This one is truly an amazing deal – and puts $1,393 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: double your income streams on one property – easy and hassle-free.
Location: Chicago, IL.
Built In: 1921 (fully renovated)
Purchase price: $175,000 (not a foreclosure, normal sale)
Property info: 7 bedrooms, 2 bathrooms, 2,500 square feet, 2 stories
Monthly rent collected: $2,350
Property taxes: $218
Property management fees: $188
Owner-Paid Utilities: $75
Monthly expenses (conservatively estimated)
Vacancy (7%): $165
Repairs (5%): $118
Total Monthly Expenses- $957
Net Income = Income – Expenses = $1,393
Cap Rate = 9.56%
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!