Remodeled Duplex
For Sale
$265,000
1629-1631 VERMONT Street, Quincy, IL 62301
MULTI_FAMILY - Quincy, IL
Property Size4,400 SF
Price / SF$60.23
Days on Market54
Property Features for 1629-1631 VERMONT Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
7
Bathrooms
4
Full bathrooms
3
Half bathrooms
1
Rooms
Bedroom 1, Bedroom 4, Bathroom 3, Bedroom 3, Bathroom 4, Bedroom 2, Bathroom 1, Bedroom 6, Bedroom 5, Bedroom 7, Bathroom 2
Parking
2
Basement
Partial, Unfinished, Crawl Space
Lot features
Level
High school
Quincy School District #172
Directions
Vermont Street between 16th and 17th Streets
Standard status
Active
APN
23-1-1298-000-00
Taxes and HOA fees
Tax Year
2025
Tax Description
LOT 11 NEVIS SURVEY E 10FT OF S 1/2 LOT 10 & W 53FT OF S 1/2 LOT 11
Tax Annual Amount
3982
Legal Description
LOT 11 NEVIS SURVEY E 10FT OF S 1/2 LOT 10 & W 53FT OF S 1/2 LOT 11
Utilities
Heating system
Forced Air, Natural Gas
Cooling system
Central Air
Water source
Public
Building Details
Year built
1892
Number of units
2
Building materials
Aluminum Siding, Vinyl Siding
Roof type
Shingle
Listing Agency:
Happel, Inc., REALTORS
(217) 224-8383
Listed By:
Jan Smith
(309) 331-3994
Added: Jun 7
Changed: Jul 23
Last Checked: Jul 30 at 6:06PM
MLS# CA1044313
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 duplex includes two separate units, each freshly remodeled within the last 2–4 years. Both units offer approximately 2,200 square feet of living space and feature granite and quartz countertops in the kitchens and baths. A large shared, fenced-in yard provides outdoor space for occupants.
The exterior has seen recent updates, including replaced driveways, brick sidewalk, and a front porch. The 1629 unit is under a 1-year lease agreement at $1,850 per month, and the 1631 unit is under a 1-year lease agreement at $1,700 per month.
The exterior has seen recent updates, including replaced driveways, brick sidewalk, and a front porch. The 1629 unit is under a 1-year lease agreement at $1,850 per month, and the 1631 unit is under a 1-year lease agreement at $1,700 per month.
Key Highlights
- Duplex built in 1892 with central air and forced‑air natural gas heating
- Freshly remodeled units (last 2–4 years); each unit has approximately 2,200 SF of living space
- Kitchen and bath finishes include granite and quartz countertops
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 | $46.5k | $10.56 |
| − Vacancy | −$2.8k | −$0.63 |
| EGI | $43.7k | $9.93 |
| − OpEx | −$19.7k | −$4.47 |
| NOI | $24.0k | $5.46 |
4,400 SF · lease $10.56/SF/yr · vacancy 6.00% · expense 45.00%
Alternative Uses
Best Use
Multifamily LT 5
$370.3K
$324.0K – $432.0K
NOI $25,918 @ 7.0% cap · market cap 9.78%
Second Best
Apartment 5plus
$343.2K
$300.3K – $400.4K
NOI $24,022 @ 7.0% cap · market cap 9.06%
Theoretical Best
Healthcare Medical
$879.0K
$769.1K – $1.03M
NOI $61,527 @ 7.0% cap · market cap 23.22%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Turnkey business
Opportunity
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
666
Businesses Nearby
Explore this area
Business Placement
Demographics for 62301, IL
31,481
Population
15,295
Households
2.1
Avg Household Size
39
Median Age
24%
College-Educated
91%
High-School Grad
11.2 sq mi
ZIP Area
2,811
Density / Sq Mi
$52,212
Median Household Income
$36,665
Median Earnings
$805
Median Rent
$124,200
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 freshly remodeled units with a shared fenced yard and recently replaced exterior improvements, currently under 1-year leases.
Where is this duplex located?
The property is located at 1629-1631 VERMONT Street Quincy, IL.
What is the asking price?
The asking price for this property is $265,000.
What are key features of this property?
This property features: Duplex built in 1892 with central air and forced‑air natural gas heating; Freshly remodeled units (last 2–4 years); each unit has approximately 2,200 SF of living space; Kitchen and bath finishes include granite and quartz countertops
