Ranch-Style Brick
For Sale
Under Contract
$184,900
170 Liberty Drive, Belleville, IL 62226
MULTI_FAMILY - Belleville, IL
Property Size2,216 SF
Lot Size0.23 Acres
Price / SF$83.44
Days on Market16
Property Features for 170 Liberty Drive
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
3
Bathrooms
1
Full bathrooms
1
Rooms
Bedroom 1, Bedroom 3, Bedroom 2, Bathroom 1
Parking
2
Subdivision
Friendly Acres 4th 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 Under Contract
APN
08-18.0-200-015
Size
2,216 SF
Lot size
0.23 Acres
Taxes and HOA fees
Tax Year
2024
Tax Annual Amount
3743
Utilities
Heating system
Forced Air
Cooling system
Central Air
Water source
Public
Building Details
Year built
1969
Floors in Building
1
Number of units
2
Building materials
Brick Veneer
Listing Agency:
Johnston Realty, Inc.
(618) 233-8802
Listed By:
Gary Johnston · License #471004014
(618) 779-4124
Added: Jul 22
Changed: Aug 4
Last Checked: Aug 6 at 3:06PM
MLS# 26045204
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.
Ranch-style brick duplex with brick veneer exterior construction. Each unit offers three bedrooms and one bathroom. The property is heated with forced air and cooled with central air, with water provided by public source.
The duplex sits on a 0.23-acre lot and totals 2,216 square feet. One side is currently vacant, while the other side is occupied. Built in 1969, this duplex is located at 170 Liberty Drive in Belleville, Illinois.
The duplex sits on a 0.23-acre lot and totals 2,216 square feet. One side is currently vacant, while the other side is occupied. Built in 1969, this duplex is located at 170 Liberty Drive in Belleville, Illinois.
Key Highlights
- Two‑unit ranch‑style brick duplex with three bedrooms and one bathroom per unit
- One side is currently vacant, with the other side occupied
- 2,216 SF on a 0.23‑acre lot
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
$16,463
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
8.90%
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%
$329,260
$329.3K
Cap Rate 7%
$235,186
$235.2K
Cap Rate 9%
$182,922
$182.9K
Market Conditions
NOI Build-Up for 2,216 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
$31.9K $14.40/SF
− Vacancy
−$2.0K −$0.89/SF
EGI
$29.9K $13.51/SF
− OpEx
−$13.5K −$6.08/SF
NOI
$16.5K $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%
$329,260
Cap Rate 7%
$235,186
Cap Rate 9%
$182,922
Alternative Uses
Best Use
Multifamily LT 5
$261.1K
$228.4K – $304.6K
NOI $18,275 @ 7.0% cap · market cap 9.88%
Second Best
Apartment 5plus
$235.2K
$205.8K – $274.4K
NOI $16,463 @ 7.0% cap · market cap 8.90%
Theoretical Best
Office A
$524.6K
$459.0K – $612.0K
NOI $36,722 @ 7.0% cap · market cap 19.86%
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
693
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 brick duplex with central air and forced-air heat, on public water, built in 1969.
Where is this duplex located?
The property is located at 170 Liberty Drive Belleville, IL.
What is the asking price?
The asking price for this property is $184,900.
What are key features of this property?
This property features: Two‑unit ranch‑style brick duplex with three bedrooms and one bathroom per unit; One side is currently vacant, with the other side occupied; 2,216 SF on a 0.23‑acre lot
