Eastern Illinois Properties offers some of our properties for sale from time to time. Generally, we price properties for sale based on condition, proximity to campus, age of the property, and of course income from the property. The income component is based on a multiple of gross monthly rent minus monthly costs such as utilities or trash, if any which are paid by the landlord. (Net monthly rent). Monthly costs for this purpose do not include mortgage, taxes, or insurance. 

Prices for our properties range from 80-150 times net monthly rent with most falling in the 80-90 range. For example, if a property has a gross monthly rent of $1,200 and the landlord pays trash service of $25.00 per month, the net monthly rent is $1,175 per month. Based on the condition, proximity to campus, and age of this particular property, Eastern Illinois Properties has assigned a multiple of 80.The price of this property would be calculated as follows:
$1,200-$25 = $1,175 X 80 (Rent Multiplier) =$94,000(sale price).

If you are interested in purchasing one of our properties you are welcome to contact us at 217-254- 8228 to see if it's available and for pricing information. Our prices are generally no haggle prices. This means that we will typically not negotiate our sale prices.

The primary advantages of student rental property ownership are price appreciation, cash flow, principal reduction, tax advantage, and an inflation hedge. In addition, if you have or will have one or more students attending Eastern Illinois University, you may be able to transform an expense into an investment opportunity. Professional management is available through Eastern Illinois Properties or other management companies for 8-10% of gross rent. Our properties are clearly some of the best maintained and best positioned student rentals in the market. This investment is not for everybody but if you are interested please call 217-254-8228 or email  eiu_properties@yahoo.com