1124 W Nowland Ave · Peoria, IL 61604

$64,900

3 bd · 1.0 ba · 1,305 sqft · SingleFamily public records · 11 Days on market

Built 1925 5,106 sqft lot Est $87k · 26% 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 +3.1/5.0
• Condition / age +2.5/5.0
• Schools +1.1/10.0
• Appreciation +0.0/10.0

Listing remarks

Coming Soon No Showings

Key facts

• 5,106 sq ft lot
• Parking
• Built 1925

Property features AI

Finance

• Other: Zoned residential

Exterior

• Parking: Gravel parking (no garage)
• Utilities: Public water; Public sewer
• Home design: Single family residence; Built in 1925
• Construction: Shingle roof; Not new construction
• Exterior features: Level lot; Shed(s); Lot dimensions approximately 40 x 127.66

Interior

• Kitchen: Upstairs kitchen (laminate flooring)
• Bedrooms: 2 bedrooms (bedrooms located on main and upper levels)
• Flooring: Carpet in multiple rooms; Laminate in kitchen and an additional room; Hardwood in office and upstairs living area
• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating; Window air conditioning units
• Interior features: Refrigerator included; Full unfinished basement

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 $502 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $65k).
• Cap rate 15.6% 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+, 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.
• Zoned schools: Peoria High School (math 4% / reading 7%, grade F, #609 of 693 statewide, top 88%, 1,447 students, 0% FRL) — zoned schools average 0% FRL vs 70% district-wide (70 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: Rents rising (+2.3%/yr); 180 active listings in the ZIP; 21 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 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 + 2.3% rent growth), your $18k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• Only 11 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1925 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $64,900

Questions for the listing agent

1. Built in 1925 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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.
6. 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.
7. 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: 1.89% ✓
• Cap rate: 15.57%
• Cash-on-cash: 33.13%
• DSCR: 2.47
• GRM: 4.4

CMA / ARV

• ARV (on-the-fly): $87,435
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2320 N University St	0.12mi	3/1.5	1,284 (-2%)	0mo	$125,000	$97	89
2235 N University St	0.13mi	4/2.0 (+1)	1,410 (+8%)	1mo	$37,000	$26	71
2223 N Sheridan Rd	0.38mi	3/1.0	1,412 (+8%)	1mo	$53,000	$38	68
1117 W Gift Ave	0.28mi	3/2.0	1,426 (+9%)	1mo	$5,000	$4	66
927 W Loucks Ave	0.49mi	2/1.0 (-1)	1,372 (+5%)	2mo	$90,000	$66	62
510 W Gift Ave	0.57mi	3/1.0	1,224 (-6%)	2mo	$115,575	$94	61
2914 N Isabell Ave	0.50mi	3/1.0	1,420 (+9%)	1mo	$53,100	$37	61
726 W Corrington Ave	0.54mi	3/1.0	1,200 (-8%)	2mo	$79,900	$67	60
2211 N Ellis St	0.45mi	3/1.0	1,127 (-14%)	1mo	$33,000	$29	55
2931 N Saint Philomena Ct	0.57mi	3/2.0	1,427 (+9%)	1mo	$156,000	$109	53
1217 W Gilbert Ave	0.48mi	2/1.5 (-1)	1,165 (-11%)	0mo	$95,000	$82	52
1514 W Margaret Ave	0.62mi	2/1.0 (-1)	1,140 (-13%)	1mo	$122,250	$107	44

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: 27.5%
• Equity multiple: 2.13×
• Total profit: $20,605
• Equity at exit: $9,677

10-year hold

• IRR: 34.6%
• Equity multiple: 4.07×
• Total profit: $55,736
• Equity at exit: $5,611

Cash invested: $18,172 (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: 4.4×

Monthly cashflow live

• Estimated rent: $1,224 high
• Mortgage (P&I): −$340
• Tax from tax record: −$98 /mo · $1,180/yr
• Insurance: −$27
• HOA: −$0
• Vacancy / Maint / Mgmt: −$257
• Net cashflow: $502

Break-even live

Break-even rent $590

Max offer price $64,900

Occupancy floor 54%

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: $16,225
• Closing costs: $1,947
• Reserves months: —
• Total cash needed: —

Rent comps 21 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	21d	1	0.23mi
2023 N Underhill St Peoria, IL	3.0	1.0	1050	$1,200	$1.14	13d	1	0.24mi
903 W Brons Ave Peoria, IL	3.0	1.0	971	$995	$1.02	44d	1	0.24mi
814 W McClure Ave Peoria, IL	3.0	1.0	1148	$1,100	$0.96	44d	1	0.29mi
1413 W Gilbert Ave Peoria, IL	2.0	2.0	1428	$1,500	$1.05	13d	1	0.50mi
3108 N Parish Ave Peoria, IL	3.0	1.5	967	$1,750	$1.81	44d	1	0.66mi
2210 Knoxville Ave #2212 Peoria, IL	2.0	1.0	1284	$950	$0.74	44d	1	0.92mi
501 W Columbia Ter Unit 3 Peoria, IL	3.0	1.0	1500	$1,400	$0.93	44d	1	1.02mi
2610 N Renwood Ave Peoria, IL	2.0	1.0	904	$1,300	$1.44	13d	1	1.06mi
308 E Archer Ave Peoria, IL	3.0	1.0	1444	$950	$0.66	13d	1	1.07mi
1806 N Peoria Ave Peoria, IL	4.0	1.5	1668	$894	$0.54	13d	1	1.15mi
505 E Virginia Ave Peoria, IL	2.0	2.0	1204	$758	$0.63	13d	1	1.19mi
1019 N Farmington Rd Unit 1017 Peoria, IL	3.0	1.0	1304	$1,600	$1.23	44d	1	1.19mi
2523 W Nebraska Ave Peoria, IL	3.0	2.0	1600	$1,450	$0.91	21d	1	1.23mi
416 W Main St Unit A Peoria, IL	2.0	1.0	1050	$950	$0.90	44d	1	1.28mi
W Crestwood Dr Peoria, IL	1.0–2.0	1.0	800	$975	$1.22	13d	4	1.38mi
818 W Moss Ave Peoria, IL	2.0	2.0	1580	$1,800	$1.14	13d	1	1.39mi
3629 N Leroy Ave Unit A Peoria, IL	2.0	1.0	1000	$1,150	$1.15	44d	1	1.40mi
1801 N Gentry Ln West Peoria, IL	3.0	1.0	1000	$1,650	$1.65	13d	1	1.44mi
4010 N Brandywine Dr Peoria, IL	1.0–2.0	1.0–2.0	797	$1,082	$1.36	13d	17	1.47mi
901 NE Glen Oak Ave Unit 2 Peoria, IL	3.0	1.0	1120	$1,200	$1.07	21d	1	1.50mi

Listing history 10 events

1. 2026-06-19
   days on market $64,900 Coming Soon 11 DOM
2. 2026-06-18
   days on market $64,900 Coming Soon 10 DOM
3. 2026-06-17
   days on market $64,900 Coming Soon 9 DOM
4. 2026-06-16
   days on market $64,900 Coming Soon 8 DOM
5. 2026-06-15
   days on market $64,900 Coming Soon 7 DOM
6. 2026-06-14
   days on market $64,900 Coming Soon 5 DOM
7. 2026-06-13
   days on market $64,900 Coming Soon 4 DOM
8. 2026-06-10
   days on market $64,900 Coming Soon 2 DOM
9. 2026-06-09
   remarks 23-char remark
10. 2026-06-09
    listed $64,900 Coming Soon 1 DOM

ⓘ 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: $1,180 · $98/mo
• Projected year-2 tax: $1,327 · $111/mo
• Expected delta: +$147/yr (+$12/mo · 12.4%)

ⓘ 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: $14,694
• − Mortgage interest: −$3,635
• − Property taxes: −$1,180
• − Insurance: −$324
• − Repairs & maintenance: −$1,176
• − Management: −$1,176
• − Depreciation: −$1,888
• Taxable income: $5,315
• Est. tax owed @ 24.0%: −$1,276
• After-tax cash flow: $4,744/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

1 event — show timeline

• 2026-06-08 Coming Soon $64,900 RMLSA as Distributed by MLS Grid

Property tax history

+1.6%/yr

Latest (2025): $1,180 · +10.9% YoY. Source: county tax records.