1014 W Hurlburt St · Peoria, IL 61605

$20,000

3 bd · 1.5 ba · 1,552 sqft · SingleFamily public records · 73 Days on market

Built 1900

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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 +15.0/30.0
• ARV discount +7.5/15.0
• Appreciation +5.3/10.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.1/10.0

Listing remarks

1014 W Hurlburt St, Peoria, IL 61605 Spacious 4-bedroom, 2-bath property offering strong potential for both homeowners and investors. 1552 square feet + basement + . 17 acres! The home features a generous living space and is in need of some TLC, making it an excellent value-add opportunity. Situated on a lot with a deep backyard and an additional side lot, the property also includes alley access with a driveway for convenient off-street parking. The basement is large and well-suited for additional storage. Electricity is currently on and functioning. With new construction and redevelopment taking place in the surrounding area, this property presents a great opportunity to purchase at a ve

Key facts

• Additional side lot
• Alley access
• Strong potential

Tags

• DEEP BACKYARD
• ADDITIONAL SIDE LOT
• ALLEY ACCESS
• LARGE BASEMENT
• STRONG POTENTIAL
• VALUE ADD OPPORTUNITY

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $20k.

Deal economics

• At list price, monthly cash flow is $901 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $20k).
• Recommended offer: $19k (6.0% below list) — sets the bar for market timing.
• Cap rate 60.3% 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: 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: 42 active listings in the ZIP; 20 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% 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).
• At $1,356/mo this rent would consume 62% of the median local household income ($26k/yr) (locally 1385% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $265 of equity ($138 loan paydown + $127 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 $6k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 73 days — a 6% lower offer ($19k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $16k; 25% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: property tax is 3.5% of price; built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $18,800 (6.0% below list)

Questions for the listing agent

1. It's been on market 73 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1900 — 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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?
9. 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.
10. 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.
11. 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: 6.78% ✓
• Cap rate: 60.33%
• Cash-on-cash: 192.99%
• DSCR: 9.59
• GRM: 1.2

CMA / ARV

• ARV (on-the-fly): $80,704
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1302 W Butler St	0.33mi	3/1.5	1,596 (+3%)	8mo	$27,000	$17	73
1009 W Smith St	0.05mi	2/1.0 (-1)	1,408 (-9%)	12mo	$48,500	$34	65
1214 W Butler St	0.32mi	3/1.0	1,440 (-7%)	7mo	$22,500	$16	65
201 N Charlton St	0.18mi	3/1.5	1,706 (+10%)	18mo	$90,000	$53	60
1802 Butler St	0.62mi	3/1.0	1,611 (+4%)	6mo	$17,000	$11	57
1812 W Sherman Ave	0.67mi	3/2.0	1,584 (+2%)	10mo	$110,500	$70	55
900 S Warren St	0.73mi	2/2.0 (-1)	1,552 (0%)	6mo	$53,000	$34	54
1713 W Barker Ave	0.73mi	3/2.0	1,452 (-6%)	1mo	$75,000	$52	53
725 W Spring Hollow Ln	0.54mi	3/2.0	1,714 (+10%)	4mo	$169,500	$99	52
1705 W Sherman Ave	0.60mi	3/2.0	1,520 (-2%)	22mo	$162,000	$107	48
1816 W Callender Ave	0.73mi	3/2.0	1,628 (+5%)	11mo	$80,000	$49	47
404 N Glenwood Ave	0.53mi	3/1.0	1,448 (-7%)	24mo	$113,000	$78	42

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: —
• Equity multiple: 11.25×
• Total profit: $57,420
• Equity at exit: $6,448

10-year hold

• IRR: —
• Equity multiple: 23.74×
• Total profit: $127,352
• Equity at exit: $8,283

Cash invested: $5,600 (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: 1.2×

Monthly cashflow live

• Estimated rent: $1,356 high
• Mortgage (P&I): −$105
• Tax from tax record: −$58 /mo · $693/yr
• Insurance: −$8
• HOA: −$0
• Vacancy / Maint / Mgmt: −$285
• Net cashflow: $901

Break-even live

Break-even rent $216

Max offer price $20,000

Occupancy floor 29%

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: $5,000
• Closing costs: $600
• Reserves months: —
• Total cash needed: —

Rent comps 20 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1401 W Adrian G Hinton Ave Peoria, IL	2.0	1.0	1100	$775	$0.70	43d	1	0.27mi
1214 W Butler St Peoria, IL	4.0	1.0	1440	$795	$0.55	43d	1	0.33mi
214 Pecan St Peoria, IL	2.0	1.0	1050	$1,595	$1.52	13d	1	0.52mi
818 W Moss Ave Peoria, IL	2.0	2.0	1580	$1,800	$1.14	13d	1	0.61mi
1816 W Callender Ave Peoria, IL	3.0	2.0	1628	$1,650	$1.01	43d	1	0.74mi
945 S Shelley St Peoria, IL	1.0–3.0	1.0–2.0	929	$1,025	$1.10	13d	1	0.77mi
1723 W Fredonia Ave Peoria, IL	4.0	2.5	1219	$2,100	$1.72	13d	1	0.79mi
102 N Cedar Ave West Peoria, IL	4.0	1.0	1272	$995	$0.78	43d	1	0.80mi
928 S Matthew St Peoria, IL	2.0	1.0	1080	$748	$0.69	13d	1	0.84mi
100 Walnut St Unit 402 Peoria, IL	3.0	2.0	1464	$2,400	$1.64	21d	1	0.86mi
100 Walnut St Peoria, IL	2.0	2.0	1102	$2,000	$1.81	13d	1	0.86mi
416 W Main St Unit A Peoria, IL	2.0	1.0	1050	$950	$0.90	43d	1	0.95mi
123 SW Jefferson Ave Unit E16 NE Peoria, IL	2.0	2.0	1199	$2,250	$1.88	21d	1	1.00mi
123 SW Jefferson Ave Unit E15SW Peoria, IL	2.0	2.0	1100	$1,750	$1.59	13d	1	1.00mi
1019 N Farmington Rd Unit 1017 Peoria, IL	3.0	1.0	1304	$1,600	$1.23	43d	1	1.05mi
501 W Columbia Ter Unit 3 Peoria, IL	3.0	1.0	1500	$1,400	$0.93	43d	1	1.17mi
2320 W Garden St Peoria, IL	2.0	1.0	1096	$1,000	$0.91	43d	1	1.35mi
2807 W Howett St Peoria, IL	3.0	2.0	1388	$1,550	$1.12	43d	1	1.36mi
2847 W Howett St Peoria, IL	3.0	2.0	2000	$1,150	$0.57	43d	1	1.36mi
2601 W Kenwood Ave West Peoria, IL	3.0	1.5	1405	$1,500	$1.07	13d	1	1.42mi

Listing history 17 events

1. 2026-06-19
   days on market $20,000 Active 73 DOM
2. 2026-06-18
   days on market $20,000 Active 72 DOM
3. 2026-06-17
   days on market $20,000 Active 71 DOM
4. 2026-06-16
   days on market $20,000 Active 70 DOM
5. 2026-06-15
   days on market $20,000 Active 69 DOM
6. 2026-06-14
   days on market $20,000 Active 67 DOM
7. 2026-06-13
   days on market $20,000 Active 66 DOM
8. 2026-06-10
   days on market $20,000 Active 64 DOM
9. 2026-06-09
   days on market $20,000 Active 63 DOM
10. 2026-06-08
    days on market $20,000 Active 62 DOM
11. 2026-06-07
    statusdays on market $20,000 Active 61 DOM
12. 2026-03-28
    status Pending
13. 2026-01-30
    listed $20,000 Active
14. 2022-03-31
    historical
15. 2021-08-06
    historical
16. 2021-08-06
    historical
17. 2018-10-05
    soldstatus $16,000

ⓘ 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: $693 · $58/mo
• Projected year-2 tax: $693 · $58/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: $16,277
• − Mortgage interest: −$1,120
• − Property taxes: −$693
• − Insurance: −$100
• − Repairs & maintenance: −$1,302
• − Management: −$1,302
• − Depreciation: −$582
• Taxable income: $11,178
• Est. tax owed @ 24.0%: −$2,683
• After-tax cash flow: $8,125/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

+25.0% since first listed

6 events — show timeline

• 2026-03-28 Pending — RMLSA as Distributed by MLS Grid
• 2026-01-30 Listed $20,000 RMLSA as Distributed by MLS Grid
• 2022-03-31 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
• 2018-10-05 Sold (Public Records) $16,000 Public Records

Property tax history

+1.4%/yr

Latest (2024): $693 · +4.8% YoY. Source: county tax records.