6104 N Frostwood Pkwy · Peoria, IL 61615

$220,000

4 bd · 3.0 ba · — sqft · MultiFamily · 11 Days on market

Built 1996 Good condition 8,712 sqft lot

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Why this score? — see what drove the C 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 +23.9/30.0
• DSCR +7.7/10.0
• ARV discount +7.5/15.0
• 1% rule +6.2/10.0
• Condition / age +3.8/5.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Schools +1.1/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks

Turnkey investment opportunity with immediate cash flow! This well-maintained duplex, built in 1996, generates $2,400 per month in rental income and is occupied by reliable long-term tenants paying $1,200 per month per unit. Skip the hassle of renovations and vacancy periods and start collecting income from day one. Each unit features 2 bedrooms, 1.5 bathrooms, spacious living areas, and private basements equipped with washer and dryer appliances. Tenants are responsible for the majority of utilities, helping to keep ownership expenses low and maximize cash flow. Exterior amenities include a welcoming front porch, a 2-car garage, and ample driveway parking for residents and guests. Property

Key facts

• Private basements
• 8,712 sq ft lot
• 2 garage spots

Tags

• WELL MAINTAINED DUPLEX
• PRIVATE BASEMENTS
• WASHER AND DRYER APPLIANCES
• WELCOMING FRONT PORCH
• AMPLE DRIVEWAY PARKING
• STRONG RENTAL HISTORY

Property features AI

Finance

• Financial info: Building contains 2 units; Each unit currently rents for $1,200 with $1,200 security deposit; Unit 1 lease expires September 1, 2026; Unit 2 lease expires May 1, 2027

Exterior

• Parking: Detached garage (garage owned) with 2 garage spaces; Total parking for 2 vehicles
• Utilities: Public water; Public sewer
• Home design: Two- to four-unit property; Fee simple ownership; Approximately 26–30 years old
• Construction: Vinyl siding exterior; Block foundation; Asphalt roof
• Exterior features: Level lot; Lot dimensions approximately 75 x 120; Lot less than 0.25 acre

Interior

• Kitchen: Stove; Refrigerator; Dishwasher
• Bedrooms: Four bedrooms total (each unit has 2 bedrooms on the first floor)
• Bathrooms: Two full bathrooms and two half bathrooms total (each unit: 1 full bath and 1 half bath)
• Heating & cooling: Natural gas forced-air heating; Central air conditioning
• Interior features: Unfinished full basement
• Laundry & utility: Washer and dryer provided; Laundry hook-ups; Tenants pay electric, gas, heat, and water for units

What this means for you Summary

Snapshot

• This is a 2 × 2.0-bed/1.5-bath units multifamily listed at $220k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $427 ($5k/yr) — positive. Per door: $213/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $220k).
• Cap rate 8.6% 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: 127 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 73 units permitted in Peoria County in 2024 (0 in 5+ unit buildings).
• This rent runs 37% of the median local income ($80k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k 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 11 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Recommended offer $220,000

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
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. 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.
7. 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.
8. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.12% ✓
• Cap rate: 8.62%
• Cash-on-cash: 8.32%
• DSCR: 1.37
• GRM: 7.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -3.6%
• Equity multiple: 0.86×
• Total profit: $-8,418
• Equity at exit: $32,803

10-year hold

• IRR: 6.1%
• Equity multiple: 1.45×
• Total profit: $27,838
• Equity at exit: $19,022

Cash invested: $61,600 (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 61615

• Home prices YoY: -32.2%
• Active inventory: 127
• Price-to-rent: 14.9×

Monthly cashflow live

• Estimated rent: $2,465 high
• Mortgage (P&I): −$1,154
• Tax est. 1.5%: −$275 /mo · $3,300/yr
• Insurance: −$92
• HOA: −$0
• Vacancy / Maint / Mgmt: −$518
• Net cashflow: $427

Break-even live

Break-even rent $1,925

Max offer price $220,000

Occupancy floor 78%

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	2.0	1.5	$2,466
Total (2 units)			$2,465

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: $55,000
• Closing costs: $6,600
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3910 W Verner Dr Peoria, IL	4.0	2.0	1776	$1,800	$1.01	44d	1	0.41mi
5745 Autumn Ridge Ct Apt A Peoria, IL	3.0	1.0	1150	$1,100	$0.96	44d	1	1.03mi
3015 W Willow Knolls Dr Unit 2 Peoria, IL	3.0	2.0	—	$1,600	—	44d	1	1.48mi

Listing history 10 events

1. 2026-06-19
   days on market $220,000 Active 11 DOM
2. 2026-06-18
   days on market $220,000 Active 10 DOM
3. 2026-06-17
   days on market $220,000 Active 9 DOM
4. 2026-06-16
   days on market $220,000 Active 8 DOM
5. 2026-06-15
   days on market $220,000 Active 7 DOM
6. 2026-06-14
   days on market $220,000 Active 5 DOM
7. 2026-06-13
   days on market $220,000 Active 4 DOM
8. 2026-06-10
   days on market $220,000 Active 2 DOM
9. 2026-06-09
   remarks 699-char remark
10. 2026-06-09
    listed $220,000 Active 1 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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 ≥104°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $29,580
• − Mortgage interest: −$12,323
• − Property taxes: −$3,300
• − Insurance: −$1,100
• − Repairs & maintenance: −$2,366
• − Management: −$2,366
• − Depreciation: −$6,400
• Taxable income: $1,724
• Est. tax owed @ 24.0%: −$414
• After-tax cash flow: $4,710/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.

Condition & rehab AI · 13 photos

Good 75/100 Cosmetic rehab

This well-maintained and updated two-unit duplex is ready for immediate rental income with minimal maintenance required.

Value-add opportunities

• Both Paint exterior siding — Enhances curb appeal and can increase both resale and rental value.
• Both Clean gutters — Improves drainage and can prevent water damage, increasing both resale and rental value.

Renovation cost estimate screening

Value-add ROI direction

• Both Paint exterior siding — Enhances curb appeal and can increase both resale and rental value. ↑
• Both Clean gutters — Improves drainage and can prevent water damage, increasing both resale and rental value. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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): 23,523
• Household income: $79,817
• Rent vs Own: 41.3% rent · 58.7% own
• Severe rent burden: 833.0

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: Predominantly White (72%)
• Race & ethnicity: White 72% Asian 10% Black 8% Hispanic / Latino 7% Two or more races 5%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Italian 3% Romanian 3% Lithuanian 2%
• Foreign-born: 13% · China, Canada, Jamaica
• Languages at home: 83% English-only · Other Indo-European 4% Spanish 4% Chinese 3%

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: ▼ -79.30%
• Current HPI: 166.9745
• Rent YoY: —
• 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

+16823.1% since first listed

4 events — show timeline

• 2026-06-08 Listed $220,000 MRED as Distributed by MLS Grid
• 2025-09-25 Rental Removed $1,200 TURBOTENANT
• 2025-09-13 Price Changed $1,200 TURBOTENANT
• 2025-09-11 Listed for Rent $1,300 TURBOTENANT