1036 N Rutledge St Springfield, IL 62702

This 1924 built, 3 bed / 3 bath triplex in Springfield, IL makes sense for any rental investor, even in today's changing real estate market. Already fully occupied and cash flowing!

Financials:

ARV: $115,000

Purchase Price: $75,000

Profit Details:

$115,000 ARV

(*) 94% for sale commissions

(-) $75,000 purchase price

(-) $10,000 rehab budget

(-) $5,000 closing / holding cost

(=) $18,100 profit

Rental Profit Details:

$1,850 monthly market rents

(-) $266 monthly tax

(-) $90 monthly insurance

(-) $185 property management

(-) $185 allocation for repairs, vacancy, etc

(=) $1,124 net monthly cash flow

Property Details:

3 Beds / 3 Bath

1924 Year Build

1,483 Home Square Feet

10,958 Lot Size

April 7th, 2023 Closing

Fully occupied at Close

Separate units and meters

One tenant has been acting PM, possibility to save on PM fees

No apparent issues with foundation, roof, electrical, or plumbing

Big lot with massive backyard

Large basement with laundry hookups

Some bathrooms could use updating

Individual window AC for each unit

Recent Updates:

2020 - New roof

2020 - New gutters

2022 - Some new windows

2020 - New fascia

2022 - Freshly painted interior