Brick Duplex with Private
For Sale
$243,000
609 E C St, Belleville, IL 62220
Two updated three-bedroom units include hardwood floors, separate laundry hookups, and generous interior space.
Property Size1,410 SF
Price / SF$172.34
Days on Market17
Property Features for 609 E C St
General Information
Standard status
Active
Size
1,410 SF
Property subtype
Multi-Family
Financials
Asking Price
$243,000
Gross Income
$33,000
Units
Unit Mix
2 x 3BR/1BA
Multifamily Units
2
Building Details
Year Built
1877
Buildings
1
Construction
brick
Listing Agency:
Equity Missouri LLC
Listed By:
Strait Realty
(314) 441-4444
Source:
Straitrealty
Added: Sep 9
Changed: Sep 24
Last Checked: Sep 24 at 9:43AM
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 Equity Missouri LLC
Investment Insights
Based on property information with market context.
Built in 1877, this 1,410-square-foot brick duplex contains two three-bedroom, one-bath residences. Both units offer sizable rooms, hardwood floors, built-in shelving, and strong natural light, with recent interior improvements including new paint and refreshed kitchen countertops. Each residence has a private basement with its own laundry hookups, adding storage and utility space.
One apartment is occupied, while the other is scheduled for occupancy. Exterior improvements include a detached two-car garage and additional concrete parking at the rear, with access from the alley. The property is located at 609 E C St in Belleville, Illinois, and is being sold AS-IS.
One apartment is occupied, while the other is scheduled for occupancy. Exterior improvements include a detached two-car garage and additional concrete parking at the rear, with access from the alley. The property is located at 609 E C St in Belleville, Illinois, and is being sold AS-IS.
Key Highlights
- Two 3‑bedroom, 1‑bath units in a brick duplex
- 1,410 square feet; built in 1877
- Private basement and separate laundry hookups for each unit
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
$11,628
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
4.79%
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%
$232,560
$232.6K
Cap Rate 7%
$166,114
$166.1K
Cap Rate 9%
$129,200
$129.2K
Market Conditions
NOI Build-Up for 1,410 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
$17.8K $12.60/SF
− Vacancy
−$1.2K −$0.82/SF
EGI
$16.6K $11.78/SF
− OpEx
−$5.0K −$3.53/SF
NOI
$11.6K $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%
$232,560
Cap Rate 7%
$166,114
Cap Rate 9%
$129,200
Alternative Uses
Best Use
Multifamily LT 5
$166.1K
$145.4K – $193.8K
NOI $11,628 @ 7.0% cap · market cap 4.79%
Second Best
Apartment 5plus
$149.6K
$130.9K – $174.6K
NOI $10,475 @ 7.0% cap · market cap 4.31%
Theoretical Best
Office A
$333.8K
$292.1K – $389.4K
NOI $23,366 @ 7.0% cap · market cap 9.62%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,076
Businesses Nearby
Explore this area
Business Placement
Demographics for 62220, IL
19,474
Population
8,784
Households
2.2
Avg Household Size
39
Median Age
28%
College-Educated
93%
High-School Grad
28.9 sq mi
ZIP Area
674
Density / Sq Mi
$65,261
Median Household Income
$37,105
Median Earnings
$976
Median Rent
$141,300
Median Home Value
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Market
Vacancy Rate% for Multifamily in Midwest region
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Frequently Asked Questions
What type of property is this?
Duplex - Two updated three-bedroom units include hardwood floors, separate laundry hookups, and generous interior space.
Where is this duplex located?
The property is located at 609 E C St Belleville, IL.
What is the asking price?
The asking price for this property is $243,000.
What are key features of this property?
This property features: Two 3‑bedroom, 1‑bath units in a brick duplex; 1,410 square feet; built in 1877; Private basement and separate laundry hookups for each unit
