503 W Grand Prairie St
Palestine, IL 62451
4
Bedrooms
1
Bathrooms
1,132
Sq Ft
—
Year Built
About This Property
Handyman / Investor Special: Huge sweat-equity opportunity sitting on a generous 0.35-acre lot! This 4-bedroom, 1-bathroom home features 1,132 sq. ft. of living space and needs a full cleanout and rehab, making it an ideal fix-and-flip or long-term rental project. Recent Comps (Supporting $90K $95K ARV) 310 E Harrison St, Palestine, IL: Sold for $93,000 (2 bed / 1 bath, 1,180 sq. ft.) Direct ARV benchmark. 308 S Pike St, Palestine, IL: Sold for $89,500 (4 bed / 2 bath, 1,308 sq. ft.) Similar 4-bedroom comp. 311 W Grand Prairie St, Palestine, IL: Sold for $78,000 Same-street comp proving strong neighborhood demand. 507 E Market St, Palestine, IL: Sold for $35,000 (3 bed / 2 bath, 1,124 sq. ft.) As-is fixer comp. Purchase Options Fast Cash Price: $22,000 Deeply discounted for a quick cash closing to give flippers maximum profit margin against the $90K ARV. Owner Financing / Installment Price: $38,000 Skip bank approvals and build equity with flexible seller financing. Down Payment: $4,000 Monthly Payment: $350 / month Term: 10 Years (120 months) Prorations: Buyer covers property taxes ( $963/year) and insurance. Drive by the property, inspect the lot, and contact us today to lock this deal in!
Property Details
Property Type
Single Family
HOA
None
Listed Price
$22,000
Owner Financing Terms
Why Owner Financing?
- ✓ No bank qualifying
- ✓ Bad credit OK
- ✓ Fast closing
- ✓ Flexible terms
Free account - No credit card required
Frequently Asked Questions About Owner Financing in Palestine
What is owner financing for 503 W Grand Prairie St?
Owner financing means the seller of 503 W Grand Prairie St acts as the lender. Instead of getting a mortgage from a bank, you make monthly payments directly to the property owner. This property in Palestine, IL is available with owner financing terms.
Do I need good credit for owner financing?
No! One of the biggest advantages of owner financing is that you typically don't need to qualify through a bank. This makes it possible to buy a home even with bad credit, no credit history, or self-employment income that's hard to document.
How much is the down payment for this Palestine home?
Down payment terms are negotiable. Sign up for free to get the specific financing details for this Palestine property.