626 Haungs Ave · Peoria, IL 61603

$65,000

3 bd · 1.0 ba · 1,289 sqft · SingleFamily public records · 69 Days on market

Built 1920 4,356 sqft lot $50/sqft · 91% 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 +3.7/5.0
• Rent growth +3.4/5.0
• Condition / age +2.5/5.0
• Schools +1.1/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Discover this inviting and well-maintained residence located at 626 Haungs Ave. This property offers a seamless blend of classic character and functional updates, featuring a bright and spacious layout highlighted by large windows that create a sun-drenched atmosphere throughout the living spaces. The modern kitchen provides ample cabinetry and counter space, while the owner’s suite offers a comfortable and private retreat. Outside, the property includes a private backyard perfect for outdoor relaxation. This property is conveniently located near local amenities with easy access to major roadways, ensuring a desirable location for any occupant. It is currently a high-performing investment, generating $1,225 in monthly rent with a lease in place through September. To respect the current residents, the property is tenant-occupied and a 24-hour notice is strictly required for all showings. Whether you are looking to expand your portfolio or secure a beautiful property with immediate cash flow, this home represents a professional and solid opportunity in the heart of Peoria.

Key facts

• 4,356 sq ft lot
• Parking
• Built 1920

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $65k.

Deal economics

• At list price, monthly cash flow is $355 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $65k).
• Recommended offer: $61k (6.0% below list) — sets the bar for market timing.
• Cap rate 12.9% 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+, 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 (+3.5%/yr); 104 active listings in the ZIP; 8 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $449 of loan paydown is wiped out by about $2k 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 + 3.5% rent growth), your $18k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 69 days — a 6% lower offer ($61k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 5y 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 $65k implies a 78% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $61,100 (6.0% below list)

Questions for the listing agent

1. It's been on market 69 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1920 — 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: 1.60% ✓
• Cap rate: 12.85%
• Cash-on-cash: 23.43%
• DSCR: 2.04
• GRM: 5.2

CMA / ARV

• ARV (median comp): $34,015
• List price: $65,000
• Delta: 91.09%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
520 Alexander Ave	0.08mi	2/1.0 (-1)	1,260 (-2%)	9mo	$13,000	$10	80
1712 NE Monroe St	0.65mi	3/1.0	1,280 (-1%)	1mo	$55,000	$43	68
805 Abington St	0.49mi	2/1.0 (-1)	1,344 (+4%)	6mo	$52,500	$39	60
509 SW Camblin Ave	0.27mi	3/1.0	1,134 (-12%)	9mo	$15,000	$13	60
2624 N Prospect Rd	0.69mi	2/1.0 (-1)	1,260 (-2%)	0mo	$74,500	$59	59
1110 E Arcadia Ave	0.74mi	3/1.0	1,268 (-2%)	10mo	$90,000	$71	54
3419 NE Adams St	0.51mi	2/1.0 (-1)	1,175 (-9%)	6mo	$63,000	$54	51
2714 N Prospect Rd	0.73mi	3/1.5	1,336 (+4%)	10mo	$80,000	$60	50
1618 NE Madison Ave	0.74mi	3/1.0	1,380 (+7%)	5mo	$31,750	$23	50
2327 N Prospect Rd	0.69mi	2/1.0 (-1)	1,224 (-5%)	6mo	$79,990	$65	50
522 Homestead Ave	0.47mi	4/1.0 (+1)	1,111 (-14%)	7mo	$73,000	$66	44
1619 NE Glendale Ave	0.72mi	2/1.0 (-1)	1,098 (-15%)	5mo	$45,000	$41	32

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 · 3.49% rent growth · sell at horizon

5-year hold

• IRR: 17.1%
• Equity multiple: 1.69×
• Total profit: $12,637
• Equity at exit: $9,692

10-year hold

• IRR: 26.0%
• Equity multiple: 3.33×
• Total profit: $42,379
• Equity at exit: $5,620

Cash invested: $18,200 (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 61603

• Home prices YoY: -31.8%
• Rents YoY: 3.5%
• Active inventory: 104
• Price-to-rent: 5.2×

Monthly cashflow live

• Estimated rent: $1,038 high
• Mortgage (P&I): −$341
• Tax from tax record: −$97 /mo · $1,165/yr
• Insurance: −$27
• HOA: −$0
• Vacancy / Maint / Mgmt: −$218
• Net cashflow: $355

Break-even live

Break-even rent $589

Max offer price $65,000

Occupancy floor 61%

Sensitivity live

Price	-10% $392	-5% $374	+0% $355	+5% $337	+10% $319
Rent	-10% $273	-5% $314	+0% $355	+5% $396	+10% $437
Rate	-1.0pp $388	-0.5pp $372	base $355	+0.5pp $338	+1.0pp $321

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: $16,250
• Closing costs: $1,950
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
526 Fairholm Ave Peoria, IL	3.0	2.0	1174	$925	$0.79	44d	1	0.19mi
2302 NE Monroe St Peoria, IL	3.0	1.0	1100	$875	$0.80	14d	1	0.26mi
2121 N Prospect Rd Peoria, IL	3.0	1.0	946	$802	$0.85	14d	1	0.67mi
506 Caroline St Unit B Peoria, IL	2.0	1.0	1000	$900	$0.90	14d	1	0.87mi
505 E Virginia Ave Peoria, IL	2.0	2.0	1204	$758	$0.63	14d	1	1.26mi
308 E Archer Ave Peoria, IL	3.0	1.0	1444	$950	$0.66	14d	1	1.35mi
901 NE Glen Oak Ave Unit 2 Peoria, IL	3.0	1.0	1120	$1,200	$1.07	21d	1	1.36mi
1806 N Peoria Ave Peoria, IL	4.0	1.5	1668	$894	$0.54	14d	1	1.44mi

Listing history 16 events

1. 2026-06-15
   days on market $65,000 Active 69 DOM
2. 2026-06-14
   days on market $65,000 Active 67 DOM
3. 2026-06-13
   days on market $65,000 Active 66 DOM
4. 2026-06-10
   days on market $65,000 Active 64 DOM
5. 2026-06-09
   days on market $65,000 Active 63 DOM
6. 2026-06-08
   days on market $65,000 Active 62 DOM
7. 2026-06-07
   days on market $65,000 Active 61 DOM
8. 2026-06-03
   days on market $65,000 Active 57 DOM
9. 2026-06-02
   days on market $65,000 Active 56 DOM
10. 2026-06-01
    days on market $65,000 Active 55 DOM
11. 2026-05-31
    days on market $65,000 Active 54 DOM
12. 2026-05-30
    days on market $65,000 Active 53 DOM
13. 2026-04-06
    listed $65,000 Active 1094-char remark

    Show marketing remark (1094 chars)

    Discover this inviting and well-maintained residence located at 626 Haungs Ave. This property offers a seamless blend of classic character and functional updates, featuring a bright and spacious layout highlighted by large windows that create a sun-drenched atmosphere throughout the living spaces. The modern kitchen provides ample cabinetry and counter space, while the owner’s suite offers a comfortable and private retreat. Outside, the property includes a private backyard perfect for outdoor relaxation. This property is conveniently located near local amenities with easy access to major roadways, ensuring a desirable location for any occupant. It is currently a high-performing investment, generating $1,225 in monthly rent with a lease in place through September. To respect the current residents, the property is tenant-occupied and a 24-hour notice is strictly required for all showings. Whether you are looking to expand your portfolio or secure a beautiful property with immediate cash flow, this home represents a professional and solid opportunity in the heart of Peoria.

14. 2022-02-01
    price $1,200
15. 2021-10-01
    soldstatus $36,500 370-char remark

    Show marketing remark (370 chars)

    Come take a look at this move in ready 4 bedroom home, right in the heart of Peoria! This home features a NEW kitchen w/ new cabinets, countertops and flooring! New flooring throughout the house! Large family room w/ tall ceilings. Half bath on the main level just off the kitchen. Updated Furnace, Plumbing etc... 2 bedrooms do not have closets. Come take a look today!

16. 2021-08-20
    listed $39,900 370-char remark

    Show marketing remark (370 chars)

    Come take a look at this move in ready 4 bedroom home, right in the heart of Peoria! This home features a NEW kitchen w/ new cabinets, countertops and flooring! New flooring throughout the house! Large family room w/ tall ceilings. Half bath on the main level just off the kitchen. Updated Furnace, Plumbing etc... 2 bedrooms do not have closets. Come take a look today!

ⓘ 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: $1,165 · $97/mo
• Projected year-2 tax: $1,320 · $110/mo
• Expected delta: +$155/yr (+$13/mo · 13.3%)

ⓘ 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: $12,461
• − Mortgage interest: −$3,641
• − Property taxes: −$1,165
• − Insurance: −$325
• − Repairs & maintenance: −$997
• − Management: −$997
• − Depreciation: −$1,891
• Taxable income: $3,445
• Est. tax owed @ 24.0%: −$827
• After-tax cash flow: $3,437/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): 15,356
• Household income: $41,618
• Rent vs Own: 47.1% rent · 52.9% own
• Severe rent burden: 849.0

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 0.68)
• Race & ethnicity: Black 43% White 36% Two or more races 12% Hispanic / Latino 10% Asian 1%
• Hispanic origin (detail): Mexican 7%
• Common ancestry: Italian 2% Slovak 1% Lithuanian 1%
• Foreign-born: 7% · Canada
• Languages at home: 91% English-only · Spanish 6% Tagalog/Filipino 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: ▼ -65.98%
• Current HPI: 141.5343
• Rent YoY: ▲ 3.49%
• 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

+62.9% since first listed

4 events — show timeline

• 2026-04-06 Listed $65,000 RMLSA as Distributed by MLS Grid
• 2022-02-01 Price Changed $1,200 RENT.
• 2021-10-01 Sold (MLS) $36,500 RMLSA as Distributed by MLS Grid
• 2021-08-20 Listed $39,900 RMLSA as Distributed by MLS Grid

Property tax history

+2.6%/yr

Latest (2024): $1,165 · +4.8% YoY. Source: county tax records.