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    The Largest CRE Database in the US with Over 1 Million Listings

    111-113 Kansas Ave Belleville, IL 62221

    Sponsored
    For Sale
    $165,000

    Ranch, 2-4 Units - Belleville, IL

    Property size:
    1,654 SF
    Lot size:
    0.21 Acres
    Days on Market:
    8
    Last Refresh:
    Feb 20 at 7:06 am

    Property Features for 111-113 Kansas Ave

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Standard status
    Active
    Rooms
    Basement
    APN
    08-22.0-230-050
    Parking features
    On Street
    Interior features
    Eat-in Kitchen, Laminate Counters, Separate Dining
    Exterior features
    Fencing
    Fencing
    Fenced
    Basement Y/N
    1
    Appliances
    Dishwasher, Dryer, Microwave, Range, Refrigerator, Washer
    Size
    1,654 SF
    Lot size
    0.21 Acres

    Utilities

    Heating system
    Forced Air, Natural Gas
    Cooling system
    Ceiling Fan(s), Central Air, Electric

    Building Details

    Year built
    1946
    Floors in Building
    1
    Number of units
    2
    Flooring type
    Carpet, Tile, Tile - Ceramic
    Building materials
    Brick
    Roof type
    Shingle
    Architectural style
    Ranch

    We can help!

    Listing Contact
    Doug Payne
    Doug Payne

    Southern Illinois Realty, LLC (618) 233-1101

    Listing agent Doug Payne (618) 792-8088 License #471005505

    Listing date Feb 13, 2026

    MLS# 26008276 Listing URL

    Copyright © 2026 MARIS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Turnkey Income Property Portfolio

    This is a rare turnkey income opportunity featuring an all-brick duplex and an additional single-family rental, offered as a portfolio package. All units are currently occupied, providing immediate stabilized income. The brick duplex features durable construction and low maintenance, with each unit offering a living room, dining room, kitchen with appliances, bedroom, bathroom, and full basement with laundry. Tenants enjoy a fenced yard, detached two-car garage, and on-street parking. The properties are located in a nice, established neighborhood. The combined net income from all three units is $27,190 annually. The duplex has a cap rate of 9.21%, and the single-family home has a cap rate of 7.12%. The property is ideal for buy-and-hold investors. The total property size is 1654 Square Feet, situated on a lot of 0.21 acres. This is a high-performing small multifamily + SFR package with proven income and upside potential through rent increases and expense optimization.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Accounting Firm

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Belleville
    County
    St. Clair
    State
    Illinois
    Longitude
    -89.964457
    Latitude
    38.520369

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    FAQs

    What type of property is this?
    Duplex - Brick duplex and single-family rental with immediate income.
    Where is this duplex located?
    The property is located at 111-113 Kansas Ave Belleville, IL.
    What is the asking price?
    The asking price for this property is $165,000.
    What are key features of this property?
    This property features: - High-yield investment package with a combined net income of $27,190 annually.; - Portfolio includes a brick duplex (9.21% cap rate) and a single-family rental (7.12% cap rate).; - Fully occupied units provide immediate, stabilized cash flow from day one.
    (618) 792-8088
    Request Owner's contact information
    111-113 Kansas Ave Belleville, IL 62221
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    Belleville, IL 62221
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    111-113 Kansas Ave Belleville, IL 62221
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    We can help!
    Listing Contact
    Doug Payne
    Doug Payne
    Real Estate License ID: 471005505
    (618) 792-8088 (618) 233-1111 (618) 233-1101
    Learn more
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