609 - 611 S 10th St. Quincy, IL. 62301: 4 Unit Residential Building - 4 × 1/1's
$185,000 Ask
$25,800 Gross Income, $5,600 Expenses, $20,800 Net.
Broker owned. Not listed.
Rent Roll: Current Income Potential
609
$575
609 1/2
$550
611
$475
611 1/2
$550
Garage (storage)
$600 / year
Financial Overview: Expenses and Responsibilities
$1,927.84
Taxes
$1,264
Insurance
$1,440
Water (annual)
Investment Summary: Asking Price and Returns
$26.4K
Annual Income
Total yearly rental income including garage storage
$185K
Asking Price
Purchase price for the property
14.3%
Gross Yield
Before operating expenses
The property generates $26,400 in annual gross income from its four residential units ($25,800) and garage storage ($600). At the asking price of $185,000, this represents a gross yield of 14.3% before operating expenses.
With proper management and potential for rent increases, this property presents an attractive investment opportunity in a stable Quincy neighborhood.
Financial Analysis: Income & Expenses
Analysis of annual financial performance based on current rental income and estimated operating expenses:

1

2

3

4

1

Gross Annual Income
$26,400 ($25,800 from units + $600 garage)

2

Operating Expenses
$5,600 (taxes, insurance, water)

3

Net Operating Income
$20,800

4

Cap Rate
11.2%
Property generates $25,800 from residential units and $600 from garage storage annually. Total expenses of $5,600 include property taxes ($2,800), insurance ($1,600), and water ($1,200). Based on the asking price of $185,000, this yields an attractive 11.2% capitalization rate.
Property Features:

Exterior
Two-story brick building

Outdoor Space
Decks/Porches for each unit

Accessibility
Hallway access for each unit

HVAC
Central air for each unit

Quiet southside neighborhood
Between Ohio & Payson Ave.

Garage
Rented @ $600 / year for storage
Tenant Responsibilities: Gas & Electric
Gas
Electric
Financing Options: Secure Your Investment

1

2

1

30-Year Debt
5.85% interest rate

2

Seller Financing
Flexible terms available for qualified Buyer
Spencer Schelp
Phone
217.823.3110
License
IL Licensed Broker