Triplex with Garage for Up to 6
For Sale
$169,900
506 N 17th Street, Belleville, IL 62226
MULTI_FAMILY - Belleville, IL
Property Size1,865 SF
Lot Size0.27 Acres
Price / SF$91.10
Days on Market32
Property Features for 506 N 17th Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
3
Bathrooms
3
Full bathrooms
3
Rooms
Basement, Bedroom 1, Bedroom 2, Bathroom 3, Bedroom 3, Bathroom 2, Bathroom 1
Parking features
Driveway
Basement
Unfinished
Appliances
Electric Range, Refrigerator
Subdivision
West End Heights
Elementary school
BELLEVILLE DIST 118
Middle school
BELLEVILLE DIST 118
High school
Belleville High School-East
Elementary school district
Belleville DIST 118
Middle school district
Belleville DIST 118
High school district
Belleville DIST 118
Standard status
Active
APN
08-21.0-111-006
Size
1,865 SF
Lot size
0.27 Acres
Taxes and HOA fees
Tax Year
2023
Tax Annual Amount
3339
Utilities
Heating system
Forced Air
Cooling system
Central Air, Window Unit(s), Wall/Window Unit(s)
Water source
Public
Building Details
Year built
1907
Number of units
3
Building materials
Vinyl Siding
Roof type
Shingle
Listing Agency:
Real Broker LLC
(630) 423-5891
Listed By:
Jake Kline · License #2020015376
(855) 450-0442
Added: Jul 22
Changed: Aug 4
Last Checked: Aug 22 at 9:06PM
MLS# 26041866
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.
Investment Insights
Based on property information with market context.
This triplex investment includes three residential units and a garage that has been used as a workshop and is currently rented as a fourth unit. The property totals 1,865 SF on a 0.27-acre lot and was built in 1907. Exterior materials include vinyl siding and a shingle roof. Each unit is described as code compliant, with tenants responsible for their own electricity because each unit has its own meter. Water/sewer and trash are included in the rent.
Mechanical and unit updates include new flooring and paint, new appliances, newer electric, and a new lower level HVAC. The home is supported by three separate 100-amp services and three separate furnaces. Cooling includes window A/C for two units, along with central air. Heating is forced air. The property also includes a driveway for parking.
Located at 506 N 17th Street in Belleville, IL 62226, this setup is designed to support separate utility responsibility per unit while consolidating multiple living areas under one property.
Mechanical and unit updates include new flooring and paint, new appliances, newer electric, and a new lower level HVAC. The home is supported by three separate 100-amp services and three separate furnaces. Cooling includes window A/C for two units, along with central air. Heating is forced air. The property also includes a driveway for parking.
Located at 506 N 17th Street in Belleville, IL 62226, this setup is designed to support separate utility responsibility per unit while consolidating multiple living areas under one property.
Key Highlights
- Three units plus garage unit used as a workshop, currently rented as a fourth unit
- Tenants pay their own electricity via individual meters; water/sewer and trash are included
- Three separate 100‑amp services and three separate furnaces
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$15,380
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
9.05%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$307,600
$307.6K
Cap Rate 7%
$219,714
$219.7K
Cap Rate 9%
$170,889
$170.9K
Market Conditions
NOI Build-Up for 1,865 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$23.5K $12.60/SF
− Vacancy
−$1.5K −$0.82/SF
EGI
$22.0K $11.78/SF
− OpEx
−$6.6K −$3.53/SF
NOI
$15.4K $8.25/SF
Area
St. Clair County, IL
Vacancy
6.50%
Lease Rate
$12.60 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$307,600
Cap Rate 7%
$219,714
Cap Rate 9%
$170,889
Alternative Uses
Best Use
Multifamily LT 5
$219.7K
$192.3K – $256.3K
NOI $15,380 @ 7.0% cap · market cap 9.05%
Second Best
Apartment 5plus
$197.9K
$173.2K – $230.9K
NOI $13,855 @ 7.0% cap · market cap 8.15%
Theoretical Best
Office A
$441.5K
$386.3K – $515.1K
NOI $30,906 @ 7.0% cap · market cap 18.19%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
389
Businesses Nearby
Explore this area
Business Placement
Demographics for 62226, IL
29,156
Population
13,285
Households
2.2
Avg Household Size
42
Median Age
33%
College-Educated
94%
High-School Grad
13.9 sq mi
ZIP Area
2,098
Density / Sq Mi
$66,018
Median Household Income
$43,284
Median Earnings
$946
Median Rent
$162,500
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Three units plus a garage unit, with tenants responsible for their own electricity via individual meters and meters/services for each unit.
Where is this triplex located?
The property is located at 506 N 17th Street Belleville, IL.
What is the asking price?
The asking price for this property is $169,900.
What are key features of this property?
This property features: Three units plus garage unit used as a workshop, currently rented as a fourth unit; Tenants pay their own electricity via individual meters; water/sewer and trash are included; Three separate 100‑amp services and three separate furnaces
