Brick Duplex with Full
New
For Sale
$275,000
113 E Apple Street, Freeburg, IL 62243
MULTI_FAMILY - Freeburg, IL
Property Size2,560 SF
Lot Size0.38 Acres
Price / SF$107.42
Days on Market6
Property Features for 113 E Apple Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
6
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 1, Bedroom 5, Bathroom 3, Bedroom 6, Bedroom 2, Basement, Bedroom 4, Bathroom 2, Bedroom 3, Bedroom 1
Basement
Full
Subdivision
Phillips Add
Elementary school
FREEBURG DIST 70
Middle school
FREEBURG DIST 70
High school
Freeburg
Elementary school district
Freeburg DIST 70
Middle school district
Freeburg DIST 70
High school district
Freeburg DIST 70
Standard status
Active
APN
14-29.0-100-015
Size
2,560 SF
Lot size
0.38 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
6362
Utilities
Cooling system
Central Air
Building Details
Year built
1965
Building materials
Brick
Listing Agency:
RE/MAX Preferred · RE/MAX International
(618) 624-2111
Listed By:
Kate Pearce · License #475156300
(618) 531-4887
Added: Aug 15
Changed: Aug 19
Last Checked: Aug 20 at 7:06PM
MLS# 26052408
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 2,560-square-foot brick duplex was built in 1965 and contains two established residential units. The main-level residence offers three bedrooms and one full bathroom, while the upper-level residence provides three bedrooms and two full bathrooms. Central air serves the property.
A full basement is currently configured for storage and includes a bathroom. Conversion to another residential unit would require the appropriate approvals and a special variance. The property occupies 0.38 acres at 113 E Apple Street in Freeburg, St. Clair County, Illinois, within ZIP code 62243.
A full basement is currently configured for storage and includes a bathroom. Conversion to another residential unit would require the appropriate approvals and a special variance. The property occupies 0.38 acres at 113 E Apple Street in Freeburg, St. Clair County, Illinois, within ZIP code 62243.
Key Highlights
- 2,560‑square‑foot brick duplex built in 1965
- Two residential units with a 3‑bedroom/1‑bath and 3‑bedroom/2‑bath layout
- Full basement used for storage with an additional bathroom
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
$21,112
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
7.68%
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%
$422,240
$422.2K
Cap Rate 7%
$301,600
$301.6K
Cap Rate 9%
$234,578
$234.6K
Market Conditions
NOI Build-Up for 2,560 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
$32.3K $12.60/SF
− Vacancy
−$2.1K −$0.82/SF
EGI
$30.2K $11.78/SF
− OpEx
−$9.0K −$3.53/SF
NOI
$21.1K $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%
$422,240
Cap Rate 7%
$301,600
Cap Rate 9%
$234,578
Alternative Uses
Best Use
Multifamily LT 5
$301.6K
$263.9K – $351.9K
NOI $21,112 @ 7.0% cap · market cap 7.68%
Second Best
Apartment 5plus
$271.7K
$237.7K – $317.0K
NOI $19,018 @ 7.0% cap · market cap 6.92%
Theoretical Best
Office A
$606.0K
$530.3K – $707.1K
NOI $42,423 @ 7.0% cap · market cap 15.43%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
195
Businesses Nearby
Explore this area
Business Placement
Demographics for 62243, IL
5,796
Population
2,537
Households
2.3
Avg Household Size
45
Median Age
34%
College-Educated
95%
High-School Grad
51.7 sq mi
ZIP Area
112
Density / Sq Mi
$93,328
Median Household Income
$48,947
Median Earnings
$1,100
Median Rent
$268,200
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?
Duplex - Two residential units include six bedrooms, three full baths, and a basement with additional bathroom space.
Where is this duplex located?
The property is located at 113 E Apple Street Freeburg, IL.
What is the asking price?
The asking price for this property is $275,000.
What are key features of this property?
This property features: 2,560‑square‑foot brick duplex built in 1965; Two residential units with a 3‑bedroom/1‑bath and 3‑bedroom/2‑bath layout; Full basement used for storage with an additional bathroom
