300 Cobb Street, East Alton, IL

16.08% return

SP: $94,900

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Property Description

TURNKEY DUPLEX!!!

Perfect investment property for a first time investor!!! Unit 1 is rented at $800 and unit 2 is rented at $850. Great tenants. All utilities are paid by the residents. PROPERTY IS GENERATING A 16%+ NET RETURN ON INVESTMENT!!!! No deferred maintenance. Located 30 minutes away from St Louis International Airport. Will not last!!!!

Property management and financing is available.

Property Information

Listing statusActive
Property typeMulti Family
Total units2
Total bedrooms3
Total bathrooms2
Building size1,425 sq. ft.
Lot size0.2 acres
Year built1942

CountyMadison County
SubdivisionVan Preters Addn
ConstructionFrame
RoofAsphalt Shingle
Water sourceCity water
Water disposalSewer
HeatingGas
CoolingWindow A/C

Property Financial Summary

Sale price$94,900
Estimated rehab¹$0
Total investment$94,900

TypeActual

Gross income (annually)$19,800
Operating expenses (annually)$4,544
Net income (annually)$15,256
Gross return20.86%

Gross income (monthly)$1,650
Operating expenses (monthly)$379
Net income (monthly)$1,271
Net return16.08%

Property Income & ExpensesMonthlyAnnual

Income

Unit 1: 1 bed / 1 bath$800/month$9,600/year
Unit 2: 2 bed / 1 bath$850/month$10,200/year
Total$1,650/month$19,800/year

Expenses

Property Taxes$154/month$1,844/year
Maintenance reserve$83/month$1,000/year
Insurance (estimated)$142/month$1,700/year
Total$379/month$4,544/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.