What's Available Wednesday? Chicago!We are back again in Chicago, with another 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 a whopping $1,556 (!!) 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: Glenview, Illinois. Built In: 1957 (fully renovated)

Purchase price: $330,000 (not a foreclosure, normal sale)

Property info: 4 bedrooms, 2 bathrooms, 1,600 square feet, 1.5 stories (split level), 1 car garage

Income

Monthly rent collected: $2,750

Expenses

Monthly expenses

Property taxes: $511

Insurance: $133

Property management fees: $220

Monthly expenses (conservatively estimated)

Vacancy (7%): $193

Repairs (5%): $138

Total Monthly Expenses- $1,194

Net Income = Income – Expenses = $1,556

Advanced Numbers

Cap Rate =

annual net income (non-inclusive of mortgage payment) / purchase price =5.66%

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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