Two-Unit Duplex with
For Sale
$98,500
3208 Batson Dr, Alton, IL 62002
Leased duplex with appliances, basement laundry, and a detached garage.
Property Size1,072 SF
Price / SF$91.88
Days on Market9
Property Features for 3208 Batson Dr
General Information
Standard status
Active
Size
1,072 SF
Total Parking Spaces
2
Property subtype
Multi-Family
Units
Unit Mix
2 x 1BR
Multifamily Units
2
Additional Details
Road Access
Yes
Building Details
Year Built
1944
Tenancy
Multi
Listing Agency:
Landmark Realty
(618) 560-8201
Listed By:
Matt Horn · License #2023007773
Source:
Nations-network
Added: Aug 22
Changed: Aug 29
Last Checked: Aug 25 at 5:14AM
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
Investment Insights
Based on property information with market context.
Located at 3208 Batson Dr in Alton, IL, this 1,072-square-foot duplex contains two one-bedroom units. Each residence includes its kitchen appliances, while the basement provides a washer and dryer. A detached two-car garage serves the property.
Both units are occupied under full one-year leases, providing established rental occupancy at closing. The duplex sits on a quiet dead-end street near the dental school, adding a nearby institutional destination to the property’s setting.
Both units are occupied under full one-year leases, providing established rental occupancy at closing. The duplex sits on a quiet dead-end street near the dental school, adding a nearby institutional destination to the property’s setting.
Key Highlights
- Two one‑bedroom units within a 1,072‑square‑foot duplex
- Both units have full one‑year leases in place
- Detached two‑car garage
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
$7,897
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
8.02%
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%
$157,940
$157.9K
Cap Rate 7%
$112,814
$112.8K
Cap Rate 9%
$87,744
$87.7K
Market Conditions
NOI Build-Up for 1,072 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
$12.2K $11.40/SF
− Vacancy
−$940 −$0.88/SF
EGI
$11.3K $10.52/SF
− OpEx
−$3.4K −$3.16/SF
NOI
$7.9K $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 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%
$157,940
Cap Rate 7%
$112,814
Cap Rate 9%
$87,744
Alternative Uses
Best Use
Multifamily LT 5
$112.8K
$98.7K – $131.6K
NOI $7,897 @ 7.0% cap · market cap 8.02%
Second Best
Apartment 5plus
$105.9K
$92.7K – $123.5K
NOI $7,412 @ 7.0% cap · market cap 7.52%
Theoretical Best
Office A
$292.2K
$255.7K – $340.9K
NOI $20,454 @ 7.0% cap · market cap 20.77%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
587
Businesses Nearby
Explore this area
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
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 - Leased duplex with appliances, basement laundry, and a detached garage.
Where is this duplex located?
The property is located at 3208 Batson Dr Alton, IL.
What is the asking price?
The asking price for this property is $98,500.
What are key features of this property?
This property features: Two one‑bedroom units within a 1,072‑square‑foot duplex; Both units have full one‑year leases in place; Detached two‑car garage
