Laundry on main floor. Living room has cathedral ceilings and opens into the formal dining room and eat in kitchen. Kitchen includes all appliances including additional cooktop in island. Tons of cabinets and counterspace and opens onto the deck overlooking the neighborhood pond. 3 bedrooms upstairs and full bath. Additional bedroom in basement plus full bath. Bar/kitchen in basement has a full sized refrigerator and sink and is perfect for entertaining. Pool table is included for added fun. Dunlap schools. Close to shopping and dining and access to Route 6/I-474. Overall a terrific home.

22. 2022-05-01
    historical 772-char remark

    Show marketing remark (772 chars)

    Welcome home! This gorgeous Northtrail Meadows home has 5 bedrooms, 3.5 bathrooms and offers main level living. Primary bedroom with full bath is large and bright. Laundry on main floor. Living room has cathedral ceilings and opens into the formal dining room and eat in kitchen. Kitchen includes all appliances including additional cooktop in island. Tons of cabinets and counterspace and opens onto the deck overlooking the neighborhood pond. 3 bedrooms upstairs and full bath. Additional bedroom in basement plus full bath. Bar/kitchen in basement has a full sized refrigerator and sink and is perfect for entertaining. Pool table is included for added fun. Dunlap schools. Close to shopping and dining and access to Route 6/I-474. Overall a terrific home.

23. 2022-04-30
    listed $349,900 Active 772-char remark

    Show marketing remark (772 chars)

    Welcome home! This gorgeous Northtrail Meadows home has 5 bedrooms, 3.5 bathrooms and offers main level living. Primary bedroom with full bath is large and bright. Laundry on main floor. Living room has cathedral ceilings and opens into the formal dining room and eat in kitchen. Kitchen includes all appliances including additional cooktop in island. Tons of cabinets and counterspace and opens onto the deck overlooking the neighborhood pond. 3 bedrooms upstairs and full bath. Additional bedroom in basement plus full bath. Bar/kitchen in basement has a full sized refrigerator and sink and is perfect for entertaining. Pool table is included for added fun. Dunlap schools. Close to shopping and dining and access to Route 6/I-474. Overall a terrific home.

24. 2002-06-05
    soldstatus $270,100

ⓘ 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: $6,710 · $559/mo
• Projected year-2 tax: $7,883 · $657/mo
• Expected delta: +$1,174/yr (+$98/mo · 17.5%)

ⓘ 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 ≥104°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 0% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,158
• − Mortgage interest: −$22,350
• − Property taxes: −$6,710
• − Insurance: −$1,995
• − Repairs & maintenance: −$1,533
• − Management: −$1,533
• − Depreciation: −$11,607
• Taxable loss: −$26,569
• Est. tax savings @ 24.0%: +$6,377
• After-tax cash flow: $-12,302/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: Dunlap CUSD 323
• NCES district ID: 1712700
• Math proficiency: 57% ▼ -3.00%
• Reading proficiency: 61% ▼ -4.00%
• Median HH income: $83,478
• Composite: 53.44/100
• National rank: #1466
• State rank: #28 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
• City population: 114,670
• Population (ZIP): 12,066

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: Majority White (65%)
• Race & ethnicity: White 65% Asian 20% Two or more races 7% Black 6% Hispanic / Latino 4%
• Common ancestry: Italian 3% Scandinavian 3% Romanian 2%
• Foreign-born: 17% · China, Vietnam, Canada
• Languages at home: 76% English-only · Other Indo-European 8% Chinese 4% Other Asian/Pacific 3%

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: ▼ -69.88%
• Current HPI: 173.7861
• Rent YoY: —
• Metro: —
• 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

+47.7% since first listed

7 events — show timeline

• 2026-05-21 Coming Soon $399,000 RMLSA as Distributed by MLS Grid
• 2022-06-10 Sold (MLS) $349,900 RMLSA as Distributed by MLS Grid
• 2022-05-06 Pending — RMLSA as Distributed by MLS Grid
• 2022-05-01 Relisted — RMLSA as Distributed by MLS Grid
• 2022-05-01 Listing Removed — RMLSA as Distributed by MLS Grid
• 2022-04-30 Listed $349,900 RMLSA as Distributed by MLS Grid
• 2002-06-05 Sold (Public Records) $270,100 Public Records

Property tax history

+2.3%/yr

Latest (2024): $6,710 · +4.9% YoY. Source: county tax records.