This one is truly a great deal – and puts a whopping $1,901 in cash flow in your bank account each month (and that’s conservatively estimated!)…..
Chicago is a city that is on the rise: it’s the #1 most diversified economy in the US, chock full of colleges, hospitals, Fortune 5oo employers… And most importantly, there are tenants and lots of them. Let’s take a look at today’s hot find!
Location: Chicago, IL.
Built In: 1922 (fully renovated)
Purchase price: $250,000 (not a foreclosure, normal sale)
Property info: 6 bedrooms, 3 bathrooms, 3,444 square feet, 2+ stories
Monthly rent collected: $2,827
Property taxes: $3250
Property management fees: $226
Monthly expenses (conservatively estimated)
Vacancy (7%): $198
Repairs (5%): $141
Owner-paid Utilities: $125
Total Monthly Expenses- $1,128
Net Income = Income – Expenses = $1,699
Cap Rate = 8.15%
annual net income (non-inclusive of mortgage payment) / purchase price
Cash-on-cash return =
Depends on your leveraging.
- 1 Year Scope of Work Warranty
If you are interested in this property or seeing others like it, contact Melissa at firstname.lastname@example.org. Take the plunge: you won’t regret it!