23 W Laurel Street, Millstadt, IL 62260
Local realty services provided by:CENTURY 21 CopperKey Realty
Listed by: doug payne
Office: southern illinois realty, llc.
MLS#:26011659
Source:MO_MARIS
Price summary
- Price:$385,000
- Price per sq. ft.:$203.06
About this home
Beautiful Victorian-style home thoughtfully converted into four separate apartments, blending timeless old-world charm with modern updates. Located in the heart of Millstadt and within walking distance to local restaurants and shops, this property offers both strong cash flow and long-term appreciation potential.
Income-Producing Details:
• Gross Monthly Income: $3,625
• Monthly Expenses: $1,212
• Net Monthly Income: $2,413
• Additional Income Potential: 2-car garage rentable for approx. $100–$150/month
• Nearly a 8.0% cap rate exceeding the typical cap rate of 6-7.25% in our area
Unit Breakdown:
• Three (3) units: 1 bedroom, 1 bath
• One (1) unit: 2 bedrooms, 1 bath
Property Highlights:
• Hardwood or luxury vinyl plank flooring throughout
• Updated kitchens with new cabinetry
• Updated bathrooms
• Separate electric meters for each unit
• Refrigerators and electric range/oven included in all apartments
• Roof on main house less than 10 years old
• New siding (2016)
• New roof on garage (2026)
This well-maintained property offers immediate income with upside potential through garage rental and future rent adjustments. Strong curb appeal, historic character, and a prime in-town location make this a standout addition to any investment portfolio.
A minimum of 24 hour notice required. Preappproval or proof of funds must be provided to listing agent before viewing....
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Home facts
- Year built:1902
- Listing ID #:26011659
- Added:56 day(s) ago
- Updated:April 28, 2026 at 03:04 PM
Rooms and interior
- Kitchen Description:Refrigerator
- Living area:1,896 sq. ft.
Heating and cooling
- Cooling:Wall/Window Unit(s)
Structure and exterior
- Year built:1902
- Building area:1,896 sq. ft.
- Lot area:0.26 Acres
- Architectural Style:Victorian
- Construction Materials:Vinyl Siding
- Levels:2 Story
Schools
- High school:Belleville High School-West
- Middle school:MILLSTADT DIST 160
- Elementary school:MILLSTADT DIST 160
Utilities
- Water:Public
Finances and disclosures
- Price:$385,000
- Price per sq. ft.:$203.06
- Tax amount:$5,434 (2024)
Features and amenities
- Amenities:High Ceilings
Parking
- Parking description:Off Street
- Garage:Yes
- Garage spaces:2
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