2waw-chicgo-duplex-7-15We are back again in Chi-town, as the locals call it, with a beautiful duplex that’s been fully renovated and has a tenant in place as condition of closing.

This one is truly an amazing deal – and puts $1,437 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.

Duplex

Location: Chicago, IL.

Built In: 1900 (fully renovated)

Purchase price: $155,000 (not a foreclosure, normal sale)

Property info: 7 bedrooms, 2 bathrooms, 2,436 square feet, 2 stories

Income

Monthly rent collected: $2,300

Expenses

Monthly expenses

Property taxes: $140

Insurance: $108

Property management fees: $184

Landscaping: $80

Owner-Paid Utilities: $75

Monthly expenses (conservatively estimated)

Vacancy (7%): $161

Repairs (5%): $115

Total Monthly Expenses- $863

Net Income = Income – Expenses = $1,437

Advanced Numbers

Cap Rate = 11.56%

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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