Duplex with Updated Mechanical
For Sale
$309,500
2515 Eldorado Lane, Naperville, IL 60564
Recent HVAC replacements and interior updates support the property's residential income use.
Property Size934 SF
Days on Market8
Property Features for 2515 Eldorado Lane
General Information
Standard status
Active
Size
934 SF
Property subtype
1/2 Duplex
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$5,144
Building Details
Building Size
934 SF
Year Built
1996
Buildings
1
Listing Agency:
Sell Smart Realty Group Inc.
Listed By:
Adam Smolen · License #475142433
(773) 775-0600
Source:
Loncarrealty
Added: Sep 25
Changed: Oct 2
Last Checked: Oct 1 at 5:56PM
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 Sell Smart Realty Group Inc.
Investment Insights
Based on property information with market context.
This Woodlake duplex in Naperville was built in 1996. Its furnace and central air conditioning were replaced in 2025, and the kitchen appliances were replaced within the past two years. Luxury vinyl plank flooring runs throughout the home, with fresh interior paint and updated bathroom toilets also noted.
The property is in School District 204, four blocks from Neuqua Valley High School and one block from Welch Elementary School. Shopping, dining, parks, and commuter routes are nearby.
The property is in School District 204, four blocks from Neuqua Valley High School and one block from Welch Elementary School. Shopping, dining, parks, and commuter routes are nearby.
Key Highlights
- Duplex in Naperville's Woodlake community
- Furnace and central AC replaced in 2025
- Kitchen appliances replaced within the last 2 years
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
$9,038
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
2.92%
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%
$180,760
$180.8K
Cap Rate 7%
$129,114
$129.1K
Cap Rate 9%
$100,422
$100.4K
Market Conditions
NOI Build-Up for 934 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
$17.3K $18.48/SF
− Vacancy
−$828 −$0.89/SF
EGI
$16.4K $17.59/SF
− OpEx
−$7.4K −$7.92/SF
NOI
$9.0K $9.68/SF
Area
Naperville, IL
Vacancy
4.80%
Lease Rate
$18.48 /SF/Yr
Expense Ratio
45.00%
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%
$180,760
Cap Rate 7%
$129,114
Cap Rate 9%
$100,422
Alternative Uses
Best Use
Apartment 5plus
$129.1K
$113.0K – $150.6K
NOI $9,038 @ 7.0% cap · market cap 2.92%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$210.8K
$184.5K – $246.0K
NOI $14,758 @ 7.0% cap · market cap 4.77%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
956
Businesses Nearby
Explore this area
Business Placement
Demographics for 60564, IL
45,616
Population
16,166
Households
2.8
Avg Household Size
40
Median Age
73%
College-Educated
98%
High-School Grad
16.0 sq mi
ZIP Area
2,851
Density / Sq Mi
$176,250
Median Household Income
$89,203
Median Earnings
$2,172
Median Rent
$550,400
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - Recent HVAC replacements and interior updates support the property's residential income use.
Where is this residential income property located?
The property is located at 2515 Eldorado Lane Naperville, IL.
What is the asking price?
The asking price for this property is $309,500.
What are key features of this property?
This property features: Duplex in Naperville's Woodlake community; Furnace and central AC replaced in 2025; Kitchen appliances replaced within the last 2 years
