2701 N Dechman Ave · Peoria, IL 61603

$54,900

3 bd · 2.0 ba · 1,196 sqft · SingleFamily public records · 41 Days on market

Built 1920 6,534 sqft lot $46/sqft · 13% below area Est $65k · 15% 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 +14.2/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• 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

Located at 2701 N Dechman Ave in Peoria, this 3-bedroom, 1.5-bathroom bungalow is a solid opportunity for investors or DIY buyers. The home features original hardwood floors, traditional built-in cabinetry, and a bright bay window in the formal dining area. With a functional galley kitchen, a welcoming front porch, and a detached garage, the property offers a great foundation for a refresh. This sale is strictly as-is, with no repairs or credits provided by the seller, making it a straightforward project for anyone looking to build equity or expand a rental portfolio.

Key facts

• Bright bay window
• Detached garage
• 6,534 sq ft lot

Tags

• ORIGINAL HARDWOOD FLOORS
• TRADITIONAL BUILT-IN CABINETRY
• BRIGHT BAY WINDOW
• FUNCTIONAL GALLEY KITCHEN
• WELCOMING FRONT PORCH
• DETACHED GARAGE

Property features AI

Finance

• Other: Subdivision: Jackson Park
• HOA & community: No association fees

Exterior

• Parking: Detached 2-car garage
• Utilities: Public water; Public sewer
• Home design: Single family residence; Two levels; Built in 1920
• Construction: Shingle roof
• Exterior features: Fenced yard; Level lot; Lot dimensions approximately 50 x 127

Interior

• Kitchen: Kitchen with laminate flooring; Includes dishwasher and refrigerator
• Bedrooms: 3 bedrooms (all on upper level); Egress windows in bedrooms
• Flooring: Hardwood in living and dining rooms; Laminate in kitchen and laundry; Other flooring in bedrooms
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Central air conditioning; Forced air heating; Gas water heater
• Interior features: Dishwasher; Refrigerator; Full unfinished basement
• Laundry & utility: Main-level laundry room

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $55k.

Deal economics

• At list price, monthly cash flow is $412 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $55k).
• Recommended offer: $53k (3.0% below list) — sets the bar for market timing.
• Cap rate 15.3% 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: 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 (+3.5%/yr); 104 active listings in the ZIP; 24 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 42% 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 31% 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 $380 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 $15k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 41 days — a 3% lower offer ($53k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 26y ago; this cycle's ask has dropped $15k (21%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: property tax is 3.0% of price; built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $53,253 (3.0% below list)

Questions for the listing agent

1. It's been on market 41 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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: 1.99% ✓
• Cap rate: 15.29%
• Cash-on-cash: 32.13%
• DSCR: 2.43
• GRM: 4.2

CMA / ARV

• ARV (median comp): $64,559
• List price: $54,900
• Delta: -14.96%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
510 W Gift Ave	0.44mi	3/1.0	1,224 (+2%)	2mo	$115,575	$94	70
308 E Corrington Ave	0.16mi	2/1.0 (-1)	1,284 (+7%)	2mo	$94,600	$74	70
2206 N Wisconsin Ave	0.60mi	3/2.0	1,217 (+2%)	0mo	$30,000	$25	69
2635 N Peoria Ave	0.06mi	3/1.0	1,366 (+14%)	2mo	$93,000	$68	67
726 W Corrington Ave	0.65mi	3/1.0	1,200 (+0%)	2mo	$79,900	$67	64
222 E Odell Pl	0.42mi	3/1.0	1,088 (-9%)	1mo	$98,000	$90	61
2208 N Ellis St	0.63mi	3/2.0	1,261 (+5%)	3mo	$44,000	$35	59
2312 N Ellis St	0.57mi	3/1.0	1,258 (+5%)	3mo	$44,000	$35	59
315 E Elmhurst Ave	0.41mi	3/1.5	1,046 (-12%)	1mo	$111,000	$106	57
2211 N Ellis St	0.65mi	3/1.0	1,127 (-6%)	1mo	$33,000	$29	55
504 W Archer Ave	0.53mi	3/1.0	1,344 (+12%)	3mo	$26,000	$19	48
1002 E Willcox Ave	0.64mi	3/2.0	1,023 (-14%)	1mo	$89,000	$87	45

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: 27.8%
• Equity multiple: 2.17×
• Total profit: $17,916
• Equity at exit: $8,186

10-year hold

• IRR: 35.6%
• Equity multiple: 4.37×
• Total profit: $51,836
• Equity at exit: $4,747

Cash invested: $15,372 (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: 4.2×

Monthly cashflow live

• Estimated rent: $1,091 high
• Mortgage (P&I): −$288
• Tax from tax record: −$139 /mo · $1,670/yr
• Insurance: −$23
• HOA: −$0
• Vacancy / Maint / Mgmt: −$229
• Net cashflow: $412

Break-even live

Break-even rent $570

Max offer price $54,900

Occupancy floor 57%

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: $13,725
• Closing costs: $1,647
• Reserves months: —
• Total cash needed: —

Rent comps 24 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
505 E Virginia Ave Peoria, IL	2.0	2.0	1204	$758	$0.63	13d	1	0.25mi
308 E Archer Ave Peoria, IL	3.0	1.0	1444	$950	$0.66	13d	1	0.30mi
2210 Knoxville Ave #2212 Peoria, IL	2.0	1.0	1284	$950	$0.74	43d	1	0.35mi
737 E Gift Ave Unit 737 Peoria, IL	2.0	1.0	800	$1,125	$1.41	43d	1	0.45mi
2207 N Ellis St Peoria, IL	2.0	1.0	864	$999	$1.16	13d	1	0.63mi
814 W McClure Ave Peoria, IL	3.0	1.0	1148	$1,100	$0.96	43d	1	0.69mi
812 W Macqueen Ave Peoria, IL	2.0	1.0	822	$795	$0.97	43d	1	0.70mi
913 W McClure Ave Peoria, IL	3.0	1.0	1400	$1,200	$0.86	21d	1	0.77mi
905 W Thrush Ave Peoria, IL	2.0	1.0	750	$950	$1.27	21d	1	0.81mi
903 W Brons Ave Peoria, IL	3.0	1.0	971	$995	$1.02	43d	1	0.83mi
2121 N Prospect Rd Peoria, IL	3.0	1.0	946	$802	$0.85	13d	1	0.93mi
3108 N Parish Ave Peoria, IL	3.0	1.5	967	$1,750	$1.81	43d	1	0.94mi
2023 N Underhill St Peoria, IL	3.0	1.0	1050	$1,200	$1.14	13d	1	1.10mi
901 NE Glen Oak Ave Unit 2 Peoria, IL	3.0	1.0	1120	$1,200	$1.07	21d	1	1.12mi
1413 W Gilbert Ave Peoria, IL	2.0	2.0	1428	$1,500	$1.05	13d	1	1.17mi
501 W Columbia Ter Unit 3 Peoria, IL	3.0	1.0	1500	$1,400	$0.93	43d	1	1.21mi
W Crestwood Dr Peoria, IL	1.0–2.0	1.0	800	$975	$1.22	13d	4	1.23mi
811 W Purtscher Dr Peoria, IL	3.0	1.0	864	$1,100	$1.27	43d	1	1.30mi
126 E Lake Ave Peoria, IL	2.0	1.0	950	$1,050	$1.11	13d	9	1.32mi
3912 N Atlantic Ave Peoria Heights, IL	2.0	1.0	825	$1,100	$1.33	43d	1	1.35mi
506 Caroline St Unit B Peoria, IL	2.0	1.0	1000	$900	$0.90	13d	1	1.40mi
228 E Oak Cliff Ct Unit A2 Peoria, IL	2.0	1.0	1000	$1,050	$1.05	13d	1	1.40mi
4020 N Bryer Pl Peoria, IL	2.0	1.0	720	$1,250	$1.74	21d	1	1.42mi
416 W Main St Unit A Peoria, IL	2.0	1.0	1050	$950	$0.90	43d	1	1.47mi

Listing history 22 events

1. 2026-06-09
   status $54,900 Pending 41 DOM
2. 2026-06-08
   days on market $54,900 Active 41 DOM
3. 2026-06-07
   days on market $54,900 Active 40 DOM
4. 2026-06-03
   days on market $54,900 Active 36 DOM
5. 2026-06-02
   days on market $54,900 Active 35 DOM
6. 2026-06-01
   days on market $54,900 Active 34 DOM
7. 2026-05-31
   days on market $54,900 Active 33 DOM
8. 2026-05-30
   days on market $54,900 Active 32 DOM
9. 2026-05-11
   price $64,900 574-char remark
10. 2026-04-27
    listed $69,900 Active 574-char remark
11. 2025-12-17
    historical
12. 2021-08-07
    historical
13. 2021-08-06
    historical
14. 2011-05-11
    soldstatus $65,000
15. 2011-02-16
    listed $67,500
16. 2007-08-16
    soldstatus $70,000
17. 2007-08-15
    soldstatus $70,000
18. 2007-04-17
    listed $71,500
19. 2007-01-19
    soldstatus $39,500
20. 2007-01-19
    listed $39,500
21. 2000-02-17
    soldstatus $39,000
22. 2000-02-17
    listed $39,000

ⓘ 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: $1,670 · $139/mo
• Projected year-2 tax: $1,670 · $139/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 · 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: $13,086
• − Mortgage interest: −$3,075
• − Property taxes: −$1,670
• − Insurance: −$274
• − Repairs & maintenance: −$1,047
• − Management: −$1,047
• − Depreciation: −$1,597
• Taxable income: $4,375
• Est. tax owed @ 24.0%: −$1,050
• After-tax cash flow: $3,889/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

+40.8% since first listed

16 events — show timeline

• 2026-06-09 Pending — RMLSA as Distributed by MLS Grid
• 2026-05-26 Price Changed $54,900 RMLSA as Distributed by MLS Grid
• 2026-05-11 Price Changed $64,900 RMLSA as Distributed by MLS Grid
• 2026-04-27 Listed $69,900 RMLSA as Distributed by MLS Grid
• 2025-12-17 Listing Removed — MRED as Distributed by MLS Grid
• 2021-08-07 Listing Removed — RMLSA as Distributed by MLS Grid
• 2021-08-06 Listing Removed — RMLSA as Distributed by MLS Grid
• 2011-05-11 Sold (MLS) $65,000 RMLSA as Distributed by MLS Grid
• 2011-02-16 Listed $67,500 RMLSA as Distributed by MLS Grid
• 2007-08-16 Sold (Public Records) $70,000 Public Records
• 2007-08-15 Sold (MLS) $70,000 RMLSA as Distributed by MLS Grid
• 2007-04-17 Listed $71,500 RMLSA as Distributed by MLS Grid
• 2007-01-19 Listed $39,500 RMLSA as Distributed by MLS Grid
• 2007-01-19 Sold (MLS) $39,500 RMLSA as Distributed by MLS Grid
• 2000-02-17 Listed $39,000 RMLSA as Distributed by MLS Grid
• 2000-02-17 Sold (MLS) $39,000 RMLSA as Distributed by MLS Grid

Property tax history

+1.8%/yr

Latest (2025): $1,670 · +9.5% YoY. Source: county tax records.