Jeff Wehr
- Buy
- Sell
https://www.ruhlmortgage.com/ChrisSchneider.html
Description
Excellent investment opportunity in the heart of Philo! This income-producing property offers over 2,000 square feet and has been successfully operated as a duplex for many years. Currently configured as two 2-bedroom, 1-bath units, the home also offers the potential to be converted back into a single-family residence by reopening the interior staircase to the second floor. The upper unit, accessed by a private exterior staircase, features updated paint, an updated bathroom, and an updated kitchen area, while the spacious main-level unit is occupied by long-term tenants. A shared laundry area is located in the basement, and both residential leases extend through April 2027, providing immediate rental income. Additional income is generated by a detached 3-car garage and a separate 1-car garage, both currently leased as storage units. The property features an updated septic system with city water service, a roof replaced by the current owner, separately metered electric service, shared water and gas that are billed back to the tenants, a large welcoming front porch, rear tenant parking, and a common outdoor area perfect for relaxing or grilling. Being sold as is, this handyman special offers outstanding investment potential with multiple possibilities in a desirable small-town community.
Property Highlights
Property Type: Residential - Single Family
Total Living Area SF: 2,000
Garage Size: 4
Built in 1880
Elementary School: Unity East Elementary School
High School: Unity High School
Middle School: Unity Junior High School
General Information
Bedrooms: 4
Bathrooms: 2
Sqft: 2,000
County: Champaign
High School: Unity High School
Subdivision: Orig Town of Philo
Listed By:
Green Street Realty
MRED MLS
MLS ID: 12717006
Room Information
Bedroom 2: 14X11
Bedroom 3: 14X15
Bedroom 4: 14X11
Dining Room: 15X15
Family Room: 15X15
Kitchen: 12X14
Living Room: 13X15
Primary Bedroom: 15X13
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109 W Madison Street , Philo, IL 61864.
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| Loan Type | 30 Year Fixed | FHA 30 Year Fixed | 15 Year Fixed |
| Purchase Price | $170,000 | $170,000 | $170,000 |
| Down Payment | $34,000 | $5,950 | $42,500 |
| Monthly Mortgage Amount | $860 | $1,041 | $1,067 |
| Taxes | $237 | $237 | $237 |
| Insurance | $100 | $100 | $100 |
| HOA/Dues/Fees | $0 | $0 | $0 |
| Monthly Mortage Insurance | $0 | $75 | $0 |
| Monthly Estimated Total | $1,197 | $1,453 | $1,404 |
Jeff Wehr
REALTOR®
Office: (563) 441-5062
Cell: (563) 320-2298
Licensed in IA & IL
Bettendorf Office
1228 Middle Road
Bettendorf, IA 52722
(563) 441-5000
Bettendorf, IA 52722
(563) 441-5000
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