This 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
Monthly rent collected: $1,450
Property taxes: $143
Property management fees: $110
Monthly expenses (conservatively estimated)
Vacancy (7%): $102
Repairs (5%): $73
Total Monthly Expenses- $494
Net Income = Income – Expenses = $956
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 firstname.lastname@example.org