Wow are we loving the Chicago properties this year! Yet again, we’ve found a single family that’s been fully renovated and has a tenant in place as condition of closing.
This one is an amazing deal – and puts $803 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: double your income streams on one property – easy and hassle-free.
Single Family
Location: Chicago, IL.
Built In: 1956 (fully renovated)
Purchase price: $125,000 (not a foreclosure, normal sale)
Property info: 3 bedrooms, 2 bathrooms, 1665 square feet, 1.5 stories, 1 car parking, basement
Income
Monthly rent collected: $1,450
Expenses
Monthly expenses
Property taxes: $298
Insurance: $51
Property management fees: $125
Monthly expenses (conservatively estimated)
Vacancy (7%): $102
Repairs (5%): $73
Total Monthly Expenses- $647
Net Income = Income – Expenses = $803
Advanced Numbers
Cap Rate = 7.71%
annual net income (non-inclusive of mortgage payment) / purchase price
Cash-on-cash return =
Depends on your leveraging.
Special Terms
- 90-Day Scope of Work Warranty
- 6-Month HVAC Warranty
If you are interested in this property or seeing others like it, contact Melissa at melissa@hipsterinvestments.com. Take the plunge: you won’t regret it!
