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    1001 Moss Ave Peoria, IL 61606
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    1001 Moss Ave Peoria, IL 61606

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    • Small apartment buildings
    For Sale
    $440,000
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    Peoria Multi-Family Investment Property For Sale
    $440,000
    3,250 SF

    Peoria Multi-Family Investment Property

    Five-unit apartment building, strong rental income.

    1001 Moss Ave, Peoria, IL 61606
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    Property ID
    US28-2126737
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Small apartment buildings

    Property Details for 1001 Moss Ave

    Property type
    Small apartment buildings

    Description

    This exceptional five-unit apartment building presents a compelling investment opportunity in Peoria, Illinois. Located at 1001 W Moss Avenue, this property boasts a prime location within the 61606 zip code. The building, a historically significant home converted into apartments, offers a blend of character and modern convenience. The five units comprise a diverse mix of layouts: one first-floor one-bedroom, one-bathroom unit currently renting for $975; a second first-floor one-bedroom, one-bathroom unit renting for $650; a second-floor one-bedroom, one-bathroom unit renting for $950; another second-floor one-bedroom, one-bathroom unit renting for $795; and a third-floor two-bedroom, one-bathroom unit commanding $995 in monthly rent. Laundry facilities are conveniently located within the basement for two units and in-unit for the remaining three. The property also features recently renovated front and back porches with new concrete. Ample parking is available with ten spaces, accessible via a shared front drive and rear alley. This property is offered at an asking price of $440,000 and presents a strong potential for immediate cash flow and long-term appreciation. The combination of attractive rental income, convenient location, and recent improvements makes this a truly remarkable investment opportunity.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Peoria
    County
    Peoria
    State
    Illinois
    Longitude
    -89.6133926
    Latitude
    40.6974655

    Comparable in this City

    • $525,000

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      Investment Opportunity Near Bradley University

      Multi-family property near Bradley University, ideal for student housing.
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      Prime Redevelopment Opportunity on Main

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      Peoria Land Parcel For Sale

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      3,380 SF

      Retail Building in Prime Location

      3,380 SF building ideal for retail or business.
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    Similar Nearby for Sale

    • $525,000

      Student Housing Portfolio For Sale

      Portfolio of 6 properties with 7 units near Bradley University.
      Undisclosed Address In Peoria Il 61606, Peoria, IL 61606
      View Details
    • $168,000
      0.15 Acres

      Investment Opportunity Near Bradley University

      Multi-family property near Bradley University, ideal for student housing.
      1620 W Fredonia Ave, Peoria, IL 61606
      View Details
    • $999,000
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      Prime Redevelopment Opportunity on Main

      1.65 acres on Main St, ideal for redevelopment.
      514 W Main St, Peoria, IL 61606
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      Peoria Land Parcel For Sale

      1.28-acre site near downtown Peoria and Bradley University.
      521 N Main St, Peoria, IL 61606
      View Details
    • Contact for pricing
      3,380 SF

      Retail Building in Prime Location

      3,380 SF building ideal for retail or business.
      1017 W Main St, Peoria, IL 61606
      View Details
    View Listing
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    Peoria, IL 61606
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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