Brick-Front Duplex with Oversized
New
For Sale
$240,000
2410 Asheville Drive, Springfield, IL 62711
Quiet cul-de-sac setting with updated exterior elements and flexible interior space.
Property Size1,612 SF
Price / SF$148.88
Days on Market3
Property Features for 2410 Asheville Drive
General Information
Standard status
Active
Size
1,612 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$4,031
Building Details
Year Built
2008
Listing Agency:
The Real Estate Group, Inc
Listed By:
Joshua Kruse ([email protected])
Source:
Curveyrealestate
Added: Aug 6
Changed: Aug 7
Last Checked: Aug 8 at 5:57AM
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 The Real Estate Group, Inc
Investment Insights
Based on property information with market context.
This duplex, built in 2008, provides 1,612 square feet with two bedrooms and two bathrooms. The interior includes a vaulted living room with a gas fireplace, a naturally lit kitchen and dining area, and an adjoining flex room suited to office, family, reading, or hobby use. The primary bedroom includes a walk-in closet, linen storage, and an ensuite with a walk-in shower.
Exterior features include a full brick front, an oversized two-car garage with a workbench and built-in shelving, and a refrigerator that conveys. The property sits at the end of a low-traffic cul-de-sac with open views and no rear neighbors. The roof was replaced in 2025, the siding was replaced in 2026, and the property was pre-inspected and repaired.
Exterior features include a full brick front, an oversized two-car garage with a workbench and built-in shelving, and a refrigerator that conveys. The property sits at the end of a low-traffic cul-de-sac with open views and no rear neighbors. The roof was replaced in 2025, the siding was replaced in 2026, and the property was pre-inspected and repaired.
Key Highlights
- 1,612‑square‑foot duplex built in 2008
- Roof replaced in 2025 and siding replaced in 2026
- Oversized two‑car garage with workbench and built‑in storage shelves
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
$15,024
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
6.26%
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%
$300,480
$300.5K
Cap Rate 7%
$214,629
$214.6K
Cap Rate 9%
$166,933
$166.9K
Market Conditions
NOI Build-Up for 1,612 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
$22.2K $13.80/SF
− Vacancy
−$783 −$0.49/SF
EGI
$21.5K $13.31/SF
− OpEx
−$6.4K −$3.99/SF
NOI
$15.0K $9.32/SF
Area
Springfield, IL
Vacancy
3.52%
Lease Rate
$13.80 /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%
$300,480
Cap Rate 7%
$214,629
Cap Rate 9%
$166,933
Alternative Uses
Best Use
Multifamily LT 5
$214.6K
$187.8K – $250.4K
NOI $15,024 @ 7.0% cap · market cap 6.26%
Second Best
Apartment 5plus
$187.3K
$163.9K – $218.6K
NOI $13,114 @ 7.0% cap · market cap 5.46%
Theoretical Best
Office A
$395.8K
$346.3K – $461.7K
NOI $27,704 @ 7.0% cap · market cap 11.54%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
33
Businesses Nearby
Explore this area
Business Placement
Demographics for 62711, IL
18,115
Population
7,885
Households
2.3
Avg Household Size
49
Median Age
57%
College-Educated
98%
High-School Grad
30.9 sq mi
ZIP Area
586
Density / Sq Mi
$123,507
Median Household Income
$65,758
Median Earnings
$1,272
Median Rent
$299,400
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 - Quiet cul-de-sac setting with updated exterior elements and flexible interior space.
Where is this duplex located?
The property is located at 2410 Asheville Drive Springfield, IL.
What is the asking price?
The asking price for this property is $240,000.
What are key features of this property?
This property features: 1,612‑square‑foot duplex built in 2008; Roof replaced in 2025 and siding replaced in 2026; Oversized two‑car garage with workbench and built‑in storage shelves
