Duplex with
New
For Sale
$165,000
2402 College Avenue, Belleville, IL 62221
Two separate living units include an existing tenant arrangement and a carport.
Property Size1,920 SF
Price / SF$85.94
Days on Market4
Property Features for 2402 College Avenue
General Information
Standard status
Active
Size
1,920 SF
Property subtype
Residential Income
Additional Details
Multifamily Units
2
Tenant in Place
Yes
Taxes and HOA fees
Annual Taxes
$3,125
Amenities
carport
deck
Listing Agency:
Keller Williams Marquee
(618) 307-5616
Listed By:
Jasmine Spraggins · License #RASI
(618) 560-8774
Source:
Exprealty
Added: Oct 26
Changed: Oct 28
Last Checked: Oct 28 at 3:21PM
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 Keller Williams Marquee
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Investment Insights
Based on property information with market context.
At 2402 College Avenue in Belleville, this 1,920-square-foot duplex contains two separate units and a carport. One unit is currently occupied by a tenant, while the other is available for an owner-occupant or rental use.
Improvements include a furnace and air conditioning system installed in one unit in 2023, replacement of both water heaters in 2024, and rebuilt decks for both units in 2022.
Improvements include a furnace and air conditioning system installed in one unit in 2023, replacement of both water heaters in 2024, and rebuilt decks for both units in 2022.
Key Highlights
- Two‑unit duplex totaling 1,920 square feet
- Carport serves the property
- One unit is tenant‑occupied
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$14,264
Cap Rate
8.64%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$285,280
$285.3K
Cap Rate 7%
$203,771
$203.8K
Cap Rate 9%
$158,489
$158.5K
Market Conditions
NOI Build-Up for 1,920 SF
Gross rent
$27.6K $14.40/SF
− Vacancy
−$1.7K −$0.89/SF
EGI
$25.9K $13.51/SF
− OpEx
−$11.7K −$6.08/SF
NOI
$14.3K $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 Rate 5%
$285,280
Cap Rate 7%
$203,771
Cap Rate 9%
$158,489
Alternative Uses
Best Use
Multifamily LT 5
$226.2K
$197.9K – $263.9K
NOI $15,834 @ 7.0% cap · market cap 9.60%
Second Best
Apartment 5plus
$203.8K
$178.3K – $237.7K
NOI $14,264 @ 7.0% cap · market cap 8.64%
Theoretical Best
Office A
$454.5K
$397.7K – $530.3K
NOI $31,817 @ 7.0% cap · market cap 19.28%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
316
Businesses Nearby
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Business Placement
Demographics for 62221, IL
29,039
Population
12,460
Households
2.3
Avg Household Size
38
Median Age
37%
College-Educated
96%
High-School Grad
35.0 sq mi
ZIP Area
830
Density / Sq Mi
$78,619
Median Household Income
$45,353
Median Earnings
$1,078
Median Rent
$207,200
Median Home Value
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Duplex - Two separate living units include an existing tenant arrangement and a carport.
Where is this duplex located?
The property is located at 2402 College Avenue Belleville, IL.
What is the asking price?
The asking price for this property is $165,000.
What are key features of this property?
This property features: Two‑unit duplex totaling 1,920 square feet; Carport serves the property; One unit is tenant‑occupied
