1615 NE Jefferson Ave · Peoria, IL 61603

$55,000

3 bd · 2.0 ba · 1,720 sqft · SingleFamily public records · 119 Days on market

Built 1920 4,000 sqft lot $32/sqft · 67% above area

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Why this score? — see what drove the B- 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• 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

Investment opportunity knocking!!! Previously rented for $1650 a month. Fenced yard, close to the interstate, close to hospitals, and all your daily needs. Can also be used as a multi family property. Separate entrances and 2 kitchens. One kitchen on the main level and one kitchen on the upper level. Main floor dining area could also be a bedroom. Turn your pennies into dollars in this great investment. Sellers will consider any offers!!!

Key facts

• Two kitchens
• Fenced yard
• Close to hospitals

Tags

• FENCED YARD
• CLOSE TO INTERSTATE
• CLOSE TO HOSPITALS
• MULTI FAMILY PROPERTY
• SEPARATE ENTRANCES
• TWO KITCHENS

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $55k.

Deal economics

• At list price, monthly cash flow is $452 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $55k).
• Recommended offer: $50k (9.0% below list) — sets the bar for market timing.
• Cap rate 16.2% 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: Rents rising (+3.5%/yr); 104 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals at typical pace (median 14d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 73 units permitted in Peoria County in 2024 (0 in 5+ unit buildings).
• This rent runs 31% of the median local income ($42k/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 $380 of loan paydown is wiped out by about $2k 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 $15k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 119 days — a 9% lower offer ($50k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 6y ago; this cycle's ask has dropped $30k (35%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $20k; list at $55k implies a 168% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $50,050 (9.0% below list)

Questions for the listing agent

1. It's been on market 119 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
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: 1.93% ✓
• Cap rate: 16.16%
• Cash-on-cash: 35.26%
• DSCR: 2.57
• GRM: 4.3

CMA / ARV

• ARV (median comp): $32,875
• List price: $55,000
• Delta: 67.30%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1621 NE Madison Ave	0.09mi	4/2.0 (+1)	1,682 (-2%)	5mo	$38,806	$23	83
1501 NE Madison Ave	0.15mi	3/2.0	1,576 (-8%)	1mo	$34,000	$22	78
1616 NE Madison Ave	0.06mi	3/1.0	1,584 (-8%)	5mo	$31,750	$20	76
1617 NE Madison Ave	0.09mi	3/1.0	1,590 (-8%)	5mo	$24,694	$16	75
1118 NE Adams St	0.42mi	3/2.0	1,662 (-3%)	7mo	$71,000	$43	69
1518 NE Monroe St	0.16mi	4/1.5 (+1)	1,814 (+6%)	13mo	$24,000	$13	66
1116 NE Monroe St	0.43mi	4/2.0 (+1)	1,846 (+7%)	2mo	$27,000	$15	61
1828 N Atlantic Ave	0.48mi	3/1.5	1,604 (-7%)	10mo	$60,000	$37	56
535 Van Buren St	0.43mi	4/1.0 (+1)	1,590 (-8%)	4mo	$45,000	$28	54
2203 N Prospect Rd	0.73mi	3/2.0	1,650 (-4%)	11mo	$77,000	$47	50
803 NE Madison St	0.70mi	3/2.0	1,822 (+6%)	12mo	$48,000	$26	48
1620 N Wisconsin Ave	0.65mi	3/1.5	1,488 (-14%)	1mo	$90,000	$60	44

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: 31.4%
• Equity multiple: 2.33×
• Total profit: $20,452
• Equity at exit: $8,201

10-year hold

• IRR: 38.8%
• Equity multiple: 4.71×
• Total profit: $57,184
• Equity at exit: $4,755

Cash invested: $15,400 (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: 4.3×

Monthly cashflow live

• Estimated rent: $1,064 high
• Mortgage (P&I): −$288
• Tax from tax record: −$77 /mo · $918/yr
• Insurance: −$23
• HOA: −$0
• Vacancy / Maint / Mgmt: −$223
• Net cashflow: $452

Break-even live

Break-even rent $491

Max offer price $55,000

Occupancy floor 52%

Sensitivity live

Price	-10% $484	-5% $468	+0% $452	+5% $437	+10% $421
Rent	-10% $368	-5% $410	+0% $452	+5% $494	+10% $536
Rate	-1.0pp $480	-0.5pp $466	base $452	+0.5pp $438	+1.0pp $424

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: $13,750
• Closing costs: $1,650
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2302 NE Monroe St Peoria, IL	3.0	1.0	1100	$875	$0.80	14d	1	0.54mi
901 NE Glen Oak Ave Unit 2 Peoria, IL	3.0	1.0	1120	$1,200	$1.07	21d	1	0.78mi
526 Fairholm Ave Peoria, IL	3.0	2.0	1174	$925	$0.79	44d	1	0.96mi
1806 N Peoria Ave Peoria, IL	4.0	1.5	1668	$894	$0.54	14d	1	1.05mi
308 E Archer Ave Peoria, IL	3.0	1.0	1444	$950	$0.66	14d	1	1.24mi
505 E Virginia Ave Peoria, IL	2.0	2.0	1204	$758	$0.63	14d	1	1.28mi
2210 Knoxville Ave #2212 Peoria, IL	2.0	1.0	1284	$950	$0.74	44d	1	1.33mi
123 SW Jefferson Ave Unit E16 NE Peoria, IL	2.0	2.0	1199	$2,250	$1.88	21d	1	1.35mi
123 SW Jefferson Ave Unit E15SW Peoria, IL	2.0	2.0	1100	$1,750	$1.59	14d	1	1.35mi

Listing history 29 events

1. 2026-06-19
   days on market $55,000 Active 119 DOM
2. 2026-06-18
   days on market $55,000 Active 118 DOM
3. 2026-06-17
   days on market $55,000 Active 117 DOM
4. 2026-06-16
   days on market $55,000 Active 116 DOM
5. 2026-06-15
   days on market $55,000 Active 115 DOM
6. 2026-06-14
   days on market $55,000 Active 113 DOM
7. 2026-06-13
   days on market $55,000 Active 112 DOM
8. 2026-06-10
   days on market $55,000 Active 110 DOM
9. 2026-06-09
   days on market $55,000 Active 109 DOM
10. 2026-06-09
    price $55,000 Active 108 DOM
11. 2026-06-08
    days on market $75,000 Active 108 DOM
12. 2026-06-07
    days on market $75,000 Active 107 DOM
13. 2026-06-03
    days on market $75,000 Active 103 DOM
14. 2026-06-02
    days on market $75,000 Active 102 DOM
15. 2026-06-01
    days on market $75,000 Active 101 DOM
16. 2026-05-31
    days on market $75,000 Active 100 DOM
17. 2026-05-30
    days on market $75,000 Active 99 DOM
18. 2026-03-26
    price $80,000 442-char remark

    Show marketing remark (442 chars)

    Investment opportunity knocking!!! Previously rented for $1650 a month. Fenced yard, close to the interstate, close to hospitals, and all your daily needs. Can also be used as a multi family property. Separate entrances and 2 kitchens. One kitchen on the main level and one kitchen on the upper level. Main floor dining area could also be a bedroom. Turn your pennies into dollars in this great investment. Sellers will consider any offers!!!

19. 2026-02-20
    listed $85,000 Active 442-char remark

    Show marketing remark (442 chars)

    Investment opportunity knocking!!! Previously rented for $1650 a month. Fenced yard, close to the interstate, close to hospitals, and all your daily needs. Can also be used as a multi family property. Separate entrances and 2 kitchens. One kitchen on the main level and one kitchen on the upper level. Main floor dining area could also be a bedroom. Turn your pennies into dollars in this great investment. Sellers will consider any offers!!!

20. 2021-08-06
    historical
21. 2021-08-06
    historical
22. 2021-08-06
    historical
23. 2021-08-06
    historical
24. 2021-08-06
    historical
25. 2021-08-06
    historical
26. 2021-08-06
    historical
27. 2021-08-06
    historical
28. 2020-08-28
    soldstatus $20,500
29. 2020-07-01
    listed $26,900

ⓘ 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: $918 · $77/mo
• Projected year-2 tax: $1,083 · $90/mo
• Expected delta: +$165/yr (+$14/mo · 18.0%)

ⓘ 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: $12,764
• − Mortgage interest: −$3,081
• − Property taxes: −$918
• − Insurance: −$275
• − Repairs & maintenance: −$1,021
• − Management: −$1,021
• − Depreciation: −$1,600
• Taxable income: $4,848
• Est. tax owed @ 24.0%: −$1,163
• After-tax cash flow: $4,266/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

+197.4% since first listed

12 events — show timeline

• 2026-03-26 Price Changed $80,000 RMLSA as Distributed by MLS Grid
• 2026-02-20 Listed $85,000 RMLSA as Distributed by MLS Grid
• 2021-08-06 Listing Removed — RMLSA as Distributed by MLS Grid
• 2021-08-06 Listing Removed — RMLSA as Distributed by MLS Grid
• 2021-08-06 Listing Removed — RMLSA as Distributed by MLS Grid
• 2021-08-06 Listing Removed — RMLSA as Distributed by MLS Grid
• 2021-08-06 Listing Removed — RMLSA as Distributed by MLS Grid
• 2021-08-06 Listing Removed — RMLSA as Distributed by MLS Grid
• 2021-08-06 Listing Removed — RMLSA as Distributed by MLS Grid
• 2021-08-06 Listing Removed — RMLSA as Distributed by MLS Grid
• 2020-08-28 Sold (MLS) $20,500 RMLSA as Distributed by MLS Grid
• 2020-07-01 Listed $26,900 RMLSA as Distributed by MLS Grid

Property tax history

+6.2%/yr

Latest (2024): $918 · +4.8% YoY. Source: county tax records.