1018 Groveland Ave · Peoria, IL 61604

$119,900

3 bd · 1.0 ba · 1,981 sqft · SingleFamily public records · 155 Days on market

Built 1940 6,350 sqft lot $61/sqft · 78% above area Est $98k · 22% over ↓ 7% since listing

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Why this score? — see what drove the D+ 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 +22.5/30.0
• DSCR +7.2/10.0
• 1% rule +6.0/10.0
• Livability +3.7/5.0
• Rent growth +3.1/5.0
• Condition / age +2.5/5.0
• Schools +1.1/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

LOTS OF NATURAL WOODWORK IN THIS LARGE 4/5 BEDROOM BRICK HOME. NEWER WATER HEATER, ROOF, FURANCE, C/A. HOME RENTS ON SECTION 8 FOR 1,500.00 A MONTH. MUST WALK THRU OFFICE/DEN ON UPPER LEVEL TO GET TO THE BATHROOM, IT IS BETWEEN BOTH BEDROOMS.

Key facts

• 6,350 sq ft lot
• Garage
• Built 1940

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $120k.

Deal economics

• At list price, monthly cash flow is $203 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $120k).
• Recommended offer: $106k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.3% 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: Rents rising (+2.3%/yr); 180 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 40% of comp listings sitting > 30 days — soft ceiling on asking rent; 73 units permitted in Peoria County in 2024 (0 in 5+ unit buildings).
• This rent runs 30% of the median local income ($52k/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 $829 of loan paydown is wiped out by about $4k 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.

Negotiation context

• It's been on market 155 days — a 12% lower offer ($106k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $105,512 (12.0% below list)

Questions for the listing agent

1. It's been on market 155 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1940 — 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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 1.10% ✓
• Cap rate: 8.32%
• Cash-on-cash: 7.24%
• DSCR: 1.32
• GRM: 7.6

CMA / ARV

• ARV (median comp): $98,099
• List price: $119,900
• Delta: 22.22%
• 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
803 W Meadows Pl	0.26mi	4/1.5 (+1)	1,924 (-3%)	1mo	$165,000	$86	75
1213 W Armstrong Ave	0.46mi	3/1.5	2,064 (+4%)	3mo	$64,000	$31	67
2304 N Ellis Ave	0.50mi	3/1.0	1,907 (-4%)	4mo	$76,000	$40	67
917 W Brons Ave	0.23mi	3/2.0	2,240 (+13%)	1mo	$22,000	$10	62
1321 N Ellis St	0.62mi	3/2.5	1,870 (-6%)	0mo	$143,000	$76	56
2719 N University St	0.72mi	3/1.5	1,893 (-4%)	3mo	$125,000	$66	54
1410 N Douglas St	0.50mi	2/2.0 (-1)	1,845 (-7%)	5mo	$38,500	$21	52
1404 N Amber Pl	0.68mi	3/1.5	1,792 (-10%)	1mo	$175,000	$98	50
1309 W Columbia Ter	0.58mi	4/3.0 (+1)	2,128 (+7%)	1mo	$183,500	$86	47
1027 N University St	0.74mi	4/2.5 (+1)	2,070 (+4%)	4mo	$235,000	$114	44
1112 W Columbia Ter	0.57mi	4/1.0 (+1)	1,726 (-13%)	5mo	$114,000	$66	43
720 W Loucks Ave	0.67mi	4/1.5 (+1)	1,711 (-14%)	4mo	$119,000	$70	36

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 · 2.3% rent growth · sell at horizon

5-year hold

• IRR: -6.0%
• Equity multiple: 0.78×
• Total profit: $-7,419
• Equity at exit: $17,877

10-year hold

• IRR: 2.8%
• Equity multiple: 1.19×
• Total profit: $6,535
• Equity at exit: $10,367

Cash invested: $33,572 (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 61604

• Home prices YoY: -24.6%
• Rents YoY: 2.3%
• Active inventory: 180
• Price-to-rent: 7.6×

Monthly cashflow live

• Estimated rent: $1,318 high
• Mortgage (P&I): −$629
• Tax from tax record: −$160 /mo · $1,918/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$277
• Net cashflow: $203

Break-even live

Break-even rent $1,061

Max offer price $119,900

Occupancy floor 80%

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: $29,975
• Closing costs: $3,597
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
913 W McClure Ave Peoria, IL	3.0	1.0	1400	$1,200	$0.86	20d	1	0.50mi
501 W Columbia Ter Unit 3 Peoria, IL	3.0	1.0	1500	$1,400	$0.93	43d	1	0.71mi
1413 W Gilbert Ave Peoria, IL	2.0	2.0	1428	$1,500	$1.05	13d	1	0.84mi
2210 Knoxville Ave #2212 Peoria, IL	2.0	1.0	1284	$950	$0.74	43d	1	0.90mi
1019 N Farmington Rd Unit 1017 Peoria, IL	3.0	1.0	1304	$1,600	$1.23	43d	1	0.93mi
1806 N Peoria Ave Peoria, IL	4.0	1.5	1668	$894	$0.54	13d	1	0.99mi
818 W Moss Ave Peoria, IL	2.0	2.0	1580	$1,800	$1.14	13d	1	1.05mi
308 E Archer Ave Peoria, IL	3.0	1.0	1444	$950	$0.66	13d	1	1.08mi
2523 W Nebraska Ave Peoria, IL	3.0	2.0	1600	$1,450	$0.91	20d	1	1.24mi
1816 W Callender Ave Peoria, IL	3.0	2.0	1628	$1,650	$1.01	43d	1	1.37mi

Listing history 18 events

1. 2026-06-19
   days on market $119,900 Active 155 DOM
2. 2026-06-18
   days on market $119,900 Active 154 DOM
3. 2026-06-17
   days on market $119,900 Active 153 DOM
4. 2026-06-16
   days on market $119,900 Active 152 DOM
5. 2026-06-15
   days on market $119,900 Active 151 DOM
6. 2026-06-14
   days on market $119,900 Active 149 DOM
7. 2026-06-13
   days on market $119,900 Active 148 DOM
8. 2026-06-10
   pricedays on market $119,900 Active 146 DOM
9. 2026-06-09
   days on market $129,900 Active 145 DOM
10. 2026-06-08
    days on market $129,900 Active 144 DOM
11. 2026-06-07
    days on market $129,900 Active 143 DOM
12. 2026-06-03
    days on market $129,900 Active 139 DOM
13. 2026-06-02
    days on market $129,900 Active 138 DOM
14. 2026-06-01
    days on market $129,900 Active 137 DOM
15. 2026-05-31
    days on market $129,900 Active 136 DOM
16. 2026-05-30
    days on market $129,900 Active 135 DOM
17. 2026-05-08
    price $129,900 243-char remark

    Show marketing remark (243 chars)

    LOTS OF NATURAL WOODWORK IN THIS LARGE 4/5 BEDROOM BRICK HOME. NEWER WATER HEATER, ROOF, FURANCE, C/A. HOME RENTS ON SECTION 8 FOR 1,500.00 A MONTH. MUST WALK THRU OFFICE/DEN ON UPPER LEVEL TO GET TO THE BATHROOM, IT IS BETWEEN BOTH BEDROOMS.

18. 2026-01-14
    listed $139,900 Active 243-char remark

    Show marketing remark (243 chars)

    LOTS OF NATURAL WOODWORK IN THIS LARGE 4/5 BEDROOM BRICK HOME. NEWER WATER HEATER, ROOF, FURANCE, C/A. HOME RENTS ON SECTION 8 FOR 1,500.00 A MONTH. MUST WALK THRU OFFICE/DEN ON UPPER LEVEL TO GET TO THE BATHROOM, IT IS BETWEEN BOTH BEDROOMS.

ⓘ 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: $1,918 · $160/mo
• Projected year-2 tax: $2,320 · $193/mo
• Expected delta: +$402/yr (+$34/mo · 21.0%)

ⓘ 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: $15,815
• − Mortgage interest: −$6,716
• − Property taxes: −$1,918
• − Insurance: −$600
• − Repairs & maintenance: −$1,265
• − Management: −$1,265
• − Depreciation: −$3,488
• Taxable income: $563
• Est. tax owed @ 24.0%: −$135
• After-tax cash flow: $2,296/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): 28,313
• Household income: $52,414
• Rent vs Own: 32.0% rent · 68.0% own
• Severe rent burden: 815.0

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: White 55% Black 29% Two or more races 10% Hispanic / Latino 7% Asian 2%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Italian 2% Slovak 1% Iranian 1%
• Foreign-born: 6% · Canada, China
• Languages at home: 92% English-only · Spanish 4% Chinese 1% French/Haitian/Cajun 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: ▼ -54.15%
• Current HPI: 165.8838
• Rent YoY: ▲ 2.30%
• 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

-7.1% since first listed

2 events — show timeline

• 2026-05-08 Price Changed $129,900 RMLSA as Distributed by MLS Grid
• 2026-01-14 Listed $139,900 RMLSA as Distributed by MLS Grid

Property tax history

+5.1%/yr

Latest (2024): $1,918 · +4.8% YoY. Source: county tax records.