1607 N Bigelow St · Peoria, IL 61604

$80,000

4 bd · 2.0 ba · 1,536 sqft · MultiFamily public records · 117 Days on market

Built 1916 5,964 sqft lot $52/sqft · 50% above area

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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
• ARV discount +7.5/15.0
• Livability +3.7/5.0
• Rent growth +3.1/5.0
• Condition / age +2.5/5.0
• Schools +1.1/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

Beautiful first time owner occupied or investment property. great updates- painted, roof and much more.

Key facts

• 5,964 sq ft lot
• Built 1916
• Listed 116 days

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath multifamily listed at $80k.

Deal economics

• At list price, monthly cash flow is $507 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $80k).
• Recommended offer: $73k (9.0% below list) — sets the bar for market timing.
• Cap rate 13.9% 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: Rents rising (+2.3%/yr); 180 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 73 units permitted in Peoria County in 2024 (0 in 5+ unit buildings).
• This rent runs 30% of the median local income ($52k/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 $553 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 + 2.3% rent growth), your $22k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 117 days — a 9% lower offer ($73k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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 $26k; list at $80k implies a 208% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1916 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $72,800 (9.0% below list)

Questions for the listing agent

1. It's been on market 117 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1916 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.65% ✓
• Cap rate: 13.90%
• Cash-on-cash: 27.16%
• DSCR: 2.21
• GRM: 5.1

CMA / ARV

• ARV (median comp): $52,120
• List price: $80,000
• Delta: 53.49%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 2.3% rent growth · sell at horizon

5-year hold

• IRR: 20.4%
• Equity multiple: 1.82×
• Total profit: $18,417
• Equity at exit: $11,928

10-year hold

• IRR: 28.1%
• Equity multiple: 3.41×
• Total profit: $53,923
• Equity at exit: $6,917

Cash invested: $22,400 (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 61604

• Home prices YoY: -24.6%
• Rents YoY: 2.3%
• Active inventory: 180
• Price-to-rent: 5.1×

Monthly cashflow live

• Estimated rent: $1,320 high
• Mortgage (P&I): −$420
• Tax from tax record: −$83 /mo · $995/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$277
• Net cashflow: $507

Break-even live

Break-even rent $678

Max offer price $80,000

Occupancy floor 57%

Sensitivity live

Price	-10% $552	-5% $530	+0% $507	+5% $484	+10% $462
Rent	-10% $403	-5% $455	+0% $507	+5% $559	+10% $611
Rate	-1.0pp $547	-0.5pp $527	base $507	+0.5pp $486	+1.0pp $465

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: $20,000
• Closing costs: $2,400
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
501 W Columbia Ter Unit 3 Peoria, IL	3.0	1.0	1500	$1,400	$0.93	44d	1	0.31mi
1806 N Peoria Ave Peoria, IL	4.0	1.5	1668	$894	$0.54	14d	1	0.33mi
901 NE Glen Oak Ave Unit 2 Peoria, IL	3.0	1.0	1120	$1,200	$1.07	21d	1	0.56mi
308 E Archer Ave Peoria, IL	3.0	1.0	1444	$950	$0.66	14d	1	0.71mi
2023 N Underhill St Peoria, IL	3.0	1.0	1050	$1,200	$1.14	14d	1	0.86mi
814 W McClure Ave Peoria, IL	3.0	1.0	1148	$1,100	$0.96	44d	1	0.87mi
913 W McClure Ave Peoria, IL	3.0	1.0	1400	$1,200	$0.86	21d	1	0.93mi
1019 N Farmington Rd Unit 1017 Peoria, IL	3.0	1.0	1304	$1,600	$1.23	44d	1	1.35mi
100 Walnut St Unit 402 Peoria, IL	3.0	2.0	1464	$2,400	$1.64	21d	1	1.43mi
1723 W Fredonia Ave Peoria, IL	4.0	2.5	1219	$2,100	$1.72	14d	1	1.50mi

Listing history 21 events

1. 2026-06-19
   days on market $80,000 Active 117 DOM
2. 2026-06-18
   days on market $80,000 Active 116 DOM
3. 2026-06-17
   days on market $80,000 Active 115 DOM
4. 2026-06-16
   days on market $80,000 Active 114 DOM
5. 2026-06-15
   days on market $80,000 Active 113 DOM
6. 2026-06-14
   days on market $80,000 Active 111 DOM
7. 2026-06-13
   days on market $80,000 Active 110 DOM
8. 2026-06-10
   days on market $80,000 Active 108 DOM
9. 2026-06-09
   days on market $80,000 Active 107 DOM
10. 2026-06-08
    days on market $80,000 Active 106 DOM
11. 2026-06-07
    days on market $80,000 Active 105 DOM
12. 2026-06-03
    days on market $80,000 Active 101 DOM
13. 2026-06-02
    days on market $80,000 Active 100 DOM
14. 2026-06-01
    days on market $80,000 Active 99 DOM
15. 2026-05-31
    days on market $80,000 Active 98 DOM
16. 2026-05-30
    days on market $80,000 Active 97 DOM
17. 2026-02-22
    listed $80,000 Active 103-char remark

    Show marketing remark (103 chars)

    Beautiful first time owner occupied or investment property. great updates- painted, roof and much more.

18. 2025-12-17
    historical
19. 2025-10-11
    historical
20. 2025-01-30
    listed Active
21. 2024-08-20
    soldstatus $26,000

ⓘ 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: $995 · $83/mo
• Projected year-2 tax: $1,405 · $117/mo
• Expected delta: +$411/yr (+$34/mo · 41.3%)

ⓘ 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: $15,840
• − Mortgage interest: −$4,481
• − Property taxes: −$995
• − Insurance: −$400
• − Repairs & maintenance: −$1,267
• − Management: −$1,267
• − Depreciation: −$2,327
• Taxable income: $5,102
• Est. tax owed @ 24.0%: −$1,225
• After-tax cash flow: $4,860/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): 28,313
• Household income: $52,414
• Rent vs Own: 32.0% rent · 68.0% own
• Severe rent burden: 815.0

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: White 55% Black 29% Two or more races 10% Hispanic / Latino 7% Asian 2%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Italian 2% Slovak 1% Iranian 1%
• Foreign-born: 6% · Canada, China
• Languages at home: 92% English-only · Spanish 4% Chinese 1% French/Haitian/Cajun 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: ▼ -54.15%
• Current HPI: 165.8838
• Rent YoY: ▲ 2.30%
• 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

+207.7% since first listed

5 events — show timeline

• 2026-02-22 Listed $80,000 RMLSA as Distributed by MLS Grid
• 2025-12-17 Listing Removed — MRED as Distributed by MLS Grid
• 2025-10-11 Listing Removed — RMLSA as Distributed by MLS Grid
• 2025-01-30 Listed — RMLSA as Distributed by MLS Grid
• 2024-08-20 Sold (Public Records) $26,000 Public Records

Property tax history

-4.9%/yr

Latest (2024): $995 · -32.2% YoY. Source: county tax records.