This is a delightful, imaginative children's book. It has some similarities to Harry Potter, due to its title and the protagonist's living situation. But it bears a closer resemblance to Coraline by Neil Gaiman due to its whimsical, slightly sinister (not as creepy as Coraline, though) depiction of a parallel universe.
Peter loves to draw caricatures of the people who live on his street. But when he discovers portals to other worlds, one of which is a blank canvas just waiting to come to life, he and his rival, the bratty little girl Anabel, realize everything they draw or describe can be brought to life.
If you ever need a book for a child aged 7-12 that's creative and funny, this would be a great choice!