804 E Nebraska Ave · Peoria, IL 61603

$35,000

3 bd · 1.0 ba · 1,133 sqft · SingleFamily public records · 66 Days on market

Built 1920 4,500 sqft lot $31/sqft · at area comps Est $35k · at est.

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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 +7.1/15.0
• 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

Investor special! This 2-bedroom, 1-bath home offers great potential for the right buyer willing to put in some work. Being sold AS IS. This property features a spacious layout and solid bones, making it an excellent opportunity to renovate and build equity. With its generous size and functional floor plan, it has strong potential as a long-term rental. Don’t miss your chance to turn this property into a valuable income producing asset.

Key facts

• 4,500 sq ft lot
• Garage
• Built 1920

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $35k.

Deal economics

• At list price, monthly cash flow is $629 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $35k).
• Recommended offer: $33k (6.0% below list) — sets the bar for market timing.
• Cap rate 27.8% 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; 23 comparable units currently listed for rent nearby; rentals at typical pace (median 21d 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).
• This rent runs 32% of the median local income ($42k/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 $242 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 + 3.5% rent growth), your $10k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 66 days — a 6% lower offer ($33k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $27k; 30% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

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

Recommended offer $32,900 (6.0% below list)

Questions for the listing agent

1. It's been on market 66 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: 3.21% ✓
• Cap rate: 27.84%
• Cash-on-cash: 76.96%
• DSCR: 4.42
• GRM: 2.6

CMA / ARV

• ARV (median comp): $34,712
• List price: $35,000
• Delta: 0.83%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
718 E Behrends Ave	0.10mi	3/1.0	1,140 (+1%)	2mo	$71,000	$62	93
2136 N Delaware St	0.28mi	3/1.0	1,130 (-0%)	3mo	$47,500	$42	84
908 E Behrends Ave	0.10mi	3/1.5	1,240 (+9%)	1mo	$65,000	$52	77
2206 N Wisconsin Ave	0.31mi	3/2.0	1,217 (+7%)	0mo	$30,000	$25	69
1619 NE Glendale Ave	0.42mi	2/1.0 (-1)	1,098 (-3%)	5mo	$45,000	$41	66
1507 NE Perry Ave	0.45mi	2/1.0 (-1)	1,224 (+8%)	1mo	$77,500	$63	60
1404 NE Glendale Ave	0.38mi	3/1.0	1,292 (+14%)	2mo	$35,000	$27	58
1305 NE Monroe St	0.51mi	2/1.0 (-1)	1,042 (-8%)	1mo	$50,000	$48	57
1420 NE Greenleaf St	0.34mi	2/4.0 (-1)	1,180 (+4%)	6mo	$55,000	$47	55
2327 N Prospect Rd	0.54mi	2/1.0 (-1)	1,224 (+8%)	6mo	$79,990	$65	52
1712 NE Monroe St	0.63mi	3/1.0	1,280 (+13%)	1mo	$55,000	$43	48
503 Evans St	0.66mi	3/1.0	1,289 (+14%)	2mo	$45,000	$35	45

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: 77.5%
• Equity multiple: 4.57×
• Total profit: $34,942
• Equity at exit: $5,219

10-year hold

• IRR: 81.2%
• Equity multiple: 9.61×
• Total profit: $84,387
• Equity at exit: $3,026

Cash invested: $9,800 (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: 2.6×

Monthly cashflow live

• Estimated rent: $1,123 high
• Mortgage (P&I): −$184
• Tax from tax record: −$60 /mo · $722/yr
• Insurance: −$15
• HOA: −$0
• Vacancy / Maint / Mgmt: −$236
• Net cashflow: $629

Break-even live

Break-even rent $327

Max offer price $35,000

Occupancy floor 39%

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: $8,750
• Closing costs: $1,050
• Reserves months: —
• Total cash needed: —

Rent comps 23 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2121 N Prospect Rd Peoria, IL	3.0	1.0	946	$802	$0.85	13d	1	0.41mi
901 NE Glen Oak Ave Unit 2 Peoria, IL	3.0	1.0	1120	$1,200	$1.07	21d	1	0.41mi
308 E Archer Ave Peoria, IL	3.0	1.0	1444	$950	$0.66	13d	1	0.54mi
506 Caroline St Unit B Peoria, IL	2.0	1.0	1000	$900	$0.90	13d	1	0.58mi
2210 Knoxville Ave #2212 Peoria, IL	2.0	1.0	1284	$950	$0.74	43d	1	0.61mi
505 E Virginia Ave Peoria, IL	2.0	2.0	1204	$758	$0.63	13d	1	0.64mi
737 E Gift Ave Unit 737 Peoria, IL	2.0	1.0	800	$1,125	$1.41	43d	1	0.66mi
2302 NE Monroe St Peoria, IL	3.0	1.0	1100	$875	$0.80	13d	1	0.95mi
501 W Columbia Ter Unit 3 Peoria, IL	3.0	1.0	1500	$1,400	$0.93	43d	1	0.99mi
2207 N Ellis St Peoria, IL	2.0	1.0	864	$999	$1.16	13d	1	1.02mi
416 W Main St Unit A Peoria, IL	2.0	1.0	1050	$950	$0.90	43d	1	1.11mi
812 W Macqueen Ave Peoria, IL	2.0	1.0	822	$795	$0.97	43d	1	1.23mi
526 Fairholm Ave Peoria, IL	3.0	2.0	1174	$925	$0.79	43d	1	1.23mi
903 W Brons Ave Peoria, IL	3.0	1.0	971	$995	$1.02	43d	1	1.24mi
123 SW Jefferson Ave Unit E15SW Peoria, IL	2.0	2.0	1100	$1,750	$1.59	13d	1	1.25mi
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 E6W Peoria, IL	2.0	1.0	868	$1,495	$1.72	21d	1	1.25mi
814 W McClure Ave Peoria, IL	3.0	1.0	1148	$1,100	$0.96	43d	1	1.26mi
905 W Thrush Ave Peoria, IL	2.0	1.0	750	$950	$1.27	21d	1	1.26mi
911 N Sheridan Rd Unit A4 Peoria, IL	2.0	1.0	825	$850	$1.03	43d	1	1.32mi
911 N Sheridan Rd Unit a1 Peoria, IL	2.0	1.0	825	$850	$1.03	13d	1	1.32mi
913 W McClure Ave Peoria, IL	3.0	1.0	1400	$1,200	$0.86	21d	1	1.35mi
2023 N Underhill St Peoria, IL	3.0	1.0	1050	$1,200	$1.14	13d	1	1.46mi

Listing history 8 events

1. 2026-06-01
   days on market $35,000 Active 66 DOM
2. 2026-05-31
   days on market $35,000 Active 65 DOM
3. 2026-05-30
   days on market $35,000 Active 64 DOM
4. 2026-04-12
   price $35,000 447-char remark

   Show marketing remark (447 chars)

   Investor special! This 2-bedroom, 1-bath home offers great potential for the right buyer willing to put in some work. Being sold AS IS. This property features a spacious layout and solid bones, making it an excellent opportunity to renovate and build equity. With its generous size and functional floor plan, it has strong potential as a long-term rental. Don’t miss your chance to turn this property into a valuable income producing asset.

5. 2026-04-03
   price $39,900 447-char remark

   Show marketing remark (447 chars)

   Investor special! This 2-bedroom, 1-bath home offers great potential for the right buyer willing to put in some work. Being sold AS IS. This property features a spacious layout and solid bones, making it an excellent opportunity to renovate and build equity. With its generous size and functional floor plan, it has strong potential as a long-term rental. Don’t miss your chance to turn this property into a valuable income producing asset.

6. 2026-03-27
   listed $44,900 Active 447-char remark

   Show marketing remark (447 chars)

   Investor special! This 2-bedroom, 1-bath home offers great potential for the right buyer willing to put in some work. Being sold AS IS. This property features a spacious layout and solid bones, making it an excellent opportunity to renovate and build equity. With its generous size and functional floor plan, it has strong potential as a long-term rental. Don’t miss your chance to turn this property into a valuable income producing asset.

7. 2021-08-06
   historical
8. 2019-09-16
   soldstatus $27,000

ⓘ 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: $722 · $60/mo
• Projected year-2 tax: $758 · $63/mo
• Expected delta: +$36/yr (+$3/mo · 5.0%)

ⓘ 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: $13,470
• − Mortgage interest: −$1,961
• − Property taxes: −$722
• − Insurance: −$175
• − Repairs & maintenance: −$1,078
• − Management: −$1,078
• − Depreciation: −$1,018
• Taxable income: $7,439
• Est. tax owed @ 24.0%: −$1,785
• After-tax cash flow: $5,757/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

+29.6% since first listed

5 events — show timeline

• 2026-04-12 Price Changed $35,000 RMLSA as Distributed by MLS Grid
• 2026-04-03 Price Changed $39,900 RMLSA as Distributed by MLS Grid
• 2026-03-27 Listed $44,900 RMLSA as Distributed by MLS Grid
• 2021-08-06 Listing Removed — RMLSA as Distributed by MLS Grid
• 2019-09-16 Sold (Public Records) $27,000 Public Records

Property tax history

+2.7%/yr

Latest (2024): $722 · +12.3% YoY. Source: county tax records.