Listing Agency: RE/MAX Realty Associates m***@gmail.com Show Phone

Listed By: Michael Hogue · License #475134094 Show Phone

Source: Exprealty

Added: Aug 18 Changed: Aug 29 Last Checked: Aug 29 at 7:31PM

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Investment Insights

Based on property information with market context.

This four-unit apartment property in Saybrook includes three one-bedroom, one-bath residences and one two-bedroom, one-bath residence. The mix offers a range of apartment configurations within a single multifamily building, while spacious bedrooms support practical residential layouts.

Interior improvements include new paint, updated flooring, and modern lighting throughout. Two apartments have also been refurbished and are ready for occupancy. Building updates include a newer roof and a newer water heater serving the entire property. The property is located at 114 E Lincoln St in Saybrook, Illinois.

Key Highlights

• Four‑unit multifamily building at 114 E Lincoln St, Saybrook, IL
• Unit mix includes three one‑bedroom, one‑bath apartments and one two‑bedroom, one‑bath apartment
• Fresh paint, updated flooring, and modern lighting throughout

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

$10,236

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

4.55%

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%

$204,720 $204.7K

Cap Rate 7%

$146,229 $146.2K

Cap Rate 9%

$113,733 $113.7K

Market Conditions

NOI Build-Up for 1,470 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

$15.2K $10.32/SF

− Vacancy

−$548 −$0.37/SF

EGI

$14.6K $9.95/SF

− OpEx

−$4.4K −$2.98/SF

NOI

$10.2K $6.96/SF

Area

McLean County, IL

Vacancy

3.61%

Lease Rate

$10.32 /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%

$204,720

Cap Rate 7%

$146,229

Cap Rate 9%

$113,733

Alternative Uses

Best Use

Multifamily LT 5

$146.2K

$128.0K – $170.6K (±1% cap)

NOI $10,236 @ 7.0% cap · market cap 4.55%

Second Best

Apartment 5plus

$128.0K

$112.0K – $149.3K (±1% cap)

NOI $8,960 @ 7.0% cap · market cap 3.98%

Theoretical Best

Office A

$306.4K

$268.1K – $357.5K (±1% cap)

NOI $21,450 @ 7.0% cap · market cap 9.53%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

Quadplexes

Suggested Use

Top Pick Storage Facility Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon Pet Grooming Service

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

4

Residential units

Location Intelligence

Trade Area within ½ mile

50

Businesses Nearby

Explore this area Business Placement

Demographics for 61770, IL

996

Population

424

Households

2.3

Avg Household Size

44

Median Age

13%

College-Educated

82%

High-School Grad

60.5 sq mi

ZIP Area

16

Density / Sq Mi

$62,212

Median Household Income

$38,750

Median Earnings

$888

Median Rent

$101,000

Median Home Value

Market

Vacancy Rate% for Multifamily in Midwest region

6.5% 2022

7.5% 2023

7.8% 2024

8% 2025

Questions? Ask Rey

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Frequently Asked Questions

What type of property is this?

Quadplex - Unit mix includes three one-bedroom apartments and one two-bedroom apartment, with refreshed interiors and building-wide mechanical updates.

Where is this quadplex located?

The property is located at 114 E Lincoln St Saybrook, IL.

What is the asking price?

The asking price for this property is $225,000.

What are key features of this property?

This property features: Four‑unit multifamily building at 114 E Lincoln St, Saybrook, IL; Unit mix includes three one‑bedroom, one‑bath apartments and one two‑bedroom, one‑bath apartment; Fresh paint, updated flooring, and modern lighting throughout