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

    305 W College St, Unit 2 Carbondale, IL 62901

    Sponsored
    For Sale
    $85,000

    MULTI_FAMILY - Carbondale, IL

    Days on Market:
    66
    Last Refresh:
    Feb 23 at 5:06 am

    Property Features for 305 W College St

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Standard status
    Active
    APN
    15-21-334-001
    Parking
    5
    Interior features
    Cable Available, High Speed Internet
    Basement
    Unfinished, Full

    Utilities

    Heating system
    Electric (Heating), Natural Gas
    Cooling system
    Zoned
    Water source
    Public

    Building Details

    Number of units
    2
    Building materials
    Vinyl Siding
    Roof type
    Shingle

    We can help!

    Listing Contact
    Rolf Schilling

    Commercial Realty Associates (618) 303-0700

    Listing agent Rolf R Schilling

    Listing date Dec 20, 2025

    MLS# EB460771 Listing URL

    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.

    Learn more

    Property Insight Report

    Overview

    Spacious Duplex Near SIU

    This is a spacious duplex located in downtown Carbondale, within walking distance of SIU. The property features two units. The lower level unit includes 4 bedrooms and 2 bathrooms, while the upper level unit offers 2 bedrooms and 1 bathroom. This multifamily property presents an opportunity to become a registered landlord and lease out both units. Alternatively, an owner could reside in one unit and rent out the other.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Daycare Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Carbondale
    County
    Jackson
    State
    Illinois
    Longitude
    -89.218654
    Latitude
    37.721464

    Nearby Similar for Sale

    • $795,000
      1.39 Acres

      Remodeled Retail and Residential Property

      Three-story building with retail space, apartments, and storage.
      1051 S Wall St, Carbondale, IL 62901
      View Details
    • $215,000

      Spacious Student Housing Investment Property

      Move-in ready 6-bedroom, 5.5-bath home near campus.
      609 S Poplar St, Carbondale, IL 62901
      View Details
    • $329,000
      20.00 Acres

      Spacious Property with Barns

      Two-story home on 21 acres with multiple outbuildings.
      1250 E Park St, Carbondale, IL 62901
      View Details
    • $1,250,000

      Carbondale Multifamily Investment Opportunity

      Four well-maintained duplexes near SIU's West Campus.
      902 908, Carbondale, IL 62901
      View Details
    • $275,000
      0.21 Acres

      Carbondale Commercial Corner Property

      High-visibility commercial building near Southern Illinois University.
      718 S Illinois Ave, Carbondale, IL 62901
      View Details
    • $375,000
      1.00 Acre

      Versatile Commercial Property in Carbondale

      Spacious commercial property with office, warehouse, and multi-use functionality.
      1275 N Reed Station Rd, Carbondale, IL 62901
      View Details
    • $32,000

      Carbondale Multifamily Property Near SIU

      Multifamily property with four units near Southern Illinois University.
      406 S University Ave, Carbondale, IL 62901
      View Details
    • $479,000
      0.16 Acres

      Prime Carbondale Retail Storefront Opportunity

      Four retail spaces near upcoming Multimodal Station in downtown Carbondale.
      300 S Illinois Ave, Carbondale, IL 62901
      View Details
    • $827,000
      Pending

      Carbondale Office Building For Sale

      Modern office building with existing lease in Carbondale, Illinois.
      1401 Financial Dr, Carbondale, IL 62901
      View Details
    • $299,900
      Pending

      Four-Unit Building Near SIU & SIH

      Four-unit building with income potential in a private, rural location.
      105 N Violet Ln, Carbondale, IL 62901
      View Details
    • $575,000
      2.00 Acres

      Office/Warehouse Building with Storage

      Well-maintained office/warehouse with storage building on 2 acres.
      1300 N Reed Station Rd, Carbondale, IL 62901
      View Details
    • $1,250,000
      1.16 Acres

      Restaurant Opportunity on E. Main

      Former Steak 'N Shake with drive-through and ample parking.
      1365 E Main St, Carbondale, IL 62901
      View Details

    FAQs

    What type of property is this?
    Duplex - Duplex in downtown Carbondale, walking distance to SIU.
    Where is this duplex located?
    The property is located at 305 W College St, Unit 2 Carbondale, IL.
    What is the asking price?
    The asking price for this property is $85,000.
    What are key features of this property?
    This property features: - Walking distance to SIU (Southern Illinois University); - Duplex property suitable for rental income or owner-occupancy; - Lower level boasts 4 bedrooms and 2 baths
    (618) 303-0700
    Request Owner's contact information
    305 W College St, Unit 2 Carbondale, IL 62901
    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.
    305 W College St, Unit 2
    Carbondale, IL 62901
    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
    305 W College St, Unit 2 Carbondale, IL 62901
    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
    Rolf Schilling
    Real Estate License ID: 471012048
    (618) 303-0700 (618) 303-0701 (618) 549-9222
    Learn more
    Google sign-in failed. Please try again or use another login method.