6831 N Frostwood Pkwy #13 · Peoria, IL 61615

$55,000

1 bd · 1.0 ba · 568 sqft · Condo public records · 160 Days on market

Built 1976 $97/sqft · 15% above area Est $48k · 15% over $113/mo HOA · 11% of rent

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.1/10.0
• ARV discount +0.8/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Great investment opportunity in the desirable Richwood High School in Peoria! This nicely updated, move-in ready 1-bedroom, 1-bathroom, 1 car garage attached condo offers a low-maintenance property. It features a spacious living area, a kitchen with Brand new Range/Oven and Microwave, a private bedroom and a car garage, providing both comfort and convenience. Located near shopping, dining, and major roadways, this property is an ideal choice for first time home buyers or investors. Don’t miss out, schedule a viewing today! Upgrades: New Range/Oven, Microwave in '26.

Key facts

• Private bedroom
• Updated condo
• Spacious living area

Tags

• UPDATED CONDO
• LOW MAINTENANCE PROPERTY
• SPACIOUS LIVING AREA
• PRIVATE BEDROOM
• NEW RANGE OVEN
• NEW MICROWAVE

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $55k.

Deal economics

• At list price, monthly cash flow is $330 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $55k).
• Recommended offer: $48k (12.0% below list) — sets the bar for market timing.
• Cap rate 13.5% 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; 2 comparable units currently listed for rent nearby; solid renter incomes; 73 units permitted in Peoria County in 2024 (0 in 5+ unit buildings).
• This rent is only 16% of the median local income ($80k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $380 of loan paydown is wiped out by about $2k 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $15k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 160 days — a 12% lower offer ($48k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 3y ago; this cycle's ask has dropped $5k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $48,400 (12.0% below list)

Questions for the listing agent

1. It's been on market 160 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1976 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. 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.
10. 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.
11. 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: 1.93% ✓
• Cap rate: 13.50%
• Cash-on-cash: 25.73%
• DSCR: 2.14
• GRM: 4.3

CMA / ARV

• ARV (median comp): $47,874
• List price: $55,000
• Delta: 14.89%
• Verdict: OVERPRICED
• Comps: 11 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 19.5%
• Equity multiple: 1.79×
• Total profit: $12,217
• Equity at exit: $8,201

10-year hold

• IRR: 27.9%
• Equity multiple: 3.47×
• Total profit: $38,111
• Equity at exit: $4,755

Cash invested: $15,400 (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: 4.3×

Monthly cashflow live

• Estimated rent: $1,063 medium
• Mortgage (P&I): −$288
• Tax from tax record: −$85 /mo · $1,023/yr
• Insurance: −$23
• HOA: −$113
• Vacancy / Maint / Mgmt: −$223
• Net cashflow: $330

Break-even live

Break-even rent $645

Max offer price $55,000

Occupancy floor 64%

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: $13,750
• Closing costs: $1,650
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6900 N Summershade Cir Peoria, IL	1.0–2.0	1.0–2.0	832	$1,080	$1.30	13d	3	0.62mi
5711 W Ridgecrest Dr Peoria, IL	1.0–2.0	1.0–2.0	875	$925	$1.06	13d	8	1.47mi

HOA detail condo

• Monthly dues: $113 · $1,356/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 31 events

1. 2026-06-19
   days on market $55,000 Active 160 DOM
2. 2026-06-18
   days on market $55,000 Active 159 DOM
3. 2026-06-17
   days on market $55,000 Active 158 DOM
4. 2026-06-16
   days on market $55,000 Active 157 DOM
5. 2026-06-15
   days on market $55,000 Active 156 DOM
6. 2026-06-14
   days on market $55,000 Active 154 DOM
7. 2026-06-13
   days on market $55,000 Active 153 DOM
8. 2026-06-10
   days on market $55,000 Active 151 DOM
9. 2026-06-09
   days on market $55,000 Active 150 DOM
10. 2026-06-08
    days on market $55,000 Active 149 DOM
11. 2026-06-07
    days on market $55,000 Active 148 DOM
12. 2026-06-03
    days on market $55,000 Active 144 DOM
13. 2026-06-02
    days on market $55,000 Active 143 DOM
14. 2026-06-01
    days on market $55,000 Active 142 DOM
15. 2026-05-31
    days on market $55,000 Active 141 DOM
16. 2026-05-30
    days on market $55,000 Active 140 DOM
17. 2026-03-24
    status Active 578-char remark

    Show marketing remark (578 chars)

    Great investment opportunity in the desirable Richwood High School in Peoria! This nicely updated, move-in ready 1-bedroom, 1-bathroom, 1 car garage attached condo offers a low-maintenance property. It features a spacious living area, a kitchen with Brand new Range/Oven and Microwave, a private bedroom and a car garage, providing both comfort and convenience. Located near shopping, dining, and major roadways, this property is an ideal choice for first time home buyers or investors. Don’t miss out, schedule a viewing today! Upgrades: New Range/Oven, Microwave in '26.

18. 2026-03-11
    historical Under Contract 578-char remark

    Show marketing remark (578 chars)

    Great investment opportunity in the desirable Richwood High School in Peoria! This nicely updated, move-in ready 1-bedroom, 1-bathroom, 1 car garage attached condo offers a low-maintenance property. It features a spacious living area, a kitchen with Brand new Range/Oven and Microwave, a private bedroom and a car garage, providing both comfort and convenience. Located near shopping, dining, and major roadways, this property is an ideal choice for first time home buyers or investors. Don’t miss out, schedule a viewing today! Upgrades: New Range/Oven, Microwave in '26.

19. 2026-02-23
    price $55,000 578-char remark

    Show marketing remark (578 chars)

    Great investment opportunity in the desirable Richwood High School in Peoria! This nicely updated, move-in ready 1-bedroom, 1-bathroom, 1 car garage attached condo offers a low-maintenance property. It features a spacious living area, a kitchen with Brand new Range/Oven and Microwave, a private bedroom and a car garage, providing both comfort and convenience. Located near shopping, dining, and major roadways, this property is an ideal choice for first time home buyers or investors. Don’t miss out, schedule a viewing today! Upgrades: New Range/Oven, Microwave in '26.

20. 2026-01-10
    listed $60,000 Active 578-char remark

    Show marketing remark (578 chars)

    Great investment opportunity in the desirable Richwood High School in Peoria! This nicely updated, move-in ready 1-bedroom, 1-bathroom, 1 car garage attached condo offers a low-maintenance property. It features a spacious living area, a kitchen with Brand new Range/Oven and Microwave, a private bedroom and a car garage, providing both comfort and convenience. Located near shopping, dining, and major roadways, this property is an ideal choice for first time home buyers or investors. Don’t miss out, schedule a viewing today! Upgrades: New Range/Oven, Microwave in '26.

21. 2025-10-04
    historical
22. 2025-10-04
    status Active
23. 2025-02-11
    listed Active
24. 2024-11-07
    historical $799
25. 2024-10-11
    listed $799
26. 2023-05-30
    soldstatus $60,000
27. 2023-05-25
    soldstatus $60,000 Closed
28. 2023-05-01
    status Pending
29. 2023-04-28
    listed $59,900 Active
30. 2013-09-20
    soldstatus $30,000
31. 2003-12-31
    soldstatus $27,500

ⓘ 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: $1,023 · $85/mo
• Projected year-2 tax: $1,136 · $95/mo
• Expected delta: +$113/yr (+$9/mo · 11.0%)

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

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: $12,757
• − Mortgage interest: −$3,081
• − Property taxes: −$1,023
• − Insurance: −$275
• − Repairs & maintenance: −$1,021
• − Management: −$1,021
• − HOA: −$1,356
• − Depreciation: −$1,600
• Taxable income: $3,381
• Est. tax owed @ 24.0%: −$811
• After-tax cash flow: $3,152/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): 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

+100.0% since first listed

15 events — show timeline

• 2026-03-24 Relisted — RMLSA as Distributed by MLS Grid
• 2026-03-11 Contingent — RMLSA as Distributed by MLS Grid
• 2026-02-23 Price Changed $55,000 RMLSA as Distributed by MLS Grid
• 2026-01-10 Listed $60,000 RMLSA as Distributed by MLS Grid
• 2025-10-04 Listing Removed — RMLSA as Distributed by MLS Grid
• 2025-10-04 Relisted — RMLSA as Distributed by MLS Grid
• 2025-02-11 Listed — RMLSA as Distributed by MLS Grid
• 2024-11-07 Rental Removed $799 RMLSA
• 2024-10-11 Listed for Rent $799 RMLSA
• 2023-05-30 Sold (Public Records) $60,000 Public Records
• 2023-05-25 Sold (MLS) $60,000 RMLSA as Distributed by MLS Grid
• 2023-05-01 Pending — RMLSA as Distributed by MLS Grid
• 2023-04-28 Listed $59,900 RMLSA as Distributed by MLS Grid
• 2013-09-20 Sold (Public Records) $30,000 Public Records
• 2003-12-31 Sold (Public Records) $27,500 Public Records

Property tax history

-0.2%/yr

Latest (2024): $1,023 · +4.8% YoY. Source: county tax records.