316 S Limestone Ave · Bellevue, IL 61604

$130,000

3 bd · 1.0 ba · 1,326 sqft · SingleFamily public records · 48 Days on market

Built 1938 8,000 sqft lot Est $155k · 16% under

---

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 +19.2/30.0
• ARV discount +14.8/15.0
• DSCR +6.1/10.0
• 1% rule +5.6/10.0
• Livability +3.2/5.0
• Rent growth +3.1/5.0
• Schools +2.9/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

HOME SOLD AS-IS* VERY NICE SIZED 3-4 BEDROOM HOME IN BELLEVUE* LARGE GARAGE, FINISHED BASEMENT, NEWER SIDING & KITCHEN* CALL 657-8182 FOR DETAILS*

Key facts

• Enclosed back porch
• Laundry area
• Rec room

Tags

• RENOVATED KITCHEN
• ENCLOSED BACK PORCH
• FENCED IN YARD
• LAUNDRY AREA
• PLAY ROOM
• REC ROOM

Property features AI

Exterior

• Parking: Detached 2-car garage
• Utilities: Public water; Public sewer; Electric service (standard)
• Home design: Single family residence; Shingle roof; Built in 1938; Living area approximately 1326
• Construction: Year built 1938
• Exterior features: Level lot; Lot dimensions approximately 50 x 160

Interior

• Kitchen: Kitchen with refrigerator and microwave
• Bedrooms: 4 bedrooms total; Main-level bedroom (11' x 11') with egress window; Main-level bedroom (12' x 10') with egress window; Upper-level bedroom (14' x 11') with egress window; Upper-level bedroom (12' x 12') with egress window
• Flooring: Luxury vinyl plank flooring in main living areas and some bedrooms; Carpet in upper-level bedrooms
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Microwave; Refrigerator; Full, partially finished basement; No fireplaces
• Laundry & utility: Laundry room in basement; Gas water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $130k.

Deal economics

• At list price, monthly cash flow is $140 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $130k).
• Recommended offer: $126k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 65/100 on livability (#601 in IL) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: employment C-, amenities F, commute F.
• Limestone Chsd 310 (rural): math 25% / reading 35% proficiency, ranked #486 of 919 in IL (top 53%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Limestone Community High School (math 17% / reading 22%, grade F, #397 of 693 statewide, top 61%, 924 students, 0% FRL).
• Market conditions: Rents rising (+2.3%/yr); 180 active listings in the ZIP; 73 units permitted in Peoria County in 2024 (0 in 5+ unit buildings).
• This rent runs 31% of the median local income ($52k/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 $899 of loan paydown is wiped out by about $4k 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 48 days — a 3% lower offer ($126k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 27y 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 $65k; list at $130k implies a 100% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1938 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $126,100 (3.0% below list)

Questions for the listing agent

1. It's been on market 48 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1938 — 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 D-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. 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: 1.06% ✓
• Cap rate: 7.58%
• Cash-on-cash: 4.61%
• DSCR: 1.21
• GRM: 7.9

CMA / ARV

• ARV (on-the-fly): $155,142
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
316 S Limestone Ave	0.00mi	4/1.0 (+1)	1,326 (0%)	1mo	$130,000	$98	94
406 S Limestone Ave	0.04mi	3/2.0	1,320 (-0%)	16mo	$175,000	$133	80
537 S Byron Ct	0.29mi	2/1.0 (-1)	1,383 (+4%)	6mo	$95,000	$69	69
5610 W Overland Pass	0.58mi	3/1.0	1,308 (-1%)	3mo	$189,900	$145	68
324 S Main St	0.07mi	3/2.0	1,248 (-6%)	18mo	$100,000	$80	68
622 S Byron Ct	0.38mi	3/1.5	1,381 (+4%)	13mo	$161,700	$117	62
213 N Eisele Dr	0.51mi	3/1.0	1,248 (-6%)	6mo	$130,000	$104	62
1015 S Mesa Dr	0.59mi	3/1.5	1,287 (-3%)	12mo	$208,500	$162	56
4823 W Closen Ave	0.46mi	3/2.0	1,164 (-12%)	9mo	$135,000	$116	47
625 N Tower Rd	0.70mi	2/1.0 (-1)	1,278 (-4%)	16mo	$144,900	$113	43
4815 W Plank Rd	0.48mi	3/2.0	1,489 (+12%)	15mo	$430,000	$289	40
5624 W Cherokee Path	0.68mi	2/2.0 (-1)	1,188 (-10%)	7mo	$190,000	$160	36

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 · 2.3% rent growth · sell at horizon

5-year hold

• IRR: -9.9%
• Equity multiple: 0.64×
• Total profit: $-13,067
• Equity at exit: $19,383

10-year hold

• IRR: -1.5%
• Equity multiple: 0.90×
• Total profit: $-3,591
• Equity at exit: $11,240

Cash invested: $36,400 (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 61604

• Home prices YoY: -24.6%
• Rents YoY: 2.3%
• Active inventory: 180
• Price-to-rent: 7.9×

Monthly cashflow live

• Estimated rent: $1,372 medium
• Mortgage (P&I): −$682
• Tax from tax record: −$208 /mo · $2,501/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$288
• Net cashflow: $140

Break-even live

Break-even rent $1,195

Max offer price $130,000

Occupancy floor 85%

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: $32,500
• Closing costs: $3,900
• Reserves months: —
• Total cash needed: —

Listing history 8 events

1. 2026-04-16
   historical Under Contract
2. 2026-04-11
   listed $130,000 Active
3. 2002-01-25
   soldstatus $65,000
4. 2002-01-24
   soldstatus $69,000 150-char remark

   Show marketing remark (150 chars)

   HOME SOLD AS-IS* VERY NICE SIZED 3-4 BEDROOM HOME IN BELLEVUE* LARGE GARAGE, FINISHED BASEMENT, NEWER SIDING & KITCHEN* CALL 657-8182 FOR DETAILS*

5. 2001-11-23
   listed $79,900 150-char remark

   Show marketing remark (150 chars)

   HOME SOLD AS-IS* VERY NICE SIZED 3-4 BEDROOM HOME IN BELLEVUE* LARGE GARAGE, FINISHED BASEMENT, NEWER SIDING & KITCHEN* CALL 657-8182 FOR DETAILS*

6. 1999-12-16
   soldstatus $70,000
7. 1999-12-14
   soldstatus $70,000
8. 1999-10-23
   listed $74,900

ⓘ 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: $2,501 · $208/mo
• Projected year-2 tax: $2,726 · $227/mo
• Expected delta: +$225/yr (+$19/mo · 9.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low 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: $16,468
• − Mortgage interest: −$7,282
• − Property taxes: −$2,501
• − Insurance: −$650
• − Repairs & maintenance: −$1,317
• − Management: −$1,317
• − Depreciation: −$3,782
• Taxable loss: −$381
• Est. tax savings @ 24.0%: +$91
• After-tax cash flow: $1,770/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: Limestone Chsd 310
• NCES district ID: 1722950
• Math proficiency: 25% ▲ 5.00%
• Reading proficiency: 35% ▲ 4.00%
• Median HH income: $49,759
• Composite: 28.99/100
• National rank: #11932
• State rank: #486 of 919 in IL

Livability — Bellevue

• Score: 65/100
• State rank: #601
• US rank: #12423

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Bellevue, IL
• County: Peoria County · 120,495 people
• Metro: Peoria, IL
• Population (ZIP): 28,313
• Household income: $52,414
• Rent vs Own: 32.0% rent · 68.0% own
• Severe rent burden: 815.0

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 0.61)
• Race & ethnicity: White 55% Black 29% Two or more races 10% Hispanic / Latino 7% Asian 2%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Italian 2% Slovak 1% Iranian 1%
• Foreign-born: 6% · Canada, China
• Languages at home: 92% English-only · Spanish 4% Chinese 1% French/Haitian/Cajun 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: ▼ -54.15%
• Current HPI: 165.8838
• Rent YoY: ▲ 2.30%
• 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

+73.6% since first listed

8 events — show timeline

• 2026-04-16 Contingent — RMLSA as Distributed by MLS Grid
• 2026-04-11 Listed $130,000 RMLSA as Distributed by MLS Grid
• 2002-01-25 Sold (Public Records) $65,000 Public Records
• 2002-01-24 Sold (MLS) $69,000 RMLSA as Distributed by MLS Grid
• 2001-11-23 Listed $79,900 RMLSA as Distributed by MLS Grid
• 1999-12-16 Sold (Public Records) $70,000 Public Records
• 1999-12-14 Sold (MLS) $70,000 RMLSA as Distributed by MLS Grid
• 1999-10-23 Listed $74,900 RMLSA as Distributed by MLS Grid

Property tax history

+0.7%/yr

Latest (2024): $2,501 · +8.0% YoY. Source: county tax records.