Newly Built Duplex
4620 Tess Drive Springfield, IL 62711
New
For Sale
$450,000
Newly constructed duplex condo with three bedrooms, two full baths, and an oversized three-car garage.
Property Size2,624 SF
Price / SF$171.49
Days on Market6
Property Features for 4620 Tess Drive
General Information
Standard status
Active
Size
2,624 SF
Property subtype
Commercial
Building Details
Year Built
2026
Listing Agency:
RE/MAX Professionals
Listed By:
Melissa Vorreyer ([email protected])
Source:
Curveyrealestate
Added: Jul 23
Changed: Jul 24
Last Checked: Jul 25 at 9:11AM
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 RE/MAX Professionals
Investment Insights
Based on property information with market context.
Newly constructed duplex condo built by Montgomery Home Builders Inc, offering three bedrooms and two full baths. The main level features wide-plank white oak hardwood floors, Pella casement windows, and an open layout with a custom electric corner fireplace and a large sliding door to a covered patio. The designer kitchen includes a large quartz island with breakfast bar, farmhouse sink, corner pantry, and stainless appliances.
The primary suite is designed with a custom tile shower with dual shower heads, a freestanding soaking tub, and a double quartz vanity, along with a walk-in closet. Two additional main-floor bedrooms provide flexibility for guests or a home office.
A finished lower-level family room adds living space and is already plumbed for a future fourth bedroom and full bath. The exterior includes stone and vertical LP siding, and the property also offers an oversized three-car garage. Located on Springfield’s west side in the Pleasant Plains School District.
The primary suite is designed with a custom tile shower with dual shower heads, a freestanding soaking tub, and a double quartz vanity, along with a walk-in closet. Two additional main-floor bedrooms provide flexibility for guests or a home office.
A finished lower-level family room adds living space and is already plumbed for a future fourth bedroom and full bath. The exterior includes stone and vertical LP siding, and the property also offers an oversized three-car garage. Located on Springfield’s west side in the Pleasant Plains School District.
Key Highlights
- Newly constructed duplex condo (Year Built 2026) with 3 bedrooms, 2 full baths, and an oversized 3‑car garage.
- Main level features wide‑plank white oak hardwood floors and Pella casement windows.
- Designer kitchen includes a quartz island with breakfast bar, farmhouse sink, corner pantry, and stainless appliances.
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 | $36.2k | $13.80 |
| − Vacancy | −$1.3k | −$0.49 |
| EGI | $34.9k | $13.31 |
| − OpEx | −$10.5k | −$3.99 |
| NOI | $24.5k | $9.32 |
2,624 SF · lease $13.80/SF/yr · vacancy 3.52% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$349.4K
$305.7K – $407.6K
NOI $24,456 @ 7.0% cap · market cap 5.43%
Second Best
Apartment 5plus
$305.0K
$266.8K – $355.8K
NOI $21,347 @ 7.0% cap · market cap 4.74%
Theoretical Best
Office A
$644.2K
$563.7K – $751.6K
NOI $45,097 @ 7.0% cap · market cap 10.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Duplex - Newly constructed duplex condo with three bedrooms, two full baths, and an oversized three-car garage.
Where is this duplex located?
The property is located at 4620 Tess Drive Springfield, IL.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: Newly constructed duplex condo (Year Built 2026) with 3 bedrooms, 2 full baths, and an oversized 3‑car garage.; Main level features wide‑plank white oak hardwood floors and Pella casement windows.; Designer kitchen includes a quartz island with breakfast bar, farmhouse sink, corner pantry, and stainless appliances.
