121 Pershing Pl · East Peoria, IL 61611

$109,900

3 bd · 1.0 ba · 780 sqft · SingleFamily public records · 17 Days on market

Built 1928 3,000 sqft lot Est $90k · 23% over

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Why this score? — see what drove the D+ 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 +22.9/30.0
• DSCR +7.4/10.0
• 1% rule +6.2/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.5/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

3 bedroom home in central East Peoria location close to schools, restaurants and amenities. Main floor has living room, formal dining room and 2 bedrooms. Upper level is one large bedroom. Full Basement has laundry area, unfinished recreation room and storage area. Fenced in backyard with privacy fencing and 1 stall garage. Exterior and garage need some TLC - great for equity build or investor!

Key facts

• Shaded yard
• Nearby parks
• Functional layout

Tags

• MOVE IN READY
• FUNCTIONAL LAYOUT
• DETACHED GARAGE
• SHADED YARD
• NEARBY PARKS
• SHORT DRIVE TO LEVEE DISTRICT

Property features AI

Exterior

• Parking: Detached 1-car garage
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Approximately 1260 total building area; Built in 1928
• Construction: Shingle roof; Not new construction
• Exterior features: Level lot; Lot dimensions approximately 75 x 40

Interior

• Kitchen: Kitchen included (refrigerator provided)
• Bedrooms: Three bedrooms; Primary bedroom on the upper level; One bedroom on the lower level; Bedrooms have egress windows
• Flooring: Laminate flooring in several rooms; Carpet in the living room; Vinyl flooring in the kitchen
• Bathrooms: One full bathroom
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Full, unfinished basement; Washer and dryer included; Refrigerator included; No fireplace
• Laundry & utility: Washer and dryer included; Full basement provides additional utility/storage space

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $110k.

Deal economics

• At list price, monthly cash flow is $193 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $110k).
• Recommended offer: $108k (1.5% below list) — sets the bar for market timing.
• Cap rate 8.4% vs local median 4.6% in East 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 75/100 on livability (#209 in IL, #3,927 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities D, commute F.
• East Peoria Chsd 309 (suburban): math 17% / reading 15% proficiency, ranked #482 of 620 in IL (top 78%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: East Peoria High School (math 17% / reading 15%, grade F, #457 of 693 statewide, top 66%, 947 students, 0% FRL).
• Market conditions: 145 active listings in the ZIP; 77 units permitted in Tazewell County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $760 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Tazewell County population projected at -15% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 17 days — a 2% lower offer ($108k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 5y 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 $65k; list at $110k implies a 69% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

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

Recommended offer $108,251 (1.5% below list)

Questions for the listing agent

1. Built in 1928 — 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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 1.12% ✓
• Cap rate: 8.40%
• Cash-on-cash: 7.54%
• DSCR: 1.34
• GRM: 7.4

CMA / ARV

• ARV (on-the-fly): $89,700
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
147 Caroline St	0.25mi	2/1.0 (-1)	813 (+4%)	2mo	$109,000	$134	75
320 E Sheen Ave	0.17mi	2/1.0 (-1)	728 (-7%)	20mo	$49,900	$69	59
116 Linden St	0.29mi	2/1.0 (-1)	824 (+6%)	19mo	$95,000	$115	57
129 Pierson St	0.18mi	2/1.0 (-1)	672 (-14%)	11mo	$73,900	$110	55

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -4.8%
• Equity multiple: 0.82×
• Total profit: $-5,459
• Equity at exit: $16,386

10-year hold

• IRR: 5.0%
• Equity multiple: 1.37×
• Total profit: $11,234
• Equity at exit: $9,502

Cash invested: $30,772 (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 61611

• Home prices YoY: -30.8%
• Active inventory: 145
• Price-to-rent: 7.4×

Monthly cashflow live

• Estimated rent: $1,231 medium
• Mortgage (P&I): −$576
• Tax from tax record: −$157 /mo · $1,884/yr
• Insurance: −$46
• HOA: −$0
• Vacancy / Maint / Mgmt: −$259
• Net cashflow: $193

Break-even live

Break-even rent $986

Max offer price $109,900

Occupancy floor 79%

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: $27,475
• Closing costs: $3,297
• Reserves months: —
• Total cash needed: —

Listing history 13 events

1. 2026-06-19
   days on market $109,900 Active 17 DOM
2. 2026-06-18
   days on market $109,900 Active 16 DOM
3. 2026-06-17
   days on market $109,900 Active 15 DOM
4. 2026-06-16
   days on market $109,900 Active 14 DOM
5. 2026-06-15
   days on market $109,900 Active 13 DOM
6. 2026-06-14
   days on market $109,900 Active 11 DOM
7. 2026-06-13
   days on market $109,900 Active 10 DOM
8. 2026-06-10
   days on market $109,900 Active 8 DOM
9. 2026-06-09
   days on market $109,900 Active 7 DOM
10. 2026-06-08
    days on market $109,900 Active 6 DOM
11. 2026-06-07
    days on market $109,900 Active 5 DOM
12. 2026-06-03
    remarks 665-char remark
13. 2026-06-03
    listed $109,900 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: $1,884 · $157/mo
• Projected year-2 tax: $2,189 · $182/mo
• Expected delta: +$305/yr (+$25/mo · 16.2%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 20% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥104°F today · 19 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: $14,773
• − Mortgage interest: −$6,156
• − Property taxes: −$1,884
• − Insurance: −$550
• − Repairs & maintenance: −$1,182
• − Management: −$1,182
• − Depreciation: −$3,197
• Taxable income: $622
• Est. tax owed @ 24.0%: −$149
• After-tax cash flow: $2,172/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: East Peoria Chsd 309
• NCES district ID: 1713230
• Math proficiency: 17% ▼ -6.00%
• Reading proficiency: 15% ▼ -9.00%
• Median HH income: $51,439
• Composite: 14.75/100
• National rank: #9394
• State rank: #482 of 620 in IL

Livability — East Peoria

• Score: 75/100
• State rank: #209
• US rank: #3927

Category grades

Amenities D Commute F Cost of living A+ Crime C Employment C+ Housing A+ Health & safety A+ User ratings B

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: East Peoria, IL
• City population: 23,698
• Population (ZIP): 23,698

Population outlook (Tazewell County) Hauer SSP2

• Today (2025): 131,252 people
• By 2030: 128,028 · -2.5%
• By 2040: 120,443 · -8.2%
• By 2050: 111,872 · -14.8%
• By 2075: 89,843 · -31.5%
• By 2100: 66,468 · -49.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (92%)
• Race & ethnicity: White 92% Two or more races 4% Hispanic / Latino 3% Black 1%
• Common ancestry: Lithuanian 3% Italian 2% Romanian 2%
• Foreign-born: 1%
• Languages at home: 98% English-only · Spanish 1%

Political lean MEDSL · Tazewell

• 2024 margin: Strong R (+26.7) · D 35.8% · R 62.5% · Other 1.8%
• 2008→2024 swing: -20.6pp toward R · 2008: -6.0pp · 2024: -26.7pp
• All cycles: 2024: R+26.7 2020: R+25.6 2016: R+28.5 2012: R+17.9 2008: R+6.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -71.82%
• Current HPI: 161.385
• Rent YoY: —
• Metro: —
• 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

+103.5% since first listed

20 events — show timeline

• 2026-06-02 Listed $109,900 RMLSA as Distributed by MLS Grid
• 2025-05-25 Rental Removed $1,250 APPFOLIO
• 2025-05-09 Listed for Rent $1,250 APPFOLIO
• 2025-03-20 Sold (MLS) $65,000 RMLSA as Distributed by MLS Grid
• 2025-02-17 Contingent — RMLSA as Distributed by MLS Grid
• 2025-02-14 Listed $59,900 RMLSA as Distributed by MLS Grid
• 2024-11-12 Listing Removed — RMLSA as Distributed by MLS Grid
• 2024-09-06 Price Changed — RMLSA as Distributed by MLS Grid
• 2024-06-14 Price Changed — RMLSA as Distributed by MLS Grid
• 2024-05-20 Listed — RMLSA as Distributed by MLS Grid
• 2023-10-17 Relisted — RMLSA as Distributed by MLS Grid
• 2022-08-04 Listing Removed — RMLSA as Distributed by MLS Grid
• 2022-08-02 Listing Removed — RMLSA as Distributed by MLS Grid
• 2022-08-02 Relisted — RMLSA as Distributed by MLS Grid
• 2022-08-02 Listing Removed — RMLSA as Distributed by MLS Grid
• 2022-08-01 Listed — RMLSA as Distributed by MLS Grid
• 2022-05-24 Price Changed $995 RENT.
• 2022-01-07 Sold (Public Records) $75,000 Public Records
• 2022-01-05 Sold (MLS) $50,000 RMLSA as Distributed by MLS Grid
• 2021-12-07 Listed $54,000 RMLSA as Distributed by MLS Grid

Property tax history

+1.6%/yr

Latest (2024): $1,884 · -6.7% YoY. Source: county tax records.