309 W Hanssler PI · Peoria, IL 61615

$24,999

3 bd · 1.0 ba · 1,468 sqft · SingleFamily public records · 4 Days on market

Built 1930 6,400 sqft lot

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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

Listing remarks

Calling all investors! Looking for your next project? This home is in need of a full rehab, fix & flip or buy and hold. Featuring 3beds/1bath with over 1,468 interior sqft. Bring your vision to this project. All personal items will be staying in the home. AS-IS.

Key facts

• 6,400 sq ft lot
• 2 garage spots
• Built 1930

Property features AI

Finance

• Other: Possession available at closing or immediate; Some photos are virtually staged
• HOA & community: No master association fee required

Exterior

• Parking: Detached garage (2 garage spaces, 2 total parking spaces)
• Utilities: Public water; Public sewer
• Home design: Detached single-family home; 1.5-story design; Fee simple ownership; Built before 1978
• Construction: Vinyl siding; Estimated living area; 91–100 years old
• Exterior features: Lot dimensions approximately 64 x 100; Lot less than 0.25 acre

Interior

• Kitchen: Kitchen (Main level) — 10 x 12
• Bedrooms: Master bedroom (Main level) — 12 x 14; Bedroom 2 (Main level) — 11 x 12; Bedroom 3 (Main level) — 10 x 11
• Bathrooms: 1 full bathroom
• Heating & cooling: Natural gas heating; Central air conditioning
• Interior features: 7 total rooms; Unfinished full basement
• Laundry & utility: Dedicated laundry room

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $25k.

Deal economics

• At list price, monthly cash flow is $326 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $25k).
• Cap rate 44.1% 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+, 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: 127 active listings in the ZIP; 17 comparable units currently listed for rent nearby; rentals leasing fast (median 14d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 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 $173 of loan paydown is wiped out by about $750 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 $7k 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.

Risks & watch-outs

• Watch-outs: flood insurance adds $460/mo; built in 1930 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $24,999

Questions for the listing agent

1. Built in 1930 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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. 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?
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: 4.86% ✓
• Cap rate: 44.06%
• Cash-on-cash: 134.90%
• DSCR: 7.00
• GRM: 1.7

CMA / ARV

• ARV (on-the-fly): $77,804
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
309 W Hanssler PI	0.00mi	3/1.0	1,468 (0%)	1mo	$25,000	$17	99
524 W Hanssler Pl	0.19mi	3/1.5	1,405 (-4%)	2mo	$74,000	$53	80
2635 N Peoria Ave	0.33mi	3/1.0	1,366 (-7%)	2mo	$93,000	$68	71
2223 N Sheridan Rd	0.49mi	3/1.0	1,412 (-4%)	1mo	$53,000	$38	70
504 W Archer Ave	0.36mi	3/1.0	1,344 (-8%)	3mo	$26,000	$19	67
2931 N Saint Philomena Ct	0.56mi	3/2.0	1,427 (-3%)	1mo	$156,000	$109	65
2914 N Isabell Ave	0.68mi	3/1.0	1,420 (-3%)	1mo	$53,100	$37	62
1117 W Gift Ave	0.68mi	3/2.0	1,426 (-3%)	1mo	$5,000	$4	58
927 W Loucks Ave	0.54mi	2/1.0 (-1)	1,372 (-6%)	2mo	$90,000	$66	57
610 W Hudson St	0.45mi	3/2.0	1,636 (+11%)	0mo	$145,500	$89	56
308 E Corrington Ave	0.39mi	2/1.0 (-1)	1,284 (-12%)	2mo	$94,600	$74	54
2208 N Ellis St	0.48mi	3/2.0	1,261 (-14%)	3mo	$44,000	$35	48

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: 54.8%
• Equity multiple: 3.43×
• Total profit: $17,042
• Equity at exit: $3,727

10-year hold

• IRR: 60.1%
• Equity multiple: 7.12×
• Total profit: $42,836
• Equity at exit: $2,161

Cash invested: $7,000 (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 61615

• Home prices YoY: -32.2%
• Active inventory: 127
• Price-to-rent: 1.7×

Monthly cashflow live

• Estimated rent: $1,215 high
• Mortgage (P&I): −$131
• Tax est. 1.5%: −$31 /mo · $375/yr
• Insurance: −$10
• Flood insurance flood zone: −$460 /mo · $5,525/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$255
• Net cashflow: $326

Break-even live

Break-even rent $801

Max offer price $24,999

Occupancy floor 68%

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: $6,250
• Closing costs: $750
• Reserves months: —
• Total cash needed: —

Rent comps 17 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
814 W McClure Ave Peoria, IL	3.0	1.0	1148	$1,100	$0.96	43d	1	0.47mi
2210 Knoxville Ave #2212 Peoria, IL	2.0	1.0	1284	$950	$0.74	43d	1	0.47mi
308 E Archer Ave Peoria, IL	3.0	1.0	1444	$950	$0.66	13d	1	0.52mi
505 E Virginia Ave Peoria, IL	2.0	2.0	1204	$758	$0.63	13d	1	0.52mi
913 W McClure Ave Peoria, IL	3.0	1.0	1400	$1,200	$0.86	21d	1	0.54mi
903 W Brons Ave Peoria, IL	3.0	1.0	971	$995	$1.02	43d	1	0.66mi
3108 N Parish Ave Peoria, IL	3.0	1.5	967	$1,750	$1.81	43d	1	0.67mi
1413 W Gilbert Ave Peoria, IL	2.0	2.0	1428	$1,500	$1.05	13d	1	0.90mi
1806 N Peoria Ave Peoria, IL	4.0	1.5	1668	$894	$0.54	13d	1	0.91mi
2023 N Underhill St Peoria, IL	3.0	1.0	1050	$1,200	$1.14	13d	1	0.92mi
W Crestwood Dr Peoria, IL	1.0–2.0	1.0	800	$975	$1.22	13d	4	1.06mi
2121 N Prospect Rd Peoria, IL	3.0	1.0	946	$802	$0.85	13d	1	1.20mi
501 W Columbia Ter Unit 3 Peoria, IL	3.0	1.0	1500	$1,400	$0.93	43d	1	1.22mi
901 NE Glen Oak Ave Unit 2 Peoria, IL	3.0	1.0	1120	$1,200	$1.07	21d	1	1.28mi
126 E Lake Ave Peoria, IL	2.0	1.0	950	$1,050	$1.11	13d	9	1.29mi
228 E Oak Cliff Ct Unit A2 Peoria, IL	2.0	1.0	1000	$1,050	$1.05	13d	1	1.39mi
416 W Main St Unit A Peoria, IL	2.0	1.0	1050	$950	$0.90	43d	1	1.49mi

Listing history 2 events

1. 2026-05-12
   status Pending
2. 2026-05-08
   listed $24,999 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone AE · 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: $14,577
• − Mortgage interest: −$1,400
• − Property taxes: −$375
• − Insurance: −$5,650
• − Repairs & maintenance: −$1,166
• − Management: −$1,166
• − Depreciation: −$727
• Taxable income: $4,092
• Est. tax owed @ 24.0%: −$982
• After-tax cash flow: $2,935/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): 23,523
• Household income: $79,817
• Rent vs Own: 41.3% rent · 58.7% own
• Severe rent burden: 833.0

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 (72%)
• Race & ethnicity: White 72% Asian 10% Black 8% Hispanic / Latino 7% Two or more races 5%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Italian 3% Romanian 3% Lithuanian 2%
• Foreign-born: 13% · China, Canada, Jamaica
• Languages at home: 83% English-only · Other Indo-European 4% Spanish 4% Chinese 3%

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: ▼ -79.30%
• Current HPI: 166.9745
• 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

2 events — show timeline

• 2026-05-12 Pending — MRED as Distributed by MLS Grid
• 2026-05-08 Listed $24,999 MRED as Distributed by MLS Grid

Property tax history

+4.7%/yr

Latest (2024): $1,914 · +7.5% YoY. Source: county tax records.