331 Pine St 331 Pine Street presents an attractive opportunity to acquire a well-maintained, fully occupied two-unit residential investment property in Joliet, Illinois. Offered at $359, 000, the property generates $35, 400 in annual scheduled rent from two executed leases and offers the benefit of a newer 2024 roof, a 2025 water heater replacement, separately metered tenant-paid gas and electricity, and available first-come parking. Its established tenancy, straightforward operating profile, and recent capital improvements make it a compelling addition to a local investor's portfolio. Investment Highlights Offering Price: $359, 000 | $179, 500 per unit In-Place Income: $2, 950/month | $35, 400/year Normalized NOI / Cap: $21, 788 | 6.07% Recent Improvements: 2024 roof; 2025 water heater Utilities: Separate tenant-paid gas and electricity Occupancy: 100% leased | two residential apartments Parking & Grounds: First-come parking; tenant lawn and snow care Property Overview & Improvements Located on Pine Street in an established Joliet residential neighborhood, this two-flat features two leased apartments with a working configuration of two bedrooms and one bathroom per unit. Recent photographs showcase well-presented living areas, kitchens, and bathrooms. Ownership reports both units to be in very good condition. Significant recent improvements include a 2024 roof replacement and replacement of one water heater in 2025. Basement utility space accommodates two visible hot-water tanks. Each apartment has its own gas and electric metering, helping limit owner-paid utility exposure. Existing tenant arrangements also provide for water expense sharing. First-come parking and tenant-performed lawn care and snow removal contribute to a practical, straightforward operating profile. Some listing photos have been virtually staged or manipulated by AI.