Two-Unit
For Sale
$215,000
6 Kings Court, Swansea, IL 62226
One residence is leased while the second is available, and both units include two bedrooms and two bathrooms.
Property Size1,800 SF
Days on Market38
Property Features for 6 Kings Court
General Information
Standard status
Active
Size
1,800 SF
Property subtype
Residential Income
Units
Unit Mix
2 x 2BR/2BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$3,762
Building Details
Building Size
1,800 SF
Year Built
1960
Buildings
1
Stories
2
Units
2
Listing Agency:
Berkshire Hathaway HomeServices Select Properties
(636) 946-7880
Listed By:
Nikki Lindewirth
Source:
Powerhausrealty
Added: Jul 23
Changed: Aug 29
Last Checked: Aug 29 at 10:30AM
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 Berkshire Hathaway HomeServices Select Properties
Investment Insights
Based on property information with market context.
This duplex contains two residential units, each configured with two bedrooms and two bathrooms. One unit is currently rented, while the other is vacant, creating a mixed occupancy profile for a new owner. The property was built in 1960 and is located at 6 Kings Court in Swansea, Illinois.
Both residences provide living space, bedrooms, and bathroom accommodations within the same two-unit property. The existing rental occupancy supplies current tenant use in one unit, while the vacant unit offers separate availability within the building.
Both residences provide living space, bedrooms, and bathroom accommodations within the same two-unit property. The existing rental occupancy supplies current tenant use in one unit, while the vacant unit offers separate availability within the building.
Key Highlights
- Two‑unit duplex with one rented residence and one vacant residence
- Each unit includes 2 bedrooms and 2 bathrooms
- Built in 1960
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
$14,844
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
6.90%
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%
$296,880
$296.9K
Cap Rate 7%
$212,057
$212.1K
Cap Rate 9%
$164,933
$164.9K
Market Conditions
NOI Build-Up for 1,800 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
$22.7K $12.60/SF
− Vacancy
−$1.5K −$0.82/SF
EGI
$21.2K $11.78/SF
− OpEx
−$6.4K −$3.53/SF
NOI
$14.8K $8.25/SF
Area
St. Clair County, IL
Vacancy
6.50%
Lease Rate
$12.60 /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%
$296,880
Cap Rate 7%
$212,057
Cap Rate 9%
$164,933
Alternative Uses
Best Use
Multifamily LT 5
$212.1K
$185.6K – $247.4K
NOI $14,844 @ 7.0% cap · market cap 6.90%
Second Best
Apartment 5plus
$191.0K
$167.2K – $222.9K
NOI $13,372 @ 7.0% cap · market cap 6.22%
Theoretical Best
Office A
$426.1K
$372.9K – $497.2K
NOI $29,829 @ 7.0% cap · market cap 13.87%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
131
Businesses Nearby
Explore this area
Business Placement
Demographics for 62226, IL
29,156
Population
13,285
Households
2.2
Avg Household Size
42
Median Age
33%
College-Educated
94%
High-School Grad
13.9 sq mi
ZIP Area
2,098
Density / Sq Mi
$66,018
Median Household Income
$43,284
Median Earnings
$946
Median Rent
$162,500
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 - One residence is leased while the second is available, and both units include two bedrooms and two bathrooms.
Where is this duplex located?
The property is located at 6 Kings Court Swansea, IL.
What is the asking price?
The asking price for this property is $215,000.
What are key features of this property?
This property features: Two‑unit duplex with one rented residence and one vacant residence; Each unit includes 2 bedrooms and 2 bathrooms; Built in 1960
