1822 N Missouri Ave · Peoria, IL 61603

$41,000

2 bd · 1.0 ba · 660 sqft · SingleFamily public records · 87 Days on market

Built 1925 4,260 sqft lot $62/sqft · 8% below area Est $45k · 8% 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 +11.2/15.0
• 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

This home was renovated a little over a year ago. Sold as is. Sold AS A PACKAGE with 1817 New York Ave, 1906 N Missouri Ave, 1324 Underhill St, 2226 N Ellis. Tenant occupied- 24 hours notice required

Key facts

• 4,260 sq ft lot
• Garage
• Built 1925

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $41k.

Deal economics

• At list price, monthly cash flow is $477 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($980 rent vs $41k).
• Recommended offer: $39k (6.0% below list) — sets the bar for market timing.
• Cap rate 20.3% 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; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 40% 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $283 of loan paydown is wiped out by about $1k 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 $11k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 87 days — a 6% lower offer ($39k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 3y ago; this cycle's ask has dropped $9k (18%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $25k; list at $41k implies a 64% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1925 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $38,540 (6.0% below list)

Questions for the listing agent

1. It's been on market 87 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 1925 — 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: 2.39% ✓
• Cap rate: 20.26%
• Cash-on-cash: 49.88%
• DSCR: 3.22
• GRM: 3.5

CMA / ARV

• ARV (median comp): $44,651
• List price: $41,000
• Delta: -8.18%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
417 W Nebraska Ave	0.52mi	2/1.0	672 (+2%)	8mo	$50,000	$74	66
713 E Gift Ave	0.72mi	2/1.0	676 (+2%)	7mo	$56,500	$84	57
2137 N Prospect Rd	0.71mi	2/1.0	623 (-6%)	6mo	$29,000	$47	52
720 E Gift Ave	0.70mi	2/1.0	700 (+6%)	6mo	$72,500	$104	52
2222 N Ellis St	0.74mi	2/1.0	704 (+7%)	4mo	$35,000	$50	51
900 E Virginia Ave	0.72mi	2/1.0	616 (-7%)	7mo	$20,000	$32	50
600 E Virginia Ave	0.61mi	1/1.0 (-1)	720 (+9%)	4mo	$59,900	$83	48
814 E Gift Ave	0.75mi	2/1.0	688 (+4%)	14mo	$57,000	$83	46
2627 N California Ave	0.70mi	1/1.0 (-1)	677 (+3%)	20mo	$41,250	$61	41
2309 N Flora Ave	0.74mi	1/1.0 (-1)	600 (-9%)	8mo	$47,000	$78	39

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: 48.2%
• Equity multiple: 3.11×
• Total profit: $24,260
• Equity at exit: $6,113

10-year hold

• IRR: 54.0%
• Equity multiple: 6.43×
• Total profit: $62,370
• Equity at exit: $3,545

Cash invested: $11,480 (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: 3.5×

Monthly cashflow live

• Estimated rent: $980 high
• Mortgage (P&I): −$215
• Tax from tax record: −$65 /mo · $781/yr
• Insurance: −$17
• HOA: −$0
• Vacancy / Maint / Mgmt: −$206
• Net cashflow: $477

Break-even live

Break-even rent $376

Max offer price $41,000

Occupancy floor 46%

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: $10,250
• Closing costs: $1,230
• Reserves months: —
• Total cash needed: —

Rent comps 5 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	13d	4	0.34mi
905 W Thrush Ave Peoria, IL	2.0	1.0	750	$950	$1.27	20d	1	0.96mi
2214 N Linsley St Peoria, IL	2.0	1.0	575	$550	$0.96	43d	1	1.09mi
905 N Sheridan Rd Unit F Peoria, IL	1.0	1.0	650	$900	$1.38	43d	1	1.10mi
1703 N Valley Ave Peoria, IL	2.0	1.0	676	$1,200	$1.78	13d	1	1.12mi

Listing history 22 events

1. 2026-06-19
   days on market $41,000 Active 87 DOM
2. 2026-06-18
   days on market $41,000 Active 86 DOM
3. 2026-06-17
   days on market $41,000 Active 85 DOM
4. 2026-06-16
   days on market $41,000 Active 84 DOM
5. 2026-06-15
   days on market $41,000 Active 83 DOM
6. 2026-06-14
   days on market $41,000 Active 81 DOM
7. 2026-06-13
   days on market $41,000 Active 80 DOM
8. 2026-06-10
   days on market $41,000 Active 78 DOM
9. 2026-06-09
   days on market $41,000 Active 77 DOM
10. 2026-06-08
    days on market $41,000 Active 76 DOM
11. 2026-06-07
    days on market $41,000 Active 75 DOM
12. 2026-06-03
    days on market $41,000 Active 71 DOM
13. 2026-06-02
    days on market $41,000 Active 70 DOM
14. 2026-06-01
    days on market $41,000 Active 69 DOM
15. 2026-05-31
    days on market $41,000 Active 68 DOM
16. 2026-05-30
    days on market $41,000 Active 67 DOM
17. 2026-03-24
    listed $49,990 Active 200-char remark

    Show marketing remark (200 chars)

    This home was renovated a little over a year ago. Sold as is. Sold AS A PACKAGE with 1817 New York Ave, 1906 N Missouri Ave, 1324 Underhill St, 2226 N Ellis. Tenant occupied- 24 hours notice required

18. 2023-08-18
    soldstatus $25,000 Closed 237-char remark

    Show marketing remark (237 chars)

    2 bedroom, 1 bathroom home for sale in the heart of Peoria. Being sold AS IS. This listing can be purchased as part of a package of 9 properties. All data is deemed credible but not guaranteed. Contact your agent for more information.

19. 2023-07-20
    status Pending 237-char remark

    Show marketing remark (237 chars)

    2 bedroom, 1 bathroom home for sale in the heart of Peoria. Being sold AS IS. This listing can be purchased as part of a package of 9 properties. All data is deemed credible but not guaranteed. Contact your agent for more information.

20. 2023-07-14
    listed $27,500 Active 237-char remark

    Show marketing remark (237 chars)

    2 bedroom, 1 bathroom home for sale in the heart of Peoria. Being sold AS IS. This listing can be purchased as part of a package of 9 properties. All data is deemed credible but not guaranteed. Contact your agent for more information.

21. 2018-10-04
    soldstatus $276,000
22. 1999-08-03
    soldstatus $25,000

ⓘ 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: $781 · $65/mo
• Projected year-2 tax: $856 · $71/mo
• Expected delta: +$75/yr (+$6/mo · 9.6%)

ⓘ 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: $11,763
• − Mortgage interest: −$2,297
• − Property taxes: −$781
• − Insurance: −$205
• − Repairs & maintenance: −$941
• − Management: −$941
• − Depreciation: −$1,193
• Taxable income: $5,406
• Est. tax owed @ 24.0%: −$1,297
• After-tax cash flow: $4,429/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

+100.0% since first listed

6 events — show timeline

• 2026-03-24 Listed $49,990 RMLSA as Distributed by MLS Grid
• 2023-08-18 Sold (MLS) $25,000 RMLSA as Distributed by MLS Grid
• 2023-07-20 Pending — RMLSA as Distributed by MLS Grid
• 2023-07-14 Listed $27,500 RMLSA as Distributed by MLS Grid
• 2018-10-04 Sold (Public Records) $276,000 Public Records
• 1999-08-03 Sold (Public Records) $25,000 Public Records

Property tax history

+0.5%/yr

Latest (2024): $781 · +4.8% YoY. Source: county tax records.