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    2821 Edwards Street Granite City, IL 62040

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    Claim this Listing
    For Sale
    $250,000

    Residential Income, Craftsman,Ranch - Granite City, IL

    Property size:
    2,165 SF
    Lot size:
    0.34 Acres
    Price / SF:
    $115/SF
    Added:
    Nov 9, 2025
    Days on Market:
    178
    Last Refresh:
    May 6 at 11:06 pm

    Property Features for 2821 Edwards Street

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Rooms
    Basement
    Parking features
    Garage
    Interior features
    High Ceilings, Laminate Counters, Lever Faucets, Natural Woodwork, Separate Dining, Shower, Storage, Tub
    Exterior features
    Level, Storage
    Basement Y/N
    1
    Appliances
    Range, Range - Gas, Refrigerator
    Standard status
    Active
    APN
    22-2-20-17-19-401-010
    Size
    2,165 SF
    Lot size
    0.34 Acres

    Taxes and HOA fees

    Tax Year
    2024
    Tax Annual Amount
    2467

    Utilities

    Heating system
    Forced Air, Natural Gas
    Cooling system
    Central Air

    Building Details

    Year built
    1870
    Floors in Building
    1
    Number of units
    2
    Flooring type
    Hardwood, Vinyl
    Building materials
    Brick, Stone, Vinyl Siding
    Roof type
    Asphalt
    Architectural style
    Craftsman
    Additional Structures
    Storage

    We can help!

    Listing Contact
    Scott Weber

    Listing agent Scott Weber License #475185120

    Listing office Fusion Realty, LLC One 157 Center, Collinsville, IL

    Listing date Nov 9, 2025

    MLS# 25075318 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

    • Two separate brick bungalow homes on one lot, offering multiple income streams or multi‑generational living.
    • Each home is fully self‑contained with private entrances, driveways, porches, utilities, and full basements.
    • Both homes feature new stainless steel appliances, updated kitchens and bathrooms, and upgraded plumbing, electrical, HVAC, and water heaters.
    • Front home: 2 bedrooms, 1 bath with refinished wood flooring.
    • Rear home: 3 bedrooms, 1 bath with main floor laundry.
    • Priced at $250K, equating to $125K per unit.

    Overview

    Two Detached Homes, One Lot

    This property features two brick bungalow homes on a single lot, offering multiple revenue streams. It is suitable for rental income, long-term tenants, or multi-generational living, allowing one to live in one and rent the other. Each residence is self-contained with private entrances, separate driveways, front porches, individual utilities, and full basements. A detached storage building is divided into two separate units, each with its own private entrance dedicated to each home. The total property size is 2165 square feet, situated on a 0.3415-acre lot. The front home includes 2 bedrooms and 1 bath, featuring new stainless steel appliances, refinished wood flooring, new kitchen cabinets with butcher block counter and sink, an updated bathroom, plumbing, electrical, HVAC, water heater, doors, lighting, fans, and trim. The rear home features 3 bedrooms, 1 bath, and main floor laundry, also equipped with new stainless steel appliances, new kitchen cabinets, new laminate counter and sink, an updated bathroom, plumbing, electrical, HVAC, water heater, doors, lighting, and fans, and trim. Located in Granite City, Illinois, this property offers an opportunity to secure yield and long-term upside.
    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 Accounting Firm

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

    Location Insight

    • Map
    • Local Demand
    City
    Granite City
    County
    Madison
    State
    Illinois
    Longitude
    -90.1204
    Latitude
    38.705334

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    FAQs

    What type of property is this?
    Duplex - Two homes on one lot, ideal for rental income.
    Where is this duplex located?
    The property is located at 2821 Edwards Street Granite City, IL.
    What is the asking price?
    The asking price for this property is $250,000.
    What are key features of this property?
    This property features: Two separate brick bungalow homes on one lot, offering multiple income streams or multi‑generational living.; Each home is fully self‑contained with private entrances, driveways, porches, utilities, and full basements.; Both homes feature new stainless steel appliances, updated kitchens and bathrooms, and upgraded plumbing, electrical, HVAC, and water heaters.
    (618) 409-1100
    We can help!
    Listing Contact
    Scott Weber
    Real Estate License ID: 475185120
    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.

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