2638 N Prospect Rd · Peoria, IL 61603

$82,900

3 bd · 1.0 ba · 1,155 sqft · SingleFamily public records · 6 Days on market

Built 1920 Est $75k · 10% over

---

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 +27.5/30.0
• DSCR +9.6/10.0
• 1% rule +7.5/10.0
• Livability +3.7/5.0
• Rent growth +3.4/5.0
• ARV discount +2.8/15.0
• Condition / age +2.5/5.0
• Schools +1.1/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

3 bedroom home with 1.5 baths. Large deck overlooking fenced backyard. 132-142503 Insured status:IE. Insured w/escrow of $5335. for: floor coverings $500, plumbing repair $500, downspouts $350, damaged roof $3500, 10% cushion $485. HUD aquired properties are sold as is. HUD properties are offered for sale to qualified purchasers without regard to the prospective purchaser's race, color, religion, sex, disability, familial status, or national origin.

Key facts

• Built 1920
• Listed 5 days

Property features AI

Finance

• Other: Lot dimensions approximately 38 x 125 x 39 x 132
• HOA & community: No association fees

Exterior

• Parking: On-street parking
• Utilities: Public water; Public sewer; Electric service (standard)
• Home design: Single-family residence; Built in 1920
• Construction: Shingle roof
• Exterior features: Fenced yard; Level lot; Paved road access

Interior

• Kitchen: Refrigerator
• Bedrooms: 3 bedrooms (all on upper level)
• Flooring: Hardwood in living and dining rooms; Laminate in kitchen; Carpet in bedrooms
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Partial basement; Refrigerator included; 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 $83k.

Deal economics

• At list price, monthly cash flow is $245 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $83k).
• Cap rate 9.8% 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; 12 comparable units currently listed for rent nearby; rentals leasing fast (median 13d 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $573 of loan paydown is wiped out by about $2k 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.
• At projected returns (-3.0% appreciation + 3.5% rent growth), your $23k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 13y 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 $22k; list at $83k implies a 268% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $82,900

Questions for the listing agent

1. Built in 1920 — 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: 1.25% ✓
• Cap rate: 9.84%
• Cash-on-cash: 12.65%
• DSCR: 1.56
• GRM: 6.7

CMA / ARV

• ARV (on-the-fly): $75,075
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1235 E Seneca Pl	0.05mi	3/1.0	1,062 (-8%)	3mo	$62,000	$58	81
2136 N Delaware St	0.53mi	3/1.0	1,130 (-2%)	3mo	$47,500	$42	69
2327 N Prospect Rd	0.27mi	2/1.0 (-1)	1,224 (+6%)	6mo	$79,990	$65	68
1002 E Willcox Ave	0.24mi	3/2.0	1,023 (-11%)	1mo	$89,000	$87	65
1015 E Fairoaks Ave	0.55mi	3/2.0	1,200 (+4%)	3mo	$148,000	$123	61
2206 N Wisconsin Ave	0.56mi	3/2.0	1,217 (+5%)	0mo	$30,000	$25	61
1026 E Richwoods Blvd	0.47mi	4/1.5 (+1)	1,226 (+6%)	1mo	$132,000	$108	60
924 E Maywood Ave	0.33mi	2/1.0 (-1)	1,000 (-13%)	3mo	$70,000	$70	54
2709 N California Ave	0.69mi	3/1.0	1,232 (+7%)	4mo	$78,400	$64	53
1118 E London Ave	0.67mi	2/2.0 (-1)	1,116 (-3%)	2mo	$139,900	$125	53
632 Haungs Ave	0.69mi	2/1.5 (-1)	1,005 (-13%)	1mo	$29,900	$30	39
223 NE Rock Island Ave	0.70mi	2/1.0 (-1)	984 (-15%)	0mo	$25,000	$25	38

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: 3.0%
• Equity multiple: 1.12×
• Total profit: $2,689
• Equity at exit: $12,361

10-year hold

• IRR: 13.0%
• Equity multiple: 2.06×
• Total profit: $24,619
• Equity at exit: $7,168

Cash invested: $23,212 (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: 6.7×

Monthly cashflow live

• Estimated rent: $1,038 high
• Mortgage (P&I): −$435
• Tax from tax record: −$106 /mo · $1,275/yr
• Insurance: −$35
• HOA: −$0
• Vacancy / Maint / Mgmt: −$218
• Net cashflow: $245

Break-even live

Break-even rent $729

Max offer price $82,900

Occupancy floor 71%

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: $20,725
• Closing costs: $2,487
• Reserves months: —
• Total cash needed: —

Rent comps 12 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
737 E Gift Ave Unit 737 Peoria, IL	2.0	1.0	800	$1,125	$1.41	43d	1	0.44mi
2121 N Prospect Rd Peoria, IL	3.0	1.0	946	$802	$0.85	13d	1	0.47mi
505 E Virginia Ave Peoria, IL	2.0	2.0	1204	$758	$0.63	13d	1	0.67mi
526 Fairholm Ave Peoria, IL	3.0	2.0	1174	$925	$0.79	43d	1	0.76mi
2302 NE Monroe St Peoria, IL	3.0	1.0	1100	$875	$0.80	13d	1	0.80mi
308 E Archer Ave Peoria, IL	3.0	1.0	1444	$950	$0.66	13d	1	0.82mi
2210 Knoxville Ave #2212 Peoria, IL	2.0	1.0	1284	$950	$0.74	43d	1	0.99mi
3912 N Atlantic Ave Peoria Heights, IL	2.0	1.0	825	$1,100	$1.33	43d	1	1.03mi
506 Caroline St Unit B Peoria, IL	2.0	1.0	1000	$900	$0.90	13d	1	1.04mi
901 NE Glen Oak Ave Unit 2 Peoria, IL	3.0	1.0	1120	$1,200	$1.07	20d	1	1.21mi
813 E Sciota Ave Peoria Heights, IL	2.0	2.0	800	$1,400	$1.75	13d	1	1.42mi
2207 N Ellis St Peoria, IL	2.0	1.0	864	$999	$1.16	13d	1	1.44mi

Listing history 7 events

1. 2026-06-19
   days on market $82,900 Active 6 DOM
2. 2026-06-18
   days on market $82,900 Active 5 DOM
3. 2026-06-17
   days on market $82,900 Active 4 DOM
4. 2026-06-16
   days on market $82,900 Active 3 DOM
5. 2026-06-15
   days on market $82,900 Active 2 DOM
6. 2026-06-14
   remarks 693-char remark
7. 2026-06-14
   listed $82,900 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: $1,275 · $106/mo
• Projected year-2 tax: $1,579 · $132/mo
• Expected delta: +$303/yr (+$25/mo · 23.8%)

ⓘ 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 · 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: $12,461
• − Mortgage interest: −$4,644
• − Property taxes: −$1,275
• − Insurance: −$414
• − Repairs & maintenance: −$997
• − Management: −$997
• − Depreciation: −$2,412
• Taxable income: $1,722
• Est. tax owed @ 24.0%: −$413
• After-tax cash flow: $2,524/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

+107.2% since first listed

4 events — show timeline

• 2026-06-13 Listed $82,900 RMLSA as Distributed by MLS Grid
• 2013-07-23 Sold (MLS) $22,500 RMLSA as Distributed by MLS Grid
• 2013-05-07 Listed $20,500 RMLSA as Distributed by MLS Grid
• 2000-10-18 Sold (Public Records) $40,000 Public Records

Property tax history

+5.3%/yr

Latest (2025): $1,275 · +6.4% YoY. Source: county tax records.