1 Dora DR Active Save Request In-Person Tour Request Virtual Tour
East St Louis,IL 62206
Key Details
Property Type Single Family Home
Sub Type Residential
Listing Status Active
Purchase Type For Sale
Square Footage 816 sqft
Price per Sqft $55
Subdivision City View Place Sub
MLS Listing ID 24045832
Style Bungalow / Cottage
Bedrooms 3
Full Baths 1
Year Built 1955
Building Age 69
Lot Size 6,534 Sqft
Property Description
Seize the opportunity to purchase a tenant-occupied property guaranteeing immediate rental income! The property has been tenant occupied since June 2020, ensuring stability and peace of mind. The current annual lease provides a steady monthly rental income of $750. Key Investment Highlights: reliable lease in place until June 2025, low vacancy rate demonstrates tenant satisfaction, operating expenses are $3644 which yeilds an impressive CAP Rate of 9.9%. 10% vacancy rate factored into Cap Rate. Tenant pays all utilities, gas, electric, water, sewer, and trash, reducing landlord expenses. This property not only provides a reliable income stream but also offers excellent potential for increased income as current rent is below market. The low annual expenses and a strong CAP rate makes the decision easy. What are you waiting for? This investment is designed to maximize your returns by adding an asset producing property to your portfolio!
Location
State IL
County St Clair-il
Interior
Heating Forced Air
Cooling Electric
Exterior
Garage false
Waterfront false
Building
Lot Description Corner Lot,Level Lot
Story 1
Sewer Public Sewer
Water Public
Structure Type Frame,Vinyl Siding
Schools
Elementary Schools Cahokia Dist 187
Middle Schools Cahokia Dist 187
High Schools Cahokia
School District Cahokia Dist 187
Others
Acceptable Financing Cash Only,Conventional,Exchange,RRM/ARM
Listing Terms Cash Only,Conventional,Exchange,RRM/ARM
Special Listing Condition No Exemptions,None