Triplex with Detached
New
For Sale
$139,900
712 1st Ave, Sterling, IL 61081
All three units are occupied, with two month-to-month leases and one one-year lease.
Property Size1,880 SF
Price / SF$74.41
Days on Market7
Property Features for 712 1st Ave
General Information
Standard status
Active
Size
1,880 SF
Total Parking Spaces
2
Property subtype
Residential Income
Occupancy
100%
Additional Details
Multifamily Units
3
Tenant in Place
Yes
Taxes and HOA fees
Annual Taxes
$4,194
Amenities
laundry hook-ups
deck
partial basement
Building Details
Buildings
1
Tenancy
Multi
Listing Agency:
Judy Powell Realty
(815) 626-7450
Listed By:
Judy Powell · License #471010072
(815) 716-7450
Source:
Exprealty
Added: Oct 19
Changed: Oct 23
Last Checked: Oct 24 at 9:50PM
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 Judy Powell Realty
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Investment Insights
Based on property information with market context.
This triplex contains three occupied units, including an upstairs apartment with a one-year lease and two units on month-to-month agreements. Refrigerators and stoves remain with the property. Laundry hookups are available in the front and rear units, and a partial basement adds storage space. The building measures 1,880 square feet and has a newer deck; the roof dates to 2015.
A detached two-car garage is accessed from the alley. The property sits on a corner lot at 712 1st Ave in Sterling, Illinois.
A detached two-car garage is accessed from the alley. The property sits on a corner lot at 712 1st Ave in Sterling, Illinois.
Key Highlights
- Three occupied units: two month‑to‑month leases and one one‑year lease
- 1,880‑square‑foot triplex with partial basement
- Detached two‑car garage with alley access on a corner lot
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$11,074
Cap Rate
7.92%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$221,480
$221.5K
Cap Rate 7%
$158,200
$158.2K
Cap Rate 9%
$123,044
$123.0K
Market Conditions
NOI Build-Up for 1,880 SF
Gross rent
$16.9K $9.00/SF
− Vacancy
−$1.1K −$0.59/SF
EGI
$15.8K $8.42/SF
− OpEx
−$4.7K −$2.52/SF
NOI
$11.1K $5.89/SF
Area
Whiteside County, IL
Vacancy
6.50%
Lease Rate
$9.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$221,480
Cap Rate 7%
$158,200
Cap Rate 9%
$123,044
Alternative Uses
Best Use
Multifamily LT 5
$158.2K
$138.4K – $184.6K
NOI $11,074 @ 7.0% cap · market cap 7.92%
Second Best
Apartment 5plus
$141.6K
$123.9K – $165.2K
NOI $9,914 @ 7.0% cap · market cap 7.09%
Theoretical Best
Specialty Retail
$351.7K
$307.7K – $410.3K
NOI $24,619 @ 7.0% cap · market cap 17.60%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Lease Details
3
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
607
Businesses Nearby
Explore this area
Business Placement
Demographics for 61081, IL
21,064
Population
9,753
Households
2.2
Avg Household Size
43
Median Age
20%
College-Educated
91%
High-School Grad
124.4 sq mi
ZIP Area
169
Density / Sq Mi
$60,854
Median Household Income
$40,497
Median Earnings
$791
Median Rent
$121,000
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Triplex - All three units are occupied, with two month-to-month leases and one one-year lease.
Where is this triplex located?
The property is located at 712 1st Ave Sterling, IL.
What is the asking price?
The asking price for this property is $139,900.
What are key features of this property?
This property features: Three occupied units: two month‑to‑month leases and one one‑year lease; 1,880‑square‑foot triplex with partial basement; Detached two‑car garage with alley access on a corner lot
