Duplex with Waterfront
For Sale
$325,000
Pending
151 Beach Court, South Elgin, IL 60177
Two-unit duplex on an oversized lot with water frontage, including an attached 2-car garage for Unit 1.
Property Size1,500 SF
Days on Market85
Property Features for 151 Beach Court
General Information
Standard status
Pending
Size
1,500 SF
Total Parking Spaces
2
Property subtype
Two to Four Units / 2 Flat
Zoning
MULTI
Net Operating Income
$30,975
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$4,673
Building Details
Tenancy
Multi
Listing Agency:
Stoll Real Estate
Listed By:
Andrew Stoll · License #471018925
(847) 214-1619
Source:
Compass
Added: Jun 14
Changed: Aug 8
Last Checked: Jul 24 at 1:22PM
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 Stoll Real Estate
Investment Insights
Based on property information with market context.
This two-unit duplex offers value-add potential on an oversized lot backing directly to the water. Unit 1 features a 2-bedroom, 1-bath layout with an attached 2-car garage, a smart thermostat, LVP flooring, and an updated kitchen with 42-inch cabinets, tile backsplash, quartz countertops, and modern appliances. Unit 2 includes updated finishes with 42-inch cabinets, quartz countertops, and appliances, with waterfront views from the unit.
The property is currently occupied and may be delivered either with the current tenants kept or vacant at closing, depending on buyer preference. The sale also includes a small vacant lot to the left of the property. The duplex is sold as-is and needs some work, including the driveway, front walk, and some interior floor/ceiling TLC.
The property is currently occupied and may be delivered either with the current tenants kept or vacant at closing, depending on buyer preference. The sale also includes a small vacant lot to the left of the property. The duplex is sold as-is and needs some work, including the driveway, front walk, and some interior floor/ceiling TLC.
Key Highlights
- 2‑unit duplex in South Elgin’s Fox River Beach subdivision on an oversized lot with direct water frontage
- Unit 1: 2 bed, 1 bath with an attached 2‑car garage, smart thermostat, and LVP flooring
- Unit 1 updated kitchen with 42" cabinets, tile backsplash, quartz countertops, and modern appliances
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
$19,464
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
5.99%
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%
$389,280
$389.3K
Cap Rate 7%
$278,057
$278.1K
Cap Rate 9%
$216,267
$216.3K
Market Conditions
NOI Build-Up for 1,500 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
$30.1K $20.04/SF
− Vacancy
−$2.3K −$1.50/SF
EGI
$27.8K $18.54/SF
− OpEx
−$8.3K −$5.56/SF
NOI
$19.5K $12.98/SF
Area
Kane 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%
$389,280
Cap Rate 7%
$278,057
Cap Rate 9%
$216,267
Alternative Uses
Best Use
Multifamily LT 5
$278.1K
$243.3K – $324.4K
NOI $19,464 @ 7.0% cap · market cap 5.99%
Second Best
Apartment 5plus
$248.6K
$217.5K – $290.0K
NOI $17,401 @ 7.0% cap · market cap 5.35%
Theoretical Best
Office A
$517.9K
$453.2K – $604.2K
NOI $36,252 @ 7.0% cap · market cap 11.15%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
584
Businesses Nearby
Explore this area
Business Placement
Demographics for 60177, IL
24,361
Population
8,700
Households
2.8
Avg Household Size
37
Median Age
38%
College-Educated
91%
High-School Grad
8.9 sq mi
ZIP Area
2,737
Density / Sq Mi
$123,700
Median Household Income
$59,266
Median Earnings
$1,612
Median Rent
$296,200
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 duplex on an oversized lot with water frontage, including an attached 2-car garage for Unit 1.
Where is this duplex located?
The property is located at 151 Beach Court South Elgin, IL.
What is the asking price?
The asking price for this property is $325,000.
What are key features of this property?
This property features: 2‑unit duplex in South Elgin’s Fox River Beach subdivision on an oversized lot with direct water frontage; Unit 1: 2 bed, 1 bath with an attached 2‑car garage, smart thermostat, and LVP flooring; Unit 1 updated kitchen with 42" cabinets, tile backsplash, quartz countertops, and modern appliances
