501 W Columbia Ter · Peoria, IL 61606

$375,000

9 bd · 5.0 ba · 3,400 sqft · MultiFamily public records · 168 Days on market

Built 1930 6,534 sqft lot $110/sqft · 110% above area Est $258k · 46% 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 +23.6/30.0
• DSCR +7.6/10.0
• 1% rule +5.7/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• 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: 3 units. confirmed

Listing remarks MLS

HUGE ALL-BRICK TRIPLEX over 5000 finished sqft! Incredible investment opportunity offering three spacious 3-bedroom units, each approximately 1,600–1,700 sq ft. This solid brick property has been extensively updated, featuring a 2024 roof, 2024 furnaces and A/C units, newer electrical, one new water heater, new bathroom vanities, new washers and dryers, and multiple newer appliances. Main and lower unit have common laundry room. Upper level has laundry in unit. All units currently occupied. Each unit offers generous living space and functional layouts, making this property ideal for owner-occupants or investors alike. Don’t miss your chance to own this well-maintained, income-producing property with significant updates already completed!

Key facts

• 2024 furnaces
• 2024 roof
• New water heater

Tags

• ALL BRICK TRIPLEX
• 2024 ROOF
• 2024 FURNACES
• NEW WATER HEATER
• NEW BATHROOM VANITIES
• NEW WASHERS AND DRYERS

What this means for you Summary

Snapshot

• This is a 3 × 3-bed/1.7-bath units multifamily listed at $375k.

Deal economics

• At list price, monthly cash flow is $706 ($8k/yr) — positive. Per door: $235/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $375k).
• Recommended offer: $330k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.6% 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+, schools F, 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.
• Market conditions: 33 active listings in the ZIP; lower-income renter base — watch delinquency; 73 units permitted in Peoria County in 2024 (0 in 5+ unit buildings).
• At $4,031/mo this rent would consume 123% of the median local household income ($39k/yr) (locally 620% 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 $3k of loan paydown is wiped out by about $11k 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 168 days — a 12% lower offer ($330k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 19y 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 $220k; list at $375k implies a 70% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $330,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 168 days. Have you received any prior offers? Is the seller open to a 12% 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 1930 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. 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?
10. 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.
11. 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.
12. 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: 1.07% ✓
• Cap rate: 8.55%
• Cash-on-cash: 8.07%
• DSCR: 1.36
• GRM: 7.8

CMA / ARV

• ARV (median comp): $257,522
• List price: $375,000
• Delta: 45.62%
• Verdict: OVERPRICED
• Comps: 12 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -4.0%
• Equity multiple: 0.85×
• Total profit: $-15,814
• Equity at exit: $55,914

10-year hold

• IRR: 5.7%
• Equity multiple: 1.42×
• Total profit: $44,088
• Equity at exit: $32,423

Cash invested: $105,000 (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 61606

• Home prices YoY: -34.0%
• Active inventory: 33
• Price-to-rent: 23.3×

Monthly cashflow live

• Estimated rent: $4,031 high
• Mortgage (P&I): −$1,967
• Tax from tax record: −$356 /mo · $4,269/yr
• Insurance: −$156
• HOA: −$0
• Vacancy / Maint / Mgmt: −$847
• Net cashflow: $706

Break-even live

Break-even rent $3,137

Max offer price $375,000

Occupancy floor 77%

Sensitivity live

Price	-10% $918	-5% $812	+0% $706	+5% $600	+10% $494
Rent	-10% $387	-5% $547	+0% $706	+5% $865	+10% $1,024
Rate	-1.0pp $895	-0.5pp $801	base $706	+0.5pp $609	+1.0pp $510

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

Units	Beds	Baths	Est. rent
▸ 3× units	3	1.7	$4,032
Total (3 units)			$4,031

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: $93,750
• Closing costs: $11,250
• Reserves months: —
• Total cash needed: —

Listing history 35 events

1. 2026-06-19
   days on market $375,000 Active 168 DOM
2. 2026-06-18
   days on market $375,000 Active 167 DOM
3. 2026-06-17
   days on market $375,000 Active 166 DOM
4. 2026-06-16
   days on market $375,000 Active 165 DOM
5. 2026-06-15
   days on market $375,000 Active 164 DOM
6. 2026-06-14
   days on market $375,000 Active 162 DOM
7. 2026-06-13
   days on market $375,000 Active 161 DOM
8. 2026-06-10
   days on market $375,000 Active 159 DOM
9. 2026-06-09
   days on market $375,000 Active 158 DOM
10. 2026-06-08
    days on market $375,000 Active 157 DOM
11. 2026-06-07
    days on market $375,000 Active 156 DOM
12. 2026-06-03
    days on market $375,000 Active 152 DOM
13. 2026-06-02
    days on market $375,000 Active 151 DOM
14. 2026-06-01
    days on market $375,000 Active 150 DOM
15. 2026-05-31
    days on market $375,000 Active 149 DOM
16. 2026-05-30
    days on market $375,000 Active 148 DOM
17. 2026-03-31
    price $375,000 761-char remark

    Show marketing remark (761 chars)

    HUGE ALL-BRICK TRIPLEX over 5000 finished sqft! Incredible investment opportunity offering three spacious 3-bedroom units, each approximately 1,600–1,700 sq ft. This solid brick property has been extensively updated, featuring a 2024 roof, 2024 furnaces and A/C units, newer electrical, one new water heater, new bathroom vanities, new washers and dryers, and multiple newer appliances. Main and lower unit have common laundry room. Upper level has laundry in unit. All units currently occupied. Each unit offers generous living space and functional layouts, making this property ideal for owner-occupants or investors alike. Don’t miss your chance to own this well-maintained, income-producing property with significant updates already completed!

18. 2026-01-02
    listed $380,000 Active 761-char remark

    Show marketing remark (761 chars)

    HUGE ALL-BRICK TRIPLEX over 5000 finished sqft! Incredible investment opportunity offering three spacious 3-bedroom units, each approximately 1,600–1,700 sq ft. This solid brick property has been extensively updated, featuring a 2024 roof, 2024 furnaces and A/C units, newer electrical, one new water heater, new bathroom vanities, new washers and dryers, and multiple newer appliances. Main and lower unit have common laundry room. Upper level has laundry in unit. All units currently occupied. Each unit offers generous living space and functional layouts, making this property ideal for owner-occupants or investors alike. Don’t miss your chance to own this well-maintained, income-producing property with significant updates already completed!

19. 2025-12-17
    historical
20. 2025-11-17
    historical
21. 2025-11-05
    price
22. 2025-10-19
    listed Active
23. 2023-11-10
    soldstatus $220,000
24. 2023-11-09
    soldstatus $220,000 Closed
25. 2023-09-11
    status Pending
26. 2023-08-20
    listed $239,900 Active
27. 2022-12-29
    soldstatus $72,000
28. 2021-08-06
    historical
29. 2021-08-06
    historical
30. 2018-03-26
    soldstatus $250,000
31. 2018-03-23
    soldstatus $25,000
32. 2018-02-09
    listed $39,900
33. 2017-06-28
    soldstatus $45,000
34. 2007-05-15
    soldstatus $62,000
35. 2007-03-29
    listed $69,900

ⓘ 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: $4,269 · $356/mo
• Projected year-2 tax: $6,391 · $533/mo
• Expected delta: +$2,122/yr (+$177/mo · 49.7%)

ⓘ 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 · 17 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: $48,372
• − Mortgage interest: −$21,006
• − Property taxes: −$4,269
• − Insurance: −$1,875
• − Repairs & maintenance: −$3,870
• − Management: −$3,870
• − Depreciation: −$10,909
• Taxable income: $2,573
• Est. tax owed @ 24.0%: −$618
• After-tax cash flow: $7,853/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): 6,684
• Household income: $39,196
• Rent vs Own: 57.9% rent · 42.1% own
• Severe rent burden: 620.0

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: Predominantly White (66%)
• Race & ethnicity: White 66% Black 17% Two or more races 9% Hispanic / Latino 8% Asian 3%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Romanian 4% Slovak 2% Lithuanian 2%
• Foreign-born: 4% · Vietnam, Canada
• Languages at home: 94% English-only · Spanish 3% Other Indo-European 1% Chinese 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: ▼ -85.67%
• Current HPI: 166.329
• Rent YoY: —
• 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

+436.5% since first listed

19 events — show timeline

• 2026-03-31 Price Changed $375,000 RMLSA as Distributed by MLS Grid
• 2026-01-02 Listed $380,000 RMLSA as Distributed by MLS Grid
• 2025-12-17 Listing Removed — MRED as Distributed by MLS Grid
• 2025-11-17 Listing Removed — RMLSA as Distributed by MLS Grid
• 2025-11-05 Price Changed — RMLSA as Distributed by MLS Grid
• 2025-10-19 Listed — RMLSA as Distributed by MLS Grid
• 2023-11-10 Sold (Public Records) $220,000 Public Records
• 2023-11-09 Sold (MLS) $220,000 RMLSA as Distributed by MLS Grid
• 2023-09-11 Pending — RMLSA as Distributed by MLS Grid
• 2023-08-20 Listed $239,900 RMLSA as Distributed by MLS Grid
• 2022-12-29 Sold (Public Records) $72,000 Public Records
• 2021-08-06 Listing Removed — RMLSA as Distributed by MLS Grid
• 2021-08-06 Listing Removed — RMLSA as Distributed by MLS Grid
• 2018-03-26 Sold (Public Records) $250,000 Public Records
• 2018-03-23 Sold (MLS) $25,000 RMLSA as Distributed by MLS Grid
• 2018-02-09 Listed $39,900 RMLSA as Distributed by MLS Grid
• 2017-06-28 Sold (Public Records) $45,000 Public Records
• 2007-05-15 Sold (MLS) $62,000 RMLSA as Distributed by MLS Grid
• 2007-03-29 Listed $69,900 RMLSA as Distributed by MLS Grid

Property tax history

+5.1%/yr

Latest (2024): $4,269 · +77.7% YoY. Source: county tax records.