What's Available Wednesday? Chicago!We are back again in Chicago, with a single family home that’s been fully renovated and has a tenant in place as condition of closing.

This one is truly a great deal – and puts $798 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!

Single Family Home

Location: Chicago, IL.

Built In: 1948 (fully renovated)

Purchase price: $90,000 (not a foreclosure, normal sale)

Property info: 3 bedrooms, 1 bathroom, 853 square feet, 2 stories

Income

Monthly rent collected: $1,350

Expenses

Monthly expenses

Property taxes: $202

Insurance: $83

Property management fees: $104

Monthly expenses (conservatively estimated)

Vacancy (7%): $95

Repairs (5%): $68

Total Monthly Expenses- $552

Net Income = Income – Expenses = $798

Advanced Numbers

Cap Rate = 10.65%

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

Cash-on-cash return =

Depends on your leveraging.

Special Terms

  • 1 Year Scope of Work 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!

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
  • Ericka
    Reply

    Great blog. I have been mentioning it to others. in Austin Texas at the moment but from North Carolina so will be looking on the east coast. cheaper and easier.

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