401 W Nebraska St · Peoria, IL 61614

$110,000

2 bd · 1.0 ba · 780 sqft · SingleFamily public records · 19 Days on market

Built 1948 10,005 sqft lot $141/sqft · 71% above area Est $129k · 15% under

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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 +17.7/30.0
• ARV discount +14.0/15.0
• DSCR +5.5/10.0
• Rent growth +5.0/5.0
• 1% rule +4.3/10.0
• Livability +3.7/5.0
• Condition / age +2.5/5.0
• Schools +1.1/10.0
• Appreciation +0.0/10.0

Listing remarks

Step into this well maintained two bedroom, two bath home offering comfort, functionality, and major recent upgrades for peace of mind. The freshly finished basement provides valuable additional living space perfect for a family room, home office, or guest area. This home has been thoughtfully updated with big-ticket improvements already completed for you. In 2025, the entire property was upgraded with new PEX plumbing. A brand-new roof was installed in April and includes a 5-year warranty, adding both value and security. The electrical panel was replaced in 2024, ensuring modern reliability, and a new concrete driveway installed in 2023 enhances curb appeal and convenience. With its combin

Key facts

• New pex plumbing
• New electrical panel
• New roof

Tags

• FRESHLY FINISHED BASEMENT
• NEW PEX PLUMBING
• NEW ROOF
• NEW ELECTRICAL PANEL
• NEW CONCRETE DRIVEWAY

Property features AI

Exterior

• Parking: Detached 1-car garage
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Built in 1948
• Construction: Not new construction
• Exterior features: Shingle roof; Corner lot; Terraced/sloping lot

Interior

• Kitchen: Kitchen on main level
• Bedrooms: 2 bedrooms (Bedroom 1 on main level, Bedroom 2 on main level)
• Flooring: Hardwood in one bedroom and living room; Laminate flooring in kitchen and main-level bedroom; Carpet in basement family room
• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Finished full basement; Fireplaces: none
• Laundry & utility: Gas water heater

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $110k.

Deal economics

• At list price, monthly cash flow is $89 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $102k (7.4% below list).
• Recommended offer: $102k (7.4% below list) — sets the bar for 1% rule.
• Cap rate 7.3% 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 fast (+10.3%/yr); 150 active listings in the ZIP; 20 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 45% of comp listings sitting > 30 days — soft ceiling on asking rent; 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 $761 of loan paydown is wiped out by about $3k 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 + 8.0% rent growth), your $31k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 19 days — a 2% lower offer ($108k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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.

Risks & watch-outs

• Watch-outs: built in 1948 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $101,874 (7.4% below list)

Questions for the listing agent

1. Built in 1948 — 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: 0.93% ✗
• Cap rate: 7.26%
• Cash-on-cash: 3.46%
• DSCR: 1.15
• GRM: 9.0

CMA / ARV

• ARV (median comp): $128,678
• List price: $110,000
• Delta: -14.52%
• Verdict: UNDERPRICED
• Comps: 6 within 2.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2318 N Flora Ave	0.40mi	2/1.0	768 (-2%)	2mo	$90,000	$117	77
816 W Nowland Ave	0.51mi	2/1.0	792 (+2%)	4mo	$74,000	$93	71
2318 N Ellis St	0.42mi	2/1.0	842 (+8%)	3mo	$31,000	$37	65
2332 N Ellis St	0.45mi	2/1.0	840 (+8%)	2mo	$24,000	$29	65
2222 N Ellis St	0.34mi	2/1.0	704 (-10%)	4mo	$35,000	$50	64
929 W Brons Ave	0.55mi	2/1.0	736 (-6%)	2mo	$44,900	$61	63
812 W Macqueen Ave	0.54mi	2/1.0	822 (+5%)	7mo	$30,000	$36	60
910 W Virginia Ave	0.69mi	2/1.0	748 (-4%)	3mo	$60,000	$80	58
2124 N Bourland Ave	0.56mi	2/1.5	864 (+11%)	4mo	$83,500	$97	50
1214 W Brons Ave	0.69mi	2/1.0	864 (+11%)	2mo	$34,900	$40	48
716 E Kansas St	0.71mi	2/1.0	896 (+15%)	2mo	$26,666	$30	41
1131 W Nowland Ave	0.73mi	1/1.0 (-1)	880 (+13%)	0mo	$53,500	$61	39

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: -5.7%
• Equity multiple: 0.78×
• Total profit: $-6,798
• Equity at exit: $16,401

10-year hold

• IRR: 9.0%
• Equity multiple: 1.84×
• Total profit: $25,819
• Equity at exit: $9,511

Cash invested: $30,800 (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: 9.0×

Monthly cashflow live

• Estimated rent: $1,019 high
• Mortgage (P&I): −$577
• Tax from tax record: −$93 /mo · $1,120/yr
• Insurance: −$46
• HOA: −$0
• Vacancy / Maint / Mgmt: −$214
• Net cashflow: $89

Break-even live

Break-even rent $906

Max offer price $110,000

Occupancy floor 86%

Sensitivity live

Price	-10% $151	-5% $120	+0% $89	+5% $58	+10% $27
Rent	-10% $8	-5% $49	+0% $89	+5% $129	+10% $169
Rate	-1.0pp $144	-0.5pp $117	base $89	+0.5pp $60	+1.0pp $31

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: $27,500
• Closing costs: $3,300
• Reserves months: —
• Total cash needed: —

Rent comps 20 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2207 N Ellis St Peoria, IL	2.0	1.0	864	$999	$1.16	14d	1	0.30mi
903 W Brons Ave Peoria, IL	3.0	1.0	971	$995	$1.02	44d	1	0.48mi
905 W Thrush Ave Peoria, IL	2.0	1.0	750	$950	$1.27	22d	1	0.51mi
1505 N Peoria Ave Peoria, IL	1.0	1.0	525	$1,006	$1.92	14d	4	0.52mi
812 W Macqueen Ave Peoria, IL	2.0	1.0	822	$795	$0.97	44d	1	0.53mi
511 W Elizabeth St Unit A Peoria, IL	1.0	1.0	850	$800	$0.94	44d	1	0.62mi
2214 N Linsley St Peoria, IL	2.0	1.0	575	$550	$0.96	44d	1	0.62mi
1703 N Valley Ave Peoria, IL	2.0	1.0	676	$1,200	$1.78	14d	1	0.67mi
2023 N Underhill St Peoria, IL	3.0	1.0	1050	$1,200	$1.14	14d	1	0.67mi
901 NE Glen Oak Ave Unit 2 Peoria, IL	3.0	1.0	1120	$1,200	$1.07	22d	1	0.78mi
416 W Main St Unit A Peoria, IL	2.0	1.0	1050	$950	$0.90	44d	1	0.80mi
911 N Sheridan Rd Unit A4 Peoria, IL	2.0	1.0	825	$850	$1.03	44d	1	0.91mi
911 N Sheridan Rd Unit a1 Peoria, IL	2.0	1.0	825	$850	$1.03	14d	1	0.91mi
905 N Sheridan Rd Unit F Peoria, IL	1.0	1.0	650	$900	$1.38	44d	1	0.92mi
737 E Gift Ave Unit 737 Peoria, IL	2.0	1.0	800	$1,125	$1.41	44d	1	0.97mi
3108 N Parish Ave Peoria, IL	3.0	1.5	967	$1,750	$1.81	44d	1	1.13mi
2121 N Prospect Rd Peoria, IL	3.0	1.0	946	$802	$0.85	14d	1	1.13mi
123 SW Jefferson Ave Unit E6W Peoria, IL	2.0	1.0	868	$1,495	$1.72	22d	1	1.30mi
123 SW Jefferson Ave Unit E15SW Peoria, IL	2.0	2.0	1100	$1,750	$1.59	14d	1	1.30mi
506 Caroline St Unit B Peoria, IL	2.0	1.0	1000	$900	$0.90	14d	1	1.32mi

Listing history 20 events

1. 2026-06-19
   days on market $110,000 Active 19 DOM
2. 2026-06-18
   days on market $110,000 Active 18 DOM
3. 2026-06-17
   days on market $110,000 Active 17 DOM
4. 2026-06-16
   days on market $110,000 Active 16 DOM
5. 2026-06-15
   days on market $110,000 Active 15 DOM
6. 2026-06-14
   days on market $110,000 Active 13 DOM
7. 2026-06-13
   days on market $110,000 Active 12 DOM
8. 2026-06-10
   days on market $110,000 Active 10 DOM
9. 2026-06-09
   days on market $110,000 Active 9 DOM
10. 2026-06-08
    days on market $110,000 Active 8 DOM
11. 2026-06-07
    days on market $110,000 Active 7 DOM
12. 2026-06-03
    days on market $110,000 Active 3 DOM
13. 2026-06-02
    days on market $110,000 Active 2 DOM
14. 2026-05-31
    statusdays on marketlisting id $110,000 Active 1 DOM
15. 2026-05-15
    status Pending 848-char remark
16. 2026-05-06
    listed $110,000 Active 848-char remark
17. 2021-08-06
    historical
18. 2021-08-06
    historical
19. 2021-08-06
    historical
20. 2021-08-06
    historical

ⓘ 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: $1,120 · $93/mo
• Projected year-2 tax: $1,808 · $151/mo
• Expected delta: +$689/yr (+$57/mo · 61.5%)

ⓘ 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: $12,225
• − Mortgage interest: −$6,162
• − Property taxes: −$1,120
• − Insurance: −$550
• − Repairs & maintenance: −$978
• − Management: −$978
• − Depreciation: −$3,200
• Taxable loss: −$763
• Est. tax savings @ 24.0%: +$183
• After-tax cash flow: $1,249/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

8 events — show timeline

• 2026-05-31 Listed $110,000 RMLSA as Distributed by MLS Grid
• 2026-05-15 Pending — RMLSA as Distributed by MLS Grid
• 2026-05-14 Listing Removed — RMLSA as Distributed by MLS Grid
• 2026-05-06 Listed — RMLSA as Distributed by MLS Grid
• 2021-08-06 Listing Removed — RMLSA as Distributed by MLS Grid
• 2021-08-06 Listing Removed — RMLSA as Distributed by MLS Grid
• 2021-08-06 Listing Removed — RMLSA as Distributed by MLS Grid
• 2021-08-06 Listing Removed — RMLSA as Distributed by MLS Grid

Property tax history

-1.1%/yr

Latest (2025): $1,120 · +6.5% YoY. Source: county tax records.