3-Unit
For Sale
$220,000
3203 Mayfield Avenue, Alton, IL 62002
All three residences have tenants in place.
Property Size2,472 SF
Days on Market11
Property Features for 3203 Mayfield Avenue
General Information
Standard status
Active
Size
2,472 SF
Property subtype
Residential Income
Additional Details
Multifamily Units
3
Tenant in Place
Yes
Taxes and HOA fees
Annual Taxes
$3,375
Building Details
Building Size
2,472 SF
Year Built
1951
Units
3
Listing Agency:
Market Pro Realty, Inc
(618) 251-9121
Listed By:
Casey Bennington
(618) 670-1399
Source:
Flowershomerealty
Added: Oct 15
Changed: Oct 23
Last Checked: Oct 23 at 3:46PM
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 Market Pro Realty, Inc
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This triplex contains three residential units, each occupied by a tenant. The property was built in 1951.
Key Highlights
- Three residential units, all occupied
- Built in 1951
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$18,210
Cap Rate
8.28%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$364,200
$364.2K
Cap Rate 7%
$260,143
$260.1K
Cap Rate 9%
$202,333
$202.3K
Market Conditions
NOI Build-Up for 2,472 SF
Gross rent
$28.2K $11.40/SF
− Vacancy
−$2.2K −$0.88/SF
EGI
$26.0K $10.52/SF
− OpEx
−$7.8K −$3.16/SF
NOI
$18.2K $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%
$364,200
Cap Rate 7%
$260,143
Cap Rate 9%
$202,333
Alternative Uses
Best Use
Multifamily LT 5
$260.1K
$227.6K – $303.5K
NOI $18,210 @ 7.0% cap · market cap 8.28%
Second Best
Apartment 5plus
$244.2K
$213.7K – $284.9K
NOI $17,093 @ 7.0% cap · market cap 7.77%
Theoretical Best
Office A
$673.8K
$589.6K – $786.1K
NOI $47,166 @ 7.0% cap · market cap 21.44%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
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Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
546
Businesses Nearby
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Business Placement
Demographics for 62002, IL
30,176
Population
14,832
Households
2
Avg Household Size
41
Median Age
24%
College-Educated
92%
High-School Grad
41.3 sq mi
ZIP Area
731
Density / Sq Mi
$57,851
Median Household Income
$38,120
Median Earnings
$941
Median Rent
$114,300
Median Home Value
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Triplex - All three residences have tenants in place.
Where is this triplex located?
The property is located at 3203 Mayfield Avenue Alton, IL.
What is the asking price?
The asking price for this property is $220,000.
What are key features of this property?
This property features: Three residential units, all occupied; Built in 1951
