1219 Sheridan Rd · Peoria, IL 61606

$114,000

2 bd · 1.0 ba · 816 sqft · SingleFamily public records · 52 Days on market

Built 1919 ↓ 15% since listing

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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 +21.7/30.0
• ARV discount +7.5/15.0
• DSCR +6.9/10.0
• 1% rule +4.4/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.1/10.0
• Appreciation +0.0/10.0

Listing remarks

This 3-bedroom home offers comfortable living with great storage and inviting outdoor spaces. The main floor features a nicely updated bathroom, a spacious family room, and a bright 3-season room with vinyl windows and a new front door. Main floor bedrooms include deep closets for plenty of storage. Upstairs you’ll find a private primary bedroom with a convenient half bath and additional attic storage. Outside, enjoy beautiful flower beds in the front yard and perennial plantings in the backyard. The deck provides a great space for relaxing or entertaining. Storage won’t be an issue with a potting shed attached to the garage plus a second shed for yard tools and equipment. Come

Key facts

• Deep closets
• Attic storage
• Updated bathroom

Tags

• UPDATED BATHROOM
• SPACIOUS FAMILY ROOM
• 3-SEASON ROOM
• DEEP CLOSETS
• PRIVATE PRIMARY BEDROOM
• ATTIC STORAGE

Property features AI

Finance

• HOA & community: No association fee

Exterior

• Parking: Detached, paved 2-car garage
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Level lot; Property located in the William Russell subdivision
• Construction: Built in 1919; Slate roof; Crawl space and daylight basement areas; Basement partially finished and partially unfinished
• Exterior features: Fenced yard; Shed(s); Replacement windows; Paved road access

Interior

• Kitchen: Dishwasher; Refrigerator
• Bedrooms: Three bedrooms (Bedroom 1 and Bedroom 2 on the main level; Bedroom 3 on the upper level)
• Flooring: Carpet in most bedrooms and some living spaces; Laminate in dining area and kitchen; Other flooring in basement utility/storage areas
• Bathrooms: One full bathroom; One half bathroom
• Heating & cooling: Central air conditioning; Forced air heating; Gas water heater
• Interior features: Attic storage; Cable available; Ceiling fans; High-speed internet; Water softener (rented)
• Laundry & utility: Washer; Dryer; Separate laundry room (basement)

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $114k.

Deal economics

• At list price, monthly cash flow is $175 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $107k (6.2% below list).
• Recommended offer: $107k (6.2% below list) — sets the bar for 1% rule.
• Cap rate 8.1% 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: 33 active listings in the ZIP; 24 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 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 33% of the median local income ($39k/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 $788 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

• It's been on market 52 days — a 3% lower offer ($111k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1919 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $106,928 (6.2% below list)

Questions for the listing agent

1. It's been on market 52 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1919 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 0.94% ✗
• Cap rate: 8.14%
• Cash-on-cash: 6.60%
• DSCR: 1.29
• GRM: 8.9

CMA / ARV

• ARV (on-the-fly): $58,752
• Comps found: 9

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1623 N Broadway St	0.38mi	2/1.0	780 (-4%)	10mo	$52,000	$67	66
904 W Armstrong Ave	0.23mi	2/1.0	764 (-6%)	15mo	$62,500	$82	66
1104 W Rice St	0.71mi	2/1.0	784 (-4%)	8mo	$56,250	$72	53
2018 Gale Ave	0.69mi	2/1.0	799 (-2%)	14mo	$37,500	$47	53
305 W Nebraska Ave	0.62mi	2/1.0	895 (+10%)	9mo	$19,000	$21	48
1830 N Gale Ave	0.52mi	1/1.0 (-1)	740 (-9%)	15mo	$24,900	$34	43
1327 N Bourland Ave	0.35mi	2/1.0	936 (+15%)	22mo	$69,900	$75	41
1913 N Bigelow St	0.65mi	3/1.5 (+1)	932 (+14%)	17mo	$70,000	$75	25
1819 N Underhill St	0.65mi	3/1.0 (+1)	925 (+13%)	22mo	$68,000	$74	24

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: -6.2%
• Equity multiple: 0.77×
• Total profit: $-7,356
• Equity at exit: $16,998

10-year hold

• IRR: 3.4%
• Equity multiple: 1.24×
• Total profit: $7,752
• Equity at exit: $9,857

Cash invested: $31,920 (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 61606

• Home prices YoY: -34.0%
• Active inventory: 33
• Price-to-rent: 8.9×

Monthly cashflow live

• Estimated rent: $1,069 high
• Mortgage (P&I): −$598
• Tax from tax record: −$24 /mo · $288/yr
• Insurance: −$48
• HOA: −$0
• Vacancy / Maint / Mgmt: −$225
• Net cashflow: $175

Break-even live

Break-even rent $847

Max offer price $114,000

Occupancy floor 79%

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: $28,500
• Closing costs: $3,420
• Reserves months: —
• Total cash needed: —

Rent comps 24 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
511 W Elizabeth St Unit A Peoria, IL	1.0	1.0	850	$800	$0.94	44d	1	0.14mi
911 N Sheridan Rd Unit A4 Peoria, IL	2.0	1.0	825	$850	$1.03	44d	1	0.32mi
911 N Sheridan Rd Unit a1 Peoria, IL	2.0	1.0	825	$850	$1.03	13d	1	0.32mi
416 W Main St Unit A Peoria, IL	2.0	1.0	1050	$950	$0.90	44d	1	0.32mi
905 N Sheridan Rd Unit F Peoria, IL	1.0	1.0	650	$900	$1.38	44d	1	0.33mi
1703 N Valley Ave Peoria, IL	2.0	1.0	676	$1,200	$1.78	13d	1	0.52mi
1505 N Peoria Ave Peoria, IL	1.0	1.0	525	$1,006	$1.92	13d	4	0.63mi
2023 N Underhill St Peoria, IL	3.0	1.0	1050	$1,200	$1.14	13d	1	0.77mi
903 W Brons Ave Peoria, IL	3.0	1.0	971	$995	$1.02	44d	1	0.80mi
2207 N Ellis St Peoria, IL	2.0	1.0	864	$999	$1.16	13d	1	0.80mi
905 W Thrush Ave Peoria, IL	2.0	1.0	750	$950	$1.27	21d	1	0.86mi
2214 N Linsley St Peoria, IL	2.0	1.0	575	$550	$0.96	44d	1	0.87mi
901 NE Glen Oak Ave Unit 2 Peoria, IL	3.0	1.0	1120	$1,200	$1.07	21d	1	0.91mi
123 SW Jefferson Ave Unit E6W Peoria, IL	2.0	1.0	868	$1,495	$1.72	21d	1	0.93mi
123 SW Jefferson Ave Unit E15SW Peoria, IL	2.0	2.0	1100	$1,750	$1.59	13d	1	0.93mi
812 W Macqueen Ave Peoria, IL	2.0	1.0	822	$795	$0.97	44d	1	0.95mi
1220 W John H Gwynn Jr Ave Peoria, IL	2.0	1.0	853	$745	$0.87	21d	1	1.02mi
1401 W Adrian G Hinton Ave Peoria, IL	2.0	1.0	1100	$775	$0.70	44d	1	1.09mi
311 SW Water St Unit 301 Peoria, IL	1.0	1.0	635	$1,300	$2.05	44d	1	1.23mi
100 Walnut St Peoria, IL	2.0	2.0	1102	$2,000	$1.81	13d	1	1.27mi
812 SW Washington St Unit 2 Peoria, IL	2.0	1.0	700	$1,275	$1.82	13d	1	1.31mi
812 SW Washington St Peoria, IL	2.0	1.0	640	$1,200	$1.88	13d	1	1.31mi
214 Pecan St Peoria, IL	2.0	1.0	1050	$1,595	$1.52	13d	1	1.43mi
1540 W Kettelle St Peoria, IL	3.0	1.0	1001	$748	$0.75	13d	1	1.46mi

Listing history 4 events

1. 2026-04-27
   status Pending
2. 2026-04-10
   price $114,000
3. 2026-03-23
   price $124,000
4. 2026-03-06
   listed $134,240 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: $288 · $24/mo
• Projected year-2 tax: $1,438 · $120/mo
• Expected delta: +$1,150/yr (+$96/mo · 399.8%)

ⓘ 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 · 17 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: $12,831
• − Mortgage interest: −$6,386
• − Property taxes: −$288
• − Insurance: −$570
• − Repairs & maintenance: −$1,027
• − Management: −$1,027
• − Depreciation: −$3,316
• Taxable income: $219
• Est. tax owed @ 24.0%: −$52
• After-tax cash flow: $2,053/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): 6,684
• Household income: $39,196
• Rent vs Own: 57.9% rent · 42.1% own
• Severe rent burden: 620.0

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: Predominantly White (66%)
• Race & ethnicity: White 66% Black 17% Two or more races 9% Hispanic / Latino 8% Asian 3%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Romanian 4% Slovak 2% Lithuanian 2%
• Foreign-born: 4% · Vietnam, Canada
• Languages at home: 94% English-only · Spanish 3% Other Indo-European 1% Chinese 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: ▼ -85.67%
• Current HPI: 166.329
• Rent YoY: —
• 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

-15.1% since first listed

4 events — show timeline

• 2026-04-27 Pending — RMLSA as Distributed by MLS Grid
• 2026-04-10 Price Changed $114,000 RMLSA as Distributed by MLS Grid
• 2026-03-23 Price Changed $124,000 RMLSA as Distributed by MLS Grid
• 2026-03-06 Listed $134,240 RMLSA as Distributed by MLS Grid

Property tax history

+12.9%/yr

Latest (2024): $288 · +3292.0% YoY. Source: county tax records.