1003 NE Monroe St · Peoria, IL 61603

$139,900

5 bd · 3.0 ba · 2,220 sqft · MultiFamily public records · 99 Days on market

Built 1900 3,920 sqft lot $63/sqft · 100% above 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 +3.4/5.0
• Condition / age +2.5/5.0
• Schools +1.1/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 3 units. confirmed

Listing remarks MLS

Investor opportunity in Peoria! This triplex property offers strong income potential and long-term upside. Featuring 5 total bedrooms and 3 bathrooms, the building includes multiple units with spacious layouts and a mix of 1- and 3-bedroom configurations. The property offers approximately 2,220 square feet and was originally built in 1900, providing classic character with value-add potential. Located in Peoria?s North Valley neighborhood, the property sits near local schools, downtown Peoria amenities, and major roadways for convenient access throughout the city. Currently generating $2,300 per month in rental income, this property presents an opportunity for investors looking to increase rents, improve units, or add to their rental portfolio. Whether you?re a seasoned investor or just starting out, this triplex offers the chance to build equity and grow cash flow in an established rental market. Seller pays water, tenants pay gas and electric.

Key facts

• 3,920 sq ft lot
• Built 1900
• Listed 98 days

What this means for you Summary

Snapshot

• This is a 3 × 5-bed/3.0-bath units multifamily listed at $140k.

Deal economics

• At list price, monthly cash flow is $2k ($26k/yr) — positive. Per door: $731/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $140k).
• Recommended offer: $127k (9.0% below list) — sets the bar for market timing.
• Cap rate 25.1% 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+, 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 (+3.5%/yr); 104 active listings in the ZIP; 1 comparable units currently listed for rent nearby; lower-income renter base — watch delinquency; 73 units permitted in Peoria County in 2024 (0 in 5+ unit buildings).
• At $3,984/mo this rent would consume 115% of the median local household income ($42k/yr) (locally 849% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

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.
• At projected returns (-3.0% appreciation + 3.5% rent growth), your $39k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 99 days — a 9% lower offer ($127k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 2y ago; this cycle's ask has dropped $15k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $75k; list at $140k implies a 87% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $127,309 (9.0% below list)

Questions for the listing agent

1. It's been on market 99 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. 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.
10. 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.
11. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 2.85% ✓
• Cap rate: 25.10%
• Cash-on-cash: 67.17%
• DSCR: 3.99
• GRM: 2.9

CMA / ARV

• ARV (median comp): $69,900
• List price: $139,900
• Delta: 100.14%
• Verdict: OVERPRICED
• Comps: 17 within 1.0 mi

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
818 NE Madison Ave	0.17mi	4/2.0 (-1)	2,304 (+4%)	2mo	$31,501	$14	75
1106 NE Jefferson Ave	0.23mi	4/4.0 (-1)	2,264 (+2%)	10mo	$100,000	$44	69
920 NE Glendale Ave	0.14mi	4/4.0 (-1)	2,300 (+4%)	14mo	$23,000	$10	66
708-710 Spring St	0.29mi	4/2.0 (-1)	2,232 (+0%)	20mo	$59,000	$26	60
506 Caroline St	0.42mi	4/2.0 (-1)	2,106 (-5%)	5mo	$93,750	$45	59

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: 67.1%
• Equity multiple: 4.04×
• Total profit: $119,000
• Equity at exit: $20,860

10-year hold

• IRR: 71.4%
• Equity multiple: 8.45×
• Total profit: $291,831
• 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 61603

• Home prices YoY: -31.8%
• Rents YoY: 3.5%
• Active inventory: 104
• Price-to-rent: 8.8×

Monthly cashflow live

• Estimated rent: $3,984 medium
• Mortgage (P&I): −$734
• Tax from tax record: −$163 /mo · $1,955/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$837
• Net cashflow: $2,193

Break-even live

Break-even rent $1,209

Max offer price $139,900

Occupancy floor 40%

Sensitivity live

Price	-10% $2,272	-5% $2,232	+0% $2,193	+5% $2,153	+10% $2,113
Rent	-10% $1,878	-5% $2,035	+0% $2,193	+5% $2,350	+10% $2,507
Rate	-1.0pp $2,263	-0.5pp $2,228	base $2,193	+0.5pp $2,156	+1.0pp $2,119

3-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 3× units	5	3	$3,984
Total (3 units)			$3,984

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 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1806 N Peoria Ave Peoria, IL	4.0	1.5	1668	$894	$0.54	14d	1	0.68mi

Listing history 25 events

1. 2026-06-19
   days on market $139,900 Active 99 DOM
2. 2026-06-18
   days on market $139,900 Active 98 DOM
3. 2026-06-17
   days on market $139,900 Active 97 DOM
4. 2026-06-16
   days on market $139,900 Active 96 DOM
5. 2026-06-15
   days on market $139,900 Active 95 DOM
6. 2026-06-14
   days on market $139,900 Active 93 DOM
7. 2026-06-13
   days on market $139,900 Active 92 DOM
8. 2026-06-10
   days on market $139,900 Active 90 DOM
9. 2026-06-09
   days on market $139,900 Active 89 DOM
10. 2026-06-08
    days on market $139,900 Active 88 DOM
11. 2026-06-07
    days on market $139,900 Active 87 DOM
12. 2026-06-03
    days on market $139,900 Active 83 DOM
13. 2026-06-02
    days on market $139,900 Active 82 DOM
14. 2026-06-01
    days on market $139,900 Active 81 DOM
15. 2026-05-31
    days on market $139,900 Active 80 DOM
16. 2026-05-30
    days on market $139,900 Active 79 DOM
17. 2026-04-23
    price $139,900 966-char remark

    Show marketing remark (966 chars)

    Investor opportunity in Peoria! This triplex property offers strong income potential and long-term upside. Featuring 5 total bedrooms and 3 bathrooms, the building includes multiple units with spacious layouts and a mix of 1- and 3-bedroom configurations. The property offers approximately 2,220 square feet and was originally built in 1900, providing classic character with value-add potential. Located in Peoria?s North Valley neighborhood, the property sits near local schools, downtown Peoria amenities, and major roadways for convenient access throughout the city. Currently generating $2,300 per month in rental income, this property presents an opportunity for investors looking to increase rents, improve units, or add to their rental portfolio. Whether you?re a seasoned investor or just starting out, this triplex offers the chance to build equity and grow cash flow in an established rental market. Seller pays water, tenants pay gas and electric.

18. 2026-03-25
    price $149,900 966-char remark

    Show marketing remark (966 chars)

    Investor opportunity in Peoria! This triplex property offers strong income potential and long-term upside. Featuring 5 total bedrooms and 3 bathrooms, the building includes multiple units with spacious layouts and a mix of 1- and 3-bedroom configurations. The property offers approximately 2,220 square feet and was originally built in 1900, providing classic character with value-add potential. Located in Peoria?s North Valley neighborhood, the property sits near local schools, downtown Peoria amenities, and major roadways for convenient access throughout the city. Currently generating $2,300 per month in rental income, this property presents an opportunity for investors looking to increase rents, improve units, or add to their rental portfolio. Whether you?re a seasoned investor or just starting out, this triplex offers the chance to build equity and grow cash flow in an established rental market. Seller pays water, tenants pay gas and electric.

19. 2026-03-12
    listed $154,900 Active 966-char remark

    Show marketing remark (966 chars)

    Investor opportunity in Peoria! This triplex property offers strong income potential and long-term upside. Featuring 5 total bedrooms and 3 bathrooms, the building includes multiple units with spacious layouts and a mix of 1- and 3-bedroom configurations. The property offers approximately 2,220 square feet and was originally built in 1900, providing classic character with value-add potential. Located in Peoria?s North Valley neighborhood, the property sits near local schools, downtown Peoria amenities, and major roadways for convenient access throughout the city. Currently generating $2,300 per month in rental income, this property presents an opportunity for investors looking to increase rents, improve units, or add to their rental portfolio. Whether you?re a seasoned investor or just starting out, this triplex offers the chance to build equity and grow cash flow in an established rental market. Seller pays water, tenants pay gas and electric.

20. 2026-03-10
    historical $154,900 966-char remark

    Show marketing remark (966 chars)

    Investor opportunity in Peoria! This triplex property offers strong income potential and long-term upside. Featuring 5 total bedrooms and 3 bathrooms, the building includes multiple units with spacious layouts and a mix of 1- and 3-bedroom configurations. The property offers approximately 2,220 square feet and was originally built in 1900, providing classic character with value-add potential. Located in Peoria?s North Valley neighborhood, the property sits near local schools, downtown Peoria amenities, and major roadways for convenient access throughout the city. Currently generating $2,300 per month in rental income, this property presents an opportunity for investors looking to increase rents, improve units, or add to their rental portfolio. Whether you?re a seasoned investor or just starting out, this triplex offers the chance to build equity and grow cash flow in an established rental market. Seller pays water, tenants pay gas and electric.

21. 2024-03-08
    soldstatus $75,000 Closed 362-char remark

    Show marketing remark (362 chars)

    Welcome to 1003 NE Monroe! Affordable, updated investment property right in the heart of Peoria. Three units, all occupied. Main floor unit is 3 beds, 1 bath; both upper units are 1 bed, 1 bath. Newer plank flooring throughout, remodeled bathrooms and kitchens and fresh paint. The 2 upper units are all electric. Seller pays water, tenants pay gas and electric.

22. 2024-02-11
    status Pending 362-char remark

    Show marketing remark (362 chars)

    Welcome to 1003 NE Monroe! Affordable, updated investment property right in the heart of Peoria. Three units, all occupied. Main floor unit is 3 beds, 1 bath; both upper units are 1 bed, 1 bath. Newer plank flooring throughout, remodeled bathrooms and kitchens and fresh paint. The 2 upper units are all electric. Seller pays water, tenants pay gas and electric.

23. 2024-02-01
    status Active 362-char remark

    Show marketing remark (362 chars)

    Welcome to 1003 NE Monroe! Affordable, updated investment property right in the heart of Peoria. Three units, all occupied. Main floor unit is 3 beds, 1 bath; both upper units are 1 bed, 1 bath. Newer plank flooring throughout, remodeled bathrooms and kitchens and fresh paint. The 2 upper units are all electric. Seller pays water, tenants pay gas and electric.

24. 2024-01-19
    status Pending 362-char remark

    Show marketing remark (362 chars)

    Welcome to 1003 NE Monroe! Affordable, updated investment property right in the heart of Peoria. Three units, all occupied. Main floor unit is 3 beds, 1 bath; both upper units are 1 bed, 1 bath. Newer plank flooring throughout, remodeled bathrooms and kitchens and fresh paint. The 2 upper units are all electric. Seller pays water, tenants pay gas and electric.

25. 2024-01-15
    listed $79,900 Active 362-char remark

    Show marketing remark (362 chars)

    Welcome to 1003 NE Monroe! Affordable, updated investment property right in the heart of Peoria. Three units, all occupied. Main floor unit is 3 beds, 1 bath; both upper units are 1 bed, 1 bath. Newer plank flooring throughout, remodeled bathrooms and kitchens and fresh paint. The 2 upper units are all electric. Seller pays water, tenants pay gas and electric.

ⓘ 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: $1,955 · $163/mo
• Projected year-2 tax: $2,565 · $214/mo
• Expected delta: +$611/yr (+$51/mo · 31.2%)

ⓘ 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: $47,808
• − Mortgage interest: −$7,837
• − Property taxes: −$1,955
• − Insurance: −$700
• − Repairs & maintenance: −$3,825
• − Management: −$3,825
• − Depreciation: −$4,070
• Taxable income: $25,598
• Est. tax owed @ 24.0%: −$6,144
• After-tax cash flow: $20,167/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

+75.1% since first listed

9 events — show timeline

• 2026-04-23 Price Changed $139,900 RMLSA as Distributed by MLS Grid
• 2026-03-25 Price Changed $149,900 RMLSA as Distributed by MLS Grid
• 2026-03-12 Listed $154,900 RMLSA as Distributed by MLS Grid
• 2026-03-10 Coming Soon $154,900 RMLSA as Distributed by MLS Grid
• 2024-03-08 Sold (MLS) $75,000 RMLSA as Distributed by MLS Grid
• 2024-02-11 Pending — RMLSA as Distributed by MLS Grid
• 2024-02-01 Relisted — RMLSA as Distributed by MLS Grid
• 2024-01-19 Pending — RMLSA as Distributed by MLS Grid
• 2024-01-15 Listed $79,900 RMLSA as Distributed by MLS Grid

Property tax history

+9.8%/yr

Latest (2024): $1,955 · +185.0% YoY. Source: county tax records.