208 N Library St, Waterloo, IL 62298

Description

Unique properties like this rarely come available in Waterloo! This incredible opportunity offers flexibility for an owner-occupant, multi-generational setup, or investor seeking strong income potential. The property features four total living spaces consisting of an impeccably maintained main residence, an attached lower-level in-law/basement apartment , and a beautifully updated duplex fronting Magnolia Street.

The main home has been exceptionally cared for with numerous updates including freshly painted rooms, newer roof, beautiful finishes, and excellent curb appeal. The main level is an open floor plan concept along with 2 bedrooms (including the primary suite w/ private bathroom & walk-in closet) and a huge screened-in porch overlooking the spacious side yard. The walkout lower level offers two additional bedrooms, full bath, office/laundry area, & ample storage. Currently configured as a 4 bedroom, 3 bath residence, the main home also includes an attached 1-car garage plus a detached 1-car garage. The attached garage area is already plumbed for a kitchen setup and, subject to buyer verification, may provide future flexibility for additional living configuration options (dividing the main home into an upper & lower level unit with conversion of the attached garage). The main home has always been owner-occupied so no rental history is available.

Connecting the main home and Magnolia duplex is a lower-level in-law/basement studio suite offering additional flexibility for extended family, guest use, or potential income opportunities. This unit features 1 bathroom, kitchen/living space, & sleeping area/bonus room. Please verify with your Buyer's Agent details regarding this unit.

The Magnolia duplex is an older building connected to the main home through studio suite and has been extensively remodeled over the years while maintaining its original exterior character. Each unit offers a main-level bedroom, full bath, kitchen, living room, main-floor laundry, plus a loft area with an additional bedroom — creating 2 bedroom, 1 bath layouts on each side. When you walk in the front doors, you will be wowed by the soaring ceilings as you look up to the loft! Tenants love the covered front porches & fenced, private rear courtyards for ultimate outdoor privacy, entertainment, & relaxation.

Current rent amounts are believed to be well below prevailing market rates for Waterloo, creating additional upside potential.
Whether you are looking to live in the primary home while collecting rental income, create a multi-generational property, or maximize future investment potential, this property offers possibilities rarely found in today’s market. Modern updates, income potential, flexibility, and truly one of a kind — this is a property you MUST need to see in person to fully appreciate. Agent Related