2109 W Millman St · Peoria, IL 61605

$40,000

2 bd · 1.0 ba · 931 sqft · SingleFamily public records · 3 Days on market

Built 1953 Est $33k · 23% over

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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
• Appreciation +5.3/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.1/10.0
• ARV discount +0.0/15.0

Listing remarks MLS

HOUSE & ALL FURNISHINGS ARE INCLUDED*NICE 2 BEDROOM BRICK HOME*FENCED REAR YARD*HARDWOOD FLOORS IN BEDROOMS*FURNACE 2 YEARS*NICE BREEZEWAY*

Key facts

• Garage
• Built 1953
• Listed 3 days

Property features AI

Finance

• Other: Directions: Main to Western to Millman; Located in Peoria Township (Unincorporated)
• HOA & community: No master association fee required

Exterior

• Parking: Attached garage with concrete driveway; One garage space (one total parking space)
• Utilities: Public water; Public sewer
• Home design: Detached single-family home; One-story; Fee simple ownership; Property is currently leased; Built before 1978
• Construction: Brick construction
• Exterior features: Lot less than 0.25 acre; Lot dimensions listed as 8102

Interior

• Kitchen: Kitchen on main level (11 x 11)
• Bedrooms: Main-level master bedroom (11 x 11); Main-level second bedroom (10 x 11); Two additional bedrooms (room types listed)
• Flooring: Laminate flooring in living room and dining room
• Bathrooms: One full bathroom
• Heating & cooling: Natural gas heating; Central air conditioning
• Interior features: Five total rooms; School bus service and commuter bus access nearby
• Laundry & utility: Main-level laundry room (3 x 6)

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $40k.

Deal economics

• At list price, monthly cash flow is $413 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($915 rent vs $40k).
• Cap rate 18.7% 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: 42 active listings in the ZIP; 19 comparable units currently listed for rent nearby; rentals leasing fast (median 14d on market — plan ~1-2 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 42% of the median local income ($26k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $530 of equity ($277 loan paydown + $253 appreciation (0.6% local appreciation)).
• Peoria County population projected at -11% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (0.6% appreciation + 3.0% rent growth), your $11k 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.
• 2 sale attempts since 23y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $34k; 18% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: property tax is 2.5% of price; built in 1953 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $40,000

Questions for the listing agent

1. Built in 1953 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 2.29% ✓
• Cap rate: 18.67%
• Cash-on-cash: 44.21%
• DSCR: 2.97
• GRM: 3.6

CMA / ARV

• ARV (on-the-fly): $32,585
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2000 W Antoinette St	0.42mi	2/1.0	924 (-1%)	2mo	$57,500	$62	77
2211 W Butler St	0.12mi	2/1.0	796 (-14%)	2mo	$27,500	$35	68
2507 W Moss Ave	0.60mi	2/1.0	944 (+1%)	3mo	$120,000	$127	67
2123 W Antoinette St	0.38mi	2/1.0	1,036 (+11%)	1mo	$22,000	$21	63
1713 W Smith St	0.42mi	2/1.0	1,009 (+8%)	4mo	$35,250	$35	63
2115 W Proctor St	0.32mi	3/1.0 (+1)	1,050 (+13%)	5mo	$5,900	$6	55
1200 S Matthew St	0.70mi	2/1.0	980 (+5%)	5mo	$49,500	$51	54
2112 W Ayres Ave	0.60mi	2/1.0	836 (-10%)	1mo	$120,000	$144	54
801 S Warren St	0.47mi	3/1.0 (+1)	1,026 (+10%)	4mo	$11,000	$11	53
2813 W Marquette St	0.72mi	1/1.0 (-1)	850 (-9%)	1mo	$20,000	$24	46
2722 W Marquette St	0.70mi	3/1.0 (+1)	1,008 (+8%)	6mo	$35,000	$35	43
2111 W Callender Ave	0.69mi	3/1.0 (+1)	1,050 (+13%)	1mo	$43,500	$41	41

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

0.63% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 46.3%
• Equity multiple: 3.35×
• Total profit: $26,347
• Equity at exit: $12,896

10-year hold

• IRR: 48.5%
• Equity multiple: 6.68×
• Total profit: $63,567
• Equity at exit: $16,566

Cash invested: $11,200 (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 61605

• Home prices YoY: 0.4%
• Active inventory: 42
• Price-to-rent: 3.6×

Monthly cashflow live

• Estimated rent: $915 high
• Mortgage (P&I): −$210
• Tax from tax record: −$84 /mo · $1,009/yr
• Insurance: −$17
• HOA: −$0
• Vacancy / Maint / Mgmt: −$192
• Net cashflow: $413

Break-even live

Break-even rent $393

Max offer price $40,000

Occupancy floor 50%

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: $10,000
• Closing costs: $1,200
• Reserves months: —
• Total cash needed: —

Rent comps 19 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2317 W Martin Luther King Junior Dr Unit 1-106 Peoria, IL	1.0	1.0	588	$775	$1.32	44d	1	0.24mi
2317 W Martin Luther King Junior Dr Unit 2-214 Peoria, IL	2.0	1.0	807	$800	$0.99	44d	1	0.24mi
2317 W Martin Luther King Junior Dr Peoria, IL	1.0–2.0	1.0	697	$800	$1.15	13d	3	0.24mi
2116 W Proctor St Peoria, IL	2.0	1.0	912	$879	$0.96	13d	1	0.31mi
1540 W Kettelle St Peoria, IL	3.0	1.0	1001	$748	$0.75	13d	1	0.48mi
928 S Matthew St Peoria, IL	2.0	1.0	1080	$748	$0.69	13d	1	0.52mi
2320 W Garden St Peoria, IL	2.0	1.0	1096	$1,000	$0.91	44d	1	0.52mi
945 S Shelley St Peoria, IL	1.0–3.0	1.0–2.0	929	$910	$0.98	13d	1	0.60mi
2822 W Antoinette St Peoria, IL	2.0	1.0	720	$1,149	$1.60	21d	1	0.69mi
3001 W Wiswall St Peoria, IL	2.0	1.0	1000	$1,100	$1.10	13d	1	0.70mi
1507 S Livingston St Peoria, IL	2.0	1.0	842	$946	$1.12	44d	1	0.77mi
1401 W Adrian G Hinton Ave Peoria, IL	2.0	1.0	1100	$775	$0.70	44d	1	0.78mi
3031 W Wiswall St Peoria, IL	2.0	1.0	1100	$1,100	$1.00	13d	1	0.79mi
1220 W John H Gwynn Jr Ave Peoria, IL	2.0	1.0	853	$745	$0.87	21d	1	0.87mi
906 S Tonti Cir Peoria, IL	2.0	1.0	780	$950	$1.22	13d	1	0.87mi
2804 W Humboldt St Peoria, IL	3.0	1.0	1060	$995	$0.94	13d	1	0.92mi
214 Pecan St Peoria, IL	2.0	1.0	1050	$1,595	$1.52	13d	1	1.23mi
1825 S Kneer Ave Peoria, IL	2.0	1.0	858	$858	$1.00	13d	1	1.31mi
2916 W Meidroth St Peoria, IL	2.0	1.0	1125	$1,049	$0.93	21d	1	1.42mi

Listing history 4 events

1. 2026-06-19
   days on market $40,000 Active 3 DOM
2. 2026-06-18
   days on market $40,000 Active 2 DOM
3. 2026-06-16
   remarks 699-char remark
4. 2026-06-16
   listed $40,000 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: $1,009 · $84/mo
• Projected year-2 tax: $1,009 · $84/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 · 17 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: $10,983
• − Mortgage interest: −$2,241
• − Property taxes: −$1,009
• − Insurance: −$200
• − Repairs & maintenance: −$879
• − Management: −$879
• − Depreciation: −$1,164
• Taxable income: $4,613
• Est. tax owed @ 24.0%: −$1,107
• After-tax cash flow: $3,844/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): 13,424
• Household income: $26,392
• Rent vs Own: 57.5% rent · 42.5% own
• Severe rent burden: 1385.0

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: Black 56% White 27% Hispanic / Latino 12% Two or more races 7% Native American 1%
• Hispanic origin (detail): Mexican 8%
• Common ancestry: Lithuanian 1% Iranian 1% Portuguese 1%
• Foreign-born: 4% · Canada, Vietnam
• Languages at home: 92% English-only · Spanish 7%

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: ▲ 0.63%
• Current HPI: 170.5814
• Rent YoY: —
• 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

+17.6% since first listed

4 events — show timeline

• 2026-06-15 Listed $40,000 MRED as Distributed by MLS Grid
• 2003-10-15 Sold (Public Records) $34,000 Public Records
• 2003-10-15 Sold (MLS) $34,000 RMLSA as Distributed by MLS Grid
• 2003-09-22 Listed $34,000 RMLSA as Distributed by MLS Grid

Property tax history

+0.4%/yr

Latest (2025): $1,009 · +0.6% YoY. Source: county tax records.