187 Goulding Street, East Alton, IL

17.08% return

SP: $79,900

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Property Description

GREAT INVESTMENT!!! Duplex and single family, total of 3 units. Fully rented, long term tenants.. Separate electric, water and gas meters, no utility expenses! Close to a big city!!! CHEAP TO MAINTAIN!!! PROPERTY WILL GENERATE A GREAT NET RETURN ON INVESTMENT!!! OVER $15K IN VALUE ADD!!! Do not miss out on this investment opportunity.

Property Information

Listing statusActive
Property typeMixed (2 properties)
Total units3
Total bedrooms5
Total bathrooms3
Building size1,992 sq. ft.
Lot size0.2 acres
Year built1920

CountyMadison County
SubdivisionALTWOOD
ConstructionFrame
RoofAsphalt Shingle
Water sourceCity water
Water disposalSewer
HeatingBaseboards
CoolingWindow A/C

Property Financial Summary

Sale price$79,900
Estimated rehab¹$5,000
Total investment$84,900

TypeActual
After repair value$99,900
Potential profit$15,000

Gross income (annually)$19,200
Operating expenses (annually)$4,700
Net income (annually)$14,500
Gross return22.61%

Gross income (monthly)$1,600
Operating expenses (monthly)$392
Net income (monthly)$1,208
Net return17.08%

Property Income & ExpensesMonthlyAnnual

Income

187 Goulding Street, Main
Unit A: 2 bed / 1 bath$500/month$6,000/year
Unit B: 1 bed / 1 bath$500/month$6,000/year
332 South Pence Street
2 bed / 1 bath$600/month$7,200/year
Total$1,600/month$19,200/year

Expenses

Property Taxes$125/month$1,500/year
Insurance (estimated)$100/month$1,200/year
Maintenance reserve$67/month$800/year
Lawn care$100/month$1,200/year
Total$392/month$4,700/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.