2-Unit Duplex with Walkout Lower
2569 Madison Avenue, Granite City, IL 62040
For Sale
New
$265,000
Residential Income, Granite City, IL
Property Size2,944 SF
Lot Size0.11 Acres
Price / SF$90.01
Days on Market5
Property Features for 2569 Madison Avenue
General Information
Property type
Property subtype
Bedrooms
Bathrooms
Full bathrooms
Rooms
Patio and Porch features
Interior features
Basement
Appliances
Subdivision
Lot features
Elementary school
Middle school
High school
Elementary school district
Middle school district
High school district
Directions
Standard status
APN
Size
Lot size
Taxes and HOA fees
Tax Year
Tax Annual Amount
Utilities
Utilities
Heating system
Cooling system
Water source
Building Details
Year built
Floors in Building
Number of units
Flooring type
Building materials
Roof type
Architectural style
Buildings
Listing Agency:
Coldwell Banker Brown Realtors · Coldwell Banker Real Estate
(618) 667-3404
Listed By:
Angela Judd Uram · License #475154689
(618) 917-0508
Added: Nov 5
Changed: Nov 6
Last Checked: Nov 9 at 7:06AM
MLS# 26070653
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 2,944-square-foot duplex contains two residences: one with three bedrooms and one with two. The building has three levels above grade plus a walkout lower level, providing four levels in total. Built in 1920, it includes a porch, patio, and deck, with central air conditioning and natural gas heating.
Key Highlights
- 2,944‑square‑foot duplex with two separate residences
- Unit mix includes one 3‑bedroom residence and one 2‑bedroom residence
- Three above‑grade levels plus a walkout lower level
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$21,686
Cap Rate
8.18%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$433,720
$433.7K
Cap Rate 7%
$309,800
$309.8K
Cap Rate 9%
$240,956
$241.0K
Market Conditions
NOI Build-Up for 2,944 SF
Gross rent
$33.6K $11.40/SF
− Vacancy
−$2.6K −$0.88/SF
EGI
$31.0K $10.52/SF
− OpEx
−$9.3K −$3.16/SF
NOI
$21.7K $7.37/SF
Area
Madison County, IL
Vacancy
7.69%
Lease Rate
$11.40 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$433,720
Cap Rate 7%
$309,800
Cap Rate 9%
$240,956
Alternative Uses
Best Use
Multifamily LT 5
$309.8K
$271.1K – $361.4K
NOI $21,686 @ 7.0% cap · market cap 8.18%
Second Best
Apartment 5plus
$290.8K
$254.5K – $339.3K
NOI $20,356 @ 7.0% cap · market cap 7.68%
Theoretical Best
Office A
$802.5K
$702.2K – $936.2K
NOI $56,172 @ 7.0% cap · market cap 21.20%
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
416
Businesses Nearby
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Business Placement
Demographics for 62040, IL
40,872
Population
18,842
Households
2.2
Avg Household Size
41
Median Age
16%
College-Educated
89%
High-School Grad
39.9 sq mi
ZIP Area
1,024
Density / Sq Mi
$60,558
Median Household Income
$40,963
Median Earnings
$852
Median Rent
$106,600
Median Home Value
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Market
Average Price Trend$/SF for Duplexes in Madison County, IL
Properties on Market for Duplexes in Madison County
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Duplex - The two residences offer separate three-bedroom and two-bedroom layouts across four levels.
Where is this duplex located?
The property is located at 2569 Madison Avenue Granite City, IL.
What is the asking price?
The asking price for this property is $265,000.
What are key features of this property?
This property features: 2,944‑square‑foot duplex with two separate residences; Unit mix includes one 3‑bedroom residence and one 2‑bedroom residence; Three above‑grade levels plus a walkout lower level
