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$304,900

For Sale - Active
1800 Mitchell St, Pekin, IL 61554
4 Beds
2 Baths
1,586 Square Feet
0.00 Acres Lot
Built in 2006
For Sale - Active
Units n/a
Checked: 1 day ago
Updated: Jul 10, 2025 at 03:02AM

Investment Summary


Monthly Cash Flow
-$560
Cap Rate
3.5%
Cash-on-Cash Return
-9.6%
Debt Coverage Ratio
0.61
Internal Rate of Return (5 years)
-5.3%

Property Description


0.00 Acres Lot
Built in 2006
For Sale - Active
Units n/a

LOVE LAKE LIVING? LOVE TO BOAT & SKI? THIS HOME IS YOUR PARADISE!! BEAUTIFUL LAKE HOME OFFERS 2 DECKS: 572' OF WRAP-AROUND & UPPER COMPOSITE DECKS, BOAT RAMP, BOAT LIFT, 3 JET SKI LIFTS, IRRIGATION PUMP, GORGEOUS LANDSCAPING...PLUS: ADORABLE MODIFIED A-FRAME DECORATED FOR BEACH LIVING...WOOD FLOORS, SNACK BAR, NEW SLIDER AND FIREPLACE!! HUGE GARAGE, TOO! HOME WARRANTY INCLUDED. PHENOMENAL LAKE LIVING! PHENOMENAL VALUE! PHENOMENAL PANORAMIC VIEWS. MASTER TUB JETS DO NOT WORK. HOME, APPLIANCES, BOAT LIFT SOLD AS IS WITH INSPECTIONS!

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Location


Property Details


Parking

  • Description: Garage
  • Details: Attached, Garage Door Opener
  • Garage Spaces: 2
  • Spaces Total: 0

Bedroom Information

  • # of Bedrooms: 4

Bathroom Information

  • # of Baths (Full): 2
  • # of Baths (Total): 2.0

Interior Features

  • Basement Description: Crawl Space
  • Fireplace: Yes

Exterior Features

  • Foundation: Block
  • Roof Material: Shingle

Land Information

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

Lot Information

  • Parcel ID: 101011211016
  • Lot Size: 0 sqft

Property Information

  • Property Type: Single Family Residence
  • Style: A-Frame
  • Year Built: 2006

Tax Information

  • Annual Tax: $2,652

Utilities

  • Water & Sewer: Public
  • Heating: Natural Gas, Forced Air
  • Cooling: Ceiling Fan(s), Central Air

Location

  • County: Tazewell

Listing Details


Listed by:
Mary Ann Ladendorf
RE/MAX Traders Unlimited
(309) 241-5610

Source:
RMLS Alliance
MLS#: PA1256929
RMLS Alliance

Investment Summary


Monthly Cash Flow
-$560
Cap Rate
3.5%
Cash-on-Cash Return
-9.6%
Debt Coverage Ratio
0.61
Internal Rate of Return (5 years)
-5.3%

Purchase Details

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Purchase price:
$304,900
Amount financed:
-$243,920
Down payment:
$60,980
Closing costs:
$9,147
Rehab costs:
$0
Initial cash invested:
$70,127
Square feet:
1,586
Cost per square foot:
$192
Monthly rent per square foot:
$1.01

Financing Details

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Loan amount:
$243,920
Loan to value ratio:
80.0%
Loan type:
Amortizing
Term:
30 years
Interest rate:
5.875%
Principal & interest:
$1,443
Property tax:
$221
Insurance:
$112
Private mortgage insurance (PMI):
$0
Monthly payment:
$1,776

Operating Income

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% Rent Monthly Yearly
Gross rent:
$1,600 $19,200
Vacancy loss: (6%)
6% -$96 -$1,152
Operating income:
$1,504 $18,048

Operating Expenses


% Rent Monthly Yearly
Property taxes: (14%)
14%-$221-$2,653
Insurance: (7%)
7%-$112-$1,344
Property management: (8%)
8%-$128-$1,536
Repairs & maintenance: (5%)
5%-$80-$960
Capital expenditures: (5%)
5%-$80-$960
HOA fees: (n/a)
n/an/an/a
Total operating expenses: (39%)
39%-$621-$7,453

Cash Flow


Monthly Yearly
Net operating income:
$883 $10,596
Mortgage payments:
-$1,443 -$17,316
Cash flow:
$560 $6,720