Two-Unit Duplex with Rear
For Sale
$235,000
824 Henry Street, Alton, IL 62002
Both apartments are occupied and include a stove, refrigerator, and all-in-one washer and dryer.
Property Size2,290 SF
Price / SF$102.62
Days on Market15
Property Features for 824 Henry Street
General Information
Standard status
Active
Size
2,290 SF
Property subtype
Residential Income
Units
Unit Mix
1 x 1BR/1BA, 1 x 2BR/1BA
Multifamily Units
2
Additional Details
Tenant in Place
Yes
Taxes and HOA fees
Annual Taxes
$4,774
Amenities
stove
refrigerator
all-in-one washer and dryer
off-street parking
Building Details
Building Size
2,290 SF
Year Built
1891
Listing Agency:
RE/MAX Alliance
(618) 466-7100
Listed By:
Jill Schulz · License #471006807
(618) 550-9238
Source:
Finehomesbydawn
Added: Oct 16
Changed: Oct 27
Last Checked: Oct 29 at 6:30PM
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 RE/MAX Alliance
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Investment Insights
Based on property information with market context.
This 2,290-square-foot duplex in Alton contains two apartments, both currently rented. The first-floor residence has one bedroom and one full bathroom; the upper-floor unit has two bedrooms and one full bathroom and has been remodeled. Both units are described as being in good condition and include a stove, refrigerator, and all-in-one washer and dryer. The roof was replaced in 2026.
Built in 1891, the property is across the street from Duke Bakery. Off-street parking is available at the rear of the building.
Built in 1891, the property is across the street from Duke Bakery. Off-street parking is available at the rear of the building.
Key Highlights
- Two apartments: one with 1 bedroom and 1 full bath; the other with 2 bedrooms and 1 full bath
- Both units currently rented
- Second‑floor apartment remodeled
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$16,869
Cap Rate
7.18%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$337,380
$337.4K
Cap Rate 7%
$240,986
$241.0K
Cap Rate 9%
$187,433
$187.4K
Market Conditions
NOI Build-Up for 2,290 SF
Gross rent
$26.1K $11.40/SF
− Vacancy
−$2.0K −$0.88/SF
EGI
$24.1K $10.52/SF
− OpEx
−$7.2K −$3.16/SF
NOI
$16.9K $7.37/SF
Area
Madison County, IL
Vacancy
7.69%
Lease Rate
$11.40 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$337,380
Cap Rate 7%
$240,986
Cap Rate 9%
$187,433
Alternative Uses
Best Use
Multifamily LT 5
$241.0K
$210.9K – $281.2K
NOI $16,869 @ 7.0% cap · market cap 7.18%
Second Best
Apartment 5plus
$226.2K
$197.9K – $263.9K
NOI $15,834 @ 7.0% cap · market cap 6.74%
Theoretical Best
Office A
$624.2K
$546.2K – $728.2K
NOI $43,693 @ 7.0% cap · market cap 18.59%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
904
Businesses Nearby
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Business Placement
Demographics for 62002, IL
30,176
Population
14,832
Households
2
Avg Household Size
41
Median Age
24%
College-Educated
92%
High-School Grad
41.3 sq mi
ZIP Area
731
Density / Sq Mi
$57,851
Median Household Income
$38,120
Median Earnings
$941
Median Rent
$114,300
Median Home Value
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Duplex - Both apartments are occupied and include a stove, refrigerator, and all-in-one washer and dryer.
Where is this duplex located?
The property is located at 824 Henry Street Alton, IL.
What is the asking price?
The asking price for this property is $235,000.
What are key features of this property?
This property features: Two apartments: one with 1 bedroom and 1 full bath; the other with 2 bedrooms and 1 full bath; Both units currently rented; Second‑floor apartment remodeled
