3304 E Washington St · East Peoria, IL 61611

$119,900

2 bd · 1.0 ba · 652 sqft · SingleFamily public records · 18 Days on market

Built 1943 $20/mo HOA · 2% of rent ↓ 14% 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 +14.1/30.0
• ARV discount +7.5/15.0
• DSCR +4.3/10.0
• 1% rule +3.8/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.5/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

SOLD AS A BUNDLE – 2 Parcels, 3.28 Acres, 4 Homes, and an Outbuilding What a deal! This fantastic bundle includes 3300 E Washington and 3304 E Washington, offering 3.28 acres of land with 4 homes and an outbuilding. Three of the homes are currently rented, making this the perfect opportunity to start or grow your investment portfolio. Each home features 2 bedrooms and 1 bathroom, providing great rental potential. The large wooded lot offers plenty of privacy and outdoor space, perfect for future development or expansion. There are three units at 3300 and one at 3304. Taxes reflect all four homes with no tax exemptions. Price is for all 4 homes Don’t miss out on this great investment opportunity—schedule a showing today!

Key facts

• Parking
• Built 1943
• Listed 18 days

Property features AI

Finance

• HOA & community: Small association fee ($20)

Exterior

• Parking: Paved parking (no garage)
• Utilities: Septic system; Shared well
• Home design: Single-family residence; Not new construction; Built in 1943; Multiple levels including main, upper, lower and basement
• Construction: 1943 construction; Basement foundation (partially finished)
• Exterior features: Shingle roof; Level, wooded lot

Interior

• Kitchen: Refrigerator included
• Bedrooms: 2 bedrooms (one on the main level, one on the upper level)
• Flooring: Luxury vinyl plank in living room and kitchen; Carpet in bedrooms; Other flooring in basement rooms
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Solid surface counters; Ceiling fan(s); Partially finished basement; Egress window in at least one bedroom; Attached storage space
• Laundry & utility: Basement utility/storage area

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $120k.

Deal economics

• At list price, monthly cash flow is $18 ($211/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $105k (12.1% below list).
• Recommended offer: $105k (12.1% below list) — sets the bar for 1% rule.
• Cap rate 6.5% vs local median 4.6% in East 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 75/100 on livability (#209 in IL, #3,927 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities D, commute F.
• East Peoria Chsd 309 (suburban): math 17% / reading 15% proficiency, ranked #482 of 620 in IL (top 78%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Robein Elem School (math 12% / reading 47%, grade F, #658 of 2,056 statewide, top 35%, 159 students, 0% FRL); East Peoria High School (math 17% / reading 15%, grade F, #457 of 693 statewide, top 66%, 947 students, 0% FRL).
• Market conditions: 148 active listings in the ZIP; 77 units permitted in Tazewell County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $829 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Tazewell County population projected at -15% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 18 days — a 2% lower offer ($118k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts; this cycle's ask has dropped $9k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1943 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $105,420 (12.1% below list)

Questions for the listing agent

1. Built in 1943 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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. 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: 0.88% ✗
• Cap rate: 6.47%
• Cash-on-cash: 0.63%
• DSCR: 1.03
• GRM: 9.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -15.3%
• Equity multiple: 0.45×
• Total profit: $-18,300
• Equity at exit: $17,877

10-year hold

• IRR: -6.7%
• Equity multiple: 0.57×
• Total profit: $-14,461
• Equity at exit: $10,367

Cash invested: $33,572 (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 61611

• Home prices YoY: -30.8%
• Active inventory: 148
• Price-to-rent: 9.5×

Monthly cashflow live

• Estimated rent: $1,054 medium
• Mortgage (P&I): −$629
• Tax from tax record: −$116 /mo · $1,398/yr
• Insurance: −$50
• HOA: −$20
• Vacancy / Maint / Mgmt: −$221
• Net cashflow: $18

Break-even live

Break-even rent $1,032

Max offer price $119,900

Occupancy floor 93%

Sensitivity live

Price	-10% $85	-5% $52	+0% $18	+5% $-16	+10% $-50
Rent	-10% $-66	-5% $-24	+0% $18	+5% $59	+10% $101
Rate	-1.0pp $78	-0.5pp $48	base $18	+0.5pp $-13	+1.0pp $-45

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: $29,975
• Closing costs: $3,597
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $20 · $240/yr

Listing history 11 events

1. 2026-05-31
   status $119,900 Pending 18 DOM
2. 2026-05-30
   days on market $119,900 Active 18 DOM
3. 2026-05-22
   price $119,900
4. 2026-05-12
   listed $129,000 Active
5. 2026-04-20
   historical $129,000
6. 2025-12-16
   soldstatus $125,000
7. 2025-12-12
   soldstatus $125,000 751-char remark

   Show marketing remark (751 chars)

   SOLD AS A BUNDLE – 2 Parcels, 3.28 Acres, 4 Homes, and an Outbuilding What a deal! This fantastic bundle includes 3300 E Washington and 3304 E Washington, offering 3.28 acres of land with 4 homes and an outbuilding. Three of the homes are currently rented, making this the perfect opportunity to start or grow your investment portfolio. Each home features 2 bedrooms and 1 bathroom, providing great rental potential. The large wooded lot offers plenty of privacy and outdoor space, perfect for future development or expansion. There are three units at 3300 and one at 3304. Taxes reflect all four homes with no tax exemptions. Price is for all 4 homes Don’t miss out on this great investment opportunity—schedule a showing today!

8. 2025-12-12
   soldstatus $62,500 Closed 751-char remark

   Show marketing remark (751 chars)

   SOLD AS A BUNDLE – 2 Parcels, 3.28 Acres, 4 Homes, and an Outbuilding What a deal! This fantastic bundle includes 3300 E Washington and 3304 E Washington, offering 3.28 acres of land with 4 homes and an outbuilding. Three of the homes are currently rented, making this the perfect opportunity to start or grow your investment portfolio. Each home features 2 bedrooms and 1 bathroom, providing great rental potential. The large wooded lot offers plenty of privacy and outdoor space, perfect for future development or expansion. There are three units at 3300 and one at 3304. Taxes reflect all four homes with no tax exemptions. Price is for all 4 homes Don’t miss out on this great investment opportunity—schedule a showing today!

9. 2025-08-11
   status Pending 751-char remark

   Show marketing remark (751 chars)

   SOLD AS A BUNDLE – 2 Parcels, 3.28 Acres, 4 Homes, and an Outbuilding What a deal! This fantastic bundle includes 3300 E Washington and 3304 E Washington, offering 3.28 acres of land with 4 homes and an outbuilding. Three of the homes are currently rented, making this the perfect opportunity to start or grow your investment portfolio. Each home features 2 bedrooms and 1 bathroom, providing great rental potential. The large wooded lot offers plenty of privacy and outdoor space, perfect for future development or expansion. There are three units at 3300 and one at 3304. Taxes reflect all four homes with no tax exemptions. Price is for all 4 homes Don’t miss out on this great investment opportunity—schedule a showing today!

10. 2025-05-21
    listed $139,900 751-char remark

    Show marketing remark (751 chars)

    SOLD AS A BUNDLE – 2 Parcels, 3.28 Acres, 4 Homes, and an Outbuilding What a deal! This fantastic bundle includes 3300 E Washington and 3304 E Washington, offering 3.28 acres of land with 4 homes and an outbuilding. Three of the homes are currently rented, making this the perfect opportunity to start or grow your investment portfolio. Each home features 2 bedrooms and 1 bathroom, providing great rental potential. The large wooded lot offers plenty of privacy and outdoor space, perfect for future development or expansion. There are three units at 3300 and one at 3304. Taxes reflect all four homes with no tax exemptions. Price is for all 4 homes Don’t miss out on this great investment opportunity—schedule a showing today!

11. 2025-05-21
    listed $139,900 Active 751-char remark

    Show marketing remark (751 chars)

    SOLD AS A BUNDLE – 2 Parcels, 3.28 Acres, 4 Homes, and an Outbuilding What a deal! This fantastic bundle includes 3300 E Washington and 3304 E Washington, offering 3.28 acres of land with 4 homes and an outbuilding. Three of the homes are currently rented, making this the perfect opportunity to start or grow your investment portfolio. Each home features 2 bedrooms and 1 bathroom, providing great rental potential. The large wooded lot offers plenty of privacy and outdoor space, perfect for future development or expansion. There are three units at 3300 and one at 3304. Taxes reflect all four homes with no tax exemptions. Price is for all 4 homes Don’t miss out on this great investment opportunity—schedule a showing today!

ⓘ 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: $1,398 · $116/mo
• Projected year-2 tax: $2,060 · $172/mo
• Expected delta: +$662/yr (+$55/mo · 47.4%)

ⓘ 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 (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥104°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,650
• − Mortgage interest: −$6,716
• − Property taxes: −$1,398
• − Insurance: −$600
• − Repairs & maintenance: −$1,012
• − Management: −$1,012
• − HOA: −$240
• − Depreciation: −$3,488
• Taxable loss: −$1,815
• Est. tax savings @ 24.0%: +$436
• After-tax cash flow: $647/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: East Peoria Chsd 309
• NCES district ID: 1713230
• Math proficiency: 17% ▼ -6.00%
• Reading proficiency: 15% ▼ -9.00%
• Median HH income: $51,439
• Composite: 14.75/100
• National rank: #9394
• State rank: #482 of 620 in IL

Livability — East Peoria

• Score: 75/100
• State rank: #209
• US rank: #3927

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: East Peoria, IL
• City population: 23,698
• Population (ZIP): 23,698

Population outlook (Tazewell County) Hauer SSP2

• Today (2025): 131,252 people
• By 2030: 128,028 · -2.5%
• By 2040: 120,443 · -8.2%
• By 2050: 111,872 · -14.8%
• By 2075: 89,843 · -31.5%
• By 2100: 66,468 · -49.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (92%)
• Race & ethnicity: White 92% Two or more races 4% Hispanic / Latino 3% Black 1%
• Common ancestry: Lithuanian 3% Italian 2% Romanian 2%
• Foreign-born: 1%
• Languages at home: 98% English-only · Spanish 1%

Political lean MEDSL · Tazewell

• 2024 margin: Strong R (+26.7) · D 35.8% · R 62.5% · Other 1.8%
• 2008→2024 swing: -20.6pp toward R · 2008: -6.0pp · 2024: -26.7pp
• All cycles: 2024: R+26.7 2020: R+25.6 2016: R+28.5 2012: R+17.9 2008: R+6.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -71.82%
• Current HPI: 161.385
• Rent YoY: —
• Metro: —
• 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

-14.3% since first listed

9 events — show timeline

• 2026-05-22 Price Changed $119,900 RMLSA as Distributed by MLS Grid
• 2026-05-12 Listed $129,000 RMLSA as Distributed by MLS Grid
• 2026-04-20 Coming Soon $129,000 RMLSA as Distributed by MLS Grid
• 2025-12-16 Sold (Public Records) $125,000 Public Records
• 2025-12-12 Sold (MLS) $62,500 RMLSA as Distributed by MLS Grid
• 2025-12-12 Sold (MLS) $125,000 MRED as Distributed by MLS Grid
• 2025-08-11 Pending — RMLSA as Distributed by MLS Grid
• 2025-05-21 Listed $139,900 RMLSA as Distributed by MLS Grid
• 2025-05-21 Listed $139,900 MRED as Distributed by MLS Grid

Property tax history

+2.4%/yr

Latest (2024): $1,398 · +2.7% YoY. Source: county tax records.