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    161-306 Eagle Ridge Dr O Fallon, IL 62269

    View on Map
    Sponsored
    For Sale
    $1,596,555

    5 Family or More, Traditional - O'Fallon, IL

    Days on Market:
    2
    Last Refresh:
    Mar 7 at 7:06 am

    Property Features for 161-306 Eagle Ridge Dr

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Standard status
    Active
    APN
    See Supplements
    Parking
    10
    Parking features
    Carport, Garage
    Exterior features
    Balcony

    Taxes and HOA fees

    Expense value
    11111111111
    Expense
    Home Owner Assessments Fee
    Expense freq.
    Monthly

    Utilities

    Heating system
    Forced Air
    Cooling system
    Central Air

    Building Details

    Year built
    1980
    Building materials
    Brick, Vinyl Siding
    Roof type
    Shingle
    Architectural style
    New Traditional

    We can help!

    Listing Contact
    Kevin Beck

    Kunkel Wittenauer Group (618) 632-8200

    Listing agent Kevin Beck (618) 632-8200 License #475199000

    Listing date Mar 6, 2026

    MLS# 26012429 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

    O'Fallon 17-Unit Condo Portfolio

    This is an exceptional opportunity to acquire a 17-unit income-producing condominium portfolio in O'Fallon. The stabilized offering includes a diversified mix of one- and two-bedroom residences across multiple phases within Eagle Ridge Condominiums. Currently, 15 of the 17 units are occupied with rents at or slightly above market, generating $233,400 in annual gross income. Several units have been remodeled, enhancing long-term value and tenant appeal. All units feature fireplaces, and select residences offer vaulted ceilings, adding character and desirability. Residents enjoy access to a community pool and clubhouse, supporting strong occupancy and retention. The property is ideally located just one block from the intersection of Highway 50 and North Greenmount Road with quick access to Interstate 64. It is less than 20 minutes to Scott Air Force Base and under 30 minutes to downtown St. Louis, positioning it well for consistent rental demand. HOA-managed exteriors help reduce owner maintenance responsibilities, covering exterior building maintenance with the exception of windows and doors. Many roofs, stairways, and siding sections throughout the community have recently been replaced or are currently being updated. It is ideal for 1031 exchange buyers or investors seeking scalable residential income in a stable Metro East market.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    1031 exchange properties

    Suggested Use

    Restaurant Real Estate Agency Law Firm Dental Office Big Box & Wholesale Store Auto Repair Shop Gym & Fitness Center Pharmacy Department Store Kitchen & Bath Showroom

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

    Location Insight

    • Map
    • Local Demand
    City
    O Fallon
    County
    St. Clair
    State
    Illinois
    Longitude
    -89.92758212
    Latitude
    38.59046633

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    FAQs

    What type of property is this?
    Apartment building - 17-unit income-producing condominium portfolio in O'Fallon, Illinois.
    Where is this apartment building located?
    The property is located at 161-306 Eagle Ridge Dr O Fallon, IL.
    What is the asking price?
    The asking price for this property is $1,596,555.
    What are key features of this property?
    This property features: - Stabilized 17-unit condominium portfolio generating $233,400 in annual gross income, with 15 units currently occupied.; - Convenient location near Highway 50, North Greenmount Road, Interstate 64, Scott Air Force Base, and downtown St. Louis.; - HOA-managed exteriors reduce owner maintenance responsibilities; many roofs, stairways, and siding sections recently updated.
    (618) 632-8200
    Request Owner's contact information
    161-306 Eagle Ridge Dr O Fallon, IL 62269
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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
    161-306 Eagle Ridge Dr O Fallon, IL 62269
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    We can help!
    Listing Contact
    Kevin Beck
    Real Estate License ID: 475199000
    (618) 632-8200 (618) 550-8762
    Learn more
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