Love deep dish? Love the Bears? Love comedy? Love real estate investing? Chicago is a wonderful city for investors right now. If you want a multi-family property, and the cash-flow that goes along with it, look at Chicago. You can buy low and generate some mean cash-flow to get your investing engines revving. This amazing city has jobs, universities, art, tourism and real growth.
You can purchase a fully redeveloped, historical property for a fraction of what you would pay in many other major cities. Simply put – it’s a great way to buy and hold for long-term wealth. Today’s property is a duplex – and it comes with all the bells and whistles we expect from this seller.
Location: Chicago, IL.
Built In: 1920(but fully redeveloped, including plumbing, electrical, you name it)
Purchase price: $170,000 (not a foreclosure, normal sale)
Property info: 6 bedrooms, 2 bathrooms, 2,306 square feet, 2+ stories, 2 Car Garage
Monthly rent collected: $2,200
Monthly expenses (conservatively estimated)
Property taxes: $272
Property management fees: $176
Owner-paid Utilities: $100
Vacancy (7%): $154
Repairs (5%): $110
Total Monthly Expenses- $1,000
Net Income = Income – Expenses = $1,200
Cap Rate = 8.47 %
annual net income (non-inclusive of mortgage payment) / purchase price
Cash-on-cash return =
Depends on your leveraging.
- 1 Year Scope of Work Warranty
If you are interested in this property or seeing others like it, contact Melissa at firstname.lastname@example.org. Take the plunge: you won’t regret it!