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Eric Marcus

[email protected] +1(773) 732-9898

$ 35,000

Est. payment -/mo

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Price Dropped by $10K

1205 Champaign AVE Mattoon, IL 61938

3 Beds

2 Baths

2,224 SqFt

UPDATED:

Key Details

Property Type Single Family Home

Sub Type Detached Single

Listing Status Active

Purchase Type For Sale

Square Footage 2,224 sqft

Price per Sqft $15

MLS Listing ID 12512361

Style Victorian

Bedrooms 3

Full Baths 2

Year Built 1891

Annual Tax Amount $1,790

Tax Year 2024

Lot Size 6,969 Sqft

Lot Dimensions 50x140

Property Sub-Type Detached Single

Property Description

Experienced Investor Opportunity - Classic Victorian with Tremendous Upside Potential Built in 1891, this charming Victorian-era home offers approximately 2,224 sq ft of living space on a 7,000 sq ft lot, situated directly across from historic Cunningham Park in Mattoon. Currently a 3-bed/2-bath, the layout has strong potential to convert to 5 bedrooms - the upstairs loft and main-level dining room can each be enclosed as additional bedrooms. Interior and exterior clean-out is complete and the property is unoccupied and ready for your renovation team to start immediately. This property is a full rehab opportunity - noted repair items include a new roof, electrical, AC, and foundation repair, among others. The spacious lot offers additional value-add opportunities including a 2-car garage, mother-in-law suite, or ADU. This property proudly carries the charm and character of its 1891 origins while offering you complete freedom to renovate, modernize, and redesign exactly to your vision - no historic preservation restrictions, no board approvals, and no red tape. This property is priced firmly at $35,000 and reflects the total investment made to date, including acquisition, cash for keys to remove prior occupants, and a fully completed extensive interior and exterior cleanout of a prior hoarder property - giving the next owner a true head start with no hidden expenses already waiting for them. Conservative ARV comes in at $175,000 based on a 3-bed/2-bath renovation alone. Adding a 4th or 5th bedroom, a 2-car garage, a mother-in-law suite, or an ADU has the potential to significantly increase the ARV beyond this estimate, creating even greater upside for the right investor. Located minutes from downtown, schools, shopping, and local amenities. Don't miss this high-upside investment opportunity.

Location

State IL

County Coles

Area Mattoon

Rooms

Basement Finished, Full

Interior

Interior Features 1st Floor Full Bath, Dining Combo

Heating None

Cooling None

Flooring Hardwood

Fireplace N

Laundry In Kitchen

Exterior

Community Features Park, Sidewalks, Street Lights

Roof Type Shake

Building

Dwelling Type Detached Single

Building Description Wood Siding, No

Sewer Other

Water Public

Level or Stories 2 Stories

Structure Type Wood Siding

New Construction false

Schools

School District 2 , 2, 2

Others

HOA Fee Include None

Ownership Fee Simple

Special Listing Condition None

Listed by Jonathan Minerick of Homecoin.com

NEARBY SCHOOLS & PROPERTIES

Eric Marcus

Broker

+1(773) 732-9898

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Chicago, IL

Eric Marcus

1205 Champaign AVE Mattoon, IL 61938

Key Details

Location

Rooms

Interior

Exterior

Building

Schools

Others

NEARBY SCHOOLS & PROPERTIES

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1205 Champaign AVE