1601 E London Ave · Peoria, IL 61603

$34,900

2 bd · 1.0 ba · 700 sqft · SingleFamily public records · 222 Days on market

Built 1930 0.27 ac lot $50/sqft · 51% below area ↓ 20% since listing

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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

RARE 30-PROPERTY PORTFOLIO! Instantly scale your real estate holdings with this incredible 30-property package. This portfolio is a prime value-add opportunity with massive upward income potential. Current rented properties provide income while you rehab the others.  Don’t miss out on this amazing opportunity.

Key facts

• 0.27 acre lot
• Built 1930
• Listed 222 days

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $35k.

Deal economics

• At list price, monthly cash flow is $503 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($983 rent vs $35k).
• Recommended offer: $31k (12.0% below list) — sets the bar for market timing.
• Cap rate 23.6% 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; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 15d 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 $241 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 222 days — a 12% lower offer ($31k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: property tax is 2.6% of price; built in 1930 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $30,712 (12.0% below list)

Questions for the listing agent

1. It's been on market 222 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 1930 — 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: 2.82% ✓
• Cap rate: 23.59%
• Cash-on-cash: 61.76%
• DSCR: 3.75
• GRM: 3.0

CMA / ARV

• ARV (median comp): $70,797
• List price: $34,900
• Delta: -50.70%
• 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
3824 N Dayton Ave	0.27mi	2/1.0	672 (-4%)	6mo	$65,000	$97	75
3824 N Ashton Ave	0.32mi	2/1.0	676 (-3%)	10mo	$90,000	$133	71
1315 E Rouse Ave	0.60mi	2/1.0	700 (0%)	12mo	$77,500	$111	62
1217 E Melbourne Ave	0.56mi	2/1.0	760 (+9%)	8mo	$62,500	$82	53
1101 E Melbourne Ave	0.66mi	3/1.0 (+1)	680 (-3%)	10mo	$41,000	$60	51
1118 E Melbourne Ave	0.64mi	1/— (-1)	648 (-7%)	4mo	$12,500	$19	50
2709 N Springdale Ave	0.72mi	1/1.0 (-1)	650 (-7%)	0mo	$83,000	$128	49
4415 N Constantine Ave	0.71mi	2/1.0	744 (+6%)	12mo	$129,900	$175	46
1108 E Hazard Ave	0.59mi	2/1.0	789 (+13%)	8mo	$107,500	$136	44
1408 E Moneta Ave	0.73mi	2/1.0	624 (-11%)	5mo	$115,000	$184	44
1107 E Hines Ave	0.65mi	2/1.0	620 (-11%)	10mo	$95,000	$153	42
1027 E Maywood Ave	0.71mi	2/1.5	796 (+14%)	10mo	$65,000	$82	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 · 3.49% rent growth · sell at horizon

5-year hold

• IRR: 61.3%
• Equity multiple: 3.75×
• Total profit: $26,898
• Equity at exit: $5,204

10-year hold

• IRR: 66.0%
• Equity multiple: 7.84×
• Total profit: $66,827
• Equity at exit: $3,018

Cash invested: $9,772 (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: 3.0×

Monthly cashflow live

• Estimated rent: $983 medium
• Mortgage (P&I): −$183
• Tax from tax record: −$76 /mo · $912/yr
• Insurance: −$15
• HOA: −$0
• Vacancy / Maint / Mgmt: −$206
• Net cashflow: $503

Break-even live

Break-even rent $346

Max offer price $34,900

Occupancy floor 44%

Sensitivity live

Price	-10% $523	-5% $513	+0% $503	+5% $493	+10% $483
Rent	-10% $425	-5% $464	+0% $503	+5% $542	+10% $581
Rate	-1.0pp $521	-0.5pp $512	base $503	+0.5pp $494	+1.0pp $485

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: $8,725
• Closing costs: $1,047
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
811 E Lake Ave Peoria Heights, IL	2.0	1.0	576	$875	$1.52	14d	1	0.87mi
249 E Oak Cliff Ct Unit 4 Peoria, IL	2.0	1.0	600	$800	$1.33	14d	1	1.35mi
4914 N Best St Peoria Heights, IL	2.0	1.0	720	$1,200	$1.67	45d	1	1.43mi

Listing history 14 events

1. 2026-06-15
   days on market $34,900 Active 222 DOM
2. 2026-06-14
   days on market $34,900 Active 220 DOM
3. 2026-06-13
   days on market $34,900 Active 219 DOM
4. 2026-06-10
   days on market $34,900 Active 217 DOM
5. 2026-06-09
   days on market $34,900 Active 216 DOM
6. 2026-06-08
   days on market $34,900 Active 215 DOM
7. 2026-06-07
   days on market $34,900 Active 214 DOM
8. 2026-06-03
   days on market $34,900 Active 210 DOM
9. 2026-06-02
   days on market $34,900 Active 209 DOM
10. 2026-06-01
    days on market $34,900 Active 208 DOM
11. 2026-05-31
    days on market $34,900 Active 207 DOM
12. 2026-05-30
    days on market $34,900 Active 206 DOM
13. 2026-03-23
    price $34,900 327-char remark

    Show marketing remark (327 chars)

    RARE 30-PROPERTY PORTFOLIO! Instantly scale your real estate holdings with this incredible 30-property package. This portfolio is a prime value-add opportunity with massive upward income potential. Current rented properties provide income while you rehab the others.  Don’t miss out on this amazing opportunity.

14. 2025-11-05
    listed $43,500 Active 327-char remark

    Show marketing remark (327 chars)

    RARE 30-PROPERTY PORTFOLIO! Instantly scale your real estate holdings with this incredible 30-property package. This portfolio is a prime value-add opportunity with massive upward income potential. Current rented properties provide income while you rehab the others.  Don’t miss out on this amazing opportunity.

ⓘ 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: $912 · $76/mo
• Projected year-2 tax: $912 · $76/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 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: $11,794
• − Mortgage interest: −$1,955
• − Property taxes: −$912
• − Insurance: −$174
• − Repairs & maintenance: −$944
• − Management: −$944
• − Depreciation: −$1,015
• Taxable income: $5,851
• Est. tax owed @ 24.0%: −$1,404
• After-tax cash flow: $4,631/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

-19.8% since first listed

2 events — show timeline

• 2026-03-23 Price Changed $34,900 RMLSA as Distributed by MLS Grid
• 2025-11-05 Listed $43,500 RMLSA as Distributed by MLS Grid

Property tax history

-2.5%/yr

Latest (2024): $912 · +10.6% YoY. Source: county tax records.