2206 N Wisconsin Ave · Peoria, IL 61603

$34,900

3 bd · 2.0 ba · 1,365 sqft · SingleFamily public records · 13 Days on market

Built 1920 5,662 sqft lot $26/sqft · 23% below area Est $40k · 13% under

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Why this score? — see what drove the B 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 +30.0/30.0
• ARV discount +13.5/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.7/5.0
• Rent growth +3.4/5.0
• Condition / age +2.5/5.0
• Schools +1.1/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Great investment opportunity! This property offers strong potential for rental income, renovation, or resale. Whether you're looking to expand your portfolio or start investing, this home provides a solid foundation with value-add potential. Convenient location and endless possibilities make this a must-see for investors.

Key facts

• 5,662 sq ft lot
• Built 1920
• Listed 13 days

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $35k.

Deal economics

• At list price, monthly cash flow is $549 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $35k).
• Cap rate 25.2% 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+, schools F, 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.
• Market conditions: Rents rising (+3.5%/yr); 104 active listings in the ZIP; 15 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 40% of comp listings sitting > 30 days — soft ceiling on asking rent; 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 $241 of loan paydown is wiped out by about $1k 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 $10k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

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

Recommended offer $34,900

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: 2.97% ✓
• Cap rate: 25.16%
• Cash-on-cash: 67.40%
• DSCR: 4.00
• GRM: 2.8

CMA / ARV

• ARV (median comp): $40,319
• List price: $34,900
• Delta: -13.44%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2206 N Wisconsin Ave	0.00mi	3/2.0	1,217 (-11%)	0mo	$30,000	$25	82
1016 E Virginia Ave	0.32mi	3/2.5	1,427 (+4%)	1mo	$83,000	$58	75
829 E Mcclure Ave	0.22mi	2/1.0 (-1)	1,412 (+3%)	0mo	$35,000	$25	74
2635 N Peoria Ave	0.55mi	3/1.0	1,366 (+0%)	2mo	$93,000	$68	68
908 E Behrends Ave	0.39mi	3/1.5	1,240 (-9%)	1mo	$65,000	$52	64
714 E Kansas St	0.27mi	3/1.5	1,538 (+13%)	2mo	$26,666	$17	63
1620 N Wisconsin Ave	0.54mi	3/1.5	1,488 (+9%)	1mo	$90,000	$60	57
1404 NE Glendale Ave	0.63mi	3/1.0	1,292 (-5%)	2mo	$35,000	$27	56
1826 N California Ave	0.42mi	3/1.5	1,564 (+15%)	1mo	$34,900	$22	53
308 E Corrington Ave	0.61mi	2/1.0 (-1)	1,284 (-6%)	2mo	$94,600	$74	51
2704 N Prospect Rd	0.58mi	3/2.0	1,549 (+14%)	0mo	$110,000	$71	50
1507 NE Perry Ave	0.67mi	2/1.0 (-1)	1,224 (-10%)	1mo	$77,500	$63	42

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: 67.3%
• Equity multiple: 4.05×
• Total profit: $29,846
• Equity at exit: $5,204

10-year hold

• IRR: 71.7%
• Equity multiple: 8.50×
• Total profit: $73,259
• Equity at exit: $3,018

Cash invested: $9,772 (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: 2.8×

Monthly cashflow live

• Estimated rent: $1,035 high
• Mortgage (P&I): −$183
• Tax from tax record: −$71 /mo · $857/yr
• Insurance: −$15
• HOA: −$0
• Vacancy / Maint / Mgmt: −$217
• Net cashflow: $549

Break-even live

Break-even rent $341

Max offer price $34,900

Occupancy floor 42%

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: $8,725
• Closing costs: $1,047
• Reserves months: —
• Total cash needed: —

Rent comps 15 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
505 E Virginia Ave Peoria, IL	2.0	2.0	1204	$758	$0.63	13d	1	0.35mi
308 E Archer Ave Peoria, IL	3.0	1.0	1444	$950	$0.66	13d	1	0.36mi
2121 N Prospect Rd Peoria, IL	3.0	1.0	946	$802	$0.85	13d	1	0.36mi
2210 Knoxville Ave #2212 Peoria, IL	2.0	1.0	1284	$950	$0.74	43d	1	0.50mi
1806 N Peoria Ave Peoria, IL	4.0	1.5	1668	$894	$0.54	13d	1	0.57mi
901 NE Glen Oak Ave Unit 2 Peoria, IL	3.0	1.0	1120	$1,200	$1.07	21d	1	0.74mi
506 Caroline St Unit B Peoria, IL	2.0	1.0	1000	$900	$0.90	13d	1	0.84mi
2302 NE Monroe St Peoria, IL	3.0	1.0	1100	$875	$0.80	13d	1	0.98mi
526 Fairholm Ave Peoria, IL	3.0	2.0	1174	$925	$0.79	43d	1	1.15mi
814 W McClure Ave Peoria, IL	3.0	1.0	1148	$1,100	$0.96	43d	1	1.16mi
501 W Columbia Ter Unit 3 Peoria, IL	3.0	1.0	1500	$1,400	$0.93	43d	1	1.19mi
903 W Brons Ave Peoria, IL	3.0	1.0	971	$995	$1.02	43d	1	1.20mi
913 W McClure Ave Peoria, IL	3.0	1.0	1400	$1,200	$0.86	21d	1	1.25mi
416 W Main St Unit A Peoria, IL	2.0	1.0	1050	$950	$0.90	43d	1	1.36mi
2023 N Underhill St Peoria, IL	3.0	1.0	1050	$1,200	$1.14	13d	1	1.46mi

Listing history 3 events

1. 2026-05-03
   status Pending 323-char remark

   Show marketing remark (323 chars)

   Great investment opportunity! This property offers strong potential for rental income, renovation, or resale. Whether you're looking to expand your portfolio or start investing, this home provides a solid foundation with value-add potential. Convenient location and endless possibilities make this a must-see for investors.

2. 2026-04-20
   listed $34,900 Active 323-char remark

   Show marketing remark (323 chars)

   Great investment opportunity! This property offers strong potential for rental income, renovation, or resale. Whether you're looking to expand your portfolio or start investing, this home provides a solid foundation with value-add potential. Convenient location and endless possibilities make this a must-see for investors.

3. 2009-11-05
   soldstatus $131,000

ⓘ 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: $857 · $71/mo
• Projected year-2 tax: $857 · $71/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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: $12,423
• − Mortgage interest: −$1,955
• − Property taxes: −$857
• − Insurance: −$174
• − Repairs & maintenance: −$994
• − Management: −$994
• − Depreciation: −$1,015
• Taxable income: $6,433
• Est. tax owed @ 24.0%: −$1,544
• After-tax cash flow: $5,042/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

-73.4% since first listed

3 events — show timeline

• 2026-05-03 Pending — RMLSA as Distributed by MLS Grid
• 2026-04-20 Listed $34,900 RMLSA as Distributed by MLS Grid
• 2009-11-05 Sold (Public Records) $131,000 Public Records

Property tax history

-0.5%/yr

Latest (2024): $857 · +4.9% YoY. Source: county tax records.