2141 N Prospect Rd · Peoria, IL 61603

$110,000

4 bd · 2.5 ba · 2,108 sqft · SingleFamily public records · 1 Days on market

Built 1924 7,405 sqft lot

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Why this score? — see what drove the C 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 +23.9/30.0
• DSCR +7.7/10.0
• ARV discount +7.5/15.0
• 1% rule +5.9/10.0
• Livability +3.7/5.0
• Rent growth +3.4/5.0
• Condition / age +2.5/5.0
• Schools +1.1/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Spacious 4 bedroom home with lots of original woodwork. 3 full floors with loads of potential. Walking distance to Glen Oak Park and Zoo, close to school, restaurants, shopping and transportation. Come take a look today!

Key facts

• Kitchenette area
• 7,405 sq ft lot
• Garage

Tags

• GLEN OAK PARK LOCATION
• WALKING DISTANCE TO ZOO
• LARGE OPEN-CONCEPT SPACE
• DETACHED ONE-CAR GARAGE
• ABUNDANT STORAGE SPACE
• KITCHENETTE AREA

Property features AI

Exterior

• Parking: Detached 1-car garage
• Utilities: Public water; Public sewer; Electric service (standard)
• Home design: Single-family residence; Built in 1924; Shingle roof
• Construction: Partial basement; Total building area approximately 2695
• Exterior features: Level lot; Lot dimensions approximately 52 x 142

Interior

• Kitchen: Main-level kitchen; Third-floor kitchenette
• Bedrooms: 4 bedrooms (beds located on Upper and other levels as described)
• Flooring: Hardwood in some bedrooms; Laminate in multiple rooms including kitchen, living areas, great room and additional rooms; Carpet in basement family room
• Bathrooms: 3 full bathrooms
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Partial basement; No fireplaces; No listed appliances
• Laundry & utility: Gas water heater

What this means for you Summary

Snapshot

• This is a 4-bed/2.5-bath single-family listed at $110k.

Deal economics

• At list price, monthly cash flow is $213 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $110k).
• Cap rate 8.6% 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+, 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.
• Zoned schools: Peoria High School (math 4% / reading 7%, grade F, #609 of 693 statewide, top 88%, 1,447 students, 0% FRL) — zoned schools average 0% FRL vs 70% district-wide (70 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: Rents rising (+3.5%/yr); 104 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 14d on market — plan ~1-2 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 73 units permitted in Peoria County in 2024 (0 in 5+ unit buildings).
• This rent runs 34% 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 $761 of loan paydown is wiped out by about $3k 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

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 21y 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.
• Current owner paid $30k; list at $110k implies a 268% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1924 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $110,000

Questions for the listing agent

1. Built in 1924 — 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. 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. 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.
6. 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.
7. 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: 1.09% ✓
• Cap rate: 8.62%
• Cash-on-cash: 8.31%
• DSCR: 1.37
• GRM: 7.7

CMA / ARV

• ARV (on-the-fly): $65,348
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2407 N Central Ave	0.23mi	3/1.0 (-1)	2,212 (+5%)	6mo	$53,000	$24	66
417 E Arcadia Ave	0.60mi	4/2.0	2,056 (-2%)	7mo	$33,250	$16	60
2217 NE Madison Ave	0.67mi	4/1.0	2,068 (-2%)	4mo	$29,000	$14	57
903 E Republic St	0.24mi	5/2.0 (+1)	1,920 (-9%)	16mo	$30,000	$16	54
1025 E Maywood Ave	0.63mi	4/2.0	2,212 (+5%)	8mo	$115,000	$52	53
1831 N New York Ave	0.60mi	5/2.0 (+1)	2,104 (-0%)	15mo	$71,400	$34	52
1006 E Seneca Pl	0.43mi	3/2.5 (-1)	2,414 (+14%)	13mo	$147,000	$61	40
2624 N Missouri Ave	0.74mi	4/2.0	1,878 (-11%)	8mo	$125,000	$67	38
220 E Frye St	0.75mi	3/2.0 (-1)	1,842 (-13%)	3mo	$56,500	$31	35
1518 NE Monroe St	0.60mi	4/1.5	1,814 (-14%)	13mo	$24,000	$13	34
1916 N Peoria Ave	0.74mi	3/2.0 (-1)	1,817 (-14%)	3mo	$147,000	$81	32
1208 NE Perry Ave	0.69mi	4/1.0	1,833 (-13%)	13mo	$36,500	$20	29

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 · 3.49% rent growth · sell at horizon

5-year hold

• IRR: -3.1%
• Equity multiple: 0.88×
• Total profit: $-3,650
• Equity at exit: $16,401

10-year hold

• IRR: 7.1%
• Equity multiple: 1.54×
• Total profit: $16,763
• Equity at exit: $9,511

Cash invested: $30,800 (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: 7.7×

Monthly cashflow live

• Estimated rent: $1,194 medium
• Mortgage (P&I): −$577
• Tax from tax record: −$108 /mo · $1,292/yr
• Insurance: −$46
• HOA: −$0
• Vacancy / Maint / Mgmt: −$251
• Net cashflow: $213

Break-even live

Break-even rent $925

Max offer price $110,000

Occupancy floor 77%

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: $27,500
• Closing costs: $3,300
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
308 E Archer Ave Peoria, IL	3.0	1.0	1444	$950	$0.66	13d	1	0.68mi
1806 N Peoria Ave Peoria, IL	4.0	1.5	1668	$894	$0.54	13d	1	0.78mi
501 W Columbia Ter Unit 3 Peoria, IL	3.0	1.0	1500	$1,400	$0.93	44d	1	1.40mi

Listing history 2 events

1. 2026-06-13
   remarks 699-char remark
2. 2026-06-13
   listed $110,000 Active 1 DOM

ⓘ 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: $1,292 · $108/mo
• Projected year-2 tax: $1,895 · $158/mo
• Expected delta: +$602/yr (+$50/mo · 46.6%)

ⓘ 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: $14,334
• − Mortgage interest: −$6,162
• − Property taxes: −$1,292
• − Insurance: −$550
• − Repairs & maintenance: −$1,147
• − Management: −$1,147
• − Depreciation: −$3,200
• Taxable income: $836
• Est. tax owed @ 24.0%: −$201
• After-tax cash flow: $2,358/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: 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

+22.4% since first listed

13 events — show timeline

• 2026-06-11 Listed $110,000 RMLSA as Distributed by MLS Grid
• 2026-06-10 Coming Soon $110,000 RMLSA as Distributed by MLS Grid
• 2022-12-30 Sold (MLS) $29,900 RMLSA as Distributed by MLS Grid
• 2022-11-21 Pending — RMLSA as Distributed by MLS Grid
• 2022-10-29 Listed $29,900 RMLSA as Distributed by MLS Grid
• 2021-08-06 Listing Removed — RMLSA as Distributed by MLS Grid
• 2021-08-06 Listing Removed — RMLSA as Distributed by MLS Grid
• 2009-09-29 Sold (Public Records) $80,000 Public Records
• 2009-09-29 Sold (MLS) $80,000 RMLSA as Distributed by MLS Grid
• 2009-06-19 Listed $83,900 RMLSA as Distributed by MLS Grid
• 2005-06-06 Sold (Public Records) $82,000 Public Records
• 2005-06-03 Sold (MLS) $82,000 RMLSA as Distributed by MLS Grid
• 2005-01-22 Listed $89,900 RMLSA as Distributed by MLS Grid

Property tax history

-3.2%/yr

Latest (2025): $1,292 · +6.4% YoY. Source: county tax records.