Under $300K Investment Properties for Sale in Peoria, IL
94- 2 Bed
- 1 Bath
- 800 sft
453- 2 Bed
- 1 Bath
- 919 sft
98- 4 Bed
- 2 Bath
- 1744 sft
126- 3 Bed
- 2 Bath
- 1296 sft
Why Invest in Peoria, Illinois?
Peoria properties under $300k represent exceptional value for real estate investors seeking cash flow and appreciation. The city's affordability—with median home prices approximately 40% below suburban Chicago—enables higher cash-on-cash returns while maintaining strong rental fundamentals. A diverse economic base anchored by OSF HealthCare and Caterpillar provides stable tenant demand from healthcare professionals, manufacturing workers, and university staff. The $120 million riverfront development project and Bradley University presence create multiple appreciation catalysts. Properties in this price range typically offer cap rates between 8-12%, significantly higher than saturated urban markets, while the tight inventory in sub-$300k segments provides seller leverage and multiple-offer scenarios.
Frequently Asked Questions
Peoria offers median home prices approximately 40% below suburban Chicago, enabling higher cash-on-cash returns and cap rates of 8-12%. The city's diverse economic base (healthcare, manufacturing, education) provides stable tenant demand, while tight inventory in the sub-$300k segment creates favorable investment conditions.
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