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: 1969 (fully renovated)

Purchase price: $157,000 (not a foreclosure, normal sale)

Property info: 4 bedrooms, 2 bathrooms, 1,141 square feet, 1.5 story, basement, 2 car parking

Income

Monthly rent collected: $2,200

Expenses

Monthly expenses

Property taxes: $438

Insurance: $100

Property management fees: $176

Monthly expenses (conservatively estimated)

Vacancy (7%): $154

Repairs (5%): $110

Total Monthly Expenses- $978

Net Income = Income – Expenses = $1,223

Advanced Numbers

Cap Rate =

annual net income (non-inclusive of mortgage payment) / purchase price =9.34%

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!

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