5824 N Western Ave · Peoria, IL 61614

$140,000

3 bd · 1.0 ba · 1,008 sqft · SingleFamily public records · 3 Days on market

Built 1957 6,098 sqft lot Est $162k · 14% under

---

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).

• ARV discount +13.7/15.0
• Cash flow +11.2/30.0
• Rent growth +5.0/5.0
• 1% rule +3.9/10.0
• Livability +3.7/5.0
• DSCR +3.3/10.0
• Condition / age +2.5/5.0
• Schools +1.1/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

CHARMING, MOVE-IN READY, 3 BEDROOM RANCH! North Rolling Acres Subd. Nicely landscaped & close to everything! Very open kitchen-dining-living room area. Beautifully updated. Beautiful wood floors in bedrooms. Whole house fan. ALL APPLIANCES STAY! Carpeted lower level with potential 4th bedroom and ample storage! ROOF ONLY 6 YEARS OLD! Large, PRIVACY fenced-in back yard with play set! UPDATES INCLUDE HVAC, WATER HEATER & INSULATION!

Key facts

• Walkout basement
• Concrete patio
• Utility sink

Tags

• HARDWOOD FLOORS
• ACCENT WALL
• WALKOUT BASEMENT
• FENCED BACKYARD
• CONCRETE PATIO
• UTILITY SINK

Property features AI

Exterior

• Parking: Parking pad (no garage)
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Built in 1957
• Construction: Shingle roof; Not new construction
• Exterior features: Fenced yard; Level lot; Lot dimensions approximately 60 x 100

Interior

• Kitchen: Refrigerator; Microwave
• Bedrooms: 3 bedrooms (main level and additional levels; bedrooms have egress windows)
• Flooring: Hardwood in main-level bedrooms and living areas; Vinyl in dining room and kitchen; Carpet in basement family room
• Bathrooms: 1 full bathroom
• Heating & cooling: Central air; Gas water heater (heating-related equipment listed)
• Interior features: Cable available; Full basement with walk-out access; Walk-out basement
• Laundry & utility: Washer; Dryer; Gas water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $140k.

Deal economics

• At list price, monthly cash flow is $-55 ($-660/yr) — negative.
• To cash-flow at today's rent, offer at most $130k (6.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $125k (10.6% below list).
• Recommended offer: $125k (10.6% below list) — sets the bar for 1% rule.

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: Northmoor Primary School (math 27% / reading 32%, grade F, #658 of 2,056 statewide, top 35%, 343 students, 0% FRL); Richwoods High School (math 30% / reading 35%, grade F, #152 of 693 statewide, top 22%, 1,580 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.
• Zoned-school proficiency averages 31% at this address vs 12% district-wide (+18 pts) — the actual schools serving this property are materially stronger than the Peoria SD 150 average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: Rents rising fast (+10.3%/yr); 150 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals at typical pace (median 22d 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 $968 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

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 22y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $94k; 49% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1957 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $125,104 (10.6% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Built in 1957 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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?
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: 0.89% ✗
• Cap rate: 5.82%
• Cash-on-cash: -1.68%
• DSCR: 0.93
• GRM: 9.3

CMA / ARV

• ARV (on-the-fly): $162,288
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1827 W Winnebago Dr	0.07mi	3/1.0	960 (-5%)	2mo	$159,000	$166	88
5821 N Graceland Dr	0.02mi	3/1.5	936 (-7%)	4mo	$158,500	$169	82
5519 N Montello Dr	0.25mi	3/1.0	1,040 (+3%)	8mo	$145,000	$139	76
1914 W White Oak Dr	0.37mi	3/1.0	999 (-1%)	6mo	$122,000	$122	76
5435 N Longwood Dr	0.36mi	3/1.0	1,059 (+5%)	2mo	$165,000	$156	73
5312 N Arrow Dr	0.71mi	3/1.0	1,008 (0%)	2mo	$165,000	$164	66
5409 N Arrow Dr	0.69mi	3/1.5	996 (-1%)	0mo	$172,000	$173	64
5517 N Renwood Ave	0.48mi	3/1.0	936 (-7%)	3mo	$132,000	$141	64
5613 N Mar Vista Dr	0.58mi	3/1.0	936 (-7%)	1mo	$153,000	$163	60
5302 N Arrow Dr	0.72mi	3/1.0	1,022 (+1%)	6mo	$140,000	$137	59
1512 W Shenandoah Dr	0.58mi	3/1.5	912 (-10%)	9mo	$125,000	$137	48
2230 W Cindy Ln	0.57mi	3/2.0	864 (-14%)	2mo	$139,000	$161	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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: -13.2%
• Equity multiple: 0.50×
• Total profit: $-19,510
• Equity at exit: $20,874

10-year hold

• IRR: 2.6%
• Equity multiple: 1.23×
• Total profit: $8,861
• Equity at exit: $12,105

Cash invested: $39,200 (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 61614

• Home prices YoY: -29.1%
• Rents YoY: 10.3%
• Active inventory: 150
• Price-to-rent: 9.3×

Monthly cashflow live

• Estimated rent: $1,251 high
• Mortgage (P&I): −$734
• Tax from tax record: −$251 /mo · $3,009/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$263
• Net cashflow: $-55

Break-even live

Break-even rent $1,321

Max offer price $130,290

Occupancy floor 99%

Sensitivity live

Price	-10% $24	-5% $-15	+0% $-55	+5% $-95	+10% $-134
Rent	-10% $-154	-5% $-104	+0% $-55	+5% $-6	+10% $44
Rate	-1.0pp $16	-0.5pp $-19	base $-55	+0.5pp $-91	+1.0pp $-128

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: $35,000
• Closing costs: $4,200
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6500 N University St Peoria, IL	2.0	1.0–1.5	722	$1,210	$1.67	14d	23	0.73mi
2020 W Glen Ave Peoria, IL	3.0	2.0	1320	$1,700	$1.29	14d	1	0.86mi
2800 W War Memorial Dr Peoria, IL	2.0	1.5	950	$949	$1.00	14d	3	0.88mi
2913 W Cannes Dr Unit C Peoria, IL	2.0	2.0	884	$1,150	$1.30	44d	1	0.93mi
1415 W Teton Dr Unit 6 Peoria, IL	2.0	1.0	810	$1,200	$1.48	44d	1	0.95mi
1327 W Covington Ct Peoria, IL	2.0	2.0	1025	$1,295	$1.26	44d	1	0.97mi
2979 W Cannes Dr Peoria, IL	1.0–2.0	1.0–1.5	800	$1,150	$1.44	14d	1	0.99mi
1915 W Marlene Ave Unit B Peoria, IL	2.0	1.5	1200	$1,275	$1.06	21d	1	1.00mi
1308 W Covington Ct Peoria, IL	2.0	1.5	975	$1,170	$1.20	21d	1	1.03mi
622 W Laclaire Ln Unit 622 Peoria, IL	2.0	1.0	900	$1,210	$1.34	44d	1	1.10mi
751 W Joan Ct Peoria, IL	2.0	2.0	1000	$1,150	$1.15	14d	1	1.30mi

Listing history 11 events

1. 2026-05-21
   listed $140,000 Active
2. 2021-08-06
   historical
3. 2018-07-02
   soldstatus $94,000
4. 2018-06-29
   soldstatus $94,000 442-char remark

   Show marketing remark (442 chars)

   CHARMING, MOVE-IN READY, 3 BEDROOM RANCH! North Rolling Acres Subd. Nicely landscaped & close to everything! Very open kitchen-dining-living room area. Beautifully updated. Beautiful wood floors in bedrooms. Whole house fan. ALL APPLIANCES STAY! Carpeted lower level with potential 4th bedroom and ample storage! ROOF ONLY 6 YEARS OLD! Large, PRIVACY fenced-in back yard with play set! UPDATES INCLUDE HVAC, WATER HEATER & INSULATION!

5. 2018-04-26
   listed $94,900 442-char remark

   Show marketing remark (442 chars)

   CHARMING, MOVE-IN READY, 3 BEDROOM RANCH! North Rolling Acres Subd. Nicely landscaped & close to everything! Very open kitchen-dining-living room area. Beautifully updated. Beautiful wood floors in bedrooms. Whole house fan. ALL APPLIANCES STAY! Carpeted lower level with potential 4th bedroom and ample storage! ROOF ONLY 6 YEARS OLD! Large, PRIVACY fenced-in back yard with play set! UPDATES INCLUDE HVAC, WATER HEATER & INSULATION!

6. 2017-03-01
   soldstatus $86,500
7. 2017-02-28
   soldstatus $86,500
8. 2016-10-16
   listed $89,900
9. 2004-06-07
   soldstatus $103,000
10. 2004-04-27
    listed $102,900
11. 2003-05-28
    soldstatus $89,000

ⓘ 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: $3,009 · $251/mo
• Projected year-2 tax: $3,094 · $258/mo
• Expected delta: +$84/yr (+$7/mo · 2.8%)

ⓘ 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 ≥104°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 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,012
• − Mortgage interest: −$7,842
• − Property taxes: −$3,009
• − Insurance: −$700
• − Repairs & maintenance: −$1,201
• − Management: −$1,201
• − Depreciation: −$4,073
• Taxable loss: −$3,014
• Est. tax savings @ 24.0%: +$723
• After-tax cash flow: $64/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): 27,370
• Household income: $66,924
• Rent vs Own: 35.8% rent · 64.2% own
• Severe rent burden: 1179.0

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: Predominantly White (70%)
• Race & ethnicity: White 70% Black 17% Two or more races 5% Asian 5% Hispanic / Latino 5%
• Common ancestry: Romanian 2% Lithuanian 2% Italian 2%
• Foreign-born: 9% · Canada, South Korea, China
• Languages at home: 92% English-only · Spanish 2% Other Asian/Pacific 2% Other Indo-European 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: ▼ -76.07%
• Current HPI: 185.122
• Rent YoY: ▲ 10.35%
• 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

+57.3% since first listed

11 events — show timeline

• 2026-05-21 Listed $140,000 RMLSA as Distributed by MLS Grid
• 2021-08-06 Listing Removed — RMLSA as Distributed by MLS Grid
• 2018-07-02 Sold (Public Records) $94,000 Public Records
• 2018-06-29 Sold (MLS) $94,000 RMLSA as Distributed by MLS Grid
• 2018-04-26 Listed $94,900 RMLSA as Distributed by MLS Grid
• 2017-03-01 Sold (Public Records) $86,500 Public Records
• 2017-02-28 Sold (MLS) $86,500 RMLSA as Distributed by MLS Grid
• 2016-10-16 Listed $89,900 RMLSA as Distributed by MLS Grid
• 2004-06-07 Sold (MLS) $103,000 RMLSA as Distributed by MLS Grid
• 2004-04-27 Listed $102,900 RMLSA as Distributed by MLS Grid
• 2003-05-28 Sold (Public Records) $89,000 Public Records

Property tax history

+2.5%/yr

Latest (2024): $3,009 · +6.5% YoY. Source: county tax records.