3112 W Latrobe St · Peoria, IL 61605

$65,900

1 bd · 1.0 ba · 528 sqft · SingleFamily public records · 37 Days on market

Built 1940

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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
• DSCR +10.0/10.0
• 1% rule +8.1/10.0
• ARV discount +7.5/15.0
• Appreciation +5.3/10.0
• Livability +3.7/5.0
• Schools +2.9/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Always dreamed of owning your own home? This is your chance! Seller-financed with no credit checks! ?? $69,000 Total ?? $2,500 down ?? $725/month ??Features?? TURNKEY - fridge, stove/oven, washer, dryer all ready in the property! Electric is on and working! Concrete Slab foundation - NO BASEMENT! NEW carpet Electric - Circuit Breaker Solid Roof Good Location: County side of Laramie MOVE IN READY 1bed/1bath ready to make your own! Concrete slab foundation - NO basement! New carpet and needs a little TLC but this is how we keep the price low for you! This home gives you the chance to create a space that fits your lifestyle while investing in your future.

Key facts

• Good location
• Solid roof
• Built 1940

Tags

• CONCRETE SLAB FOUNDATION
• SOLID ROOF
• GOOD LOCATION

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath single-family listed at $66k.

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 ($861 rent vs $66k).
• Recommended offer: $64k (3.0% below list) — sets the bar for market timing.
• Cap rate 11.5% vs local median 5.5% 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.
• Limestone Chsd 310 (rural): math 25% / reading 35% proficiency, ranked #486 of 919 in IL (top 53%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Pleasant Hill Elem School (math 8% / reading 12%, grade F, #1,517 of 2,056 statewide, top 78%, 174 students, 0% FRL); Limestone Community High School (math 17% / reading 22%, grade F, #397 of 693 statewide, top 61%, 924 students, 0% FRL).
• Zoned-school proficiency averages 15% at this address vs 30% district-wide (-15 pts) — the specific schools serving this property underperform the Limestone Chsd 310 average; the district grade overstates school quality for this exact location.
• Market conditions: 44 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 73 units permitted in Peoria County in 2024 (0 in 5+ unit buildings).
• This rent runs 39% of the median local income ($26k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $873 of equity ($456 loan paydown + $417 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 $18k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 37 days — a 3% lower offer ($64k) 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.

Risks & watch-outs

• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $63,923 (3.0% below list)

Questions for the listing agent

1. It's been on market 37 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 1940 — 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: 1.31% ✓
• Cap rate: 11.52%
• Cash-on-cash: 18.68%
• DSCR: 1.83
• GRM: 6.4

CMA / ARV

• ARV (on-the-fly): $18,480
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3203 W Latrobe St	0.08mi	2/1.0 (+1)	576 (+9%)	16mo	$20,000	$35	63
1516 S Westmoreland Ave	0.75mi	1/1.0	504 (-4%)	2mo	$12,000	$24	56
2909 W Wyoming St	0.74mi	2/1.0 (+1)	572 (+8%)	16mo	$19,850	$35	34

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: 19.8%
• Equity multiple: 1.99×
• Total profit: $18,322
• Equity at exit: $21,247

10-year hold

• IRR: 23.3%
• Equity multiple: 3.73×
• Total profit: $50,353
• Equity at exit: $27,292

Cash invested: $18,452 (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: 44
• Price-to-rent: 6.4×

Monthly cashflow live

• Estimated rent: $861 high
• Mortgage (P&I): −$346
• Tax from tax record: −$20 /mo · $241/yr
• Insurance: −$27
• HOA: −$0
• Vacancy / Maint / Mgmt: −$181
• Net cashflow: $287

Break-even live

Break-even rent $498

Max offer price $65,900

Occupancy floor 62%

Sensitivity live

Price	-10% $324	-5% $306	+0% $287	+5% $269	+10% $250
Rent	-10% $219	-5% $253	+0% $287	+5% $321	+10% $355
Rate	-1.0pp $320	-0.5pp $304	base $287	+0.5pp $270	+1.0pp $253

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: $16,475
• Closing costs: $1,977
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2822 W Antoinette St Peoria, IL	2.0	1.0	720	$1,149	$1.60	23d	1	0.41mi
2807 W Nevada St Peoria, IL	1.0	1.0	540	$629	$1.16	23d	1	0.82mi
2317 W Martin Luther King Junior Dr Peoria, IL	1.0–2.0	1.0	697	$775	$1.11	15d	3	1.08mi
2317 W Martin Luther King Junior Dr Unit 1-106 Peoria, IL	1.0	1.0	588	$775	$1.32	46d	1	1.08mi
945 S Shelley St Peoria, IL	1.0–3.0	1.0–2.0	929	$795	$0.86	15d	1	1.40mi

Listing history 22 events

1. 2026-06-23
   days on market $65,900 Active 37 DOM
2. 2026-06-21
   days on market $65,900 Active 36 DOM
3. 2026-06-19
   days on market $65,900 Active 34 DOM
4. 2026-06-18
   days on market $65,900 Active 33 DOM
5. 2026-06-17
   days on market $65,900 Active 32 DOM
6. 2026-06-16
   pricedays on market $65,900 Active 31 DOM
7. 2026-06-15
   days on market $69,000 Active 30 DOM
8. 2026-06-14
   days on market $69,000 Active 28 DOM
9. 2026-06-13
   days on market $69,000 Active 27 DOM
10. 2026-06-10
    days on market $69,000 Active 25 DOM
11. 2026-06-09
    days on market $69,000 Active 24 DOM
12. 2026-06-08
    days on market $69,000 Active 23 DOM
13. 2026-06-07
    days on market $69,000 Active 22 DOM
14. 2026-06-03
    days on market $69,000 Active 18 DOM
15. 2026-06-02
    days on market $69,000 Active 17 DOM
16. 2026-06-01
    days on market $69,000 Active 16 DOM
17. 2026-05-31
    days on market $69,000 Active 15 DOM
18. 2026-05-30
    days on market $69,000 Active 14 DOM
19. 2026-05-22
    price $695
20. 2026-05-16
    listed $69,000 Active
21. 2026-05-08
    listed $725
22. 2021-08-06
    historical

ⓘ 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: $241 · $20/mo
• Projected year-2 tax: $868 · $72/mo
• Expected delta: +$628/yr (+$52/mo · 260.9%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X · 22% 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: $10,333
• − Mortgage interest: −$3,691
• − Property taxes: −$241
• − Insurance: −$330
• − Repairs & maintenance: −$827
• − Management: −$827
• − Depreciation: −$1,917
• Taxable income: $2,501
• Est. tax owed @ 24.0%: −$600
• After-tax cash flow: $2,846/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: Limestone Chsd 310
• NCES district ID: 1722950
• Math proficiency: 25% ▲ 5.00%
• Reading proficiency: 35% ▲ 4.00%
• Median HH income: $49,759
• Composite: 28.99/100
• National rank: #11932
• State rank: #486 of 919 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

• 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

4 events — show timeline

• 2026-05-22 Price Changed $695 TURBOTENANT
• 2026-05-16 Listed $69,000 FSBO.com
• 2026-05-08 Listed for Rent $725 TURBOTENANT
• 2021-08-06 Listing Removed — RMLSA as Distributed by MLS Grid

Property tax history

-8.0%/yr

Latest (2024): $241 · -2.6% YoY. Source: county tax records.