3922 N Boulevard Ave · Peoria Heights, IL 61616

$39,900

2 bd · 1.0 ba · 702 sqft · SingleFamily public records · 59 Days on market

Built 1947 4,356 sqft lot $57/sqft · 52% 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 +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

WELCOME TO 3922 N BOULEVARD AVE IN PEORIA HEIGHTS! THIS 2 BEDROOM, 1 BATH HOME OFFERS 702 SQ FT & IS A TRUE FIXER UPPER READY FOR YOUR VISION. MAIN LEVEL FEATURES A COMPACT LAYOUT WITH 2 BEDROOMS & A FULL BATH, PROVIDING A SOLID START FOR RENOVATION OR INVESTMENT. BASEMENT HAS BEEN RECENTLY REDONE WITH NEW BACK PLASTER & A NEWLY BLOCKED WALL, OFFERING IMPROVED STRUCTURAL SUPPORT & A CLEAN SLATE FOR FUTURE USE. ADDITIONAL UPDATES INCLUDE SOME REPLACEMENT WINDOWS, 90% EFFICIENCY FURNACE, & NEWER WATER HEATER. EXTERIOR FEATURES A SPACIOUS BACKYARD WITH ROOM TO EXPAND OR CREATE OUTDOOR LIVING SPACE. PROPERTY IS IN NEED OF SIGNIFICANT REPAIRS & IS BEING SOLD AS-IS, BUT PRESENTS A STRONG OPPORTUNITY TO BUILD EQUITY IN A DESIRABLE PEORIA HEIGHTS LOCATION & SCHOOL DISTRICT.

Key facts

• Spacious backyard
• Newer roof
• Newer water heater

Tags

• RECENTLY REDONE BASEMENT
• REPLACEMENT WINDOWS
• NEWER ROOF
• 90 PERCENT EFFICIENCY FURNACE
• NEWER WATER HEATER
• SPACIOUS BACKYARD

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $40k.

Deal economics

• At list price, monthly cash flow is $751 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $40k).
• Recommended offer: $39k (3.0% below list) — sets the bar for market timing.
• Cap rate 28.9% vs local median 8.8% in Peoria Heights — 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 62/100 on livability (#886 in IL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A-, health & safety B+; Watch: schools F, crime F, amenities F.
• Peoria Heights CUSD 325 (suburban): math 8% / reading 15% proficiency, ranked #560 of 620 in IL (top 90%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 32 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals at typical pace (median 14d 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 $276 of loan paydown is wiped out by about $1k 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 + 3.0% rent growth), your $11k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 59 days — a 3% lower offer ($39k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 2y ago; this cycle's ask has dropped $2k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $29k; 38% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1947 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $38,703 (3.0% below list)

Questions for the listing agent

1. It's been on market 59 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 1947 — 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: 3.26% ✓
• Cap rate: 28.88%
• Cash-on-cash: 80.66%
• DSCR: 4.59
• GRM: 2.6

CMA / ARV

• ARV (median comp): $82,520
• List price: $39,900
• Delta: -51.65%
• 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
4100 N Illinois Dr	0.14mi	2/1.0	736 (+5%)	5mo	$77,000	$105	81
911 E Moneta Ave	0.39mi	2/1.0	720 (+3%)	0mo	$95,000	$132	77
705 E Lake Ave	0.20mi	2/1.0	740 (+5%)	10mo	$95,000	$128	73
213 E Lake Ave	0.45mi	2/1.0	676 (-4%)	4mo	$63,000	$93	69
515 E Marietta Ave	0.42mi	2/2.0	736 (+5%)	2mo	$104,900	$143	66
3824 N Ashton Ave	0.60mi	2/1.0	676 (-4%)	10mo	$90,000	$133	58
1108 E Hazard Ave	0.33mi	2/1.0	789 (+12%)	8mo	$107,500	$136	57
1107 E Hines Ave	0.33mi	2/1.0	620 (-12%)	10mo	$95,000	$153	56
3824 N Dayton Ave	0.71mi	2/1.0	672 (-4%)	6mo	$65,000	$97	54
507 E Embert Pl	0.45mi	2/1.0	792 (+13%)	8mo	$68,500	$86	51
301 E Ellington Dr	0.73mi	2/1.0	751 (+7%)	10mo	$95,000	$126	46
1408 E Moneta Ave	0.72mi	2/1.0	624 (-11%)	5mo	$115,000	$184	44

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: 80.9%
• Equity multiple: 4.70×
• Total profit: $41,381
• Equity at exit: $5,949

10-year hold

• IRR: 84.3%
• Equity multiple: 9.74×
• Total profit: $97,697
• Equity at exit: $3,450

Cash invested: $11,172 (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 61616

• Home prices YoY: -31.0%
• Active inventory: 32
• Price-to-rent: 2.6×

Monthly cashflow live

• Estimated rent: $1,300 high
• Mortgage (P&I): −$209
• Tax est. 1.5%: −$50 /mo · $598/yr
• Insurance: −$17
• HOA: −$0
• Vacancy / Maint / Mgmt: −$273
• Net cashflow: $751

Break-even live

Break-even rent $349

Max offer price $39,900

Occupancy floor 37%

Sensitivity live

Price	-10% $778	-5% $765	+0% $751	+5% $737	+10% $723
Rent	-10% $648	-5% $700	+0% $751	+5% $802	+10% $854
Rate	-1.0pp $771	-0.5pp $761	base $751	+0.5pp $741	+1.0pp $730

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: $9,975
• Closing costs: $1,197
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
811 E Lake Ave Peoria Heights, IL	2.0	1.0	576	$875	$1.52	14d	1	0.24mi
249 E Oak Cliff Ct Unit 4 Peoria, IL	2.0	1.0	600	$800	$1.33	14d	1	0.47mi
4914 N Best St Peoria Heights, IL	2.0	1.0	720	$1,200	$1.67	44d	1	0.70mi
4809 Knoxville Ave Apt 2C Peoria, IL	1.0	1.0	700	$850	$1.21	21d	1	0.79mi
4809 Knoxville Ave Unit 4819 4B, 5A, & 5B Peoria, IL	3.0	2.0	700	$1,800	$2.57	14d	1	0.79mi
W Crestwood Dr Peoria, IL	1.0–2.0	1.0	800	$975	$1.22	14d	4	1.10mi
4020 N Bryer Pl Peoria, IL	2.0	1.0	720	$1,250	$1.74	21d	1	1.28mi

Listing history 20 events

1. 2026-06-19
   days on market $39,900 Active 59 DOM
2. 2026-06-18
   days on market $39,900 Active 58 DOM
3. 2026-06-17
   days on market $39,900 Active 57 DOM
4. 2026-06-16
   days on market $39,900 Active 56 DOM
5. 2026-06-15
   days on market $39,900 Active 55 DOM
6. 2026-06-14
   days on market $39,900 Active 53 DOM
7. 2026-06-13
   days on market $39,900 Active 52 DOM
8. 2026-06-10
   days on market $39,900 Active 50 DOM
9. 2026-06-09
   days on market $39,900 Active 49 DOM
10. 2026-06-08
    days on market $39,900 Active 48 DOM
11. 2026-06-07
    days on market $39,900 Active 47 DOM
12. 2026-06-05
    days on market $39,900 Active 44 DOM
13. 2026-06-02
    days on market $39,900 Active 42 DOM
14. 2026-06-01
    days on market $39,900 Active 41 DOM
15. 2026-05-31
    days on market $39,900 Active 40 DOM
16. 2026-05-30
    days on market $39,900 Active 39 DOM
17. 2026-04-21
    listed $42,000 Active 804-char remark

    Show marketing remark (804 chars)

    WELCOME TO 3922 N BOULEVARD AVE IN PEORIA HEIGHTS! THIS 2 BEDROOM, 1 BATH HOME OFFERS 702 SQ FT & IS A TRUE FIXER UPPER READY FOR YOUR VISION. MAIN LEVEL FEATURES A COMPACT LAYOUT WITH 2 BEDROOMS & A FULL BATH, PROVIDING A SOLID START FOR RENOVATION OR INVESTMENT. BASEMENT HAS BEEN RECENTLY REDONE WITH NEW BACK PLASTER & A NEWLY BLOCKED WALL, OFFERING IMPROVED STRUCTURAL SUPPORT & A CLEAN SLATE FOR FUTURE USE. ADDITIONAL UPDATES INCLUDE SOME REPLACEMENT WINDOWS, 90% EFFICIENCY FURNACE, & NEWER WATER HEATER. EXTERIOR FEATURES A SPACIOUS BACKYARD WITH ROOM TO EXPAND OR CREATE OUTDOOR LIVING SPACE. PROPERTY IS IN NEED OF SIGNIFICANT REPAIRS & IS BEING SOLD AS-IS, BUT PRESENTS A STRONG OPPORTUNITY TO BUILD EQUITY IN A DESIRABLE PEORIA HEIGHTS LOCATION & SCHOOL DISTRICT.

18. 2024-10-24
    soldstatus $29,000 Closed 266-char remark

    Show marketing remark (266 chars)

    Fixer upper priced to sell in Peoria Heights. Basement has just been redone including new back plaster and a newly blocked wall, bathroom has been remodeled, some replacement windows, newer roof, 90% furnace, newer water heater, and spacious back yard. Agent owned.

19. 2024-09-26
    status Pending 266-char remark

    Show marketing remark (266 chars)

    Fixer upper priced to sell in Peoria Heights. Basement has just been redone including new back plaster and a newly blocked wall, bathroom has been remodeled, some replacement windows, newer roof, 90% furnace, newer water heater, and spacious back yard. Agent owned.

20. 2024-09-19
    listed $34,900 Active 266-char remark

    Show marketing remark (266 chars)

    Fixer upper priced to sell in Peoria Heights. Basement has just been redone including new back plaster and a newly blocked wall, bathroom has been remodeled, some replacement windows, newer roof, 90% furnace, newer water heater, and spacious back yard. Agent owned.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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: $15,595
• − Mortgage interest: −$2,235
• − Property taxes: −$598
• − Insurance: −$200
• − Repairs & maintenance: −$1,248
• − Management: −$1,248
• − Depreciation: −$1,161
• Taxable income: $8,906
• Est. tax owed @ 24.0%: −$2,137
• After-tax cash flow: $6,874/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 Heights CUSD 325
• NCES district ID: 1731270
• Math proficiency: 8% ▼ -3.00%
• Reading proficiency: 15% ▼ -6.00%
• Median HH income: $44,878
• Composite: 10.35/100
• National rank: #9788
• State rank: #560 of 620 in IL

Livability — Peoria Heights

• Score: 62/100
• State rank: #886
• US rank: #17272

Category grades

Amenities F Commute F Cost of living A+ Crime F Employment D- Housing A- Health & safety B+ User ratings D-

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Peoria Heights, IL
• County: Peoria County · 120,495 people
• City population: 5,825
• Metro: Peoria, IL
• Population (ZIP): 5,825
• Household income: $60,099
• Rent vs Own: 33.6% rent · 66.4% own
• Severe rent burden: 82.0

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 (87%)
• Race & ethnicity: White 87% Black 4% Two or more races 4% Hispanic / Latino 3% Asian 3%
• Common ancestry: Iranian 5% Italian 2% Slovak 2%
• Foreign-born: 5% · Canada, South Korea
• Languages at home: 93% English-only · Chinese 2% Spanish 2% Other Indo-European 2%

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: ▼ -78.59%
• Current HPI: 175.1102
• 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

+20.3% since first listed

4 events — show timeline

• 2026-04-21 Listed $42,000 RMLSA as Distributed by MLS Grid
• 2024-10-24 Sold (MLS) $29,000 RMLSA as Distributed by MLS Grid
• 2024-09-26 Pending — RMLSA as Distributed by MLS Grid
• 2024-09-19 Listed $34,900 RMLSA as Distributed by MLS Grid

Property tax history

-17.4%/yr

Latest (2024): $79 · -85.1% YoY. Source: county tax records.