Modern 3-Bed Duplex
For Sale
$370,000
3418 Telford Drive, Springfield, IL 62711
Modern 2019-built duplex with three bedrooms, three full baths, and a finished basement plus fenced backyard.
Property Size2,717 SF
Price / SF$136.18
Days on Market45
Property Features for 3418 Telford Drive
General Information
Standard status
Active
Size
2,717 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$8,446
Building Details
Year Built
2019
Listing Agency:
Hurwitz Enterprises
Listed By:
Mary Hurwitz (mhurwitz@blackstonehurwitz.com)
Source:
Curveyrealestate
Added: Jul 20
Changed: Aug 28
Last Checked: Sep 1 at 7:23PM
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 Hurwitz Enterprises
Investment Insights
Based on property information with market context.
This well-maintained duplex offers modern, move-in-ready living with three bedrooms and three full bathrooms. Built in 2019 and owned by a single owner, the home features an open layout and updates designed for everyday comfort and entertaining. A finished basement completed in 2020 adds additional living space, including a large family room, a generously sized bedroom, ample storage, and a flex room that could serve as a home office, playroom, or workout area.
Located at 3418 Telford Drive in Springfield, the property sits on a quiet cul-de-sac. Outdoor space includes a large fenced-in backyard with room for gatherings; the fence was added in 2022 and stained in 2023.
With approximately 2,700 square feet of living space (believed to be accurate but not warranted), this duplex provides a practical layout and flexible lower-level space.
Located at 3418 Telford Drive in Springfield, the property sits on a quiet cul-de-sac. Outdoor space includes a large fenced-in backyard with room for gatherings; the fence was added in 2022 and stained in 2023.
With approximately 2,700 square feet of living space (believed to be accurate but not warranted), this duplex provides a practical layout and flexible lower-level space.
Key Highlights
- Built in 2019, this 3‑bedroom, 3‑full‑bath duplex is in a quiet cul‑de‑sac in Kreston Place.
- Finished basement completed in 2020 offers a large family room, additional bedroom, flex room, and ample storage.
- Large fenced‑in backyard with outdoor entertaining space; fence added in 2022 and stained in 2023.
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
$25,322
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
6.84%
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%
$506,440
$506.4K
Cap Rate 7%
$361,743
$361.7K
Cap Rate 9%
$281,356
$281.4K
Market Conditions
NOI Build-Up for 2,717 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
$37.5K $13.80/SF
− Vacancy
−$1.3K −$0.49/SF
EGI
$36.2K $13.31/SF
− OpEx
−$10.9K −$3.99/SF
NOI
$25.3K $9.32/SF
Area
Springfield, IL
Vacancy
3.52%
Lease Rate
$13.80 /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%
$506,440
Cap Rate 7%
$361,743
Cap Rate 9%
$281,356
Alternative Uses
Best Use
Multifamily LT 5
$361.7K
$316.5K – $422.0K
NOI $25,322 @ 7.0% cap · market cap 6.84%
Second Best
Apartment 5plus
$315.8K
$276.3K – $368.4K
NOI $22,104 @ 7.0% cap · market cap 5.97%
Theoretical Best
Office A
$667.1K
$583.7K – $778.3K
NOI $46,695 @ 7.0% cap · market cap 12.62%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
322
Businesses Nearby
Explore this area
Business Placement
Demographics for 62711, IL
18,115
Population
7,885
Households
2.3
Avg Household Size
49
Median Age
57%
College-Educated
98%
High-School Grad
30.9 sq mi
ZIP Area
586
Density / Sq Mi
$123,507
Median Household Income
$65,758
Median Earnings
$1,272
Median Rent
$299,400
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 - Modern 2019-built duplex with three bedrooms, three full baths, and a finished basement plus fenced backyard.
Where is this duplex located?
The property is located at 3418 Telford Drive Springfield, IL.
What is the asking price?
The asking price for this property is $370,000.
What are key features of this property?
This property features: Built in 2019, this 3‑bedroom, 3‑full‑bath duplex is in a quiet cul‑de‑sac in Kreston Place.; Finished basement completed in 2020 offers a large family room, additional bedroom, flex room, and ample storage.; Large fenced‑in backyard with outdoor entertaining space; fence added in 2022 and stained in 2023.
