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1217 Market St - Cash Cow Triplex 3 Unit Apartment Building Offered at $119,900 at a 20.83% Cap Rate Madison, IL 62060
Executive Summary
INSANE OPPORTUNITY!!!
3 units. 2 x 2bed/1bath units and 1 x studio apartment. Front units are freshly rehabbed and rent ready. Back studio needs TLC. New central HVAC systems installed last year. PROPERTY WILL GENERATE A 22%+ NET RETURN ON INVESTMENT!! $30k IN INSTANT EQUITY!!! Front units rent easily for $1000 each, and back unit rents easily for $700.
Property management and financing is available!!
3 units. 2 x 2bed/1bath units and 1 x studio apartment. Front units are freshly rehabbed and rent ready. Back studio needs TLC. New central HVAC systems installed last year. PROPERTY WILL GENERATE A 22%+ NET RETURN ON INVESTMENT!! $30k IN INSTANT EQUITY!!! Front units rent easily for $1000 each, and back unit rents easily for $700.
Property management and financing is available!!
Financial Summary (Pro Forma - 2026) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$32,400
|
$17.14
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$32,400
|
$17.14
|
| Taxes |
$1,886
|
$1.00
|
| Operating Expenses |
$3,462
|
$1.83
|
| Total Expenses |
$5,348
|
$2.83
|
| Net Operating Income |
$27,052
|
$14.31
|
Financial Summary (Pro Forma - 2026)
| Gross Rental Income | |
|---|---|
| Annual | $32,400 |
| Annual Per SF | $17.14 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $32,400 |
| Annual Per SF | $17.14 |
| Taxes | |
|---|---|
| Annual | $1,886 |
| Annual Per SF | $1.00 |
| Operating Expenses | |
|---|---|
| Annual | $3,462 |
| Annual Per SF | $1.83 |
| Total Expenses | |
|---|---|
| Annual | $5,348 |
| Annual Per SF | $2.83 |
| Net Operating Income | |
|---|---|
| Annual | $27,052 |
| Annual Per SF | $14.31 |
Property Facts
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 1 | $700.00 | - |
| 2+1 | 2 | $1,000 | - |
1 1
Somewhat walkable
30/100
Very drivable
80/100
Limited public transit
30/100
Fairly bikeable
40/100
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1217 Market St - Cash Cow Triplex
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