Single-Level
501 Longfellow St, Bethalto, IL 62010
For Sale
$250,000
Pending
Two-bedroom apartments include separate carports and sheds, with one residence leased and the other available for showings.
Property Size1,440 SF
Days on Market13
Property Features for 501 Longfellow St
General Information
Standard status
Size
Total Parking Spaces
Property subtype
Additional Details
Multifamily Units
Amenities
shed
Building Details
Year Built
Stories
Listing Agency:
RE/MAX Results
Listed By:
Strait Realty
(314) 441-4444
Source:
Straitrealty
Added: Oct 28
Changed: Nov 8
Last Checked: Nov 8 at 5:59AM
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 RE/MAX Results
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Investment Insights
Based on property information with market context.
This 1,440-square-foot duplex, built in 1980, contains two one-level residences of approximately 720 square feet each. Both have two bedrooms, a full bathroom, a living room connected to the kitchen, a carport, and a shed. Kitchen appliances and a washer and dryer are included in each unit. The roof was replaced in 2025; water heaters date to 2025 and 2026, and the furnaces to 2019 and 2010. Both air-conditioning systems are approximately 16 years old.
One residence is occupied under a one-year lease, while the other is vacant for showings. Bethalto Park is directly across the street, with lighted tennis and pickleball courts, a playground, and the Bethalto Senior Services Center, which offers daily social gatherings, fitness classes, educational workshops, and communal meals.
One residence is occupied under a one-year lease, while the other is vacant for showings. Bethalto Park is directly across the street, with lighted tennis and pickleball courts, a playground, and the Bethalto Senior Services Center, which offers daily social gatherings, fitness classes, educational workshops, and communal meals.
Key Highlights
- Two 720‑square‑foot residences; 1,440 square feet total
- Each unit has 2 bedrooms, a full bathroom, carport, shed, living room, and kitchen
- Roof replaced in 2025; water heaters from 2025 and 2026
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$10,608
Cap Rate
4.24%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$212,160
$212.2K
Cap Rate 7%
$151,543
$151.5K
Cap Rate 9%
$117,867
$117.9K
Market Conditions
NOI Build-Up for 1,440 SF
Gross rent
$16.4K $11.40/SF
− Vacancy
−$1.3K −$0.88/SF
EGI
$15.2K $10.52/SF
− OpEx
−$4.5K −$3.16/SF
NOI
$10.6K $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 Rate 5%
$212,160
Cap Rate 7%
$151,543
Cap Rate 9%
$117,867
Alternative Uses
Best Use
Multifamily LT 5
$151.5K
$132.6K – $176.8K
NOI $10,608 @ 7.0% cap · market cap 4.24%
Second Best
Apartment 5plus
$142.2K
$124.5K – $166.0K
NOI $9,957 @ 7.0% cap · market cap 3.98%
Theoretical Best
Office A
$392.5K
$343.4K – $457.9K
NOI $27,475 @ 7.0% cap · market cap 10.99%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
118
Businesses Nearby
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Business Placement
Demographics for 62010, IL
10,847
Population
5,163
Households
2.1
Avg Household Size
41
Median Age
30%
College-Educated
93%
High-School Grad
21.2 sq mi
ZIP Area
512
Density / Sq Mi
$72,717
Median Household Income
$46,689
Median Earnings
$896
Median Rent
$170,000
Median Home Value
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Market
Average Price Trend$/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 - Two-bedroom apartments include separate carports and sheds, with one residence leased and the other available for showings.
Where is this duplex located?
The property is located at 501 Longfellow St Bethalto, IL.
What is the asking price?
The asking price for this property is $250,000.
What are key features of this property?
This property features: Two 720‑square‑foot residences; 1,440 square feet total; Each unit has 2 bedrooms, a full bathroom, carport, shed, living room, and kitchen; Roof replaced in 2025; water heaters from 2025 and 2026
