Two-Unit Residential Income
For Sale
$379,900
Pending
1324 48th Court, Cicero, IL 60804
Two-unit building in excellent condition with central air in both units and newer flooring on the second floor.
Property Size1,990 SF
Days on Market88
Property Features for 1324 48th Court
General Information
Standard status
Pending
Size
1,990 SF
Total Parking Spaces
3
Property subtype
Two to Four Units / 2 Flat
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$5,983
Amenities
central air conditioning
Building Details
Year Built
1911
Tenancy
Multi
Listing Agency:
RE/MAX 10
Listed By:
Ernestina Preciado · License #475147360
(630) 235-3216
Source:
Compass
Added: Jun 19
Changed: Sep 10
Last Checked: Sep 13 at 11:11AM
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 10
Investment Insights
Based on property information with market context.
This two-unit residential income building is reported to be in excellent condition. Each unit has central air conditioning, and the apartments are described as well maintained. The second-floor unit features brand new floors, and the owner’s unit is noted as impeccable.
The property is located at 1324 48th Court in Cicero, Illinois. No additional details on exterior features, parking, or surrounding tenants are provided.
The building’s current layout supports a straightforward two-unit configuration, with updates highlighted for the second floor and strong overall condition across both apartments.
The property is located at 1324 48th Court in Cicero, Illinois. No additional details on exterior features, parking, or surrounding tenants are provided.
The building’s current layout supports a straightforward two-unit configuration, with updates highlighted for the second floor and strong overall condition across both apartments.
Key Highlights
- Two‑unit building built in 1911
- Both units have central air conditioning
- Second‑floor unit features brand new floors
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
$25,822
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
6.80%
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%
$516,440
$516.4K
Cap Rate 7%
$368,886
$368.9K
Cap Rate 9%
$286,911
$286.9K
Market Conditions
NOI Build-Up for 1,990 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
$39.9K $20.04/SF
− Vacancy
−$3.0K −$1.50/SF
EGI
$36.9K $18.54/SF
− OpEx
−$11.1K −$5.56/SF
NOI
$25.8K $12.98/SF
Area
Cook County, IL
Vacancy
7.50%
Lease Rate
$20.04 /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%
$516,440
Cap Rate 7%
$368,886
Cap Rate 9%
$286,911
Alternative Uses
Best Use
Multifamily LT 5
$368.9K
$322.8K – $430.4K
NOI $25,822 @ 7.0% cap · market cap 6.80%
Second Best
Apartment 5plus
$329.8K
$288.6K – $384.8K
NOI $23,086 @ 7.0% cap · market cap 6.08%
Theoretical Best
Office A
$687.1K
$601.2K – $801.6K
NOI $48,094 @ 7.0% cap · market cap 12.66%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
658
Businesses Nearby
Explore this area
Business Placement
Demographics for 60804, IL
85,673
Population
26,738
Households
3.2
Avg Household Size
32
Median Age
11%
College-Educated
68%
High-School Grad
7.1 sq mi
ZIP Area
12,067
Density / Sq Mi
$68,548
Median Household Income
$36,786
Median Earnings
$1,121
Median Rent
$236,000
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two-unit building in excellent condition with central air in both units and newer flooring on the second floor.
Where is this duplex located?
The property is located at 1324 48th Court Cicero, IL.
What is the asking price?
The asking price for this property is $379,900.
What are key features of this property?
This property features: Two‑unit building built in 1911; Both units have central air conditioning; Second‑floor unit features brand new floors
