5734 N Autumn Ridge Ct

Peoria, IL 61615

$320,000B-

8 bd · 4.0 ba · 4,830 sqft · Built 1980 · MultiFamily · Active · 1 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $5,459/mo
• Mortgage (P&I): −$1,678
• Tax + insurance: −$834
• HOA: −$0
• Vac / Maint / Mgmt: −$1,146
• Net cashflow: $1,801/mo
• Annual: $21,606/yr
• Cap rate: 13.04%
• Cash-on-cash: 24.11%
• DSCR: 2.07
• 1% rule: 1.71%
• Cash to close: $89,600

Investor read

• This is a 4 × 3-bed/1.0-bath units multifamily listed at $320k.
• At list price, monthly cash flow is $2k ($22k/yr) — positive. Per door: $450/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $320k).
• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $10k of value loss. Plan a longer hold.
• 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: Richwoods High School (math 30% / reading 35%, grade F, #152 of 693 statewide, top 22%, 1,580 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.
• Zoned-school proficiency averages 32% at this address vs 12% district-wide (+20 pts) — the actual schools serving this property are materially stronger than the Peoria SD 150 average implies; a family-tenant draw the district grade alone would hide.
• Watch-outs: property tax is 2.6% of price.
• Market conditions: 127 active listings in the ZIP; solid renter incomes; 73 units permitted in Peoria County in 2024 (0 in 5+ unit buildings).
• Peoria County population projected at -11% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 3 sale attempts since 22y 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 $217k; 47% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $90k cash investment doubles in ~6 years — after that, you're playing with house money.
• Cap rate 13.0% 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.
• At $5,459/mo this rent would consume 82% of the median local household income ($80k/yr) (locally 833% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Questions for listing agent

• Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
• What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
• Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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?
• 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.
• 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.