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$59,900 / 2br - Two Mobile Homes on One Lot - 2809 & 2811 Hoover Ave - $59,900 (Springfield, IL)
2809 Hoover Ave, Springfield, IL 62702
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BOTH units will be empty by December — 2809 is vacant now, and 2811's tenant is leaving at the end of November. Perfect for:
- Live in one, rent the other — let the rent help pay the mortgage
- Family setup — you in one home, kids or Mom in the other
- Rent both out again — two income streams
- Expand — add a third home on the unzoned lot
Utilities: tenants pay electric and gas; landlord pays water and trash.
Recent improvements: new subfloor and flooring in 2811 bedroom, new subfloor in 2811 hallway, new subfloor throughout 2809 (except bathroom), new kitchen cabinet (2809), new ovens in both homes, new fridge/freezer (2811), new sections of sewer line toward the road.
Please note: the homes do need some work, including some floor soft spots. A full list of the work needed is available on request.
Financials (fully rented at prior rents $900 + $750): gross income $19,800/yr, expenses $5,832/yr, NOI $13,968 — about a 23% cap rate at asking. Buyer's agents welcome.