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2702 NE Madison Ave, Peoria, IL, 61603

2beds
1baths
1,154sqft
$26,900
$23price/sqft
$384/moest. monthly cost
$15,360/yrincome needed

About This Home

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.

Getting Around

47
WalkingCar-Dependent
28
TransitSome Transit
44
BikeSomewhat Bikeable

Schools

3/10
Lincoln SchoolGrades K-80.8 mi
1/10
Peoria High SchoolGrades 9-122.0 mi

Construction

Condition

  • Year built: 1920

Materials

  • Roof: Shingle
  • Construction materials: Steel Siding

Type & Style

  • Home type: SingleFamily
  • Architectural style: Bungalow
  • Property subType: Single Family Residence,Residential

Interior

Basement

  • Has basement: Yes
  • Basement: Full,Unfinished

Bedroom1

  • Level: Upper
  • Dimensions: 13ft 0in x 10ft 0in

Bedroom2

  • Level: Upper
  • Dimensions: 11ft 0in x 8ft 0in

Bedrooms & Bathrooms

  • Bedrooms: 2
  • Bathrooms: 1
  • Full bathrooms: 1

Heating

  • Heating features: Forced Air

Interior Area

  • Total structure area: 1,154
  • Total interior livable area: 1,154 sqft

Kitchen

  • Level: Main
  • Dimensions: 12ft 0in x 11ft 0in

Living Room

  • Level: Main
  • Dimensions: 14ft 0in x 12ft 0in

Main Level

  • Area: 713

Other

  • Level: Main
  • Dimensions: 14ft 0in x 10ft 0in

Other

  • Area: 0

Upper Level

  • Area: 441

Property

Details

  • Parcel number: 1435355008

Features

  • Patio & porch: Porch,Screened

Lot

  • Lot size: 3,920 sqft
  • Features: Level
  • Lot size dimensions: 30 x 132

Parking

  • Total spaces: 1
  • Parking features: Detached,Shared Driveway
  • Has garage: Yes
  • Attached garage spaces: 1
  • Covered spaces: 1
  • Has uncovered spaces: Yes

Climate Risk is Financial Risk

Every home has a financial story beyond the listing price. Below, you’ll see the climate risks that could affect this property — and in Bills & Affordability, how those risks may influence repairs, insurance, utilities, and long-term value.

Biggest Threats for This Home

  • Cold Wave
    Cold WaveRelatively High
  • Hail
    HailModerate
  • Strong Wind
    Strong WindModerate
  • Tornado
    TornadoModerate
  • Winter Weather
    Winter WeatherModerate

How This Home’s Risks Compare

Cold Wave
Hail
Strong Wind
Tornado
Winter Weather

FEMA Declared Disasters Across Illinois Counties

Flood

Understanding the Costs

Financial advisors generally recommend spending no more than 30% of your gross household income on housing costs. In practice, many households stretch to 35% or beyond — especially in high-cost markets.

Estimated Costs Today

MonthlyAnnual
Mortgage $136$1,632
Home Insurance *$70$840
Property Taxes $48$576
Electricity $130$1,569
Total$384$4,608
*Does not include cost of any FAIR Plan premiums

Income You'd Need if You Spent...

35% on housing$13,165/yr
40% on housing$11,520/yr
45% on housing$10,240/yr

Illinois FAIR Plan Programs

Illinois FAIR Plan Association

Covered
WildfireWildfire
Add-on available
HailHail
WindWind
Visit Website →
Current Policies
Residential: 1,961Commercial: 62
Total Premiums$4.35M
Total Exposure$370.02M

How Costs Could Change Over Time

Climate risk is quickly impacting all of the major home ownership costs. Adjust the growth rates and percentage of income spent on housing below to see how your housing costs could change over the next 10 years — and what income you'd need to keep up.

Insurance Growth Rate5-year average: 12.7%
12.7%
0%30.0%
Electricity Growth Rate10-year average: 5.5%
5.5%
0%15.0%
Property Taxes Growth Rate2-year average: 0.9%
0.9%
0%15.0%
Income Spent on Housing
30%
30%45%

Comparing Against the Market

Price Per Sq Ft

$23This listing

vs Other Active Listings

Avg $/sqft

ZIP 61603$51
Peoria County$88

vs Homes Sold Last Month

Median $/sqft

ZIP 61603$54
Peoria County$99

Current Market Trends

Median Price Per Square Foot

The median price per square foot of homes sold in this area each month. Compare this to this listing's price per square foot to gauge whether the home is priced in line with recent sales.

Historicals for This Listing

Zestimate History ($/sqft)

No zestimate history available

Price History

DateEventPrice
2026-04-24Listed for sale$26,900
2011-12-19Sold$15,000
2011-05-05Listing removed$29,900
2011-02-24Listed for sale$29,900
2011-01-17Listing removed$29,900
2010-10-14Listed for sale$29,900
2005-09-21Sold$30,000

For Sale by Agent

AgentAdam J Merrick
BrokerageAdam Merrick Real Estate

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