This is a 3 bedroom, 1 bathroom frame home with full basement which is centrally located in Alton, IL, just North of St. Louis. The home does needs some work, but after purchase and rehab, you should be able to get 2% of your Total Acquisition Cost back Per Month in rent! It should rent at $600/mo conservatively, and it needs approximately 10-15k in rehab. Taxes are less than $900/yr. Neighborhood DescriptionThe home is located in a historic neighborhood with churches, schools, hospitals, grocery stores, and restaurants just minutes away! It's and easy walk down to Alton Marina, and also Riverfront Park and the Liberty Bank Amphitheater, which features great live music regularly including free shows! Property PotentialThis would be a good home for an owner-occupant or investor with thick skin that is willing to put a little sweat equity into the home so they can see a great return on their investment. The property has low taxes, so even if you hire a property management company and set aside 10% of gross rents per month for potential vacancy and 10% for repairs, projected Cash On Cash Return is 25%, if you put 20% down and finance the rest at 4.875%. Calculations available upon request. URGENT TIMEFRAME. Bring All Offers.
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