1816 N Underhill St · Peoria, IL 61604

$35,000

3 bd · 1.0 ba · 1,108 sqft · SingleFamily public records · 221 Days on market

Built 1900 9,147 sqft lot $32/sqft · 21% below area Est $44k · 20% under ↓ 38% since listing

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• 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 MLS

RARE 30-PROPERTY PORTFOLIO! Instantly scale your real estate holdings with this incredible 30-property package. This portfolio is a prime value-add opportunity with massive upward income potential. Current rented properties provide income while you rehab the others.  Don’t miss out on this amazing opportunity.

Key facts

• 9,147 sq ft lot
• Built 1900
• Listed 221 days

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $35k.

Deal economics

• At list price, monthly cash flow is $673 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $35k).
• Recommended offer: $31k (12.0% below list) — sets the bar for market timing.
• Cap rate 29.4% 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; 26 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; 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 $242 of loan paydown is wiped out by about $1k 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 $10k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 221 days — a 12% lower offer ($31k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 24y ago; this cycle's ask has dropped $5k (12%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $30,800 (12.0% below list)

Questions for the listing agent

1. It's been on market 221 days. Have you received any prior offers? Is the seller open to a 12% 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. 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 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: 3.36% ✓
• Cap rate: 29.36%
• Cash-on-cash: 82.40%
• DSCR: 4.67
• GRM: 2.5

CMA / ARV

• ARV (median comp): $43,879
• List price: $35,000
• Delta: -20.23%
• 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
1708 N Machin Ave	0.20mi	3/1.0	1,075 (-3%)	3mo	$60,650	$56	84
1325 N Broadway St	0.46mi	3/1.0	1,080 (-2%)	3mo	$11,000	$10	72
2211 N Ellis St	0.57mi	3/1.0	1,127 (+2%)	1mo	$33,000	$29	70
1710 N Machin Ave	0.19mi	2/1.0 (-1)	1,266 (+14%)	2mo	$30,000	$24	60
823 W Nowland Ave	0.50mi	3/2.0	1,200 (+8%)	3mo	$86,500	$72	57
1312 N Ellis St	0.67mi	2/2.0 (-1)	1,113 (+0%)	3mo	$27,000	$24	57
1022 W Thrush Ave	0.35mi	3/1.0	946 (-15%)	3mo	$72,000	$76	56
1126 Thrush Ave	0.33mi	2/1.0 (-1)	952 (-14%)	1mo	$62,500	$66	55
1815 N Sheridan Rd	0.40mi	3/1.0	1,268 (+14%)	3mo	$73,500	$58	54
2312 N Ellis St	0.65mi	3/1.0	1,258 (+14%)	3mo	$44,000	$35	45
2208 N Ellis St	0.59mi	3/2.0	1,261 (+14%)	3mo	$44,000	$35	44
1417 W Mcclure Ave	0.59mi	2/1.0 (-1)	947 (-14%)	3mo	$119,075	$126	41

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: 81.9%
• Equity multiple: 4.71×
• Total profit: $36,391
• Equity at exit: $5,219

10-year hold

• IRR: 85.1%
• Equity multiple: 9.54×
• Total profit: $83,655
• Equity at exit: $3,026

Cash invested: $9,800 (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: 2.5×

Monthly cashflow live

• Estimated rent: $1,175 high
• Mortgage (P&I): −$184
• Tax from tax record: −$58 /mo · $691/yr
• Insurance: −$15
• HOA: −$0
• Vacancy / Maint / Mgmt: −$247
• Net cashflow: $673

Break-even live

Break-even rent $324

Max offer price $35,000

Occupancy floor 38%

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: $8,750
• Closing costs: $1,050
• Reserves months: —
• Total cash needed: —

Rent comps 26 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2023 N Underhill St Peoria, IL	3.0	1.0	1050	$1,200	$1.14	13d	1	0.18mi
903 W Brons Ave Peoria, IL	3.0	1.0	971	$995	$1.02	43d	1	0.40mi
905 W Thrush Ave Peoria, IL	2.0	1.0	750	$950	$1.27	20d	1	0.45mi
812 W Macqueen Ave Peoria, IL	2.0	1.0	822	$795	$0.97	43d	1	0.57mi
2207 N Ellis St Peoria, IL	2.0	1.0	864	$999	$1.16	13d	1	0.59mi
913 W McClure Ave Peoria, IL	3.0	1.0	1400	$1,200	$0.86	20d	1	0.60mi
814 W McClure Ave Peoria, IL	3.0	1.0	1148	$1,100	$0.96	43d	1	0.62mi
501 W Columbia Ter Unit 3 Peoria, IL	3.0	1.0	1500	$1,400	$0.93	43d	1	0.75mi
1019 N Farmington Rd Unit 1017 Peoria, IL	3.0	1.0	1304	$1,600	$1.23	43d	1	0.81mi
1413 W Gilbert Ave Peoria, IL	2.0	2.0	1428	$1,500	$1.05	13d	1	0.88mi
911 N Sheridan Rd Unit a1 Peoria, IL	2.0	1.0	825	$850	$1.03	13d	1	0.90mi
911 N Sheridan Rd Unit A4 Peoria, IL	2.0	1.0	825	$850	$1.03	43d	1	0.90mi
416 W Main St Unit A Peoria, IL	2.0	1.0	1050	$950	$0.90	43d	1	0.96mi
2210 Knoxville Ave #2212 Peoria, IL	2.0	1.0	1284	$950	$0.74	43d	1	1.03mi
3108 N Parish Ave Peoria, IL	3.0	1.5	967	$1,750	$1.81	43d	1	1.07mi
1723 W Fredonia Ave Peoria, IL	4.0	2.5	1219	$2,100	$1.72	13d	1	1.10mi
2610 N Renwood Ave Peoria, IL	2.0	1.0	904	$1,300	$1.44	13d	1	1.18mi
308 E Archer Ave Peoria, IL	3.0	1.0	1444	$950	$0.66	13d	1	1.20mi
1801 N Gentry Ln West Peoria, IL	3.0	1.0	1000	$1,650	$1.65	13d	1	1.31mi
505 E Virginia Ave Peoria, IL	2.0	2.0	1204	$758	$0.63	13d	1	1.37mi
901 NE Glen Oak Ave Unit 2 Peoria, IL	3.0	1.0	1120	$1,200	$1.07	20d	1	1.37mi
1220 W John H Gwynn Jr Ave Peoria, IL	2.0	1.0	853	$745	$0.87	20d	1	1.37mi
1401 W Adrian G Hinton Ave Peoria, IL	2.0	1.0	1100	$775	$0.70	43d	1	1.43mi
2920 N Rockwood Dr Apt B Peoria, IL	2.0	1.0	800	$895	$1.12	13d	1	1.43mi
2511 W Wardcliffe Dr Unit H Peoria, IL	2.0	1.0	800	$875	$1.09	43d	1	1.44mi
2601 W Kenwood Ave West Peoria, IL	3.0	1.5	1405	$1,500	$1.07	13d	1	1.48mi

Listing history 23 events

1. 2026-06-15
   days on market $35,000 Active 221 DOM
2. 2026-06-14
   days on market $35,000 Active 219 DOM
3. 2026-06-13
   days on market $35,000 Active 218 DOM
4. 2026-06-10
   days on market $35,000 Active 216 DOM
5. 2026-06-09
   days on market $35,000 Active 215 DOM
6. 2026-06-08
   days on market $35,000 Active 214 DOM
7. 2026-06-07
   days on market $35,000 Active 213 DOM
8. 2026-06-03
   days on market $35,000 Active 209 DOM
9. 2026-06-02
   days on market $35,000 Active 208 DOM
10. 2026-06-01
    days on market $35,000 Active 207 DOM
11. 2026-05-31
    days on market $35,000 Active 206 DOM
12. 2026-05-30
    days on market $35,000 Active 205 DOM
13. 2026-03-23
    price $35,000 327-char remark

    Show marketing remark (327 chars)

    RARE 30-PROPERTY PORTFOLIO! Instantly scale your real estate holdings with this incredible 30-property package. This portfolio is a prime value-add opportunity with massive upward income potential. Current rented properties provide income while you rehab the others.  Don’t miss out on this amazing opportunity.

14. 2025-11-06
    listed $40,000 Active 327-char remark

    Show marketing remark (327 chars)

    RARE 30-PROPERTY PORTFOLIO! Instantly scale your real estate holdings with this incredible 30-property package. This portfolio is a prime value-add opportunity with massive upward income potential. Current rented properties provide income while you rehab the others.  Don’t miss out on this amazing opportunity.

15. 2021-08-06
    historical
16. 2021-08-06
    historical
17. 2021-08-06
    historical
18. 2010-04-06
    soldstatus $152,000
19. 2006-09-29
    soldstatus $28,000
20. 2006-05-05
    listed $35,500
21. 2002-10-28
    soldstatus $16,000
22. 2002-05-07
    listed $19,900
23. 1999-03-16
    soldstatus $56,000

ⓘ 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: $691 · $58/mo
• Projected year-2 tax: $743 · $62/mo
• Expected delta: +$52/yr (+$4/mo · 7.5%)

ⓘ 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 · 17 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: $14,106
• − Mortgage interest: −$1,961
• − Property taxes: −$691
• − Insurance: −$175
• − Repairs & maintenance: −$1,128
• − Management: −$1,128
• − Depreciation: −$1,018
• Taxable income: $8,004
• Est. tax owed @ 24.0%: −$1,921
• After-tax cash flow: $6,154/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

-37.5% since first listed

11 events — show timeline

• 2026-03-23 Price Changed $35,000 RMLSA as Distributed by MLS Grid
• 2025-11-06 Listed $40,000 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
• 2021-08-06 Listing Removed — RMLSA as Distributed by MLS Grid
• 2010-04-06 Sold (Public Records) $152,000 Public Records
• 2006-09-29 Sold (MLS) $28,000 RMLSA as Distributed by MLS Grid
• 2006-05-05 Listed $35,500 RMLSA as Distributed by MLS Grid
• 2002-10-28 Sold (MLS) $16,000 RMLSA as Distributed by MLS Grid
• 2002-05-07 Listed $19,900 RMLSA as Distributed by MLS Grid
• 1999-03-16 Sold (Public Records) $56,000 Public Records

Property tax history

+0.9%/yr

Latest (2024): $691 · +4.8% YoY. Source: county tax records.