Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Investment Opportunity: Multiple Residences Title is generated by Realmo AI

    307 Sandbach, Worden, IL 62097

    View on Map
    Claim this Listing
    For Sale
    $245,000

    Three parcels with rental potential: duplex and manufactured home.

    Type:Multi Family
    Property size:
    2,342 SF
    Price / SF:
    $104/SF
    Added:
    Apr 13, 2025
    Days on Market:
    415
    Last Refresh:
    May 28 at 3:15 pm

    Property Features for 307 Sandbach

    General Information

    Standard status
    Active
    Size
    2,342 SF
    Property subtype
    Multi Family

    Building Details

    Year Built
    1950

    We can help!

    Listing Contact
    Julia Kennedy

    Listing agent Julia Kennedy License #475.203745

    Listing office Landmark Realty

    Listing date Apr 13, 2025

    Source Exitrealty

    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 Landmark Realty

    HighLights

    • Multiple Residences on Three Parcels: Offers diverse rental or multi‑family living options.
    • Renovated Duplex Units: Includes a 2‑bedroom/1‑bath and a 3‑bedroom/1.5‑bath unit, renovated in 2022.
    • Updated Manufactured Home: Features 3‑bedrooms/2‑baths with recent updates including vinyl flooring, carpet (2023), roof (2021), and new appliances (2024).
    • Investment Opportunity: Ideal for investors seeking rental income potential.
    • Convenient Location: Provides easy access to amenities and services.
    • Month to Month Leases: Provides immediate income with flexibility.

    Overview

    This investment opportunity features three separate parcels with excellent rental or multi-family potential. Included is a duplex with a 2-bedroom, 1-bath unit and a 3-bedroom, 1.5-bath unit, with renovations completed in 2022. Additionally, there is a 1200 square foot manufactured home featuring 3-bedrooms and 2-baths, with vinyl flooring and carpet installed in 2023, a roof installed in 2021, and new appliances installed in 2024. This setup offers flexibility for investors, extended families, or those seeking rental income. The property is conveniently located with plenty of space and potential. Tenants are currently on month-to-month leases, with water, sewer, and trash included in the monthly rent. The sale includes three parcels: vacant lot parcel 12-2-04-26-16-402-113, mobile home parcel 12-2-04-26-16-402-014, and duplex parcel 12-2-04-26-16-402-015. The properties are being sold as-is.

    Local Financial Insights For Multifamily LT 5

    Simulate Cap Rate and NOI

    NOI Build-Up
    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.

    Component $ $/SF
    Gross rent $26.7k $11.40
    − Vacancy −$2.1k −$0.88
    EGI $24.6k $10.52
    − OpEx −$7.4k −$3.16
    NOI $17.3k $7.37
    2,342 SF · lease $11.40/SF/yr · vacancy 7.69% · expense 30.00%

    Alternative Uses

    Best Use
    Multifamily LT 5
    $246.5K
    $215.7K – $287.5K (±1% cap)
    NOI $17,252 @ 7.0% cap · market cap 7.04%
    Second Best
    Apartment 5plus
    $231.3K
    $202.4K – $269.9K (±1% cap)
    NOI $16,194 @ 7.0% cap · market cap 6.61%
    Theoretical Best
    Office A
    $638.4K
    $558.6K – $744.8K (±1% cap)
    NOI $44,685 @ 7.0% cap · market cap 18.24%
    Zoning and permitted uses should be independently verified with local authorities.
    Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Dental Office Auto Repair Shop Gym & Fitness Center Big Box & Wholesale Store Accounting Firm Hotel & Motel Bar & Pub (Bike/Boat/Book/etc) Store Storage Facility Wine and Liquor Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Worden
    County
    Madison
    State
    Illinois
    Longitude
    -89.835598
    Latitude
    38.936625

    Nearby Similar for Sale

    • $385,000
      3,300 SF

      Newly Built Brick Triplex

      New 2024 triplex with spacious units and ample parking.
      329 Rutledge Street, Worden, IL 62097
      View Details
    • $245,000
      2,342 SF

      Worden Income Property with Residences

      Investment opportunity with duplex and manufactured home in Worden.
      307 Sandbach, Worden, IL 62097
      View Details
    • $839,900
      3,223 SF

      Historic Estate with Modern Updates

      31-acre estate featuring historic charm, modern updates, and recreational amenities.
      7536 Prairietown Road, Worden, IL 62097
      View Details
    • $750,000
      12,808 SF

      Warehouse Property on 11.31 Acres

      Industrial property with warehouse space and outdoor storage.
      726 Main St, Worden, IL
      View Details
    • $385,000
      3,300 SF

      New All-Brick Triplex Investment

      Newly completed triplex with spacious units, ideal for investors.
      329 Rutledge Street, Worden, IL 62097
      View Details

    FAQs

    What type of property is this?
    Duplex - Three parcels with rental potential: duplex and manufactured home.
    Where is this duplex located?
    The property is located at 307 Sandbach Worden, IL.
    What is the asking price?
    The asking price for this property is $245,000.
    What are key features of this property?
    This property features: Multiple Residences on Three Parcels: Offers diverse rental or multi‑family living options.; Renovated Duplex Units: Includes a 2‑bedroom/1‑bath and a 3‑bedroom/1.5‑bath unit, renovated in 2022.; Updated Manufactured Home: Features 3‑bedrooms/2‑baths with recent updates including vinyl flooring, carpet (2023), roof (2021), and new appliances (2024).
    (618) 660-8204
    We can help!
    Listing Contact
    Julia Kennedy
    Real Estate License ID: 475.203745
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    307 Sandbach, Worden, IL 62097
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!