chicago-real-estate-investingThis Duplex in Chi-town comes with ALL the bells and whistles. Fully redeveloped, freshly painted, fully applianced – and with tenants already in place! Does it get any better? Maybe. This duplex also has a one year scope of work warranty. As a city, Chicago boasts an absolutely fabulous rental market that offers investors stability, a big sea of tenants and great buy-in prices. This Chicago Duplex is such a good deal that we’re almost forced to say, “Go Bears!”

Location: Chicago, IL. Duplex.

Built In: 1923(but fully redeveloped)

Purchase price: $140,000 (not a foreclosure, normal sale)

Property info: 4 bedrooms, 2 bathrooms, 2,00 square feet (total for all units)

Income

Monthly rent collected: $1,735

Expenses

Monthly expenses

Property taxes: $251

Insurance: $97

Property management fees: $139

HOA: $0

Owner Paid Utilities: $100

Landscaping: $80

Monthly expenses (conservatively estimated)

Vacancy (7%): $121

Repairs (5%): $87

Total Monthly Expenses- $875

Net Income = Income – Expenses = $860

 

Advanced Numbers

Cap Rate =

annual net income (non-inclusive of mortgage payment) / purchase price = 7.37%

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.

 

 

 

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