Brick Ranch
For Sale
$184,900
Pending
170 Liberty Drive, Belleville, IL 62226
Two-unit residential income property with one occupied unit and a second unit scheduled to pass occupancy before closing.
Property Size2,216 SF
Days on Market27
Property Features for 170 Liberty Drive
General Information
Standard status
Pending
Size
2,216 SF
Property subtype
Residential Income
Units
Unit Mix
2 x 3BR/1BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$3,743
Building Details
Building Size
2,216 SF
Year Built
1969
Buildings
1
Stories
1
Units
2
Construction
ranch style brick
Listing Agency:
Johnston Realty, Inc.
(618) 779-4124
Listed By:
Gary Johnston · License #471004014
Source:
Powerhausrealty
Added: Aug 4
Changed: Aug 28
Last Checked: Aug 28 at 9:31AM
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 Johnston Realty, Inc.
Investment Insights
Based on property information with market context.
This ranch-style brick duplex was built in 1969 and contains two residential units. Each unit offers three bedrooms and one bathroom, providing a consistent layout across the property. One unit is occupied, while the other is vacant and is scheduled to pass occupancy before closing.
The property is located at 170 Liberty Drive in Belleville, Illinois. Its duplex configuration supports separate residential living spaces within a single building and includes an existing tenant arrangement on one side.
The property is located at 170 Liberty Drive in Belleville, Illinois. Its duplex configuration supports separate residential living spaces within a single building and includes an existing tenant arrangement on one side.
Key Highlights
- Ranch‑style brick duplex built in 1969
- Two units, each with 3 bedrooms and 1 bathroom
- One unit is currently occupied
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
$16,463
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
8.90%
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%
$329,260
$329.3K
Cap Rate 7%
$235,186
$235.2K
Cap Rate 9%
$182,922
$182.9K
Market Conditions
NOI Build-Up for 2,216 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
$31.9K $14.40/SF
− Vacancy
−$2.0K −$0.89/SF
EGI
$29.9K $13.51/SF
− OpEx
−$13.5K −$6.08/SF
NOI
$16.5K $7.43/SF
Area
St. Clair County, IL
Vacancy
6.20%
Lease Rate
$14.40 /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%
$329,260
Cap Rate 7%
$235,186
Cap Rate 9%
$182,922
Alternative Uses
Best Use
Multifamily LT 5
$261.1K
$228.4K – $304.6K
NOI $18,275 @ 7.0% cap · market cap 9.88%
Second Best
Apartment 5plus
$235.2K
$205.8K – $274.4K
NOI $16,463 @ 7.0% cap · market cap 8.90%
Theoretical Best
Office A
$524.6K
$459.0K – $612.0K
NOI $36,722 @ 7.0% cap · market cap 19.86%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
693
Businesses Nearby
Explore this area
Business Placement
Demographics for 62226, IL
29,156
Population
13,285
Households
2.2
Avg Household Size
42
Median Age
33%
College-Educated
94%
High-School Grad
13.9 sq mi
ZIP Area
2,098
Density / Sq Mi
$66,018
Median Household Income
$43,284
Median Earnings
$946
Median Rent
$162,500
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 residential income property with one occupied unit and a second unit scheduled to pass occupancy before closing.
Where is this duplex located?
The property is located at 170 Liberty Drive Belleville, IL.
What is the asking price?
The asking price for this property is $184,900.
What are key features of this property?
This property features: Ranch‑style brick duplex built in 1969; Two units, each with 3 bedrooms and 1 bathroom; One unit is currently occupied
