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Buy, Rent Or Rent with Option! Own This Renovated Vintage 2-flat with Monthly Payments Less That Renting One Apartment!

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3826 216th St

Matteson, IL 60443

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$224,900 $939*
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Contact this seller Multiple Family Home 4 2 2400 1925 Cook JDM8553



Front of Building looking North
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Highlights and Description

  • On the MLS! MLS ID: 07138646
  • Traditional style construction
  • 2 stories
  • Built in 1925
  • Property is on .3 acre
  • Lot size is 93 x 138
  • Boiler heating system
  • Has a cooling system
  • City provided sewer/wastewater
  • 2-car Garage (detached)
  • In the Old Matteson neighborhood
  • Part of the Matteson 162 & Rich Central HS school district
  • $2,671 estimated taxes (twice a year)
  • Average utilities: $300.00
(2) 1,200sf 2BR / 1BA apartments were totally renovated in 2009 including: new roof;  new kitchens; updated baths; refinished original woodwork throughout and hardwood floors on the 1st Fl; upgraded gas heating system and electric; freshly painted inside & out.  Full unfinished English basement & walk-up attic. 3 blocks to  Metra train station (45 min. to Chicago's Loop). Example:

                                                                Occupy 1-Apt.                        Rent 2-Apts.

Purchase Price:                                     $225,000

Down Payment: (3.5%)                               8,000

Closing Cost: (1%)                                     2,000

Total Down Pmt. + Closing Cost             10,000

Monthly Rent: Apartment 1                                                                    $1,095*

                          Garage                                                                                 200

                          Apartment 2                         995                                         995*

Total Monthly Rent                                        995                                      2,290

FHA Mortgage ($217,000)

Mo. P+I Pmt. (5%/30yrs.)                            1,165

RE Taxes + Ins.                                              500

Utilities                                                            300

Total Mtg Pmt + Exp.                                   1,965                                      1.965

Total Mo. Cash Flow                                     (970)                                        325

(*Note: Rent includes free heat, water, sewer, trash & laundry; Tenant pays electric;)
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 * Est. payment based on 20% down and a 30-year fixed rate mortgage of 4.75%

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