Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    517 N Oakland Ave Carbondale, IL 62901

    • Residential income homes
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Residential income homes

    Property Details for 517 N Oakland Ave

    Year built
    1923
    Property type
    Residential income homes
    Property subtype
    Investment properties

    Description

    This exceptional investment opportunity presents a well-maintained, two-unit apartment building located at 517 N Oakland Ave, Carbondale, IL 62901. The property boasts a total building size of 1,434 square feet situated on a 0.1-acre lot. The building comprises two generously sized units: a three-bedroom, one-bathroom unit on the lower level and a two-bedroom, one-bathroom unit on the upper level. Currently operating at 100% occupancy, the property is projected to generate monthly rental income exceeding $1550, translating to a net return on investment exceeding 13%. The property is in excellent condition and requires no immediate renovations. This turnkey investment is ideal for those seeking a strong, stable cash flow with significant potential for future appreciation. The property is priced at $84,900. Note that the provided net operating income and price per square foot were not available.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Carbondale
    County
    State
    Illinois

    Comparable in this City

    • $43,000
      1,196 SF

      Carbondale Multifamily Investment

      Four-unit apartment building, great potential.
      406 University Ave, Carbondale, IL 62901
      View Details
    • $110,000
      1,400 SF

      Well-Maintained Duplex Near SIU

      Two-unit duplex, well-maintained, close to SIU and shopping.
      205 S Emerald Ln, Carbondale, IL 62901
      View Details
    • $189,900
      1.29 Acres

      Carbondale Commercial Land Opportunity

      Over 1 acre available for development or rehab.
      409 E Walnut St, Carbondale, IL 62901
      View Details
    • $49,900

      Carbondale Multifamily Property For Sale

      Two detached units on one lot in Carbondale, Illinois.
      408 S Frst St, Carbondale, IL 62901
      View Details
    • $339,900
      Pending

      Carbondale Multifamily Investment Opportunity

      10-unit complex near Southern Illinois University with value-add potential.
      505 S Poplar St, Carbondale, IL 62901
      View Details
    • $79,900

      Carbondale Multifamily Property For Sale

      Multifamily property in Carbondale, Illinois, with duplex and detached unit.
      106 S Frst St, Carbondale, IL 62901
      View Details

    Similar Nearby for Sale

    • $43,000
      1,196 SF

      Carbondale Multifamily Investment

      Four-unit apartment building, great potential.
      406 University Ave, Carbondale, IL 62901
      View Details
    • $339,900
      Pending

      Carbondale Multifamily Investment Opportunity

      10-unit complex near Southern Illinois University. Great investment potential.
      505 S Poplar St, Carbondale, IL 62901
      View Details
    • $275,000

      Carbondale Multifamily Investment Opportunity

      Nine-unit multifamily property in Carbondale, Illinois, with value-add potential.
      1950 N Illinois Ave, Carbondale, IL 62901
      View Details
    • $720,000

      Carbondale Multifamily Foreclosure Opportunity

      Fourteen townhouse units near Southern Illinois University campus.
      405-411 E Mill St, Carbondale, IL 62901
      View Details
    • $79,900

      Carbondale Multifamily Property For Sale

      Multifamily property in Carbondale, Illinois, with duplex and detached unit.
      106 S Frst St, Carbondale, IL 62901
      View Details
    • $56,800

      Carbondale Multifamily Property For Sale

      Large unit with six bedrooms, ideal for various uses.
      701 W Cherry St, Carbondale, IL 62901
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      87,120 SF

      Former Bank Building For Lease

      Move-in ready commercial building with drive-up windows and ample parking.
      216 E Main St, Carbondale, IL 62901
      View Details
    • Contact for pricing

      Retail Space in Carbondale Mall

      Single retail unit in Carbondale's commercial district for lease.
      1130 E Main St, Carbondale, IL 62901
      View Details
    • Contact for pricing
      74,052 SF

      Prime Retail Location on Highway

      Two commercial buildings available for lease on a state highway.
      1345 E Main St, Carbondale, IL 62901
      View Details
    • Contact for pricing
      2,300 SF

      Prime Carbondale Retail Space

      Freestanding building, 2300 sq ft
      1040 Walnut St, Carbondale, IL 62901
      View Details
    • $12 SF/Yr
      7,592 SF

      Retail Space on Main Street

      7,592 SF retail space with high visibility available for lease.
      1401 E Main St, Carbondale, IL 62901
      View Details
    • $22 SF/Yr
      24,960 SF

      Carbondale Medical Office Building

      Prime Medical Space Available in Carbondale, IL
      900 Walnut St, Carbondale, IL 62901
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    517 N Oakland Ave
    Carbondale, IL 62901
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.