828 N Main St · East Peoria, IL 61611

$38,000

3 bd · 1.0 ba · 888 sqft · SingleFamily public records · 23 Days on market

Built 1935

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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
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.5/10.0
• Appreciation +0.0/10.0

Listing remarks

"Charming 1-bedroom home with a sitting area, office, dining room, and kitchen. This property offers plenty of potential for someone ready to bring their vision and creativity. The home is in need of significant updating and improvements, making it a great opportunity for an investor, handyman, or buyer looking for a project. Situated on a large hill lot with ample outdoor space and possibilities. " One stall attached garage. Sold As Is

Key facts

• Office
• Ample outdoor space
• Kitchen

Tags

• SITTING AREA
• OFFICE
• DINING ROOM
• KITCHEN
• LARGE HILL LOT
• AMPLE OUTDOOR SPACE

Property features AI

Finance

• Other: Lot dimensions approximately 99 x 555 x 96 x 548; Subdivision: Du Pont

Exterior

• Parking: Attached underground garage with 1 garage space
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Living area listed as 888; Built in 1935; Residential zoning
• Construction: Shingle roof; Not new construction
• Exterior features: Wooded, sloped lot; Paved road access

Interior

• Kitchen: Kitchen on main level (approx. 12.06 x 9.05)
• Bedrooms: 1 bedroom on the main level (approx. 10 x 11.06) with egress window
• Flooring: Vinyl flooring in kitchen, dining room, office, additional room and bedroom; Other flooring in living room
• Bathrooms: 1 full bathroom
• Interior features: Full basement; No fireplaces
• Laundry & utility: Laundry room in basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $38k.

Deal economics

• At list price, monthly cash flow is $778 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $38k).
• Recommended offer: $37k (1.5% below list) — sets the bar for market timing.
• Cap rate 30.9% vs local median 4.6% in East 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 75/100 on livability (#209 in IL, #3,927 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities D, commute F.
• East Peoria Chsd 309 (suburban): math 17% / reading 15% proficiency, ranked #482 of 620 in IL (top 78%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: East Peoria High School (math 17% / reading 15%, grade F, #457 of 693 statewide, top 66%, 947 students, 0% FRL).
• Market conditions: 145 active listings in the ZIP; 77 units permitted in Tazewell County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $263 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Tazewell County population projected at -15% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $11k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 23 days — a 2% lower offer ($37k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1935 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $37,430 (1.5% below list)

Questions for the listing agent

1. Built in 1935 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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.
5. 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.
6. 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: 3.34% ✓
• Cap rate: 30.87%
• Cash-on-cash: 87.77%
• DSCR: 4.91
• GRM: 2.5

CMA / ARV

• ARV (on-the-fly): $89,688
• Comps found: 5

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
112 Arnold Ave	0.41mi	3/1.0	1,012 (+14%)	2mo	$102,000	$101	56
147 Caroline St	0.68mi	2/1.0 (-1)	813 (-8%)	2mo	$109,000	$134	48
116 Linden St	0.68mi	2/1.0 (-1)	824 (-7%)	19mo	$95,000	$115	36
105 Moschel St	0.67mi	3/1.0	984 (+11%)	23mo	$72,000	$73	31
326 E Sheen St	0.63mi	2/1.0 (-1)	1,016 (+14%)	20mo	$100,100	$99	25

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: 88.3%
• Equity multiple: 5.08×
• Total profit: $43,405
• Equity at exit: $5,666

10-year hold

• IRR: 91.4%
• Equity multiple: 10.55×
• Total profit: $101,605
• Equity at exit: $3,286

Cash invested: $10,640 (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 61611

• Home prices YoY: -30.8%
• Active inventory: 145
• Price-to-rent: 2.5×

Monthly cashflow live

• Estimated rent: $1,271 medium
• Mortgage (P&I): −$199
• Tax from tax record: −$10 /mo · $125/yr
• Insurance: −$16
• HOA: −$0
• Vacancy / Maint / Mgmt: −$267
• Net cashflow: $778

Break-even live

Break-even rent $285

Max offer price $38,000

Occupancy floor 34%

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: $9,500
• Closing costs: $1,140
• Reserves months: —
• Total cash needed: —

Listing history 10 events

1. 2026-06-13
   statusdays on market $38,000 Pending 23 DOM
2. 2026-06-10
   days on market $38,000 Active 21 DOM
3. 2026-06-09
   days on market $38,000 Active 20 DOM
4. 2026-06-08
   days on market $38,000 Active 19 DOM
5. 2026-06-07
   days on market $38,000 Active 18 DOM
6. 2026-06-02
   days on market $38,000 Active 13 DOM
7. 2026-06-01
   days on market $38,000 Active 12 DOM
8. 2026-05-31
   days on market $38,000 Active 11 DOM
9. 2026-05-30
   days on market $38,000 Active 10 DOM
10. 2026-05-20
    listed $38,000 Active

ⓘ 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: $125 · $10/mo
• Projected year-2 tax: $494 · $41/mo
• Expected delta: +$369/yr (+$31/mo · 294.9%)

ⓘ 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 (unshaded) · 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 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: $15,247
• − Mortgage interest: −$2,129
• − Property taxes: −$125
• − Insurance: −$190
• − Repairs & maintenance: −$1,220
• − Management: −$1,220
• − Depreciation: −$1,105
• Taxable income: $9,258
• Est. tax owed @ 24.0%: −$2,222
• After-tax cash flow: $7,117/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: East Peoria Chsd 309
• NCES district ID: 1713230
• Math proficiency: 17% ▼ -6.00%
• Reading proficiency: 15% ▼ -9.00%
• Median HH income: $51,439
• Composite: 14.75/100
• National rank: #9394
• State rank: #482 of 620 in IL

Livability — East Peoria

• Score: 75/100
• State rank: #209
• US rank: #3927

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: East Peoria, IL
• City population: 23,698
• Population (ZIP): 23,698

Population outlook (Tazewell County) Hauer SSP2

• Today (2025): 131,252 people
• By 2030: 128,028 · -2.5%
• By 2040: 120,443 · -8.2%
• By 2050: 111,872 · -14.8%
• By 2075: 89,843 · -31.5%
• By 2100: 66,468 · -49.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (92%)
• Race & ethnicity: White 92% Two or more races 4% Hispanic / Latino 3% Black 1%
• Common ancestry: Lithuanian 3% Italian 2% Romanian 2%
• Foreign-born: 1%
• Languages at home: 98% English-only · Spanish 1%

Political lean MEDSL · Tazewell

• 2024 margin: Strong R (+26.7) · D 35.8% · R 62.5% · Other 1.8%
• 2008→2024 swing: -20.6pp toward R · 2008: -6.0pp · 2024: -26.7pp
• All cycles: 2024: R+26.7 2020: R+25.6 2016: R+28.5 2012: R+17.9 2008: R+6.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -71.82%
• Current HPI: 161.385
• 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

1 event — show timeline

• 2026-05-20 Listed $38,000 RMLSA as Distributed by MLS Grid

Property tax history

+38.9%/yr

Latest (2024): $125 · +38.9% YoY. Source: county tax records.