Overview
This Single-Family Foreclosure is located at Melrose Ave, Centralia, IL 62801. This property is currently bank owned with an estimated market value of $45,854.
Save money on this property now.
This single-family property is available as a foreclosure at Melrose Ave. Our team of real estate experts has conducted a thorough analysis of the current market conditions in Centralia, specifically for Melrose Ave and comparable listings. Based on this expert analysis, the estimated market value is $45,854. If purchased for rental purposes, the monthly rental rate could range between $670 and $810, providing a solid return on investment. Factors considered in this calculation include the property location, condition, status, and convenience, all assessed by our experienced professionals. Properties like this one on Melrose Ave are updated daily along with others in Centralia, Illinois, ensuring you have the most current and accurate information. Since this property is a foreclosure, be sure to check out our Foreclosure Timeline for Melrose Ave below to see detailed and helpful information about what stage of the foreclosure process this listing is in.
Plus with taxes and insurance
Based on 20% down, 30 year mortgage, with 6% APR
All calculations are estimates provided for informational purposes. Actual amounts may vary by location. It is important to know that mortgage rates are dependent on credit scores, loan timeline, and a down payment amount.
Not in Foreclosure
Pre-Foreclosure
Auction
Bank Owned
There are 4 schools in the area. Nearby schools include Centralia High School and Centralia Junior High School.
There are plenty of activities near this property like Centralia Public Library, Centralia Area Hospital, and more.
Public transportation options include: Limited public transportation options are available, primarily consisting of local shuttles and taxi services for residents., Amtrak provides rail services with nearby stations for regional connectivity.. Other services include ride-sharing services like Uber and Lyft.
Parks nearby include Pine Lake Park, Centralia Recreation Park and more.
Services available in the area include cellular and internet options.
This property in Centralia, IL is located in the Second Melrose Place Subdivision.
The property located at Melrose Ave in Centralia, IL is listed as a Foreclosure
Properties like Melrose Ave in Centralia, Illinois listed as foreclosures have passed the point of auction or public sale. Because the properties were not sold at auction, the lender is now the owner and is engaged in the process of marketing and selling them to potential buyers through a local real estate agent or auction house in Centralia, IL. The longer lenders own properties like this on Melrose Ave, the more eager they become to sell, often at reduced prices.Foreclosures often mean the original homeowner had some sort of setback that caused him to allow his lender to take the property. Rarely does a lender want to retain possession of real estate, so it will be motivated to move it off the books as quickly as possible. A fast turnover is what the lender is looking for, so a big part of the marketing plan might include pricing for a quick sale. In order to take advantage of foreclosed properties there are some basic steps to be followed:
Steps as you search for your foreclosure property:
Foreclosed properties can represent excellent opportunities to acquire real estate at bargain prices. But in order to take full advantage of these opportunities you must have all your information and take an organized approach to finding and acquiring foreclosed properties. Find the location and property that interests you, work with the Realtor and closing agent to learn all you can about the property, and make your offer based upon good information and research.
The estimated rental value for Melrose Ave located in Centralia, IL is $740/month. Comparable homes around Melrose Ave that are rentals have monthly ranges starting as low as $670 per month and as high as $810 per month. An owner looking to use this property as an investment could bring a return in the area of $670 - $810 a month based on the many factors which include the properties condition, type, amenities, etc. Sign in to view a full two years of rental information as well as the Average Market Value (AVM) of this property.
Status: Active
The property has moved into foreclosure proceedings. The lender is likely preparing the home for auction or repossession.
Status: Active
CITY OF CENTRALIA
10/15/24 - 08/11/25Status: Inactive
The owner is behind on payments and has entered preforeclosure. It may still be possible to avoid foreclosure or sell early.
Status: Inactive
The information provided on the Website, which encompasses details such as property dimensions, floor area, valuation, geographic location, and general property description, is furnished for your convenience and originates from third-party sources. This data should not be interpreted as constituting a contractual offer for the procurement, leasing, or advertising of real estate. No express or implied warranties or assurances are extended concerning these properties, including their availability. While the data presented on this Website is considered reliable, it acknowledges a degree of uncertainty, thus necessitating independent verification.
The administrators of this platform, as well as their respective directors, associates, and personnel, have not undertaken a process of due diligence to verify the accuracy of the information. Their role is limited to disseminating the information, and they do not accept liability, whether direct or indirect, for any injuries, losses, claims, damages, or associated indirect or consequential harms, including but not limited to lost profits or savings, arising from the use of any information or any deficiencies, inaccuracies, or defects in the disseminated information within the bounds of the Website.
Foreclosure.com, in conjunction with its Affiliates, disclaims any responsibility arising from your acquisition of third-party goods, services, or tangible properties based on the informational context of the Site. Foreclosure.com reserves the right, at its sole discretion and without prior notice, to rectify errors or omissions within any section of the Site or to restrict access to the Site.
Relying solely on the informational content featured on the Website is not advisable. Conduct your own personal inquiries and seek legal counsel regarding any property under consideration within the scope of the Website or the associated data.
Calculate monthly mortgage payments with our easy mortgage loan calculator.
Copy the link below:
Millions of people receive foreclosure alerts daily, don't miss out.
Alert me about homes in that match this search.
By signing up for property alerts, I have read the Terms and Conditions of Service and agree to receive emails from Foreclosure.com.
Foreclosure.com Advantage:
At Foreclosure.com, we are driven by a mission — to streamline the journey of finding and purchasing distressed properties for our users across the nation. We understand both the challenges and opportunities presented by the real estate market. So learning is an essential part of investing and we equip you with tools and knowledge through how-to videos, insights from local area experts, and state-specific legal information. These resources are designed to empower you with the knowledge to make informed decisions, whether you're a first-time buyer or seasoned investor.
