611 Haungs Ave · Peoria, IL 61603

$20,000

2 bd · 1.0 ba · 967 sqft · SingleFamily public records · 232 Days on market

Built 1900 4,199 sqft lot $21/sqft · 33% below area Est $30k · 33% 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 +15.0/30.0
• ARV discount +15.0/15.0
• 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

Investor special! 2 beds, 1 bath home ready for renovation. Great opportunity to add value and build equity, bring your ideas and make it your next project!

Key facts

• 4,199 sq ft lot
• Built 1900
• Listed 232 days

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $20k.

Deal economics

• At list price, monthly cash flow is $580 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($956 rent vs $20k).
• Recommended offer: $18k (12.0% below list) — sets the bar for market timing.
• Cap rate 41.1% 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: Lincoln School (math 0% / reading 2%, grade F, #2,052 of 2,056 statewide, top 100%, 727 students, 0% FRL); Reservoir Gifted School (math 79% / reading 82%, grade A+, #2 of 665 statewide, top 0%, 277 students, 0% FRL); 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.
• Zoned-school proficiency averages 29% at this address vs 12% district-wide (+17 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 (+3.5%/yr); 104 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 15d 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $138 of loan paydown is wiped out by about $600 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 $6k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 232 days — a 12% lower offer ($18k) is reasonable based on typical stale-listing flexibility.
• 10 sale attempts since 5y ago; this cycle's ask has dropped $5k (20%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: property tax is 3.7% of price; built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $17,600 (12.0% below list)

Questions for the listing agent

1. It's been on market 232 days. Have you received any prior offers? Is the seller open to a 12% 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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 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: 4.78% ✓
• Cap rate: 41.09%
• Cash-on-cash: 124.29%
• DSCR: 6.53
• GRM: 1.7

CMA / ARV

• ARV (median comp): $29,789
• List price: $20,000
• Delta: -33.20%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
632 Haungs Ave	0.05mi	2/1.5	1,005 (+4%)	1mo	$29,900	$30	88
223 NE Rock Island Ave	0.18mi	2/1.0	984 (+2%)	0mo	$25,000	$25	88
2806 NE Madison Ave	0.14mi	2/2.0	976 (+1%)	3mo	$24,000	$25	86
600 Spitznagle Ave	0.04mi	2/1.0	924 (-4%)	10mo	$37,000	$40	82
2507 NE Madison Ave	0.13mi	3/1.0 (+1)	1,000 (+3%)	3mo	$24,000	$24	81
2918 NE Madison Ave	0.22mi	2/1.0	944 (-2%)	11mo	$28,500	$30	77
516 Phelps St	0.29mi	2/1.0	960 (-1%)	11mo	$28,000	$29	76
3310 NE Madison Ave	0.46mi	2/1.0	970 (+0%)	5mo	$31,000	$32	74
515 Harvard St	0.74mi	2/1.0	858 (-11%)	6mo	$26,000	$30	42
2204 N Atlantic Ave	0.73mi	1/1.0 (-1)	912 (-6%)	12mo	$35,000	$38	42
1619 NE Glendale Ave	0.71mi	2/1.0	1,098 (+14%)	5mo	$45,000	$41	40
1622 NE Jefferson St	0.74mi	2/1.5	837 (-13%)	7mo	$26,000	$31	35

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: 7.11×
• Total profit: $34,210
• Equity at exit: $2,982

10-year hold

• IRR: —
• Equity multiple: 15.19×
• Total profit: $79,469
• Equity at exit: $1,729

Cash invested: $5,600 (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: 1.7×

Monthly cashflow live

• Estimated rent: $956 high
• Mortgage (P&I): −$105
• Tax from tax record: −$62 /mo · $740/yr
• Insurance: −$8
• HOA: −$0
• Vacancy / Maint / Mgmt: −$201
• Net cashflow: $580

Break-even live

Break-even rent $221

Max offer price $20,000

Occupancy floor 34%

Sensitivity live

Price	-10% $591	-5% $586	+0% $580	+5% $574	+10% $569
Rent	-10% $505	-5% $542	+0% $580	+5% $618	+10% $655
Rate	-1.0pp $590	-0.5pp $585	base $580	+0.5pp $575	+1.0pp $570

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: $5,000
• Closing costs: $600
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2302 NE Monroe St Peoria, IL	3.0	1.0	1100	$875	$0.80	15d	1	0.19mi
2121 N Prospect Rd Peoria, IL	3.0	1.0	946	$802	$0.85	15d	1	0.66mi
506 Caroline St Unit B Peoria, IL	2.0	1.0	1000	$900	$0.90	15d	1	0.82mi
737 E Gift Ave Unit 737 Peoria, IL	2.0	1.0	800	$1,125	$1.41	45d	1	1.09mi
901 NE Glen Oak Ave Unit 2 Peoria, IL	3.0	1.0	1120	$1,200	$1.07	22d	1	1.32mi

Listing history 46 events

1. 2026-06-22
   remarks 584-char remark
2. 2026-06-22
   pricedays on marketlisting id $20,000 Active 232 DOM
3. 2026-06-19
   days on market $19,900 Active 91 DOM
4. 2026-06-18
   days on market $19,900 Active 90 DOM
5. 2026-06-17
   days on market $19,900 Active 89 DOM
6. 2026-06-16
   days on market $19,900 Active 88 DOM
7. 2026-06-15
   days on market $19,900 Active 87 DOM
8. 2026-06-14
   days on market $19,900 Active 85 DOM
9. 2026-06-13
   days on market $19,900 Active 84 DOM
10. 2026-06-10
    days on market $19,900 Active 82 DOM
11. 2026-06-09
    days on market $19,900 Active 81 DOM
12. 2026-06-08
    days on market $19,900 Active 80 DOM
13. 2026-06-07
    days on market $19,900 Active 79 DOM
14. 2026-06-03
    days on market $19,900 Active 75 DOM
15. 2026-06-02
    days on market $19,900 Active 74 DOM
16. 2026-06-01
    days on market $19,900 Active 73 DOM
17. 2026-05-31
    days on market $19,900 Active 72 DOM
18. 2026-05-30
    days on market $19,900 Active 71 DOM
19. 2026-05-04
    price $19,900 156-char remark

    Show marketing remark (156 chars)

    Investor special! 2 beds, 1 bath home ready for renovation. Great opportunity to add value and build equity, bring your ideas and make it your next project!

20. 2026-03-20
    listed $25,000 Active 156-char remark

    Show marketing remark (156 chars)

    Investor special! 2 beds, 1 bath home ready for renovation. Great opportunity to add value and build equity, bring your ideas and make it your next project!

21. 2025-11-07
    status Active 584-char remark

    Show marketing remark (584 chars)

    Investment Opportunity Alert! Check out this fantastic property! This 2 bed, 1 bath home offers an 967 sqft and is just waiting for your personal touch. While it needs some TLC, its priced to sell fast, making it a perfect candidate for a fix and flip or a project home! Dont Miss Out! With plenty of potential, this home is ready for your creative vision! Location: Peoria IL 61603 Opportunity: Unlimited! For more details or to schedule a viewing, contact: Joan Olson: 727-263-3034 | [email protected] Cash buyers only $500.00 EMD 7 day inspection 30 days to close

22. 2025-11-07
    price $20,000 584-char remark

    Show marketing remark (584 chars)

    Investment Opportunity Alert! Check out this fantastic property! This 2 bed, 1 bath home offers an 967 sqft and is just waiting for your personal touch. While it needs some TLC, its priced to sell fast, making it a perfect candidate for a fix and flip or a project home! Dont Miss Out! With plenty of potential, this home is ready for your creative vision! Location: Peoria IL 61603 Opportunity: Unlimited! For more details or to schedule a viewing, contact: Joan Olson: 727-263-3034 | [email protected] Cash buyers only $500.00 EMD 7 day inspection 30 days to close

23. 2025-10-16
    historical 584-char remark

    Show marketing remark (584 chars)

    Investment Opportunity Alert! Check out this fantastic property! This 2 bed, 1 bath home offers an 967 sqft and is just waiting for your personal touch. While it needs some TLC, its priced to sell fast, making it a perfect candidate for a fix and flip or a project home! Dont Miss Out! With plenty of potential, this home is ready for your creative vision! Location: Peoria IL 61603 Opportunity: Unlimited! For more details or to schedule a viewing, contact: Joan Olson: 727-263-3034 | [email protected] Cash buyers only $500.00 EMD 7 day inspection 30 days to close

24. 2025-10-10
    listed $25,000 Active 584-char remark

    Show marketing remark (584 chars)

    Investment Opportunity Alert! Check out this fantastic property! This 2 bed, 1 bath home offers an 967 sqft and is just waiting for your personal touch. While it needs some TLC, its priced to sell fast, making it a perfect candidate for a fix and flip or a project home! Dont Miss Out! With plenty of potential, this home is ready for your creative vision! Location: Peoria IL 61603 Opportunity: Unlimited! For more details or to schedule a viewing, contact: Joan Olson: 727-263-3034 | [email protected] Cash buyers only $500.00 EMD 7 day inspection 30 days to close

25. 2025-06-29
    historical $595
26. 2025-05-20
    listed $595
27. 2025-05-16
    historical $595
28. 2025-05-01
    listed $595
29. 2025-02-25
    historical
30. 2024-09-16
    price
31. 2024-09-10
    price
32. 2024-09-10
    listed Active
33. 2023-10-06
    historical
34. 2023-09-29
    listed
35. 2023-09-22
    historical
36. 2023-09-20
    listed
37. 2023-08-30
    historical
38. 2023-08-24
    historical
39. 2023-05-08
    listed Active
40. 2021-08-06
    historical
41. 2021-08-06
    historical
42. 2021-04-20
    soldstatus $2,792,500
43. 2021-04-16
    soldstatus $27,925
44. 2021-04-14
    listed $27,925
45. 2008-11-10
    soldstatus $283,500
46. 1998-10-09
    soldstatus $14,000

ⓘ 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: $740 · $62/mo
• Projected year-2 tax: $740 · $62/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 4/10 Moderate FEMA zone X · 20% 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: $11,466
• − Mortgage interest: −$1,120
• − Property taxes: −$740
• − Insurance: −$100
• − Repairs & maintenance: −$917
• − Management: −$917
• − Depreciation: −$582
• Taxable income: $7,090
• Est. tax owed @ 24.0%: −$1,702
• After-tax cash flow: $5,258/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

+42.1% since first listed

28 events — show timeline

• 2026-05-04 Price Changed $19,900 RMLSA as Distributed by MLS Grid
• 2026-03-20 Listed $25,000 RMLSA as Distributed by MLS Grid
• 2025-11-07 Relisted — ForSaleByOwner.com
• 2025-11-07 Price Changed $20,000 ForSaleByOwner.com
• 2025-10-16 Delisted — ForSaleByOwner.com
• 2025-10-10 Listed $25,000 ForSaleByOwner.com
• 2025-06-29 Rental Removed $595 Hemlane
• 2025-05-20 Listed for Rent $595 Hemlane
• 2025-05-16 Rental Removed $595 Hemlane
• 2025-05-01 Listed for Rent $595 Hemlane
• 2025-02-25 Listing Removed — RMLSA as Distributed by MLS Grid
• 2024-09-16 Price Changed — RMLSA as Distributed by MLS Grid
• 2024-09-10 Price Changed — RMLSA as Distributed by MLS Grid
• 2024-09-10 Listed — RMLSA as Distributed by MLS Grid
• 2023-10-06 Rental Removed — APPFOLIO
• 2023-09-29 Listed for Rent — APPFOLIO
• 2023-09-22 Rental Removed — APPFOLIO
• 2023-09-20 Listed for Rent — APPFOLIO
• 2023-08-30 Listing Removed — RMLSA as Distributed by MLS Grid
• 2023-08-24 Rental Removed — APPFOLIO
• 2023-05-08 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
• 2021-04-20 Sold (Public Records) $2,792,500 Public Records
• 2021-04-16 Sold (MLS) $27,925 RMLSA as Distributed by MLS Grid
• 2021-04-14 Listed $27,925 RMLSA as Distributed by MLS Grid
• 2008-11-10 Sold (Public Records) $283,500 Public Records
• 1998-10-09 Sold (Public Records) $14,000 Public Records

Property tax history

+0.7%/yr

Latest (2024): $740 · +4.9% YoY. Source: county tax records.