2121 N Bourland Ave · Peoria, IL 61604

$35,000

2 bd · 1.0 ba · 940 sqft · SingleFamily public records · 3 Days on market

Built 1900 3,484 sqft lot Est $53k · 34% under

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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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.7/5.0
• Rent growth +3.1/5.0
• Condition / age +2.5/5.0
• Schools +1.1/10.0
• Appreciation +0.0/10.0

Listing remarks

Investors take note: Great equity-building opportunity to add to your portfolio! Roof in 2022

Key facts

• 3,484 sq ft lot
• Parking
• Built 1900

Property features AI

Finance

• HOA & community: No association fee

Exterior

• Parking: Carport (no garage)
• Utilities: Public water; Public sewer; Electric service (standard power implied)
• Home design: Single family residence; Not new construction
• Construction: Built in 1900; 942 building area total
• Exterior features: Shingle roof; Sloped lot; Porch (additional room)

Interior

• Kitchen: Kitchen on the main level
• Bedrooms: Three bedrooms (one on the main level, one on the upper level, one on the upper level) — all bedrooms have egress windows
• Flooring: Laminate flooring in multiple rooms; Carpet in one bedroom; Other flooring on the porch
• Bathrooms: One full bathroom
• Heating & cooling: Forced air heating
• Interior features: Cellar basement; No fireplaces
• Laundry & utility: Gas water heater

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $35k.

Deal economics

• At list price, monthly cash flow is $545 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $35k).
• Cap rate 25.0% 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+, 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: Franklin Primary School (math 2% / reading 2%, grade F, #1,927 of 2,056 statewide, top 100%, 393 students, 0% FRL); Sterling Middle School (math 0% / reading 4%, grade F, #664 of 665 statewide, top 100%, 385 students, 0% FRL); 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 (+2.3%/yr); 180 active listings in the ZIP; 20 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% of comp listings sitting > 30 days — soft ceiling on asking rent; 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 $242 of loan paydown is wiped out by about $1k 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 + 2.3% rent growth), your $10k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

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

Recommended offer $35,000

Questions for the listing agent

1. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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.
6. 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.
7. 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: 2.88% ✓
• Cap rate: 24.99%
• Cash-on-cash: 66.77%
• DSCR: 3.97
• GRM: 2.9

CMA / ARV

• ARV (on-the-fly): $52,640
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1126 Thrush Ave	0.14mi	2/1.0	952 (+1%)	1mo	$62,500	$66	91
1214 W Brons Ave	0.11mi	2/1.0	864 (-8%)	2mo	$34,900	$40	80
1131 W Nowland Ave	0.22mi	1/1.0 (-1)	880 (-6%)	0mo	$53,500	$61	74
614 W Loucks Ave	0.54mi	3/1.0 (+1)	949 (+1%)	2mo	$38,500	$41	66
617 W Hanssler Pl	0.63mi	3/1.0 (+1)	952 (+1%)	2mo	$65,000	$68	62
2318 N Ellis St	0.46mi	2/1.0	842 (-10%)	3mo	$31,000	$37	59
2332 N Ellis St	0.48mi	2/1.0	840 (-11%)	2mo	$24,000	$29	58
1126 W Gilbert Ave	0.64mi	2/1.0	878 (-7%)	2mo	$89,900	$102	58
804 W Maywood Ave	0.72mi	3/1.0 (+1)	973 (+4%)	1mo	$134,000	$138	54
1708 N Machin Ave	0.32mi	3/1.0 (+1)	1,075 (+14%)	3mo	$60,650	$56	54
1324 W Gilbert Ave	0.66mi	2/1.0	1,016 (+8%)	3mo	$38,520	$38	54
1017 W Gilbert Ave	0.66mi	2/1.0	816 (-13%)	2mo	$20,000	$25	46

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 · 2.3% rent growth · sell at horizon

5-year hold

• IRR: 65.3%
• Equity multiple: 3.90×
• Total profit: $28,374
• Equity at exit: $5,219

10-year hold

• IRR: 69.4%
• Equity multiple: 7.80×
• Total profit: $66,660
• Equity at exit: $3,026

Cash invested: $9,800 (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 61604

• Home prices YoY: -24.6%
• Rents YoY: 2.3%
• Active inventory: 180
• Price-to-rent: 2.9×

Monthly cashflow live

• Estimated rent: $1,009 high
• Mortgage (P&I): −$184
• Tax from tax record: −$54 /mo · $644/yr
• Insurance: −$15
• HOA: −$0
• Vacancy / Maint / Mgmt: −$212
• Net cashflow: $545

Break-even live

Break-even rent $319

Max offer price $35,000

Occupancy floor 41%

Sensitivity live

Price	-10% $565	-5% $555	+0% $545	+5% $535	+10% $525
Rent	-10% $466	-5% $505	+0% $545	+5% $585	+10% $625
Rate	-1.0pp $563	-0.5pp $554	base $545	+0.5pp $536	+1.0pp $527

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: $8,750
• Closing costs: $1,050
• Reserves months: —
• Total cash needed: —

Rent comps 20 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2023 N Underhill St Peoria, IL	3.0	1.0	1050	$1,200	$1.14	14d	1	0.09mi
2214 N Linsley St Peoria, IL	2.0	1.0	575	$550	$0.96	44d	1	0.13mi
903 W Brons Ave Peoria, IL	3.0	1.0	971	$995	$1.02	44d	1	0.19mi
905 W Thrush Ave Peoria, IL	2.0	1.0	750	$950	$1.27	22d	1	0.22mi
1703 N Valley Ave Peoria, IL	2.0	1.0	676	$1,200	$1.78	14d	1	0.34mi
812 W Macqueen Ave Peoria, IL	2.0	1.0	822	$795	$0.97	44d	1	0.34mi
2207 N Ellis St Peoria, IL	2.0	1.0	864	$999	$1.16	14d	1	0.41mi
3108 N Parish Ave Peoria, IL	3.0	1.5	967	$1,750	$1.81	44d	1	0.86mi
511 W Elizabeth St Unit A Peoria, IL	1.0	1.0	850	$800	$0.94	44d	1	0.87mi
911 N Sheridan Rd Unit a1 Peoria, IL	2.0	1.0	825	$850	$1.03	14d	1	1.05mi
911 N Sheridan Rd Unit A4 Peoria, IL	2.0	1.0	825	$850	$1.03	44d	1	1.05mi
1505 N Peoria Ave Peoria, IL	1.0	1.0	525	$1,006	$1.92	14d	4	1.06mi
905 N Sheridan Rd Unit F Peoria, IL	1.0	1.0	650	$900	$1.38	44d	1	1.06mi
416 W Main St Unit A Peoria, IL	2.0	1.0	1050	$950	$0.90	44d	1	1.07mi
2610 N Renwood Ave Peoria, IL	2.0	1.0	904	$1,300	$1.44	14d	1	1.18mi
901 NE Glen Oak Ave Unit 2 Peoria, IL	3.0	1.0	1120	$1,200	$1.07	22d	1	1.35mi
2920 N Rockwood Dr Apt B Peoria, IL	2.0	1.0	800	$895	$1.12	14d	1	1.39mi
2511 W Wardcliffe Dr Unit H Peoria, IL	2.0	1.0	800	$875	$1.09	44d	1	1.41mi
737 E Gift Ave Unit 737 Peoria, IL	2.0	1.0	800	$1,125	$1.41	44d	1	1.42mi
1801 N Gentry Ln West Peoria, IL	3.0	1.0	1000	$1,650	$1.65	14d	1	1.44mi

Listing history 4 events

1. 2026-06-13
   statusdays on market $35,000 Pending 3 DOM
2. 2026-06-10
   days on market $35,000 Active 2 DOM
3. 2026-06-09
   remarks 93-char remark
4. 2026-06-09
   listed $35,000 Active 1 DOM

ⓘ 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: $644 · $54/mo
• Projected year-2 tax: $719 · $60/mo
• Expected delta: +$75/yr (+$6/mo · 11.7%)

ⓘ 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: $12,108
• − Mortgage interest: −$1,961
• − Property taxes: −$644
• − Insurance: −$175
• − Repairs & maintenance: −$969
• − Management: −$969
• − Depreciation: −$1,018
• Taxable income: $6,373
• Est. tax owed @ 24.0%: −$1,529
• After-tax cash flow: $5,014/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): 28,313
• Household income: $52,414
• Rent vs Own: 32.0% rent · 68.0% own
• Severe rent burden: 815.0

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 0.61)
• Race & ethnicity: White 55% Black 29% Two or more races 10% Hispanic / Latino 7% Asian 2%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Italian 2% Slovak 1% Iranian 1%
• Foreign-born: 6% · Canada, China
• Languages at home: 92% English-only · Spanish 4% Chinese 1% French/Haitian/Cajun 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: ▼ -54.15%
• Current HPI: 165.8838
• Rent YoY: ▲ 2.30%
• 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

• 2026-06-08 Listed $35,000 RMLSA as Distributed by MLS Grid

Property tax history

+26.1%/yr

Latest (2025): $644 · +15.0% YoY. Source: county tax records.