895 West Leafland Avenue, Decatur, IL

15.46% return

SP: $1,450,000

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250 N College St

Property Description

INSANE CASH FLOW!!!

41 units in total, consisting of 32 different parcels! Only $35k per unit!! Portfolio has amazing upside. Low expenses. The city is home to production centers for Catepillar, Archer Daniels Midland, Mueller Co., and Tate & Lyle. Ranked 3rd in the nation as an emerging logistics and distribution center. Properties have the potential to generate $27,000/month in income and a 15.46% return on investment after minor improvements!!!! Units are located within minutes of each other. This is an opportunity to build a huge rental portfolio without putting in the work! Do not miss out, as package will get smaller.

Financing is available. Professional property management is in place.

Property Information

Listing statusSold
Property typeSingle Family (32 properties)
Total units41
Total bedrooms84
Total bathrooms46
Building size33835 sq. ft.
Lot size4.0 acres
Year built1885 - 1957

CountyMacon County
Subdivision
ConstructionFrame, Brick/Frame
RoofAsphalt Shingle
Water sourceCity water
Water disposalSewer, Septic
HeatingCentral, Window Unit
CoolingCentral air, Window A/C

Property Financial Summary

Sale price$1,450,000
Estimated rehab¹$100,000
Total investment$1,550,000

TypeProforma
After repair value$1,845,000
Potential profit$295,000

Gross income (annually)$324,000
Operating expenses (annually)$84,317
Net income (annually)$239,683
Gross return20.90%

Gross income (monthly)$27,000
Operating expenses (monthly)$7,026
Net income (monthly)$19,974
Net return15.46%

Property Income & ExpensesMonthlyAnnual

Income

1021 North 35th Street
2 bed / 1 bath$650/month$7,800/year
1073 Curtis Avenue
2 bed / 1 bath$700/month$8,400/year
1137 South Illinois Street
3 bed / 2 bath$850/month$10,200/year
1156 North Union Street
3 bed / 1 bath$650/month$7,800/year
1168 West Marietta Street
3 bed / 2 bath$900/month$10,800/year
1261 East Cantrell Street
2 bed / 1 bath$650/month$7,800/year
1355 North College Street
3 bed / 1 bath$750/month$9,000/year
1362 East Condit Street
3 bed / 1 bath$650/month$7,800/year
142 South Witt Street
2 bed / 1 bath$650/month$7,800/year
1424 East Whitmer Street
2 bed / 1 bath$700/month$8,400/year
146 South Witt Street
2 bed / 1 bath$650/month$7,800/year
1491 West Forest Avenue
4 bed / 1 bath$975/month$11,700/year
1553 North Walnut Grove Avenue
2 bed / 1 bath$650/month$7,800/year
1561 West Hunt Street
2 bed / 1 bath$650/month$7,800/year
1820 West Grand Avenue
2 bed / 1 bath$700/month$8,400/year
1910 Indiana Court
2 bed / 1 bath$700/month$8,400/year
2035 East William Street, Duplex
Unit 1: 2 bed / 1 bath$600/month$7,200/year
Unit 2: 2 bed / 1 bath$600/month$7,200/year
2152 East Johns Avenue
2 bed / 1 bath$650/month$7,800/year
234 South 17th Street
2 bed / 1 bath$700/month$8,400/year
250 North College Street, Main
Unit 1: 1 bed / 1 bath$550/month$6,600/year
Unit 2: 1 bed / 1 bath$550/month$6,600/year
Unit 3: 1 bed / 1 bath$550/month$6,600/year
255 South Stone Street
2 bed / 1 bath$625/month$7,500/year
324 South Monroe Street
2 bed / 2 bath$750/month$9,000/year
623 West William Street, Main
Unit 1: 1 bed / 1 bath$450/month$5,400/year
Unit 2: 1 bed / 1 bath$450/month$5,400/year
Unit 3: 1 bed / 1 bath$450/month$5,400/year
Unit 4: 1 bed / 1 bath$450/month$5,400/year
Unit 5: 1 bed / 1 bath$450/month$5,400/year
654 West Grand Avenue
2 bed / 1 bath$650/month$7,800/year
725 West Center Street
2 bed / 1 bath$700/month$8,400/year
750 West Cushing Street
3 bed / 1 bath$800/month$9,600/year
840 West Wood Street
2 bed / 1 bath$650/month$7,800/year
843 West Macon Street, Main
Unit 1: 2 bed / 1 bath$650/month$7,800/year
Unit 2: 3 bed / 1 bath$700/month$8,400/year
853 East Main Street, Main
Unit 1: 1 bed / 1 bath$500/month$6,000/year
Unit 2: 1 bed / 1 bath$500/month$6,000/year
895 West Leafland Avenue
3 bed / 2 bath$800/month$9,600/year
941 East Cantrell Street
3 bed / 2 bath$850/month$10,200/year
963 North Mcclellan Street
3 bed / 1 bath$900/month$10,800/year
Total$27,000/month$324,000/year

Expenses

Property Taxes$1,701/month$20,417/year
Waste Collection$650/month$7,800/year
Insurance (estimated)$900/month$10,800/year
Maintenance reserve$1,075/month$12,900/year
Property Management$2,700/month$32,400/year
Total$7,026/month$84,317/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.