Two-Unit Ranch
3230 Kilarney Drive, Granite City, IL 62040
For Sale
New
$168,500
Residential Income, Granite City, IL
Property Size1,800 SF
Lot Size0.15 Acres
Price / SF$93.61
Days on Market7
Property Features for 3230 Kilarney Drive
General Information
Property type
Property subtype
Bedrooms
Bathrooms
Full bathrooms
Rooms
Parking features
Appliances
Subdivision
Elementary school
Middle school
High school
Elementary school district
Middle school district
High school district
Standard status
APN
Size
Lot size
Additional Details
Tenant in Place
Taxes and HOA fees
Tax Year
Tax Description
Tax Annual Amount
Legal Description
Utilities
Heating system
Cooling system
Water source
Amenities
laundry hookups
garage
Building Details
Year built
Floors in Building
Building materials
Architectural style
Listing Agency:
Real Broker LLC
(630) 423-5891
Listed By:
Christopher Kelly · License #475.178639
(314) 445-7436
Added: Nov 3
Changed: Nov 4
Last Checked: Nov 9 at 6:06AM
MLS# 26069086
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 1,800-square-foot ranch duplex on a 0.15-acre parcel contains two residences, each with two bedrooms, one bathroom, laundry hookups, and its own garage. Unit B has been renovated and is vacant. Unit A is occupied under a month-to-month lease. The 1967 building has brick veneer construction, forced-air natural gas heat, and electric central air conditioning.
Key Highlights
- Two units, each with 2 bedrooms and 1 bathroom
- Separate garage and laundry hookups for each residence
- Unit B renovated and vacant
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$13,259
Cap Rate
7.87%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$265,180
$265.2K
Cap Rate 7%
$189,414
$189.4K
Cap Rate 9%
$147,322
$147.3K
Market Conditions
NOI Build-Up for 1,800 SF
Gross rent
$20.5K $11.40/SF
− Vacancy
−$1.6K −$0.88/SF
EGI
$18.9K $10.52/SF
− OpEx
−$5.7K −$3.16/SF
NOI
$13.3K $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%
$265,180
Cap Rate 7%
$189,414
Cap Rate 9%
$147,322
Alternative Uses
Best Use
Multifamily LT 5
$189.4K
$165.7K – $221.0K
NOI $13,259 @ 7.0% cap · market cap 7.87%
Second Best
Apartment 5plus
$177.8K
$155.6K – $207.4K
NOI $12,446 @ 7.0% cap · market cap 7.39%
Theoretical Best
Office A
$490.6K
$429.3K – $572.4K
NOI $34,344 @ 7.0% cap · market cap 20.38%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
126
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 - Both residences include laundry hookups and a private garage, with one unit renovated and vacant and the other occupied.
Where is this duplex located?
The property is located at 3230 Kilarney Drive Granite City, IL.
What is the asking price?
The asking price for this property is $168,500.
What are key features of this property?
This property features: Two units, each with 2 bedrooms and 1 bathroom; Separate garage and laundry hookups for each residence; Unit B renovated and vacant
