2106 W Millman St · Peoria, IL 61605

$59,000

2 bd · 1.5 ba · 1,068 sqft · SingleFamily public records · 67 Days on market

Built 1920 3,750 sqft lot $55/sqft · 68% above 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
• Appreciation +5.3/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.1/10.0

Listing remarks MLS

Investors! Don't miss this excellent investment opportunity. This well-maintained 2-bedroom, 1-bathroom home is currently tenant-occupied with a solid lease in place through October 2026 at $990/month. 13.1% Cash on Cash return or 32% with loan. The property was updated prior to rental, updated LVP laminate flooring, spacious rooms, furnace forced air heating, and basement. Tenant pays all utilities, ensuring great NOI and minimal owner expenses. Add this low-maintenance turnkey property to your portfolio today. Subject to Tenant Rights. 24-hour notice required for all showings.

Key facts

• 3,750 sq ft lot
• Parking
• Built 1920

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath single-family listed at $59k.

Deal economics

• At list price, monthly cash flow is $399 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($986 rent vs $59k).
• Recommended offer: $55k (6.0% below list) — sets the bar for market timing.
• Cap rate 14.4% 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+, schools F, 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.
• Market conditions: 42 active listings in the ZIP; 22 comparable units currently listed for rent nearby; rentals leasing fast (median 14d on market — plan ~1-2 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 73 units permitted in Peoria County in 2024 (0 in 5+ unit buildings).
• This rent runs 45% of the median local income ($26k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $781 of equity ($408 loan paydown + $373 appreciation (0.6% local appreciation)).
• Peoria County population projected at -11% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (0.6% appreciation + 3.0% rent growth), your $17k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 67 days — a 6% lower offer ($55k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 23y ago; this cycle's ask has dropped $21k (26%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $30k; list at $59k implies a 97% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $55,460 (6.0% below list)

Questions for the listing agent

1. It's been on market 67 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
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: 1.67% ✓
• Cap rate: 14.41%
• Cash-on-cash: 28.99%
• DSCR: 2.29
• GRM: 5.0

CMA / ARV

• ARV (median comp): $35,141
• List price: $59,000
• Delta: 67.90%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2123 W Antoinette St	0.35mi	2/1.0	1,036 (-3%)	1mo	$22,000	$21	76
2115 W Proctor St	0.29mi	3/1.0 (+1)	1,050 (-2%)	5mo	$5,900	$6	72
2320 W Garden St	0.54mi	2/1.0	1,096 (+3%)	3mo	$20,000	$18	66
1713 W Smith St	0.43mi	2/1.0	1,009 (-6%)	4mo	$35,250	$35	65
2118 W Sherman Ave	0.57mi	3/1.0 (+1)	1,075 (+1%)	3mo	$85,000	$79	63
2027 W Malone Ave	0.54mi	3/1.0 (+1)	1,079 (+1%)	4mo	$27,000	$25	62
801 S Warren St	0.45mi	3/1.0 (+1)	1,026 (-4%)	4mo	$11,000	$11	62
924 S Warren St	0.54mi	2/1.0	1,162 (+9%)	2mo	$39,000	$34	57
2111 W Callender Ave	0.72mi	3/1.0 (+1)	1,050 (-2%)	1mo	$43,500	$41	56
2000 W Antoinette St	0.39mi	2/1.0	924 (-14%)	2mo	$57,500	$62	55
1200 S Matthew St	0.68mi	2/1.0	980 (-8%)	5mo	$49,500	$51	48
2507 W Moss Ave	0.63mi	2/1.0	944 (-12%)	3mo	$120,000	$127	46

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

0.63% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 30.6%
• Equity multiple: 2.54×
• Total profit: $25,463
• Equity at exit: $19,022

10-year hold

• IRR: 33.5%
• Equity multiple: 4.92×
• Total profit: $64,692
• Equity at exit: $24,434

Cash invested: $16,520 (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 61605

• Home prices YoY: 0.4%
• Active inventory: 42
• Price-to-rent: 5.0×

Monthly cashflow live

• Estimated rent: $986 high
• Mortgage (P&I): −$309
• Tax from tax record: −$46 /mo · $548/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$207
• Net cashflow: $399

Break-even live

Break-even rent $481

Max offer price $59,000

Occupancy floor 55%

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: $14,750
• Closing costs: $1,770
• Reserves months: —
• Total cash needed: —

Rent comps 22 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2317 W Martin Luther King Junior Dr Unit 2-214 Peoria, IL	2.0	1.0	807	$800	$0.99	44d	1	0.28mi
2317 W Martin Luther King Junior Dr Peoria, IL	1.0–2.0	1.0	697	$800	$1.15	13d	3	0.28mi
2116 W Proctor St Peoria, IL	2.0	1.0	912	$879	$0.96	13d	1	0.32mi
1540 W Kettelle St Peoria, IL	3.0	1.0	1001	$748	$0.75	13d	1	0.43mi
2807 W Howett St Peoria, IL	3.0	2.0	1388	$1,550	$1.12	44d	1	0.46mi
928 S Matthew St Peoria, IL	2.0	1.0	1080	$748	$0.69	13d	1	0.48mi
2320 W Garden St Peoria, IL	2.0	1.0	1096	$1,000	$0.91	44d	1	0.54mi
945 S Shelley St Peoria, IL	1.0–3.0	1.0–2.0	929	$910	$0.98	13d	1	0.55mi
2822 W Antoinette St Peoria, IL	2.0	1.0	720	$1,149	$1.60	21d	1	0.73mi
1401 W Adrian G Hinton Ave Peoria, IL	2.0	1.0	1100	$775	$0.70	44d	1	0.74mi
3001 W Wiswall St Peoria, IL	2.0	1.0	1000	$1,100	$1.10	13d	1	0.76mi
1507 S Livingston St Peoria, IL	2.0	1.0	842	$946	$1.12	44d	1	0.77mi
1220 W John H Gwynn Jr Ave Peoria, IL	2.0	1.0	853	$745	$0.87	21d	1	0.82mi
3031 W Wiswall St Peoria, IL	2.0	1.0	1100	$1,100	$1.00	13d	1	0.84mi
906 S Tonti Cir Peoria, IL	2.0	1.0	780	$950	$1.22	13d	1	0.92mi
2804 W Humboldt St Peoria, IL	3.0	1.0	1060	$995	$0.94	13d	1	0.95mi
2601 W Kenwood Ave West Peoria, IL	3.0	1.5	1405	$1,500	$1.07	13d	1	1.06mi
214 Pecan St Peoria, IL	2.0	1.0	1050	$1,595	$1.52	13d	1	1.18mi
1019 N Farmington Rd Unit 1017 Peoria, IL	3.0	1.0	1304	$1,600	$1.23	44d	1	1.24mi
1825 S Kneer Ave Peoria, IL	2.0	1.0	858	$858	$1.00	13d	1	1.34mi
2916 W Meidroth St Peoria, IL	2.0	1.0	1125	$1,049	$0.93	21d	1	1.44mi
812 SW Washington St Unit 2 Peoria, IL	2.0	1.0	700	$1,275	$1.82	13d	1	1.50mi

Listing history 25 events

1. 2026-06-19
   days on market $59,000 Active 67 DOM
2. 2026-06-18
   pricedays on market $59,000 Active 66 DOM
3. 2026-06-17
   days on market $69,900 Active 65 DOM
4. 2026-06-16
   days on market $69,900 Active 64 DOM
5. 2026-06-15
   days on market $69,900 Active 63 DOM
6. 2026-06-14
   days on market $69,900 Active 61 DOM
7. 2026-06-13
   days on market $69,900 Active 60 DOM
8. 2026-06-10
   days on market $69,900 Active 58 DOM
9. 2026-06-09
   days on market $69,900 Active 57 DOM
10. 2026-06-08
    days on market $69,900 Active 56 DOM
11. 2026-06-07
    days on market $69,900 Active 55 DOM
12. 2026-06-03
    days on market $69,900 Active 51 DOM
13. 2026-06-02
    days on market $69,900 Active 50 DOM
14. 2026-06-01
    days on market $69,900 Active 49 DOM
15. 2026-05-31
    days on market $69,900 Active 48 DOM
16. 2026-05-30
    days on market $69,900 Active 47 DOM
17. 2026-04-13
    listed $79,900 Active 587-char remark

    Show marketing remark (587 chars)

    Investors! Don't miss this excellent investment opportunity. This well-maintained 2-bedroom, 1-bathroom home is currently tenant-occupied with a solid lease in place through October 2026 at $990/month. 13.1% Cash on Cash return or 32% with loan. The property was updated prior to rental, updated LVP laminate flooring, spacious rooms, furnace forced air heating, and basement. Tenant pays all utilities, ensuring great NOI and minimal owner expenses. Add this low-maintenance turnkey property to your portfolio today. Subject to Tenant Rights. 24-hour notice required for all showings.

18. 2025-10-03
    historical $990
19. 2025-09-01
    listed $990
20. 2021-08-06
    historical
21. 2005-09-27
    soldstatus $30,000
22. 2005-09-23
    soldstatus $29,900
23. 2005-06-23
    listed $29,900
24. 2003-03-27
    soldstatus $6,500
25. 2003-01-10
    listed $6,000

ⓘ 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: $548 · $46/mo
• Projected year-2 tax: $944 · $79/mo
• Expected delta: +$396/yr (+$33/mo · 72.2%)

ⓘ 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: $11,828
• − Mortgage interest: −$3,305
• − Property taxes: −$548
• − Insurance: −$295
• − Repairs & maintenance: −$946
• − Management: −$946
• − Depreciation: −$1,716
• Taxable income: $4,071
• Est. tax owed @ 24.0%: −$977
• After-tax cash flow: $3,811/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): 13,424
• Household income: $26,392
• Rent vs Own: 57.5% rent · 42.5% own
• Severe rent burden: 1385.0

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 0.61)
• Race & ethnicity: Black 56% White 27% Hispanic / Latino 12% Two or more races 7% Native American 1%
• Hispanic origin (detail): Mexican 8%
• Common ancestry: Lithuanian 1% Iranian 1% Portuguese 1%
• Foreign-born: 4% · Canada, Vietnam
• Languages at home: 92% English-only · Spanish 7%

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: ▲ 0.63%
• Current HPI: 170.5814
• 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

+1231.7% since first listed

9 events — show timeline

• 2026-04-13 Listed $79,900 MRED as Distributed by MLS Grid
• 2025-10-03 Rental Removed $990 TURBOTENANT
• 2025-09-01 Listed for Rent $990 TURBOTENANT
• 2021-08-06 Listing Removed — RMLSA as Distributed by MLS Grid
• 2005-09-27 Sold (Public Records) $30,000 Public Records
• 2005-09-23 Sold (MLS) $29,900 RMLSA as Distributed by MLS Grid
• 2005-06-23 Listed $29,900 RMLSA as Distributed by MLS Grid
• 2003-03-27 Sold (MLS) $6,500 RMLSA as Distributed by MLS Grid
• 2003-01-10 Listed $6,000 RMLSA as Distributed by MLS Grid

Property tax history

-0.0%/yr

Latest (2024): $548 · -33.9% YoY. Source: county tax records.