This 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)
Monthly rent collected: $1,735
Property taxes: $251
Property management fees: $139
Owner Paid Utilities: $100
Monthly expenses (conservatively estimated)
Vacancy (7%): $121
Repairs (5%): $87
Total Monthly Expenses- $875
Net Income = Income – Expenses = $860
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 firstname.lastname@example.org.