ONLY $16K/DOOR!!
670 West Decatur Street, Decatur, IL
17.04% return
SP:
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Property Description

HANDYMAN SPECIAL!! 

6 unit BRICK building in Illinois! Property is vacant and needs rehab. Has the potential to generate an almost 20% RETURN after renovations!! 

Financing available and crew ready to go for rehab!!

Property Information

  • Listing statusActive
  • Property typeMulti Family
  • Total units6
  • Total bedrooms6
  • Total bathrooms6
  • Building size4800 sq. ft.
  • Lot size0.1 acres
  • Year built(unknown)
  • CountyMacon County
  • SubdivisionMartin Fortsmeyers Add
  • ConstructionBrick
  • RoofFlat
  • Water sourceCity water
  • Water disposalSewer
  • HeatingElectric Base Board
  • CoolingWall A/C

Property Financial Summary

  • Sale price $99,900
  • Estimated rehab 1 $40,000
  • Total investment $139,900
  • Type Proforma
  • Gross income (annually) $36,000
  • Operating expenses (annually) $12,168
  • Net income (annually) $23,832
  • Gross return 25.73%
  • Gross income (monthly) $3,000
  • Operating expenses (monthly) $1,014
  • Net income (monthly) $1,986
  • Net return 17.04%

Property Income & Expenses

  • Income
  • Unit 1: 1 bed / 1 bath $500/month $6,000/year
  • Unit 2: 1 bed / 1 bath $500/month $6,000/year
  • Unit 3: 1 bed / 1 bath $500/month $6,000/year
  • Unit 4: 1 bed / 1 bath $500/month $6,000/year
  • Unit 5: 1 bed / 1 bath $500/month $6,000/year
  • Unit 6: 1 bed / 1 bath $500/month $6,000/year
  • Total $3,000/month $36,000/year
  • Expenses
  • Property Taxes $242/month $2,900/year
  • Waste Collection $114/month $1,368/year
  • Water and Sewer $208/month $2,500/year
  • Light poll $50/month $600/year
  • Insurance (estimated) $100/month $1,200/year
  • Property Management $300/month $3,600/year
  • Total $1,014/month $12,168/year

Property Questions & Answers

Q: How do I make an offer on this property?
A: Placing an offer is a simple process. All offers must be presented in writing with an escrow deposit of 10% or $5,000, whichever is larger. Escrow has to be sent to the attorney or title company who is handling the file for this property. Please send us an inquiry and one of our team members will get in touch with you to further assist you. You can also give us a call.

Q: Does this property come with clear title?
A: All our properties come with clear title. We highly recommend you purchase title insurance as well.

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