Residential Income Property with
510 Stearn Drive Unit 510, Genoa, IL 60135
For Sale
$499,900
The 2-bedroom, 2-bath residence includes a private office, unfinished basement and tandem three-car garage.
Property Size1,860 SF
Price / SF$268.76
Days on Market70
Property Features for 510 Stearn Drive Unit 510
General Information
Standard status
Size
Total Parking Spaces
Property subtype
Units
Unit Mix
Multifamily Units
Taxes and HOA fees
Annual Taxes
Amenities
clubhouse
pickleball courts indoor and outdoor
party room with kitchenette
fireside patio
exercise room
billiard room
Building Details
Building Size
Year Built
Listing Agency:
O'Neil Property Group, LLC
(815) 762-6652
Listed By:
Brian Grainger · License #475202066
(815) 761-0028
Source:
Purveyproperties
Added: Sep 1
Changed: Nov 8
Last Checked: Nov 8 at 8:53PM
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 O'Neil Property Group, LLC
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Investment Insights
Based on property information with market context.
Built in 2025, this 1,860-square-foot residence has two bedrooms, two full bathrooms and a separate office. The main living area has an open layout, with LVP flooring and farmhouse-style trim. The kitchen is fitted with white custom cabinetry and black hardware. In the primary suite, the bathroom includes a double vanity and a walk-in ceramic tile shower, alongside a walk-in closet.
An unfinished basement adds storage space and has roughed-in plumbing. The property also includes a tandem three-car garage. The home is part of Riverbend, a 55+ community with a clubhouse featuring indoor and outdoor pickleball courts, a party room with kitchenette, fireside patio, exercise room and billiard room. The community is surrounded by approximately 350 acres of public open space and has a lifestyle director who organizes activities.
An unfinished basement adds storage space and has roughed-in plumbing. The property also includes a tandem three-car garage. The home is part of Riverbend, a 55+ community with a clubhouse featuring indoor and outdoor pickleball courts, a party room with kitchenette, fireside patio, exercise room and billiard room. The community is surrounded by approximately 350 acres of public open space and has a lifestyle director who organizes activities.
Key Highlights
- 1,860‑square‑foot residence built in 2025
- Two bedrooms, two full bathrooms and a separate office
- Unfinished basement with roughed‑in plumbing
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$21,578
Cap Rate
4.32%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$431,560
$431.6K
Cap Rate 7%
$308,257
$308.3K
Cap Rate 9%
$239,756
$239.8K
Market Conditions
NOI Build-Up for 1,860 SF
Gross rent
$42.2K $22.68/SF
− Vacancy
−$3.0K −$1.59/SF
EGI
$39.2K $21.09/SF
− OpEx
−$17.7K −$9.49/SF
NOI
$21.6K $11.60/SF
Area
DeKalb County, IL
Vacancy
7.00%
Lease Rate
$22.68 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$431,560
Cap Rate 7%
$308,257
Cap Rate 9%
$239,756
Alternative Uses
Best Use
Apartment 5plus
$308.3K
$269.7K – $359.6K
NOI $21,578 @ 7.0% cap · market cap 4.32%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$507.2K
$443.8K – $591.7K
NOI $35,503 @ 7.0% cap · market cap 7.10%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
61
Businesses Nearby
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Business Placement
Demographics for 60135, IL
7,292
Population
2,923
Households
2.5
Avg Household Size
39
Median Age
15%
College-Educated
88%
High-School Grad
46.8 sq mi
ZIP Area
156
Density / Sq Mi
$87,935
Median Household Income
$47,101
Median Earnings
$1,038
Median Rent
$238,000
Median Home Value
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Market
Average Price Trend$/SF for Residential income properties in DeKalb County, IL
Properties on Market for Residential income properties in DeKalb County
Frequently Asked Questions
What type of property is this?
Residential income property - The 2-bedroom, 2-bath residence includes a private office, unfinished basement and tandem three-car garage.
Where is this residential income property located?
The property is located at 510 Stearn Drive Unit 510 Genoa, IL.
What is the asking price?
The asking price for this property is $499,900.
What are key features of this property?
This property features: 1,860‑square‑foot residence built in 2025; Two bedrooms, two full bathrooms and a separate office; Unfinished basement with roughed‑in plumbing
