721 W Loucks Ave · Peoria, IL 61604

$32,000

2 bd · 1.0 ba · 1,044 sqft · SingleFamily public records · 31 Days on market

Built 1935 1,306 sqft lot $31/sqft · 43% below area

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Why this score? — see what drove the B- 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
• ARV discount +7.5/15.0
• Livability +3.7/5.0
• Rent growth +3.1/5.0
• Condition / age +2.5/5.0
• Schools +1.1/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Unlock the potential in this 2-bedroom, 1-bath two-story home with a basement—an ideal addition to any investment portfolio. Perfectly situated in the heart of Peoria, this property offers convenient access to shopping, dining, medical facilities, and local entertainment. With a little vision and some updates, this home could truly shine—making it a fantastic opportunity for investors or buyers ready to create something special. SOLD AS-IS

Key facts

• Basement
• Heart of peoria
• Two story home

Tags

• TWO STORY HOME
• BASEMENT
• HEART OF PEORIA
• CONVENIENT ACCESS TO SHOPPING
• CONVENIENT ACCESS TO DINING

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $32k.

Deal economics

• At list price, monthly cash flow is $611 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $32k).
• Recommended offer: $31k (3.0% below list) — sets the bar for market timing.
• Cap rate 29.2% 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 (+2.3%/yr); 180 active listings in the ZIP; 27 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 44% 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 $221 of loan paydown is wiped out by about $960 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 $9k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 31 days — a 3% lower offer ($31k) 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 1935 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $31,040 (3.0% below list)

Questions for the listing agent

1. It's been on market 31 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 1935 — 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. 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.
7. 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.
8. 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: 3.34% ✓
• Cap rate: 29.21%
• Cash-on-cash: 81.84%
• DSCR: 4.64
• GRM: 2.5

CMA / ARV

• ARV (median comp): $81,524
• List price: $32,000
• Delta: -60.75%
• 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
617 W Hanssler Pl	0.07mi	3/1.0 (+1)	952 (-9%)	2mo	$65,000	$68	75
804 W Maywood Ave	0.19mi	3/1.0 (+1)	973 (-7%)	1mo	$134,000	$138	74
614 W Loucks Ave	0.12mi	3/1.0 (+1)	949 (-9%)	2mo	$38,500	$41	72
726 W Corrington Ave	0.12mi	3/1.0 (+1)	1,200 (+15%)	2mo	$79,900	$67	63
2211 N Ellis St	0.41mi	3/1.0 (+1)	1,127 (+8%)	1mo	$33,000	$29	62
1126 Thrush Ave	0.51mi	2/1.0	952 (-9%)	1mo	$62,500	$66	60
3120 N Linnhill Ct	0.59mi	2/1.0	962 (-8%)	0mo	$139,900	$145	59
1217 W Gilbert Ave	0.44mi	2/1.5	1,165 (+12%)	0mo	$95,000	$82	58
1419 W Margaret Ave	0.64mi	2/1.0	936 (-10%)	1mo	$113,000	$121	52
1514 W Margaret Ave	0.70mi	2/1.0	1,140 (+9%)	1mo	$122,250	$107	52
823 W Nowland Ave	0.31mi	3/2.0 (+1)	1,200 (+15%)	3mo	$86,500	$72	49
112 E Gift Ave	0.62mi	3/2.0 (+1)	971 (-7%)	2mo	$90,000	$93	49

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: 81.3%
• Equity multiple: 4.68×
• Total profit: $33,012
• Equity at exit: $4,771

10-year hold

• IRR: 84.5%
• Equity multiple: 9.47×
• Total profit: $75,934
• Equity at exit: $2,767

Cash invested: $8,960 (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: 2.5×

Monthly cashflow live

• Estimated rent: $1,069 high
• Mortgage (P&I): −$168
• Tax from tax record: −$52 /mo · $629/yr
• Insurance: −$13
• HOA: −$0
• Vacancy / Maint / Mgmt: −$225
• Net cashflow: $611

Break-even live

Break-even rent $296

Max offer price $32,000

Occupancy floor 38%

Sensitivity live

Price	-10% $629	-5% $620	+0% $611	+5% $602	+10% $593
Rent	-10% $527	-5% $569	+0% $611	+5% $653	+10% $696
Rate	-1.0pp $627	-0.5pp $619	base $611	+0.5pp $603	+1.0pp $594

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: $8,000
• Closing costs: $960
• Reserves months: —
• Total cash needed: —

Rent comps 27 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
814 W McClure Ave Peoria, IL	3.0	1.0	1148	$1,100	$0.96	45d	1	0.19mi
913 W McClure Ave Peoria, IL	3.0	1.0	1400	$1,200	$0.86	22d	1	0.23mi
812 W Macqueen Ave Peoria, IL	2.0	1.0	822	$795	$0.97	45d	1	0.24mi
905 W Thrush Ave Peoria, IL	2.0	1.0	750	$950	$1.27	22d	1	0.36mi
2207 N Ellis St Peoria, IL	2.0	1.0	864	$999	$1.16	14d	1	0.39mi
903 W Brons Ave Peoria, IL	3.0	1.0	971	$995	$1.02	45d	1	0.42mi
3108 N Parish Ave Peoria, IL	3.0	1.5	967	$1,750	$1.81	45d	1	0.47mi
1413 W Gilbert Ave Peoria, IL	2.0	2.0	1428	$1,500	$1.05	14d	1	0.61mi
2210 Knoxville Ave #2212 Peoria, IL	2.0	1.0	1284	$950	$0.74	45d	1	0.65mi
2023 N Underhill St Peoria, IL	3.0	1.0	1050	$1,200	$1.14	14d	1	0.65mi
308 E Archer Ave Peoria, IL	3.0	1.0	1444	$950	$0.66	14d	1	0.75mi
505 E Virginia Ave Peoria, IL	2.0	2.0	1204	$758	$0.63	14d	1	0.81mi
737 E Gift Ave Unit 737 Peoria, IL	2.0	1.0	800	$1,125	$1.41	45d	1	1.03mi
W Crestwood Dr Peoria, IL	1.0–2.0	1.0	800	$975	$1.22	14d	4	1.07mi
811 W Purtscher Dr Peoria, IL	3.0	1.0	864	$1,100	$1.27	45d	1	1.14mi
501 W Columbia Ter Unit 3 Peoria, IL	3.0	1.0	1500	$1,400	$0.93	45d	1	1.15mi
4020 N Bryer Pl Peoria, IL	2.0	1.0	720	$1,250	$1.74	22d	1	1.19mi
511 W Elizabeth St Unit A Peoria, IL	1.0	1.0	850	$800	$0.94	45d	1	1.23mi
4010 N Brandywine Dr Peoria, IL	1.0–2.0	1.0–2.0	797	$1,082	$1.36	14d	17	1.39mi
901 NE Glen Oak Ave Unit 2 Peoria, IL	3.0	1.0	1120	$1,200	$1.07	22d	1	1.40mi
2610 N Renwood Ave Peoria, IL	2.0	1.0	904	$1,300	$1.44	14d	1	1.40mi
416 W Main St Unit A Peoria, IL	2.0	1.0	1050	$950	$0.90	45d	1	1.43mi
2121 N Prospect Rd Peoria, IL	3.0	1.0	946	$802	$0.85	14d	1	1.46mi
126 E Lake Ave Peoria, IL	2.0	1.0	950	$1,050	$1.11	14d	9	1.47mi
3629 N Leroy Ave Unit A Peoria, IL	2.0	1.0	1000	$1,150	$1.15	45d	1	1.48mi
911 N Sheridan Rd Unit A4 Peoria, IL	2.0	1.0	825	$850	$1.03	45d	1	1.49mi
911 N Sheridan Rd Unit a1 Peoria, IL	2.0	1.0	825	$850	$1.03	14d	1	1.49mi

Listing history 7 events

1. 2026-06-19
   days on market $32,000 Active 31 DOM
2. 2026-06-18
   days on market $32,000 Active 30 DOM
3. 2026-06-17
   days on market $32,000 Active 29 DOM
4. 2026-06-16
   status $32,000 Active 28 DOM
5. 2026-05-01
   status Active 455-char remark

   Show marketing remark (455 chars)

   Unlock the potential in this 2-bedroom, 1-bath two-story home with a basement—an ideal addition to any investment portfolio. Perfectly situated in the heart of Peoria, this property offers convenient access to shopping, dining, medical facilities, and local entertainment. With a little vision and some updates, this home could truly shine—making it a fantastic opportunity for investors or buyers ready to create something special. SOLD AS-IS

6. 2026-04-16
   status Pending 455-char remark

   Show marketing remark (455 chars)

   Unlock the potential in this 2-bedroom, 1-bath two-story home with a basement—an ideal addition to any investment portfolio. Perfectly situated in the heart of Peoria, this property offers convenient access to shopping, dining, medical facilities, and local entertainment. With a little vision and some updates, this home could truly shine—making it a fantastic opportunity for investors or buyers ready to create something special. SOLD AS-IS

7. 2026-04-07
   listed $32,000 Active 455-char remark

   Show marketing remark (455 chars)

   Unlock the potential in this 2-bedroom, 1-bath two-story home with a basement—an ideal addition to any investment portfolio. Perfectly situated in the heart of Peoria, this property offers convenient access to shopping, dining, medical facilities, and local entertainment. With a little vision and some updates, this home could truly shine—making it a fantastic opportunity for investors or buyers ready to create something special. SOLD AS-IS

ⓘ 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: $629 · $52/mo
• Projected year-2 tax: $678 · $56/mo
• Expected delta: +$49/yr (+$4/mo · 7.8%)

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

Taxation est. · year 1

• Rental income: $12,830
• − Mortgage interest: −$1,792
• − Property taxes: −$629
• − Insurance: −$160
• − Repairs & maintenance: −$1,026
• − Management: −$1,026
• − Depreciation: −$931
• Taxable income: $7,265
• Est. tax owed @ 24.0%: −$1,744
• After-tax cash flow: $5,590/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

3 events — show timeline

• 2026-05-01 Relisted — RMLSA as Distributed by MLS Grid
• 2026-04-16 Pending — RMLSA as Distributed by MLS Grid
• 2026-04-07 Listed $32,000 RMLSA as Distributed by MLS Grid

Property tax history

-5.2%/yr

Latest (2024): $629 · -3.9% YoY. Source: county tax records.