2235 N University St · Peoria, IL 61604

$24,900

3 bd · 1.5 ba · 1,410 sqft · SingleFamily public records · 6 Days on market

Built 1938 7,500 sqft lot ↓ 39% since listing

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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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• 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

MAKE THIS HOME YOUR WINTER PROJECT! SO MANY POSSIBILITIES! * 1.5 STORY LOCATED ON A CORNER LOT * 2 CAR GARAGE (ENTERS OFF NOWLAND) * FULL BASEMENT * 4 BEDROOMS * 1 FULL AND 2 HALF BATHS * FORMAL DINING ROOM* ENTRY FOYER * SOLD AS-IS * NEEDS WORK BUT PRICED ACCORDINGLY !!! LOOK TODAY !!

Key facts

• 7,500 sq ft lot
• 2 garage spots
• Built 1938

Property features AI

Exterior

• Parking: Detached 2-car garage
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Built in 1938
• Construction: Shingle roof; Total living area about 1410 (building area total 1410); Not new construction
• Exterior features: Corner lot; Lot dimensions about 50 x 150

Interior

• Kitchen: Kitchen on main level (vinyl flooring, about 10 x 9 ft)
• Bedrooms: 4 bedrooms; Main-level bedroom approximately 14 x 9.1 ft (carpet, egress window); Upper-level bedroom approximately 16.05 x 10.01 ft (hardwood, egress window); Upper-level bedroom approximately 12.02 x 10 ft (hardwood, egress window); Upper-level bedroom approximately 15.05 x 9 ft (hardwood, egress window)
• Flooring: Hardwood in several upper-level rooms; Carpet in main-level living areas and one bedroom; Vinyl in kitchen; Other flooring in basement laundry
• Bathrooms: 1 full bathroom; 2 half bathrooms
• Heating & cooling: Forced air heating; Gas water heater; Central air conditioning
• Interior features: Full basement; No fireplaces
• Laundry & utility: Basement laundry room

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $25k.

Deal economics

• At list price, monthly cash flow is $824 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $25k).
• Cap rate 46.0% 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; 21 comparable units currently listed for rent nearby; rentals leasing fast (median 13d on market — plan ~1-2 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 $172 of loan paydown is wiped out by about $747 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 + 2.3% rent growth), your $7k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 16y 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.

Risks & watch-outs

• Watch-outs: built in 1938 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $24,900

Questions for the listing agent

1. Built in 1938 — 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. 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?
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: 5.06% ✓
• Cap rate: 46.01%
• Cash-on-cash: 141.85%
• DSCR: 7.31
• GRM: 1.6

CMA / ARV

• ARV (on-the-fly): $93,060
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2235 N University St	0.00mi	4/2.0 (+1)	1,410 (0%)	1mo	$37,000	$26	92
2320 N University St	0.08mi	3/1.5	1,284 (-9%)	0mo	$125,000	$97	81
1117 W Gift Ave	0.31mi	3/2.0	1,426 (+1%)	1mo	$5,000	$4	80
2223 N Sheridan Rd	0.51mi	3/1.0	1,412 (+0%)	1mo	$53,000	$38	74
2914 N Isabell Ave	0.53mi	3/1.0	1,420 (+1%)	1mo	$53,100	$37	71
2931 N Saint Philomena Ct	0.63mi	3/2.0	1,427 (+1%)	1mo	$156,000	$109	66
524 W Hanssler Pl	0.70mi	3/1.5	1,405 (-0%)	2mo	$74,000	$53	65
927 W Loucks Ave	0.56mi	2/1.0 (-1)	1,372 (-3%)	2mo	$90,000	$66	61
1710 N Machin Ave	0.55mi	2/1.0 (-1)	1,266 (-10%)	2mo	$30,000	$24	48
726 W Corrington Ave	0.62mi	3/1.0	1,200 (-15%)	2mo	$79,900	$67	42
510 W Gift Ave	0.70mi	3/1.0	1,224 (-13%)	2mo	$115,575	$94	42
1328 W Circle Rd	0.59mi	4/2.0 (+1)	1,614 (+14%)	1mo	$125,000	$77	41

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: —
• Equity multiple: 7.83×
• Total profit: $47,593
• Equity at exit: $3,713

10-year hold

• IRR: —
• Equity multiple: 16.14×
• Total profit: $105,542
• Equity at exit: $2,153

Cash invested: $6,972 (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: 1.6×

Monthly cashflow live

• Estimated rent: $1,261 high
• Mortgage (P&I): −$131
• Tax est. 1.5%: −$31 /mo · $374/yr
• Insurance: −$10
• HOA: −$0
• Vacancy / Maint / Mgmt: −$265
• Net cashflow: $824

Break-even live

Break-even rent $218

Max offer price $24,900

Occupancy floor 30%

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: $6,225
• Closing costs: $747
• Reserves months: —
• Total cash needed: —

Rent comps 21 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2023 N Underhill St Peoria, IL	3.0	1.0	1050	$1,200	$1.14	13d	1	0.24mi
913 W McClure Ave Peoria, IL	3.0	1.0	1400	$1,200	$0.86	21d	1	0.32mi
903 W Brons Ave Peoria, IL	3.0	1.0	971	$995	$1.02	43d	1	0.34mi
814 W McClure Ave Peoria, IL	3.0	1.0	1148	$1,100	$0.96	43d	1	0.39mi
1413 W Gilbert Ave Peoria, IL	2.0	2.0	1428	$1,500	$1.05	13d	1	0.46mi
3108 N Parish Ave Peoria, IL	3.0	1.5	967	$1,750	$1.81	43d	1	0.68mi
2610 N Renwood Ave Peoria, IL	2.0	1.0	904	$1,300	$1.44	13d	1	0.96mi
2210 Knoxville Ave #2212 Peoria, IL	2.0	1.0	1284	$950	$0.74	43d	1	1.02mi
501 W Columbia Ter Unit 3 Peoria, IL	3.0	1.0	1500	$1,400	$0.93	43d	1	1.08mi
2523 W Nebraska Ave Peoria, IL	3.0	2.0	1600	$1,450	$0.91	21d	1	1.13mi
1019 N Farmington Rd Unit 1017 Peoria, IL	3.0	1.0	1304	$1,600	$1.23	43d	1	1.15mi
308 E Archer Ave Peoria, IL	3.0	1.0	1444	$950	$0.66	13d	1	1.17mi
1806 N Peoria Ave Peoria, IL	4.0	1.5	1668	$894	$0.54	13d	1	1.24mi
505 E Virginia Ave Peoria, IL	2.0	2.0	1204	$758	$0.63	13d	1	1.30mi
416 W Main St Unit A Peoria, IL	2.0	1.0	1050	$950	$0.90	43d	1	1.33mi
3629 N Leroy Ave Unit A Peoria, IL	2.0	1.0	1000	$1,150	$1.15	43d	1	1.33mi
1801 N Gentry Ln West Peoria, IL	3.0	1.0	1000	$1,650	$1.65	13d	1	1.34mi
W Crestwood Dr Peoria, IL	1.0–2.0	1.0	800	$975	$1.22	13d	4	1.41mi
818 W Moss Ave Peoria, IL	2.0	2.0	1580	$1,800	$1.14	13d	1	1.42mi
4010 N Brandywine Dr Peoria, IL	1.0–2.0	1.0–2.0	797	$1,082	$1.36	13d	17	1.44mi
1723 W Fredonia Ave Peoria, IL	4.0	2.5	1219	$2,100	$1.72	13d	1	1.47mi

Listing history 10 events

1. 2026-05-14
   status Pending
2. 2026-05-08
   listed $24,900 Active
3. 2022-12-27
   price
4. 2022-12-07
   price
5. 2022-12-06
   historical
6. 2022-12-06
   status Active
7. 2022-12-06
   historical Under Contract
8. 2022-09-15
   listed Active
9. 2010-03-24
   soldstatus $31,000 289-char remark

   Show marketing remark (289 chars)

   MAKE THIS HOME YOUR WINTER PROJECT! SO MANY POSSIBILITIES! * 1.5 STORY LOCATED ON A CORNER LOT * 2 CAR GARAGE (ENTERS OFF NOWLAND) * FULL BASEMENT * 4 BEDROOMS * 1 FULL AND 2 HALF BATHS * FORMAL DINING ROOM* ENTRY FOYER * SOLD AS-IS * NEEDS WORK BUT PRICED ACCORDINGLY !!! LOOK TODAY !!

10. 2010-01-26
    listed $40,900 289-char remark

    Show marketing remark (289 chars)

    MAKE THIS HOME YOUR WINTER PROJECT! SO MANY POSSIBILITIES! * 1.5 STORY LOCATED ON A CORNER LOT * 2 CAR GARAGE (ENTERS OFF NOWLAND) * FULL BASEMENT * 4 BEDROOMS * 1 FULL AND 2 HALF BATHS * FORMAL DINING ROOM* ENTRY FOYER * SOLD AS-IS * NEEDS WORK BUT PRICED ACCORDINGLY !!! LOOK TODAY !!

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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: $15,133
• − Mortgage interest: −$1,395
• − Property taxes: −$374
• − Insurance: −$124
• − Repairs & maintenance: −$1,211
• − Management: −$1,211
• − Depreciation: −$724
• Taxable income: $10,094
• Est. tax owed @ 24.0%: −$2,423
• After-tax cash flow: $7,467/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

-39.1% since first listed

10 events — show timeline

• 2026-05-14 Pending — RMLSA as Distributed by MLS Grid
• 2026-05-08 Listed $24,900 RMLSA as Distributed by MLS Grid
• 2022-12-27 Price Changed — RMLSA as Distributed by MLS Grid
• 2022-12-07 Price Changed — RMLSA as Distributed by MLS Grid
• 2022-12-06 Listing Removed — RMLSA as Distributed by MLS Grid
• 2022-12-06 Relisted — RMLSA as Distributed by MLS Grid
• 2022-12-06 Contingent — RMLSA as Distributed by MLS Grid
• 2022-09-15 Listed — RMLSA as Distributed by MLS Grid
• 2010-03-24 Sold (MLS) $31,000 RMLSA as Distributed by MLS Grid
• 2010-01-26 Listed $40,900 RMLSA as Distributed by MLS Grid

Property tax history

+1.6%/yr

Latest (2024): $2,498 · +4.8% YoY. Source: county tax records.