3806 N Faber Ave · Peoria Heights, IL 61616

$192,000

4 bd · 2.0 ba · 1,772 sqft · SingleFamily public records · 37 Days on market

Built 1930 7,840 sqft lot $108/sqft · 41% above area Est $165k · 17% 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 +16.5/30.0
• DSCR +5.1/10.0
• 1% rule +4.6/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.0/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Spacious and versatile 6-bedroom, 3-bath home offering multi-level living with flexible space for a variety of needs. The main floor features a bright living room, dining area, kitchen, 2 bedrooms, and a full bath. The second floor includes 2 additional bedrooms, a full bath, and a second kitchen with private exterior access—perfect for in-law quarters, guest space, or multi-generational living. The basement offers 2 bedrooms with egress windows, a third full bath, laundry area, and utility space. Recent updates include: roof shingles and gutters (2024), siding (Sept 2025), windows (2025), exterior and storm doors (2025), most interior doors updated, main floor LVP flooring (2026), water heater (May 2021), main floor kitchen remodel with new cabinets, countertops, and appliances (June 2024), second floor kitchen cabinets (2025), sump pump (2025), exterior deck/stairs to second floor (2025), and a new 10x12 shed (Oct 2025). Per previous owner, concrete foundation was updated around 2015. A great opportunity for owner-occupants or anyone looking for extra space and versatility!

Key facts

• 7,840 sq ft lot
• Built 1930
• Listed 37 days

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $192k.

Deal economics

• At list price, monthly cash flow is $114 ($1k/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 $183k (4.4% below list).
• Recommended offer: $183k (4.4% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 62/100 on livability (#886 in IL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A-, health & safety B+; Watch: crime F, amenities F, commute F.
• Peoria Heights CUSD 325 (suburban): math 8% / reading 15% proficiency, ranked #560 of 620 in IL (top 90%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Peoria Heights Grade School (math 7% / reading 14%, grade F, #1,473 of 2,056 statewide, top 72%, 546 students, 0% FRL); Peoria Heights High School (math 15% / reading 24%, grade F, #379 of 693 statewide, top 57%, 208 students, 0% FRL) — zoned schools average 0% FRL vs 50% district-wide (50 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 32 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).
• This rent runs 37% of the median local income ($60k/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 $1k of loan paydown is wiped out by about $6k 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 37 days — a 3% lower offer ($186k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 22y 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 $28k; list at $192k implies a 586% 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 $183,491 (4.4% below list)

Questions for the listing agent

1. It's been on market 37 days. Have you received any prior offers? Is the seller open to a 4% concession, seller financing, or rate buy-down credit?
2. Built in 1930 — 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. 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?
6. 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?
7. 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.
8. 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.
9. 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: 0.96% ✗
• Cap rate: 7.01%
• Cash-on-cash: 2.55%
• DSCR: 1.11
• GRM: 8.7

CMA / ARV

• ARV (median comp): $164,573
• List price: $192,000
• Delta: 16.67%
• Verdict: OVERPRICED
• Comps: 7 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3903 N Prospect Rd	0.17mi	3/2.0 (-1)	1,728 (-2%)	11mo	$160,000	$93	74
1513 E London Ave	0.46mi	3/2.0 (-1)	1,787 (+1%)	2mo	$70,000	$39	71
923 E London Ave	0.25mi	3/2.0 (-1)	1,620 (-9%)	0mo	$156,240	$96	69
1203 E Fairoaks Ave	0.41mi	3/2.0 (-1)	1,712 (-3%)	4mo	$140,000	$82	67
1014 E Richwoods Blvd	0.47mi	4/2.0	1,711 (-3%)	10mo	$180,000	$105	64
1101 E Elmhurst Ave	0.55mi	3/2.0 (-1)	1,690 (-5%)	1mo	$150,000	$89	61
1014 E Elmhurst Ave	0.57mi	3/1.5 (-1)	1,812 (+2%)	5mo	$149,900	$83	59
1515 E Tripp Ave	0.54mi	4/2.0	1,937 (+9%)	6mo	$50,000	$26	54
300 E Embert Pl	0.72mi	3/1.5 (-1)	1,873 (+6%)	10mo	$175,000	$93	42
1410 E Fairoaks Ave	0.52mi	3/1.0 (-1)	1,556 (-12%)	6mo	$84,000	$54	41
1811 E Maple Ridge Dr	0.66mi	3/2.0 (-1)	1,575 (-11%)	10mo	$165,000	$105	38
1114 E Melbourne Ave	0.69mi	3/1.0 (-1)	1,572 (-11%)	5mo	$95,000	$60	36

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -12.2%
• Equity multiple: 0.56×
• Total profit: $-23,806
• Equity at exit: $28,628

10-year hold

• IRR: -3.1%
• Equity multiple: 0.79×
• Total profit: $-11,232
• Equity at exit: $16,601

Cash invested: $53,760 (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 61616

• Home prices YoY: -31.0%
• Active inventory: 32
• Price-to-rent: 8.7×

Monthly cashflow live

• Estimated rent: $1,835 medium
• Mortgage (P&I): −$1,007
• Tax from tax record: −$249 /mo · $2,982/yr
• Insurance: −$80
• HOA: −$0
• Vacancy / Maint / Mgmt: −$385
• Net cashflow: $114

Break-even live

Break-even rent $1,690

Max offer price $192,000

Occupancy floor 89%

Sensitivity live

Price	-10% $223	-5% $169	+0% $114	+5% $60	+10% $6
Rent	-10% $-31	-5% $42	+0% $114	+5% $187	+10% $259
Rate	-1.0pp $211	-0.5pp $163	base $114	+0.5pp $64	+1.0pp $14

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: $48,000
• Closing costs: $5,760
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
308 E Archer Ave Peoria, IL	3.0	1.0	1444	$950	$0.66	15d	1	1.41mi

Listing history 24 events

1. 2026-06-22
   days on market $192,000 Under Contract 37 DOM
2. 2026-06-19
   days on market $192,000 Under Contract 35 DOM
3. 2026-06-18
   days on market $192,000 Under Contract 34 DOM
4. 2026-06-17
   days on market $192,000 Under Contract 33 DOM
5. 2026-06-16
   days on market $192,000 Under Contract 32 DOM
6. 2026-06-15
   days on market $192,000 Under Contract 31 DOM
7. 2026-06-14
   days on market $192,000 Under Contract 29 DOM
8. 2026-06-13
   days on market $192,000 Under Contract 28 DOM
9. 2026-06-10
   days on market $192,000 Under Contract 26 DOM
10. 2026-06-09
    days on market $192,000 Under Contract 25 DOM
11. 2026-06-08
    days on market $192,000 Under Contract 24 DOM
12. 2026-06-07
    days on market $192,000 Under Contract 23 DOM
13. 2026-06-05
    days on market $192,000 Under Contract 20 DOM
14. 2026-06-02
    days on market $192,000 Under Contract 18 DOM
15. 2026-06-01
    days on market $192,000 Under Contract 17 DOM
16. 2026-05-31
    days on market $192,000 Under Contract 16 DOM
17. 2026-05-30
    days on market $192,000 Under Contract 15 DOM
18. 2026-05-15
    listed $192,000 Active 1101-char remark

    Show marketing remark (1101 chars)

    Spacious and versatile 6-bedroom, 3-bath home offering multi-level living with flexible space for a variety of needs. The main floor features a bright living room, dining area, kitchen, 2 bedrooms, and a full bath. The second floor includes 2 additional bedrooms, a full bath, and a second kitchen with private exterior access—perfect for in-law quarters, guest space, or multi-generational living. The basement offers 2 bedrooms with egress windows, a third full bath, laundry area, and utility space. Recent updates include: roof shingles and gutters (2024), siding (Sept 2025), windows (2025), exterior and storm doors (2025), most interior doors updated, main floor LVP flooring (2026), water heater (May 2021), main floor kitchen remodel with new cabinets, countertops, and appliances (June 2024), second floor kitchen cabinets (2025), sump pump (2025), exterior deck/stairs to second floor (2025), and a new 10x12 shed (Oct 2025). Per previous owner, concrete foundation was updated around 2015. A great opportunity for owner-occupants or anyone looking for extra space and versatility!

19. 2026-04-07
    historical $192,000 1101-char remark

    Show marketing remark (1101 chars)

    Spacious and versatile 6-bedroom, 3-bath home offering multi-level living with flexible space for a variety of needs. The main floor features a bright living room, dining area, kitchen, 2 bedrooms, and a full bath. The second floor includes 2 additional bedrooms, a full bath, and a second kitchen with private exterior access—perfect for in-law quarters, guest space, or multi-generational living. The basement offers 2 bedrooms with egress windows, a third full bath, laundry area, and utility space. Recent updates include: roof shingles and gutters (2024), siding (Sept 2025), windows (2025), exterior and storm doors (2025), most interior doors updated, main floor LVP flooring (2026), water heater (May 2021), main floor kitchen remodel with new cabinets, countertops, and appliances (June 2024), second floor kitchen cabinets (2025), sump pump (2025), exterior deck/stairs to second floor (2025), and a new 10x12 shed (Oct 2025). Per previous owner, concrete foundation was updated around 2015. A great opportunity for owner-occupants or anyone looking for extra space and versatility!

20. 2015-08-24
    soldstatus $28,000 339-char remark

    Show marketing remark (339 chars)

    Great opportunity to live on a corner lot in great location! House moved to this location in 2001. Newer poured foundation with egress windows. HUD properties are offered for sale to qualified purchasers without regard to the prospective purchaser's race, color, religion, sex, disability, familial status, or national origin. Sold As-Is

21. 2015-07-06
    listed $32,500 339-char remark

    Show marketing remark (339 chars)

    Great opportunity to live on a corner lot in great location! House moved to this location in 2001. Newer poured foundation with egress windows. HUD properties are offered for sale to qualified purchasers without regard to the prospective purchaser's race, color, religion, sex, disability, familial status, or national origin. Sold As-Is

22. 2004-04-26
    soldstatus $71,000
23. 2004-04-23
    soldstatus $71,000
24. 2004-03-02
    listed $71,000

ⓘ 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: $2,982 · $249/mo
• Projected year-2 tax: $3,670 · $306/mo
• Expected delta: +$688/yr (+$57/mo · 23.1%)

ⓘ 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 ≥104°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: $22,019
• − Mortgage interest: −$10,755
• − Property taxes: −$2,982
• − Insurance: −$960
• − Repairs & maintenance: −$1,762
• − Management: −$1,762
• − Depreciation: −$5,585
• Taxable loss: −$1,787
• Est. tax savings @ 24.0%: +$429
• After-tax cash flow: $1,799/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 Heights CUSD 325
• NCES district ID: 1731270
• Math proficiency: 8% ▼ -3.00%
• Reading proficiency: 15% ▼ -6.00%
• Median HH income: $44,878
• Composite: 10.35/100
• National rank: #9788
• State rank: #560 of 620 in IL

Livability — Peoria Heights

• Score: 62/100
• State rank: #886
• US rank: #17272

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Peoria Heights, IL
• County: Peoria County · 120,495 people
• City population: 5,825
• Metro: Peoria, IL
• Population (ZIP): 5,825
• Household income: $60,099
• Rent vs Own: 33.6% rent · 66.4% own
• Severe rent burden: 82.0

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 (87%)
• Race & ethnicity: White 87% Black 4% Two or more races 4% Hispanic / Latino 3% Asian 3%
• Common ancestry: Iranian 5% Italian 2% Slovak 2%
• Foreign-born: 5% · Canada, South Korea
• Languages at home: 93% English-only · Chinese 2% Spanish 2% Other Indo-European 2%

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: ▼ -78.59%
• Current HPI: 175.1102
• 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

+170.4% since first listed

7 events — show timeline

• 2026-05-15 Listed $192,000 RMLSA as Distributed by MLS Grid
• 2026-04-07 Coming Soon $192,000 RMLSA as Distributed by MLS Grid
• 2015-08-24 Sold (MLS) $28,000 RMLSA as Distributed by MLS Grid
• 2015-07-06 Listed $32,500 RMLSA as Distributed by MLS Grid
• 2004-04-26 Sold (Public Records) $71,000 Public Records
• 2004-04-23 Sold (MLS) $71,000 RMLSA as Distributed by MLS Grid
• 2004-03-02 Listed $71,000 RMLSA as Distributed by MLS Grid

Property tax history

+3.4%/yr

Latest (2024): $2,982 · -11.3% YoY. Source: county tax records.