- List Price $1,950,000
- Price / Unit $88,636
- Property Type Multifamily
- Units 22
- Current Rents $246,840
- Pro Forma Rents $293,400
- In Place NOI $142,053
- Projected NOI $183,737
- Target CAP Rate 7.3%
- Market CAP Rate 6.5%
- Today's Market Value $2,140,000
- Value w/Market Rents $2,830,000
*Today’s Market Value & Value w/Market Rents is a theoretical value calculation derived by NOI and CAP rate. It does not take any other property factors into account.
- 52
- 22
- 14840
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- 100%
- 22
- 2
- Varies
- Varies
- In Unit, Free
52
22
14840
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- 100%
- 52
- 2
- Varies
- Varies
- In Unit, Free
About the property
Presenting an extraordinary investment opportunity in DeKalb, this 22-unit property consisting of 3 meticulously maintained Brick buildings (8 unit, 6 unit & 8 unit each). Exteriors has been well maintained boasting recent window replacements in all buildings within the last 5 years. The roofs are currently in good shape. Furthermore, ALL roofs are slated to replaced in 2024! Interior units are in great shape, spacious & rental ready. 2 of 3 buildings boast INDIVIDUAL WASHER/DRYER sets in each unit (3rd building has 1 set of Laundry in common areas). All buildings run efficiently having separate electric meters & gas meters. 2 of 3 buildings have electric baseboard heating systems with the 3rd building running of gas heated water-baseboards. All units present a valuable opportunity for rent increases and come with more than one parking spot per unit. Notably, the owner has additional buildings for sale in the same area that can be packaged together, expanding the potential for a comprehensive investment portfolio. Explore this lucrative property today and capitalize on the chance to contribute to DeKalb’s thriving community.
About the neighbourhood
- Embrace the epitome of modern living in DeKalb, Illinois, where small-town charm meets contemporary convenience. Positioned for excellence, this 105-unit property rests at the heart of a city enriched by its history, propelled by its educational prominence as home to Northern Illinois University, and embraced by a close-knit community that thrives on cultural events and recreational pursuits. Seamless connectivity, a tapestry of local amenities including diverse dining and shopping options, and the allure of nearby natural wonders make this property an irresistible investment. With a finger on the pulse of DeKalb's economic stability, educational magnetism, and vibrant spirit, seize the opportunity to partake in both a flourishing real estate endeavor and the essence of a dynamic Midwestern lifestyle.
Municipality - Investor Guide
Dekalb
| Transfer Stamps | Pre Sale Inspection | Yearly Rental Inspection | |
|---|---|---|---|
| Buyer: N/A | Cost: - | Required: No | Required: NO |
| Seller: N/A | Cost: - | Cost: $0 | Cost: $0 |
| Notes | |||
| Final water read needs to be ordered and balance paid prior to closing. | |||
For a list of all Municipality requirements visit our Municipality Requirements Page
Property Documents
Property Financials
View current and future return metrics based on customizable inputs. "Annual Net Income", "Monthly Cash Flow", "Cash on Cash Return", "Equity Value", and "Equity Multiple" are based off of the "Year 2 Pro Forma" column inputs.
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Mortgage Calculator
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Utility Table
Total Yearly Utitlity Cost: $19,855.00
*This Utility Table does not include snow removal or lawn care costs, if any. For more details on snow/lawn expenses, see the "Expenses" attachment located under the "Property Documents" section.
Property Taxes
| 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|
| Tax Amount | $0.00 | $63,583.44 | $115,606.23 | $95,351.49 |
| YOY Tax Change ($) | -$63,583.44 | -$52,022.79 | +$20,254.74 | +$9,355.41 |
| YOY Tax Change (%) | -100.00% | -45.00% | +21.24% | +10.88% |
| Current Assessed Value | $623,022 | Source - Public Record For more information on assessments, property taxes, and tax appeals visit: Property Taxes | Assessed - Land | $82,056 | Assessed - Improved | $540,966 |
For more information on assessments, property taxes, and tax appeals visit: Property Taxes
Walkscore
Nearby
- Arts & Entertainment
-
University Plaza Apartments (0.47 mi)
-
Little Lambs Preschool of Immanuel Lutheran Church (0.56 mi)
-
Timbercrest Apartments (0.63 mi)
- Education
-
Hanlon Child Care (0.2 mi)
-
Immanuel Lutheran Church & Student Center (0.56 mi)
-
Krause E George Rev (0.56 mi)
- Food
-
Tequila Road House (0.21 mi)
-
Burritoville (0.22 mi)
-
7-Eleven (0.24 mi)
- Health & Medical
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Sauk Medical Clinic (0.21 mi)
-
McCoy James W DC (0.33 mi)
-
Ramanathan P R MD (0.47 mi)
Contact Information
- List Price $1,950,000
- Property Type Multifamily
- Current Rents $246,840
- In Place NOI $142,053
- Target CAP Rate 7.3%
- Today's Market Value $2,140,000
- Price / Unit $88,636
- Units 22
- Pro Forma Rents $293,400
- Projected NOI $183,737
- Market CAP Rate 6.5%
- Value w/Market Rents $2,830,000
*Today’s Market Value & Value w/Market Rents is a theoretical value calculation derived by NOI and CAP rate. It does not take any other property factors into account.
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