1511 S Queens Dr · Peoria, IL 61605

$80,000

3 bd · 1.0 ba · 912 sqft · SingleFamily public records · 15 Days on market

Built 1969 6,534 sqft lot Est $71k · 12% over

---

Why this score? — see what drove the C+ 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 +27.5/30.0
• DSCR +9.7/10.0
• 1% rule +7.9/10.0
• 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
• ARV discount +1.9/15.0

Listing remarks MLS

PROPERTY SOLD AS-IS CONDITION. Proof of funds or prequalification letter and copy of earnest money check (made out to Jim Maloof Realtor) MUST accompany all offers for consideration. Addendums to be signed ONLY after an offer has been accepted. Information and dimensions approximate - not guaranteed.

Key facts

• Front deck
• Attached garage
• Burn pit

Tags

• LIMESTONE SCHOOL DISTRICT
• ATTACHED GARAGE
• FRONT DECK
• BACK DECK
• BURN PIT
• STORAGE SHED

Property features AI

Exterior

• Parking: Attached parking garage; One garage space
• Utilities: Public sewer
• Home design: Single-family residence; Built in 1969; Total living area reported as 1,824
• Construction: 1969 construction; Building area reported as 912 (per building area entry)
• Exterior features: Shingle roof; Dead-end street lot

Interior

• Kitchen: Kitchen (approx. 15 x 20)
• Bedrooms: Three bedrooms (all on the main level); Each main-level bedroom approx. 15 x 15 with egress windows
• Flooring: Other flooring (specified for bedrooms and some rooms)
• Bathrooms: One full bathroom; One half bathroom
• Interior features: Partially finished basement; No fireplaces

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $80k.

Deal economics

• At list price, monthly cash flow is $237 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $80k).
• Recommended offer: $79k (1.5% below list) — sets the bar for market timing.
• Cap rate 9.9% 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.
• 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: Limestone Community High School (math 17% / reading 22%, grade F, #397 of 693 statewide, top 61%, 924 students, 0% FRL).
• Market conditions: 42 active listings in the ZIP; 14 comparable units currently listed for rent nearby; rentals at typical pace (median 14d 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).
• At $1,033/mo this rent would consume 47% of the median local household income ($26k/yr) (locally 1385% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $1k of equity ($553 loan paydown + $506 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 $22k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 15 days — a 2% lower offer ($79k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 20y 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 $36k; list at $80k implies a 122% gain — meaningful room to come down on a strong offer.

Recommended offer $78,800 (1.5% below list)

Questions for the listing agent

1. Built in 1969 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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.
6. 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.
7. 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: 1.29% ✓
• Cap rate: 9.85%
• Cash-on-cash: 12.71%
• DSCR: 1.57
• GRM: 6.5

CMA / ARV

• ARV (on-the-fly): $71,136
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3135 W Starr St	0.36mi	3/1.0	960 (+5%)	1mo	$100,000	$104	74
1605 S Crest Dr	0.13mi	2/1.0 (-1)	946 (+4%)	15mo	$89,900	$95	70
3507 W Verna St	0.12mi	3/1.0	1,008 (+10%)	14mo	$96,900	$96	65
1023 S Tonti Cir	0.49mi	2/1.0 (-1)	896 (-2%)	10mo	$70,000	$78	61
1707 S East Ln	0.23mi	2/1.0 (-1)	992 (+9%)	13mo	$95,000	$96	59
3024 W Trewyn Ave	0.65mi	3/1.0	922 (+1%)	13mo	$30,000	$33	56
3031 Meidroth St	0.58mi	2/1.0 (-1)	926 (+2%)	13mo	$38,000	$41	55
850 Kim Moor Ave	0.64mi	2/1.0 (-1)	884 (-3%)	8mo	$70,000	$79	53
3021 W Malone St	0.53mi	2/1.0 (-1)	1,000 (+10%)	1mo	$17,000	$17	53
873 S Kim Moor Rd	0.74mi	2/1.0 (-1)	904 (-1%)	11mo	$39,000	$43	50
2023 S Elizabeth St	0.53mi	3/1.0	1,028 (+13%)	10mo	$61,860	$60	46
3203 W Proctor Pl	0.60mi	2/1.0 (-1)	793 (-13%)	6mo	$33,500	$42	40

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: 13.6%
• Equity multiple: 1.68×
• Total profit: $15,211
• Equity at exit: $25,793

10-year hold

• IRR: 17.6%
• Equity multiple: 3.06×
• Total profit: $46,123
• Equity at exit: $33,131

Cash invested: $22,400 (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: 42
• Price-to-rent: 6.5×

Monthly cashflow live

• Estimated rent: $1,033 high
• Mortgage (P&I): −$420
• Tax from tax record: −$126 /mo · $1,512/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$217
• Net cashflow: $237

Break-even live

Break-even rent $733

Max offer price $80,000

Occupancy floor 72%

Sensitivity live

Price	-10% $283	-5% $260	+0% $237	+5% $215	+10% $192
Rent	-10% $156	-5% $196	+0% $237	+5% $278	+10% $319
Rate	-1.0pp $278	-0.5pp $258	base $237	+0.5pp $217	+1.0pp $195

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: $20,000
• Closing costs: $2,400
• Reserves months: —
• Total cash needed: —

Rent comps 14 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1825 S Kneer Ave Peoria, IL	2.0	1.0	858	$858	$1.00	14d	1	0.51mi
906 S Tonti Cir Peoria, IL	2.0	1.0	780	$950	$1.22	14d	1	0.67mi
2804 W Humboldt St Peoria, IL	3.0	1.0	1060	$995	$0.94	14d	1	0.68mi
2916 W Meidroth St Peoria, IL	2.0	1.0	1125	$1,049	$0.93	21d	1	0.68mi
2822 W Antoinette St Peoria, IL	2.0	1.0	720	$1,149	$1.60	21d	1	0.78mi
3031 W Wiswall St Peoria, IL	2.0	1.0	1100	$1,100	$1.00	14d	1	0.80mi
3001 W Wiswall St Peoria, IL	2.0	1.0	1000	$1,100	$1.10	14d	1	0.85mi
2320 W Garden St Peoria, IL	2.0	1.0	1096	$1,000	$0.91	44d	1	1.10mi
1507 S Livingston St Peoria, IL	2.0	1.0	842	$946	$1.12	44d	1	1.14mi
1610 S Lydia Ave Peoria, IL	4.0	1.0	850	$850	$1.00	14d	1	1.23mi
5817 S Adams St Bartonville, IL	2.0	1.0	768	$975	$1.27	14d	1	1.28mi
2116 W Proctor St Peoria, IL	2.0	1.0	912	$879	$0.96	14d	1	1.31mi
2317 W Martin Luther King Junior Dr Unit 2-214 Peoria, IL	2.0	1.0	807	$800	$0.99	44d	1	1.43mi
2317 W Martin Luther King Junior Dr Peoria, IL	1.0–2.0	1.0	697	$800	$1.15	14d	3	1.43mi

Listing history 12 events

1. 2026-06-19
   days on market $80,000 Active 15 DOM
2. 2026-06-18
   days on market $80,000 Active 14 DOM
3. 2026-06-17
   days on market $80,000 Active 13 DOM
4. 2026-06-16
   days on market $80,000 Active 12 DOM
5. 2026-06-15
   days on market $80,000 Active 11 DOM
6. 2026-06-14
   days on market $80,000 Active 9 DOM
7. 2026-06-13
   days on market $80,000 Active 8 DOM
8. 2026-06-10
   days on market $80,000 Active 6 DOM
9. 2026-06-09
   days on market $80,000 Active 5 DOM
10. 2026-06-08
    days on market $80,000 Active 4 DOM
11. 2026-06-07
    remarks 699-char remark
12. 2026-06-07
    listed $80,000 Active 3 DOM

ⓘ 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: $1,512 · $126/mo
• Projected year-2 tax: $1,664 · $139/mo
• Expected delta: +$152/yr (+$13/mo · 10.1%)

ⓘ 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: $12,396
• − Mortgage interest: −$4,481
• − Property taxes: −$1,512
• − Insurance: −$400
• − Repairs & maintenance: −$992
• − Management: −$992
• − Depreciation: −$2,327
• Taxable income: $1,693
• Est. tax owed @ 24.0%: −$406
• After-tax cash flow: $2,441/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

+100.5% since first listed

4 events — show timeline

• 2026-06-04 Listed $80,000 RMLSA as Distributed by MLS Grid
• 2006-06-20 Sold (Public Records) $36,000 Public Records
• 2006-06-14 Sold (MLS) $36,000 RMLSA as Distributed by MLS Grid
• 2006-05-03 Listed $39,900 RMLSA as Distributed by MLS Grid

Property tax history

+2.1%/yr

Latest (2025): $1,512 · +5.6% YoY. Source: county tax records.