518 E Arcadia Ave · Peoria, IL 61603

$69,900

3 bd · 1.0 ba · 1,075 sqft · SingleFamily public records · 72 Days on market

Built 1928 4,356 sqft lot $65/sqft · 76% 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

WELCOME TO THIS CHARMING 3 BEDROOM, 1 BATH 1.5 STORY HOME CONVENIENTLY LOCATED IN THE HEART OF PEORIA! FRESHLY PAINTED INTERIOR WITH SPACIOUS ROOM SIZES THROUGHOUT & BEAUTIFUL ORIGINAL WOODWORK ADDING CHARACTER & WARMTH. INVITING LIVING ROOM FLOWS INTO A FORMAL DINING ROOM PERFECT FOR EVERYDAY LIVING OR ENTERTAINING. FUNCTIONAL KITCHEN OFFERS AMPLE CABINETRY & NATURAL LIGHT. MAIN LEVEL BEDROOMS WITH ADDITIONAL SPACE UPSTAIRS PROVIDE FLEXIBILITY FOR GUESTS, OFFICE, OR HOBBIES. ENJOY YOUR MORNING COFFEE OR EVENING TEA ON THE COVERED FRONT PORCH. EXTERIOR FEATURES INCLUDE A 2 CAR GARAGE & A CONVENIENT CENTRAL LOCATION CLOSE TO SHOPPING, DINING, & INTERSTATE ACCESS. SCHEDULE YOUR SHOWING TODAY!

Key facts

• 4,356 sq ft lot
• 2 garage spots
• Built 1928

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $70k.

Deal economics

• At list price, monthly cash flow is $316 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $70k).
• Recommended offer: $66k (6.0% below list) — sets the bar for market timing.
• Cap rate 11.7% 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; 21 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 48% of comp listings sitting > 30 days — soft ceiling on asking rent; lower-income renter base — watch delinquency; 73 units permitted in Peoria County in 2024 (0 in 5+ unit buildings).
• This rent runs 30% 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 $483 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 $20k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 72 days — a 6% lower offer ($66k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 11y ago; this cycle's ask has dropped $5k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $50k; 40% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1928 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $65,706 (6.0% below list)

Questions for the listing agent

1. It's been on market 72 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1928 — 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: 1.51% ✓
• Cap rate: 11.72%
• Cash-on-cash: 19.39%
• DSCR: 1.86
• GRM: 5.5

CMA / ARV

• ARV (median comp): $39,681
• List price: $69,900
• Delta: 88.76%
• 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
603 E Thrush Ave	0.04mi	3/1.0	960 (-11%)	3mo	$30,000	$31	78
2136 N Delaware St	0.28mi	3/1.0	1,130 (+5%)	3mo	$47,500	$42	76
606 E Arcadia Ave	0.02mi	4/1.0 (+1)	962 (-10%)	2mo	$38,000	$40	75
718 E Behrends Ave	0.42mi	3/1.0	1,140 (+6%)	2mo	$71,000	$62	69
2206 N Wisconsin Ave	0.19mi	3/2.0	1,217 (+13%)	0mo	$30,000	$25	65
1235 E Seneca Pl	0.66mi	3/1.0	1,062 (-1%)	3mo	$62,000	$58	64
412 E Republic St	0.15mi	2/1.0 (-1)	925 (-14%)	1mo	$26,200	$28	64
1002 E Willcox Ave	0.55mi	3/2.0	1,023 (-5%)	1mo	$89,000	$87	62
112 E Gift Ave	0.39mi	3/2.0	971 (-10%)	2mo	$90,000	$93	60
2709 N California Ave	0.40mi	3/1.0	1,232 (+15%)	4mo	$78,400	$64	53
924 E Maywood Ave	0.62mi	2/1.0 (-1)	1,000 (-7%)	3mo	$70,000	$70	52
1631 N Dechman Ave	0.59mi	2/1.0 (-1)	956 (-11%)	0mo	$30,000	$31	49

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: 12.0%
• Equity multiple: 1.48×
• Total profit: $9,373
• Equity at exit: $10,422

10-year hold

• IRR: 21.4%
• Equity multiple: 2.86×
• Total profit: $36,414
• Equity at exit: $6,044

Cash invested: $19,572 (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: 5.5×

Monthly cashflow live

• Estimated rent: $1,056 high
• Mortgage (P&I): −$367
• Tax from tax record: −$122 /mo · $1,469/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$222
• Net cashflow: $316

Break-even live

Break-even rent $656

Max offer price $69,900

Occupancy floor 65%

Sensitivity live

Price	-10% $356	-5% $336	+0% $316	+5% $296	+10% $277
Rent	-10% $233	-5% $274	+0% $316	+5% $358	+10% $400
Rate	-1.0pp $351	-0.5pp $334	base $316	+0.5pp $298	+1.0pp $280

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: $17,475
• Closing costs: $2,097
• Reserves months: —
• Total cash needed: —

Rent comps 21 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
308 E Archer Ave Peoria, IL	3.0	1.0	1444	$950	$0.66	14d	1	0.16mi
505 E Virginia Ave Peoria, IL	2.0	2.0	1204	$758	$0.63	14d	1	0.25mi
2210 Knoxville Ave #2212 Peoria, IL	2.0	1.0	1284	$950	$0.74	44d	1	0.29mi
737 E Gift Ave Unit 737 Peoria, IL	2.0	1.0	800	$1,125	$1.41	44d	1	0.37mi
2121 N Prospect Rd Peoria, IL	3.0	1.0	946	$802	$0.85	14d	1	0.56mi
901 NE Glen Oak Ave Unit 2 Peoria, IL	3.0	1.0	1120	$1,200	$1.07	21d	1	0.73mi
2207 N Ellis St Peoria, IL	2.0	1.0	864	$999	$1.16	14d	1	0.76mi
812 W Macqueen Ave Peoria, IL	2.0	1.0	822	$795	$0.97	44d	1	0.94mi
814 W McClure Ave Peoria, IL	3.0	1.0	1148	$1,100	$0.96	44d	1	0.95mi
506 Caroline St Unit B Peoria, IL	2.0	1.0	1000	$900	$0.90	14d	1	0.97mi
903 W Brons Ave Peoria, IL	3.0	1.0	971	$995	$1.02	44d	1	0.99mi
905 W Thrush Ave Peoria, IL	2.0	1.0	750	$950	$1.27	21d	1	1.00mi
501 W Columbia Ter Unit 3 Peoria, IL	3.0	1.0	1500	$1,400	$0.93	44d	1	1.04mi
913 W McClure Ave Peoria, IL	3.0	1.0	1400	$1,200	$0.86	21d	1	1.04mi
2302 NE Monroe St Peoria, IL	3.0	1.0	1100	$875	$0.80	14d	1	1.19mi
416 W Main St Unit A Peoria, IL	2.0	1.0	1050	$950	$0.90	44d	1	1.25mi
2023 N Underhill St Peoria, IL	3.0	1.0	1050	$1,200	$1.14	14d	1	1.25mi
3108 N Parish Ave Peoria, IL	3.0	1.5	967	$1,750	$1.81	44d	1	1.33mi
526 Fairholm Ave Peoria, IL	3.0	2.0	1174	$925	$0.79	44d	1	1.36mi
911 N Sheridan Rd Unit A4 Peoria, IL	2.0	1.0	825	$850	$1.03	44d	1	1.42mi
911 N Sheridan Rd Unit a1 Peoria, IL	2.0	1.0	825	$850	$1.03	14d	1	1.42mi

Listing history 28 events

1. 2026-06-19
   pricedays on market $69,900 Active 72 DOM
2. 2026-06-18
   days on market $74,900 Active 71 DOM
3. 2026-06-17
   days on market $74,900 Active 70 DOM
4. 2026-06-16
   days on market $74,900 Active 69 DOM
5. 2026-06-15
   days on market $74,900 Active 68 DOM
6. 2026-06-14
   days on market $74,900 Active 66 DOM
7. 2026-06-13
   days on market $74,900 Active 65 DOM
8. 2026-06-10
   days on market $74,900 Active 63 DOM
9. 2026-06-09
   days on market $74,900 Active 62 DOM
10. 2026-06-08
    days on market $74,900 Active 61 DOM
11. 2026-06-07
    days on market $74,900 Active 60 DOM
12. 2026-06-03
    days on market $74,900 Active 56 DOM
13. 2026-06-02
    days on market $74,900 Active 55 DOM
14. 2026-06-01
    days on market $74,900 Active 54 DOM
15. 2026-05-31
    days on market $74,900 Active 53 DOM
16. 2026-05-30
    days on market $74,900 Active 52 DOM
17. 2026-04-06
    listed $74,900 Active 719-char remark

    Show marketing remark (719 chars)

    WELCOME TO THIS CHARMING 3 BEDROOM, 1 BATH 1.5 STORY HOME CONVENIENTLY LOCATED IN THE HEART OF PEORIA! FRESHLY PAINTED INTERIOR WITH SPACIOUS ROOM SIZES THROUGHOUT & BEAUTIFUL ORIGINAL WOODWORK ADDING CHARACTER & WARMTH. INVITING LIVING ROOM FLOWS INTO A FORMAL DINING ROOM PERFECT FOR EVERYDAY LIVING OR ENTERTAINING. FUNCTIONAL KITCHEN OFFERS AMPLE CABINETRY & NATURAL LIGHT. MAIN LEVEL BEDROOMS WITH ADDITIONAL SPACE UPSTAIRS PROVIDE FLEXIBILITY FOR GUESTS, OFFICE, OR HOBBIES. ENJOY YOUR MORNING COFFEE OR EVENING TEA ON THE COVERED FRONT PORCH. EXTERIOR FEATURES INCLUDE A 2 CAR GARAGE & A CONVENIENT CENTRAL LOCATION CLOSE TO SHOPPING, DINING, & INTERSTATE ACCESS. SCHEDULE YOUR SHOWING TODAY!

18. 2024-10-29
    historical $1,098
19. 2024-10-05
    price $1,098
20. 2024-09-23
    listed $1,198
21. 2021-09-28
    soldstatus $49,900
22. 2021-09-23
    soldstatus $49,900 316-char remark

    Show marketing remark (316 chars)

    Move right into this beautifully redone 3 bedroom! New paint and floor coverings, bath updated. Kitchen with new stainless appliances, new ceiling fans & light fixtures. Newer central air. Freshly painted basement, 2 car garage, inviting front porch! Why rent when you can own! A great place to call home!

23. 2021-09-07
    listed $49,900 316-char remark

    Show marketing remark (316 chars)

    Move right into this beautifully redone 3 bedroom! New paint and floor coverings, bath updated. Kitchen with new stainless appliances, new ceiling fans & light fixtures. Newer central air. Freshly painted basement, 2 car garage, inviting front porch! Why rent when you can own! A great place to call home!

24. 2021-08-06
    historical
25. 2015-06-09
    soldstatus $31,500
26. 2015-06-05
    soldstatus $31,500
27. 2015-04-17
    listed $33,000
28. 1998-12-23
    soldstatus $25,000

ⓘ 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: $1,469 · $122/mo
• Projected year-2 tax: $1,528 · $127/mo
• Expected delta: +$59/yr (+$5/mo · 4.0%)

ⓘ 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: $12,673
• − Mortgage interest: −$3,915
• − Property taxes: −$1,469
• − Insurance: −$350
• − Repairs & maintenance: −$1,014
• − Management: −$1,014
• − Depreciation: −$2,033
• Taxable income: $2,878
• Est. tax owed @ 24.0%: −$691
• After-tax cash flow: $3,104/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

+199.6% since first listed

12 events — show timeline

• 2026-04-06 Listed $74,900 RMLSA as Distributed by MLS Grid
• 2024-10-29 Rental Removed $1,098 RMLSA
• 2024-10-05 Price Changed $1,098 RMLSA
• 2024-09-23 Listed for Rent $1,198 RMLSA
• 2021-09-28 Sold (Public Records) $49,900 Public Records
• 2021-09-23 Sold (MLS) $49,900 RMLSA as Distributed by MLS Grid
• 2021-09-07 Listed $49,900 RMLSA as Distributed by MLS Grid
• 2021-08-06 Listing Removed — RMLSA as Distributed by MLS Grid
• 2015-06-09 Sold (Public Records) $31,500 Public Records
• 2015-06-05 Sold (MLS) $31,500 RMLSA as Distributed by MLS Grid
• 2015-04-17 Listed $33,000 RMLSA as Distributed by MLS Grid
• 1998-12-23 Sold (Public Records) $25,000 Public Records

Property tax history

+3.5%/yr

Latest (2024): $1,469 · +4.8% YoY. Source: county tax records.