Updated Duplex With Attached
For Sale
$269,000
104-106 Nina Ct, Pekin, IL 61571
Two well-maintained residences offer private outdoor areas, basement storage, and convenient access to shopping.
Property Size1,906 SF
Price / SF$141.13
Days on Market35
Property Features for 104-106 Nina Ct
General Information
Standard status
Active
Size
1,906 SF
Total Parking Spaces
2
Property subtype
Multi-Family
Occupancy
100%
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Amenities
private patio
full unfinished basement with laundry hookups
spacious backyard
Building Details
Year Built
1976
Buildings
1
Tenancy
Multi
Listing Agency:
RE/MAX Traders Unlimited
(309) 241-6742
Listed By:
Sue Neihouser · License #RMA6470
Source:
Schaublerealty
Added: Jul 28
Changed: Aug 30
Last Checked: Aug 30 at 3:44PM
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 duplex includes two separate residences, each with two bedrooms, one full bathroom, an approximately 953-square-foot layout, a family room, and a full unfinished basement with laundry hookups and storage. Both units also feature an attached one-car garage with an electric opener, private patio access, and a backyard. The property has a total PropertySize of 1,906 square feet and was built in 1976.
Recent exterior improvements include a new roof, gutters, and downspouts completed in 2020, followed by vinyl siding installed in 2025. Both units are occupied under month-to-month leases. The property is located at 104-106 Nina Ct in Pekin, Illinois, with shopping approximately a five-minute drive to the east and access to the Tremont School District.
Recent exterior improvements include a new roof, gutters, and downspouts completed in 2020, followed by vinyl siding installed in 2025. Both units are occupied under month-to-month leases. The property is located at 104-106 Nina Ct in Pekin, Illinois, with shopping approximately a five-minute drive to the east and access to the Tremont School District.
Key Highlights
- Two‑unit duplex with approximately 953 square feet per residence
- Each unit includes 2 bedrooms, 1 full bathroom, and a full unfinished basement
- Attached one‑car garage with electric opener for each unit
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
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
17
Businesses Nearby
Explore this area
Business Placement
Demographics for 61571, IL
24,766
Population
10,273
Households
2.4
Avg Household Size
40
Median Age
38%
College-Educated
98%
High-School Grad
53.5 sq mi
ZIP Area
463
Density / Sq Mi
$87,852
Median Household Income
$48,329
Median Earnings
$996
Median Rent
$200,300
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 well-maintained residences offer private outdoor areas, basement storage, and convenient access to shopping.
Where is this duplex located?
The property is located at 104-106 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‑unit duplex with approximately 953 square feet per residence; Each unit includes 2 bedrooms, 1 full bathroom, and a full unfinished basement; Attached one‑car garage with electric opener for each unit
