822 East Cantrell Street, Decatur, IL

23.76% return

SP: $315,000

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Property Description

RENTAL PORTFOLIO!!!!

7 single family properties and a duplex, total of 9 units!!! Units are in good shape. Only $35k per unit!!! 16%+ NET RETURN ON INVESTMENT!!! Low expenses. Located in beautiful Decatur, IL. Over 100k residents in MSA. Tons of potential and upside!!!

Financing available! Management already in place!

Property Information

Listing statusSold
Property typeSingle Family (9 properties)
Total units15
Total bedrooms26
Total bathrooms17
Building size14183 sq. ft.
Lot size1.3 acres
Year built1868 - 1942

CountyMacon County
Subdivision
ConstructionFrame, Brick
RoofAsphalt Shingle, Flat
Water sourceCity water
Water disposalSewer
HeatingCentral, Electric Base Board, Window Unit
CoolingCentral air, Wall A/C, Window A/C

Property Financial Summary

Sale price$315,000
Estimated rehab¹$10,000
Total investment$325,000

TypeProforma

Gross income (annually)$112,800
Operating expenses (annually)$35,592
Net income (annually)$77,208
Gross return34.71%

Gross income (monthly)$9,400
Operating expenses (monthly)$2,966
Net income (monthly)$6,434
Net return23.76%

Property Income & ExpensesMonthlyAnnual

Income

1155 West Leafland Avenue
2 bed / 1 bath$725/month$8,700/year
1198 North Woodford Street
2 bed / 1 bath$725/month$8,700/year
1305 East Locust Street, Main
Unit 1: 2 bed / 1 bath$650/month$7,800/year
Unit 2: 2 bed / 1 bath$650/month$7,800/year
1425 North Dennis Avenue
1 bed / 1 bath$550/month$6,600/year
1560 North Monroe Street
2 bed / 1 bath$650/month$7,800/year
1818 East Lawrence Street
3 bed / 2 bath$775/month$9,300/year
1920 East Main Street
2 bed / 1 bath$725/month$8,700/year
670 West Decatur Street, Main
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
822 East Cantrell Street
4 bed / 2 bath$950/month$11,400/year
Total$9,400/month$112,800/year

Expenses

Property Taxes$734/month$8,804/year
Insurance (estimated)$250/month$3,000/year
Maintenance reserve$600/month$7,200/year
Property Management$940/month$11,280/year
Water bill$70/month$840/year
Waste Collection$114/month$1,368/year
Water and Sewer$208/month$2,500/year
Light poll$50/month$600/year
Total$2,966/month$35,592/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.