Townhouse-Style
New
For Sale
$245,000
16-18 Carol Dr, Collinsville, IL 62234
Fully occupied duplex with basement storage, off-street parking, and separate utility responsibility.
Property Size2,560 SF
Price / SF$95.70
Days on Market1
Property Features for 16-18 Carol Dr
General Information
Standard status
Active
Size
2,560 SF
Property subtype
Multi-Family
Occupancy
100%
Units
Unit Mix
2 x 3BR
Multifamily Units
2
Additional Details
Average Monthly Rent
$1,000
Utilities to Site
Yes
Amenities
washer/dryer hookups
Building Details
Year Built
1970
Listing Agency:
Realty Executives Premiere
Listed By:
Strait Realty
(314) 441-4444
Source:
Straitrealty
Added: Sep 13
Last Checked: Sep 13 at 2:53PM
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 Realty Executives Premiere
Investment Insights
Based on property information with market context.
Built in 1970, this 2,560-square-foot duplex contains two townhouse-style units, each arranged with three bedrooms and a full basement. The property is fully occupied and includes off-street parking for residents.
Both units convey with a range and refrigerator. Basement areas provide washer and dryer hookups, while residents are responsible for their own utilities. The property is located at 16-18 Carol Dr in Collinsville, Illinois.
Both units convey with a range and refrigerator. Basement areas provide washer and dryer hookups, while residents are responsible for their own utilities. The property is located at 16-18 Carol Dr in Collinsville, Illinois.
Key Highlights
- Two 3‑bedroom townhouse‑style units
- 2,560 square feet built in 1970
- Full basement in each unit with washer and dryer hookups
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
$18,858
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
7.70%
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%
$377,160
$377.2K
Cap Rate 7%
$269,400
$269.4K
Cap Rate 9%
$209,533
$209.5K
Market Conditions
NOI Build-Up for 2,560 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
$29.2K $11.40/SF
− Vacancy
−$2.2K −$0.88/SF
EGI
$26.9K $10.52/SF
− OpEx
−$8.1K −$3.16/SF
NOI
$18.9K $7.37/SF
Area
Madison County, IL
Vacancy
7.69%
Lease Rate
$11.40 /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%
$377,160
Cap Rate 7%
$269,400
Cap Rate 9%
$209,533
Alternative Uses
Best Use
Multifamily LT 5
$269.4K
$235.7K – $314.3K
NOI $18,858 @ 7.0% cap · market cap 7.70%
Second Best
Apartment 5plus
$252.9K
$221.3K – $295.0K
NOI $17,701 @ 7.0% cap · market cap 7.22%
Theoretical Best
Office A
$697.8K
$610.6K – $814.1K
NOI $48,845 @ 7.0% cap · market cap 19.94%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
100%
Occupancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
238
Businesses Nearby
Explore this area
Business Placement
Demographics for 62234, IL
31,843
Population
14,947
Households
2.1
Avg Household Size
40
Median Age
27%
College-Educated
92%
High-School Grad
37.3 sq mi
ZIP Area
854
Density / Sq Mi
$66,437
Median Household Income
$41,710
Median Earnings
$995
Median Rent
$162,000
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 - Fully occupied duplex with basement storage, off-street parking, and separate utility responsibility.
Where is this duplex located?
The property is located at 16-18 Carol Dr Collinsville, IL.
What is the asking price?
The asking price for this property is $245,000.
What are key features of this property?
This property features: Two 3‑bedroom townhouse‑style units; 2,560 square feet built in 1970; Full basement in each unit with washer and dryer hookups
