We are back in the windy city, Chicago! And 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 $615 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.
Location: Chicago, IL.
Built In: 1959 (fully renovated)
Purchase price: $110,000 (not a foreclosure, normal sale)
Property info: 4 bedrooms, 1.5 bathrooms, 1184 square feet, 1 story, 2 car parking
Monthly rent collected: $1,280
Property taxes: $336
Property management fees: $125
Monthly expenses (conservatively estimated)
Vacancy (7%): $90
Repairs (5%): $64
Total Monthly Expenses- $665
Net Income = Income – Expenses = $615
Cap Rate = 6.71%
annual net income (non-inclusive of mortgage payment) / purchase price
Cash-on-cash return =
Depends on your leveraging.
If you are interested in this property or seeing others like it, contact Melissa at email@example.com. Take the plunge: you won’t regret it!