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$150,000

For Sale - Active
14 N 38th St, Belleville, IL 62226
2 Beds
1 Bath
1,029 Square Feet
0.11 Acres Lot
Built in 1918
For Sale - Active
Units n/a
Checked: 15 hours ago
Updated: Jul 18, 2025 at 04:58AM

Investment Summary


Monthly Cash Flow
-$13
Cap Rate
5.6%
Cash-on-Cash Return
-0.5%
Debt Coverage Ratio
0.98
Internal Rate of Return (5 years)
3.6%

Property Description


0.11 Acres Lot
Built in 1918
For Sale - Active
Units n/a

Do not miss this opportunity. The interior has been completely renovated; the floor plan has been opened, and all interior walls are newly plastered. Main floors feature new luxury vinyl plank flooring. The kitchen has been updated cabinetry, counter tops, refrigerator and gas range. Interior doors and trim are new, along with a remodeled bathroom (excluding the tub) and main floor laundry. The property also boasts new exterior doors and windows, updated electrical service, plumbing lines, a tankless water heater, gas lines, ductwork, and HVAC. The lower level provides additional space to meet your needs. The front of the home welcomes you with a covered porch ideal for relaxation, while the rear features a patio perfect for entertaining, along with a level, fenced yard. There is rear alley access to the garage and additional parking. The location offers convenience to shopping, restaurants, bus services, Metro, and highways, ensuring an easy commute to Scott Air Force Base and St. Louis.

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Location


Property Details


Parking

  • Description: Detached, Rear/Side Entry
  • Details: Alley Access, Off Street
  • Garage Spaces: 0
  • Spaces Total: 0

Bedroom Information

  • # of Bedrooms: 2

Bathroom Information

  • # of Baths (Full): 1
  • # of Baths (Partial): 1
  • # of Baths (Total): 1.0

Interior Features

  • # of Rooms: 5

Land Information

  • Land Use: Residential
  • Land Use Subtype: Single Family Residential

Lot Information

  • Parcel ID: 08170118099
  • Lot Size: 4792 sqft

Property Information

  • Property Type: Single Family Residence
  • Style: Traditional
  • Year Built: 1918

Tax Information

  • Annual Tax: $2,402

Utilities

  • Heating: Forced Air, Natural Gas
  • Cooling: Central Air, Electric

Location

  • County: St. Clair

Listing Details


Listed by:
Charlene Brennan
Strano & Associates
(618) 691-9120

Source:
MARIS MLS
MLS#: 25027147
MARIS MLS

Investment Summary


Monthly Cash Flow
-$13
Cap Rate
5.6%
Cash-on-Cash Return
-0.5%
Debt Coverage Ratio
0.98
Internal Rate of Return (5 years)
3.6%

Purchase Details

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Purchase price:
$150,000
Amount financed:
-$120,000
Down payment:
$30,000
Closing costs:
$4,500
Rehab costs:
$0
Initial cash invested:
$34,500
Square feet:
1,029
Cost per square foot:
$146
Monthly rent per square foot:
$1.26

Financing Details

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Loan amount:
$120,000
Loan to value ratio:
80.0%
Loan type:
Amortizing
Term:
30 years
Interest rate:
5.875%
Principal & interest:
$710
Property tax:
$200
Insurance:
$91
Private mortgage insurance (PMI):
$0
Monthly payment:
$1,001

Operating Income

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% Rent Monthly Yearly
Gross rent:
$1,300 $15,600
Vacancy loss: (6%)
6% -$78 -$936
Operating income:
$1,222 $14,664

Operating Expenses


% Rent Monthly Yearly
Property taxes: (15%)
15%-$200-$2,402
Insurance: (7%)
7%-$91-$1,092
Property management: (8%)
8%-$104-$1,248
Repairs & maintenance: (5%)
5%-$65-$780
Capital expenditures: (5%)
5%-$65-$780
HOA fees: (n/a)
n/an/an/a
Total operating expenses: (40%)
40%-$525-$6,302

Cash Flow


Monthly Yearly
Net operating income:
$697 $8,364
Mortgage payments:
-$710 -$8,520
Cash flow:
$13 $156