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307 N 5th Avenue, Kankakee, IL 60901

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For Sale

$59,999

4 beds

Estimated Payment

$      /mo. †

APR for 30 years

Change Loan Terms

  • Multi-Family Home
    Property type

  • 1900
    Year built

Explore this Property

Welcome to 307 and 309 North 5th Avenue in Kankakee, Illinois. This two-unit property presents an opportunity for savvy investors willing to roll up their sleeves and unlock its full potential. With a little rehab and sweat equity, each unit can become a lucrative source of cash flow. Boasting two bedrooms and one and a half bathrooms in each unit, the layout is tailored for rental investment purposes. One unit enjoys exclusive access to the entire basement, adding to its appeal for tenants seeking additional space. While this property isn't turnkey, its underlying value is undeniable. Priced at $40,000 per unit, it offers significant upside potential. Comparable units in the area command rents ranging from $900 to $1,100, indicating promising returns on investment. It's important to note that this is a tax deed sale, and as such, the property must remain on the market for seven days before considering any offers. With a strategic approach to repair and maintenance, this property holds the promise of long-term profitability for discerning investors.
MLS# 12011465

Courtesy Of Coldwell Banker Bradley

(815) 933-9700

Property Features

  • Sewer
    Public
  • Style
    Other Style
  • Water
    City Water

Map and Directions

Directions to 307 N 5th Avenue, Kankakee, IL 60901

Home seller CENTURY 21 Circle

Get to know the neighborhood. A local affiliated CENTURY 21 office will help you set up tours, give advice, and negotiate with sellers.

CENTURY 21 Circle

(708) 361-0800
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This information is provided for general informational purposes only and should not be relied on in making any home-buying decisions. School information does not guarantee enrollment. Contact a local real estate professional or the school district(s) for current information on schools. This information is not intended for use in determining a person's eligibility to attend a school or to use or benefit from other city, town or local services.

† Based on a 30-year fixed rate of 3.38% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Interest rates are also subject to credit and property approval based on secondary market guidelines. The rates shown are based on average rates for our best qualified customers. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.

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