Updated Residential Income
New
For Sale
$464,900
1523 Orchard Circle, Naperville, IL 60565
Second-floor ranch layout with remodeled kitchen, two bedrooms, and an unfinished basement.
Property Size1,768 SF
Days on Market4
Property Features for 1523 Orchard Circle
General Information
Standard status
Active
Size
1,768 SF
Property subtype
Condo,Townhouse-Ranch
Additional Details
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$6,098
Building Details
Building Size
1,768 SF
Year Built
1995
Listing Agency:
@properties Christies International Real Estate
Listed By:
Holly Mateer · License #475185038
(630) 373-7710
Source:
Loncarrealty
Added: Sep 29
Changed: Oct 1
Last Checked: Oct 1 at 1:59PM
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 @properties Christies International Real Estate
Investment Insights
Based on property information with market context.
This second-floor ranch-style residence has two bedrooms, an opened-up kitchen, and an unfinished basement with a drywalled ceiling. The kitchen includes white cabinetry, quartz counters, an oversized island, and stainless steel Bosch appliances. Luxury vinyl plank flooring runs throughout, and the living room has an electric fireplace installed in 2025. Both bathrooms have been updated, and the primary suite includes two closets.
Mechanical and efficiency updates include a furnace installed in 2025 with a whole-house air purification system, an A/C replacement in 2024, and increased attic insulation in 2026. The windows date to 2013. Exterior maintenance is covered by the HOA.
Mechanical and efficiency updates include a furnace installed in 2025 with a whole-house air purification system, an A/C replacement in 2024, and increased attic insulation in 2026. The windows date to 2013. Exterior maintenance is covered by the HOA.
Key Highlights
- Two‑bedroom, second‑floor ranch‑style residence
- Remodeled kitchen with quartz counters, oversized island, and Bosch appliances
- Unfinished basement with drywalled ceiling
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
$17,107
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
3.68%
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%
$342,140
$342.1K
Cap Rate 7%
$244,386
$244.4K
Cap Rate 9%
$190,078
$190.1K
Market Conditions
NOI Build-Up for 1,768 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
$32.7K $18.48/SF
− Vacancy
−$1.6K −$0.89/SF
EGI
$31.1K $17.59/SF
− OpEx
−$14.0K −$7.92/SF
NOI
$17.1K $9.68/SF
Area
Naperville, IL
Vacancy
4.80%
Lease Rate
$18.48 /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%
$342,140
Cap Rate 7%
$244,386
Cap Rate 9%
$190,078
Alternative Uses
Best Use
Apartment 5plus
$244.4K
$213.8K – $285.1K
NOI $17,107 @ 7.0% cap · market cap 3.68%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$399.1K
$349.2K – $465.6K
NOI $27,936 @ 7.0% cap · market cap 6.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
696
Businesses Nearby
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Business Placement
Demographics for 60565, IL
40,300
Population
14,369
Households
2.8
Avg Household Size
42
Median Age
71%
College-Educated
97%
High-School Grad
12.9 sq mi
ZIP Area
3,124
Density / Sq Mi
$160,238
Median Household Income
$75,452
Median Earnings
$1,764
Median Rent
$490,100
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - Second-floor ranch layout with remodeled kitchen, two bedrooms, and an unfinished basement.
Where is this residential income property located?
The property is located at 1523 Orchard Circle Naperville, IL.
What is the asking price?
The asking price for this property is $464,900.
What are key features of this property?
This property features: Two‑bedroom, second‑floor ranch‑style residence; Remodeled kitchen with quartz counters, oversized island, and Bosch appliances; Unfinished basement with drywalled ceiling
