Located in Crete, Illinois, this single-family frame home, built in 1950, offers 4 bedrooms, 1 bathroom, and 1,297 square feet of living space on a 7,850 square foot lot. The property has no basement and is currently vacant. It will be delivered vacant at closing.

Financial Snapshot

The property is offered at a marketing price of $97,500. The projected after-repair value (ARV) is $185,000, supported by recent comparable sales in the neighborhood:

• 660 1st St, Crete, IL 60417 – Clean (Not Renovated 3/1), sold for $205,000 (06/20/2025)

Estimated rental income is $2,450 per month, with annual property taxes of $4,096.

Property Overview

This four-bedroom, one-bathroom home is a full renovation project and represents a strong value-add opportunity. The interior is very outdated and will require significant updates throughout, making it well-suited for a buy-and-hold investor rather than a quick fix-and-flip strategy. Once rehabbed, the property’s layout and bedroom count make it highly attractive to families seeking rentals in the Crete area.

Investment Highlights

• Four-bedroom rental demand in Crete is strong, with monthly rents consistently between $2,350 and $2,500.
• Relatively low annual taxes help preserve long-term cash flow.
• Vacant and easy to access, providing investors with a straightforward path to renovation and lease-up.
• Solid rental upside positions the property as a stable buy-and-hold investment with strong returns.

Market Context

Crete, Illinois offers small-town charm with easy access to Chicago, strong schools, and nearby nature preserves. The area continues to attract families seeking affordability and a suburban lifestyle. Local rental demand remains steady, with four-bedroom homes in particular commanding premium rates. Long-term growth is supported by Crete’s community-oriented environment, proximity to major highways, and appeal to working families.

Terms

Cash or hard-money buyers only. Seller financing is not available.

Contact

For all inquiries, showing requests, or additional information, please call 1-888-775-4570 or email sales@sharpedgeproperty.com.