2433 W Huntington Dr

Peoria, IL 61614

$114,500C

3 bd · 1.0 ba · 1,040 sqft · Built 1958 · SingleFamily · Active · 32 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,209/mo
• Mortgage (P&I): −$600
• Tax + insurance: −$241
• HOA: −$0
• Vac / Maint / Mgmt: −$254
• Net cashflow: $114/mo
• Annual: $1,365/yr
• Cap rate: 7.48%
• Cash-on-cash: 4.26%
• DSCR: 1.19
• 1% rule: 1.06%
• Cash to close: $32,060

Investor read

• This is a 3-bed/1.0-bath single-family listed at $114k.
• At list price, monthly cash flow is $114 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $114k).
• It's been on market 32 days — a 3% lower offer ($111k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $111k (3.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $792 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• 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: Northmoor Primary School (math 27% / reading 32%, grade F, #658 of 2,056 statewide, top 35%, 343 students, 0% FRL); Reservoir Gifted School (math 79% / reading 82%, grade A+, #2 of 665 statewide, top 0%, 277 students, 0% FRL); Richwoods High School (math 30% / reading 35%, grade F, #152 of 693 statewide, top 22%, 1,580 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.
• Zoned-school proficiency averages 48% at this address vs 12% district-wide (+35 pts) — the actual schools serving this property are materially stronger than the Peoria SD 150 average implies; a family-tenant draw the district grade alone would hide.
• Watch-outs: built in 1958 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: Rents rising fast (+10.3%/yr); 154 active listings in the ZIP; 12 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); 42% of comp listings sitting > 30 days — soft ceiling on asking rent; 73 units permitted in Peoria County in 2024 (0 in 5+ unit buildings).
• Peoria County population projected at -11% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 2 sale attempts since 4y 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.
• Current owner paid $61k; list at $114k implies a 88% gain — meaningful room to come down on a strong offer.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $32k cash investment doubles in ~10 years — after that, you're playing with house money.
• Cap rate 7.5% vs local median 5.5% 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.

Questions for listing agent

• It's been on market 32 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• Built in 1958 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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?
• 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.
• 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.
• 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.