Renovated Duplex Near Main
For Sale
$159,000
29 N 14th St, Belleville, IL 62220
Two-unit residential property with one recently updated apartment available for occupancy.
Property Size1,122 SF
Price / SF$141.71
Days on Market40
Property Features for 29 N 14th St
General Information
Standard status
Active
Size
1,122 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Building Details
Buildings
1
Listing Agency:
Property Peddler, Inc
(618) 791-3289
Listed By:
Brad Chandler · License #475162275
Source:
Nations-network
Added: Jul 21
Changed: Aug 28
Last Checked: Aug 29 at 11:36AM
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 Property Peddler, Inc
Investment Insights
Based on property information with market context.
This duplex contains 1,122 square feet and is configured as two separate residences. Each apartment includes two bedrooms and one bathroom, providing a consistent layout across the property. One unit has been recently renovated and is vacant, while the second apartment is occupied.
The property is located at 29 N 14th St in Belleville, Illinois, just off Main Street. Its two-unit configuration and combination of an updated vacant apartment with an occupied unit provide a straightforward residential income property setup.
The property is located at 29 N 14th St in Belleville, Illinois, just off Main Street. Its two-unit configuration and combination of an updated vacant apartment with an occupied unit provide a straightforward residential income property setup.
Key Highlights
- 1,122‑square‑foot duplex at 29 N 14th St, Belleville, IL 62220
- Two units, each with 2 bedrooms and 1 bathroom
- One unit is vacant and newly renovated
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
$9,253
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
5.82%
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%
$185,060
$185.1K
Cap Rate 7%
$132,186
$132.2K
Cap Rate 9%
$102,811
$102.8K
Market Conditions
NOI Build-Up for 1,122 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
$14.1K $12.60/SF
− Vacancy
−$919 −$0.82/SF
EGI
$13.2K $11.78/SF
− OpEx
−$4.0K −$3.53/SF
NOI
$9.3K $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 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%
$185,060
Cap Rate 7%
$132,186
Cap Rate 9%
$102,811
Alternative Uses
Best Use
Multifamily LT 5
$132.2K
$115.7K – $154.2K
NOI $9,253 @ 7.0% cap · market cap 5.82%
Second Best
Apartment 5plus
$119.1K
$104.2K – $138.9K
NOI $8,335 @ 7.0% cap · market cap 5.24%
Theoretical Best
Office A
$265.6K
$232.4K – $309.9K
NOI $18,593 @ 7.0% cap · market cap 11.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
665
Businesses Nearby
Explore this area
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
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two-unit residential property with one recently updated apartment available for occupancy.
Where is this duplex located?
The property is located at 29 N 14th St Belleville, IL.
What is the asking price?
The asking price for this property is $159,000.
What are key features of this property?
This property features: 1,122‑square‑foot duplex at 29 N 14th St, Belleville, IL 62220; Two units, each with 2 bedrooms and 1 bathroom; One unit is vacant and newly renovated
