1504 N Linn St · Peoria, IL 61604

$35,000

5 bd · 2.0 ba · 2,268 sqft · MultiFamily public records · 41 Days on market

Built 1905 6,098 sqft lot Est $25k · 40% over

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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
• 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
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks

Duplex for Sale – Priced at 30¢ on the Dollar Full rehab needed. Strong value-add opportunity with major upside. Key Features: • Second-floor balcony • Private driveway • Large backyard • Basement + main floor access • Attic access from second-floor unit Value-Add Potential: Second-floor unit has a large attic that could add 1–2 bedrooms. Formal dining room can be converted into an additional bedroom with a dine-in kitchen layout. Plenty of natural light throughout, plus a spacious balcony. Bathroom tile is in solid condition—main updates needed are fixtures. First Floor Highlights: Tall ceilings, hardwood floors that can be refinished, bric

Key facts

• Basement access
• Attic access
• Formal dining room

Tags

• SECOND FLOOR BALCONY
• PRIVATE DRIVEWAY
• LARGE BACKYARD
• BASEMENT ACCESS
• ATTIC ACCESS
• FORMAL DINING ROOM

Property features AI

Finance

• Other: Property sits on approximately 0.14-acre lot; Listed status: Active Under Contract
• Financial info: Priced as a value-add opportunity (full rehab needed) — investor-friendly listing

Exterior

• Parking: Total parking for 6 vehicles; Parking pad; Each unit has 3 parking spaces (all uncovered)
• Utilities: Public sewer
• Home design: Duplex (residential income property); Two or more stories; Built in 1905
• Construction: Total building area approximately 2268 (building area provided)
• Exterior features: Shingle roof; Lot includes typical residential features (Other)

Interior

• Bedrooms: Two 2-bedroom units (each unit has 2 bedrooms)
• Bathrooms: Each unit has 1 full bathroom
• Interior features: Unfinished basement; Second-floor balcony; Large backyard; Private driveway; Attic access from second-floor unit

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $35k.

Deal economics

• At list price, monthly cash flow is $2k ($18k/yr) — positive. Per door: $768/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $35k).
• Recommended offer: $34k (3.0% below list) — sets the bar for market timing.
• Cap rate 58.9% 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 (+2.3%/yr); 180 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 73 units permitted in Peoria County in 2024 (0 in 5+ unit buildings).
• At $2,270/mo this rent would consume 52% of the median local household income ($52k/yr) (locally 815% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $242 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 + 2.3% rent growth), your $10k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 41 days — a 3% lower offer ($34k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts 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 1905 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $33,950 (3.0% below list)

Questions for the listing agent

1. It's been on market 41 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1905 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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?
9. 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.
10. 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.
11. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 6.49% ✓
• Cap rate: 58.92%
• Cash-on-cash: 187.96%
• DSCR: 9.36
• GRM: 1.3

CMA / ARV

• ARV (on-the-fly): $24,948
• Comps found: 5

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1504 N Linn St	0.00mi	4/2.0 (-1)	2,268 (0%)	1mo	$23,000	$10	94
1104 N Orange St	0.65mi	5/3.0	2,127 (-6%)	8mo	$125,000	$59	49
920 NE Glendale Ave	0.62mi	4/4.0 (-1)	2,300 (+1%)	14mo	$23,000	$10	44
1119 N Orange St	0.66mi	4/2.0 (-1)	1,937 (-15%)	2mo	$22,000	$11	39
2315 N Bigelow St	0.72mi	4/2.0 (-1)	2,200 (-3%)	23mo	$78,900	$36	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 · 2.3% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 10.24×
• Total profit: $90,551
• Equity at exit: $5,219

10-year hold

• IRR: —
• Equity multiple: 21.25×
• Total profit: $198,496
• Equity at exit: $3,026

Cash invested: $9,800 (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: 2.6×

Monthly cashflow live

• Estimated rent: $2,270 high
• Mortgage (P&I): −$184
• Tax from tax record: −$60 /mo · $722/yr
• Insurance: −$15
• HOA: −$0
• Vacancy / Maint / Mgmt: −$477
• Net cashflow: $1,535

Break-even live

Break-even rent $327

Max offer price $35,000

Occupancy floor 27%

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,270
Total (2 units)			$2,270

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: $8,750
• Closing costs: $1,050
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1806 N Peoria Ave Peoria, IL	4.0	1.5	1668	$894	$0.54	13d	1	0.28mi

Listing history 10 events

1. 2026-04-23
   historical Under Contract
2. 2026-04-15
   listed $35,000 Active
3. 2026-03-31
   status Active
4. 2026-03-31
   historical
5. 2026-03-07
   status Pending
6. 2026-03-03
   price
7. 2026-02-07
   status Active
8. 2026-02-07
   price
9. 2026-01-26
   historical Under Contract
10. 2025-11-11
    listed Active

ⓘ 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: $722 · $60/mo
• Projected year-2 tax: $758 · $63/mo
• Expected delta: +$36/yr (+$3/mo · 5.0%)

ⓘ 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: $27,240
• − Mortgage interest: −$1,961
• − Property taxes: −$722
• − Insurance: −$175
• − Repairs & maintenance: −$2,179
• − Management: −$2,179
• − Depreciation: −$1,018
• Taxable income: $19,006
• Est. tax owed @ 24.0%: −$4,561
• After-tax cash flow: $13,859/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 events — show timeline

• 2026-04-23 Contingent — RMLSA as Distributed by MLS Grid
• 2026-04-15 Listed $35,000 RMLSA as Distributed by MLS Grid
• 2026-03-31 Relisted — RMLSA as Distributed by MLS Grid
• 2026-03-31 Listing Removed — RMLSA as Distributed by MLS Grid
• 2026-03-07 Pending — RMLSA as Distributed by MLS Grid
• 2026-03-03 Price Changed — RMLSA as Distributed by MLS Grid
• 2026-02-07 Relisted — RMLSA as Distributed by MLS Grid
• 2026-02-07 Price Changed — RMLSA as Distributed by MLS Grid
• 2026-01-26 Contingent — RMLSA as Distributed by MLS Grid
• 2025-11-11 Listed — RMLSA as Distributed by MLS Grid

Property tax history

-0.0%/yr

Latest (2024): $722 · -3.9% YoY. Source: county tax records.