1002 E Willcox Ave · Peoria, IL 61603

$89,000

3 bd · 2.0 ba · 990 sqft · SingleFamily public records · 38 Days on market

Built 1939 5,490 sqft lot Est $86k · at est.

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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 +25.1/30.0
• DSCR +8.2/10.0
• 1% rule +7.2/10.0
• ARV discount +6.0/15.0
• 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

"The house that built me".........Welcome home to this lovingly cared for home that has had the same owner for nearly 60 years! Three bedrooms, 2 baths, plaster walls, hardwood floors under carpet, great storage throughout, all appliances stay including the washer and dryer and much more* Cute breakfast nook in the kitchen that has custom quality built cabinetry, a great workshop attached to the garage, large backyard that is 3/4 fenced, and a well insulated crawl space in the basement for additional storage to compliment the full basement* Oversized garage with plenty of room and an additional carport *Kick back and relax on the large front porch* Character and charm abounds in this meticulously maintained home*

Key facts

• 5,490 sq ft lot
• Garage
• Built 1939

Property features AI

Finance

• Other: Zoned residential

Exterior

• Parking: Detached garage with 1 garage space
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Built in 1939; One or more additional levels (includes upper, main, lower, basement areas)
• Construction: Shingle roof; Total building area approximately 1,023 (living area matches building area)
• Exterior features: Level lot; Lot dimensions approximately 122 x 45

Interior

• Kitchen: Kitchen present (includes refrigerator)
• Bedrooms: 3 bedrooms (locations noted: two on the main level, one on the upper level)
• Flooring: Carpet in bedrooms and main living areas
• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced-air heating; Gas water heater; No central cooling
• Interior features: Refrigerator included; Full, unfinished basement

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $89k.

Deal economics

• At list price, monthly cash flow is $196 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $89k).
• Recommended offer: $86k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.9% 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; 14 comparable units currently listed for rent nearby; rentals at typical pace (median 14d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 73 units permitted in Peoria County in 2024 (0 in 5+ unit buildings).
• This rent runs 31% of the median local income ($42k/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 $615 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 38 days — a 3% lower offer ($86k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 5y 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 $76k; 17% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1939 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $86,330 (3.0% below list)

Questions for the listing agent

1. It's been on market 38 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 1939 — 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. 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.
7. 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.
8. 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: 1.22% ✓
• Cap rate: 8.94%
• Cash-on-cash: 9.45%
• DSCR: 1.42
• GRM: 6.9

CMA / ARV

• ARV (on-the-fly): $86,130
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1002 E Willcox Ave	0.00mi	3/2.0	1,023 (+3%)	1mo	$89,000	$87	94
2811 N Wisconsin Ave	0.21mi	3/1.0	892 (-10%)	1mo	$99,900	$112	69
112 E Gift Ave	0.65mi	3/2.0	971 (-2%)	2mo	$90,000	$93	65
606 E Arcadia Ave	0.53mi	4/1.0 (+1)	962 (-3%)	2mo	$38,000	$40	60
315 E Elmhurst Ave	0.60mi	3/1.5	1,046 (+6%)	2mo	$111,000	$106	60
2710 N California Ave	0.43mi	2/1.0 (-1)	908 (-8%)	1mo	$35,100	$39	56
1317 E Elmhurst Ave	0.50mi	2/1.0 (-1)	918 (-7%)	2mo	$44,000	$48	54
222 E Odell Pl	0.65mi	3/1.0	1,088 (+10%)	1mo	$98,000	$90	48
412 E Republic St	0.69mi	2/1.0 (-1)	925 (-7%)	1mo	$26,200	$28	47
1118 E London Ave	0.65mi	2/2.0 (-1)	1,116 (+13%)	2mo	$139,900	$125	42
718 E London Ave	0.62mi	2/1.0 (-1)	1,103 (+11%)	1mo	$67,000	$61	42
716 E Kansas St	0.73mi	2/1.0 (-1)	896 (-10%)	2mo	$26,666	$30	40

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: -1.4%
• Equity multiple: 0.95×
• Total profit: $-1,346
• Equity at exit: $13,270

10-year hold

• IRR: 8.9%
• Equity multiple: 1.69×
• Total profit: $17,316
• Equity at exit: $7,695

Cash invested: $24,920 (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: 6.9×

Monthly cashflow live

• Estimated rent: $1,082 high
• Mortgage (P&I): −$467
• Tax from tax record: −$155 /mo · $1,854/yr
• Insurance: −$37
• HOA: −$0
• Vacancy / Maint / Mgmt: −$227
• Net cashflow: $196

Break-even live

Break-even rent $833

Max offer price $89,000

Occupancy floor 77%

Sensitivity live

Price	-10% $247	-5% $221	+0% $196	+5% $171	+10% $146
Rent	-10% $111	-5% $153	+0% $196	+5% $239	+10% $282
Rate	-1.0pp $241	-0.5pp $219	base $196	+0.5pp $173	+1.0pp $150

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: $22,250
• Closing costs: $2,670
• Reserves months: —
• Total cash needed: —

Rent comps 14 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	44d	1	0.25mi
2121 N Prospect Rd Peoria, IL	3.0	1.0	946	$802	$0.85	14d	1	0.55mi
3912 N Atlantic Ave Peoria Heights, IL	2.0	1.0	825	$1,100	$1.33	44d	1	0.98mi
2302 NE Monroe St Peoria, IL	3.0	1.0	1100	$875	$0.80	14d	1	0.99mi
506 Caroline St Unit B Peoria, IL	2.0	1.0	1000	$900	$0.90	14d	1	1.13mi
901 NE Glen Oak Ave Unit 2 Peoria, IL	3.0	1.0	1120	$1,200	$1.07	21d	1	1.19mi
2207 N Ellis St Peoria, IL	2.0	1.0	864	$999	$1.16	14d	1	1.26mi
811 E Lake Ave Peoria Heights, IL	2.0	1.0	576	$875	$1.52	14d	1	1.27mi
813 E Sciota Ave Peoria Heights, IL	2.0	2.0	800	$1,400	$1.75	14d	1	1.33mi
812 W Macqueen Ave Peoria, IL	2.0	1.0	822	$795	$0.97	44d	1	1.38mi
126 E Lake Ave Peoria, IL	2.0	1.0	950	$1,050	$1.11	14d	9	1.40mi
228 E Oak Cliff Ct Unit A2 Peoria, IL	2.0	1.0	1000	$1,050	$1.05	14d	1	1.43mi
905 W Thrush Ave Peoria, IL	2.0	1.0	750	$950	$1.27	21d	1	1.47mi
903 W Brons Ave Peoria, IL	3.0	1.0	971	$995	$1.02	44d	1	1.49mi

Listing history 8 events

1. 2026-05-20
   status Pending
2. 2026-04-22
   historical Under Contract
3. 2026-04-12
   listed $89,000 Active
4. 2026-04-10
   price $89,000
5. 2026-04-01
   historical $85,000
6. 2021-09-15
   soldstatus $76,000
7. 2021-09-13
   soldstatus $76,000 732-char remark

   Show marketing remark (732 chars)

   "The house that built me".........Welcome home to this lovingly cared for home that has had the same owner for nearly 60 years! Three bedrooms, 2 baths, plaster walls, hardwood floors under carpet, great storage throughout, all appliances stay including the washer and dryer and much more* Cute breakfast nook in the kitchen that has custom quality built cabinetry, a great workshop attached to the garage, large backyard that is 3/4 fenced, and a well insulated crawl space in the basement for additional storage to compliment the full basement* Oversized garage with plenty of room and an additional carport *Kick back and relax on the large front porch* Character and charm abounds in this meticulously maintained home*

8. 2021-07-14
   listed $80,000 732-char remark

   Show marketing remark (732 chars)

   "The house that built me".........Welcome home to this lovingly cared for home that has had the same owner for nearly 60 years! Three bedrooms, 2 baths, plaster walls, hardwood floors under carpet, great storage throughout, all appliances stay including the washer and dryer and much more* Cute breakfast nook in the kitchen that has custom quality built cabinetry, a great workshop attached to the garage, large backyard that is 3/4 fenced, and a well insulated crawl space in the basement for additional storage to compliment the full basement* Oversized garage with plenty of room and an additional carport *Kick back and relax on the large front porch* Character and charm abounds in this meticulously maintained home*

ⓘ 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: $1,854 · $155/mo
• Projected year-2 tax: $1,937 · $161/mo
• Expected delta: +$83/yr (+$7/mo · 4.5%)

ⓘ 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: $12,981
• − Mortgage interest: −$4,985
• − Property taxes: −$1,854
• − Insurance: −$445
• − Repairs & maintenance: −$1,038
• − Management: −$1,038
• − Depreciation: −$2,589
• Taxable income: $1,030
• Est. tax owed @ 24.0%: −$247
• After-tax cash flow: $2,107/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

+11.2% since first listed

8 events — show timeline

• 2026-05-20 Pending — RMLSA as Distributed by MLS Grid
• 2026-04-22 Contingent — RMLSA as Distributed by MLS Grid
• 2026-04-12 Listed $89,000 RMLSA as Distributed by MLS Grid
• 2026-04-10 Price Changed $89,000 RMLSA as Distributed by MLS Grid
• 2026-04-01 Coming Soon $85,000 RMLSA as Distributed by MLS Grid
• 2021-09-15 Sold (Public Records) $76,000 Public Records
• 2021-09-13 Sold (MLS) $76,000 RMLSA as Distributed by MLS Grid
• 2021-07-14 Listed $80,000 RMLSA as Distributed by MLS Grid

Property tax history

+9.3%/yr

Latest (2024): $1,854 · +7.6% YoY. Source: county tax records.