Triplex With Duplex
New
For Sale
$189,900
222 S Jackson Street, Belleville, IL 62220
Three residential units include two duplex apartments and a rear ranch-style home.
Property Size1,979 SF
Days on Market5
Property Features for 222 S Jackson Street
General Information
Standard status
Active
Size
1,979 SF
Property subtype
Residential Income
Occupancy
100%
Taxes and HOA fees
Annual Taxes
$6,062
Building Details
Building Size
1,979 SF
Year Built
1951
Buildings
2
Units
3
Tenancy
Multi
Abandoned
No
Listing Agency:
Re/Max Signature Properties
(618) 973-2576
Listed By:
Lacey Dore · License #475128953
(618) 973-2576
Source:
Exit2newbeginningz
Added: Aug 2
Changed: Aug 3
Last Checked: Aug 6 at 12:22PM
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 Re/Max Signature Properties
Investment Insights
Based on property information with market context.
This 1951-built triplex comprises a two-unit residence and a separate rear ranch-style home. Each duplex apartment offers 2 bedrooms and 1 full bath, with living, dining, and kitchen areas on the main level and both bedrooms upstairs. One apartment also includes a bonus room near the living area. The duplex provides a shared unfinished basement, a covered front porch, and separate rear decks for each unit.
The third residence is a 2-bedroom, 1-bath ranch home with a full basement. That lower level includes a 2-car garage and a storage area. All three units are currently rented. Property access requires 24-48 hours of notice, and tenant rights apply.
The third residence is a 2-bedroom, 1-bath ranch home with a full basement. That lower level includes a 2-car garage and a storage area. All three units are currently rented. Property access requires 24-48 hours of notice, and tenant rights apply.
Key Highlights
- Three‑unit property with two duplex apartments and one detached ranch‑style residence
- Built in 1951 with two 2‑bedroom, 1‑bath duplex units
- Rear ranch home includes 2 bedrooms, 1 bath, and a full basement
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
$16,320
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
8.59%
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%
$326,400
$326.4K
Cap Rate 7%
$233,143
$233.1K
Cap Rate 9%
$181,333
$181.3K
Market Conditions
NOI Build-Up for 1,979 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
$24.9K $12.60/SF
− Vacancy
−$1.6K −$0.82/SF
EGI
$23.3K $11.78/SF
− OpEx
−$7.0K −$3.53/SF
NOI
$16.3K $8.25/SF
Area
St. Clair County, IL
Vacancy
6.50%
Lease Rate
$12.60 /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%
$326,400
Cap Rate 7%
$233,143
Cap Rate 9%
$181,333
Alternative Uses
Best Use
Multifamily LT 5
$233.1K
$204.0K – $272.0K
NOI $16,320 @ 7.0% cap · market cap 8.59%
Second Best
Apartment 5plus
$210.0K
$183.8K – $245.0K
NOI $14,702 @ 7.0% cap · market cap 7.74%
Theoretical Best
Office A
$468.5K
$409.9K – $546.6K
NOI $32,795 @ 7.0% cap · market cap 17.27%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,376
Businesses Nearby
Explore this area
Business Placement
Demographics for 62220, IL
19,474
Population
8,784
Households
2.2
Avg Household Size
39
Median Age
28%
College-Educated
93%
High-School Grad
28.9 sq mi
ZIP Area
674
Density / Sq Mi
$65,261
Median Household Income
$37,105
Median Earnings
$976
Median Rent
$141,300
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?
Triplex - Three residential units include two duplex apartments and a rear ranch-style home.
Where is this triplex located?
The property is located at 222 S Jackson Street Belleville, IL.
What is the asking price?
The asking price for this property is $189,900.
What are key features of this property?
This property features: Three‑unit property with two duplex apartments and one detached ranch‑style residence; Built in 1951 with two 2‑bedroom, 1‑bath duplex units; Rear ranch home includes 2 bedrooms, 1 bath, and a full basement
