Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    204 Gilbert St Belleville, IL 62226

    Sponsored
    For Sale
    Pending
    $150,000

    2-4 Units - Belleville, IL

    Property size:
    2,064 SF
    Lot size:
    0.16 Acres
    Days on Market:
    4
    Last Refresh:
    Jan 21 at 10:06 pm

    Property Features for 204 Gilbert St

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Standard status
    Pending
    APN
    08-21.0-213-034
    Parking features
    Carport
    Size
    2,064 SF
    Lot size
    0.16 Acres

    Utilities

    Heating system
    Forced Air, Natural Gas
    Cooling system
    Central Air, Electric

    Building Details

    Year built
    1926
    Number of units
    2
    Building materials
    Brick, Brick Veneer
    Architectural style
    Other

    We can help!

    Listing Contact
    Cari Brunner

    RE/MAX Preferred (618) 531-4887 [email protected]

    Listing agent Cari Brunner (618) 624-2111 License #475130898

    Listing date Jan 18, 2026

    MLS# 25029433 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

    Charming Duplex in Belleville, IL

    This charming all-brick duplex presents an opportunity for investors or owner-occupants seeking rental income. The main floor unit features a large living room with laminate wood floors, archways, and a fireplace. Double French doors lead to the main floor bedroom, with a second bedroom located off the dining room and full bath. The eat-in kitchen includes white cabinetry and appliances. A laundry area is also located on the main floor. The basement, previously finished as living quarters, includes a bathroom (currently not operating), multiple bonus rooms, and a space formerly used as a kitchen. The property includes a fenced backyard with a lower deck and an upper deck entrance providing access to the second unit. The upper unit, currently occupied by a long-term tenant, features two bedrooms, a dining area or bonus room off the kitchen, a living room, and a bath. Additional storage is available in a garage off the alley and a shed. The property is being sold as-is. Buyer and buyer's agent to confirm all information. The property is located in Belleville, Illinois.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Belleville
    County
    St. Clair
    State
    Illinois
    Longitude
    -89.98729
    Latitude
    38.524627

    Nearby Similar for Sale

    • $799,000
      5,890 SF

      Versatile Mixed-Use Commercial Building

      Multi-use commercial building in O'Fallon with live-work potential.
      101 Springfield Ct, O Fallon, IL 62269
      View Details
    • $535,000
      3.81 Acres

      Belleville Mixed-Use Property with Charm

      3,428 sq ft home with business potential on 3.81 acres.
      110 Fullerton Rd, Belleville, IL 62226
      View Details
    • $240,000
      2,926 SF

      Mixed-Use Building Near Downtown Belleville

      Two-story mixed-use property with commercial space and updated apartment.
      719 Centreville Ave, Belleville, IL 62220
      View Details
    • $450,000
      5,100 SF

      Historic Belleville Loft Income Property

      Four loft units in downtown Belleville, generating income.
      511 E Main St, Belleville, IL 62220
      View Details
    • New
      $255,000
      3.20 Acres

      O'Fallon Land with Barn

      3.2 acres in O’Fallon, IL with barn and stables.
      937 Rowe Ln, O Fallon, IL 62269
      View Details
    • $500,000
      61,787 SF

      Belleville Mixed-Use Redevelopment Opportunity

      61,787 SF facility on 17.53 acres with redevelopment potential.
      1901 Mascoutah Ave, Belleville, IL 62220
      View Details
    • $149,900
      2,344 SF

      Belleville Duplex: Investment Opportunity

      Updated duplex in Belleville, ideal for investors or owner-occupants.
      619 E Mckinley St, Belleville, IL 62220
      View Details
    • $325,000
      3,400 SF

      Downtown Belleville Commercial Space

      Turnkey commercial building in the heart of Downtown Belleville.
      7 S High St, Belleville, IL 62220
      View Details
    • $600,000
      8,736 SF

      Belleville Multifamily Building with Apartments

      Well-maintained 8-unit apartment building in Belleville, Illinois.
      8612 W Main St, Belleville, IL 62223
      View Details
    • $129,900
      3,300 SF

      Belleville Residential Income Property

      Residential income property featuring multiple units in Belleville, Illinois.
      326 Portland Ave, Belleville, IL 62220
      View Details
    • $269,999
      1,246 SF

      Belleville Multifamily Investment Opportunity

      Five-unit residential building near downtown Belleville.
      208 S Charles St, Belleville, IL 62220
      View Details
    • $127,900
      1,437 SF

      Belleville Commercial Building with Equipment

      Turnkey commercial building with equipment in high-traffic Belleville location.
      507 Sherman St, Belleville, IL 62221
      View Details

    FAQs

    What type of property is this?
    Duplex - Charming brick duplex with income potential in Belleville, Illinois.
    Where is this duplex located?
    The property is located at 204 Gilbert St Belleville, IL.
    What is the asking price?
    The asking price for this property is $150,000.
    What are key features of this property?
    This property features: - Duplex property ideal for investors or owner-occupants seeking rental income.; - Main floor unit features a LARGE LIVING ROOM with laminate wood floors, archways, and a FIREPLACE.; - Includes all appliances in the eat-in kitchen and main floor laundry area.
    (618) 830-8622
    Request Owner's contact information
    204 Gilbert St Belleville, IL 62226
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    204 Gilbert St
    Belleville, IL 62226
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    204 Gilbert St Belleville, IL 62226
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Cari Brunner
    Real Estate License ID: 475130898
    (618) 830-8622
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.