Brick Duplex with Full
For Sale
Under Contract
$275,000
113 E Apple Street, Freeburg, IL 62243
Residential Income, Freeburg, IL
Property Size2,560 SF
Lot Size0.38 Acres
Price / SF$107.42
Days on Market42
Property Features for 113 E Apple Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
6
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 5, Bedroom 1, Bathroom 2, Bedroom 4, Basement, Bedroom 2, Bedroom 6, Bathroom 3, Bedroom 3, Bathroom 1
Basement
Full
Subdivision
Phillips Add
Elementary school
FREEBURG DIST 70
Middle school
FREEBURG DIST 70
High school
Freeburg
Elementary school district
Freeburg DIST 70
Middle school district
Freeburg DIST 70
High school district
Freeburg DIST 70
Standard status
Active Under Contract
APN
14-29.0-100-015
Size
2,560 SF
Lot size
0.38 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
6362
Utilities
Cooling system
Central Air
Building Details
Year built
1965
Building materials
Brick
Listing Agency:
RE/MAX Preferred · RE/MAX International
(618) 624-2111
Listed By:
Kate Pearce · License #475156300
(618) 779-8396
Added: Aug 15
Changed: Sep 25
Last Checked: Sep 25 at 5:06PM
MLS# 26052408
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 brick duplex at 113 E Apple Street contains 2,560 square feet on a 0.38-acre lot. Built in 1965, the property includes two residential units, central air, and a full basement used for storage. The main-floor residence has three bedrooms and one full bathroom, while the upper unit provides three bedrooms and two full bathrooms. The basement also includes a bathroom, adding functional space beyond the two primary residences.
Located in Freeburg, Illinois, the property is identified in the 62243 postal area of St. Clair County. With the required approvals and a special variance, the basement may be converted into an additional residential unit. The existing layout supports separate residential occupancy, subject to applicable requirements.
Located in Freeburg, Illinois, the property is identified in the 62243 postal area of St. Clair County. With the required approvals and a special variance, the basement may be converted into an additional residential unit. The existing layout supports separate residential occupancy, subject to applicable requirements.
Key Highlights
- Two‑unit duplex with 2,560 square feet of property size
- 0.38‑acre lot in Freeburg, IL 62243
- Main‑level unit includes 3 bedrooms and 1 full bathroom
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
$21,112
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
7.68%
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%
$422,240
$422.2K
Cap Rate 7%
$301,600
$301.6K
Cap Rate 9%
$234,578
$234.6K
Market Conditions
NOI Build-Up for 2,560 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
$32.3K $12.60/SF
− Vacancy
−$2.1K −$0.82/SF
EGI
$30.2K $11.78/SF
− OpEx
−$9.0K −$3.53/SF
NOI
$21.1K $8.25/SF
Area
St. Clair County, IL
Vacancy
6.50%
Lease Rate
$12.60 /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%
$422,240
Cap Rate 7%
$301,600
Cap Rate 9%
$234,578
Alternative Uses
Best Use
Multifamily LT 5
$301.6K
$263.9K – $351.9K
NOI $21,112 @ 7.0% cap · market cap 7.68%
Second Best
Apartment 5plus
$271.7K
$237.7K – $317.0K
NOI $19,018 @ 7.0% cap · market cap 6.92%
Theoretical Best
Office A
$606.0K
$530.3K – $707.1K
NOI $42,423 @ 7.0% cap · market cap 15.43%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
195
Businesses Nearby
Explore this area
Business Placement
Demographics for 62243, IL
5,796
Population
2,537
Households
2.3
Avg Household Size
45
Median Age
34%
College-Educated
95%
High-School Grad
51.7 sq mi
ZIP Area
112
Density / Sq Mi
$93,328
Median Household Income
$48,947
Median Earnings
$1,100
Median Rent
$268,200
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Midwest region
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Frequently Asked Questions
What type of property is this?
Duplex - Two residential units offer six bedrooms, three full bathrooms, and additional basement space.
Where is this duplex located?
The property is located at 113 E Apple Street Freeburg, IL.
What is the asking price?
The asking price for this property is $275,000.
What are key features of this property?
This property features: Two‑unit duplex with 2,560 square feet of property size; 0.38‑acre lot in Freeburg, IL 62243; Main‑level unit includes 3 bedrooms and 1 full bathroom
