Add Listing
    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

    2202 ILLINOIS Avenue unit 3 & 4 Murphysboro, IL 62966

    View on Map
    For Sale
    $109,000

    MULTI_FAMILY - Murphysboro, IL

    Added:
    Aug 16, 2024
    Days on Market:
    595
    Last Refresh:
    Apr 2 at 8:06 am

    Property Features for 2202 ILLINOIS Avenue unit 3 & 4

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Parking
    2
    Parking features
    Carport
    Basement
    Crawl Space
    Standard status
    Active
    APN
    09-32-452-013

    Taxes and HOA fees

    TaxYear
    2024
    TaxDescription
    WELLS ADD LOT 3 458/15 613/175 806/201 848/382 1054/509 2013/23966 LOT SIZE 50 X 150
    TaxAnnualAmount
    3996

    Utilities

    Cooling system
    Central Air
    Water source
    Public

    Building Details

    Year built
    1984
    Number of units
    2
    Building materials
    Brick, Vinyl Siding
    Roof type
    Shingle

    We can help!

    Listing Contact
    Robert A Davenport
    Robert A Davenport

    Listing agent Robert A Davenport License #471019751

    Listing office RE/MAX Realty Central 1825 W MAIN ST, IL, IL

    Listing date Aug 16, 2024

    MLS# EB454698

    Copyright © 2025 RMLS Alliance. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Murphysboro Multifamily Investment Opportunity

    This property in Murphysboro, Illinois, presents a multifamily investment opportunity. It features two units, each containing 2 bedrooms and one bathroom. Each unit also includes an attached carport. The property is located in Jackson County.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Law Firm Auto Repair Shop Department Store Food Market Accounting Firm HVAC Service Bar & Pub Garden Center Computer & Electronic Repair (Bike/Boat/Book/etc) Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Murphysboro
    County
    Jackson
    State
    Illinois
    Longitude
    -89.3610065
    Latitude
    37.7745721

    Nearby Similar for Sale

    • $650,000

      Historic Murphysboro Event Center

      Historic event center and gaming facility in downtown Murphysboro.
      1329 WALNUT Street, Murphysboro, IL 62966
      View Details
    • $150,000

      Murphysboro Multi-Story Brick Building

      14,000 sq ft multi-story building in Murphysboro, Illinois.
      1501 PINE Street, Murphysboro, IL 62966
      View Details
    • $199,000

      Well-Maintained Duplex in Murphysboro, IL

      Duplex near Route 13, ideal for investors or landlords.
      5559 COUNTRY CLUB Road, Murphysboro, IL 62966
      View Details
    • $525,000

      Mixed-Use Investment Opportunity

      Income-generating property with apartments, storage units, and RV/boat parking.
      10543 State Highway 149, Murphysboro, IL 62966
      View Details
    • $89,900
      1,701 SF

      Versatile Commercial Space in Murphysboro

      Adaptable commercial property suitable for various business or educational purposes.
      507 N 9th, Murphysboro, IL 62966
      View Details
    • $199,000

      Murphysboro Four-Unit Apartment Complex

      Charming, updated four-unit apartment complex in Murphysboro, fully rented.
      1408 MANNING Street, Murphysboro, IL 62966
      View Details
    • $109,000

      Murphysboro Multifamily Investment Opportunity

      Two-unit property in Murphysboro, ideal for rental income.
      2202 ILLINOIS Avenue unit: 1 & 2, Murphysboro, IL 62966
      View Details
    • $1,190,000
      21,996 SF

      Murphysboro Multifamily Portfolio Investment Opportunity

      27-unit, six-property multifamily portfolio in Murphysboro, Illinois for sale.
      153 Youngman Rd, Murphysboro, IL 62966
      View Details
    • $225,000

      Updated Fourplex Investment Opportunity

      Four-unit property with recent updates in a rural setting.
      1457 W Lake Rd, Murphysboro, IL 62966
      View Details
    • $109,000
      2,016 SF

      Duplex Investment Opportunity

      Two-unit property ideal for rental income generation.
      2202 Illinois Ave, Murphysboro, IL 62966
      View Details

    FAQs

    What type of property is this?
    Duplex - Two-unit property with carports, ideal for rental income.
    Where is this duplex located?
    The property is located at 2202 ILLINOIS Avenue unit 3 & 4 Murphysboro, IL.
    What is the asking price?
    The asking price for this property is $109,000.
    What are key features of this property?
    This property features: Two separate units offer immediate rental income potential.; Each unit includes 2 bedrooms and 1 bathroom.; Each unit has an attached carport.
    (618) 924-3644
    We can help!
    Listing Contact
    Robert A Davenport
    Robert A Davenport
    Real Estate License ID: 471019751
    Learn More
    Request Owner's contact information
    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.
    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
    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

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!