We are back with another single family turnkey property from Chicago! These properties are fully renovated with tenants in place as condition of closing. Ready to find out more?
This one is an amazing deal – and puts a whopping $1067 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: 1938 (fully renovated)
Purchase price: $157,000 (not a foreclosure, normal sale)
Property info: 4 bedrooms, 3 bathrooms, 1591 square feet, 2 story, off-street parking
Monthly rent collected: $1,605
Property taxes: $159
Property management fees: $128
Monthly expenses (conservatively estimated)
Vacancy (7%): $112
Repairs (5%): $80
Total Monthly Expenses- $538
Net Income = Income – Expenses = $1067
Cap Rate = 8.15%
annual net income (non-inclusive of mortgage payment) / purchase price
Cash-on-cash return =
Depends on your leveraging.
- 1-Year Home Warranty (issued by a 3rd party)
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!