Active

404-406 E Prospect Terrace

FREEPORT, IL 61032

$200,000 $843/Mo

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Overview

Bed

Bath

Description

Stop Renting. Start Owning! Unique homeownership opportunity designed for renters ready to make the move to owning. Two-story duplex featuring 2 bedrooms and 1 bathroom in each unit. The main floor unit offers a spacious living room and separate dining room with hardwood flooring, plus a kitchen with new vinyl plank flooring and main floor laundry hookups. The upper unit features a light-filled living room, separate dining room, and kitchen with new vinyl plank flooring. Property also includes separate basement access, separate utilities, and updated 100-amp service. Great opportunity for an owner-occupant or investor. This property qualifies for a unique homeownership program designed to help renters transition to ownership with minimal upfront cash and a simplified approval process. Exam ple terms: $200,000 purchase price with payments as low as $1,395/month. Security deposit may be applied toward the down payment, and the first month’s rent becomes the first mortgage payment. Program designed for hardworking buyers, including self-employed, 1099 earners, small business owners, ITIN holders, and credit-rebuilding applicants. If you qualify to rent, you may qualify to own. Program availability and terms vary. All approvals subject to income verification and underwriting guidelines. Equal Housing Opportunity.

Property Details

Property Type : Residential Income

Price : $200,000

AD Id : 76080261

MLS Id : 202601322

Beds : 4

Year Built : 1897

County : Stephenson

Map

What's Nearby

Nearby Areas

Features

Bedroom Information

Total beds: 4

Room Information

Has Basement: Yes Basement: Full
Roofing Information

Shingle
Interior Features

Roof: Shingle Appliances: Refrigerator, Gas Water Heater

Building Information

Year Built: 1897 Private Pool: No

Listing Price Information

Listing Price: $200000

Tax Information

Parcel Number: 181431478033 Tax Year: 2024 Annual Tax: $1501 Tax Legal Desc: PT LOT 4 BLK 1 GUITEAU'S ADD

Parking Information

Parking Total: 2

School Information

Elementary School: Freeport 145

Junior High School: Freeport 145

Senior High School: Freeport 145

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Nearby Home Value

Address	Estimate	Bed	Bath	Sq. Ft	Lot Size
302 E Prospect Terrace, Freeport, IL, 61032	$109,900	3	--	937	937 SqFt
251 W Homer Street, Freeport, IL, 61032	$45,000	3	--	--
717 W Pleasant Street, Freeport, IL, 61032	$85,000	3	--	1,032	1,032 SqFt

Similar Multifamily To 404-406 E Prospect Terrace

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$85,000

Multifamily For Sale

717 W Pleasant Street,
Freeport, IL, 61032

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302 E Prospect Terrace,
Freeport, IL, 61032

Bed

Sqft

404-406 E Prospect Terrace,
Freeport, IL, 61032

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Active

$45,000

Multifamily For Sale

251 W Homer Street,
Freeport, IL, 61032

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The data relating to real estate for sale on this website comes in part from the Internet Data exchange (IDX) program of the NorthWest Illinois Alliance of REALTORS®. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Real estate listings held by brokerage firms other than ByOwner, are indicated by detailed information about them such as the name of the listing firms. Information deemed reliable but not guaranteed. Copyright © 2026 NorthWest Illinois Alliance of REALTORS®. All Rights Reserved.

ByOwner last updated this listing 06/07/2026 @ 02:34

MLS: 202601322 LISTED BY: Olga Kampmeier, Keller Williams Realty Signature 815-315-1111 SOURCE: NorthWest Illinois Alliance of REALTORS