846 North Main Street, Jacksonville, IL
19.42% return
SP:
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Property Description

RENTAL PACKAGE!!! 

10 x 2bed/1.5bath units on one parcel, 6 x 2bed/1bath and 3bed/1bath house on other parcel. Total of 17 units. Property needs TLC and a new owner. Separate electric, water and gas meters. 40 minutes away from Springfield, IL, state capital! PROPERTY WILL GENERATE A 19%+ NET RETURN ON INVESTMENT!!! $75K IN VALUE ADD!!! Beautiful town, nice tenants!!! UNITS ARE RENTING FOR $750 EACH IN AS IS CONDITION. 

Professional management and financing is available!!! 

Property Information

  • Listing statusActive
  • Property typeMulti Family (2 properties)
  • Total units17
  • Total bedrooms35
  • Total bathrooms22
  • Building size16819 sq. ft.
  • Lot size1.1 acres
  • Year built1950 - 1978
  • CountyMorgan County
  • SubdivisionSPENCER TAYLOR
  • ConstructionBrick, Frame
  • RoofAsphalt Shingle
  • Water sourceCity water
  • Water disposalSewer
  • HeatingCentral
  • CoolingCentral

Property Financial Summary

  • Sale price$525,000
  • Estimated rehab1$100,000
  • Total investment$625,000
  • TypeProforma
  • After repair value$650,000
  • Potential profit$25,000
  • Gross income (annually)$153,600
  • Operating expenses (annually)$32,245
  • Net income (annually)$121,355
  • Gross return24.58%
  • Gross income (monthly)$12,800
  • Operating expenses (monthly)$2,687
  • Net income (monthly)$10,113
  • Net return19.42%

Property Income & Expenses

  • Income
  • 504 North Church Street, 6 units
  • Unit 1: 2 bed / 1 bath$700/month$8,400/year
  • Unit 2: 2 bed / 1 bath$700/month$8,400/year
  • Unit 3: 2 bed / 1 bath$700/month$8,400/year
  • Unit 4: 2 bed / 1 bath$700/month$8,400/year
  • Unit 5: 2 bed / 1 bath$700/month$8,400/year
  • Unit 6: 2 bed / 1 bath$700/month$8,400/year
  • 504 North Church Street, House
  • Unit 406: 3 bed / 1 bath$1,100/month$13,200/year
  • 846 North Main Street, 4 units
  • Unit G: 2 bed / 1.5 bath$750/month$9,000/year
  • Unit H: 2 bed / 1.5 bath$750/month$9,000/year
  • Unit I: 2 bed / 1.5 bath$750/month$9,000/year
  • Unit J: 2 bed / 1.5 bath$750/month$9,000/year
  • 846 North Main Street, 6 units
  • Unit A: 2 bed / 1.5 bath$750/month$9,000/year
  • Unit B: 2 bed / 1.5 bath$750/month$9,000/year
  • Unit C: 2 bed / 1.5 bath$750/month$9,000/year
  • Unit D: 2 bed / 1.5 bath$750/month$9,000/year
  • Unit E: 2 bed / 1.5 bath$750/month$9,000/year
  • Unit F: 2 bed / 1.5 bath$750/month$9,000/year
  • Total$12,800/month$153,600/year
  • Expenses
  • Property Taxes$625/month$7,495/year
  • Insurance (estimated)$496/month$5,950/year
  • Maintenance reserve$1,167/month$14,000/year
  • Lawn care$200/month$2,400/year
  • Water and Sewer$200/month$2,400/year
  • Total$2,687/month$32,245/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.

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