What's Available Wednesday? Chicago!We are back in the windy city… Chicago! Chicago is one of the most economically powerful cities in the world, with the #1 diversified economy in the US. It is chock full of colleges, hospitals, Fortune 5oo employers… And most importantly, there are tenants and lots of them.

If you love the new single family home trend we’ve been seeing… this one is for you! They’ve all been fully renovated and have a tenant in place as condition of closing. Let’s take a look at today’s hot find!

Location: Chicago, Illinois.

Built In: 1955 (fully renovated)

Purchase price: $150,000 (not a foreclosure, normal sale)

Property info: 4 bedrooms, 2 bathrooms, 1,600 square feet, 1 story, basement, 1 car parking

Income

Monthly rent collected: $2,100

Expenses

Monthly expenses

Property taxes: $304

Insurance: $92

Property management fees: $168

Monthly expenses (conservatively estimated)

Vacancy (7%): $147

Repairs (5%): $105

Total Monthly Expenses- $816

Net Income = Income – Expenses = $1,284

Advanced Numbers

Cap Rate =

annual net income (non-inclusive of mortgage payment) / purchase price =10.27%

Cash-on-cash return =

Depends on your leveraging.

If you are interested in this property or seeing others like it, contact Melissa at melissa@hipsterinvestments.com.

Want to see more deals like this?
We’ll send them to you!

Want to see more deals like this? We'll send them to you!

Comments
  • Gabe Sanders
    Reply

    If I lived closer and were a little younger I would be all over this property.

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