New All-Brick Triplex
329 Rutledge Street, Worden, IL 62097
Newly completed triplex with spacious units, ideal for investors.
Type:Multi Family
Property size:
3,300 SFPrice / SF:
$116/SF- Added:
- Apr 13, 2025
- Days on Market:
- 415
- Last Refresh:
- May 28 at 3:15 pm
Property Features for 329 Rutledge Street
General Information
- Standard status
- Active
- Size
- 3,300 SF
- Property subtype
- Multi Family
Building Details
- Year Built
- 2024
Listing agent Julia Kennedy License #475.203745 (618) 660-8204
Listing office Landmark Realty (618) 660-8204
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
- Newly Constructed Triplex (2024): Enjoy modern construction and potentially lower maintenance costs.
- All‑Brick Construction: Provides durability and aesthetic appeal.
- Multiple Units: Features two 2‑bedroom/1‑bath units and one 3‑bedroom/2‑bath unit, offering diverse rental options.
- Investment Opportunity: Ideal for investors seeking to expand their portfolio.
- Ample Parking: Provides convenience for tenants.
- Package Deal Option: Can be purchased with an additional investment property across the street for a discounted price.
Overview
This newly completed all-brick triplex, built in 2024, presents an investment opportunity. The property features two 2-bedroom, 1-bath units and one 3-bedroom, 2-bath unit. The property size is 3300 square feet. Ample parking is available. The property is located in Worden, Illinois. Tenants are currently on a month-to-month lease. The property is 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 | $37.6k | $11.40 |
| − Vacancy | −$2.9k | −$0.88 |
| EGI | $34.7k | $10.52 |
| − OpEx | −$10.4k | −$3.16 |
| NOI | $24.3k | $7.37 |
3,300 SF · lease $11.40/SF/yr · vacancy 7.69% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$347.3K
$303.9K – $405.2K
NOI $24,309 @ 7.0% cap · market cap 6.31%
Second Best
Apartment 5plus
$326.0K
$285.2K – $380.3K
NOI $22,818 @ 7.0% cap · market cap 5.93%
Theoretical Best
Office A
$899.5K
$787.1K – $1.05M
NOI $62,964 @ 7.0% cap · market cap 16.35%
Zoning and permitted uses should be independently verified with local authorities.
Location Intelligence
Current Use by Public Records
Triplexes
Location Insight
- Map
- Local Demand
- City
- Worden
- County
- Madison
- State
- Illinois
- Longitude
- -89.83623
- Latitude
- 38.935738
Nearby Similar for Sale
FAQs
What type of property is this?
Triplex - Newly completed triplex with spacious units, ideal for investors.
Where is this triplex located?
The property is located at 329 Rutledge Street Worden, IL.
What is the asking price?
The asking price for this property is $385,000.
What are key features of this property?
This property features: Newly Constructed Triplex (2024): Enjoy modern construction and potentially lower maintenance costs.; All‑Brick Construction: Provides durability and aesthetic appeal.; Multiple Units: Features two 2‑bedroom/1‑bath units and one 3‑bedroom/2‑bath unit, offering diverse rental options.
