Yes: we are back to Chicago again. We just can’t get enough of these delicious deep-dish pies and, of course, these incredible deals.
For the real estate investor who is all about turnkeys that really deliver true value, Chicago – and especially today’s TRIPLEX, are just that.
First things first, why invest in the beautiful city of Chicago? Let us count the ways (or, anyway, at least a few of them)….
Chicago, as you know, is a major metropolis: it’s Illinois’s largest city by far. It’s centrally located – and if you ever wanted to check on your property, it’s easy to fly in and out of O’Hare airport. The city is flooded with culture, art and beautiful architecture – along with a steady stream of new transplants and students (aka renters).
Bottom line? Investing in Chicago is super hip and pitches you amazing ROI’s – which is why we love Chi-town.
PS: this triplex actually comes with a one year scope of work warranty (just another reason to fall in love, right?)
Location: Chicago, IL.
Built In: 1911 (fully redeveloped and waiting for your tenants to enjoy)
Purchase price: $265,000 (not a foreclosure, normal sale)
Property info: 10 bedrooms, 3 bathrooms, 2,838 square feet and a 2 car garage!
Monthly rent collected: $3,400
Property taxes: $204
Property management fees: $200
Owner-Paid Utilities: $100
Monthly expenses (conservatively estimated)
Vacancy (7%): $238
Repairs (5%): $170
Total Monthly Expenses- $1,154
Net Income = Income – Expenses = $2,246 !!!!
Cap Rate = 10.17
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 Ali at firstname.lastname@example.org. Take the plunge: you won’t regret it!