3507 W Queen Ann Ct · Peoria, IL 61615

$139,900

3 bd · 1.5 ba · 930 sqft · SingleFamily public records · 31 Days on market

Built 1940 0.43 ac lot Est $108k · 30% over

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Why this score? — see what drove the F 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 +15.6/30.0
• DSCR +4.8/10.0
• 1% rule +4.7/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.1/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

JUST LISTED 3 BEDROOM WALK-OUT RANCH. APPRECIATE THE PRIDE OF OWNERSHIP IN THIS WELL MAINTAINED RANCH. FALL IN LOVE WITH HUGE MASTER BEDROOM WITH VAULTED CEILING. THE SECOND BEDROOM IS ADORABLE WITH BUILT-IN SHELVES, VAULTED CEILING AND A STORY BOOK FEEL. ENJOY A PRIVATE BACKYARD SETTING WITH A BRICK PATIO. OWNER HAS UPDATED THE BATHROOM WITH NEW SUBWAY TILE FLOORING, VANITY AND MORE! WINDOWS NEW IN 2015. DON'T MISS OUT ON THIS GREAT VALUE UNDER $9O,000!

Key facts

• 0.43 acre lot
• Garage
• Built 1940

Property features AI

Finance

• Other: Zoned RES; Lot dimensions approximately 150 x 120

Exterior

• Parking: Attached garage (1 car); On-street parking available
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Built in 1940; 930 building area total
• Construction: Shingle roof; Not new construction
• Exterior features: Level, wooded lot; Paved road access; Shingle roof

Interior

• Kitchen: Refrigerator
• Bedrooms: 3 bedrooms (bedrooms located on main level)
• Flooring: Laminate flooring throughout main living areas and bedrooms
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Central air; Forced air heating; Gas water heater
• Interior features: Cable available; Ceiling fan(s)

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $140k.

Deal economics

• At list price, monthly cash flow is $59 ($703/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 $135k (3.4% below list).
• Recommended offer: $135k (3.4% below list) — sets the bar for 1% rule.
• Cap rate 6.8% vs local median 5.5% in Peoria — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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: Valeska Hinton Early Ch Ed Ctr (495 students, 0% FRL); Sterling Middle School (math 0% / reading 4%, grade F, #664 of 665 statewide, top 100%, 385 students, 0% FRL); Richwoods High School (math 30% / reading 35%, grade F, #152 of 693 statewide, top 22%, 1,580 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: 130 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 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 $967 of loan paydown is wiped out by about $4k 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.

Negotiation context

• It's been on market 31 days — a 3% lower offer ($136k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 10y ago; this cycle's ask has dropped $10k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $85k; list at $140k implies a 64% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $135,084 (3.4% 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 1940 — 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. 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?
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: 0.97% ✗
• Cap rate: 6.80%
• Cash-on-cash: 1.80%
• DSCR: 1.08
• GRM: 8.6

CMA / ARV

• ARV (on-the-fly): $107,880
• Comps found: 6

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3407 W Grimson Ave	0.26mi	2/1.5 (-1)	905 (-3%)	2mo	$105,000	$116	77
3201 W Sylvan Ln	0.32mi	2/1.0 (-1)	912 (-2%)	9mo	$52,000	$57	67
3424 W Sylvan Ln	0.23mi	2/1.0 (-1)	962 (+3%)	14mo	$122,000	$127	65
2724 W Scenic Dr	0.65mi	3/1.0	936 (+1%)	7mo	$100,000	$107	61
2809 W Scenic Dr	0.61mi	2/1.5 (-1)	934 (+0%)	18mo	$94,500	$101	51
2910 W Scenic Dr	0.55mi	3/1.0	1,042 (+12%)	12mo	$140,000	$134	42

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -13.4%
• Equity multiple: 0.52×
• Total profit: $-18,891
• Equity at exit: $20,860

10-year hold

• IRR: -4.4%
• Equity multiple: 0.71×
• Total profit: $-11,457
• Equity at exit: $12,096

Cash invested: $39,172 (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 61615

• Home prices YoY: -32.2%
• Active inventory: 130
• Price-to-rent: 8.6×

Monthly cashflow live

• Estimated rent: $1,351 high
• Mortgage (P&I): −$734
• Tax from tax record: −$217 /mo · $2,599/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$284
• Net cashflow: $59

Break-even live

Break-even rent $1,277

Max offer price $139,900

Occupancy floor 91%

Sensitivity live

Price	-10% $138	-5% $98	+0% $59	+5% $19	+10% $-21
Rent	-10% $-48	-5% $5	+0% $59	+5% $112	+10% $165
Rate	-1.0pp $129	-0.5pp $94	base $59	+0.5pp $22	+1.0pp $-15

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: $34,975
• Closing costs: $4,197
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2979 W Cannes Dr Peoria, IL	1.0–2.0	1.0–1.5	800	$1,150	$1.44	15d	1	0.92mi
2800 W War Memorial Dr Peoria, IL	2.0	1.5	950	$949	$1.00	15d	3	0.93mi
2805 W Larchmont Ln Peoria, IL	1.0–2.0	1.0	695	$1,060	$1.53	15d	3	0.93mi
5505 N Frostwood Pkwy Peoria, IL	2.0	2.0	1030	$1,490	$1.45	15d	1	0.95mi
2913 W Cannes Dr Unit C Peoria, IL	2.0	2.0	884	$1,150	$1.30	45d	1	0.96mi
3601 N Kingston Dr Peoria, IL	2.0	2.0	1030	$1,420	$1.38	15d	3	1.09mi
3438 W Villa Rdg Unit A Peoria, IL	2.0	1.5	874	$1,200	$1.37	23d	1	1.29mi
3444 W Dorchester Rdg Peoria, IL	2.0	2.0	1089	$1,275	$1.17	15d	1	1.36mi
3629 N Leroy Ave Unit A Peoria, IL	2.0	1.0	1000	$1,150	$1.15	45d	1	1.49mi

Listing history 22 events

1. 2026-06-22
   days on market $139,900 Active 31 DOM
2. 2026-06-19
   days on market $139,900 Active 29 DOM
3. 2026-06-18
   days on market $139,900 Active 28 DOM
4. 2026-06-17
   days on market $139,900 Active 27 DOM
5. 2026-06-16
   days on market $139,900 Active 26 DOM
6. 2026-06-15
   days on market $139,900 Active 25 DOM
7. 2026-06-14
   days on market $139,900 Active 23 DOM
8. 2026-06-13
   days on market $139,900 Active 22 DOM
9. 2026-06-10
   days on market $139,900 Active 20 DOM
10. 2026-06-09
    days on market $139,900 Active 19 DOM
11. 2026-06-08
    days on market $139,900 Active 18 DOM
12. 2026-06-07
    days on market $139,900 Active 17 DOM
13. 2026-06-03
    days on market $139,900 Active 13 DOM
14. 2026-06-02
    pricedays on market $139,900 Active 12 DOM
15. 2026-06-01
    days on market $150,000 Active 11 DOM
16. 2026-05-31
    days on market $150,000 Active 10 DOM
17. 2026-05-30
    days on market $150,000 Active 9 DOM
18. 2026-05-12
    listed $150,000 Active 625-char remark
19. 2021-08-06
    historical
20. 2016-05-11
    soldstatus $85,100
21. 2016-05-09
    soldstatus $85,000

    Show marketing remark (458 chars)

    JUST LISTED 3 BEDROOM WALK-OUT RANCH. APPRECIATE THE PRIDE OF OWNERSHIP IN THIS WELL MAINTAINED RANCH. FALL IN LOVE WITH HUGE MASTER BEDROOM WITH VAULTED CEILING. THE SECOND BEDROOM IS ADORABLE WITH BUILT-IN SHELVES, VAULTED CEILING AND A STORY BOOK FEEL. ENJOY A PRIVATE BACKYARD SETTING WITH A BRICK PATIO. OWNER HAS UPDATED THE BATHROOM WITH NEW SUBWAY TILE FLOORING, VANITY AND MORE! WINDOWS NEW IN 2015. DON'T MISS OUT ON THIS GREAT VALUE UNDER $9O,000!

22. 2016-01-22
    listed $89,990

    Show marketing remark (458 chars)

    JUST LISTED 3 BEDROOM WALK-OUT RANCH. APPRECIATE THE PRIDE OF OWNERSHIP IN THIS WELL MAINTAINED RANCH. FALL IN LOVE WITH HUGE MASTER BEDROOM WITH VAULTED CEILING. THE SECOND BEDROOM IS ADORABLE WITH BUILT-IN SHELVES, VAULTED CEILING AND A STORY BOOK FEEL. ENJOY A PRIVATE BACKYARD SETTING WITH A BRICK PATIO. OWNER HAS UPDATED THE BATHROOM WITH NEW SUBWAY TILE FLOORING, VANITY AND MORE! WINDOWS NEW IN 2015. DON'T MISS OUT ON THIS GREAT VALUE UNDER $9O,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: $2,599 · $217/mo
• Projected year-2 tax: $2,888 · $241/mo
• Expected delta: +$288/yr (+$24/mo · 11.1%)

ⓘ 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 ≥104°F today · 17 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: $16,210
• − Mortgage interest: −$7,837
• − Property taxes: −$2,599
• − Insurance: −$700
• − Repairs & maintenance: −$1,297
• − Management: −$1,297
• − Depreciation: −$4,070
• Taxable loss: −$1,589
• Est. tax savings @ 24.0%: +$381
• After-tax cash flow: $1,085/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): 23,523
• Household income: $79,817
• Rent vs Own: 41.3% rent · 58.7% own
• Severe rent burden: 833.0

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 (72%)
• Race & ethnicity: White 72% Asian 10% Black 8% Hispanic / Latino 7% Two or more races 5%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Italian 3% Romanian 3% Lithuanian 2%
• Foreign-born: 13% · China, Canada, Jamaica
• Languages at home: 83% English-only · Other Indo-European 4% Spanish 4% Chinese 3%

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: ▼ -79.30%
• Current HPI: 166.9745
• Rent YoY: —
• 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

+55.5% since first listed

7 events — show timeline

• 2026-06-01 Price Changed $139,900 RMLSA as Distributed by MLS Grid
• 2026-05-21 Listed $150,000 RMLSA as Distributed by MLS Grid
• 2026-05-20 Coming Soon $150,000 RMLSA as Distributed by MLS Grid
• 2021-08-06 Listing Removed — RMLSA as Distributed by MLS Grid
• 2016-05-11 Sold (Public Records) $85,100 Public Records
• 2016-05-09 Sold (MLS) $85,000 RMLSA as Distributed by MLS Grid
• 2016-01-22 Listed $89,990 RMLSA as Distributed by MLS Grid

Property tax history

+5.2%/yr

Latest (2025): $2,599 · +8.4% YoY. Source: county tax records.