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
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$ 474,900
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Martin's Add
Waterloo
Waterloo DIST 5
Monroe-IL
Residential Income
Other
Residential Income
$8,343
Last 6 closed homes in this zip.
| Address | Bd/Ba | SqFt | List | Sold | Closed |
|---|---|---|---|---|---|
| 1219 Castle Green Drive, Waterloo, IL 62298 | 3/4 | 2,697 | $525,000 | $535,000 101.9% of ask |
Sep 8, 2026 |
| 217 Magnolia Avenue, Waterloo, IL 62298 | 4/2 | 2,900 | $275,000 | $240,000 87.3% of ask |
Sep 4, 2026 |
| 0 Benjamin Lane, Waterloo, IL 62298 | 0/0 | -- | $82,000 | $75,000 91.5% of ask |
Sep 4, 2026 |
| 6269 Maeystown Road, Waterloo, IL 62298 | 3/1 | 840 | $199,999 | $350,000 175% of ask |
Sep 2, 2026 |
| 612 Legacy Drive, Waterloo, IL 62298 | 0/0 | -- | $85,500 | $85,500 100% of ask |
Sep 2, 2026 |
| 306 S Market Street, Waterloo, IL 62298 | 3/2 | 896 | $225,000 | $220,000 97.8% of ask |
Sep 1, 2026 |
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A little character, a great location, and plenty of potential! Located just minutes from downtown Waterloo, this home is ready for its next owner to make it their own. The main level features beautiful hardwood floors, two bedrooms, one full bathroom, a living room, and a kitchen. Head upstairs and you’ll find a third bedroom PLUS a separate loft/bonus area, giving you a little extra space for an office, hobby room, playroom, or whatever you need. The full unfinished basement offers plenty of storage and houses the laundry. Outside, you’ll find a fenced backyard with a patio, perfect for enjoying your morning coffee or letting the dogs run around. There’s also an attached one-car garage, because nobody likes scraping ice off their windshield. Whether you’re buying your first home, downsizing, or looking for a home with room to add your own touches, this one is worth a look. And did we mention the hardwood floors? Because they’re pretty great.
Visit the Display Home Open House at 1013 Waymaker Ln, Waterloo, IL. New Construction: Customizable "The Heritage" Plan at Silver Creek Crossing by Quantum Homes, Inc. This is a To Be Built listing, offering you the exciting opportunity to fully customize your new home! With an estimated build time of just 5-6 months, your dream home is within reach. The "Heritage" is a spacious and thoughtfully designed floor plan, The price listed reflects the standard finishes built on Lot 106. Exceptional Standard Features The base price includes a host of high-quality standard features: Welcoming Entrance: A generous-sized covered front porch and an elegant hard surface foyer. Gourmet Kitchen: Features a large island perfect for gathering, granite countertops, and a convenient walk-in pantry. Comfort & Style: A cozy gas fireplace with a marble surround and wood mantle. Everyday Convenience: A practical mud room located off the garage, complete with a nearby laundry room. Luxurious Primary Suite: Includes a large walk-in closet and an ensuite bath with a double-bowl vanity. Finished Baths: All bathrooms feature quality cultured marble vanity tops and comfortable adult-height vanities. Future Potential: An unfinished basement with a rough-in for a future bathroom and an egress window for safety and light. Outdoor Living: A three-car attached garage with auto door openers and a 12'x12' patio. Please Note: The photos and virtual tours provided are sample images only and may feature optional upgrades not included in the base price. (Agent related to seller.) Ready to design and build your new home? Call today to choose the perfect lot and schedule your comprehensive home building consultation!
A truly unique opportunity offering the perfect combination of beautifully renovated living space and incredible multi-use potential! This completely renovated farmhouse has been thoughtfully updated from top to bottom, including new electrical and plumbing, windows, doors, flooring, lighting and stylish farmhouse-chic finishes throughout. The main level welcomes you with a vaulted foyer and an impressive floor-to-ceiling stone gas fireplace. The beautifully updated kitchen features granite countertops, a distressed wood-style island, ceramic tile backsplash, walk-in pantry and stainless steel KitchenAid appliances. The main-floor primary suite offers a bay window, private bath with walk-in ceramic tile shower and rainfall showerhead, plus a walk-in closet conveniently connected to the utility room. Additional living space includes a finished lower level with a full bath and abundant storage, while the upper level provides additional sleeping space, a bath and play/recreation area. Outside is where this property truly sets itself apart. Enjoy the covered patio overlooking the pond and partially fenced grounds, plus an enormous outbuilding offering exceptional flexibility for a workshop, office, equipment or vehicle storage, business operations and more. The building features multiple overhead doors, an RV-height bay, bathroom, large lean-to, rear patio doors and separate electrical service. With commercial/light industrial use potential, this one-of-a-kind property offers an uncommon opportunity to combine home, business, recreation and storage all in one location. Whether you're looking for room to operate a business, house equipment, pursue a hobby or simply spread out, this property delivers possibilities that are incredibly hard to find!
