804 W Meadows Pl · Peoria, IL 61604

$99,000

3 bd · 1.5 ba · 1,414 sqft · SingleFamily public records · 133 Days on market

Built 1934 4,791 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 +24.8/30.0
• DSCR +8.0/10.0
• ARV discount +7.5/15.0
• 1% rule +7.1/10.0
• Livability +3.7/5.0
• Rent growth +3.1/5.0
• Condition / age +2.5/5.0
• Schools +1.1/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Beautiful 4 bedroom, 2 full bath home located on the park like boulevard of Meadows Place. Amenities include; covered front porch, 2 car garage, freshly painted interior, hardwood floors, newer central air, charm and character throughout, move-in ready, shows great! Only $64,900

Key facts

• 4,791 sq ft lot
• 2 garage spots
• Built 1934

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $99k.

Deal economics

• At list price, monthly cash flow is $209 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $99k).
• Recommended offer: $87k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.8% 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 (+2.3%/yr); 180 active listings in the ZIP; 18 comparable units currently listed for rent nearby; rentals at typical pace (median 21d 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 $684 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 133 days — a 12% lower offer ($87k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 20y ago; this cycle's ask has dropped $16k (14%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $66k; 49% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1934 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $87,120 (12.0% below list)

Questions for the listing agent

1. It's been on market 133 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1934 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
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: 1.21% ✓
• Cap rate: 8.82%
• Cash-on-cash: 9.04%
• DSCR: 1.40
• GRM: 6.9

CMA / ARV

• ARV (on-the-fly): $53,732
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2223 N Sheridan Rd	0.20mi	3/1.0	1,412 (-0%)	1mo	$53,000	$38	88
504 W Archer Ave	0.33mi	3/1.0	1,344 (-5%)	3mo	$26,000	$19	72
524 W Hanssler Pl	0.57mi	3/1.5	1,405 (-1%)	2mo	$74,000	$53	70
2235 N University St	0.47mi	4/2.0 (+1)	1,410 (-0%)	1mo	$37,000	$26	70
1117 W Gift Ave	0.58mi	3/2.0	1,426 (+1%)	1mo	$5,000	$4	69
2208 N Ellis St	0.22mi	3/2.0	1,261 (-11%)	3mo	$44,000	$35	67
2320 N University St	0.49mi	3/1.5	1,284 (-9%)	0mo	$125,000	$97	62
1710 N Machin Ave	0.31mi	2/1.0 (-1)	1,266 (-10%)	2mo	$30,000	$24	59
309 W Hanssler PI	0.69mi	3/1.0	1,468 (+4%)	1mo	$25,000	$17	59
927 W Loucks Ave	0.70mi	2/1.0 (-1)	1,372 (-3%)	2mo	$90,000	$66	54
510 W Gift Ave	0.52mi	3/1.0	1,224 (-13%)	2mo	$115,575	$94	50
1328 N Broadway St	0.57mi	4/1.0 (+1)	1,596 (+13%)	1mo	$120,000	$75	44

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: -3.4%
• Equity multiple: 0.87×
• Total profit: $-3,528
• Equity at exit: $14,761

10-year hold

• IRR: 5.5%
• Equity multiple: 1.39×
• Total profit: $10,872
• Equity at exit: $8,560

Cash invested: $27,720 (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: 6.9×

Monthly cashflow live

• Estimated rent: $1,196 high
• Mortgage (P&I): −$519
• Tax from tax record: −$176 /mo · $2,109/yr
• Insurance: −$41
• HOA: −$0
• Vacancy / Maint / Mgmt: −$251
• Net cashflow: $209

Break-even live

Break-even rent $932

Max offer price $99,000

Occupancy floor 78%

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: $24,750
• Closing costs: $2,970
• Reserves months: —
• Total cash needed: —

Rent comps 18 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
903 W Brons Ave Peoria, IL	3.0	1.0	971	$995	$1.02	43d	1	0.14mi
814 W McClure Ave Peoria, IL	3.0	1.0	1148	$1,100	$0.96	43d	1	0.32mi
2023 N Underhill St Peoria, IL	3.0	1.0	1050	$1,200	$1.14	13d	1	0.35mi
913 W McClure Ave Peoria, IL	3.0	1.0	1400	$1,200	$0.86	20d	1	0.37mi
2210 Knoxville Ave #2212 Peoria, IL	2.0	1.0	1284	$950	$0.74	43d	1	0.61mi
501 W Columbia Ter Unit 3 Peoria, IL	3.0	1.0	1500	$1,400	$0.93	43d	1	0.70mi
1806 N Peoria Ave Peoria, IL	4.0	1.5	1668	$894	$0.54	13d	1	0.78mi
308 E Archer Ave Peoria, IL	3.0	1.0	1444	$950	$0.66	13d	1	0.78mi
1413 W Gilbert Ave Peoria, IL	2.0	2.0	1428	$1,500	$1.05	13d	1	0.84mi
3108 N Parish Ave Peoria, IL	3.0	1.5	967	$1,750	$1.81	43d	1	0.89mi
505 E Virginia Ave Peoria, IL	2.0	2.0	1204	$758	$0.63	13d	1	0.95mi
416 W Main St Unit A Peoria, IL	2.0	1.0	1050	$950	$0.90	43d	1	0.97mi
901 NE Glen Oak Ave Unit 2 Peoria, IL	3.0	1.0	1120	$1,200	$1.07	20d	1	1.12mi
818 W Moss Ave Peoria, IL	2.0	2.0	1580	$1,800	$1.14	13d	1	1.16mi
1019 N Farmington Rd Unit 1017 Peoria, IL	3.0	1.0	1304	$1,600	$1.23	43d	1	1.21mi
2610 N Renwood Ave Peoria, IL	2.0	1.0	904	$1,300	$1.44	13d	1	1.42mi
2121 N Prospect Rd Peoria, IL	3.0	1.0	946	$802	$0.85	13d	1	1.44mi
1723 W Fredonia Ave Peoria, IL	4.0	2.5	1219	$2,100	$1.72	13d	1	1.47mi

Listing history 14 events

1. 2026-03-23
   status Pending
2. 2026-01-08
   price $99,000
3. 2025-11-10
   listed $115,000 Active
4. 2019-05-13
   soldstatus $66,500
5. 2019-05-09
   soldstatus $66,066 281-char remark

   Show marketing remark (281 chars)

   Beautiful 4 bedroom, 2 full bath home located on the park like boulevard of Meadows Place. Amenities include; covered front porch, 2 car garage, freshly painted interior, hardwood floors, newer central air, charm and character throughout, move-in ready, shows great! Only $64,900

6. 2019-03-18
   listed $64,900 281-char remark

   Show marketing remark (281 chars)

   Beautiful 4 bedroom, 2 full bath home located on the park like boulevard of Meadows Place. Amenities include; covered front porch, 2 car garage, freshly painted interior, hardwood floors, newer central air, charm and character throughout, move-in ready, shows great! Only $64,900

7. 2014-12-15
   soldstatus $43,000
8. 2014-12-11
   soldstatus $43,000 19-char remark

   Show marketing remark (19 chars)

   Sold one time show!

9. 2014-11-11
   listed $43,000 19-char remark

   Show marketing remark (19 chars)

   Sold one time show!

10. 2014-10-24
    soldstatus $33,000
11. 2014-06-30
    listed $39,900
12. 2006-08-28
    soldstatus $86,500
13. 2006-08-28
    soldstatus $86,500
14. 2006-06-05
    listed $89,900

ⓘ 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: $2,109 · $176/mo
• Projected year-2 tax: $2,178 · $182/mo
• Expected delta: +$69/yr (+$6/mo · 3.3%)

ⓘ 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: $14,355
• − Mortgage interest: −$5,546
• − Property taxes: −$2,109
• − Insurance: −$495
• − Repairs & maintenance: −$1,148
• − Management: −$1,148
• − Depreciation: −$2,880
• Taxable income: $1,028
• Est. tax owed @ 24.0%: −$247
• After-tax cash flow: $2,259/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

+10.1% since first listed

14 events — show timeline

• 2026-03-23 Pending — RMLSA as Distributed by MLS Grid
• 2026-01-08 Price Changed $99,000 RMLSA as Distributed by MLS Grid
• 2025-11-10 Listed $115,000 RMLSA as Distributed by MLS Grid
• 2019-05-13 Sold (Public Records) $66,500 Public Records
• 2019-05-09 Sold (MLS) $66,066 RMLSA as Distributed by MLS Grid
• 2019-03-18 Listed $64,900 RMLSA as Distributed by MLS Grid
• 2014-12-15 Sold (Public Records) $43,000 Public Records
• 2014-12-11 Sold (MLS) $43,000 RMLSA as Distributed by MLS Grid
• 2014-11-11 Listed $43,000 RMLSA as Distributed by MLS Grid
• 2014-10-24 Sold (MLS) $33,000 RMLSA as Distributed by MLS Grid
• 2014-06-30 Listed $39,900 RMLSA as Distributed by MLS Grid
• 2006-08-28 Sold (Public Records) $86,500 Public Records
• 2006-08-28 Sold (MLS) $86,500 RMLSA as Distributed by MLS Grid
• 2006-06-05 Listed $89,900 RMLSA as Distributed by MLS Grid

Property tax history

+1.7%/yr

Latest (2024): $2,109 · +7.3% YoY. Source: county tax records.