Two-Unit Duplex with Basement
For Sale
$160,000
124 N Virginia Ave, Belleville, IL 62220
Both residences include upper-level bedrooms and a main-floor half bath.
Property Size1,120 SF
Price / SF$142.86
Days on Market62
Property Features for 124 N Virginia Ave
General Information
Standard status
Active
Size
1,120 SF
Property subtype
Multi-Family
Building Details
Year Built
1905
Listing Agency:
Mustard Seed Realty
Listed By:
Tristan Reising
(618) 900-1007
Source:
Nations-network
Added: Aug 16
Changed: Oct 15
Last Checked: Oct 16 at 10:34AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Mustard Seed Realty
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Investment Insights
Based on property information with market context.
Located at 124 N Virginia Avenue in Belleville, Illinois, this 1905 duplex contains two matching 2-bedroom, 1.5-bath residences. Each side includes large upstairs bedrooms, a full bathroom, and a half bath on the main level. Basement space provides additional storage for the property.
The left residence has new carpet installed in 2025 along with updated cabinets. The right side is occupied by a long-term tenant, while the left side also has a tenant in place. The two-unit configuration offers separate living spaces within one multifamily property.
The left residence has new carpet installed in 2025 along with updated cabinets. The right side is occupied by a long-term tenant, while the left side also has a tenant in place. The two-unit configuration offers separate living spaces within one multifamily property.
Key Highlights
- Two‑unit duplex with two 2‑bedroom, 1.5‑bath residences
- 1905 construction in Belleville, Illinois
- Each side includes a main‑floor half bath and upstairs full bath
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$9,236
Cap Rate
5.77%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$184,720
$184.7K
Cap Rate 7%
$131,943
$131.9K
Cap Rate 9%
$102,622
$102.6K
Market Conditions
NOI Build-Up for 1,120 SF
Gross rent
$14.1K $12.60/SF
− Vacancy
−$917 −$0.82/SF
EGI
$13.2K $11.78/SF
− OpEx
−$4.0K −$3.53/SF
NOI
$9.2K $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 Rate 5%
$184,720
Cap Rate 7%
$131,943
Cap Rate 9%
$102,622
Alternative Uses
Best Use
Multifamily LT 5
$131.9K
$115.5K – $153.9K
NOI $9,236 @ 7.0% cap · market cap 5.77%
Second Best
Apartment 5plus
$118.9K
$104.0K – $138.7K
NOI $8,320 @ 7.0% cap · market cap 5.20%
Theoretical Best
Office A
$265.1K
$232.0K – $309.3K
NOI $18,560 @ 7.0% cap · market cap 11.60%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
479
Businesses Nearby
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Business Placement
Demographics for 62220, IL
19,474
Population
8,784
Households
2.2
Avg Household Size
39
Median Age
28%
College-Educated
93%
High-School Grad
28.9 sq mi
ZIP Area
674
Density / Sq Mi
$65,261
Median Household Income
$37,105
Median Earnings
$976
Median Rent
$141,300
Median Home Value
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Duplex - Both residences include upper-level bedrooms and a main-floor half bath.
Where is this duplex located?
The property is located at 124 N Virginia Ave Belleville, 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 two 2‑bedroom, 1.5‑bath residences; 1905 construction in Belleville, Illinois; Each side includes a main‑floor half bath and upstairs full bath
