Spacious Condo Near Kiwanis
For Sale
$117,000
930 17TH Street #24, Moline, IL 61265
Second-floor condo with balcony, garage, and included amenities.
Property Size1,200 SF
Price / SF$97.50
Days on Market499
Property Features for 930 17TH Street #24
General Information
Standard status
Active
Size
1,200 SF
Property subtype
Single Family Detached
Amenities
Forced Air
Natural Gas
Central Air
Dishwasher
Disposal
Dryer
Microwave
Range
Refrigerator
Washer
Range Hood
Deck, Water Front
Building Details
Building Size
1,200 SF
Year Built
1964
Listing Agency:
RE/MAX Concepts Bettendorf
Listed By:
Richard Bassford
Source:
Kw
Added: Mar 31, 2025
Changed: Aug 8
Last Checked: Jul 16 at 6:47AM
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 Concepts Bettendorf
Investment Insights
Based on property information with market context.
This second-floor, single-level condo offers a bright layout with a spacious living room, informal dining area, kitchen, and laundry closet. It includes 3 bedrooms and 2 full bathrooms. The primary bedroom connects to a shared full bath, while the 2nd bedroom offers access to a private balcony. The condo includes 1 garage parking space and a double storage area on the main level. A community boiler provides hot water, and a furnace and A/C system ensure year-round comfort. The HOA covers water, trash, snow removal, and grounds maintenance. Recent updates include a new roof in 2019/2020. The property is located a few blocks from Kiwanis Park and The Spotlight Theatre, with quick access to I-74 and downtown Moline.
Key Highlights
- Convenient location: close to Kiwanis Park, The Spotlight Theatre, I‑74, and downtown Moline.
- Enjoy low‑maintenance living with HOA covering water, trash, snow removal, and grounds maintenance.
- Features three bedrooms and two full bathrooms in a single‑level condo.
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
$7,381
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
6.31%
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%
$147,620
$147.6K
Cap Rate 7%
$105,443
$105.4K
Cap Rate 9%
$82,011
$82.0K
Market Conditions
NOI Build-Up for 1,200 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
$14.4K $12.00/SF
− Vacancy
−$979 −$0.82/SF
EGI
$13.4K $11.18/SF
− OpEx
−$6.0K −$5.03/SF
NOI
$7.4K $6.15/SF
Area
Rock Island County, IL
Vacancy
6.80%
Lease Rate
$12.00 /SF/Yr
Expense Ratio
45.00%
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%
$147,620
Cap Rate 7%
$105,443
Cap Rate 9%
$82,011
Alternative Uses
Best Use
Apartment 5plus
$105.4K
$92.3K – $123.0K
NOI $7,381 @ 7.0% cap · market cap 6.31%
Second Best
—
—
no second resolved use
Theoretical Best
Healthcare Medical
$204.4K
$178.8K – $238.4K
NOI $14,306 @ 7.0% cap · market cap 12.23%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
364
Businesses Nearby
Explore this area
Business Placement
Demographics for 61265, IL
44,342
Population
20,396
Households
2.2
Avg Household Size
40
Median Age
28%
College-Educated
89%
High-School Grad
19.2 sq mi
ZIP Area
2,309
Density / Sq Mi
$63,910
Median Household Income
$38,960
Median Earnings
$890
Median Rent
$142,300
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Apartment building - Second-floor condo with balcony, garage, and included amenities.
Where is this apartment building located?
The property is located at 930 17TH Street #24 Moline, IL.
What is the asking price?
The asking price for this property is $117,000.
What are key features of this property?
This property features: Convenient location: close to Kiwanis Park, The Spotlight Theatre, I‑74, and downtown Moline.; Enjoy low‑maintenance living with HOA covering water, trash, snow removal, and grounds maintenance.; Features three bedrooms and two full bathrooms in a single‑level condo.
