6831 N Frostwood Pkwy #82 · Peoria, IL 61615

$84,990

2 bd · 1.0 ba · 981 sqft · Condo public records · 52 Days on market

Built 1973 $87/sqft · 10% above area Est $81k · 5% over $225/mo HOA · 17% 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 +22.3/30.0
• 1% rule +10.0/10.0
• DSCR +7.1/10.0
• ARV discount +5.1/15.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.1/10.0
• Appreciation +0.0/10.0

Listing remarks

Priced to sell, very affordable on great location area. Buildings with renewed roofs, imporvements, new stairs. Charming and cozy apartment located in MorningSide Condos, with many upgrades on going currently in the community. This well-maintained condo features modern amenities, a spacious living area, and a beautiful kitchen, newer central HVAC with 10 years warranty (2023) and a garage for additional storage if desired. Enjoy the convenience of nearby shopping, dining, and entertainment options. Relax on your private balcony or take advantage of the community amenities. Bring your buyers, excellent investment or place to call home!! Tenant occupied at $1125/month. Good and stable return.

Key facts

• Many upgrades
• Private balcony
• Community amenities

Tags

• RENEWED ROOFS
• NEW STAIRS
• MANY UPGRADES
• MODERN AMENITIES
• PRIVATE BALCONY
• COMMUNITY AMENITIES

Property features AI

Finance

• Other: Living area reported by landlord/tenant/seller; Approximate total finished area reported
• HOA & community: Condo association fee of $225 monthly; Pets not allowed

Exterior

• Parking: 1 parking space
• Utilities: Public water; Public sewer; Electric service
• Home design: Attached single condo; Entry level: 1
• Construction: Vinyl siding; Block foundation; Built approximately 51–60 years ago; Built before 1978
• Exterior features: Common lot / shared exterior space; Alley access

Interior

• Kitchen: Kitchen with eating area / breakfast bar
• Bedrooms: 2 bedrooms (master and second bedroom located on the second level)
• Flooring: Other flooring throughout
• Bathrooms: 1 full bathroom
• Heating & cooling: Electric heating; Electric cooling
• Interior features: 4 total rooms; Some photos virtually staged
• Laundry & utility: Dedicated laundry room

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $85k.

Deal economics

• At list price, monthly cash flow is $140 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $85k).
• Recommended offer: $82k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.3% 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; 8 comparable units currently listed for rent nearby; rentals leasing fast (median 14d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 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 $588 of loan paydown is wiped out by about $3k 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

• It's been on market 52 days — a 3% lower offer ($82k) is reasonable based on typical stale-listing flexibility.
• 9 sale attempts since 25y ago 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.
• Current owner paid $27k; list at $85k implies a 215% gain — meaningful room to come down on a strong offer.

Recommended offer $82,440 (3.0% below list)

Questions for the listing agent

1. It's been on market 52 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1973 — 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 1.52% ✓
• Cap rate: 8.27%
• Cash-on-cash: 7.05%
• DSCR: 1.31
• GRM: 5.5

CMA / ARV

• ARV (median comp): $80,613
• List price: $84,990
• Delta: 5.43%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -5.3%
• Equity multiple: 0.80×
• Total profit: $-4,667
• Equity at exit: $12,672

10-year hold

• IRR: 4.7%
• Equity multiple: 1.35×
• Total profit: $8,214
• Equity at exit: $7,348

Cash invested: $23,797 (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: 5.5×

Monthly cashflow live

• Estimated rent: $1,292 high
• Mortgage (P&I): −$446
• Tax from tax record: −$175 /mo · $2,097/yr
• Insurance: −$35
• HOA: −$225
• Vacancy / Maint / Mgmt: −$271
• Net cashflow: $140

Break-even live

Break-even rent $1,115

Max offer price $84,990

Occupancy floor 84%

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: $21,248
• Closing costs: $2,550
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4105 W Hollow Creek Dr Peoria, IL	2.0	2.0	1121	$1,300	$1.16	13d	3	0.27mi
6900 N Summershade Cir Peoria, IL	1.0–2.0	1.0–2.0	832	$1,340	$1.61	13d	3	0.62mi
3207 W Willow Knolls Dr Peoria, IL	2.0	1.5	1000	$1,100	$1.10	43d	1	1.06mi
3119 W Willow Knolls Dr Unit 46B Peoria, IL	2.0	1.5	872	$1,100	$1.26	43d	1	1.08mi
5505 N Frostwood Pkwy Peoria, IL	2.0	2.0	1030	$1,490	$1.45	13d	1	1.20mi
5605 N Withershin Pt Peoria, IL	2.0	2.0	1000	$1,335	$1.33	13d	1	1.47mi
5605 N Withershin Pt Unit 1 Peoria, IL	2.0	2.0	1000	$1,335	$1.33	13d	1	1.47mi
5711 W Ridgecrest Dr Peoria, IL	1.0–2.0	1.0–2.0	875	$1,095	$1.25	13d	8	1.47mi

HOA detail condo

• Monthly dues: $225 · $2,700/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 50 events

1. 2026-06-19
   days on market $84,990 Active 52 DOM
2. 2026-06-18
   days on market $84,990 Active 51 DOM
3. 2026-06-17
   days on market $84,990 Active 50 DOM
4. 2026-06-16
   days on market $84,990 Active 49 DOM
5. 2026-06-15
   days on market $84,990 Active 48 DOM
6. 2026-06-14
   days on market $84,990 Active 46 DOM
7. 2026-06-13
   days on market $84,990 Active 45 DOM
8. 2026-06-10
   days on market $84,990 Active 43 DOM
9. 2026-06-09
   days on market $84,990 Active 42 DOM
10. 2026-06-08
    days on market $84,990 Active 41 DOM
11. 2026-06-07
    days on market $84,990 Active 40 DOM
12. 2026-06-03
    days on market $84,990 Active 36 DOM
13. 2026-06-02
    days on market $84,990 Active 35 DOM
14. 2026-06-01
    days on market $84,990 Active 34 DOM
15. 2026-05-31
    days on market $84,990 Active 33 DOM
16. 2026-05-30
    days on market $84,990 Active 32 DOM
17. 2026-04-28
    listed $84,990 Active 620-char remark
18. 2025-12-17
    historical
19. 2025-12-15
    historical $1,200
20. 2025-12-02
    price $1,200
21. 2025-11-26
    price $1,225
22. 2025-09-21
    listed $1,250
23. 2025-09-17
    historical
24. 2025-09-17
    price
25. 2025-07-12
    price
26. 2025-07-03
    price
27. 2024-09-19
    listed Active
28. 2024-04-01
    historical
29. 2024-01-31
    listed Active
30. 2023-12-08
    price
31. 2023-08-23
    price
32. 2023-08-23
    status Active
33. 2023-08-23
    historical
34. 2023-08-23
    historical
35. 2023-03-02
    status Active
36. 2023-02-19
    price
37. 2022-07-15
    price
38. 2022-06-03
    price
39. 2022-06-03
    price
40. 2022-06-03
    price
41. 2022-05-31
    listed Active
42. 2022-04-13
    price $650
43. 2021-08-06
    historical
44. 2021-03-12
    soldstatus $27,000
45. 2004-03-03
    soldstatus $46,500
46. 2004-03-02
    soldstatus $46,500
47. 2003-09-09
    listed $52,900
48. 2002-05-17
    soldstatus $46,000
49. 2002-05-16
    soldstatus $46,000
50. 2001-11-28
    listed $49,900

ⓘ 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: $2,097 · $175/mo
• Projected year-2 tax: $2,097 · $175/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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: $15,504
• − Mortgage interest: −$4,761
• − Property taxes: −$2,097
• − Insurance: −$425
• − Repairs & maintenance: −$1,240
• − Management: −$1,240
• − HOA: −$2,700
• − Depreciation: −$2,472
• Taxable income: $568
• Est. tax owed @ 24.0%: −$136
• After-tax cash flow: $1,541/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

+70.3% since first listed

34 events — show timeline

• 2026-04-28 Listed $84,990 MRED as Distributed by MLS Grid
• 2025-12-17 Listing Removed — MRED as Distributed by MLS Grid
• 2025-12-15 Rental Removed $1,200 TURBOTENANT
• 2025-12-02 Price Changed $1,200 TURBOTENANT
• 2025-11-26 Price Changed $1,225 TURBOTENANT
• 2025-09-21 Listed for Rent $1,250 TURBOTENANT
• 2025-09-17 Listing Removed — RMLSA as Distributed by MLS Grid
• 2025-09-17 Price Changed — RMLSA as Distributed by MLS Grid
• 2025-07-12 Price Changed — RMLSA as Distributed by MLS Grid
• 2025-07-03 Price Changed — RMLSA as Distributed by MLS Grid
• 2024-09-19 Listed — RMLSA as Distributed by MLS Grid
• 2024-04-01 Listing Removed — RMLSA as Distributed by MLS Grid
• 2024-01-31 Listed — RMLSA as Distributed by MLS Grid
• 2023-12-08 Price Changed — RMLSA as Distributed by MLS Grid
• 2023-08-23 Price Changed — RMLSA as Distributed by MLS Grid
• 2023-08-23 Relisted — RMLSA as Distributed by MLS Grid
• 2023-08-23 Listing Removed — MRED as Distributed by MLS Grid
• 2023-08-23 Listing Removed — RMLSA as Distributed by MLS Grid
• 2023-03-02 Relisted — RMLSA as Distributed by MLS Grid
• 2023-02-19 Price Changed — RMLSA as Distributed by MLS Grid
• 2022-07-15 Price Changed — RMLSA as Distributed by MLS Grid
• 2022-06-03 Price Changed — RMLSA as Distributed by MLS Grid
• 2022-06-03 Price Changed — RMLSA as Distributed by MLS Grid
• 2022-06-03 Price Changed — RMLSA as Distributed by MLS Grid
• 2022-05-31 Listed — RMLSA as Distributed by MLS Grid
• 2022-04-13 Price Changed $650 RENT.
• 2021-08-06 Listing Removed — RMLSA as Distributed by MLS Grid
• 2021-03-12 Sold (Public Records) $27,000 Public Records
• 2004-03-03 Sold (Public Records) $46,500 Public Records
• 2004-03-02 Sold (MLS) $46,500 RMLSA as Distributed by MLS Grid
• 2003-09-09 Listed $52,900 RMLSA as Distributed by MLS Grid
• 2002-05-17 Sold (Public Records) $46,000 Public Records
• 2002-05-16 Sold (MLS) $46,000 RMLSA as Distributed by MLS Grid
• 2001-11-28 Listed $49,900 RMLSA as Distributed by MLS Grid

Property tax history

+5.3%/yr

Latest (2025): $2,097 · +6.4% YoY. Source: county tax records.