Updated Duplex with Private
For Sale
$379,000
9412 Noel Avenue, Des Plaines, IL 60016
A thoughtfully renovated duplex offers flexible living space, refreshed systems, and a private yard near schools, retail, parks, and expressways.
Property Size1,637 SF
Price / SF$231.52
Days on Market8
Property Features for 9412 Noel Avenue
General Information
Standard status
Active
Size
1,637 SF
Property subtype
1/2 Duplex
Additional Details
Highway Access
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$6,679
Amenities
private yard
Building Details
Building Size
1,637 SF
Year Built
1963
Year Renovated
2026
Buildings
1
Listing Agency:
Coldwell Banker Realty
Listed By:
Asish Kurian
(773) 631-8300
Source:
Dawnmckennagroup
Added: Sep 17
Changed: Sep 23
Last Checked: Sep 22 at 10:26PM
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 Coldwell Banker Realty
Investment Insights
Based on property information with market context.
Built in 1963, this 1,637 SF duplex received extensive updates in 2026, including a new roof, siding, replacement windows, mechanical systems, and remodeled bathrooms. The interior features an open living arrangement, a quartz-finished kitchen with custom cabinetry and stainless appliances, spacious bedrooms, and 2.5 baths. A lower-level powder room adds practical separation, while the private yard extends the usable living area.
The property is located in Des Plaines and is served by Districts 63 and 207, including Maine East HS. Parks, retail, and expressway access are nearby, supporting convenient day-to-day living and regional connectivity.
The property is located in Des Plaines and is served by Districts 63 and 207, including Maine East HS. Parks, retail, and expressway access are nearby, supporting convenient day-to-day living and regional connectivity.
Key Highlights
- 1,637 SF duplex built in 1963
- Extensive 2026 updates include roof, siding, windows, mechanical systems, and bathrooms
- 2.5‑bath layout with a lower‑level powder room
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
$21,242
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
5.60%
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%
$424,840
$424.8K
Cap Rate 7%
$303,457
$303.5K
Cap Rate 9%
$236,022
$236.0K
Market Conditions
NOI Build-Up for 1,637 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
$32.8K $20.04/SF
− Vacancy
−$2.5K −$1.50/SF
EGI
$30.3K $18.54/SF
− OpEx
−$9.1K −$5.56/SF
NOI
$21.2K $12.98/SF
Area
Cook County, IL
Vacancy
7.50%
Lease Rate
$20.04 /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%
$424,840
Cap Rate 7%
$303,457
Cap Rate 9%
$236,022
Alternative Uses
Best Use
Multifamily LT 5
$303.5K
$265.5K – $354.0K
NOI $21,242 @ 7.0% cap · market cap 5.60%
Second Best
Apartment 5plus
$271.3K
$237.4K – $316.5K
NOI $18,991 @ 7.0% cap · market cap 5.01%
Theoretical Best
Office A
$565.2K
$494.5K – $659.4K
NOI $39,563 @ 7.0% cap · market cap 10.44%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
672
Businesses Nearby
Explore this area
Business Placement
Demographics for 60016, IL
61,888
Population
25,613
Households
2.4
Avg Household Size
42
Median Age
43%
College-Educated
89%
High-School Grad
12.1 sq mi
ZIP Area
5,115
Density / Sq Mi
$84,044
Median Household Income
$50,180
Median Earnings
$1,406
Median Rent
$300,700
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 - A thoughtfully renovated duplex offers flexible living space, refreshed systems, and a private yard near schools, retail, parks, and expressways.
Where is this duplex located?
The property is located at 9412 Noel Avenue Des Plaines, IL.
What is the asking price?
The asking price for this property is $379,000.
What are key features of this property?
This property features: 1,637 SF duplex built in 1963; Extensive 2026 updates include roof, siding, windows, mechanical systems, and bathrooms; 2.5‑bath layout with a lower‑level powder room
