Spacious Duplex in Desirable
For Sale
$599,000
627 Chardonnay Ln, Crystal Lake, IL
Well-maintained duplex with investment potential in Crystal Lake, Illinois.
Property Size3,000 SF
Price / SF$199.67
Days on Market151
Property Features for 627 Chardonnay Ln
General Information
Standard status
Active
Size
3,000 SF
Property subtype
Residential Income
Taxes and HOA fees
Annual Taxes
$10,492
Listing Agency:
@properties Christie's International Real Estate
(847) 373-1594
Listed By:
Elizabeth Trevino Martinez · License #475172559
(847) 373-1594
Source:
Exprealty
Added: Mar 27
Changed: Aug 23
Last Checked: Jul 31 at 4:43PM
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 @properties Christie's International Real Estate
Investment Insights
Based on property information with market context.
Located in the Coventry area of Crystal Lake, this duplex at 627/629 Chardonnay Lane offers comfort, convenience, and investment potential. The property features two mirror-image units, each with 3 bedrooms, 2 full bathrooms, and approximately 1,500 square feet of living space. The bright, open layouts include living and dining areas, eat-in kitchens, and large windows. The upper unit has a deck off the kitchen, while the lower unit offers walk-out access to the backyard. The backyard provides room for recreation and includes a shed behind the 2.5-car garage for storage. Driveway parking accommodates up to four additional vehicles. There are two dedicated storage spaces within the garage, one assigned to each unit. The main level includes a common laundry area with two washers and two dryers. Coventry is known for its family-friendly atmosphere, cleanliness, and proximity to a top-rated high school. Residents have easy access to shopping, dining, Metra, and outdoor recreation with more than 1,600 acres of parks, and Three Oaks Recreational Park nearby. This property is suitable for turnkey investors or those seeking a multigenerational living opportunity.
Key Highlights
- Two mirror‑image units, each with 3 bedrooms and 2 full bathrooms, ideal for turnkey investment or multigenerational living.
- Located in the desirable Coventry area of Crystal Lake, known for its family‑friendly atmosphere and proximity to a top‑rated high school.
- Each unit features bright, open layouts with generous living and dining areas, eat‑in kitchens, and large windows.
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
$29,776
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
4.97%
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%
$595,520
$595.5K
Cap Rate 7%
$425,371
$425.4K
Cap Rate 9%
$330,844
$330.8K
Market Conditions
NOI Build-Up for 3,000 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
$46.1K $15.36/SF
− Vacancy
−$3.5K −$1.18/SF
EGI
$42.5K $14.18/SF
− OpEx
−$12.8K −$4.25/SF
NOI
$29.8K $9.93/SF
Area
McHenry County, IL
Vacancy
7.69%
Lease Rate
$15.36 /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%
$595,520
Cap Rate 7%
$425,371
Cap Rate 9%
$330,844
Alternative Uses
Best Use
Multifamily LT 5
$425.4K
$372.2K – $496.3K
NOI $29,776 @ 7.0% cap · market cap 4.97%
Second Best
Apartment 5plus
$376.9K
$329.8K – $439.7K
NOI $26,384 @ 7.0% cap · market cap 4.40%
Theoretical Best
Office A
$1.04M
$906.3K – $1.21M
NOI $72,503 @ 7.0% cap · market cap 12.10%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
48
Businesses Nearby
Explore this area
Business Placement
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 - Well-maintained duplex with investment potential in Crystal Lake, Illinois.
Where is this duplex located?
The property is located at 627 Chardonnay Ln Crystal Lake, IL.
What is the asking price?
The asking price for this property is $599,000.
What are key features of this property?
This property features: Two mirror‑image units, each with 3 bedrooms and 2 full bathrooms, ideal for turnkey investment or multigenerational living.; Located in the desirable Coventry area of Crystal Lake, known for its family‑friendly atmosphere and proximity to a top‑rated high school.; Each unit features bright, open layouts with generous living and dining areas, eat‑in kitchens, and large windows.
