805 NE Madison Ave · Peoria, IL 61603

$32,900

4 bd · 1.0 ba · 1,696 sqft · SingleFamily public records · 60 Days on market

Built 1900 5,227 sqft lot $19/sqft · 82% below area

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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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• 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

Great investment opportunity! This property offers strong potential for rental income, renovation, or resale. Whether you're looking to expand your portfolio or start investing, this home provides a solid foundation with value-add potential. Convenient location and endless possibilities make this a must-see for investors.

Key facts

• 5,227 sq ft lot
• 2 parking spots
• Built 1900

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $33k.

Deal economics

• At list price, monthly cash flow is $828 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $33k).
• Recommended offer: $32k (3.0% below list) — sets the bar for market timing.
• Cap rate 36.5% 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; 6 comparable units currently listed for rent nearby; rentals at typical pace (median 22d 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).
• This rent runs 40% of the median local income ($42k/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 $227 of loan paydown is wiped out by about $987 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 $9k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 60 days — a 3% lower offer ($32k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: property tax is 2.7% of price; built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $31,913 (3.0% below list)

Questions for the listing agent

1. It's been on market 60 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1900 — 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. 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: 4.19% ✓
• Cap rate: 36.48%
• Cash-on-cash: 107.81%
• DSCR: 5.80
• GRM: 2.0

CMA / ARV

• ARV (median comp): $102,250
• List price: $32,900
• Delta: -67.82%
• Verdict: UNDERPRICED
• Comps: 1 within 2.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
704 E Lasalle St	0.56mi	4/1.0	1,706 (+1%)	1mo	$41,000	$24	72
1116 NE Monroe St	0.29mi	4/2.0	1,846 (+9%)	2mo	$27,000	$15	66
1118 NE Adams St	0.36mi	3/2.0 (-1)	1,662 (-2%)	7mo	$71,000	$43	65
1621 NE Madison Ave	0.70mi	4/2.0	1,682 (-1%)	5mo	$38,806	$23	58
1501 NE Madison Ave	0.56mi	3/2.0 (-1)	1,576 (-7%)	1mo	$34,000	$22	52
1617 NE Madison Ave	0.69mi	3/1.0 (-1)	1,590 (-6%)	5mo	$24,694	$16	48
1616 NE Madison Ave	0.69mi	3/1.0 (-1)	1,584 (-7%)	5mo	$31,750	$20	48
1620 N Wisconsin Ave	0.52mi	3/1.5 (-1)	1,488 (-12%)	1mo	$90,000	$60	47
1633 N Peoria Ave	0.73mi	3/2.0 (-1)	1,610 (-5%)	6mo	$69,900	$43	44
1708 N Missouri Ave	0.70mi	4/2.0	1,858 (+10%)	8mo	$25,000	$13	41
1828 N Atlantic Ave	0.75mi	3/1.5 (-1)	1,604 (-5%)	10mo	$60,000	$37	40
707 E Ravine Ave	0.65mi	3/1.0 (-1)	1,476 (-13%)	7mo	$25,000	$17	38

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: —
• Equity multiple: 6.22×
• Total profit: $48,105
• Equity at exit: $4,905

10-year hold

• IRR: —
• Equity multiple: 13.24×
• Total profit: $112,765
• Equity at exit: $2,845

Cash invested: $9,212 (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: 2.0×

Monthly cashflow live

• Estimated rent: $1,379 high
• Mortgage (P&I): −$173
• Tax from tax record: −$75 /mo · $905/yr
• Insurance: −$14
• HOA: −$0
• Vacancy / Maint / Mgmt: −$290
• Net cashflow: $828

Break-even live

Break-even rent $331

Max offer price $32,900

Occupancy floor 35%

Sensitivity live

Price	-10% $846	-5% $837	+0% $828	+5% $818	+10% $809
Rent	-10% $719	-5% $773	+0% $828	+5% $882	+10% $937
Rate	-1.0pp $844	-0.5pp $836	base $828	+0.5pp $819	+1.0pp $810

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: $8,225
• Closing costs: $987
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
901 NE Glen Oak Ave Unit 2 Peoria, IL	3.0	1.0	1120	$1,200	$1.07	22d	1	0.43mi
1806 N Peoria Ave Peoria, IL	4.0	1.5	1668	$894	$0.54	14d	1	0.81mi
501 W Columbia Ter Unit 3 Peoria, IL	3.0	1.0	1500	$1,400	$0.93	44d	1	0.98mi
100 Walnut St Unit 402 Peoria, IL	3.0	2.0	1464	$2,400	$1.64	22d	1	1.04mi
2302 NE Monroe St Peoria, IL	3.0	1.0	1100	$875	$0.80	14d	1	1.24mi
308 E Archer Ave Peoria, IL	3.0	1.0	1444	$950	$0.66	14d	1	1.24mi

Listing history 18 events

1. 2026-06-19
   days on market $32,900 Active 60 DOM
2. 2026-06-18
   days on market $32,900 Active 59 DOM
3. 2026-06-17
   days on market $32,900 Active 58 DOM
4. 2026-06-16
   days on market $32,900 Active 57 DOM
5. 2026-06-15
   days on market $32,900 Active 56 DOM
6. 2026-06-14
   days on market $32,900 Active 54 DOM
7. 2026-06-13
   days on market $32,900 Active 53 DOM
8. 2026-06-10
   days on market $32,900 Active 51 DOM
9. 2026-06-09
   days on market $32,900 Active 50 DOM
10. 2026-06-08
    days on market $32,900 Active 49 DOM
11. 2026-06-07
    days on market $32,900 Active 48 DOM
12. 2026-06-03
    days on market $32,900 Active 44 DOM
13. 2026-06-02
    days on market $32,900 Active 43 DOM
14. 2026-06-01
    days on market $32,900 Active 42 DOM
15. 2026-05-31
    days on market $32,900 Active 41 DOM
16. 2026-05-30
    days on market $32,900 Active 40 DOM
17. 2026-04-20
    listed $32,900 Active 323-char remark

    Show marketing remark (323 chars)

    Great investment opportunity! This property offers strong potential for rental income, renovation, or resale. Whether you're looking to expand your portfolio or start investing, this home provides a solid foundation with value-add potential. Convenient location and endless possibilities make this a must-see for investors.

18. 2009-11-05
    soldstatus $131,000

ⓘ 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: $905 · $75/mo
• Projected year-2 tax: $905 · $75/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: $16,545
• − Mortgage interest: −$1,843
• − Property taxes: −$905
• − Insurance: −$164
• − Repairs & maintenance: −$1,324
• − Management: −$1,324
• − Depreciation: −$957
• Taxable income: $10,029
• Est. tax owed @ 24.0%: −$2,407
• After-tax cash flow: $7,524/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

-74.9% since first listed

2 events — show timeline

• 2026-04-20 Listed $32,900 RMLSA as Distributed by MLS Grid
• 2009-11-05 Sold (Public Records) $131,000 Public Records

Property tax history

+0.6%/yr

Latest (2024): $905 · +4.8% YoY. Source: county tax records.