129 N Cedar Ave · West Peoria, IL 61604

$48,000

1 bd · 1.0 ba · 540 sqft · SingleFamily public records · 189 Days on market

Built 1930 2,640 sqft lot $89/sqft · 88% 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 +3.8/5.0
• 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

Duplex with two 1 bed/1 bath units—one occupied, one vacant. A great addition to your rental portfolio.

Key facts

• 2,640 sq ft lot
• Built 1930
• Listed 188 days

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath single-family listed at $48k.

Deal economics

• At list price, monthly cash flow is $334 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($851 rent vs $48k).
• Recommended offer: $42k (12.0% below list) — sets the bar for market timing.
• Cap rate 14.6% vs local median 6.2% in West 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 76/100 on livability (#181 in IL, #3,474 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, commute A-; Watch: schools F, amenities 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; 6 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $332 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 $13k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 189 days — a 12% lower offer ($42k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 17y ago; this cycle's ask has dropped $7k (13%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $42,240 (12.0% below list)

Questions for the listing agent

1. It's been on market 189 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 1930 — 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. 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: 1.77% ✓
• Cap rate: 14.64%
• Cash-on-cash: 29.82%
• DSCR: 2.33
• GRM: 4.7

CMA / ARV

• ARV (median comp): $25,511
• List price: $48,000
• Delta: 88.16%
• Verdict: OVERPRICED
• Comps: 18 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
120 S Cedar Ave	0.15mi	1/1.0	600 (+11%)	8mo	$64,900	$108	68

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: 23.6%
• Equity multiple: 1.96×
• Total profit: $12,915
• Equity at exit: $7,157

10-year hold

• IRR: 31.0%
• Equity multiple: 3.70×
• Total profit: $36,297
• Equity at exit: $4,150

Cash invested: $13,440 (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: 4.7×

Monthly cashflow live

• Estimated rent: $851 high
• Mortgage (P&I): −$252
• Tax from tax record: −$66 /mo · $795/yr
• Insurance: −$20
• HOA: −$0
• Vacancy / Maint / Mgmt: −$179
• Net cashflow: $334

Break-even live

Break-even rent $428

Max offer price $48,000

Occupancy floor 56%

Sensitivity live

Price	-10% $361	-5% $348	+0% $334	+5% $320	+10% $307
Rent	-10% $267	-5% $300	+0% $334	+5% $368	+10% $401
Rate	-1.0pp $358	-0.5pp $346	base $334	+0.5pp $322	+1.0pp $309

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: $12,000
• Closing costs: $1,440
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2317 W Martin Luther King Junior Dr Unit 1-106 Peoria, IL	1.0	1.0	588	$775	$1.32	44d	1	0.39mi
2317 W Martin Luther King Junior Dr Peoria, IL	1.0–2.0	1.0	697	$775	$1.11	14d	3	0.39mi
945 S Shelley St Peoria, IL	1.0–3.0	1.0–2.0	929	$795	$0.86	14d	1	0.92mi
2822 W Antoinette St Peoria, IL	2.0	1.0	720	$1,149	$1.60	21d	1	1.06mi
905 N Sheridan Rd Unit F Peoria, IL	1.0	1.0	650	$900	$1.38	44d	1	1.28mi
1703 N Valley Ave Peoria, IL	2.0	1.0	676	$1,200	$1.78	14d	1	1.48mi

Listing history 29 events

1. 2026-06-19
   days on market $48,000 Active 189 DOM
2. 2026-06-18
   days on market $48,000 Active 188 DOM
3. 2026-06-17
   days on market $48,000 Active 187 DOM
4. 2026-06-16
   days on market $48,000 Active 186 DOM
5. 2026-06-15
   days on market $48,000 Active 185 DOM
6. 2026-06-14
   days on market $48,000 Active 183 DOM
7. 2026-06-13
   pricedays on market $48,000 Active 182 DOM
8. 2026-06-10
   days on market $50,000 Active 180 DOM
9. 2026-06-09
   days on market $50,000 Active 179 DOM
10. 2026-06-08
    days on market $50,000 Active 178 DOM
11. 2026-06-07
    days on market $50,000 Active 177 DOM
12. 2026-06-03
    days on market $50,000 Active 173 DOM
13. 2026-06-02
    days on market $50,000 Active 172 DOM
14. 2026-06-01
    days on market $50,000 Active 171 DOM
15. 2026-05-31
    days on market $50,000 Active 170 DOM
16. 2026-05-30
    days on market $50,000 Active 169 DOM
17. 2026-01-23
    price $50,000 109-char remark

    Show marketing remark (109 chars)

    Duplex with two 1 bed/1 bath units—one occupied, one vacant. A great addition to your rental portfolio.

18. 2025-12-12
    listed $55,000 Active 109-char remark

    Show marketing remark (109 chars)

    Duplex with two 1 bed/1 bath units—one occupied, one vacant. A great addition to your rental portfolio.

19. 2024-03-19
    historical
20. 2023-09-26
    listed Active
21. 2023-08-29
    historical
22. 2023-08-15
    listed Active
23. 2021-06-16
    soldstatus $45,000
24. 2021-03-21
    listed $48,000
25. 2015-01-07
    soldstatus $45,000
26. 2012-05-01
    soldstatus $50,000
27. 2009-05-12
    soldstatus $12,500
28. 2009-05-07
    soldstatus $12,500
29. 2009-04-22
    listed $14,500

ⓘ 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: $795 · $66/mo
• Projected year-2 tax: $942 · $79/mo
• Expected delta: +$147/yr (+$12/mo · 18.5%)

ⓘ 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 · 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: $10,206
• − Mortgage interest: −$2,689
• − Property taxes: −$795
• − Insurance: −$240
• − Repairs & maintenance: −$817
• − Management: −$817
• − Depreciation: −$1,396
• Taxable income: $3,454
• Est. tax owed @ 24.0%: −$829
• After-tax cash flow: $3,179/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 — West Peoria

• Score: 76/100
• State rank: #181
• US rank: #3474

Category grades

Amenities F Commute A- Cost of living A+ Crime B- Employment C Housing A+ Health & safety B+ User ratings A-

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: West Peoria, IL
• County: Peoria County · 120,495 people
• 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

+244.8% since first listed

13 events — show timeline

• 2026-01-23 Price Changed $50,000 RMLSA as Distributed by MLS Grid
• 2025-12-12 Listed $55,000 RMLSA as Distributed by MLS Grid
• 2024-03-19 Listing Removed — RMLSA as Distributed by MLS Grid
• 2023-09-26 Listed — RMLSA as Distributed by MLS Grid
• 2023-08-29 Listing Removed — RMLSA as Distributed by MLS Grid
• 2023-08-15 Listed — RMLSA as Distributed by MLS Grid
• 2021-06-16 Sold (MLS) $45,000 RMLSA as Distributed by MLS Grid
• 2021-03-21 Listed $48,000 RMLSA as Distributed by MLS Grid
• 2015-01-07 Sold (Public Records) $45,000 Public Records
• 2012-05-01 Sold (Public Records) $50,000 Public Records
• 2009-05-12 Sold (Public Records) $12,500 Public Records
• 2009-05-07 Sold (MLS) $12,500 RMLSA as Distributed by MLS Grid
• 2009-04-22 Listed $14,500 RMLSA as Distributed by MLS Grid

Property tax history

+1.4%/yr

Latest (2024): $795 · +6.1% YoY. Source: county tax records.