1324 N Underhill St · Peoria, IL 61606

$49,000

3 bd · 1.0 ba · 1,497 sqft · SingleFamily public records · 87 Days on market

Built 1920 2,220 sqft lot $33/sqft · 36% below area Est $86k · 43% under

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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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.1/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

This home is sold as is. This home SOLD AS A PACKAGE with 1817 New York Ave, 1822 N Missouri Ave, 2226 N Ellis St, 1906 Missouri.

Key facts

• 2,220 sq ft lot
• 2 garage spots
• Built 1920

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $49k.

Deal economics

• At list price, monthly cash flow is $733 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $49k).
• Recommended offer: $46k (6.0% below list) — sets the bar for market timing.
• Cap rate 24.3% 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: 33 active listings in the ZIP; 26 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 42% of comp listings sitting > 30 days — soft ceiling on asking rent; lower-income renter base — watch delinquency; 73 units permitted in Peoria County in 2024 (0 in 5+ unit buildings).
• This rent runs 44% of the median local income ($39k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $339 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 + 3.0% rent growth), your $14k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 87 days — a 6% lower offer ($46k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 20y ago; this cycle's ask has dropped $16k (25%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $33k; 48% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: property tax is 3.2% of price; built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $46,060 (6.0% below list)

Questions for the listing agent

1. It's been on market 87 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. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 2.95% ✓
• Cap rate: 24.25%
• Cash-on-cash: 64.14%
• DSCR: 3.85
• GRM: 2.8

CMA / ARV

• ARV (median comp): $86,357
• List price: $49,000
• Delta: -43.26%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1328 N Broadway St	0.23mi	4/1.0 (+1)	1,596 (+7%)	1mo	$120,000	$75	73
816 W Columbia Ter	0.29mi	3/1.0	1,347 (-10%)	3mo	$38,000	$28	67
1009 W Armstrong Ave	0.12mi	3/2.0	1,310 (-12%)	4mo	$47,500	$36	66
1219 Sheridan Rd	0.40mi	3/1.5	1,632 (+9%)	0mo	$114,000	$70	64
1313 N Ellis St	0.48mi	3/2.0	1,402 (-6%)	3mo	$45,000	$32	61
1420 N Douglas St	0.36mi	3/1.0	1,336 (-11%)	8mo	$18,000	$13	58
809 W Eleanor Pl	0.62mi	3/1.5	1,339 (-11%)	5mo	$138,000	$103	48
310 W Armstrong Ave	0.70mi	3/1.5	1,668 (+11%)	7mo	$165,900	$99	41
905 N Orange St	0.48mi	4/1.5 (+1)	1,276 (-15%)	6mo	$111,000	$87	41
2115 N Bourland Ave	0.60mi	4/1.0 (+1)	1,281 (-14%)	5mo	$65,500	$51	39
1001 W Brons Ave	0.71mi	3/1.0	1,284 (-14%)	7mo	$72,100	$56	37
725 W Spring Hollow Ln	0.73mi	3/2.0	1,714 (+14%)	4mo	$169,500	$99	34

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 63.3%
• Equity multiple: 3.83×
• Total profit: $38,830
• Equity at exit: $7,306

10-year hold

• IRR: 67.7%
• Equity multiple: 7.87×
• Total profit: $94,215
• Equity at exit: $4,237

Cash invested: $13,720 (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 61606

• Home prices YoY: -34.0%
• Active inventory: 33
• Price-to-rent: 2.8×

Monthly cashflow live

• Estimated rent: $1,445 high
• Mortgage (P&I): −$257
• Tax from tax record: −$130 /mo · $1,566/yr
• Insurance: −$20
• HOA: −$0
• Vacancy / Maint / Mgmt: −$303
• Net cashflow: $733

Break-even live

Break-even rent $516

Max offer price $49,000

Occupancy floor 44%

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: $12,250
• Closing costs: $1,470
• Reserves months: —
• Total cash needed: —

Rent comps 26 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
501 W Columbia Ter Unit 3 Peoria, IL	3.0	1.0	1500	$1,400	$0.93	44d	1	0.54mi
1019 N Farmington Rd Unit 1017 Peoria, IL	3.0	1.0	1304	$1,600	$1.23	44d	1	0.59mi
2023 N Underhill St Peoria, IL	3.0	1.0	1050	$1,200	$1.14	13d	1	0.60mi
818 W Moss Ave Peoria, IL	2.0	2.0	1580	$1,800	$1.14	13d	1	0.61mi
416 W Main St Unit A Peoria, IL	2.0	1.0	1050	$950	$0.90	44d	1	0.66mi
903 W Brons Ave Peoria, IL	3.0	1.0	971	$995	$1.02	44d	1	0.75mi
1723 W Fredonia Ave Peoria, IL	4.0	2.5	1219	$2,100	$1.72	13d	1	0.79mi
1816 W Callender Ave Peoria, IL	3.0	2.0	1628	$1,650	$1.01	44d	1	0.94mi
814 W McClure Ave Peoria, IL	3.0	1.0	1148	$1,100	$0.96	44d	1	0.98mi
913 W McClure Ave Peoria, IL	3.0	1.0	1400	$1,200	$0.86	21d	1	0.98mi
1401 W Adrian G Hinton Ave Peoria, IL	2.0	1.0	1100	$775	$0.70	44d	1	1.02mi
1806 N Peoria Ave Peoria, IL	4.0	1.5	1668	$894	$0.54	13d	1	1.09mi
2210 Knoxville Ave #2212 Peoria, IL	2.0	1.0	1284	$950	$0.74	44d	1	1.19mi
123 SW Jefferson Ave Unit E16 NE Peoria, IL	2.0	2.0	1199	$2,250	$1.88	21d	1	1.25mi
123 SW Jefferson Ave Unit E15SW Peoria, IL	2.0	2.0	1100	$1,750	$1.59	13d	1	1.25mi
901 NE Glen Oak Ave Unit 2 Peoria, IL	3.0	1.0	1120	$1,200	$1.07	21d	1	1.27mi
2523 W Nebraska Ave Peoria, IL	3.0	2.0	1600	$1,450	$0.91	21d	1	1.28mi
102 N Cedar Ave West Peoria, IL	4.0	1.0	1272	$995	$0.78	44d	1	1.28mi
1413 W Gilbert Ave Peoria, IL	2.0	2.0	1428	$1,500	$1.05	13d	1	1.29mi
2601 W Kenwood Ave West Peoria, IL	3.0	1.5	1405	$1,500	$1.07	13d	1	1.32mi
308 E Archer Ave Peoria, IL	3.0	1.0	1444	$950	$0.66	13d	1	1.35mi
1540 W Kettelle St Peoria, IL	3.0	1.0	1001	$748	$0.75	13d	1	1.38mi
1214 W Butler St Peoria, IL	4.0	1.0	1440	$795	$0.55	44d	1	1.39mi
1801 N Gentry Ln West Peoria, IL	3.0	1.0	1000	$1,650	$1.65	13d	1	1.42mi
3108 N Parish Ave Peoria, IL	3.0	1.5	967	$1,750	$1.81	44d	1	1.48mi
2610 N Renwood Ave Peoria, IL	2.0	1.0	904	$1,300	$1.44	13d	1	1.49mi

Listing history 27 events

1. 2026-06-19
   days on market $49,000 Active 87 DOM
2. 2026-06-18
   days on market $49,000 Active 86 DOM
3. 2026-06-17
   days on market $49,000 Active 85 DOM
4. 2026-06-16
   days on market $49,000 Active 84 DOM
5. 2026-06-15
   days on market $49,000 Active 83 DOM
6. 2026-06-14
   days on market $49,000 Active 81 DOM
7. 2026-06-13
   days on market $49,000 Active 80 DOM
8. 2026-06-10
   days on market $49,000 Active 78 DOM
9. 2026-06-09
   days on market $49,000 Active 77 DOM
10. 2026-06-08
    days on market $49,000 Active 76 DOM
11. 2026-06-07
    days on market $49,000 Active 75 DOM
12. 2026-06-03
    days on market $49,000 Active 71 DOM
13. 2026-06-02
    days on market $49,000 Active 70 DOM
14. 2026-06-01
    days on market $49,000 Active 69 DOM
15. 2026-05-31
    days on market $49,000 Active 68 DOM
16. 2026-05-30
    days on market $49,000 Active 67 DOM
17. 2026-03-24
    listed $65,000 Active 130-char remark

    Show marketing remark (130 chars)

    This home is sold as is. This home SOLD AS A PACKAGE with 1817 New York Ave, 1822 N Missouri Ave, 2226 N Ellis St, 1906 Missouri.

18. 2023-08-18
    soldstatus $33,000 Closed 237-char remark

    Show marketing remark (237 chars)

    3 bedroom, 1 bathroom home for sale in the heart of Peoria. Being sold AS IS. This listing can be purchased as part of a package of 9 properties. All data is deemed credible but not guaranteed. Contact your agent for more information.

19. 2023-07-20
    status Pending 237-char remark

    Show marketing remark (237 chars)

    3 bedroom, 1 bathroom home for sale in the heart of Peoria. Being sold AS IS. This listing can be purchased as part of a package of 9 properties. All data is deemed credible but not guaranteed. Contact your agent for more information.

20. 2023-07-14
    listed $35,000 Active 237-char remark

    Show marketing remark (237 chars)

    3 bedroom, 1 bathroom home for sale in the heart of Peoria. Being sold AS IS. This listing can be purchased as part of a package of 9 properties. All data is deemed credible but not guaranteed. Contact your agent for more information.

21. 2021-08-06
    historical
22. 2018-10-04
    soldstatus $276,000
23. 2011-08-22
    soldstatus $24,900
24. 2011-06-27
    listed $24,900
25. 2006-11-02
    soldstatus $63,000
26. 2006-10-31
    soldstatus $62,900
27. 2006-09-01
    listed $65,000

ⓘ 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: $1,566 · $130/mo
• Projected year-2 tax: $1,566 · $130/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Climate risk First Street

• 🌊 Flood 3/10 Moderate FEMA zone X · 20% 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: $17,334
• − Mortgage interest: −$2,745
• − Property taxes: −$1,566
• − Insurance: −$245
• − Repairs & maintenance: −$1,387
• − Management: −$1,387
• − Depreciation: −$1,425
• Taxable income: $8,580
• Est. tax owed @ 24.0%: −$2,059
• After-tax cash flow: $6,741/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): 6,684
• Household income: $39,196
• Rent vs Own: 57.9% rent · 42.1% own
• Severe rent burden: 620.0

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: Predominantly White (66%)
• Race & ethnicity: White 66% Black 17% Two or more races 9% Hispanic / Latino 8% Asian 3%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Romanian 4% Slovak 2% Lithuanian 2%
• Foreign-born: 4% · Vietnam, Canada
• Languages at home: 94% English-only · Spanish 3% Other Indo-European 1% Chinese 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: ▼ -85.67%
• Current HPI: 166.329
• 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

+0.0% since first listed

11 events — show timeline

• 2026-03-24 Listed $65,000 RMLSA as Distributed by MLS Grid
• 2023-08-18 Sold (MLS) $33,000 RMLSA as Distributed by MLS Grid
• 2023-07-20 Pending — RMLSA as Distributed by MLS Grid
• 2023-07-14 Listed $35,000 RMLSA as Distributed by MLS Grid
• 2021-08-06 Listing Removed — RMLSA as Distributed by MLS Grid
• 2018-10-04 Sold (Public Records) $276,000 Public Records
• 2011-08-22 Sold (MLS) $24,900 RMLSA as Distributed by MLS Grid
• 2011-06-27 Listed $24,900 RMLSA as Distributed by MLS Grid
• 2006-11-02 Sold (Public Records) $63,000 Public Records
• 2006-10-31 Sold (MLS) $62,900 RMLSA as Distributed by MLS Grid
• 2006-09-01 Listed $65,000 RMLSA as Distributed by MLS Grid

Property tax history

+1.0%/yr

Latest (2024): $1,566 · +4.8% YoY. Source: county tax records.