721 E Seneca Pl · Peoria, IL 61603

$35,000

2 bd · 1.0 ba · 624 sqft · SingleFamily public records · 4 Days on market

Built 1930 5,227 sqft lot Est $51k · 31% under ↓ 42% since listing

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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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• 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

Listing remarks MLS

AMAZING CONDITION, GREAT PRICE, MOVE RIGHT IN! 2 BEDROOMS, FULL BASEMENT WITH FINISHED DEN, NEWER WINDOWS, NEW DRIVEWAY, NEW FLOORING, NEW PORCH LIGHTS, HARDWOOD UNDER FLOORING IN LIVING & 2 BEDOROMS. A MUST SEE!

Key facts

• Large front porch
• Cottage style ranch
• Fenced in yard

Tags

• COTTAGE STYLE RANCH
• LARGE FRONT PORCH
• COVERED BACK PORCH
• FENCED IN YARD
• CONCRETE DRIVEWAY

Property features AI

Exterior

• Parking: Detached garage (1 car); On-street parking; Paved parking
• Utilities: Public water; Public sewer
• Home design: Single family residence; Shingle roof; Built in 1930; Multiple levels (main, upper, lower, basement, additional level, third floor)
• Construction: Shingle roof
• Exterior features: Fenced yard; Level lot; Paved road

Interior

• Kitchen: Kitchen
• Bedrooms: 2 bedrooms (bedrooms on main level)
• Flooring: Laminate (living room); Vinyl (kitchen); Other (bedrooms)
• Bathrooms: 1 full bathroom
• Heating & cooling: Central air; Forced air heating; Gas water heater
• Interior features: Cable available; Full basement
• Laundry & utility: Washer, Dryer

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $35k.

Deal economics

• At list price, monthly cash flow is $432 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($926 rent vs $35k).
• Cap rate 21.1% 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+, 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: Von Steuben Middle School (math 0% / reading 0%, grade F, #665 of 665 statewide, top 100%, 269 students, 0% FRL); Peoria High School (math 4% / reading 7%, grade F, #609 of 693 statewide, top 88%, 1,447 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: Rents rising (+3.5%/yr); 104 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 14d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 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 $242 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 + 3.5% rent growth), your $10k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 17y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Watch-outs: property tax is 3.5% of price; built in 1930 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $35,000

Questions for the listing agent

1. Built in 1930 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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: 2.65% ✓
• Cap rate: 21.12%
• Cash-on-cash: 52.94%
• DSCR: 3.36
• GRM: 3.1

CMA / ARV

• ARV (on-the-fly): $50,544
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
729 E Seneca Pl	0.02mi	2/1.0	620 (-1%)	5mo	$69,500	$112	94
900 E Virginia Ave	0.22mi	2/1.0	616 (-1%)	7mo	$20,000	$32	82
713 E Gift Ave	0.07mi	2/1.0	676 (+8%)	7mo	$56,500	$84	77
720 E Gift Ave	0.09mi	2/1.0	700 (+12%)	6mo	$72,500	$104	70
2137 N Prospect Rd	0.60mi	2/1.0	623 (-0%)	6mo	$29,000	$47	67
907 E Gift Ave	0.18mi	2/1.0	676 (+8%)	13mo	$55,000	$81	66
1118 E Melbourne Ave	0.42mi	1/— (-1)	648 (+4%)	4mo	$12,500	$19	65
814 E Gift Ave	0.14mi	2/1.0	688 (+10%)	14mo	$57,000	$83	64
2709 N Springdale Ave	0.52mi	1/1.0 (-1)	650 (+4%)	0mo	$83,000	$128	64
1109 E Gift Ave	0.30mi	2/1.0	672 (+8%)	21mo	$46,250	$69	56
2627 N California Ave	0.22mi	1/1.0 (-1)	677 (+8%)	21mo	$41,250	$61	54
1101 E Melbourne Ave	0.40mi	3/1.0 (+1)	680 (+9%)	10mo	$41,000	$60	53

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: 51.6%
• Equity multiple: 3.28×
• Total profit: $22,371
• Equity at exit: $5,219

10-year hold

• IRR: 57.2%
• Equity multiple: 6.82×
• Total profit: $57,038
• Equity at exit: $3,026

Cash invested: $9,800 (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: 3.1×

Monthly cashflow live

• Estimated rent: $926 high
• Mortgage (P&I): −$184
• Tax from tax record: −$101 /mo · $1,215/yr
• Insurance: −$15
• HOA: −$0
• Vacancy / Maint / Mgmt: −$195
• Net cashflow: $432

Break-even live

Break-even rent $379

Max offer price $35,000

Occupancy floor 48%

Sensitivity live

Price	-10% $452	-5% $442	+0% $432	+5% $422	+10% $413
Rent	-10% $359	-5% $396	+0% $432	+5% $469	+10% $505
Rate	-1.0pp $450	-0.5pp $441	base $432	+0.5pp $423	+1.0pp $414

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: $8,750
• Closing costs: $1,050
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1505 N Peoria Ave Peoria, IL	1.0	1.0	525	$1,006	$1.92	14d	4	1.08mi
905 W Thrush Ave Peoria, IL	2.0	1.0	750	$950	$1.27	21d	1	1.20mi
2214 N Linsley St Peoria, IL	2.0	1.0	575	$550	$0.96	44d	1	1.35mi
811 E Lake Ave Peoria Heights, IL	2.0	1.0	576	$875	$1.52	14d	1	1.36mi
W Crestwood Dr Peoria, IL	1.0–2.0	1.0	800	$975	$1.22	14d	4	1.49mi

Listing history 4 events

1. 2026-06-09
   status $35,000 Pending 4 DOM
2. 2026-06-08
   days on market $35,000 Active 4 DOM
3. 2026-06-07
   remarks 343-char remark
4. 2026-06-07
   listed $35,000 Active 3 DOM

ⓘ 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: $1,215 · $101/mo
• Projected year-2 tax: $1,215 · $101/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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: $11,115
• − Mortgage interest: −$1,961
• − Property taxes: −$1,215
• − Insurance: −$175
• − Repairs & maintenance: −$889
• − Management: −$889
• − Depreciation: −$1,018
• Taxable income: $4,967
• Est. tax owed @ 24.0%: −$1,192
• After-tax cash flow: $3,996/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

-41.6% since first listed

8 events — show timeline

• 2026-06-04 Listed $35,000 RMLSA as Distributed by MLS Grid
• 2023-07-19 Sold (Public Records) $65,000 Public Records
• 2023-07-14 Sold (MLS) $65,000 RMLSA as Distributed by MLS Grid
• 2023-06-19 Pending — RMLSA as Distributed by MLS Grid
• 2023-06-13 Listed $69,900 RMLSA as Distributed by MLS Grid
• 2010-04-19 Sold (Public Records) $56,000 Public Records
• 2010-04-05 Sold (MLS) $56,000 RMLSA as Distributed by MLS Grid
• 2009-05-04 Listed $59,900 RMLSA as Distributed by MLS Grid

Property tax history

+2.9%/yr

Latest (2025): $1,215 · +10.8% YoY. Source: county tax records.