chicago-duplex-investment-propertyLove 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.

Single-Family Home

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

Income

Monthly rent collected: $2,200

Expenses

Monthly expenses (conservatively estimated)

Property taxes: $272

Insurance: $108

Property management fees: $176

Landscaping: $80

Owner-paid Utilities: $100

Vacancy (7%): $154

Repairs (5%): $110

Total Monthly Expenses- $1,000

Net Income = Income – Expenses = $1,200

Advanced Numbers

Cap Rate = 8.47 %

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!

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