Brick Duplex with Detached 1-Car
For Sale
$160,000
Pending
528 E Main Street, Collinsville, IL 62234
MULTI_FAMILY - Other - Collinsville, IL
Property Size1,923 SF
Lot Size0.18 Acres
Days on Market38
Property Features for 528 E Main Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
5
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 3, Bathroom 2, Bedroom 3, Bedroom 2, Bedroom 1, Basement, Bedroom 4, Bathroom 1, Bedroom 5
Parking
1
Basement
Unfinished
Subdivision
Collins E W Second Add
Elementary school
COLLINSVILLE DIST 10
Middle school
COLLINSVILLE DIST 10
High school
Collinsville
Elementary school district
Collinsville DIST 10
Middle school district
Collinsville DIST 10
High school district
Collinsville DIST 10
Directions
159 to Main St
Standard status
Pending
APN
13-2-21-34-05-105-007
Size
1,923 SF
Lot size
0.18 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
COLLINS E W SECOND ADD TO COLL LOT 52X148.5
Tax Annual Amount
3302
Legal Description
COLLINS E W SECOND ADD TO COLL LOT 52X148.5
Utilities
Utilities
Cable Available
Heating system
Natural Gas, Forced Air
Cooling system
Central Air
Water source
Public
Amenities
laundry hookups
Building Details
Year built
1900
Floors in Building
2
Building materials
Brick, Vinyl Siding
Architectural style
Other
Listing Agency:
RE/MAX Alliance · RE/MAX International
(618) 345-2111
Listed By:
Andrew Wilde · License #475128471
(618) 975-6043
Added: Jul 12
Changed: Aug 8
Last Checked: Aug 18 at 1:06AM
MLS# 26030634
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 two-unit duplex includes a main-level Unit A and an upstairs Unit B. Unit A features three bedrooms and two bathrooms, a spacious living room, kitchen, laundry hookups, and an additional flexible room that can serve as a family room or dining area. Unit B offers two bedrooms and one bathroom, along with a kitchen and additional storage space. The property also includes a basement and an oversized detached 1-car garage located at the rear, providing extra storage and/or parking options.
Built in 1900 with brick and vinyl siding, the home is heated with natural gas forced air and cooled with central air. Water is provided via public supply, and cable is available. The property is described as conveniently located near interstates for an easy commute, and within walking distance to Uptown Collinsville festivals, restaurants, and events.
Overall, the layout supports either investor ownership or owner-occupancy with rental income, with separate unit configurations across the main and upper levels.
Built in 1900 with brick and vinyl siding, the home is heated with natural gas forced air and cooled with central air. Water is provided via public supply, and cable is available. The property is described as conveniently located near interstates for an easy commute, and within walking distance to Uptown Collinsville festivals, restaurants, and events.
Overall, the layout supports either investor ownership or owner-occupancy with rental income, with separate unit configurations across the main and upper levels.
Key Highlights
- Two‑unit duplex with main‑level Unit A and upstairs Unit B
- Unit A: 3 bedrooms, 2 bathrooms, laundry hookups, kitchen, spacious living room, flexible room
- Unit B: 2 bedrooms, 1 bathroom, kitchen, additional storage
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
$14,165
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
8.85%
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%
$283,300
$283.3K
Cap Rate 7%
$202,357
$202.4K
Cap Rate 9%
$157,389
$157.4K
Market Conditions
NOI Build-Up for 1,923 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
$21.9K $11.40/SF
− Vacancy
−$1.7K −$0.88/SF
EGI
$20.2K $10.52/SF
− OpEx
−$6.1K −$3.16/SF
NOI
$14.2K $7.37/SF
Area
Madison County, IL
Vacancy
7.69%
Lease Rate
$11.40 /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%
$283,300
Cap Rate 7%
$202,357
Cap Rate 9%
$157,389
Alternative Uses
Best Use
Multifamily LT 5
$202.4K
$177.1K – $236.1K
NOI $14,165 @ 7.0% cap · market cap 8.85%
Second Best
Apartment 5plus
$190.0K
$166.2K – $221.6K
NOI $13,297 @ 7.0% cap · market cap 8.31%
Theoretical Best
Office A
$524.2K
$458.6K – $611.5K
NOI $36,691 @ 7.0% cap · market cap 22.93%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
597
Businesses Nearby
Explore this area
Business Placement
Demographics for 62234, IL
31,843
Population
14,947
Households
2.1
Avg Household Size
40
Median Age
27%
College-Educated
92%
High-School Grad
37.3 sq mi
ZIP Area
854
Density / Sq Mi
$66,437
Median Household Income
$41,710
Median Earnings
$995
Median Rent
$162,000
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two-unit duplex with central air, natural gas forced-air heat, and an oversized detached 1-car garage for added storage or parking.
Where is this duplex located?
The property is located at 528 E Main Street Collinsville, IL.
What is the asking price?
The asking price for this property is $160,000.
What are key features of this property?
This property features: Two‑unit duplex with main‑level Unit A and upstairs Unit B; Unit A: 3 bedrooms, 2 bathrooms, laundry hookups, kitchen, spacious living room, flexible room; Unit B: 2 bedrooms, 1 bathroom, kitchen, additional storage
