3510 N Kingston Dr #2 · Peoria, IL 61604

$127,500

2 bd · 2.0 ba · 1,200 sqft · SingleFamily public records · 1 Days on market

Built 1997 1,840 sqft lot Est $126k · at est. $60/mo HOA · 5% of rent

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Why this score? — see what drove the F 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 +9.8/30.0
• ARV discount +7.0/15.0
• 1% rule +4.4/10.0
• Livability +3.7/5.0
• Rent growth +3.1/5.0
• DSCR +2.8/10.0
• Condition / age +2.5/5.0
• Schools +1.1/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Move right into this 2 Bedroom condo in Central Peoria with great access to the interstate. The main level offers an open feel with a fully applianced kitchen with plenty of cabinetry & a pantry. The large living room with lovely wood floors has a walkout to your rear deck. The upper level provides a good size master Bed/ bath & a laundry room. A second bedroom with a big closet offers a walkout deck. 2 stall garage in lower level with a finished room as you enter.

Key facts

• 1,840 sq ft lot
• 2 garage spots
• Built 1997

Property features AI

Finance

• Other: Zoning: R6; Subdivision: Forest Ridge
• HOA & community: HOA fee (approx. $60); HOA covers grounds and road maintenance, snow removal, common area maintenance and trash

Exterior

• Parking: Attached 2-car garage; Private parking; Street parking; Underground parking
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Two stories; Entry on main level; Shingle roof
• Construction: Built in 1997; Shingle roof
• Exterior features: Level lot; Paved private road

Interior

• Kitchen: Dishwasher; Disposal; Microwave; Refrigerator; Water softener (owned)
• Bedrooms: 2 bedrooms (both on upper level)
• Flooring: Carpet in bedrooms; Hardwood in great room; Laminate in kitchen, laundry and entry; Tile in basement office
• Bathrooms: 1 full bath; 1 half bath
• Heating & cooling: Central air conditioning; Electric forced-air heating; Electric water heater
• Interior features: Cable available; Ceiling fans; Finished partial basement
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $128k.

Deal economics

• At list price, monthly cash flow is $-82 ($-983/yr) — negative.
• To cash-flow at today's rent, offer at most $113k (11.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $120k (5.7% below list).
• Recommended offer: $113k (11.3% below list) — sets the bar for cash-flow.

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+, 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.
• Zoned schools: Dr Maude A Sanders Primary School (math 2% / reading 2%, grade F, #1,927 of 2,056 statewide, top 100%, 396 students, 0% FRL); Sterling Middle School (math 0% / reading 4%, grade F, #664 of 665 statewide, top 100%, 385 students, 0% FRL); Peoria High School (math 4% / reading 7%, grade F, #609 of 693 statewide, top 88%, 1,447 students, 0% FRL) — zoned schools average 0% FRL vs 70% district-wide (70 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: Rents rising (+2.3%/yr); 180 active listings in the ZIP; 16 comparable units currently listed for rent nearby; rentals at typical pace (median 14d on market — plan ~3-4 weeks tenant-placement turnaround); 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 $882 of loan paydown is wiped out by about $4k 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.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 22y ago; this cycle's ask is 28% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $103k; 24% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $113,029 (11.3% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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: 0.94% ✗
• Cap rate: 5.52%
• Cash-on-cash: -2.75%
• DSCR: 0.88
• GRM: 8.8

CMA / ARV

• ARV (on-the-fly): $126,000
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3510 N Kingston Dr #4	0.00mi	2/1.5	1,321 (+10%)	6mo	$134,230	$102	76
3347 W Saymore Ln	0.40mi	2/2.0	1,241 (+3%)	3mo	$141,000	$114	73
3311 W Richwoods Blvd	0.31mi	3/2.0 (+1)	1,230 (+2%)	6mo	$151,000	$123	71
3510 N Kingston Dr #5	0.00mi	2/1.5	1,360 (+13%)	6mo	$100,000	$74	71
3510 N Elmcroft Ter	0.30mi	3/1.0 (+1)	1,092 (-9%)	1mo	$136,000	$125	61
3423 N EL Vista Ave	0.50mi	3/1.0 (+1)	1,183 (-1%)	5mo	$100,000	$85	61
2928 N Renwood Ave	0.72mi	3/2.0 (+1)	1,238 (+3%)	1mo	$129,500	$105	55
3421 N Rockwood Rd	0.38mi	3/1.0 (+1)	1,332 (+11%)	3mo	$145,900	$110	53
3014 N Renwood Ave	0.68mi	3/1.0 (+1)	1,254 (+4%)	2mo	$139,000	$111	50
2202 W Tripp Ave	0.69mi	2/1.0	1,296 (+8%)	5mo	$31,000	$24	47
4011 N Sterling Ave	0.54mi	3/1.5 (+1)	1,040 (-13%)	5mo	$105,000	$101	41
3021 N Mission Rd	0.72mi	3/2.0 (+1)	1,380 (+15%)	5mo	$88,000	$64	32

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 · 2.3% rent growth · sell at horizon

5-year hold

• IRR: -21.7%
• Equity multiple: 0.25×
• Total profit: $-26,608
• Equity at exit: $19,011

10-year hold

• IRR: -17.3%
• Equity multiple: 0.08×
• Total profit: $-32,841
• Equity at exit: $11,024

Cash invested: $35,700 (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 61604

• Home prices YoY: -24.6%
• Rents YoY: 2.3%
• Active inventory: 180
• Price-to-rent: 8.8×

Monthly cashflow live

• Estimated rent: $1,202 high
• Mortgage (P&I): −$669
• Tax from tax record: −$250 /mo · $3,000/yr
• Insurance: −$53
• HOA: −$60
• Vacancy / Maint / Mgmt: −$252
• Net cashflow: $-82

Break-even live

Break-even rent $1,306

Max offer price $113,029

Occupancy floor —

Sensitivity live

Price	-10% $-10	-5% $-46	+0% $-82	+5% $-118	+10% $-154
Rent	-10% $-177	-5% $-129	+0% $-82	+5% $-34	+10% $13
Rate	-1.0pp $-18	-0.5pp $-49	base $-82	+0.5pp $-115	+1.0pp $-149

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: $31,875
• Closing costs: $3,825
• Reserves months: —
• Total cash needed: —

Rent comps 16 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3601 N Kingston Dr Peoria, IL	2.0	2.0	1030	$1,420	$1.38	14d	3	0.07mi
2700 W Forrest Hill Ave Peoria, IL	2.0	1.0	850	$850	$1.00	44d	1	0.48mi
2805 W Larchmont Ln Peoria, IL	1.0–2.0	1.0	695	$1,060	$1.53	14d	3	0.51mi
3438 W Villa Rdg Unit A Peoria, IL	2.0	1.5	874	$1,200	$1.37	22d	1	0.55mi
3444 W Dorchester Rdg Peoria, IL	2.0	2.0	1089	$1,275	$1.17	14d	1	0.58mi
2511 W Wardcliffe Dr Unit H Peoria, IL	2.0	1.0	800	$875	$1.09	44d	1	0.63mi
2920 N Rockwood Dr Apt B Peoria, IL	2.0	1.0	800	$895	$1.12	14d	1	0.64mi
3629 N Leroy Ave Unit A Peoria, IL	2.0	1.0	1000	$1,150	$1.15	44d	1	0.67mi
2600 N Lavalle Ct Peoria, IL	1.0–3.0	1.0–2.0	803	$1,000	$1.25	14d	26	0.91mi
2610 N Renwood Ave Peoria, IL	2.0	1.0	904	$1,300	$1.44	14d	1	0.93mi
4010 N Brandywine Dr Peoria, IL	1.0–2.0	1.0–2.0	797	$1,082	$1.36	14d	17	1.15mi
2109 N Abbey Cir Peoria, IL	3.0	2.0	1088	$1,009	$0.93	14d	1	1.29mi
1915 W Marlene Ave Unit B Peoria, IL	2.0	1.5	1200	$1,275	$1.06	22d	1	1.31mi
2020 W Glen Ave Peoria, IL	3.0	2.0	1320	$1,700	$1.29	14d	1	1.37mi
1413 W Gilbert Ave Peoria, IL	2.0	2.0	1428	$1,500	$1.05	14d	1	1.43mi
1801 N Gentry Ln West Peoria, IL	3.0	1.0	1000	$1,650	$1.65	14d	1	1.48mi

HOA detail

• Monthly dues: $60 · $720/yr

Listing history 30 events

1. 2026-06-07
   remarks 693-char remark
2. 2026-06-07
   statusdays on market $127,500 Pending 1 DOM
3. 2026-06-03
   days on market $127,500 Coming Soon 15 DOM
4. 2026-06-02
   days on market $127,500 Coming Soon 14 DOM
5. 2026-06-01
   days on market $127,500 Coming Soon 13 DOM
6. 2026-05-31
   days on market $127,500 Coming Soon 12 DOM
7. 2026-05-30
   days on market $127,500 Coming Soon 11 DOM
8. 2026-05-19
   historical $127,500
9. 2022-08-30
   soldstatus $103,000
10. 2022-08-26
    soldstatus $103,000 Closed 484-char remark

    Show marketing remark (484 chars)

    Move right into this 2 Bedroom condo in Central Peoria with great access to the interstate. The main level offers an open feel with a fully applianced kitchen with plenty of cabinetry & a pantry. The large living room with lovely wood floors has a walkout to your rear deck. The upper level provides a good size master Bed/ bath & a laundry room. A second bedroom with a big closet offers a walkout deck. 2 stall garage in lower level with a finished room as you enter.

11. 2022-08-13
    status Pending 484-char remark

    Show marketing remark (484 chars)

    Move right into this 2 Bedroom condo in Central Peoria with great access to the interstate. The main level offers an open feel with a fully applianced kitchen with plenty of cabinetry & a pantry. The large living room with lovely wood floors has a walkout to your rear deck. The upper level provides a good size master Bed/ bath & a laundry room. A second bedroom with a big closet offers a walkout deck. 2 stall garage in lower level with a finished room as you enter.

12. 2022-08-11
    listed $99,900 Active 484-char remark

    Show marketing remark (484 chars)

    Move right into this 2 Bedroom condo in Central Peoria with great access to the interstate. The main level offers an open feel with a fully applianced kitchen with plenty of cabinetry & a pantry. The large living room with lovely wood floors has a walkout to your rear deck. The upper level provides a good size master Bed/ bath & a laundry room. A second bedroom with a big closet offers a walkout deck. 2 stall garage in lower level with a finished room as you enter.

13. 2021-08-06
    historical
14. 2004-09-01
    soldstatus $92,000
15. 2004-08-27
    soldstatus $92,000
16. 2004-06-25
    soldstatus $120,000
17. 2004-05-06
    listed $94,900
18. 2003-07-03
    soldstatus $124,000
19. 2003-01-23
    soldstatus $92,500
20. 2001-10-11
    soldstatus $125,500
21. 2001-08-23
    soldstatus $129,000
22. 2001-07-03
    soldstatus $83,500
23. 2001-07-03
    soldstatus $139,000
24. 2000-05-16
    soldstatus $131,500
25. 2000-03-24
    soldstatus $134,000
26. 1999-12-21
    soldstatus $135,000
27. 1999-09-29
    soldstatus $122,500
28. 1998-07-29
    soldstatus $121,500
29. 1998-06-04
    soldstatus $128,000
30. 1998-05-20
    soldstatus $96,000

ⓘ 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: $3,000 · $250/mo
• Projected year-2 tax: $3,000 · $250/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $14,428
• − Mortgage interest: −$7,142
• − Property taxes: −$3,000
• − Insurance: −$638
• − Repairs & maintenance: −$1,154
• − Management: −$1,154
• − HOA: −$720
• − Depreciation: −$3,709
• Taxable loss: −$3,089
• Est. tax savings @ 24.0%: +$741
• After-tax cash flow: $-242/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): 28,313
• Household income: $52,414
• Rent vs Own: 32.0% rent · 68.0% own
• Severe rent burden: 815.0

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 0.61)
• Race & ethnicity: White 55% Black 29% Two or more races 10% Hispanic / Latino 7% Asian 2%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Italian 2% Slovak 1% Iranian 1%
• Foreign-born: 6% · Canada, China
• Languages at home: 92% English-only · Spanish 4% Chinese 1% French/Haitian/Cajun 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: ▼ -54.15%
• Current HPI: 165.8838
• Rent YoY: ▲ 2.30%
• 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

+32.8% since first listed

23 events — show timeline

• 2026-05-19 Coming Soon $127,500 RMLSA as Distributed by MLS Grid
• 2022-08-30 Sold (Public Records) $103,000 Public Records
• 2022-08-26 Sold (MLS) $103,000 RMLSA as Distributed by MLS Grid
• 2022-08-13 Pending — RMLSA as Distributed by MLS Grid
• 2022-08-11 Listed $99,900 RMLSA as Distributed by MLS Grid
• 2021-08-06 Listing Removed — RMLSA as Distributed by MLS Grid
• 2004-09-01 Sold (Public Records) $92,000 Public Records
• 2004-08-27 Sold (MLS) $92,000 RMLSA as Distributed by MLS Grid
• 2004-06-25 Sold (Public Records) $120,000 Public Records
• 2004-05-06 Listed $94,900 RMLSA as Distributed by MLS Grid
• 2003-07-03 Sold (Public Records) $124,000 Public Records
• 2003-01-23 Sold (Public Records) $92,500 Public Records
• 2001-10-11 Sold (Public Records) $125,500 Public Records
• 2001-08-23 Sold (Public Records) $129,000 Public Records
• 2001-07-03 Sold (Public Records) $139,000 Public Records
• 2001-07-03 Sold (Public Records) $83,500 Public Records
• 2000-05-16 Sold (Public Records) $131,500 Public Records
• 2000-03-24 Sold (Public Records) $134,000 Public Records
• 1999-12-21 Sold (Public Records) $135,000 Public Records
• 1999-09-29 Sold (Public Records) $122,500 Public Records
• 1998-07-29 Sold (Public Records) $121,500 Public Records
• 1998-06-04 Sold (Public Records) $128,000 Public Records
• 1998-05-20 Sold (Public Records) $96,000 Public Records

Property tax history

+3.8%/yr

Latest (2024): $3,000 · +4.8% YoY. Source: county tax records.