495 W 1st Street
Property Description
Charming Rush City home with an additional $1,000 per month rental income! A charming property in the heart of Rush City, offering a unique opportunity to own a home with an attached, income-producing rental apartment generating $1,000 per month through an existing County HRA housing contract-that's $12,000 annually! This dependable and established rental income could help offset your mortgage payment, reduce monthly housing expenses, and make homeownership more affordable. The main residence is a charming 1.5-story home featuring 2 bedrooms and 1 bathroom, with the potential for convenient living. The inviting, open layout offers comfortable living space and plenty of opportunity to personalize the home to your taste. A connecting breezeway adds to the property's distinctive layout. The attached rental apartment features its own private entrance, kitchen, bathroom, bedroom, living room and laundry area) providing a separate, self-contained living space with privacy and independence from the main residence. Currently occupied by a tenant under a Section 8 housing arrangement, the apartment generates $1,000 per month in rental income. The existing County HRA (Housing and Redevelopment Authority) rental arrangement can continue with a new owner, subject to applicable program requirements, providing an attractive opportunity to receive rental income while living in the main residence. Several updates have already been completed in the main residence, including 13 new energy- efficient, argon-filled, double-pane replacement windows, providing improved insulation, comfort, and potential heating-cost savings. Fresh interior paint gives the home a welcoming appearance and a great head start for future decorating. Location adds even more appeal! Situated in the heart of Rush City, the property is within walking distance of downtown, the city water park, and local schools and sporting events. Convenient freeway access makes commuting to work and surrounding communities easy. Whether you're looking for a comfortable personal residence with supplemental rental income, an investment opportunity, or a property with room to build equity, this Rush City home offers an attractive combination of affordability, flexibility, and income potential. Enjoy living in the main residence while receiving $12,000 annually in rental income from the attached apartment under the existing Section 8 housing arrangement!
Broker Details
CENTURY 21 Moline Realty, Inc. (763) 689-3593
MLS ID: 53775
Key Property Information
| Listing Status: | Available |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | Apartment Buildings |
| Price: | $289,900 |
| Year Built: | 1948 |
| Lot Size: | 1,823.00 Sq ft |
| Opportunity Zone: | No |
| Property Website | Click Here |
| Number of Bedrooms: | 4 |
| Number of Bathrooms: | 3 |
ID: 3yd-RMLSMN-7152024
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