297 Oak Street, Dallas City, IL

18.39% return

SP: $64,900

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Property Description

LARGE DOWNTOWN BUILDING!!! Block away from the water. All Brick. Newer Roof. Brand New Gas Furnace! Over 5200 square feet! Total of 4 apartments, and space to add a couple more!! Offered at a massive discount, only $12.5 per square foot!!!! BUILDING WILL GENERATE A 18%+ NET RETURN ON INVESTMENT!!! Easy to manage. Long term tenants.

Property Information

Listing statusActive
Property typeMulti Family
Total units4
Total bedrooms7
Total bathrooms4
Building size5,200 sq. ft.
Lot size0.1 acres
Year built1900

CountyHancock County
SubdivisionORIGINAL TOWN
ConstructionBrick
RoofFlat
Water sourceCity water
Water disposalSewer
HeatingGas
CoolingWindow

Property Financial Summary

Sale price$64,900
Estimated rehab¹$5,000
Total investment$69,900

TypeProforma
After repair value$99,900
Potential profit$30,000

Gross income (annually)$23,400
Operating expenses (annually)$10,545
Net income (annually)$12,855
Gross return33.48%

Gross income (monthly)$1,950
Operating expenses (monthly)$879
Net income (monthly)$1,071
Net return18.39%

Property Income & ExpensesMonthlyAnnual

Income

Unit A: 2 bed / 1 bath$500/month$6,000/year
Unit B: 2 bed / 1 bath$500/month$6,000/year
Unit C: 1 bed / 1 bath$450/month$5,400/year
Unit D: 2 bed / 1 bath$500/month$6,000/year
Total$1,950/month$23,400/year

Expenses

Water and Sewer$100/month$1,200/year
Waste Collection$79/month$948/year
Insurance (estimated)$167/month$2,000/year
Property Taxes$185/month$2,217/year
Gas Utility Bill$150/month$1,800/year
Maintenance reserve$167/month$2,000/year
Electric bill$32/month$380/year
Total$879/month$10,545/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.