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    2202 Illinois Ave Carbondale, IL 62903

    Sponsored
    For Sale
    $118,900

    Two-unit rental property, strong NOI.

    Property size:
    2,016 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional investment opportunity presents a well-maintained, two-unit apartment building located at 2202 S Illinois Ave, Carbondale, IL 62903. Built in 1984, this single-story property boasts a total of 2,016 square feet situated on a 2,016 square foot lot. The property features two units, each offering two bedrooms and one bathroom, along with the convenience of an attached carport. This configuration is ideal for generating consistent rental income. The property's Net Operating Income (NOI) is a robust $3,935, making it an attractive proposition for investors seeking a solid return. The asking price is $118,900. The property is individually owned and is suitable for a 1031 exchange. The property's APN is 09-32-452-013. This is a fantastic opportunity to acquire a proven income-generating asset in a desirable location. The property's single-story design and manageable size offer ease of maintenance and management. Serious inquiries are encouraged.

    Property Features for 2202 Illinois Ave

    General Information

    Property type
    Multifamily properties
    Square Feet
    2,016 SF

    Building Details

    Year Built
    1984
    Buildings
    1
    Stories
    1
    Units
    2

    HighLights

    • $118,900 asking price for this multifamily investment property.
    • Two‑unit apartment building with 2,016 square feet.
    • $3,935 annual Net Operating Income (NOI).
    • Located at 2202 S Illinois Ave, Carbondale, IL 62903.
    • Built in 1984, this single‑story building sits on a 2,016 sq ft lot.
    • Broker co‑op available; suitable for a 1031 exchange.
    Property Profile Location Intelligence

    Current Use by Public Records

    Residential income homes

    Suggested Use

    Wholesale Shop Building Supply Auto Repair Shop Hotel & Motel Auto Parts Store Kitchen & Bath Storage Facility HVAC Service Garden Center Car Rental

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Carbondale
    County
    Jackson
    State
    Illinois
    Longitude
    -89.2199161
    Latitude
    37.6944091

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    FAQs

    What type of property is this?
    Multifamily property - Two-unit rental property, strong NOI.
    Where is this multifamily property located?
    The property is located at 2202 Illinois Ave Carbondale, IL.
    What is the asking price?
    The asking price for this property is $118,900.
    What are key features of this property?
    This property features: $118,900 asking price for this multifamily investment property.; Two-unit apartment building with 2,016 square feet.; $3,935 annual Net Operating Income (NOI).
    Request Owner's contact information
    2202 Illinois Ave Carbondale, IL 62903
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    Carbondale, IL 62903
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    2202 Illinois Ave Carbondale, IL 62903
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