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

    406 CEDAR Centralia, IL 62801

    View on Map
    For Sale
    $119,900

    MULTI_FAMILY - Centralia, IL

    Added:
    Dec 1, 2025
    Days on Market:
    121
    Last Refresh:
    Apr 1 at 9:06 am

    Property Features for 406 CEDAR

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Parking
    2
    Basement
    Unfinished, Full
    Standard status
    Active
    APN
    14-00-056-485

    Taxes and HOA fees

    TaxYear
    2024
    TaxDescription
    ERBES SUB. DIV. N 1/2 LOT 4 & ALL LOT 3 BLK 102
    TaxAnnualAmount
    2994

    Utilities

    Heating system
    Natural Gas, Hot Water(Heating)
    Water source
    Public

    Building Details

    Year built
    1933
    Number of units
    2
    Building materials
    Brick
    Roof type
    Shingle

    We can help!

    Listing Contact
    Darlene M Baltzell
    Darlene M Baltzell

    Listing agent Darlene M Baltzell License #475122206

    Listing office Rod Snow, INC. 1519 E. MCCORD, Centralia, IL

    Listing date Dec 1, 2025

    MLS# EB460636

    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

    Centralia IL Brick Duplex

    This is an all-brick duplex, presenting a potential investment opportunity. Unit 1 features approximately 1000 square feet of living space, including 3 bedrooms and 1 bathroom, a large living room, ample storage, and a kitchen equipped with appliances. Unit 2 offers approximately 825 square feet, with 2 bedrooms and 1 bathroom, a large living room, and a kitchen with appliances. Each unit is equipped with 3 window air conditioning units and washer/dryer hookups. A laundry area is also available in the basement. Each unit includes a 1-car garage. The landlord currently covers gas, water, sewer, and trash pickup, while tenants are responsible for their electric bills. The property is currently occupied by tenants and is located in Centralia, Illinois.
    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 Daycare Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Centralia
    County
    Marion
    State
    Illinois
    Longitude
    -89.1265
    Latitude
    38.52201

    Nearby Similar for Sale

    • $300,000

      Versatile Commercial Property in Centralia

      Highly visible commercial property with flexible space and recent updates.
      705 S POPLAR Street, Centralia, IL 62801
      View Details
    • $84,000

      Versatile Commercial Building in Centralia

      High-visibility commercial property with offices, retail, and warehouse space.
      125 N Walnut Street, Centralia, IL 62801
      View Details
    • $119,900

      Centralia Commercial Office Building For Sale

      Commercial office building near hospital, suitable for medical or other businesses.
      205 N DAVIS Avenue, Centralia, IL 62801
      View Details
    • $99,900

      Centralia Church and Home

      Church with home on 1.1 acres in Centralia, Illinois.
      1502 S PINE Street, Centralia, IL 62801
      View Details
    • $3,818,473

      Retail Investment Opportunity

      Retail property with national tenants in a dense retail corridor.
      1301-1309 W. Broadway, Centralia, IL 62801
      View Details
    • $86,000

      Centralia Farm Land For Sale

      20 acre farm land available in Centralia, Illinois.
      0 Felton Rd, Centralia, IL 62801
      View Details
    • $30,000
      2,600 SF

      Centralia Triplex: Investment Opportunity

      Three-unit building in Centralia, Illinois, ideal for investment.
      236 South Cherry Street, Centralia, IL 62801
      View Details
    • $45,000

      Centralia Commercial Property on Broadway

      Commercial property in Centralia's downtown district with strong potential.
      320 W BROADWAY Avenue, Centralia, IL 62801
      View Details
    • $28,000
      2,278 SF

      Centralia Duplex: Rehab Opportunity

      Two single-family homes on one parcel, ideal for investment.
      226 N Lincoln Boulevard, Centralia, IL 62801
      View Details
    • $65,000

      Furnished Duplex in Centralia, IL

      Furnished duplex with rental income potential or single-family conversion.
      404 N BEECH Street, Centralia, IL 62801
      View Details
    • $220,000
      6,400 SF

      Downtown Centralia Office Building

      Five-unit office building in downtown Centralia, Illinois.
      237 S LOCUST Street, Centralia, IL 62801
      View Details
    • $1,300,000
      64,561 SF

      64,561 SF Office/Warehouse on 9.91 Acres

      64,561 SF office/warehouse on 9.91 acres near Norfolk Southern Rail.
      823 Aaron Pkwy, Centralia, IL
      View Details

    FAQs

    What type of property is this?
    Duplex - All brick duplex in Centralia, Illinois, great investment property.
    Where is this duplex located?
    The property is located at 406 CEDAR Centralia, IL.
    What is the asking price?
    The asking price for this property is $119,900.
    What are key features of this property?
    This property features: All brick duplex, offering durability.; Two separate units (approx. 1000 sq. ft with 3 beds/1 bath and 825 sq. ft with 2 beds/1 bath), providing rental income potential.; Each unit includes a kitchen with appliances and washer/dryer hookups.
    (618) 292-5665
    We can help!
    Listing Contact
    Darlene M Baltzell
    Darlene M Baltzell
    Real Estate License ID: 475122206
    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!