3325 N Leroy Ave · Peoria, IL 61604

$70,000

3 bd · 1.0 ba · 1,020 sqft · SingleFamily public records · 78 Days on market

Built 1937 6,600 sqft lot $69/sqft · at area comps Est $73k · at est.

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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 +9.3/15.0
• 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

Great investment opportunity! This property must be purchased as part of a 3 pack along with 820 W Virginia Ave, Peoria IL PA1265327 and 2317 W Hudson St, Peoria IL PA1265326. See associated docs for rental information.

Key facts

• 6,600 sq ft lot
• Built 1937
• Listed 77 days

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $70k.

Deal economics

• At list price, monthly cash flow is $409 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $70k).
• Recommended offer: $66k (6.0% below list) — sets the bar for market timing.
• Cap rate 13.3% 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+, 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 21d 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 $484 of loan paydown is wiped out by about $2k 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 $20k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 78 days — a 6% lower offer ($66k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 10y ago; this cycle's ask has dropped $22k (24%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1937 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $65,800 (6.0% below list)

Questions for the listing agent

1. It's been on market 78 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1937 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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. 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: 1.68% ✓
• Cap rate: 13.30%
• Cash-on-cash: 25.02%
• DSCR: 2.11
• GRM: 5.0

CMA / ARV

• ARV (median comp): $72,961
• List price: $70,000
• Delta: -4.06%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2226 W Albany Ave	0.11mi	3/1.0	1,091 (+7%)	11mo	$125,222	$115	74
3510 N Elmcroft Ter	0.29mi	3/1.0	1,092 (+7%)	1mo	$136,000	$125	74
3131 N Western Ave	0.41mi	3/1.5	1,056 (+4%)	4mo	$94,900	$90	70
3023 N Golf Dr	0.25mi	2/1.0 (-1)	954 (-6%)	4mo	$79,000	$83	69
4011 N Sterling Ave	0.57mi	3/1.5	1,040 (+2%)	5mo	$105,000	$101	64
2530 N Victoria Ave	0.62mi	3/2.0	1,040 (+2%)	3mo	$119,500	$115	62
2227 W Westport Rd	0.59mi	3/1.0	1,056 (+4%)	10mo	$140,000	$133	58
2033 W Forrest Hill Ave	0.27mi	2/1.0 (-1)	912 (-11%)	10mo	$79,900	$88	56
2214 W Overbrook Dr	0.46mi	3/1.0	1,152 (+13%)	2mo	$140,000	$122	55
2916 N Golf Dr	0.37mi	3/1.0	1,152 (+13%)	10mo	$113,900	$99	52
2829 N Harper Ter	0.48mi	3/1.0	1,170 (+15%)	8mo	$97,000	$83	47
2021 W Newman Pkwy	0.70mi	3/1.0	1,118 (+10%)	8mo	$159,900	$143	45

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: 17.7%
• Equity multiple: 1.71×
• Total profit: $13,905
• Equity at exit: $10,437

10-year hold

• IRR: 25.7%
• Equity multiple: 3.17×
• Total profit: $42,463
• Equity at exit: $6,052

Cash invested: $19,600 (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 61604

• Home prices YoY: -24.6%
• Rents YoY: 2.3%
• Active inventory: 180
• Price-to-rent: 5.0×

Monthly cashflow live

• Estimated rent: $1,176 high
• Mortgage (P&I): −$367
• Tax from tax record: −$124 /mo · $1,489/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$247
• Net cashflow: $409

Break-even live

Break-even rent $659

Max offer price $70,000

Occupancy floor 60%

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: $17,500
• Closing costs: $2,100
• Reserves months: —
• Total cash needed: —

Rent comps 27 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3629 N Leroy Ave Unit A Peoria, IL	2.0	1.0	1000	$1,150	$1.15	43d	1	0.31mi
2920 N Rockwood Dr Apt B Peoria, IL	2.0	1.0	800	$895	$1.12	13d	1	0.33mi
2511 W Wardcliffe Dr Unit H Peoria, IL	2.0	1.0	800	$875	$1.09	43d	1	0.33mi
2700 W Forrest Hill Ave Peoria, IL	2.0	1.0	850	$850	$1.00	43d	1	0.34mi
2610 N Renwood Ave Peoria, IL	2.0	1.0	904	$1,300	$1.44	13d	1	0.58mi
3601 N Kingston Dr Peoria, IL	2.0	2.0	1030	$1,420	$1.38	13d	3	0.63mi
2805 W Larchmont Ln Peoria, IL	1.0–2.0	1.0	695	$1,060	$1.53	13d	3	0.71mi
4010 N Brandywine Dr Peoria, IL	1.0–2.0	1.0–2.0	797	$1,082	$1.36	13d	17	0.80mi
1413 W Gilbert Ave Peoria, IL	2.0	2.0	1428	$1,500	$1.05	13d	1	0.87mi
3444 W Dorchester Rdg Peoria, IL	2.0	2.0	1089	$1,275	$1.17	13d	1	1.01mi
3438 W Villa Rdg Unit A Peoria, IL	2.0	1.5	874	$1,200	$1.37	21d	1	1.02mi
3108 N Parish Ave Peoria, IL	3.0	1.5	967	$1,750	$1.81	43d	1	1.10mi
2600 N Lavalle Ct Peoria, IL	1.0–3.0	1.0–2.0	803	$1,150	$1.43	13d	26	1.15mi
1915 W Marlene Ave Unit B Peoria, IL	2.0	1.5	1200	$1,275	$1.06	21d	1	1.20mi
4020 N Bryer Pl Peoria, IL	2.0	1.0	720	$1,250	$1.74	21d	1	1.29mi
1801 N Gentry Ln West Peoria, IL	3.0	1.0	1000	$1,650	$1.65	13d	1	1.32mi
2020 W Glen Ave Peoria, IL	3.0	2.0	1320	$1,700	$1.29	13d	1	1.34mi
2109 N Abbey Cir Peoria, IL	3.0	2.0	1088	$1,009	$0.93	13d	1	1.36mi
913 W McClure Ave Peoria, IL	3.0	1.0	1400	$1,200	$0.86	21d	1	1.37mi
W Crestwood Dr Peoria, IL	1.0–2.0	1.0	800	$975	$1.22	13d	4	1.42mi
811 W Purtscher Dr Peoria, IL	3.0	1.0	864	$1,100	$1.27	43d	1	1.43mi
2023 N Underhill St Peoria, IL	3.0	1.0	1050	$1,200	$1.14	13d	1	1.43mi
814 W McClure Ave Peoria, IL	3.0	1.0	1148	$1,100	$0.96	43d	1	1.46mi
1308 W Covington Ct Peoria, IL	2.0	1.5	975	$1,170	$1.20	21d	1	1.49mi
905 W Thrush Ave Peoria, IL	2.0	1.0	750	$950	$1.27	21d	1	1.49mi
812 W Macqueen Ave Peoria, IL	2.0	1.0	822	$795	$0.97	43d	1	1.50mi
1327 W Covington Ct Peoria, IL	2.0	2.0	1025	$1,295	$1.26	43d	1	1.50mi

Listing history 24 events

1. 2026-06-19
   days on market $70,000 Active 78 DOM
2. 2026-06-18
   pricedays on market $70,000 Active 77 DOM
3. 2026-06-17
   days on market $75,000 Active 76 DOM
4. 2026-06-16
   days on market $75,000 Active 75 DOM
5. 2026-06-15
   days on market $75,000 Active 74 DOM
6. 2026-06-14
   days on market $75,000 Active 72 DOM
7. 2026-06-13
   days on market $75,000 Active 71 DOM
8. 2026-06-10
   days on market $75,000 Active 69 DOM
9. 2026-06-09
   days on market $75,000 Active 68 DOM
10. 2026-06-08
    days on market $75,000 Active 67 DOM
11. 2026-06-07
    days on market $75,000 Active 66 DOM
12. 2026-06-03
    days on market $75,000 Active 62 DOM
13. 2026-06-02
    days on market $75,000 Active 61 DOM
14. 2026-06-01
    days on market $75,000 Active 60 DOM
15. 2026-05-31
    days on market $75,000 Active 59 DOM
16. 2026-05-30
    days on market $75,000 Active 58 DOM
17. 2026-05-18
    price $75,000 219-char remark

    Show marketing remark (219 chars)

    Great investment opportunity! This property must be purchased as part of a 3 pack along with 820 W Virginia Ave, Peoria IL PA1265327 and 2317 W Hudson St, Peoria IL PA1265326. See associated docs for rental information.

18. 2026-04-10
    price $83,333 219-char remark

    Show marketing remark (219 chars)

    Great investment opportunity! This property must be purchased as part of a 3 pack along with 820 W Virginia Ave, Peoria IL PA1265327 and 2317 W Hudson St, Peoria IL PA1265326. See associated docs for rental information.

19. 2026-04-02
    listed $91,667 Active 219-char remark

    Show marketing remark (219 chars)

    Great investment opportunity! This property must be purchased as part of a 3 pack along with 820 W Virginia Ave, Peoria IL PA1265327 and 2317 W Hudson St, Peoria IL PA1265326. See associated docs for rental information.

20. 2023-06-26
    soldstatus $143,370
21. 2023-06-23
    soldstatus $44,000 22-char remark

    Show marketing remark (22 chars)

    SOLD ON ONE TIME SHOW.

22. 2023-05-24
    listed $44,000 22-char remark

    Show marketing remark (22 chars)

    SOLD ON ONE TIME SHOW.

23. 2017-04-05
    soldstatus $33,000
24. 2016-11-03
    listed $42,900

ⓘ 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: $1,489 · $124/mo
• Projected year-2 tax: $1,539 · $128/mo
• Expected delta: +$50/yr (+$4/mo · 3.4%)

ⓘ 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: $14,112
• − Mortgage interest: −$3,921
• − Property taxes: −$1,489
• − Insurance: −$350
• − Repairs & maintenance: −$1,129
• − Management: −$1,129
• − Depreciation: −$2,036
• Taxable income: $4,058
• Est. tax owed @ 24.0%: −$974
• After-tax cash flow: $3,931/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
• 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

+74.8% since first listed

8 events — show timeline

• 2026-05-18 Price Changed $75,000 RMLSA as Distributed by MLS Grid
• 2026-04-10 Price Changed $83,333 RMLSA as Distributed by MLS Grid
• 2026-04-02 Listed $91,667 RMLSA as Distributed by MLS Grid
• 2023-06-26 Sold (Public Records) $143,370 Public Records
• 2023-06-23 Sold (MLS) $44,000 RMLSA as Distributed by MLS Grid
• 2023-05-24 Listed $44,000 RMLSA as Distributed by MLS Grid
• 2017-04-05 Sold (MLS) $33,000 RMLSA as Distributed by MLS Grid
• 2016-11-03 Listed $42,900 RMLSA as Distributed by MLS Grid

Property tax history

+31.4%/yr

Latest (2024): $1,489 · +4.8% YoY. Source: county tax records.