Building Details

Year Built 1980

Buildings 3

Listing Agency: Keller Williams Marquee

Listed By: Julie Mayfield · License #475119652 Show Phone

Source: Nations-network

Added: Sep 9 Changed: Sep 16 Last Checked: Sep 24 at 11:08AM

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Investment Insights

Based on property information with market context.

This multifamily property includes two separate residences and a workshop on a fenced 0.45-acre parcel. The primary home offers 4 bedrooms and 3 baths, an open layout, updated flooring in the living and dining areas, a wood-burning fireplace, walk-out basement, central vacuum system, and a lower-level bonus area. Its attached garage measures 16 x 24.5 feet.

The second residence contains 2 bedrooms and 1 bath, with an open-concept design and main-floor laundry. The home requires repairs or improvements, providing flexibility for renovation or additional occupancy. A detached 38 x 11-foot workshop has electricity, wood flooring, and a garage-style door sized for a riding lawnmower. All three structures have newer roofs, and the property provides parking for both residences. The improvements date to 1980.

Key Highlights

• Two residences on one fenced 0.45‑acre parcel
• Primary home includes 4 bedrooms, 3 baths, walk‑out basement, and 16 x 24.5‑foot garage
• Second residence offers 2 bedrooms, 1 bath, open‑concept layout, and main‑floor laundry

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

$11,368

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

7.00%

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%

$227,360 $227.4K

Cap Rate 7%

$162,400 $162.4K

Cap Rate 9%

$126,311 $126.3K

Market Conditions

NOI Build-Up for 1,644 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

$22.5K $13.68/SF

− Vacancy

−$1.8K −$1.11/SF

EGI

$20.7K $12.57/SF

− OpEx

−$9.3K −$5.66/SF

NOI

$11.4K $6.91/SF

Area

Madison County, IL

Vacancy

8.10%

Lease Rate

$13.68 /SF/Yr

Expense Ratio

45.00%

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%

$227,360

Cap Rate 7%

$162,400

Cap Rate 9%

$126,311

Alternative Uses

Best Use

Apartment 5plus

$162.4K

$142.1K – $189.5K (±1% cap)

NOI $11,368 @ 7.0% cap · market cap 7.00%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$448.1K

$392.1K – $522.8K (±1% cap)

NOI $31,368 @ 7.0% cap · market cap 19.30%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Multifamily properties

Suggested Use

Top Pick Building Supply Auto Repair Shop Restaurant Auto Parts Store Big Box & Wholesale Store HVAC Service

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

2

Residential units

Location Intelligence

Trade Area within ½ mile

28

Businesses Nearby

Explore this area Business Placement

Demographics for 62018, IL

3,412

Population

1,220

Households

2.8

Avg Household Size

37

Median Age

6%

College-Educated

81%

High-School Grad

3.3 sq mi

ZIP Area

1,034

Density / Sq Mi

$41,750

Median Household Income

$31,181

Median Earnings

$1,018

Median Rent

$78,400

Median Home Value

Market

Vacancy Rate% for Multifamily in Midwest region

6.5% 2022

7.5% 2023

7.8% 2024

8% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this multifamily properties located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Multifamily property - Two residences and a separate workshop share a fenced parcel with parking for both homes.

Where is this multifamily property located?

The property is located at 1333 11th St Cottage Hills, IL.

What is the asking price?

The asking price for this property is $162,500.

What are key features of this property?

This property features: Two residences on one fenced 0.45‑acre parcel; Primary home includes 4 bedrooms, 3 baths, walk‑out basement, and 16 x 24.5‑foot garage; Second residence offers 2 bedrooms, 1 bath, open‑concept layout, and main‑floor laundry