3812-3814 N Sheridan Knolls Ct #2 · Peoria, IL 61614

$180,000

4 bd · 2.4 ba · 2,195 sqft · MultiFamily · 134 Days on market

Built 1963 Fair condition 8,276 sqft lot $82/sqft · 7% below area Est $193k · 7% under

---

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 +28.9/30.0
• ARV discount +10.5/15.0
• DSCR +10.0/10.0
• 1% rule +8.0/10.0
• Rent growth +5.0/5.0
• Livability +3.7/5.0
• Condition / age +2.2/5.0
• Schools +1.1/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

EXCELLENT INVESTMENT OPPORTUNITY! This all-brick duplex features one 3-bedroom, 1.5-bath unit and one 2-bedroom, 1-bath unit, the property currently generating a gross annual rental income of $21,600 offering very low maintenance costs. One unit is currently rented, with a long-term tenant. With the other unit currently vacant and has a signed lease from 1May26. Current rents are below market, providing strong potential for increased income. Each unit has large rooms and its own basement. Located in a highly desirable area, the property is centrally situated within walking distance to Hy-Vee and close to bus transportation. Tenants pay for electricity, gas, and water. Improvement includes: Unit 3812: New Refrigerator in Sep '25 Unit 3814: Fresh paint, doors, trim, cabinet, refurbished hardwood in bedrooms, new light fixtures, front door paint, casing in living room installed, blinds installed throughout in Jan '25

Key facts

• All brick duplex
• Large rooms
• Own basement

Tags

• ALL BRICK DUPLEX
• LARGE ROOMS
• OWN BASEMENT
• CENTRALLY SITUATED
• WALKING DISTANCE TO HY-VEE
• CLOSE TO BUS TRANSPORTATION

What this means for you Summary

Snapshot

• This is a 1×3bd/1.5ba + 1×2bd/1ba units multifamily listed at $180k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $610 ($7k/yr) — positive. Per door: $305/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $180k).
• Recommended offer: $158k (12.0% below list) — sets the bar for market timing.
• Cap rate 10.4% 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+, 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 fast (+10.3%/yr); 150 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 73 units permitted in Peoria County in 2024 (0 in 5+ unit buildings).
• This rent runs 42% of the median local income ($67k/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 $5k 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 + 8.0% rent growth), your $50k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 134 days — a 12% lower offer ($158k) is reasonable based on typical stale-listing flexibility.

Recommended offer $158,400 (12.0% below list)

Questions for the listing agent

1. It's been on market 134 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. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
5. Built in 1963 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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?
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: 1.30% ✓
• Cap rate: 10.36%
• Cash-on-cash: 14.53%
• DSCR: 1.65
• GRM: 6.4

CMA / ARV

• ARV (median comp): $192,673
• List price: $180,000
• Delta: -6.58%
• Verdict: FAIR
• Comps: 7 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 10.5%
• Equity multiple: 1.44×
• Total profit: $22,134
• Equity at exit: $26,839

10-year hold

• IRR: 23.3%
• Equity multiple: 3.50×
• Total profit: $125,914
• Equity at exit: $15,563

Cash invested: $50,400 (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 61614

• Home prices YoY: -29.1%
• Rents YoY: 10.3%
• Active inventory: 150
• Price-to-rent: 12.4×

Monthly cashflow live

• Estimated rent: $2,347 high
• Mortgage (P&I): −$944
• Tax est. 1.5%: −$225 /mo · $2,700/yr
• Insurance: −$75
• HOA: −$0
• Vacancy / Maint / Mgmt: −$493
• Net cashflow: $610

Break-even live

Break-even rent $1,575

Max offer price $180,000

Occupancy floor 69%

Sensitivity live

Price	-10% $735	-5% $672	+0% $610	+5% $548	+10% $486
Rent	-10% $425	-5% $517	+0% $610	+5% $703	+10% $796
Rate	-1.0pp $701	-0.5pp $656	base $610	+0.5pp $564	+1.0pp $516

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

Units	Beds	Baths	Est. rent
1× unit	3	1.5	$1,210
1× unit	2	1	$1,137
Total (2 units)			$2,347

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: $45,000
• Closing costs: $5,400
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
913 W McClure Ave Peoria, IL	3.0	1.0	1400	$1,200	$0.86	21d	1	1.13mi
308 E Archer Ave Peoria, IL	3.0	1.0	1444	$950	$0.66	14d	1	1.40mi

Listing history 17 events

1. 2026-06-19
   days on market $180,000 Active 134 DOM
2. 2026-06-18
   days on market $180,000 Active 133 DOM
3. 2026-06-17
   days on market $180,000 Active 132 DOM
4. 2026-06-16
   days on market $180,000 Active 131 DOM
5. 2026-06-15
   days on market $180,000 Active 130 DOM
6. 2026-06-14
   days on market $180,000 Active 128 DOM
7. 2026-06-13
   days on market $180,000 Active 127 DOM
8. 2026-06-10
   days on market $180,000 Active 125 DOM
9. 2026-06-09
   days on market $180,000 Active 124 DOM
10. 2026-06-08
    days on market $180,000 Active 123 DOM
11. 2026-06-07
    days on market $180,000 Active 122 DOM
12. 2026-06-03
    days on market $180,000 Active 118 DOM
13. 2026-06-02
    days on market $180,000 Active 117 DOM
14. 2026-06-01
    days on market $180,000 Active 116 DOM
15. 2026-05-31
    days on market $180,000 Active 115 DOM
16. 2026-05-30
    days on market $180,000 Active 114 DOM
17. 2026-02-05
    listed $180,000 Active 927-char remark

    Show marketing remark (927 chars)

    EXCELLENT INVESTMENT OPPORTUNITY! This all-brick duplex features one 3-bedroom, 1.5-bath unit and one 2-bedroom, 1-bath unit, the property currently generating a gross annual rental income of $21,600 offering very low maintenance costs. One unit is currently rented, with a long-term tenant. With the other unit currently vacant and has a signed lease from 1May26. Current rents are below market, providing strong potential for increased income. Each unit has large rooms and its own basement. Located in a highly desirable area, the property is centrally situated within walking distance to Hy-Vee and close to bus transportation. Tenants pay for electricity, gas, and water. Improvement includes: Unit 3812: New Refrigerator in Sep '25 Unit 3814: Fresh paint, doors, trim, cabinet, refurbished hardwood in bedrooms, new light fixtures, front door paint, casing in living room installed, blinds installed throughout in Jan '25

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X · 22% 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: $28,164
• − Mortgage interest: −$10,083
• − Property taxes: −$2,700
• − Insurance: −$900
• − Repairs & maintenance: −$2,253
• − Management: −$2,253
• − Depreciation: −$5,236
• Taxable income: $4,739
• Est. tax owed @ 24.0%: −$1,137
• After-tax cash flow: $6,185/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.

Condition & rehab AI · 2 photos

Fair 45/100 Moderate rehab

This all-brick duplex requires moderate repairs and maintenance to improve its condition and value. Exterior siding, flooring, and interior walls need attention to enhance curb appeal and rental appeal.

Repairs flagged

• Major exterior siding — Significant wear and tear
• Major flooring — Worn carpet
• Major interior walls — Peeling paint

Value-add opportunities

• Both repair and paint exterior siding — Enhances curb appeal and property value
• Both replace worn carpet — Improves living space and rental appeal
• Both paint interior walls — Enhances interior appearance and rental appeal

Renovation cost estimate screening

Repair item	Severity	Est. cost
exterior siding · Significant wear and tear	Major	$15,000–50,000
flooring · Worn carpet	Major	$15,000–50,000
interior walls · Peeling paint	Major	$15,000–50,000
Total estimated repair cost · 3 items		$45,000–150,000

Value-add ROI direction

• Both repair and paint exterior siding — Enhances curb appeal and property value ↑
• Both replace worn carpet — Improves living space and rental appeal ↑
• Both paint interior walls — Enhances interior appearance and rental appeal ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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): 27,370
• Household income: $66,924
• Rent vs Own: 35.8% rent · 64.2% own
• Severe rent burden: 1179.0

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 (70%)
• Race & ethnicity: White 70% Black 17% Two or more races 5% Asian 5% Hispanic / Latino 5%
• Common ancestry: Romanian 2% Lithuanian 2% Italian 2%
• Foreign-born: 9% · Canada, South Korea, China
• Languages at home: 92% English-only · Spanish 2% Other Asian/Pacific 2% Other Indo-European 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: ▼ -76.07%
• Current HPI: 185.122
• Rent YoY: ▲ 10.35%
• 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

1 event — show timeline

• 2026-02-05 Listed $180,000 RMLSA as Distributed by MLS Grid