805 N Sterling Ave · West Peoria, IL 61604

$115,000

3 bd · 1.5 ba · 1,428 sqft · SingleFamily public records · 46 Days on market

Built 1963 5,160 sqft lot $81/sqft · 6% below area Est $122k · 6% under

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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 +24.2/30.0
• ARV discount +10.2/15.0
• DSCR +7.8/10.0
• 1% rule +7.2/10.0
• Livability +3.8/5.0
• Rent growth +3.1/5.0
• Condition / age +2.5/5.0
• Schools +1.1/10.0
• Appreciation +0.0/10.0

Listing remarks

Fenced yard, spacious kitchen, and a large living room looking out to the park area crossed the street are some quick features to note. Home is 3 bedroom, 2 bath, and just minutes from Bradley University, Parks, and Interstate.

Key facts

• 5,160 sq ft lot
• Garage
• Built 1963

Property features AI

Finance

• Other: Located in the Sterling Downs subdivision; Living area approximately 1428
• HOA & community: No association fee

Exterior

• Parking: Underground garage with 1 garage space
• Utilities: Public water; Public sewer
• Home design: Single family residence; Built in 1963
• Construction: Shingle roof
• Exterior features: Level lot; Lot dimensions approximately 43 x 120

Interior

• Kitchen: Kitchen located on main level
• Bedrooms: 3 bedrooms; Primary bedrooms on upper and lower levels (bedroom sizes: 14 x 12; 12 x 11; 11 x 10); Bedrooms include egress windows
• Flooring: Hardwood in two upper-level bedrooms; Carpet in lower-level bedroom; Vinyl in living room, family room and kitchen
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Forced air heating
• Interior features: Unfinished basement; No fireplaces
• Laundry & utility: Basement utility space

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $115k.

Deal economics

• At list price, monthly cash flow is $229 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $115k).
• Recommended offer: $112k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.7% vs local median 6.2% in West 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 76/100 on livability (#181 in IL, #3,474 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, commute A-; Watch: amenities 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: Manual High School (math 2% / reading 2%, grade F, #659 of 693 statewide, top 100%, 656 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; 17 comparable units currently listed for rent nearby; rentals at typical pace (median 14d on market — plan ~3-4 weeks tenant-placement turnaround); 73 units permitted in Peoria County in 2024 (0 in 5+ unit buildings).
• This rent runs 32% of the median local income ($52k/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 $795 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 46 days — a 3% lower offer ($112k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 15y ago; this cycle's ask has dropped $10k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $70k; list at $115k implies a 64% gain — meaningful room to come down on a strong offer.

Recommended offer $111,550 (3.0% below list)

Questions for the listing agent

1. It's been on market 46 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 1963 — 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. 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: 1.22% ✓
• Cap rate: 8.68%
• Cash-on-cash: 8.54%
• DSCR: 1.38
• GRM: 6.8

CMA / ARV

• ARV (median comp): $122,346
• List price: $115,000
• Delta: -6.00%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2611 W Belle Vista Ct	0.22mi	3/2.0	1,488 (+4%)	1mo	$195,000	$131	80
302 N Sterling Ave	0.46mi	3/1.0	1,422 (-0%)	5mo	$145,000	$102	72
2106 W Heading Ave	0.35mi	3/2.5	1,476 (+3%)	5mo	$102,000	$69	70
2111 W Laura Ave	0.34mi	4/2.0 (+1)	1,477 (+3%)	8mo	$140,000	$95	65
2026 W Heading Ave	0.38mi	3/2.0	1,565 (+10%)	0mo	$137,500	$88	64
1713 W Barker Ave	0.66mi	3/2.0	1,452 (+2%)	1mo	$75,000	$52	64
806 N Swords Ave	0.47mi	3/2.0	1,507 (+6%)	4mo	$130,000	$86	63
2008 W Clarke Ave	0.41mi	3/2.0	1,284 (-10%)	3mo	$119,000	$93	59
2208 W Ayres Ave	0.46mi	2/1.5 (-1)	1,297 (-9%)	4mo	$120,000	$93	55
614 N Lammers Ave	0.54mi	2/1.0 (-1)	1,350 (-6%)	6mo	$130,000	$96	54
1808 W Fredonia Ave	0.59mi	4/1.0 (+1)	1,340 (-6%)	8mo	$48,000	$36	48
2705 W Manor Pkwy	0.64mi	3/1.5	1,607 (+12%)	3mo	$162,000	$101	47

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: -4.1%
• Equity multiple: 0.85×
• Total profit: $-4,944
• Equity at exit: $17,147

10-year hold

• IRR: 4.7%
• Equity multiple: 1.34×
• Total profit: $10,822
• Equity at exit: $9,943

Cash invested: $32,200 (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: 6.8×

Monthly cashflow live

• Estimated rent: $1,399 high
• Mortgage (P&I): −$603
• Tax from tax record: −$225 /mo · $2,704/yr
• Insurance: −$48
• HOA: −$0
• Vacancy / Maint / Mgmt: −$294
• Net cashflow: $229

Break-even live

Break-even rent $1,109

Max offer price $115,000

Occupancy floor 79%

Sensitivity live

Price	-10% $294	-5% $262	+0% $229	+5% $197	+10% $164
Rent	-10% $119	-5% $174	+0% $229	+5% $284	+10% $340
Rate	-1.0pp $287	-0.5pp $258	base $229	+0.5pp $199	+1.0pp $169

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: $28,750
• Closing costs: $3,450
• Reserves months: —
• Total cash needed: —

Rent comps 17 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2601 W Kenwood Ave West Peoria, IL	3.0	1.5	1405	$1,500	$1.07	14d	1	0.10mi
1723 W Fredonia Ave Peoria, IL	4.0	2.5	1219	$2,100	$1.72	14d	1	0.64mi
1019 N Farmington Rd Unit 1017 Peoria, IL	3.0	1.0	1304	$1,600	$1.23	44d	1	0.64mi
1816 W Callender Ave Peoria, IL	3.0	2.0	1628	$1,650	$1.01	44d	1	0.65mi
102 N Cedar Ave West Peoria, IL	4.0	1.0	1272	$995	$0.78	44d	1	0.76mi
1801 N Gentry Ln West Peoria, IL	3.0	1.0	1000	$1,650	$1.65	14d	1	0.83mi
2523 W Nebraska Ave Peoria, IL	3.0	2.0	1600	$1,450	$0.91	22d	1	0.90mi
2807 W Howett St Peoria, IL	3.0	2.0	1388	$1,550	$1.12	44d	1	1.07mi
1401 W Adrian G Hinton Ave Peoria, IL	2.0	1.0	1100	$775	$0.70	44d	1	1.12mi
1540 W Kettelle St Peoria, IL	3.0	1.0	1001	$748	$0.75	14d	1	1.20mi
3001 W Wiswall St Peoria, IL	2.0	1.0	1000	$1,100	$1.10	14d	1	1.25mi
2109 N Abbey Cir Peoria, IL	3.0	2.0	1088	$1,009	$0.93	14d	1	1.27mi
3031 W Wiswall St Peoria, IL	2.0	1.0	1100	$1,100	$1.00	14d	1	1.28mi
2116 W Proctor St Peoria, IL	2.0	1.0	912	$879	$0.96	14d	1	1.38mi
1214 W Butler St Peoria, IL	4.0	1.0	1440	$795	$0.55	44d	1	1.43mi
818 W Moss Ave Peoria, IL	2.0	2.0	1580	$1,800	$1.14	14d	1	1.44mi
2610 N Renwood Ave Peoria, IL	2.0	1.0	904	$1,300	$1.44	14d	1	1.49mi

Listing history 27 events

1. 2026-06-19
   days on market $115,000 Active 46 DOM
2. 2026-06-18
   days on market $115,000 Active 45 DOM
3. 2026-06-17
   days on market $115,000 Active 44 DOM
4. 2026-06-16
   days on market $115,000 Active 43 DOM
5. 2026-06-15
   days on market $115,000 Active 42 DOM
6. 2026-06-14
   days on market $115,000 Active 40 DOM
7. 2026-06-13
   days on market $115,000 Active 39 DOM
8. 2026-06-10
   days on market $115,000 Active 37 DOM
9. 2026-06-09
   days on market $115,000 Active 36 DOM
10. 2026-06-08
    days on market $115,000 Active 35 DOM
11. 2026-06-07
    days on market $115,000 Active 34 DOM
12. 2026-06-03
    pricedays on market $115,000 Active 30 DOM
13. 2026-06-02
    days on market $125,000 Active 29 DOM
14. 2026-06-01
    days on market $125,000 Active 28 DOM
15. 2026-06-01
    remarks 228-char remark
16. 2026-05-31
    days on market $125,000 Active 27 DOM
17. 2026-05-30
    days on market $125,000 Active 26 DOM
18. 2026-05-04
    listed $125,000 Active 266-char remark
19. 2025-02-28
    historical $1,200
20. 2025-02-27
    historical
21. 2025-02-05
    listed $1,200
22. 2025-01-29
    price
23. 2024-07-26
    soldstatus $70,000
24. 2022-02-20
    historical
25. 2011-12-29
    soldstatus $62,000
26. 2011-12-13
    soldstatus $62,000
27. 2011-03-27
    listed $65,900

ⓘ 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: $2,704 · $225/mo
• Projected year-2 tax: $2,704 · $225/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: $16,792
• − Mortgage interest: −$6,442
• − Property taxes: −$2,704
• − Insurance: −$575
• − Repairs & maintenance: −$1,343
• − Management: −$1,343
• − Depreciation: −$3,345
• Taxable income: $1,040
• Est. tax owed @ 24.0%: −$250
• After-tax cash flow: $2,501/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 — West Peoria

• Score: 76/100
• State rank: #181
• US rank: #3474

Category grades

Amenities F Commute A- Cost of living A+ Crime B- Employment C Housing A+ Health & safety B+ User ratings A-

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: West 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

+74.5% since first listed

11 events — show timeline

• 2026-06-03 Price Changed $115,000 RMLSA as Distributed by MLS Grid
• 2026-05-04 Listed $125,000 RMLSA as Distributed by MLS Grid
• 2025-02-28 Rental Removed $1,200 APPFOLIO
• 2025-02-27 Listing Removed — RMLSA as Distributed by MLS Grid
• 2025-02-05 Listed for Rent $1,200 APPFOLIO
• 2025-01-29 Price Changed — RMLSA as Distributed by MLS Grid
• 2024-07-26 Sold (Public Records) $70,000 Public Records
• 2022-02-20 Listing Removed — RMLSA as Distributed by MLS Grid
• 2011-12-29 Sold (Public Records) $62,000 Public Records
• 2011-12-13 Sold (MLS) $62,000 RMLSA as Distributed by MLS Grid
• 2011-03-27 Listed $65,900 RMLSA as Distributed by MLS Grid

Property tax history

+8.1%/yr

Latest (2025): $2,704 · +11.6% YoY. Source: county tax records.