Duplex with Attached Oversized
For Sale
Under Contract
$375,000
35 A&B Fox Meadow Lane, Glen Carbon, IL 62034
MULTI_FAMILY - Ranch - Glen Carbon, IL
Property Size2,393 SF
Lot Size0.29 Acres
Price / SF$156.71
Days on Market12
Property Features for 35 A&B Fox Meadow Lane
General Information
Property type
Residential Multi Family
Property subtype
Single Family Residence
Bedrooms
6
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 4, Bedroom 1, Basement, Bedroom 5, Bedroom 2, Bedroom 6, Bathroom 2, Bathroom 1, Bathroom 4, Bathroom 3, Bedroom 3
Parking
6
Parking features
Driveway, Open, Garage, Oversize, On Street
Window features
Shutters
Patio and Porch features
Patio, Porch
Interior features
Ceiling Fan(s), Eat-in Kitchen, High Speed Internet, Open Floorplan
Exterior features
Private Entrance, Rain Gutters, Storage
Basement
Storage Space, Full, Partially Finished, Sump Pump, Concrete, Interior Entry
Appliances
Dishwasher, Disposal, Dryer, Microwave, Electric Range, Refrigerator, Washer, Water Heater
Subdivision
Kettle River 5
Lot features
Back Yard, Front Yard, Landscaped, Rectangular Lot
Elementary school
EDWARDSVILLE DIST 7
Middle school
EDWARDSVILLE DIST 7
High school
Edwardsville
Elementary school district
Edwardsville DIST 7
Middle school district
Edwardsville DIST 7
High school district
Edwardsville DIST 7
Directions
State Route 159 to Junction Drive to Cougar Drive to Fox Meadow Lane
Standard status
Active Under Contract
APN
14-2-15-23-03-302-044
Size
2,393 SF
Lot size
0.29 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
KETTLE RIVER 5 LT 35
Tax Annual Amount
6769
Legal Description
KETTLE RIVER 5 LT 35
Utilities
Heating system
Natural Gas, Forced Air
Cooling system
Zoned, Central Air, Electric, Ceiling Fan(s)
Water source
Public
Building Details
Year built
1980
Floors in Building
1
Number of units
2
Building materials
Vinyl Siding
Roof type
Shingle
Architectural style
Ranch
Additional Structures
Storage
Listing Agency:
RE/MAX Alliance · RE/MAX International
(618) 288-7100
Listed By:
Diane Malench
(618) 975-6043
Added: Aug 1
Changed: Aug 5
Last Checked: Aug 12 at 11:06AM
MLS# 26037710
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.
Investment Insights
Based on property information with market context.
Ranch-style duplex built in 1980 with vinyl siding and a shingle roof. The property sits on a 0.29-acre lot and totals 2,393 square feet. Each unit offers three bedrooms and two bathrooms, with a main level bedroom and bath layout plus a lower level bedroom with egress and a 3/4 bath (shower). Both units include an eat-in kitchen and an open floorplan, private entrance, covered front porch, and covered rear patio. The lower level also includes unfinished storage space with laundry hook ups, breaker box, HVAC, hot water heater, and sump pump and ejector pump.
Outside, each unit has an attached, front-facing oversized garage with a door opener and an access door to the back yard, along with a concrete driveway. Storage is also included via a shed in the back yard. Utilities are separate for each unit, including gas/electric, water/sewer/trash, and internet (billed to owners and invoiced to tenants).
Lease details: Unit A was set to expire 7/31/26 and tenant has moved out; sellers are leaving Unit A vacant. Unit B includes three individual tenants through 7/31/26, with two renewing to 7/31/27 and one not renewing. All leases have July 31 renewal dates. The property was previously two separate parcels with separate parcel ID numbers and county taxes, and has since been combined into one parcel with one tax bill.
Outside, each unit has an attached, front-facing oversized garage with a door opener and an access door to the back yard, along with a concrete driveway. Storage is also included via a shed in the back yard. Utilities are separate for each unit, including gas/electric, water/sewer/trash, and internet (billed to owners and invoiced to tenants).
Lease details: Unit A was set to expire 7/31/26 and tenant has moved out; sellers are leaving Unit A vacant. Unit B includes three individual tenants through 7/31/26, with two renewing to 7/31/27 and one not renewing. All leases have July 31 renewal dates. The property was previously two separate parcels with separate parcel ID numbers and county taxes, and has since been combined into one parcel with one tax bill.
Key Highlights
- 0.29‑acre duplex totaling 2,393 SF built in 1980
- Each unit: three bedrooms and two bathrooms with lower level egress bedroom
- Attached front‑facing oversized garage per unit with 10.5 x 23 garage dimensions
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
$17,628
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
4.70%
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%
$352,560
$352.6K
Cap Rate 7%
$251,829
$251.8K
Cap Rate 9%
$195,867
$195.9K
Market Conditions
NOI Build-Up for 2,393 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
$27.3K $11.40/SF
− Vacancy
−$2.1K −$0.88/SF
EGI
$25.2K $10.52/SF
− OpEx
−$7.6K −$3.16/SF
NOI
$17.6K $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%
$352,560
Cap Rate 7%
$251,829
Cap Rate 9%
$195,867
Alternative Uses
Best Use
Multifamily LT 5
$251.8K
$220.4K – $293.8K
NOI $17,628 @ 7.0% cap · market cap 4.70%
Second Best
Apartment 5plus
$236.4K
$206.8K – $275.8K
NOI $16,547 @ 7.0% cap · market cap 4.41%
Theoretical Best
Office A
$652.3K
$570.7K – $761.0K
NOI $45,658 @ 7.0% cap · market cap 12.18%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
94
Businesses Nearby
Explore this area
Business Placement
Demographics for 62034, IL
14,665
Population
6,197
Households
2.4
Avg Household Size
39
Median Age
49%
College-Educated
97%
High-School Grad
13.7 sq mi
ZIP Area
1,070
Density / Sq Mi
$93,366
Median Household Income
$53,030
Median Earnings
$1,100
Median Rent
$274,300
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 - Duplex ranch with separate utilities, a covered front porch, and an attached oversized front-facing garage for each unit.
Where is this duplex located?
The property is located at 35 A&B Fox Meadow Lane Glen Carbon, IL.
What is the asking price?
The asking price for this property is $375,000.
What are key features of this property?
This property features: 0.29‑acre duplex totaling 2,393 SF built in 1980; Each unit: three bedrooms and two bathrooms with lower level egress bedroom; Attached front‑facing oversized garage per unit with 10.5 x 23 garage dimensions
