Duplex with
New
For Sale
$165,000
2402 College Avenue, Belleville, IL 62221
Residential Income, Belleville, IL
Property Size1,920 SF
Lot Size0.41 Acres
Price / SF$85.94
Days on Market4
Property Features for 2402 College Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Bedroom 4, Bedroom 3, Bathroom 2, Bedroom 2, Bedroom 1
Fireplace
1
Subdivision
Weatherstone 1st Add
Elementary school
BELLE VALLEY DIST 119
Middle school
BELLE VALLEY DIST 119
High school
Belleville High School-East
Elementary school district
Belle Valley DIST 119
Middle school district
Belle Valley DIST 119
High school district
Belle Valley DIST 119
Standard status
Active
APN
08-24.0-400-009
Size
1,920 SF
Lot size
0.41 Acres
Additional Details
Tenant in Place
Yes
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
3125
Utilities
Cooling system
Central Air
Building Details
Year built
1981
Building materials
Brick
Listing Agency:
Keller Williams Marquee · Keller Williams Realty
(618) 307-5616
Listed By:
Jasmine Spraggins
(618) 560-8774
Added: Oct 26
Changed: Oct 27
Last Checked: Oct 29 at 8:06AM
MLS# 26068395
Copyright © 2026 Mid America Regional Information Systems, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
This 1981 brick duplex contains two separate units with a combined 1,920 square feet of living area. The property includes a carport, central air conditioning, a fireplace, and a 0.41-acre lot. One unit is currently tenant-occupied; the second may be occupied by an owner or rented separately.
Recent work includes replacement of both water heaters in 2024 and reconstruction of both decks in 2022. One unit received a new furnace and air conditioning system in 2023.
Recent work includes replacement of both water heaters in 2024 and reconstruction of both decks in 2022. One unit received a new furnace and air conditioning system in 2023.
Key Highlights
- Two‑unit duplex with 1,920 square feet of living area
- 0.41‑acre lot with a carport
- One unit currently has a tenant
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 - One unit is tenant-occupied, and the other can be used by an owner or rented separately.
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 with 1,920 square feet of living area; 0.41‑acre lot with a carport; One unit currently has a tenant
