kingThis beautiful single family home in Chicago is fully renovated and is ready to be rented! With over 55% of the city renting, Chicago is a great market and this home’s financials have some serious curb appeal for investors. A great find in this investor-friendly city, this turnkey house comes with the amenities your tenants want; 5 bedrooms and a 2 car garage. An added bonus is the 1 year scope of work warranty that’s included in the purchase price. Check it out!

Location: Chicago, IL. Single Family Home.

Built In: 1915 (but fully redeveloped!)

Purchase price: $140,000 (not a foreclosure, normal sale)

Property info: 5 bedrooms, 1 bathrooms, 1,171 square feet

Income

Monthly rent collected: $1,450

Expenses

Monthly expenses

Property taxes: $143

Insurance: $67

Property management fees: $110

Monthly expenses (conservatively estimated)

Vacancy (7%): $102

Repairs (5%): $73

Total Monthly Expenses- $494

Net Income = Income – Expenses = $956

 

Advanced Numbers

Cap Rate =

annual net income (non-inclusive of mortgage payment) / purchase price = 8.19%

Cash-on-cash return =

Depends on your leveraging.

For turnkey properties that bring you a great return on your investment, Chicago rocks! For more information on this seller and this opportunity, check out this webinar that came out a couple months ago. Very informative. Click HERE. These properties are insane. Fully redeveloped, yes they are on the south side of Chicago but they are not in the war zones, and people have been buying these things left and right. By far the most popular turnkey I’ve seen getting sold lately.

If you are interested in this property or seeing others like it, contact Melissa at melissa@hipsterinvestments.com.

 

Comments
  • Jason
    Reply

    Hi Ali

    In these types of posts, it would be helpful to include some common leverage scenarios rather than just say “Cash-on-cash: Depends on your leverage”.

    Maybe a table with 20%, 25%, 50% for a few different interest rates?

    Just a suggestion – thanks!

    • Ali
      Reply

      Great idea Jason! I’ll work on those for future posts. At least I’ll include instructions on how to easily calculate those numbers.

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