All-Brick Duplex with Garage
For Sale
$280,000
1428 Lowell Avenue, Springfield, IL 62704
MULTI_FAMILY - Springfield, IL
Property Size3,000 SF
Price / SF$93.33
Days on Market15
Property Features for 1428 Lowell Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
6
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 2, Bedroom 5, Bedroom 2, Bedroom 4, Bedroom 3, Bedroom 6, Bathroom 1, Bedroom 1
Parking
2
Parking features
Open
Interior features
Storage, Cable Available
Fencing
Fenced
Basement
Unfinished, Full
Subdivision
Hawthorne Place
Lot features
Level
High school
Springfield District #186
Directions
GPS Friendly
Standard status
Active
APN
22-04.0-128-026
Taxes and HOA fees
Tax Year
2025
Tax Description
W 112' L 21 B 2 HAWTHORNE PLACE
Tax Annual Amount
5129
Legal Description
W 112' L 21 B 2 HAWTHORNE PLACE
Utilities
Heating system
Radiant, Hot Water(Heating), Natural Gas
Water source
Public
Building Details
Year built
1920
Number of units
2
Building materials
Brick
Roof type
Rubber, Shingle
Additional Structures
Storage
Listing Agency:
The Real Estate Group, Inc.
(217) 787-7000
Listed By:
Joshua Kruse · License #475144896
(217) 816-9405
Added: Jul 16
Changed: Jul 22
Last Checked: Jul 30 at 11:06PM
MLS# CA1045165
Copyright © 2026 RMLS Alliance. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This classic American Foursquare duplex features all-brick construction and garage parking. The property includes two units, each with approximately 1,500 square feet, plus a full basement that offers storage and unit-dedicated washers and dryers that convey with the home. Interior features include refinished true hardwood flooring, original custom built-ins, radiant heat, and a wood-burning fireplace. The upper level has been updated with a fully renovated kitchen including new cabinets, granite counters, fixtures and hardware, a custom tile backsplash, and stainless-steel appliances, along with a bathroom refresh with newly tiled floors, a new vanity, a toilet, and a walk-in shower.
Located in Springfield’s Hawthorne Place neighborhood, the home is described as being within walking distance to Washington Park south of downtown, with quick access to I-55, downtown employers, and the medical district. An easy-to-maintain yard supports the property’s rental use.
The unfinished attic provides additional storage, or potential space to expand, while the main level is noted as being in good condition with opportunities for minor paint touchups to further improve presentation.
Located in Springfield’s Hawthorne Place neighborhood, the home is described as being within walking distance to Washington Park south of downtown, with quick access to I-55, downtown employers, and the medical district. An easy-to-maintain yard supports the property’s rental use.
The unfinished attic provides additional storage, or potential space to expand, while the main level is noted as being in good condition with opportunities for minor paint touchups to further improve presentation.
Key Highlights
- Classic American Foursquare duplex with all‑brick construction, built in 1920
- 2 units with approx. 1,500 SF each and a reported rental history of $3,200/mo
- Radiant heat with natural gas plus a wood‑burning fireplace, and hot water (heating) listed
Financial Insights For Apartment 5plus
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 | $46.1k | $15.36 |
| − Vacancy | −$1.7k | −$0.57 |
| EGI | $44.4k | $14.79 |
| − OpEx | −$20.0k | −$6.66 |
| NOI | $24.4k | $8.14 |
3,000 SF · lease $15.36/SF/yr · vacancy 3.70% · expense 45.00%
Alternative Uses
Best Use
Multifamily LT 5
$399.4K
$349.5K – $466.0K
NOI $27,960 @ 7.0% cap · market cap 9.99%
Second Best
Apartment 5plus
$348.7K
$305.1K – $406.8K
NOI $24,406 @ 7.0% cap · market cap 8.72%
Theoretical Best
Office A
$736.6K
$644.5K – $859.3K
NOI $51,559 @ 7.0% cap · market cap 18.41%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
869
Businesses Nearby
Explore this area
Business Placement
Demographics for 62704, IL
39,157
Population
20,706
Households
1.9
Avg Household Size
40
Median Age
42%
College-Educated
95%
High-School Grad
12.2 sq mi
ZIP Area
3,210
Density / Sq Mi
$66,352
Median Household Income
$44,793
Median Earnings
$924
Median Rent
$166,900
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 - All-brick duplex offers garage parking, renovated upper unit updates, and unit-dedicated washers and dryers included.
Where is this duplex located?
The property is located at 1428 Lowell Avenue Springfield, IL.
What is the asking price?
The asking price for this property is $280,000.
What are key features of this property?
This property features: Classic American Foursquare duplex with all‑brick construction, built in 1920; 2 units with approx. 1,500 SF each and a reported rental history of $3,200/mo; Radiant heat with natural gas plus a wood‑burning fireplace, and hot water (heating) listed
