Spacious Duplex with Community
For Sale
$291,000
1848 Spinnaker Street Pingree, Hampshire, IL 60140
Three-bedroom duplex with pool, clubhouse, and gym access.
Property Size1,847 SF
Days on Market361
Property Features for 1848 Spinnaker Street Pingree
General Information
Standard status
Active
Size
1,847 SF
Property subtype
Condominium
Amenities
Central Air
Natural Gas
Forced Air
Range
Microwave
Dishwasher
Refrigerator
Washer
Dryer
Asphalt
Building Details
Building Size
1,847 SF
Year Built
2009
Listing Agency:
Berkshire Hathaway HomeServices Starck Real Estate
Listed By:
Jessica Pluda
Source:
Kw
Added: Aug 25, 2025
Changed: Aug 14
Last Checked: Aug 18 at 10:22PM
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 Berkshire Hathaway HomeServices Starck Real Estate
Investment Insights
Based on property information with market context.
This duplex offers approximately 2,000 sq ft of living space and features an open-concept kitchen. The property includes access to a pool, clubhouse, and gym. It also has a large fenced yard. The water heater and washer are approximately 2 years old, while the stove and refrigerator are approximately 5 years old. The property is being sold as is.
Key Highlights
- Priced significantly below market value.
- Spacious 3‑bedroom duplex with nearly 2,000 sq ft of living space.
- Enjoy access to the community pool, clubhouse, and gym.
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
$23,966
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
8.24%
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%
$479,320
$479.3K
Cap Rate 7%
$342,371
$342.4K
Cap Rate 9%
$266,289
$266.3K
Market Conditions
NOI Build-Up for 1,847 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
$37.0K $20.04/SF
− Vacancy
−$2.8K −$1.50/SF
EGI
$34.2K $18.54/SF
− OpEx
−$10.3K −$5.56/SF
NOI
$24.0K $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%
$479,320
Cap Rate 7%
$342,371
Cap Rate 9%
$266,289
Alternative Uses
Best Use
Multifamily LT 5
$342.4K
$299.6K – $399.4K
NOI $23,966 @ 7.0% cap · market cap 8.24%
Second Best
Apartment 5plus
$306.1K
$267.8K – $357.1K
NOI $21,427 @ 7.0% cap · market cap 7.36%
Theoretical Best
Office A
$637.7K
$558.0K – $744.0K
NOI $44,638 @ 7.0% cap · market cap 15.34%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
135
Businesses Nearby
Explore this area
Business Placement
Demographics for 60140, IL
21,902
Population
7,325
Households
3
Avg Household Size
37
Median Age
38%
College-Educated
93%
High-School Grad
81.0 sq mi
ZIP Area
270
Density / Sq Mi
$114,675
Median Household Income
$58,111
Median Earnings
$1,379
Median Rent
$316,900
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Three-bedroom duplex with pool, clubhouse, and gym access.
Where is this duplex located?
The property is located at 1848 Spinnaker Street Pingree Hampshire, IL.
What is the asking price?
The asking price for this property is $291,000.
What are key features of this property?
This property features: Priced significantly below market value.; Spacious 3‑bedroom duplex with nearly 2,000 sq ft of living space.; Enjoy access to the community pool, clubhouse, and gym.
