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    Duplex with Vacant Lot Title is generated by Realmo AI

    3312 Market Avenue, East St Louis, IL 62207

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    Residential Income - East St Louis, IL

    Property size:
    2,520 SF
    Lot size:
    0.28 Acres
    Price / SF:
    $5/SF
    Added:
    Jan 22, 2026
    Days on Market:
    119
    Last Refresh:
    May 21 at 4:06 pm

    Property Features for 3312 Market Avenue

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Rooms
    Basement
    Basement Y/N
    1
    Standard status
    Active
    APN
    02-30.0-400-006
    Size
    2,520 SF
    Lot size
    0.28 Acres

    Taxes and HOA fees

    Tax Year
    2024
    Tax Annual Amount
    1347

    Building Details

    Year built
    1902
    Architectural style
    Other

    We can help!

    Listing Contact
    Ryan Widerberg
    Ryan Widerberg

    Listing agent Ryan Widerberg License #475.121545

    Listing office eXp Realty 10 N. Martingale Rd, Schaumburg, IL

    Listing date Jan 22, 2026

    MLS# 26000607 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

    • Income‑generating duplex offering dual income streams and superior cash flow.
    • Adjacent vacant lot included, offering opportunities for parking, expansion, development, or separate sale.
    • Large property: 1,680 sq ft above grade with an 840 sq ft basement.
    • House hacking potential: live in one unit and rent out the other.
    • Three separate PINs included in the sale.
    • Located on Market St.

    Overview

    This property features a two-unit income property and an adjacent vacant lot, totaling 0.28 acres. The duplex has an estimated six bedrooms and two bathrooms, with 1,680 square feet above grade and an additional 840 square feet in the basement, resulting in a total of 2,520 square feet. The property includes three separate PINs. Potential uses include dual income streams, vacancy diversification, house hacking, and superior cash flow. The vacant lot presents opportunities for a parking lot, expanded yard, future development, or separate sale. The property is suited for experienced landlords, BRRRR investors, and contractors with historic renovation experience. The property is sold "where is and as is".
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Restaurant Hair Salon Auto Repair Shop Auto Parts Store Bar & Pub Grocery & Convenience Store Food Market Grocery & Convenience Store Electronics & Wireless Store Travel Agency

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

    Location Insight

    • Map
    • Local Demand
    City
    East St Louis
    County
    St. Clair
    State
    Illinois
    Longitude
    -90.1360944
    Latitude
    38.5942412

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    FAQs

    What type of property is this?
    Commercial land - Two-unit income property with bonus land in East St. Louis.
    Where is this commercial land located?
    The property is located at 3312 Market Avenue East St Louis, IL.
    What is the asking price?
    The asking price for this property is Off market.
    What are key features of this property?
    This property features: Income‑generating duplex offering dual income streams and superior cash flow.; Adjacent vacant lot included, offering opportunities for parking, expansion, development, or separate sale.; Large property: 1,680 sq ft above grade with an 840 sq ft basement.
    (847) 849-7748
    We can help!
    Listing Contact
    Ryan Widerberg
    Ryan Widerberg
    Real Estate License ID: 475.121545
    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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