1515 NE Perry Ave · Peoria, IL 61603

$99,500

4 bd · 2.0 ba · 2,234 sqft · SingleFamily public records · 3 Days on market

Built 1920 6,969 sqft lot

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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 +29.6/30.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• 1% rule +7.1/10.0
• 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

Lovingly maintained 2 story 4 Bedroom 2 bath 1920s home with all vintage details - Coffered ceilings, Stained glass windows, Built in dining room buffet, natural wood work detailing and grand staircase plus back staircase. Updated kitchen with stainless steel appliances and Main floor laundry. 3 car detached garage. Porch with swing.

Key facts

• Coffered ceilings
• Grand staircase
• Back staircase

Tags

• COFFERED CEILINGS
• STAINED GLASS WINDOWS
• BUILT IN DINING ROOM BUFFET
• NATURAL WOOD WORK DETAILING
• GRAND STAIRCASE
• BACK STAIRCASE

Property features AI

Exterior

• Parking: Detached garage with space for 3 cars; On-street parking available; Alley access
• Utilities: Public water; Public sewer
• Home design: Single family residence; Two levels; Built in 1920; Shingle roof; Zoned R4
• Construction: Year built 1920
• Exterior features: Level to terraced/sloping lot; Lot dimensions approximately 45 x 150 ft

Interior

• Kitchen: Dishwasher; Microwave; Refrigerator; Kitchen with Luxury Vinyl Plank flooring
• Bedrooms: Four bedrooms (three on the upper level with egress windows; one additional bedroom listed); Primary bedroom dimensions approximately 13.04 x 13 ft (upper level); Second bedroom approximately 13.02 x 12 ft (upper level); Third bedroom approximately 13.1 x 9.11 ft (upper level); Fourth bedroom approximately 11.02 x 8.08 ft (upper level)
• Flooring: Hardwood floors in living and family rooms and dining room; Luxury Vinyl Plank in kitchen and laundry; Carpet in bedrooms
• Bathrooms: Two full bathrooms
• Heating & cooling: Central air conditioning; Forced air heating; Gas water heater
• Interior features: Attic storage; Ceiling fans; One fireplace; Full unfinished basement
• Laundry & utility: Main-level laundry room (about 8.02 x 7.05 ft)

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $100k.

Deal economics

• At list price, monthly cash flow is $358 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $100k).
• Cap rate 10.6% 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: Manual High School (math 2% / reading 2%, grade F, #659 of 693 statewide, top 100%, 656 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 (+3.5%/yr); 104 active listings in the ZIP; 3 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 35% 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 $688 of loan paydown is wiped out by about $3k 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 $28k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 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 $55k; list at $100k implies a 81% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $99,500

Questions for the listing agent

1. Built in 1920 — 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: 1.21% ✓
• Cap rate: 10.61%
• Cash-on-cash: 15.42%
• DSCR: 1.69
• GRM: 6.9

CMA / ARV

• ARV (on-the-fly): $60,318
• Comps found: 11

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1515 NE Perry Ave	0.00mi	4/2.0	2,446 (+10%)	0mo	$95,000	$39	84
1413 NE Madison Ave	0.19mi	4/2.5	2,510 (+12%)	6mo	$142,500	$57	63
1144 NE Glen Oak Ave	0.35mi	4/1.0	2,195 (-2%)	21mo	$102,500	$47	59
2217 NE Madison Ave	0.57mi	4/1.0	2,068 (-7%)	4mo	$29,000	$14	54
712 E Ravine Ave	0.48mi	3/1.0 (-1)	2,264 (+1%)	16mo	$50,000	$22	53
2407 N Central Ave	0.70mi	3/1.0 (-1)	2,212 (-1%)	6mo	$53,000	$24	52
1309 E Hillcrest Pl	0.31mi	3/1.5 (-1)	2,472 (+11%)	20mo	$154,000	$62	44
1831 N New York Ave	0.64mi	5/2.0 (+1)	2,104 (-6%)	15mo	$71,400	$34	43
2403 N Central Ave	0.69mi	4/3.0	2,512 (+12%)	4mo	$69,000	$27	40
1802 NE Madison Ave	0.28mi	3/2.0 (-1)	1,904 (-15%)	24mo	$35,000	$18	37
903 E Republic St	0.55mi	5/2.0 (+1)	1,920 (-14%)	16mo	$30,000	$16	33

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: 6.6%
• Equity multiple: 1.26×
• Total profit: $7,238
• Equity at exit: $14,836

10-year hold

• IRR: 16.3%
• Equity multiple: 2.36×
• Total profit: $37,984
• Equity at exit: $8,603

Cash invested: $27,860 (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: 6.9×

Monthly cashflow live

• Estimated rent: $1,206 medium
• Mortgage (P&I): −$522
• Tax from tax record: −$32 /mo · $382/yr
• Insurance: −$41
• HOA: −$0
• Vacancy / Maint / Mgmt: −$253
• Net cashflow: $358

Break-even live

Break-even rent $753

Max offer price $99,500

Occupancy floor 65%

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: $24,875
• Closing costs: $2,985
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1806 N Peoria Ave Peoria, IL	4.0	1.5	1668	$894	$0.54	13d	1	0.81mi
308 E Archer Ave Peoria, IL	3.0	1.0	1444	$950	$0.66	13d	1	0.99mi
501 W Columbia Ter Unit 3 Peoria, IL	3.0	1.0	1500	$1,400	$0.93	43d	1	1.32mi

Listing history 3 events

1. 2026-06-07
   statusdays on market $99,500 Pending 3 DOM
2. 2026-06-03
   remarks 335-char remark
3. 2026-06-03
   listed $99,500 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: $382 · $32/mo
• Projected year-2 tax: $1,320 · $110/mo
• Expected delta: +$939/yr (+$78/mo · 246.0%)

ⓘ 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: $14,477
• − Mortgage interest: −$5,574
• − Property taxes: −$382
• − Insurance: −$498
• − Repairs & maintenance: −$1,158
• − Management: −$1,158
• − Depreciation: −$2,895
• Taxable income: $2,813
• Est. tax owed @ 24.0%: −$675
• After-tax cash flow: $3,621/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

+107.7% since first listed

11 events — show timeline

• 2026-05-29 Listed $99,500 RMLSA as Distributed by MLS Grid
• 2021-08-06 Listing Removed — RMLSA as Distributed by MLS Grid
• 2021-08-06 Listing Removed — RMLSA as Distributed by MLS Grid
• 2021-08-06 Listing Removed — RMLSA as Distributed by MLS Grid
• 2019-03-21 Sold (MLS) $55,000 RMLSA as Distributed by MLS Grid
• 2019-02-13 Listed $70,000 RMLSA as Distributed by MLS Grid
• 2014-05-09 Sold (MLS) $19,000 RMLSA as Distributed by MLS Grid
• 2014-02-18 Listed $29,900 RMLSA as Distributed by MLS Grid
• 2003-12-08 Sold (Public Records) $42,000 Public Records
• 2003-12-05 Sold (MLS) $42,000 RMLSA as Distributed by MLS Grid
• 2003-06-04 Listed $47,900 RMLSA as Distributed by MLS Grid

Property tax history

-9.2%/yr

Latest (2019): $382 · -48.7% YoY. Source: county tax records.