2414 NE Monroe St · Peoria, IL 61603

$18,000

2 bd · 1.0 ba · 720 sqft · SingleFamily public records · 44 Days on market

Built 1925 2,178 sqft lot $25/sqft · 41% below area Est $30k · 41% 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 +15.0/30.0
• ARV discount +15.0/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Livability +3.7/5.0
• Rent growth +3.4/5.0
• Condition / age +2.5/5.0
• Schools +1.1/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Attention investors and DIY enthusiasts! Multiple exit strategies: finish this remodel then either flip, rent or move in! Home being sold as is.

Key facts

• North end of peoria
• New roof
• 2,178 sq ft lot

Tags

• NORTH END OF PEORIA
• WALKING DISTANCE TO KOMATSU
• NEW ROOF
• INSTALLATION OF A BATHROOM
• EXISTING SEWAGE LINES

Property features AI

Exterior

• Parking: Gravel parking (no garage)
• Utilities: Public sewer
• Home design: Single-family residence; Built in 1925; Total living area listed as 720
• Construction: Has basement (unfinished)
• Exterior features: Corner lot (approx. 30 x 132); Shingle roof

Interior

• Kitchen: Kitchen on the main level
• Bedrooms: 2 bedrooms (both on the main level; each approximately 15 x 10 ft; egress windows present)
• Flooring: Vinyl flooring in bedrooms; Other flooring in kitchen
• Bathrooms: No full or half bathrooms listed
• Interior features: Unfinished basement; No fireplaces

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $18k.

Deal economics

• At list price, monthly cash flow is $617 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($931 rent vs $18k).
• Recommended offer: $17k (3.0% below list) — sets the bar for market timing.
• Cap rate 47.4% 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 (+3.5%/yr); 104 active listings in the ZIP; lower-income renter base — watch delinquency; 73 units permitted in Peoria County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $124 of loan paydown is wiped out by about $540 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 + 3.5% rent growth), your $5k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 44 days — a 3% lower offer ($17k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts; this cycle's ask has dropped $1k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1925 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $17,460 (3.0% below list)

Questions for the listing agent

1. It's been on market 44 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 1925 — 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. 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: 5.17% ✓
• Cap rate: 47.44%
• Cash-on-cash: 146.95%
• DSCR: 7.54
• GRM: 1.6

CMA / ARV

• ARV (median comp): $30,396
• List price: $18,000
• Delta: -40.78%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
650 Spitznagle Ave	0.14mi	2/1.0	720 (0%)	14mo	$34,750	$48	82
711 Vine St	0.29mi	3/1.0 (+1)	759 (+5%)	1mo	$23,900	$31	72
601 NE Rock Island Ave	0.27mi	2/1.0	792 (+10%)	12mo	$53,500	$68	60
649 Spitznagle Ave	0.13mi	3/1.0 (+1)	799 (+11%)	22mo	$51,000	$64	53
2306 NE Perry Ave	0.21mi	3/1.0 (+1)	794 (+10%)	24mo	$38,000	$48	48
2112 N Atlantic Ave	0.71mi	2/1.0	768 (+7%)	17mo	$47,500	$62	42
2137 N Prospect Rd	0.67mi	2/1.0	623 (-14%)	6mo	$29,000	$47	41

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 · 3.49% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 8.31×
• Total profit: $36,864
• Equity at exit: $2,684

10-year hold

• IRR: —
• Equity multiple: 17.80×
• Total profit: $84,671
• Equity at exit: $1,556

Cash invested: $5,040 (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 61603

• Home prices YoY: -31.8%
• Rents YoY: 3.5%
• Active inventory: 104
• Price-to-rent: 1.6×

Monthly cashflow live

• Estimated rent: $931 medium
• Mortgage (P&I): −$94
• Tax from tax record: −$16 /mo · $196/yr
• Insurance: −$8
• HOA: −$0
• Vacancy / Maint / Mgmt: −$195
• Net cashflow: $617

Break-even live

Break-even rent $150

Max offer price $18,000

Occupancy floor 29%

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: $4,500
• Closing costs: $540
• Reserves months: —
• Total cash needed: —

Listing history 29 events

1. 2026-06-19
   days on market $18,000 Active 44 DOM
2. 2026-06-18
   days on market $18,000 Active 43 DOM
3. 2026-06-17
   days on market $18,000 Active 42 DOM
4. 2026-06-16
   days on market $18,000 Active 41 DOM
5. 2026-06-15
   days on market $18,000 Active 40 DOM
6. 2026-06-14
   days on market $18,000 Active 38 DOM
7. 2026-06-13
   days on market $18,000 Active 37 DOM
8. 2026-06-10
   days on market $18,000 Active 35 DOM
9. 2026-06-09
   days on market $18,000 Active 34 DOM
10. 2026-06-08
    days on market $18,000 Active 33 DOM
11. 2026-06-07
    days on market $18,000 Active 32 DOM
12. 2026-06-03
    days on market $18,000 Active 28 DOM
13. 2026-06-02
    days on market $18,000 Active 27 DOM
14. 2026-06-01
    days on market $18,000 Active 26 DOM
15. 2026-05-31
    days on market $18,000 Active 25 DOM
16. 2026-05-30
    days on market $18,000 Active 24 DOM
17. 2026-05-09
    price $18,000 785-char remark
18. 2026-05-05
    listed $19,000 Active 785-char remark
19. 2026-04-21
    status Active
20. 2026-04-21
    historical
21. 2026-04-14
    status Pending
22. 2026-03-31
    status Active
23. 2026-02-20
    status Pending
24. 2026-01-14
    price
25. 2025-11-15
    listed Active
26. 2025-06-30
    soldstatus Closed

    Show marketing remark (144 chars)

    Attention investors and DIY enthusiasts! Multiple exit strategies: finish this remodel then either flip, rent or move in! Home being sold as is.

27. 2025-04-16
    status Pending

    Show marketing remark (144 chars)

    Attention investors and DIY enthusiasts! Multiple exit strategies: finish this remodel then either flip, rent or move in! Home being sold as is.

28. 2025-04-07
    price $9,900

    Show marketing remark (144 chars)

    Attention investors and DIY enthusiasts! Multiple exit strategies: finish this remodel then either flip, rent or move in! Home being sold as is.

29. 2025-04-02
    listed $14,900 Active

    Show marketing remark (144 chars)

    Attention investors and DIY enthusiasts! Multiple exit strategies: finish this remodel then either flip, rent or move in! Home being sold as is.

ⓘ 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: $196 · $16/mo
• Projected year-2 tax: $302 · $25/mo
• Expected delta: +$106/yr (+$9/mo · 54.2%)

ⓘ 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: $11,171
• − Mortgage interest: −$1,008
• − Property taxes: −$196
• − Insurance: −$90
• − Repairs & maintenance: −$894
• − Management: −$894
• − Depreciation: −$524
• Taxable income: $7,566
• Est. tax owed @ 24.0%: −$1,816
• After-tax cash flow: $5,591/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): 15,356
• Household income: $41,618
• Rent vs Own: 47.1% rent · 52.9% own
• Severe rent burden: 849.0

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 0.68)
• Race & ethnicity: Black 43% White 36% Two or more races 12% Hispanic / Latino 10% Asian 1%
• Hispanic origin (detail): Mexican 7%
• Common ancestry: Italian 2% Slovak 1% Lithuanian 1%
• Foreign-born: 7% · Canada
• Languages at home: 91% English-only · Spanish 6% Tagalog/Filipino 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: ▼ -65.98%
• Current HPI: 141.5343
• Rent YoY: ▲ 3.49%
• 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

+20.8% since first listed

13 events — show timeline

• 2026-05-09 Price Changed $18,000 RMLSA as Distributed by MLS Grid
• 2026-05-05 Listed $19,000 RMLSA as Distributed by MLS Grid
• 2026-04-21 Relisted — RMLSA as Distributed by MLS Grid
• 2026-04-21 Listing Removed — RMLSA as Distributed by MLS Grid
• 2026-04-14 Pending — RMLSA as Distributed by MLS Grid
• 2026-03-31 Relisted — RMLSA as Distributed by MLS Grid
• 2026-02-20 Pending — RMLSA as Distributed by MLS Grid
• 2026-01-14 Price Changed — RMLSA as Distributed by MLS Grid
• 2025-11-15 Listed — RMLSA as Distributed by MLS Grid
• 2025-06-30 Sold (MLS) — MARIS as Distributed by MLS Grid
• 2025-04-16 Pending — MARIS as Distributed by MLS Grid
• 2025-04-07 Price Changed $9,900 MARIS as Distributed by MLS Grid
• 2025-04-02 Listed $14,900 MARIS as Distributed by MLS Grid

Property tax history

+1.7%/yr

Latest (2025): $196 · -55.9% YoY. Source: county tax records.