PINE EXTENDED STAY

19051 13th Street, Fulton, IL

22.68% return

SP: $175,000

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Property Description

INSANE OPPORTUNITY!!!

10 unit complex. 9 units in the main building and a single family. New roof, new windows, new paint. Tons of work done inside. Will rent easily for $600 per unit or $150 a week. PROPERTY WILL GENERATE 22.68%+ NET RETURN ON INVESTMENT!!! OVER $100k IN INSTANT EQUITY!!! Very nice midwestern town. Low crime and tons of upside. Easy and stable income generator.

Financing is available!!!

Property Information

Listing statusActive
Property typeMulti Family
Total units10
Total bedrooms10
Total bathrooms10
Building size3,631 sq. ft.
Lot size0.5 acres
Year built1975

CountyWhiteside County
SubdivisionMANUFACTURERS ADD
ConstructionFrame
RoofAsphalt Shingle
Water sourceWell
Water disposalSeptic
HeatingBaseboards
CoolingWall A/C

Property Financial Summary

Sale price$175,000
Estimated rehab¹$25,000
Total investment$200,000

TypeProforma
After repair value$300,000
Potential profit$100,000

Gross income (annually)$81,652
Operating expenses (annually)$36,289
Net income (annually)$45,363
Gross return40.83%

Gross income (monthly)$6,804
Operating expenses (monthly)$3,024
Net income (monthly)$3,780
Net return22.68%

Property Income & ExpensesMonthlyAnnual

Income

Apartmnets
Unit 1: studio / 1 bath$664/month$7,966/year
Unit 2: studio / 1 bath$664/month$7,966/year
Unit 3: studio / 1 bath$664/month$7,966/year
Unit 4: studio / 1 bath$664/month$7,966/year
Unit 5: studio / 1 bath$664/month$7,966/year
Unit 6: studio / 1 bath$664/month$7,966/year
Unit 7: studio / 1 bath$664/month$7,966/year
Unit 8: studio / 1 bath$664/month$7,966/year
Unit 9: studio / 1 bath$664/month$7,966/year
Single Family
Unit 10: 1 bed / 1 bath$830/month$9,958/year
Total$6,804/month$81,652/year

Expenses

Property Taxes$198/month$2,380/year
Insurance$463/month$5,557/year
Electric bill$450/month$5,400/year
Gas Utility Bill$150/month$1,800/year
Water Treatment$42/month$500/year
Maintenance reserve$417/month$5,000/year
Lawn care$150/month$1,800/year
Property Management$500/month$6,000/year
Room Sales Tax$654/month$7,852/year
Total$3,024/month$36,289/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.