Two-Unit Rental
615 N Center Street Collinsville, IL 62234
615 N Center Street, Collinsville, IL, 62234
$179,900
For Sale
Under Contract
$179,900
MULTI_FAMILY - Bungalow - Collinsville, IL
Property Size1,134 SF
Lot Size0.26 Acres
Price / SF$158.64
Days on Market53
Property Features for 615 N Center Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 3
- Bathrooms
- 2
- Rooms
- Bathroom 2, Basement, Bedroom 1, Bedroom 3, Bathroom 1, Bedroom 2
- Basement
- Full
- Appliances
- Refrigerator
- Standard status
- Active Under Contract
- APN
- 13-2-21-28-16-403-013
- Size
- 1,134 SF
- Lot size
- 0.26 Acres
Taxes and HOA fees
- Tax Year
- 2024
- Tax Description
- Wickliffes Add Subd Lot 109
- Tax Annual Amount
- 3161
Utilities
- Utilities
- Cable Available
- Heating system
- Forced Air
- Cooling system
- Central Air, Window Unit(s)
- Water source
- Public
Building Details
- Year built
- 1920
- Floors in Building
- 1
- Building materials
- Aluminum Siding
- Architectural style
- Bungalow
- Additional Structures
- Guest House
Listing agency
RE/MAX Alliance
(618) 345-2111
Listed by
Sandi Lewis · License #475126688
(618) 975-6043
Added: Jun 1 Updated: Jul 22 at 9:43AM Checked: Jul 23 at 4:06AM
MLS# 26030987
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.
This move-in-ready bungalow-style two-unit property includes a main 2-bedroom, 1-bath home and a separate 1-bedroom, 1-bath guest/rental unit. The main home features a living room with original woodwork, a large dining room, a hall bathroom separating two nicely sized bedrooms, and a full basement. The kitchen has original wood cupboards. The roof was installed in 2023.
The property is located in Collinsville, IL (Madison County) at 615 N Center Street. Appointments are required, and showings should be scheduled only with your real estate agent to respect tenant privacy.
The on-site guest/rental unit includes a living room and kitchen, and the main home is currently rented. The seller notes it has passed Collinsville occupancy.
The property is located in Collinsville, IL (Madison County) at 615 N Center Street. Appointments are required, and showings should be scheduled only with your real estate agent to respect tenant privacy.
The on-site guest/rental unit includes a living room and kitchen, and the main home is currently rented. The seller notes it has passed Collinsville occupancy.
Key Highlights
- 1920 bungalow with aluminum siding
- Roof replaced in 2023
- Main home offers 2 bedrooms and 1 bathroom plus a full basement
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $12.9k | $11.40 |
| − Vacancy | −$994 | −$0.88 |
| EGI | $11.9k | $10.52 |
| − OpEx | −$3.6k | −$3.16 |
| NOI | $8.4k | $7.37 |
1,134 SF · lease $11.40/SF/yr · vacancy 7.69% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$119.3K
$104.4K – $139.2K
NOI $8,353 @ 7.0% cap · market cap 4.64%
Second Best
Apartment 5plus
$112.0K
$98.0K – $130.7K
NOI $7,841 @ 7.0% cap · market cap 4.36%
Theoretical Best
Office A
$309.1K
$270.5K – $360.6K
NOI $21,637 @ 7.0% cap · market cap 12.03%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Duplex - A move-in-ready duplex includes a rented 2-bedroom home plus a separate 1-bedroom guest/rental unit on-site.
Where is this duplex located?
The property is located at 615 N Center Street Collinsville, IL.
What is the asking price?
The asking price for this property is $179,900.
What are key features of this property?
This property features: 1920 bungalow with aluminum siding; Roof replaced in 2023; Main home offers 2 bedrooms and 1 bathroom plus a full basement
