Home for Sale at 164 N Park Place, Decatur, IL 62522

164 N Park Place
Decatur, IL 62522

« Prev

Property Details

List Price:	$469,900
Beds:	--
Baths:	--
Status:	Active
SqFt:	9000
Agency:	Better Homes and Gardens Real Estate Service First

Map Details Show Map | Show StreetView

Description/Comments

Lot Size:	--
Property Type:	MultiFamily
Year Built:	1929
Notes:	Discover a prime investment opportunity with this multifamily property located within walking distance of Millikin University. Boasting 18-bedrooms : 16 tenant bedrooms fully furnished with queen and/or twin bed, mattress and dresser. 2 of the bedrooms with full baths used for facility director located on main floor. 4.5 tenant bathrooms-all full baths have showers and were remodeled in the last 3 years. Spread across 4 floors , this versatile property is designed for optimal functionality . The lower level features a spacious kitchen, laundry, dining room, social space, and a 1/2 bath, perfect for communal living and gatherings. Additionally, two of three other floors are equipped with convenient kitchenettes, adding flexibility to the living arrangements. With the convenience of on-site laundry facilities, this property ensures a hassle-free living experience for residents. The strategic location offers proximity to Millikin University, making it an attractive option for students seeking comfortable, nearby housing. 1st floor- 3 bedrooms, 1 of the bedrooms has ensuite, 1 shared full bath, separate 2 bedrooms for director quarters with each their own bathroom.. open social area and kitchenette 2nd floor -8 bedrooms 2 baths kitchenette and social gathering area 3rd floor- 5 bedrooms and large deck for outside social gathering key fob entry access 9 parking spaces Investors, seize the opportunity to capitalize on the growing demand for student housing in this vibrant university town. Explore the potential for consistent rental income and long-term returns with this multifamily gem. Don't miss out on this chance to make a wise investment in the heart of Decatur, located in the well sought after west end neighborhood. Schedule a viewing today and unlock the doors to a promising venture in real estate.
MlsNumber:	6230134

Listing Provided By:	Better Homes and Gardens Real Estate Service First, original listing
Name:	Better Homes and Gardens Real Estate Service First
Phone:	(217) 450-8500
Office Name:	Better Homes and Gardens Real Estate Service
Office Phone:	(217) 450-8500
Agent Name:	Tonya Feller
Disclaimer:	Copyright Â© 2024 Better Homes and Gardens Real Estate. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

HUD Foreclosures

HUD foreclosures and VA Foreclosures are some of the best homes to buy when price is part of the equation. As with most Americans, price is always a concern. If not buying the same house for less, why not buy more house for the same dollar invested? When looking for a good deal it is hard to do better than the VA or HUD foreclosures market. The simple truth is that there are just more VA and HUD homes on the market, as they represent such a large number of mortgages that are generated each year. This translates into more foreclosures just by the magnitude of difference between all others comparing to the two largest.

The two largest also being government owned and operated means that they have less time to wait to make money back on the home. The FHA is especially known for selling HUD homes for less than the average sales price in a given area. FHA foreclosures represent a fraction of HUD but they are still a significant number of homes and both should be considered.

VA (Veterans Administration) and HUD (Housing and Urban Development) have different and unique opportunities for the buyer. Both are often forgiven for the local taxes normally associated with the purchase of a home (this is on a county by county basis). Be sure to ask the local title company or escrow company to look into it for you before closing as this is often missed due to their are not used to dealing with the 2 to 3 percent of the market that VA and HUD foreclosures represent.

Free Foreclosure Listings

USHUD.com is a website that simplifies the process of finding foreclosures and HUD properties. Everyone thinks they are a real estate web surfing pro until they search for foreclosure homes and stumble upon a numerous sites that want to charge a fee to see their listings. With USHUD.com that’s not the case. When searching for HUD properties or a home finding website for foreclosure it is important to know what you are looking for. It is important to use a niche company that specializes in foreclosures like USHUD.com. We have put together 2 tools that have made the real estate search process of our website much easier to navigate. The Homesearch online tool is filled with foreclosure lists and free listings of hud homes for sale. Most of our users start with a broad search with the homesearch online tool to see the most HUD properties and foreclosure lists in your area and narrow their search down with the Homefinder online tool. The homefinder online tool is a custom filter system that we breakdown the area based upon filters such as convention and foreclosure listings. This give you the option to filter out conventional listings and focus on just the foreclosures in the market. We thank you for making us Americas top home finding website for foreclosure and Hud properties. Free listings of hud homes for sale are hard to come by but should always be free and that’s the way things are going to stay on our website.

Foreclosure Listings Increasing

As the market settled after the mortgage meltdown foreclosure listings also settled and fewer homes were on the market with a placard reading “Bank Foreclosure” in big red lettering. This was a good thing for the entire real estate market. Having an abundance of foreclosures brings the entire market down and it makes it harder for home owners, who would like to move, to get the appropriate price for their home as a similar home down the same street was sold for substantially less and the appraiser is using the foreclosure as a comparable sale.

This is just one of the problems when there are too many foreclosure listings in any area. Another issue is the television set that sits in everyone’s living room harping about the price of homes based on the number of foreclosures and this constant barrage of negative information makes most people sit on the sidelines waiting for the market to either implode completely or to correct itself. Meanwhile while they wait, others are buying foreclosure listings and making great investments.

Whatever the reason, a market can only handle so many foreclosure listings at any given time. The more foreclosures, the lower the market gets and this is a lesson the banks that were foreclosing and selling off realized too late. The market and their investments would have been better off if there had not been a rush to divest themselves of the toxic assets made more toxic by their own actions.

USHUD.com is a private company not affiliated or associated with or endorsed, authorized, approved, sponsored
or licensed by the US Department of Housing and Urban Development

USHUD.com is an Equal Housing Opportunity

- Pat. 7,813,958 - Pat. 7,958,007 - Pat. 8,046,258 - Pat. 8,073,737 - Pat. 8,190,476 - Pat. 8,195,514
- Pat. 8,306,856 - Pat. 8,412,576 - Pat. 8,510,165 - Pat. 8,825,527 -