Ranch Duplex with Central
For Sale
$174,500
112 Kingsway Drive, Belleville, IL 62226
MULTI_FAMILY - Ranch - Belleville, IL
Property Size2,032 SF
Lot Size0.21 Acres
Price / SF$85.88
Days on Market9
Property Features for 112 Kingsway Drive
General Information
Property type
Residential Multi Family
Property subtype
Single Family Residence
Bedrooms
2
Bathrooms
1
Full bathrooms
1
Rooms
Bedroom 1, Bedroom 2, Bathroom 1
Subdivision
Parkmoor 3rd Add
Elementary school
BELLEVILLE DIST 118
Middle school
BELLEVILLE DIST 118
High school
Belleville High School-West
Elementary school district
Belleville DIST 118
Middle school district
Belleville DIST 118
High school district
Belleville DIST 118
Standard status
Active
APN
08-18.0-110-006
Size
2,032 SF
Lot size
0.21 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
3471
Utilities
Heating system
Forced Air
Cooling system
Central Air
Water source
Public
Building Details
Year built
1980
Building materials
Brick Veneer
Architectural style
Ranch
Listing Agency:
Johnston Realty, Inc.
(618) 233-8802
Listed By:
Gary Johnston · License #471004014
(618) 779-4124
Added: Jul 29
Changed: Aug 3
Last Checked: Aug 6 at 3:06PM
MLS# 26048385
Copyright © 2026 Mid America Regional Information Systems, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This ranch-style duplex at 112 Kingsway Drive offers two separate units, each with two bedrooms and one bathroom, plus a 1-car carport. The building is brick veneer and was built in 1980.
The units are heated with forced air and cooled with central air. Water service is public. The property is being sold in as-is condition, and the tenant pays all utilities.
Set on a 0.21-acre lot, this duplex provides a straightforward residential income setup for an owner who wants a two-unit configuration with established unit layouts, covered parking, and utility responsibility handled by the tenant.
The units are heated with forced air and cooled with central air. Water service is public. The property is being sold in as-is condition, and the tenant pays all utilities.
Set on a 0.21-acre lot, this duplex provides a straightforward residential income setup for an owner who wants a two-unit configuration with established unit layouts, covered parking, and utility responsibility handled by the tenant.
Key Highlights
- 0.21‑acre lot
- Two units with two bedrooms and one bathroom each
- 1‑car carport per 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
$15,096
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
8.65%
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%
$301,920
$301.9K
Cap Rate 7%
$215,657
$215.7K
Cap Rate 9%
$167,733
$167.7K
Market Conditions
NOI Build-Up for 2,032 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
$29.3K $14.40/SF
− Vacancy
−$1.8K −$0.89/SF
EGI
$27.4K $13.51/SF
− OpEx
−$12.4K −$6.08/SF
NOI
$15.1K $7.43/SF
Area
St. Clair County, IL
Vacancy
6.20%
Lease Rate
$14.40 /SF/Yr
Expense Ratio
45.00%
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%
$301,920
Cap Rate 7%
$215,657
Cap Rate 9%
$167,733
Alternative Uses
Best Use
Multifamily LT 5
$239.4K
$209.5K – $279.3K
NOI $16,757 @ 7.0% cap · market cap 9.60%
Second Best
Apartment 5plus
$215.7K
$188.7K – $251.6K
NOI $15,096 @ 7.0% cap · market cap 8.65%
Theoretical Best
Office A
$481.0K
$420.9K – $561.2K
NOI $33,673 @ 7.0% cap · market cap 19.30%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
669
Businesses Nearby
Explore this area
Business Placement
Demographics for 62226, IL
29,156
Population
13,285
Households
2.2
Avg Household Size
42
Median Age
33%
College-Educated
94%
High-School Grad
13.9 sq mi
ZIP Area
2,098
Density / Sq Mi
$66,018
Median Household Income
$43,284
Median Earnings
$946
Median Rent
$162,500
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 - Ranch-style duplex on a 0.21-acre lot with two 2-bedroom, 1-bath units, central air, and a 1-car carport.
Where is this duplex located?
The property is located at 112 Kingsway Drive Belleville, IL.
What is the asking price?
The asking price for this property is $174,500.
What are key features of this property?
This property features: 0.21‑acre lot; Two units with two bedrooms and one bathroom each; 1‑car carport per unit
