2308 W Overbrook Dr · Peoria, IL 61604

$75,000

2 bd · 1.0 ba · 780 sqft · SingleFamily public records · 46 Days on market

Built 1954 $96/sqft · 21% below area Est $95k · 21% 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 +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +9.3/10.0
• 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

Listing remarks

Renter occupied home is for sale. Home is rented for 883 per month which is over 10k per year in passive income. Home is 2 bed 1 bath ranch with attached garage, vinyl windows and great floor plan. Home needs 48 hours or possibly more flexibility for showing notice to give respect to current tenants.

Key facts

• Garage
• Built 1954
• Listed 45 days

Property features AI

Finance

• HOA & community: No association fees

Exterior

• Parking: Attached 1-car garage
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Built in 1954
• Construction: Shingle roof
• Exterior features: Level lot; Lot dimensions approximately 112 x 69 x 130 x 80

Interior

• Kitchen: Kitchen on main level
• Bedrooms: 2 bedrooms (both on main level)
• Flooring: Carpet in bedrooms, living room and kitchen
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Full basement; No fireplaces

🏷️ Possibly a rental listed for sale. The $75,000 price doesn't fit this home's estimated sale value (~$95,439) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $75k.

Deal economics

• At list price, monthly cash flow is $287 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $75k).
• Recommended offer: $73k (3.0% below list) — sets the bar for market timing.
• Cap rate 10.9% 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+, 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 (+2.3%/yr); 180 active listings in the ZIP; 21 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); 73 units permitted in Peoria County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $519 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 $21k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 46 days — a 3% lower offer ($73k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 2y 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 $40k; list at $75k implies a 88% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1954 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $72,750 (3.0% below list)

Questions for the listing agent

1. It's been on market 46 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 1954 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 1.43% ✓
• Cap rate: 10.89%
• Cash-on-cash: 16.40%
• DSCR: 1.73
• GRM: 5.8

CMA / ARV

• ARV (median comp): $95,439
• List price: $75,000
• Delta: -21.42%
• 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
2212 W Dennis Ct	0.14mi	2/1.0	864 (+11%)	0mo	$47,000	$54	75
2318 W Albany Ave	0.39mi	2/1.0	775 (-1%)	7mo	$37,500	$48	75
2909 N Victoria Ave	0.12mi	2/1.0	672 (-14%)	1mo	$125,000	$186	71
3341 N Leroy Ave	0.51mi	2/1.0	768 (-2%)	6mo	$49,000	$64	69
2315 W Hudson St	0.36mi	3/2.0 (+1)	791 (+1%)	6mo	$87,900	$111	67
2050 W Wilson Ave	0.60mi	2/1.5	752 (-4%)	8mo	$84,900	$113	57
2046 W Wilson Ave	0.60mi	2/1.0	739 (-5%)	9mo	$65,000	$88	56
2029 W Forrest Hill Ave	0.34mi	2/1.0	672 (-14%)	7mo	$60,000	$89	55
2221 W Tripp Ave	0.48mi	1/1.0 (-1)	704 (-10%)	6mo	$61,000	$87	51
3119 N Western Ave	0.48mi	2/1.0	663 (-15%)	3mo	$49,000	$74	50
3302 N Gale Ave	0.50mi	1/1.0 (-1)	680 (-13%)	4mo	$54,500	$80	47
3444 N Gale Ave	0.64mi	3/1.0 (+1)	720 (-8%)	8mo	$78,000	$108	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 · 2.3% rent growth · sell at horizon

5-year hold

• IRR: 6.7%
• Equity multiple: 1.26×
• Total profit: $5,422
• Equity at exit: $11,183

10-year hold

• IRR: 15.4%
• Equity multiple: 2.21×
• Total profit: $25,398
• Equity at exit: $6,485

Cash invested: $21,000 (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: 5.8×

Monthly cashflow live

• Estimated rent: $1,074 high
• Mortgage (P&I): −$393
• Tax from tax record: −$137 /mo · $1,644/yr
• Insurance: −$31
• HOA: −$0
• Vacancy / Maint / Mgmt: −$226
• Net cashflow: $287

Break-even live

Break-even rent $711

Max offer price $75,000

Occupancy floor 68%

Sensitivity live

Price	-10% $330	-5% $308	+0% $287	+5% $266	+10% $245
Rent	-10% $202	-5% $245	+0% $287	+5% $329	+10% $372
Rate	-1.0pp $325	-0.5pp $306	base $287	+0.5pp $268	+1.0pp $248

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: $18,750
• Closing costs: $2,250
• Reserves months: —
• Total cash needed: —

Rent comps 21 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2610 N Renwood Ave Peoria, IL	2.0	1.0	904	$1,300	$1.44	14d	1	0.13mi
2920 N Rockwood Dr Apt B Peoria, IL	2.0	1.0	800	$895	$1.12	14d	1	0.26mi
2511 W Wardcliffe Dr Unit H Peoria, IL	2.0	1.0	800	$875	$1.09	45d	1	0.27mi
2700 W Forrest Hill Ave Peoria, IL	2.0	1.0	850	$850	$1.00	45d	1	0.43mi
3629 N Leroy Ave Unit A Peoria, IL	2.0	1.0	1000	$1,150	$1.15	45d	1	0.76mi
1801 N Gentry Ln West Peoria, IL	3.0	1.0	1000	$1,650	$1.65	14d	1	0.89mi
3601 N Kingston Dr Peoria, IL	2.0	2.0	1030	$1,420	$1.38	14d	3	0.96mi
2600 N Lavalle Ct Peoria, IL	1.0–3.0	1.0–2.0	803	$1,000	$1.25	14d	26	1.05mi
3108 N Parish Ave Peoria, IL	3.0	1.5	967	$1,750	$1.81	45d	1	1.08mi
2023 N Underhill St Peoria, IL	3.0	1.0	1050	$1,200	$1.14	14d	1	1.08mi
2109 N Abbey Cir Peoria, IL	3.0	2.0	1088	$1,009	$0.93	14d	1	1.09mi
2214 N Linsley St Peoria, IL	2.0	1.0	575	$550	$0.96	45d	1	1.10mi
3444 W Dorchester Rdg Peoria, IL	2.0	2.0	1089	$1,275	$1.17	14d	1	1.12mi
3438 W Villa Rdg Unit A Peoria, IL	2.0	1.5	874	$1,200	$1.37	22d	1	1.16mi
4010 N Brandywine Dr Peoria, IL	1.0–2.0	1.0–2.0	797	$1,082	$1.36	14d	17	1.18mi
2805 W Larchmont Ln Peoria, IL	1.0–2.0	1.0	695	$1,060	$1.53	14d	3	1.18mi
905 W Thrush Ave Peoria, IL	2.0	1.0	750	$950	$1.27	22d	1	1.22mi
903 W Brons Ave Peoria, IL	3.0	1.0	971	$995	$1.02	45d	1	1.25mi
812 W Macqueen Ave Peoria, IL	2.0	1.0	822	$795	$0.97	45d	1	1.26mi
1703 N Valley Ave Peoria, IL	2.0	1.0	676	$1,200	$1.78	14d	1	1.28mi
2207 N Ellis St Peoria, IL	2.0	1.0	864	$999	$1.16	14d	1	1.46mi

Listing history 23 events

1. 2026-06-19
   days on market $75,000 Active 46 DOM
2. 2026-06-18
   days on market $75,000 Active 45 DOM
3. 2026-06-17
   days on market $75,000 Active 44 DOM
4. 2026-06-16
   days on market $75,000 Active 43 DOM
5. 2026-06-15
   days on market $75,000 Active 42 DOM
6. 2026-06-14
   days on market $75,000 Active 40 DOM
7. 2026-06-13
   days on market $75,000 Active 39 DOM
8. 2026-06-10
   days on market $75,000 Active 37 DOM
9. 2026-06-09
   days on market $75,000 Active 36 DOM
10. 2026-06-08
    days on market $75,000 Active 35 DOM
11. 2026-06-07
    days on market $75,000 Active 34 DOM
12. 2026-06-03
    days on market $75,000 Active 30 DOM
13. 2026-06-02
    days on market $75,000 Active 29 DOM
14. 2026-06-01
    days on market $75,000 Active 28 DOM
15. 2026-05-31
    days on market $75,000 Active 27 DOM
16. 2026-05-30
    days on market $75,000 Active 26 DOM
17. 2026-05-04
    listed $75,000 Active 301-char remark
18. 2025-02-02
    historical $950
19. 2024-11-19
    price $950
20. 2024-10-16
    listed $1,000
21. 2024-08-21
    historical
22. 2024-05-20
    listed Active
23. 2006-11-02
    soldstatus $40,000

ⓘ 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: $1,644 · $137/mo
• Projected year-2 tax: $1,673 · $139/mo
• Expected delta: +$29/yr (+$2/mo · 1.8%)

ⓘ 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: $12,890
• − Mortgage interest: −$4,201
• − Property taxes: −$1,644
• − Insurance: −$375
• − Repairs & maintenance: −$1,031
• − Management: −$1,031
• − Depreciation: −$2,182
• Taxable income: $2,426
• Est. tax owed @ 24.0%: −$582
• After-tax cash flow: $2,863/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

+87.5% since first listed

7 events — show timeline

• 2026-05-04 Listed $75,000 RMLSA as Distributed by MLS Grid
• 2025-02-02 Rental Removed $950 APPFOLIO
• 2024-11-19 Price Changed $950 APPFOLIO
• 2024-10-16 Listed for Rent $1,000 APPFOLIO
• 2024-08-21 Listing Removed — RMLSA as Distributed by MLS Grid
• 2024-05-20 Listed — RMLSA as Distributed by MLS Grid
• 2006-11-02 Sold (Public Records) $40,000 Public Records

Property tax history

+5.6%/yr

Latest (2025): $1,644 · +6.5% YoY. Source: county tax records.