Duplex with Recent
331 Pine St, Joliet, IL 60435
For Sale
New
$359,000
Residential Income, Joliet, IL
Property Size2,000 SF
Lot Size0.16 Acres
Price / SF$179.50
Days on Market1
Property Features for 331 Pine St
General Information
Property type
Property subtype
Bedrooms
Bathrooms
Full bathrooms
Rooms
Parking features
Subdivision
Standard status
Size
Lot size
Additional Details
Tenant in Place
Individually Metered Utilities
Taxes and HOA fees
Tax Year
Tax Annual Amount
Utilities
Heating system
Water source
Building Details
Year built
Floors in Building
Flooring type
Building materials
Roof type
Architectural style
Buildings
Listing Agency:
eXp Commercial
Listed By:
Randolph Taylor · License IL #475142701
(630) 474-6441
Added: Nov 13
Last Checked: Nov 13 at 11:06PM
MLS# 12067783
Copyright © 2026 My State MLS. 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 2,000-square-foot duplex in Joliet contains two residential apartments, each configured with two bedrooms and one bathroom. The property was built in 1900 and occupies a 0.16-acre lot. Recent capital work includes a roof replacement in 2024 and a water heater replacement in 2025. The building has driveway parking, with spaces available on a first-come basis.
Both apartments are leased. Gas and electricity are separately metered, and tenants pay those utility costs. Tenant arrangements also include water expense sharing, lawn care, and snow removal.
Both apartments are leased. Gas and electricity are separately metered, and tenants pay those utility costs. Tenant arrangements also include water expense sharing, lawn care, and snow removal.
Key Highlights
- Two leased apartments, each with 2 bedrooms and 1 bathroom
- 2,000 square feet on a 0.16‑acre lot
- Roof replaced in 2024; one water heater replaced in 2025
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$21,281
Cap Rate
5.93%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$425,620
$425.6K
Cap Rate 7%
$304,014
$304.0K
Cap Rate 9%
$236,456
$236.5K
Market Conditions
NOI Build-Up for 2,000 SF
Gross rent
$32.4K $16.20/SF
− Vacancy
−$2.0K −$1.00/SF
EGI
$30.4K $15.20/SF
− OpEx
−$9.1K −$4.56/SF
NOI
$21.3K $10.64/SF
Area
Joliet, IL
Vacancy
6.17%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$425,620
Cap Rate 7%
$304,014
Cap Rate 9%
$236,456
Alternative Uses
Best Use
Multifamily LT 5
$304.0K
$266.0K – $354.7K
NOI $21,281 @ 7.0% cap · market cap 5.93%
Second Best
Apartment 5plus
$280.3K
$245.3K – $327.1K
NOI $19,624 @ 7.0% cap · market cap 5.47%
Theoretical Best
Office A
$589.7K
$516.0K – $688.0K
NOI $41,280 @ 7.0% cap · market cap 11.50%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,257
Businesses Nearby
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Business Placement
Demographics for 60435, IL
48,927
Population
20,162
Households
2.4
Avg Household Size
37
Median Age
23%
College-Educated
85%
High-School Grad
10.8 sq mi
ZIP Area
4,530
Density / Sq Mi
$74,967
Median Household Income
$41,201
Median Earnings
$1,145
Median Rent
$217,200
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Properties on Market for Duplexes in Joliet
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Duplex - Both apartments are leased and have separate gas and electric meters.
Where is this duplex located?
The property is located at 331 Pine St Joliet, IL.
What is the asking price?
The asking price for this property is $359,000.
What are key features of this property?
This property features: Two leased apartments, each with 2 bedrooms and 1 bathroom; 2,000 square feet on a 0.16‑acre lot; Roof replaced in 2024; one water heater replaced in 2025
