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$799,900

For Sale - Active
701 E Pearl St, Tremont, IL 61568
5 Beds
3 Baths
3,920 Square Feet
0.00 Acres Lot
Built in 1934
For Sale - Active
Units n/a
Checked: 8 hours ago
Updated: Aug 08, 2025 at 03:18AM

Investment Summary


Monthly Cash Flow
-$2,728
Cap Rate
1.6%
Cash-on-Cash Return
-17.8%
Debt Coverage Ratio
0.28
Internal Rate of Return (5 years)
-13.2%

Property Description


0.00 Acres Lot
Built in 1934
For Sale - Active
Units n/a

For the first time in almost 100 years, this family country estate is ready for new owners. This opportunity offers the finest in country living, nestled on six picturesque acres in Tremont and surrounded by rolling farmland. The property includes a meticulously maintained and beautifully restored 1934 farmhouse that blends modern amenities with original charm, including restored woodwork, flooring, and trim. The main floor features a chef’s kitchen with high-end appliances, a dining area, and a sunroom, while the upper level offers multiple bedrooms and bath. Home has finished basement with a living area and kitchenette. Gorgeous 3 seasons room on back. A detached garage includes a finished second floor with a kitchenette and is fully heated and cooled with multiple systems. The property also boasts a 120x40 shop building with a certified kitchen, additional shop space, and storage, as well as a 100x40 pole barn equipped with a Nelson heated livestock watering system. Outdoor highlights include a producing half-acre vineyard, fruit trees, a fenced garden, pasture, and a chicken coop. This is truly a one-of-a-kind property—be sure to review the extensive list of updates and features. Amenities include a wood burning boiler for the house and garage, solar panels, geothermal, etc. Property is located between I-155 and Tremont making it an ideal location. Some city amenities like natural gas & high speed internet with I3 Broadband. It’s a must-see that’s sure to impress.

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Location


Property Details


Parking

  • Description: Garage
  • Details: Detached, Oversized, Garage Door Opener
  • Garage Spaces: 3
  • Spaces Total: 0

Bedroom Information

  • # of Bedrooms: 5

Bathroom Information

  • # of Baths (Full): 3
  • # of Baths (Partial): 1
  • # of Baths (Total): 3.0

Interior Features

  • # of Stories: 2
  • Basement: Yes
  • Basement Description: Finished, Full, Sump Pump
  • Fireplace: Yes

Exterior Features

  • Foundation: Block
  • Roof Material: Shingle

Land Information

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

Lot Information

  • Parcel ID: 121218404010
  • Lot Size: 0 sqft

Property Information

  • Property Type: Single Family Residence
  • Year Built: 1934

Tax Information

  • Annual Tax: $3,875

Utilities

  • Water & Sewer: Private
  • Heating: Natural Gas, Wood, Forced Air, Hot Water
  • Cooling: Central Air

Location

  • County: Tazewell

Listing Details


Listed by:
Maxwell Schneider
Keller Williams Premier Realty
(309) 642-0635

Source:
RMLS Alliance
MLS#: PA1258283
RMLS Alliance

Investment Summary


Monthly Cash Flow
-$2,728
Cap Rate
1.6%
Cash-on-Cash Return
-17.8%
Debt Coverage Ratio
0.28
Internal Rate of Return (5 years)
-13.2%

Purchase Details

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Purchase price:
$799,900
Amount financed:
-$639,920
Down payment:
$159,980
Closing costs:
$23,997
Rehab costs:
$0
Initial cash invested:
$183,977
Square feet:
3,920
Cost per square foot:
$204
Monthly rent per square foot:
$0.51

Financing Details

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Loan amount:
$639,920
Loan to value ratio:
80.0%
Loan type:
Amortizing
Term:
30 years
Interest rate:
5.875%
Principal & interest:
$3,785
Property tax:
$323
Insurance:
$140
Private mortgage insurance (PMI):
$0
Monthly payment:
$4,248

Operating Income

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% Rent Monthly Yearly
Gross rent:
$2,000 $24,000
Vacancy loss: (6%)
6% -$120 -$1,440
Operating income:
$1,880 $22,560

Operating Expenses


% Rent Monthly Yearly
Property taxes: (16%)
16%-$323-$3,875
Insurance: (7%)
7%-$140-$1,680
Property management: (8%)
8%-$160-$1,920
Repairs & maintenance: (5%)
5%-$100-$1,200
Capital expenditures: (5%)
5%-$100-$1,200
HOA fees: (n/a)
n/an/an/a
Total operating expenses: (41%)
41%-$823-$9,875

Cash Flow


Monthly Yearly
Net operating income:
$1,057 $12,684
Mortgage payments:
-$3,785 -$45,420
Cash flow:
$2,728 $32,736