3226 W Richwoods Blvd · Peoria, IL 61604-0000

$149,900

2 bd · 1.0 ba · 1,202 sqft · SingleFamily public records · 3 Days on market

Built 1950 0.34 ac lot Est $132k · 13% 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 +8.5/30.0
• Appreciation +5.0/10.0
• Livability +3.7/5.0
• 1% rule +2.9/10.0
• Schools +2.9/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +2.3/10.0
• ARV discount +1.5/15.0

Listing remarks

Welcome to this charming ranch-style home in Peoria, featuring 2 bedrooms and 2 full bathrooms. This home offers both comfort and accessibility in a desirable neighborhood. Inside you'll find a functional layout with spacious living areas and plenty of natural light throughout. The full basement provides excellent storage space and endless potential. The garage offers a very ample space, with insulation, room for 2 cars, and tons more room for fun!! Whether you're a first time buyer, downsizing, or looking for an investment opportunity, this home is full of possibilities!

Key facts

• 0.34 acre lot
• 2 garage spots
• Built 1950

Property features AI

Exterior

• Parking: Attached oversized 2-car garage
• Utilities: Public water; Public sewer
• Home design: Single family residence; Shingle roof; Built in 1950; Multiple levels including main, upper, lower and basement
• Construction: Year built 1950
• Exterior features: Fenced yard; Yard shed(s); Level lot

Interior

• Kitchen: Kitchen with laminate flooring; Includes dishwasher and refrigerator
• Bedrooms: 2 bedrooms (main level); Bedroom sizes include approximately 11.04 x 14 ft and 10.11 x 11.04 ft
• Flooring: Carpet in some rooms; Hardwood in one bedroom; Laminate in kitchen; Other flooring in basement laundry
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central air conditioning; Forced air heating; Gas water heater
• Interior features: Dishwasher; Refrigerator; Water softener (owned); Dryer; Gas log fireplace in living room; Fireplace in recreation room; Two fireplaces total; Full, partially finished basement; Egress windows in some bedrooms
• Laundry & utility: Basement laundry area; Dryer included

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $150k.

Deal economics

• At list price, monthly cash flow is $-131 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $127k (15.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $119k (20.6% below list).
• Recommended offer: $119k (20.6% below list) — sets the bar for 1% rule.

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.
• Limestone Chsd 310 (rural): math 25% / reading 35% proficiency, ranked #486 of 919 in IL (top 53%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Limestone Community High School (math 17% / reading 22%, grade F, #397 of 693 statewide, top 61%, 924 students, 0% FRL).
• Market conditions: 1 active listings in the ZIP; 13 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

• In year one you build about $6k of equity ($1k loan paydown + $4k appreciation (3.0% local appreciation)).
• Peoria County population projected at -11% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• By year 7, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $119,059 (20.6% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Built in 1950 — 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: 0.79% ✗
• Cap rate: 5.24%
• Cash-on-cash: -3.75%
• DSCR: 0.83
• GRM: 10.5

CMA / ARV

• ARV (on-the-fly): $132,220
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3311 W Richwoods Blvd	0.06mi	3/2.0 (+1)	1,230 (+2%)	6mo	$151,000	$123	79
3347 W Saymore Ln	0.45mi	2/2.0	1,241 (+3%)	3mo	$141,000	$114	67
3510 N Kingston Dr #4	0.29mi	2/1.5	1,321 (+10%)	6mo	$134,230	$102	63
3510 N Kingston Dr #5	0.29mi	2/1.5	1,360 (+13%)	6mo	$100,000	$74	58
3510 N Elmcroft Ter	0.53mi	3/1.0 (+1)	1,092 (-9%)	1mo	$136,000	$125	54
3423 N EL Vista Ave	0.72mi	3/1.0 (+1)	1,183 (-2%)	5mo	$100,000	$85	54
3819 N Saymore Ln	0.44mi	3/1.0 (+1)	1,288 (+7%)	10mo	$177,000	$137	54
2910 W Westport Rd	0.61mi	2/1.0	1,289 (+7%)	7mo	$139,999	$109	54
3421 N Rockwood Rd	0.59mi	3/1.0 (+1)	1,332 (+11%)	3mo	$145,900	$110	47
2913 W Westport Rd	0.64mi	3/2.5 (+1)	1,221 (+2%)	14mo	$165,000	$135	45
3335 N Stanley St	0.71mi	2/1.0	1,103 (-8%)	14mo	$72,000	$65	42
3609 N Rockwood Rd	0.62mi	3/2.0 (+1)	1,372 (+14%)	11mo	$145,500	$106	29

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: 4.0%
• Equity multiple: 1.23×
• Total profit: $9,747
• Equity at exit: $67,402

10-year hold

• IRR: 7.3%
• Equity multiple: 2.11×
• Total profit: $46,480
• Equity at exit: $103,874

Cash invested: $41,972 (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 61604-0000

• Active inventory: 1
• Price-to-rent: 10.5×

Monthly cashflow live

• Estimated rent: $1,191 high
• Mortgage (P&I): −$786
• Tax from tax record: −$223 /mo · $2,678/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$250
• Net cashflow: $-131

Break-even live

Break-even rent $1,357

Max offer price $126,740

Occupancy floor —

Sensitivity live

Price	-10% $-46	-5% $-89	+0% $-131	+5% $-174	+10% $-216
Rent	-10% $-225	-5% $-178	+0% $-131	+5% $-84	+10% $-37
Rate	-1.0pp $-56	-0.5pp $-93	base $-131	+0.5pp $-170	+1.0pp $-209

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: $37,475
• Closing costs: $4,497
• Reserves months: —
• Total cash needed: —

Rent comps 13 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3601 N Kingston Dr Peoria, IL	2.0	2.0	1030	$1,420	$1.38	14d	3	0.21mi
3438 W Villa Rdg Unit A Peoria, IL	2.0	1.5	874	$1,200	$1.37	21d	1	0.30mi
3444 W Dorchester Rdg Peoria, IL	2.0	2.0	1089	$1,275	$1.17	14d	1	0.33mi
2700 W Forrest Hill Ave Peoria, IL	2.0	1.0	850	$850	$1.00	44d	1	0.54mi
2511 W Wardcliffe Dr Unit H Peoria, IL	2.0	1.0	800	$875	$1.09	44d	1	0.69mi
2600 N Lavalle Ct Peoria, IL	1.0–3.0	1.0–2.0	803	$1,000	$1.25	14d	26	0.69mi
2920 N Rockwood Dr Apt B Peoria, IL	2.0	1.0	800	$895	$1.12	14d	1	0.71mi
2805 W Larchmont Ln Peoria, IL	1.0–2.0	1.0	695	$1,060	$1.53	14d	3	0.75mi
3629 N Leroy Ave Unit A Peoria, IL	2.0	1.0	1000	$1,150	$1.15	44d	1	0.90mi
2610 N Renwood Ave Peoria, IL	2.0	1.0	904	$1,300	$1.44	14d	1	0.95mi
2109 N Abbey Cir Peoria, IL	3.0	2.0	1088	$1,009	$0.93	14d	1	1.11mi
1801 N Gentry Ln West Peoria, IL	3.0	1.0	1000	$1,650	$1.65	14d	1	1.38mi
4010 N Brandywine Dr Peoria, IL	1.0–2.0	1.0–2.0	797	$1,082	$1.36	14d	17	1.39mi

Listing history 2 events

1. 2026-05-11
   status Pending
2. 2026-05-07
   listed $149,900 Active

ⓘ 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: $2,678 · $223/mo
• Projected year-2 tax: $3,040 · $253/mo
• Expected delta: +$363/yr (+$30/mo · 13.5%)

ⓘ 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 · 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: $14,287
• − Mortgage interest: −$8,397
• − Property taxes: −$2,678
• − Insurance: −$750
• − Repairs & maintenance: −$1,143
• − Management: −$1,143
• − Depreciation: −$4,361
• Taxable loss: −$4,183
• Est. tax savings @ 24.0%: +$1,004
• After-tax cash flow: $-569/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: Limestone Chsd 310
• NCES district ID: 1722950
• Math proficiency: 25% ▲ 5.00%
• Reading proficiency: 35% ▲ 4.00%
• Median HH income: $49,759
• Composite: 28.99/100
• National rank: #11932
• State rank: #486 of 919 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

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%

Not yet ingested

• Political lean: —
• Race & ethnicity: —
• Common origin: —
• Civics: —

Market trends

• HPI YoY: —
• Current HPI: —
• Rent YoY: —
• Metro: —
• 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

2 events — show timeline

• 2026-05-11 Pending — RMLSA as Distributed by MLS Grid
• 2026-05-07 Listed $149,900 RMLSA as Distributed by MLS Grid

Property tax history

+2.6%/yr

Latest (2024): $2,678 · +9.3% YoY. Source: county tax records.