105 Timberlake
Property Description
Outstanding investment opportunity in Damiansville, Illinois - 105 & 107 Timberlake Drive delivers immediate, day-one cash flow in a quiet, established community just minutes from Breese and the I-64 corridor. This meticulously maintained duplex features two spacious 2-bedroom, 2-bathroom units, each with a partially finished basement - providing tenants with valuable extra living and storage space that sets this property apart from typical rental inventory and fuels long-term occupancy. This property has never had a vacancy. Zero. The owner's commitment to maintenance, management, and tenant relationships speaks for itself - and it shows in the numbers. Both units are currently occupied at rents that are meaningfully below today's market rate, with comparable 2-bedroom, 2-bathroom units in the area leasing for $1,400/month. At current rents of $1,350 and $1,200/month, a buyer acquires immediate cash flow while sitting on significant upside - bringing both sides to market rate adds over $5,400/year in gross income at the next lease renewal. At the current asking price of $329,000 with in-place rents, the property produces a solid cap rate with strong DSCR that satisfies commercial lending requirements - and that story only gets better as rents normalize to market. The partially finished basements on each side represent an additional value-add opportunity for a buyer willing to invest modest finish dollars in exchange for a premium rent bump. Pride of ownership is evident throughout this property. If you are looking for a stabilized, low-maintenance, income-producing duplex in a growing Clinton County community with a proven track record and room to grow, 105 & 107 Timberlake Drive is exactly what you have been waiting for. Priced at $329,000. Do not disturb tenants - call the listing agent to schedule a showing.Broker Details
Real Broker, LLC (855) 450-0442
MLS ID: DREVERMA State License Number: 475.179348
Key Property Information
| Listing Status: | Under Contract |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | Apartment Buildings |
| Price: | $329,000 |
| Year Built: | 2003 |
| Lot Size: | 2,300.00 Sq ft |
| Opportunity Zone: | No |
| Property Website | Click Here |
| Number of Bedrooms: | 4 |
| Number of Bathrooms: | 4 |
ID: 3yd-MARISMO-26049411
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