3510 N Elmcroft Ter · Peoria, IL 61604

$134,999

3 bd · 1.0 ba · 1,092 sqft · SingleFamily public records · 33 Days on market

Built 1958 9,309 sqft lot Est $121k · 11% over

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Why this score? — see what drove the D- 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 +16.9/30.0
• DSCR +5.3/10.0
• 1% rule +3.9/10.0
• Livability +3.7/5.0
• Rent growth +3.1/5.0
• Condition / age +2.5/5.0
• ARV discount +2.4/15.0
• Schools +1.1/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

3 bedroom home in a great location on a dead end street. Close to shopping, golf course and interstate!!! Hardwood under carpeting. All measurements are approximate. Sold "As-Is"

Key facts

• Ranch floor plan
• Unfinished basement
• Storage shed

Tags

• RANCH FLOOR PLAN
• FULLY FENCED BACKYARD
• STORAGE SHED
• NEW APPLIANCES
• RADON MITIGATION SYSTEM
• UNFINISHED BASEMENT

Property features AI

Exterior

• Parking: Attached 1-car garage
• Utilities: Public water; Public sewer
• Home design: Single family residence; One-story (main, upper, lower levels noted)
• Construction: Shingle roof; Built in 1958
• Exterior features: Fenced yard; Shed(s); Level lot

Interior

• Kitchen: Refrigerator
• Bedrooms: 3 bedrooms (all on main level)
• Flooring: Carpet in bedrooms and living areas; Tile in dining room and kitchen
• Bathrooms: 1 full bathroom
• Heating & cooling: Central air; Electric forced-air heating
• Interior features: Radon mitigation system; Partial basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $135k.

Deal economics

• At list price, monthly cash flow is $89 ($1k/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 $121k (10.7% below list).
• Recommended offer: $121k (10.7% below list) — sets the bar for 1% rule.
• Cap rate 7.1% vs local median 5.5% in Peoria — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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: Valeska Hinton Early Ch Ed Ctr (495 students, 0% FRL); Sterling Middle School (math 0% / reading 4%, grade F, #664 of 665 statewide, top 100%, 385 students, 0% FRL); 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 (+2.3%/yr); 180 active listings in the ZIP; 18 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); 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 $933 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 33 days — a 3% lower offer ($131k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 12y 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 $72k; list at $135k implies a 87% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1958 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $120,618 (10.7% below list)

Questions for the listing agent

1. It's been on market 33 days. Have you received any prior offers? Is the seller open to a 11% concession, seller financing, or rate buy-down credit?
2. Built in 1958 — 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. 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?
7. 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.
8. 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.
9. 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: 0.89% ✗
• Cap rate: 7.08%
• Cash-on-cash: 2.82%
• DSCR: 1.13
• GRM: 9.3

CMA / ARV

• ARV (on-the-fly): $121,212
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3510 N Elmcroft Ter	0.00mi	3/1.0	1,092 (0%)	1mo	$136,000	$125	99
3423 N EL Vista Ave	0.20mi	3/1.0	1,183 (+8%)	5mo	$100,000	$85	72
4011 N Sterling Ave	0.42mi	3/1.5	1,040 (-5%)	5mo	$105,000	$101	66
3131 N Western Ave	0.68mi	3/1.5	1,056 (-3%)	4mo	$94,900	$90	58
2214 W Overbrook Dr	0.71mi	3/1.0	1,152 (+6%)	2mo	$140,000	$122	56
3014 N Renwood Ave	0.45mi	3/1.0	1,254 (+15%)	2mo	$139,000	$111	53
3510 N Kingston Dr #24	0.30mi	2/2.5 (-1)	1,200 (+10%)	9mo	$149,000	$124	51
2928 N Renwood Ave	0.50mi	3/2.0	1,238 (+13%)	1mo	$129,500	$105	49
3023 N Golf Dr	0.53mi	2/1.0 (-1)	954 (-13%)	4mo	$79,000	$83	46
2135 W Harper Ter	0.60mi	3/1.0	1,244 (+14%)	6mo	$111,250	$89	44
3311 W Richwoods Blvd	0.58mi	3/2.0	1,230 (+13%)	6mo	$151,000	$123	43
3347 W Saymore Ln	0.68mi	2/2.0 (-1)	1,241 (+14%)	3mo	$141,000	$114	34

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: -12.6%
• Equity multiple: 0.55×
• Total profit: $-17,078
• Equity at exit: $20,129

10-year hold

• IRR: -4.6%
• Equity multiple: 0.71×
• Total profit: $-11,087
• Equity at exit: $11,672

Cash invested: $37,800 (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 61604

• Home prices YoY: -24.6%
• Rents YoY: 2.3%
• Active inventory: 180
• Price-to-rent: 9.3×

Monthly cashflow live

• Estimated rent: $1,206 high
• Mortgage (P&I): −$708
• Tax from tax record: −$100 /mo · $1,197/yr
• Insurance: −$56
• HOA: −$0
• Vacancy / Maint / Mgmt: −$253
• Net cashflow: $89

Break-even live

Break-even rent $1,094

Max offer price $134,999

Occupancy floor 88%

Sensitivity live

Price	-10% $165	-5% $127	+0% $89	+5% $51	+10% $13
Rent	-10% $-6	-5% $41	+0% $89	+5% $137	+10% $184
Rate	-1.0pp $157	-0.5pp $123	base $89	+0.5pp $54	+1.0pp $18

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: $33,750
• Closing costs: $4,050
• Reserves months: —
• Total cash needed: —

Rent comps 18 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2700 W Forrest Hill Ave Peoria, IL	2.0	1.0	850	$850	$1.00	45d	1	0.34mi
3601 N Kingston Dr Peoria, IL	2.0	2.0	1030	$1,420	$1.38	15d	3	0.34mi
3629 N Leroy Ave Unit A Peoria, IL	2.0	1.0	1000	$1,150	$1.15	45d	1	0.42mi
2511 W Wardcliffe Dr Unit H Peoria, IL	2.0	1.0	800	$875	$1.09	45d	1	0.45mi
2920 N Rockwood Dr Apt B Peoria, IL	2.0	1.0	800	$895	$1.12	15d	1	0.46mi
2805 W Larchmont Ln Peoria, IL	1.0–2.0	1.0	695	$1,060	$1.53	15d	3	0.52mi
2610 N Renwood Ave Peoria, IL	2.0	1.0	904	$1,300	$1.44	15d	1	0.75mi
3438 W Villa Rdg Unit A Peoria, IL	2.0	1.5	874	$1,200	$1.37	22d	1	0.78mi
3444 W Dorchester Rdg Peoria, IL	2.0	2.0	1089	$1,275	$1.17	15d	1	0.78mi
4010 N Brandywine Dr Peoria, IL	1.0–2.0	1.0–2.0	797	$1,082	$1.36	15d	17	0.93mi
2600 N Lavalle Ct Peoria, IL	1.0–3.0	1.0–2.0	803	$1,150	$1.43	15d	26	1.02mi
1413 W Gilbert Ave Peoria, IL	2.0	2.0	1428	$1,500	$1.05	15d	1	1.17mi
1915 W Marlene Ave Unit B Peoria, IL	2.0	1.5	1200	$1,275	$1.06	22d	1	1.20mi
2020 W Glen Ave Peoria, IL	3.0	2.0	1320	$1,700	$1.29	15d	1	1.29mi
2109 N Abbey Cir Peoria, IL	3.0	2.0	1088	$1,009	$0.93	15d	1	1.33mi
3108 N Parish Ave Peoria, IL	3.0	1.5	967	$1,750	$1.81	45d	1	1.38mi
1801 N Gentry Ln West Peoria, IL	3.0	1.0	1000	$1,650	$1.65	15d	1	1.41mi
4020 N Bryer Pl Peoria, IL	2.0	1.0	720	$1,250	$1.74	22d	1	1.47mi

Listing history 14 events

1. 2026-04-28
   historical Under Contract
2. 2026-04-24
   listed $134,999 Active
3. 2025-01-27
   historical $1,200
4. 2024-12-13
   listed $1,200
5. 2024-11-19
   price
6. 2024-10-24
   price
7. 2024-10-03
   status Active
8. 2024-10-03
   historical
9. 2024-09-18
   status Pending
10. 2024-09-16
    price
11. 2024-09-06
    listed Active
12. 2015-04-27
    soldstatus $72,000
13. 2015-04-24
    soldstatus $72,000 188-char remark

    Show marketing remark (188 chars)

    3 bedroom home in a great location on a dead end street. Close to shopping, golf course and interstate!!! Hardwood under carpeting. All measurements are approximate. Sold "As-Is"

14. 2014-09-18
    listed $79,000 188-char remark

    Show marketing remark (188 chars)

    3 bedroom home in a great location on a dead end street. Close to shopping, golf course and interstate!!! Hardwood under carpeting. All measurements are approximate. Sold "As-Is"

ⓘ 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: $1,197 · $100/mo
• Projected year-2 tax: $2,131 · $178/mo
• Expected delta: +$934/yr (+$78/mo · 78.0%)

ⓘ 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: $14,474
• − Mortgage interest: −$7,562
• − Property taxes: −$1,197
• − Insurance: −$675
• − Repairs & maintenance: −$1,158
• − Management: −$1,158
• − Depreciation: −$3,927
• Taxable loss: −$1,203
• Est. tax savings @ 24.0%: +$289
• After-tax cash flow: $1,356/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): 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

+70.9% since first listed

14 events — show timeline

• 2026-04-28 Contingent — RMLSA as Distributed by MLS Grid
• 2026-04-24 Listed $134,999 RMLSA as Distributed by MLS Grid
• 2025-01-27 Rental Removed $1,200 APPFOLIO
• 2024-12-13 Listed for Rent $1,200 APPFOLIO
• 2024-11-19 Price Changed — RMLSA as Distributed by MLS Grid
• 2024-10-24 Price Changed — RMLSA as Distributed by MLS Grid
• 2024-10-03 Relisted — RMLSA as Distributed by MLS Grid
• 2024-10-03 Listing Removed — RMLSA as Distributed by MLS Grid
• 2024-09-18 Pending — RMLSA as Distributed by MLS Grid
• 2024-09-16 Price Changed — RMLSA as Distributed by MLS Grid
• 2024-09-06 Listed — RMLSA as Distributed by MLS Grid
• 2015-04-27 Sold (Public Records) $72,000 Public Records
• 2015-04-24 Sold (MLS) $72,000 RMLSA as Distributed by MLS Grid
• 2014-09-18 Listed $79,000 RMLSA as Distributed by MLS Grid

Property tax history

+7.5%/yr

Latest (2024): $1,197 · -3.9% YoY. Source: county tax records.