1823-1825 N Linn St · Peoria, IL 61604

$75,000

5 bd · 2.0 ba · 2,038 sqft · MultiFamily public records · 57 Days on market

Built 1880 9,147 sqft lot Est $67k · 12% over

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Why this score? — see what drove the C+ 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
• Livability +3.7/5.0
• Rent growth +3.1/5.0
• Condition / age +2.5/5.0
• ARV discount +2.3/15.0
• Schools +1.1/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks

Fully occupied duplex generating approxiately $15,600 annually. Estimated NOI $9,300. Approx. 13.67% cap rate at $79,900 Two 2 BR/1BA units Strong rental area. Furnace 4 years old Hot water heater 1 year old. South roof 4 yr old, Back roof 8 yr old. 9 new windws. Hardwood floors. Sold AS-IS Opportunity to increase rents. Improve property by building a 2 car garage. This property offers a practical and affordable investment option with a duplex layout, giving buyers the ability to create rental income, house-hack, or add a solid property to their portfolio. . With separate living spaces & strong rental demand, this property is ideal for an investor looking for cash flow and long-term

Key facts

• Strong rental demand
• Accessibility
• Nice curb appeal

Tags

• DUPLEX LAYOUT
• SEPARATE LIVING SPACES
• STRONG RENTAL DEMAND
• NICE CURB APPEAL
• NEAR EVERYDAY CONVENIENCES
• ACCESSIBILITY

Property features AI

Finance

• Other: Building area approximately 2,038 total square feet
• Financial info: Unit 1 currently rents for $600; Unit 2 currently rents for $700

Exterior

• Parking: Total of 2 parking spaces; On-street parking available; Parking pad
• Utilities: Public water; Public sewer
• Home design: Residential income property; Two-unit building
• Construction: Built in 1880
• Exterior features: Level lot; Shingle roof

Interior

• Bedrooms: Two 2-bedroom units
• Bathrooms: Two full bathrooms (one per unit)
• Heating & cooling: Forced air heating; Window unit(s) for cooling
• Interior features: Unfinished basement

What this means for you Summary

Snapshot

• This is a 2 × 2.0-bed/1.0-bath units multifamily listed at $75k.

Deal economics

• At list price, monthly cash flow is $1k ($15k/yr) — positive. Per door: $616/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $75k).
• Recommended offer: $73k (3.0% below list) — sets the bar for market timing.
• Cap rate 26.0% 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; 1 comparable units currently listed for rent nearby; 73 units permitted in Peoria County in 2024 (0 in 5+ unit buildings).
• At $2,165/mo this rent would consume 50% of the median local household income ($52k/yr) (locally 815% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $519 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 $21k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 57 days — a 3% lower offer ($73k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1880 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $72,750 (3.0% below list)

Questions for the listing agent

1. It's been on market 57 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1880 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 2.89% ✓
• Cap rate: 26.01%
• Cash-on-cash: 70.42%
• DSCR: 4.13
• GRM: 2.9

CMA / ARV

• ARV (on-the-fly): $67,254
• Comps found: 6

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1504 N Linn St	0.29mi	4/2.0 (-1)	2,268 (+11%)	1mo	$23,000	$10	62
2315 N Sheridan Rd	0.61mi	4/2.0 (-1)	1,920 (-6%)	4mo	$50,000	$26	54
1427 N Sheridan Rd	0.52mi	4/2.0 (-1)	2,232 (+10%)	3mo	$113,300	$51	52
2400 N Sheridan Rd	0.61mi	4/2.0 (-1)	2,156 (+6%)	11mo	$71,000	$33	47
2315 N Bigelow St	0.42mi	4/2.0 (-1)	2,200 (+8%)	23mo	$78,900	$36	43
1404 N Broadway St	0.68mi	4/2.0 (-1)	1,800 (-12%)	2mo	$60,000	$33	42

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: 69.2%
• Equity multiple: 4.09×
• Total profit: $64,825
• Equity at exit: $11,183

10-year hold

• IRR: 73.1%
• Equity multiple: 8.21×
• Total profit: $151,414
• Equity at exit: $6,485

Cash invested: $21,000 (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: 5.8×

Monthly cashflow live

• Estimated rent: $2,165 high
• Mortgage (P&I): −$393
• Tax from tax record: −$54 /mo · $642/yr
• Insurance: −$31
• HOA: −$0
• Vacancy / Maint / Mgmt: −$455
• Net cashflow: $1,232

Break-even live

Break-even rent $605

Max offer price $75,000

Occupancy floor 38%

Sensitivity live

Price	-10% $1,275	-5% $1,254	+0% $1,232	+5% $1,211	+10% $1,190
Rent	-10% $1,061	-5% $1,147	+0% $1,232	+5% $1,318	+10% $1,403
Rate	-1.0pp $1,270	-0.5pp $1,251	base $1,232	+0.5pp $1,213	+1.0pp $1,193

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	2.0	1	$2,166
Total (2 units)			$2,165

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: $18,750
• Closing costs: $2,250
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1806 N Peoria Ave Peoria, IL	4.0	1.5	1668	$894	$0.54	14d	1	0.26mi

Listing history 20 events

1. 2026-06-19
   days on market $75,000 Active 57 DOM
2. 2026-06-18
   days on market $75,000 Active 56 DOM
3. 2026-06-17
   days on market $75,000 Active 55 DOM
4. 2026-06-16
   days on market $75,000 Active 54 DOM
5. 2026-06-15
   days on market $75,000 Active 53 DOM
6. 2026-06-14
   days on market $75,000 Active 51 DOM
7. 2026-06-13
   days on market $75,000 Active 50 DOM
8. 2026-06-10
   days on market $75,000 Active 48 DOM
9. 2026-06-09
   days on market $75,000 Active 47 DOM
10. 2026-06-08
    days on market $75,000 Active 46 DOM
11. 2026-06-07
    days on market $75,000 Active 45 DOM
12. 2026-06-03
    days on market $75,000 Active 41 DOM
13. 2026-06-02
    pricedays on market $75,000 Active 40 DOM
14. 2026-06-01
    days on market $79,900 Active 39 DOM
15. 2026-05-31
    days on market $79,900 Active 38 DOM
16. 2026-05-30
    days on market $79,900 Active 37 DOM
17. 2026-04-27
    price $79,900
18. 2026-04-23
    listed $85,000 Active
19. 2021-08-06
    historical
20. 2009-12-01
    soldstatus $330,000

ⓘ 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: $642 · $54/mo
• Projected year-2 tax: $1,172 · $98/mo
• Expected delta: +$530/yr (+$44/mo · 82.5%)

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

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X · 75% 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: $25,980
• − Mortgage interest: −$4,201
• − Property taxes: −$642
• − Insurance: −$375
• − Repairs & maintenance: −$2,078
• − Management: −$2,078
• − Depreciation: −$2,182
• Taxable income: $14,423
• Est. tax owed @ 24.0%: −$3,462
• After-tax cash flow: $11,326/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

-75.8% since first listed

4 events — show timeline

• 2026-04-27 Price Changed $79,900 RMLSA as Distributed by MLS Grid
• 2026-04-23 Listed $85,000 RMLSA as Distributed by MLS Grid
• 2021-08-06 Listing Removed — RMLSA as Distributed by MLS Grid
• 2009-12-01 Sold (Public Records) $330,000 Public Records

Property tax history

+0.3%/yr

Latest (2024): $642 · +4.9% YoY. Source: county tax records.