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    187 Goulding Street East Alton, IL 62024

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    Claim this Listing
    For Sale
    $54,900

    2-4 Units - East Alton, IL

    Property size:
    1,288 SF
    Lot size:
    0.10 Acres
    Price / SF:
    $42/SF
    Added:
    Apr 14, 2026
    Days on Market:
    25
    Last Refresh:
    May 8 at 12:06 pm

    Property Features for 187 Goulding Street

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Interior features
    Dining/Living Room Combo, Shower
    Appliances
    Cooktop
    Standard status
    Active
    APN
    19-2-08-16-17-303-029
    Size
    1,288 SF
    Lot size
    0.10 Acres

    Taxes and HOA fees

    Tax Year
    2024
    Tax Annual Amount
    1505

    Utilities

    Cooling system
    Multi Units, Wall/Window Unit(s), Window Unit(s)

    Building Details

    Year built
    1920
    Number of units
    2
    Flooring type
    Tile, Tile - Ceramic
    Building materials
    Vinyl Siding
    Roof type
    Asphalt
    Architectural style
    Other

    We can help!

    Listing Contact
    Misael Chacon

    Listing agent Misael Chacon License #471.021523

    Listing office Beycome Brokerage Realty LLC 5701 Sunset Drive, Ste 224, miami, IL

    Listing date Apr 14, 2026

    MLS# 25078754 Listing URL

    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.

    HighLights

    • 23%+ Net Return on Investment
    • Three Units: Duplex and Single Family
    • Vacant and Ready for Rehab
    • Separate Utility Meters (Electric, Water, Gas)
    • Over $30K in Value Add
    • Cheap to Maintain

    Overview

    East Alton Investment Opportunity

    This property features a duplex and a single-family home, totaling three units. The property is vacant and ready for rehabilitation. Each unit has separate electric, water, and gas meters. The lot size is 0.1033 acres with a property size of 1288 square feet. Located in East Alton, Illinois, the property is positioned near a larger city.
    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 Pharmacy

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

    Location Insight

    • Map
    • Local Demand
    City
    East Alton
    County
    Madison
    State
    Illinois
    Longitude
    -90.111919
    Latitude
    38.878326

    Nearby Similar for Sale

    • $229,900
      4,658 SF

      East Alton Commercial Office Building

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      344 W Saint Louis Avenue, East Alton, IL 62024
      View Details
    • $400,000

      East Alton Retail/Office Buildings

      Two brick buildings totaling 39,000 SF on 3.3 acres.
      655 Berkshire Boulevard, East Alton, IL 62024
      View Details
    • $60,000
      2,100 SF

      East Alton Commercial Building Sale

      Commercial building suitable for various businesses in centralized location.
      25 S 9th Street, East Alton, IL 62024
      View Details

    FAQs

    What type of property is this?
    Duplex - Three unit property in East Alton, ready for rehab.
    Where is this duplex located?
    The property is located at 187 Goulding Street East Alton, IL.
    What is the asking price?
    The asking price for this property is $54,900.
    What are key features of this property?
    This property features: 23%+ Net Return on Investment; Three Units: Duplex and Single Family; Vacant and Ready for Rehab
    (847) 865-9309
    We can help!
    Listing Contact
    Misael Chacon
    Real Estate License ID: 471.021523
    Learn More
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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
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