Duplex with Refreshed
For Sale
$325,000
302 E Central Street, Bethalto, IL 62010
One residence is tenant-occupied, while the other has been updated and is ready for its next use.
Property Size2,352 SF
Price / SF$138.18
Days on Market26
Property Features for 302 E Central Street
General Information
Standard status
Active
Size
2,352 SF
Property subtype
Residential Income
Units
Unit Mix
2 x 3BR/2.5BA
Multifamily Units
2
Additional Details
Tenant in Place
Yes
Taxes and HOA fees
Annual Taxes
$7,453
Amenities
porches
off-street parking
Building Details
Building Size
2,352 SF
Year Built
2010
Buildings
1
Listing Agency:
Landmark Realty
(618) 466-1513
Listed By:
Ginny Becker · License #475128555
(618) 560-9397
Source:
Finehomesbydawn
Added: Oct 5
Changed: Oct 25
Last Checked: Oct 26 at 3:50AM
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 Landmark Realty
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Investment Insights
Based on property information with market context.
Built in 2010, this 2,352-square-foot duplex contains two residences, each with three bedrooms and 2½ bathrooms. One unit is occupied by a tenant. The other has fresh paint, new carpet, and stainless-steel appliances. The occupied unit has a new dishwasher and garbage disposal.
Front and rear porches serve the property, with off-street parking located behind the building.
Front and rear porches serve the property, with off-street parking located behind the building.
Key Highlights
- 2,352‑square‑foot duplex built in 2010
- Two units, each with 3 bedrooms and 2½ bathrooms
- One unit is tenant‑occupied; the other is vacant
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$17,326
Cap Rate
5.33%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$346,520
$346.5K
Cap Rate 7%
$247,514
$247.5K
Cap Rate 9%
$192,511
$192.5K
Market Conditions
NOI Build-Up for 2,352 SF
Gross rent
$26.8K $11.40/SF
− Vacancy
−$2.1K −$0.88/SF
EGI
$24.8K $10.52/SF
− OpEx
−$7.4K −$3.16/SF
NOI
$17.3K $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%
$346,520
Cap Rate 7%
$247,514
Cap Rate 9%
$192,511
Alternative Uses
Best Use
Multifamily LT 5
$247.5K
$216.6K – $288.8K
NOI $17,326 @ 7.0% cap · market cap 5.33%
Second Best
Apartment 5plus
$232.3K
$203.3K – $271.1K
NOI $16,263 @ 7.0% cap · market cap 5.00%
Theoretical Best
Office A
$641.1K
$561.0K – $747.9K
NOI $44,876 @ 7.0% cap · market cap 13.81%
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
239
Businesses Nearby
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Business Placement
Demographics for 62010, IL
10,847
Population
5,163
Households
2.1
Avg Household Size
41
Median Age
30%
College-Educated
93%
High-School Grad
21.2 sq mi
ZIP Area
512
Density / Sq Mi
$72,717
Median Household Income
$46,689
Median Earnings
$896
Median Rent
$170,000
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 residence is tenant-occupied, while the other has been updated and is ready for its next use.
Where is this duplex located?
The property is located at 302 E Central Street Bethalto, IL.
What is the asking price?
The asking price for this property is $325,000.
What are key features of this property?
This property features: 2,352‑square‑foot duplex built in 2010; Two units, each with 3 bedrooms and 2½ bathrooms; One unit is tenant‑occupied; the other is vacant
