1631 N Dechman Ave · Peoria, IL 61603

$29,900

2 bd · 1.0 ba · 956 sqft · SingleFamily public records · 13 Days on market

Built 1953 4,791 sqft lot $31/sqft · 25% below area Est $40k · 25% under

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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

Great investment opportunity! This property offers strong potential for rental income, renovation, or resale. Whether you're looking to expand your portfolio or start investing, this home provides a solid foundation with value-add potential. Convenient location and endless possibilities make this a must-see for investors.

Key facts

• 4,791 sq ft lot
• Garage
• Built 1953

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $30k.

Deal economics

• At list price, monthly cash flow is $563 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $30k).
• Cap rate 28.9% 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: Rents rising (+3.5%/yr); 104 active listings in the ZIP; 23 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 43% of comp listings sitting > 30 days — soft ceiling on asking rent; lower-income renter base — watch delinquency; 73 units permitted in Peoria County in 2024 (0 in 5+ unit buildings).
• This rent runs 31% of the median local income ($42k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $207 of loan paydown is wiped out by about $897 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 $8k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: property tax is 4.3% of price; built in 1953 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $29,900

Questions for the listing agent

1. Built in 1953 — 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: 3.55% ✓
• Cap rate: 28.89%
• Cash-on-cash: 80.70%
• DSCR: 4.59
• GRM: 2.3

CMA / ARV

• ARV (median comp): $39,715
• List price: $29,900
• Delta: -24.71%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1631 N Dechman Ave	0.00mi	2/1.0	956 (0%)	0mo	$30,000	$31	100
412 E Republic St	0.45mi	2/1.0	925 (-3%)	1mo	$26,200	$28	73
305 W Nebraska Ave	0.31mi	2/1.0	895 (-6%)	9mo	$19,000	$21	68
716 E Kansas St	0.46mi	2/1.0	896 (-6%)	2mo	$26,666	$30	67
603 E Thrush Ave	0.56mi	3/1.0 (+1)	960 (+0%)	3mo	$30,000	$31	66
1832 N Missouri Ave	0.23mi	2/1.0	1,080 (+13%)	11mo	$44,500	$41	59
2314 N Ellis St	0.75mi	2/1.0	928 (-3%)	3mo	$18,500	$20	58
1833 N California Ave	0.26mi	2/1.0	836 (-13%)	13mo	$12,500	$15	56
316 E Thrush Ave	0.48mi	2/1.0	856 (-10%)	8mo	$47,000	$55	54
1804 N New York Ave	0.32mi	2/1.0	1,090 (+14%)	13mo	$12,500	$11	51
701 E Kansas Ave	0.45mi	3/1.0 (+1)	1,025 (+7%)	16mo	$50,000	$49	49
1316 N Douglas St	0.66mi	3/1.0 (+1)	1,088 (+14%)	11mo	$47,000	$43	32

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: 81.6%
• Equity multiple: 4.77×
• Total profit: $31,597
• Equity at exit: $4,458

10-year hold

• IRR: 85.1%
• Equity multiple: 10.09×
• Total profit: $76,102
• Equity at exit: $2,585

Cash invested: $8,372 (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: 2.3×

Monthly cashflow live

• Estimated rent: $1,061 high
• Mortgage (P&I): −$157
• Tax from tax record: −$106 /mo · $1,274/yr
• Insurance: −$12
• HOA: −$0
• Vacancy / Maint / Mgmt: −$223
• Net cashflow: $563

Break-even live

Break-even rent $349

Max offer price $29,900

Occupancy floor 42%

Sensitivity live

Price	-10% $580	-5% $571	+0% $563	+5% $555	+10% $546
Rent	-10% $479	-5% $521	+0% $563	+5% $605	+10% $647
Rate	-1.0pp $578	-0.5pp $571	base $563	+0.5pp $555	+1.0pp $547

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: $7,475
• Closing costs: $897
• Reserves months: —
• Total cash needed: —

Rent comps 23 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	0.18mi
901 NE Glen Oak Ave Unit 2 Peoria, IL	3.0	1.0	1120	$1,200	$1.07	22d	1	0.40mi
511 W Elizabeth St Unit A Peoria, IL	1.0	1.0	850	$800	$0.94	44d	1	0.60mi
2207 N Ellis St Peoria, IL	2.0	1.0	864	$999	$1.16	14d	1	0.67mi
416 W Main St Unit A Peoria, IL	2.0	1.0	1050	$950	$0.90	44d	1	0.70mi
903 W Brons Ave Peoria, IL	3.0	1.0	971	$995	$1.02	44d	1	0.85mi
911 N Sheridan Rd Unit A4 Peoria, IL	2.0	1.0	825	$850	$1.03	44d	1	0.88mi
911 N Sheridan Rd Unit a1 Peoria, IL	2.0	1.0	825	$850	$1.03	14d	1	0.88mi
2121 N Prospect Rd Peoria, IL	3.0	1.0	946	$802	$0.85	14d	1	0.89mi
905 W Thrush Ave Peoria, IL	2.0	1.0	750	$950	$1.27	22d	1	0.89mi
905 N Sheridan Rd Unit F Peoria, IL	1.0	1.0	650	$900	$1.38	44d	1	0.89mi
812 W Macqueen Ave Peoria, IL	2.0	1.0	822	$795	$0.97	44d	1	0.90mi
737 E Gift Ave Unit 737 Peoria, IL	2.0	1.0	800	$1,125	$1.41	44d	1	0.91mi
1703 N Valley Ave Peoria, IL	2.0	1.0	676	$1,200	$1.78	14d	1	0.96mi
506 Caroline St Unit B Peoria, IL	2.0	1.0	1000	$900	$0.90	14d	1	0.96mi
2214 N Linsley St Peoria, IL	2.0	1.0	575	$550	$0.96	44d	1	1.00mi
2023 N Underhill St Peoria, IL	3.0	1.0	1050	$1,200	$1.14	14d	1	1.03mi
123 SW Jefferson Ave Unit E6W Peoria, IL	2.0	1.0	868	$1,495	$1.72	22d	1	1.04mi
123 SW Jefferson Ave Unit E15SW Peoria, IL	2.0	2.0	1100	$1,750	$1.59	14d	1	1.04mi
311 SW Water St Unit 301 Peoria, IL	1.0	1.0	635	$1,300	$2.05	44d	1	1.38mi
2302 NE Monroe St Peoria, IL	3.0	1.0	1100	$875	$0.80	14d	1	1.44mi
3108 N Parish Ave Peoria, IL	3.0	1.5	967	$1,750	$1.81	44d	1	1.48mi
100 Walnut St Peoria, IL	2.0	2.0	1102	$2,000	$1.81	14d	1	1.49mi

Listing history 2 events

1. 2026-05-03
   status Pending 323-char remark

   Show marketing remark (323 chars)

   Great investment opportunity! This property offers strong potential for rental income, renovation, or resale. Whether you're looking to expand your portfolio or start investing, this home provides a solid foundation with value-add potential. Convenient location and endless possibilities make this a must-see for investors.

2. 2026-04-20
   listed $29,900 Active 323-char remark

   Show marketing remark (323 chars)

   Great investment opportunity! This property offers strong potential for rental income, renovation, or resale. Whether you're looking to expand your portfolio or start investing, this home provides a solid foundation with value-add potential. Convenient location and endless possibilities make this a must-see for investors.

ⓘ 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: $1,274 · $106/mo
• Projected year-2 tax: $1,274 · $106/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: $12,735
• − Mortgage interest: −$1,675
• − Property taxes: −$1,274
• − Insurance: −$150
• − Repairs & maintenance: −$1,019
• − Management: −$1,019
• − Depreciation: −$870
• Taxable income: $6,730
• Est. tax owed @ 24.0%: −$1,615
• After-tax cash flow: $5,141/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

2 events — show timeline

• 2026-05-03 Pending — RMLSA as Distributed by MLS Grid
• 2026-04-20 Listed $29,900 RMLSA as Distributed by MLS Grid

Property tax history

+4.7%/yr

Latest (2024): $1,274 · +4.8% YoY. Source: county tax records.