1827 N Peoria Ave · Peoria, IL 61603

$59,900

3 bd · 1.5 ba · 1,540 sqft · SingleFamily public records · 131 Days on market

Built 1900 5,680 sqft lot $39/sqft · 31% above area Est $46k · 31% over

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.7/5.0
• Rent growth +3.4/5.0
• Condition / age +2.5/5.0
• Schools +1.1/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Attention Investors! This is one you'll want to add to your portfolio. Tenant just moved out and is ready for a new owner! Charming 3 bedroom 2 full bath two story home for sale in Peoria! Good sized eat-in kitchen, main floor bedroom and conveniently located in Peoria near hospitals, interstates and downtown. Schedule your showing today!

Key facts

• Eat-in kitchen
• Main floor bedroom
• 5,680 sq ft lot

Tags

• EAT-IN KITCHEN
• MAIN FLOOR BEDROOM

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $60k.

Deal economics

• At list price, monthly cash flow is $436 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $60k).
• Recommended offer: $53k (12.0% below list) — sets the bar for market timing.
• Cap rate 15.0% 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; 15 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 32% 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 $414 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 $17k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 131 days — a 12% lower offer ($53k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 4y ago; this cycle's ask has dropped $6k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $52,712 (12.0% below list)

Questions for the listing agent

1. It's been on market 131 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1900 — 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: 1.85% ✓
• Cap rate: 15.04%
• Cash-on-cash: 31.22%
• DSCR: 2.39
• GRM: 4.5

CMA / ARV

• ARV (median comp): $45,811
• List price: $59,900
• Delta: 30.75%
• 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
1826 N California Ave	0.17mi	3/1.5	1,564 (+2%)	1mo	$34,900	$22	89
714 E Kansas St	0.33mi	3/1.5	1,538 (-0%)	2mo	$26,666	$17	83
1620 N Wisconsin Ave	0.44mi	3/1.5	1,488 (-3%)	1mo	$90,000	$60	73
301 E Thrush Ave	0.34mi	3/1.5	1,716 (+11%)	2mo	$102,000	$59	64
2610 N Peoria Ave	0.64mi	3/1.0	1,474 (-4%)	3mo	$25,000	$17	58
704 E Lasalle St	0.35mi	4/1.0 (+1)	1,706 (+11%)	1mo	$41,000	$24	58
2223 N Sheridan Rd	0.73mi	3/1.0	1,412 (-8%)	1mo	$53,000	$38	50
1313 N Ellis St	0.69mi	3/2.0	1,402 (-9%)	3mo	$45,000	$32	49
400 E Virginia Ave	0.60mi	4/1.0 (+1)	1,676 (+9%)	3mo	$117,500	$70	48
829 E Mcclure Ave	0.74mi	2/1.0 (-1)	1,412 (-8%)	0mo	$35,000	$25	44
2635 N Peoria Ave	0.72mi	3/1.0	1,366 (-11%)	2mo	$93,000	$68	44
504 W Archer Ave	0.67mi	3/1.0	1,344 (-13%)	3mo	$26,000	$19	43

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: 26.7%
• Equity multiple: 2.11×
• Total profit: $18,670
• Equity at exit: $8,931

10-year hold

• IRR: 34.6%
• Equity multiple: 4.25×
• Total profit: $54,454
• Equity at exit: $5,179

Cash invested: $16,772 (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: 4.5×

Monthly cashflow live

• Estimated rent: $1,108 high
• Mortgage (P&I): −$314
• Tax from tax record: −$100 /mo · $1,198/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$233
• Net cashflow: $436

Break-even live

Break-even rent $556

Max offer price $59,900

Occupancy floor 56%

Sensitivity live

Price	-10% $470	-5% $453	+0% $436	+5% $419	+10% $403
Rent	-10% $349	-5% $393	+0% $436	+5% $480	+10% $524
Rate	-1.0pp $467	-0.5pp $452	base $436	+0.5pp $421	+1.0pp $405

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: $14,975
• Closing costs: $1,797
• Reserves months: —
• Total cash needed: —

Rent comps 15 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1806 N Peoria Ave Peoria, IL	4.0	1.5	1668	$894	$0.54	14d	1	0.09mi
2210 Knoxville Ave #2212 Peoria, IL	2.0	1.0	1284	$950	$0.74	44d	1	0.36mi
308 E Archer Ave Peoria, IL	3.0	1.0	1444	$950	$0.66	14d	1	0.42mi
901 NE Glen Oak Ave Unit 2 Peoria, IL	3.0	1.0	1120	$1,200	$1.07	21d	1	0.47mi
505 E Virginia Ave Peoria, IL	2.0	2.0	1204	$758	$0.63	14d	1	0.62mi
501 W Columbia Ter Unit 3 Peoria, IL	3.0	1.0	1500	$1,400	$0.93	44d	1	0.64mi
416 W Main St Unit A Peoria, IL	2.0	1.0	1050	$950	$0.90	44d	1	0.84mi
814 W McClure Ave Peoria, IL	3.0	1.0	1148	$1,100	$0.96	44d	1	0.90mi
913 W McClure Ave Peoria, IL	3.0	1.0	1400	$1,200	$0.86	21d	1	0.98mi
2023 N Underhill St Peoria, IL	3.0	1.0	1050	$1,200	$1.14	14d	1	1.05mi
123 SW Jefferson Ave Unit E16 NE Peoria, IL	2.0	2.0	1199	$2,250	$1.88	21d	1	1.18mi
123 SW Jefferson Ave Unit E15SW Peoria, IL	2.0	2.0	1100	$1,750	$1.59	14d	1	1.18mi
818 W Moss Ave Peoria, IL	2.0	2.0	1580	$1,800	$1.14	14d	1	1.20mi
2302 NE Monroe St Peoria, IL	3.0	1.0	1100	$875	$0.80	14d	1	1.37mi
1413 W Gilbert Ave Peoria, IL	2.0	2.0	1428	$1,500	$1.05	14d	1	1.49mi

Listing history 24 events

1. 2026-05-19
   status Pending 340-char remark

   Show marketing remark (340 chars)

   Attention Investors! This is one you'll want to add to your portfolio. Tenant just moved out and is ready for a new owner! Charming 3 bedroom 2 full bath two story home for sale in Peoria! Good sized eat-in kitchen, main floor bedroom and conveniently located in Peoria near hospitals, interstates and downtown. Schedule your showing today!

2. 2026-01-15
   price $59,900 340-char remark

   Show marketing remark (340 chars)

   Attention Investors! This is one you'll want to add to your portfolio. Tenant just moved out and is ready for a new owner! Charming 3 bedroom 2 full bath two story home for sale in Peoria! Good sized eat-in kitchen, main floor bedroom and conveniently located in Peoria near hospitals, interstates and downtown. Schedule your showing today!

3. 2026-01-09
   price $64,900 340-char remark

   Show marketing remark (340 chars)

   Attention Investors! This is one you'll want to add to your portfolio. Tenant just moved out and is ready for a new owner! Charming 3 bedroom 2 full bath two story home for sale in Peoria! Good sized eat-in kitchen, main floor bedroom and conveniently located in Peoria near hospitals, interstates and downtown. Schedule your showing today!

4. 2026-01-08
   listed $65,500 Active 340-char remark

   Show marketing remark (340 chars)

   Attention Investors! This is one you'll want to add to your portfolio. Tenant just moved out and is ready for a new owner! Charming 3 bedroom 2 full bath two story home for sale in Peoria! Good sized eat-in kitchen, main floor bedroom and conveniently located in Peoria near hospitals, interstates and downtown. Schedule your showing today!

5. 2026-01-01
   historical
6. 2025-12-18
   price
7. 2025-12-17
   historical
8. 2025-10-01
   listed Active
9. 2025-06-12
   status Pending
10. 2025-06-12
    historical
11. 2025-06-04
    price
12. 2025-05-07
    listed Active
13. 2025-04-02
    price
14. 2025-03-04
    status Active
15. 2025-03-04
    historical
16. 2025-02-21
    status Pending
17. 2025-02-07
    price
18. 2024-12-13
    listed Active
19. 2022-09-28
    soldstatus $207,000
20. 2022-09-27
    soldstatus $35,000 Closed
21. 2022-09-05
    historical Under Contract
22. 2022-07-19
    price $44,900
23. 2022-07-12
    price $49,900
24. 2022-06-27
    listed $59,900 Active

ⓘ 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: $1,198 · $100/mo
• Projected year-2 tax: $1,279 · $107/mo
• Expected delta: +$81/yr (+$7/mo · 6.8%)

ⓘ 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: $13,296
• − Mortgage interest: −$3,355
• − Property taxes: −$1,198
• − Insurance: −$300
• − Repairs & maintenance: −$1,064
• − Management: −$1,064
• − Depreciation: −$1,743
• Taxable income: $4,573
• Est. tax owed @ 24.0%: −$1,098
• After-tax cash flow: $4,139/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

+0.0% since first listed

24 events — show timeline

• 2026-05-19 Pending — RMLSA as Distributed by MLS Grid
• 2026-01-15 Price Changed $59,900 RMLSA as Distributed by MLS Grid
• 2026-01-09 Price Changed $64,900 RMLSA as Distributed by MLS Grid
• 2026-01-08 Listed $65,500 RMLSA as Distributed by MLS Grid
• 2026-01-01 Listing Removed — RMLSA as Distributed by MLS Grid
• 2025-12-18 Price Changed — RMLSA as Distributed by MLS Grid
• 2025-12-17 Listing Removed — MRED as Distributed by MLS Grid
• 2025-10-01 Listed — RMLSA as Distributed by MLS Grid
• 2025-06-12 Pending — RMLSA as Distributed by MLS Grid
• 2025-06-12 Listing Removed — RMLSA as Distributed by MLS Grid
• 2025-06-04 Price Changed — RMLSA as Distributed by MLS Grid
• 2025-05-07 Listed — RMLSA as Distributed by MLS Grid
• 2025-04-02 Price Changed — RMLSA as Distributed by MLS Grid
• 2025-03-04 Relisted — RMLSA as Distributed by MLS Grid
• 2025-03-04 Listing Removed — RMLSA as Distributed by MLS Grid
• 2025-02-21 Pending — RMLSA as Distributed by MLS Grid
• 2025-02-07 Price Changed — RMLSA as Distributed by MLS Grid
• 2024-12-13 Listed — RMLSA as Distributed by MLS Grid
• 2022-09-28 Sold (Public Records) $207,000 Public Records
• 2022-09-27 Sold (MLS) $35,000 RMLSA as Distributed by MLS Grid
• 2022-09-05 Contingent — RMLSA as Distributed by MLS Grid
• 2022-07-19 Price Changed $44,900 RMLSA as Distributed by MLS Grid
• 2022-07-12 Price Changed $49,900 RMLSA as Distributed by MLS Grid
• 2022-06-27 Listed $59,900 RMLSA as Distributed by MLS Grid

Property tax history

+4.5%/yr

Latest (2024): $1,198 · +4.8% YoY. Source: county tax records.