1214 N Sheridan Rd · Peoria, IL 61606

$70,000

4 bd · 4.0 ba · 2,303 sqft · MultiFamily public records · 2 Days on market

Built 1900 7,405 sqft lot ↓ 18% since listing

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Why this score? — see what drove the D 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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• 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: 4 units. confirmed

Listing remarks MLS

Newly renovated interiors throughout this 4 unit investment property. Updates include HVAC, plumbing, electrical, paint and flooring. 2 units currently occupied and 2 vacant allowing for cash flow with future tenant selection. High demand neighborhood in close proximity to hospital area and Bradley Campus.

Key facts

• Residential lot
• Vacant 4-plex
• Utilities available

Tags

• VACANT 4-PLEX
• RESIDENTIAL LOT
• UTILITIES AVAILABLE
• CONVENIENT ACCESS
• SIGNIFICANT RENOVATION
• EXISTING STRUCTURE

Property features AI

Finance

• Other: Zoning: MULTI
• Financial info: Special service area: No; Property contains 4 units

Exterior

• Parking: Detached garage; 3 garage spaces (3 in garage); Total of 5 parking spaces
• Utilities: Public water; Public sewer
• Home design: Two- to four-unit multifamily property; Converted property; Fee simple ownership; 100+ years old; Not rebuilt or rehabbed
• Construction: Constructed with non-standard/other materials
• Exterior features: Level lot; Lot dimensions approximately 50 x 150

Interior

• Kitchen: No appliances listed for units
• Bedrooms: Four 1-bedroom units (each unit listed as 1 bedroom)
• Bathrooms: 4 full bathrooms (one per unit)
• Heating & cooling: Electric heating; Steam heating
• Interior features: 8 total rooms; Cellar and partial basement; Water heater (gas)
• Laundry & utility: Tenant pays utilities (varies by unit: listed as 'Other')

🏷️ Possibly a rental listed for sale. The $70,000 price doesn't fit this home's estimated sale value (~$154,301) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 4 × 2-bed/4.0-bath units multifamily listed at $70k.

Deal economics

• At list price, monthly cash flow is $3k ($35k/yr) — positive. Per door: $725/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $70k).
• Cap rate 56.0% 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: Franklin Primary School (math 2% / reading 2%, grade F, #1,927 of 2,056 statewide, top 100%, 393 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: 33 active listings in the ZIP; 2 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 $4,516/mo this rent would consume 138% of the median local household income ($39k/yr) (locally 620% 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 $484 of loan paydown is wiped out by about $2k 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 $20k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.
• 5 sale attempts since 23y 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 4.7% of price; built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $70,000

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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?
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: 6.45% ✓
• Cap rate: 55.98%
• Cash-on-cash: 177.46%
• DSCR: 8.90
• GRM: 1.3

CMA / ARV

• ARV (on-the-fly): $154,301
• Comps found: 6

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1504 N Linn St	0.47mi	4/2.0	2,268 (-2%)	1mo	$23,000	$10	67
1104 N Orange St	0.18mi	5/3.0 (+1)	2,127 (-8%)	8mo	$125,000	$59	64
1213 N University St	0.53mi	5/3.0 (+1)	2,380 (+3%)	8mo	$225,000	$95	54
911 W Russell St	0.29mi	4/2.0	2,628 (+14%)	1mo	$95,000	$36	54
1206 N Elmwood Ave	0.58mi	3/2.0 (-1)	2,308 (+0%)	14mo	$154,000	$67	48
905 N Sheridan Rd	0.32mi	3/3.0 (-1)	2,050 (-11%)	16mo	$185,000	$90	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: —
• Equity multiple: 9.85×
• Total profit: $173,448
• Equity at exit: $10,437

10-year hold

• IRR: —
• Equity multiple: 20.87×
• Total profit: $389,489
• Equity at exit: $6,052

Cash invested: $19,600 (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 61606

• Home prices YoY: -34.0%
• Active inventory: 33
• Price-to-rent: 5.2×

Monthly cashflow live

• Estimated rent: $4,516 high
• Mortgage (P&I): −$367
• Tax from tax record: −$273 /mo · $3,274/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$948
• Net cashflow: $2,899

Break-even live

Break-even rent $847

Max offer price $70,000

Occupancy floor 31%

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

Units	Beds	Baths	Est. rent
▸ 4× units	2	4	$4,516
Total (4 units)			$4,516

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: $17,500
• Closing costs: $2,100
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1806 N Peoria Ave Peoria, IL	4.0	1.5	1668	$894	$0.54	13d	1	0.74mi
1816 W Callender Ave Peoria, IL	3.0	2.0	1628	$1,650	$1.01	44d	1	1.21mi

Listing history 3 events

1. 2026-06-19
   days on market $70,000 Active 2 DOM
2. 2026-06-17
   remarks 556-char remark
3. 2026-06-17
   listed $70,000 Active 1 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: $3,274 · $273/mo
• Projected year-2 tax: $3,274 · $273/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 3/10 Moderate FEMA zone X · 20% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥105°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: $54,192
• − Mortgage interest: −$3,921
• − Property taxes: −$3,274
• − Insurance: −$350
• − Repairs & maintenance: −$4,335
• − Management: −$4,335
• − Depreciation: −$2,036
• Taxable income: $35,940
• Est. tax owed @ 24.0%: −$8,626
• After-tax cash flow: $26,157/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): 6,684
• Household income: $39,196
• Rent vs Own: 57.9% rent · 42.1% own
• Severe rent burden: 620.0

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 (66%)
• Race & ethnicity: White 66% Black 17% Two or more races 9% Hispanic / Latino 8% Asian 3%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Romanian 4% Slovak 2% Lithuanian 2%
• Foreign-born: 4% · Vietnam, Canada
• Languages at home: 94% English-only · Spanish 3% Other Indo-European 1% Chinese 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: ▼ -85.67%
• Current HPI: 166.329
• 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

-17.6% since first listed

21 events — show timeline

• 2026-06-15 Listed $70,000 MRED as Distributed by MLS Grid
• 2024-11-25 Listing Removed — RMLSA as Distributed by MLS Grid
• 2024-11-13 Price Changed — RMLSA as Distributed by MLS Grid
• 2024-10-24 Listed — RMLSA as Distributed by MLS Grid
• 2023-05-23 Sold (Public Records) $155,000 Public Records
• 2023-05-18 Sold (MLS) $155,000 RMLSA as Distributed by MLS Grid
• 2023-03-31 Pending — RMLSA as Distributed by MLS Grid
• 2023-03-26 Listed $160,000 RMLSA as Distributed by MLS Grid
• 2021-08-11 Sold (Public Records) $20,000 Public Records
• 2021-08-11 Sold (MLS) $20,000 RMLSA as Distributed by MLS Grid
• 2021-08-06 Listing Removed — RMLSA as Distributed by MLS Grid
• 2021-08-06 Listing Removed — RMLSA as Distributed by MLS Grid
• 2021-08-06 Listing Removed — RMLSA as Distributed by MLS Grid
• 2021-08-06 Listing Removed — RMLSA as Distributed by MLS Grid
• 2021-08-06 Listing Removed — RMLSA as Distributed by MLS Grid
• 2021-08-06 Listing Removed — RMLSA as Distributed by MLS Grid
• 2021-03-18 Listed $25,000 RMLSA as Distributed by MLS Grid
• 2006-04-13 Sold (Public Records) $74,000 Public Records
• 2003-08-05 Sold (Public Records) $76,000 Public Records
• 2003-07-31 Sold (MLS) $76,000 RMLSA as Distributed by MLS Grid
• 2003-05-20 Listed $84,900 RMLSA as Distributed by MLS Grid

Property tax history

+4.0%/yr

Latest (2025): $3,274 · +6.4% YoY. Source: county tax records.