2-Unit Duplex with
New
For Sale
$210,000
9 Concord Dr, Millstadt, IL 62260
Both residences have laundry hookups, covered parking, and dedicated storage areas.
Property Size1,920 SF
Price / SF$109.38
Days on Market6
Property Features for 9 Concord Dr
General Information
Standard status
Active
Size
1,920 SF
Property subtype
Multi-Family
Building Details
Year Built
1979
Listing Agency:
Century 21 Advantage
Listed By:
Robert Knysak · License #475170786
(618) 979-7115
Source:
Avenuerealtyteam
Added: Sep 30
Changed: Oct 2
Last Checked: Oct 4 at 2:37PM
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 Century 21 Advantage
Investment Insights
Based on property information with market context.
Built in 1979, this 1,920-square-foot duplex contains two residences, each with two bedrooms, one full bathroom, washer and dryer hookups, and covered carport parking. Storage space is also provided in the carport area. The roof was replaced approximately eight years ago, according to the seller.
The property is on a cul-de-sac in Millstadt, Illinois. Both units are occupied, and the sale is offered in as-is condition with no repairs by the seller.
The property is on a cul-de-sac in Millstadt, Illinois. Both units are occupied, and the sale is offered in as-is condition with no repairs by the seller.
Key Highlights
- Two residential units, each with 2 bedrooms and 1 full bathroom
- 1,920 square feet; built in 1979
- Washer and dryer hookups in both units
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
$15,834
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
7.54%
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%
$316,680
$316.7K
Cap Rate 7%
$226,200
$226.2K
Cap Rate 9%
$175,933
$175.9K
Market Conditions
NOI Build-Up for 1,920 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
$24.2K $12.60/SF
− Vacancy
−$1.6K −$0.82/SF
EGI
$22.6K $11.78/SF
− OpEx
−$6.8K −$3.53/SF
NOI
$15.8K $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%
$316,680
Cap Rate 7%
$226,200
Cap Rate 9%
$175,933
Alternative Uses
Best Use
Multifamily LT 5
$226.2K
$197.9K – $263.9K
NOI $15,834 @ 7.0% cap · market cap 7.54%
Second Best
Apartment 5plus
$203.8K
$178.3K – $237.7K
NOI $14,264 @ 7.0% cap · market cap 6.79%
Theoretical Best
Office A
$454.5K
$397.7K – $530.3K
NOI $31,817 @ 7.0% cap · market cap 15.15%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
217
Businesses Nearby
Explore this area
Business Placement
Demographics for 62260, IL
7,162
Population
2,863
Households
2.5
Avg Household Size
46
Median Age
31%
College-Educated
98%
High-School Grad
43.9 sq mi
ZIP Area
163
Density / Sq Mi
$93,929
Median Household Income
$52,766
Median Earnings
$1,000
Median Rent
$229,600
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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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 - Both residences have laundry hookups, covered parking, and dedicated storage areas.
Where is this duplex located?
The property is located at 9 Concord Dr Millstadt, IL.
What is the asking price?
The asking price for this property is $210,000.
What are key features of this property?
This property features: Two residential units, each with 2 bedrooms and 1 full bathroom; 1,920 square feet; built in 1979; Washer and dryer hookups in both units
