Maintained Duplex with
For Sale
$269,000
105-107 Nina Ct, Pekin, IL 61554
Two-bedroom units offer private patios, attached garages, unfinished basements, and one currently vacant side.
Property Size1,906 SF
Price / SF$141.13
Days on Market51
Property Features for 105-107 Nina Ct
General Information
Standard status
Active
Size
1,906 SF
Property subtype
Multi-Family
Building Details
Year Built
1976
Listing Agency:
RE/MAX Traders Unlimited
Listed By:
Sue Neihouser ()
Source:
Searchillinoishomesforsale
Added: Jul 11
Changed: Aug 29
Last Checked: Aug 30 at 5:58PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of RE/MAX Traders Unlimited
Investment Insights
Based on property information with market context.
This 1976 duplex at 105-107 Nina Ct includes two separate units, each with 2 bedrooms, 1 full bath, approximately 953 finished square feet, and a full unfinished basement with laundry hookups and storage. Both sides feature family rooms, attached one-car garages with electric openers, patios, and roomy backyards. One unit is occupied and the other is vacant. Unit 107 has new carpet and vinyl plank flooring throughout.
Exterior improvements include a roof, gutters, and downspouts installed in 2020, along with vinyl siding completed in 2025. The property is in Royal Colony Estates, with access to a community park, wide country views, shopping approximately 5 minutes away, and the Tremont School District. The duplex may be purchased individually or combined with five additional duplexes on Nina Court for a 12-unit portfolio.
Exterior improvements include a roof, gutters, and downspouts installed in 2020, along with vinyl siding completed in 2025. The property is in Royal Colony Estates, with access to a community park, wide country views, shopping approximately 5 minutes away, and the Tremont School District. The duplex may be purchased individually or combined with five additional duplexes on Nina Court for a 12-unit portfolio.
Key Highlights
- Two units, each with 2 bedrooms, 1 full bath, and approximately 953 finished square feet
- Full unfinished basement per unit with laundry hookups and generous storage
- Roof, gutters, and downspouts replaced in 2020; vinyl siding completed in 2025
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$12,588
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.68%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$251,760
$251.8K
Cap Rate 7%
$179,829
$179.8K
Cap Rate 9%
$139,867
$139.9K
Market Conditions
NOI Build-Up for 1,906 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$19.4K $10.20/SF
− Vacancy
−$1.5K −$0.77/SF
EGI
$18.0K $9.44/SF
− OpEx
−$5.4K −$2.83/SF
NOI
$12.6K $6.60/SF
Area
Tazewell County, IL
Vacancy
7.50%
Lease Rate
$10.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$251,760
Cap Rate 7%
$179,829
Cap Rate 9%
$139,867
Alternative Uses
Best Use
Multifamily LT 5
$179.8K
$157.4K – $209.8K
NOI $12,588 @ 7.0% cap · market cap 4.68%
Second Best
Apartment 5plus
$159.6K
$139.7K – $186.2K
NOI $11,174 @ 7.0% cap · market cap 4.15%
Theoretical Best
Office A
$745.8K
$652.6K – $870.2K
NOI $52,209 @ 7.0% cap · market cap 19.41%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
17
Businesses Nearby
Explore this area
Business Placement
Demographics for 61554, IL
40,854
Population
18,788
Households
2.2
Avg Household Size
42
Median Age
20%
College-Educated
90%
High-School Grad
73.8 sq mi
ZIP Area
554
Density / Sq Mi
$62,484
Median Household Income
$41,718
Median Earnings
$814
Median Rent
$123,500
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two-bedroom units offer private patios, attached garages, unfinished basements, and one currently vacant side.
Where is this duplex located?
The property is located at 105-107 Nina Ct Pekin, IL.
What is the asking price?
The asking price for this property is $269,000.
What are key features of this property?
This property features: Two units, each with 2 bedrooms, 1 full bath, and approximately 953 finished square feet; Full unfinished basement per unit with laundry hookups and generous storage; Roof, gutters, and downspouts replaced in 2020; vinyl siding completed in 2025
